SAT SAT To Become an Auto Parts Manufacturing Leader in ASEAN with Excellent Quality lent Quality To Become an Auto Parts Manufacturing Leader in ASEAN with Excel 1Q2010 Consolidated Result 1Q2010 Consolidated Result (Opportunity Day on May 27, 2010) (Opportunity Day on May 27, 2010)
Agenda � I ndustry Overview � Group Business � Performance Review � Future Outlook � Appendices
Trend of Thailand Car Production & Sales 1,600,000 1,400,000 units (+ 40% ) 1,393,742 1,287,346 1,215,207 (+ 22% ) 1,188,044 1,200,000 1,125,316 999,378 Asia’s 928,081 Recovery E 770,000 775,652 800,000 750,512 682,161 690,100 Asia Financial 703,261 548,871 Crisis of 1997- 584,951 E 98 626,026 615,270 630,000 631,251 459,418 538,966 535,596 533,176 411,721 400,000 363,156 327,233 440,705 296,985 409,362 262,189 332,053 158,130 360,303 181,471 218,330 235,122 175,299 152,835 144,065 42,218 125,702 67,857 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010F Actual Production FTI (officially) Domestic Sales Export Sales FTI (likely) Source: FTI (The Federation of Thai Industries (1997-2008)) 3
Key Message – – Continuing to deliver strong growth Continuing to deliver strong growth Key Message � Thailand’s automotive industry to see growth accelerate as the globally economy rebounding I ndustry I ndustry � No obviously sign of production/sales plunged as eurozone crisis deepens (Thailand exported to EU and the PIIGS* 4.5% and 1.4% respectively) � The eco-car sector in Thailand promises growth opportunities for parts and component manufacturers � More foreign makers now appreciate Thailand as a prime location for R&D investment � Due to Curfew, Car makers to get recover of night shift cancellation (% Thailand GDP dropped by 0.65-1.65% ) Scenarios Case 1 Case 2 Case 3 Greece only Across euro area Extended to Thailand’s Factor trading partner countries � Pick up to greece ~ � Pick up and P-Car to euro � Pick up and P-Car to - Export Car area ~ 6 7,5 00 and 1,500 Sales 3,3200 units or 1.6 Australia ~ 56,000 bt.mn. in 2009 units ,respectively and 19,000 bt.mn., � Zero market � 50% of its market respectively value in 2010 value - Japan ~ 18,500 � Approx. 0.2% � Approx. 2% of SAT bt.mn. for both of SAT sales sales 4
Eurozone impact assessment � Sales backs on track since the beginning of the year is on an upswing � Revenue from Kubota, under diversification strategy, increasing Business Business gradually to 1,600 bt.mn by 2014 � % Sales growth for 2010-2012 are 26% , 10% and 14% , respectively (political uncertainty caused in range of 0.2-2.0% sales drop) � CAPEXs in 2010 approx. 1,040 bt.mn (auto : non-auto : R&D : PPE & Admin. = > 310 : 405 : 50 : 274) � Significantly earnings and value growth � Dividend payout at least 30% of consolidated profit Financial Financial 5
Domestic Car makers’ Update Rosy picture despite the ongoing political tension, the automotive and auto- parts industries are positive about manufacturing 1.4 million units, a number that has the potential of reaching 1.55 million units, because the export markets are showing a definite upturn � Toyota ; � Toyota Motor Thailand will shut production of its oldest plant, Thai Auto Works (TAW), and the production of the Hilux Vigo and Fortuner to be moved to the Ban Po plant in Chachoengsao at the end of May (to strengthen cost competitiveness as last year decision) � Honda ; � Honda's vehicle sales dropped unexpectedly in March, despite a surge in Thailand's automobile market � the decline was due to a cut in output, in anticipation of the market cooling in March after expansion over the first two months � Mazda � It sees new record because of the highly popularity of the new Mazda2 subcompact 6
M/M_2010 is in line with that of 2008 180000 Units 160000 140000 120000 100000 80000 60000 40000 20000 Jan08 Feb May Jun July Sep Nov Dec Jan09 Feb May Jun Jul Sep Nov Dec Jan10 Feb Mar Aug Oct Mar Aug Oct Mar Apr Apr Dom Sales Exp Sales Total Prod Total Sales Source: TAIA (The Thai Automotive Industry Association) 7
YTD_Car Production and Sales as of March10 Isuzu Nissan Nissan Honda Isuzu Honda AAT 9% 6% 8% 9% 14% 13% 8% Honda Isuzu AAT Nissan 10% 21% 5% 12% Other Other 11% MMth Other 7% AAT MMth 22% 2% 5% 15% MMth Toyota Toyota Toyota 5% 39% Units 40% 39% 500,000 400,000 113,504 300,000 (30% ) 41,233 200,000 269,440 (19% ) (70% ) 68,253 (41% ) 100,000 175,452 98,549 (81% ) (59% ) 0 Production Dom Sales Exp Sales Pickup & PPV Passenger Car Source: TAIA (The Thai Automotive Industry Association) 8
Production Trend by Type and Brand Pick Up & PPV Passenger unit unit 50,000 20,000 19,000 18,000 17,000 40,000 16,000 15,000 14,000 13,000 30,000 12,000 11,000 10,000 9,000 20,000 8,000 7,000 6,000 5,000 10,000 4,000 3,000 2,000 1,000 0 0 9 r y v 0 r b r e y g p c b 9 0 a a t a b r y e y g p v c b 0 p l e c o e 1 r t r e M n u u e M 0 a p a l c 1 a A M O N D e n u u e o e e n F J A S n F n M A O n M u F M u A S N D F a a a J a J J J J J J Isuzu (Isuzu&GM) Toyota Mitsubishi Toyota Mitsubishi Nissan Nissan AAT Other AAT Other Honda 9
Domestic Trend by Type and Brand Pick Up & PPV Passenger unit unit 20,000 13,000 12,000 18,000 11,000 16,000 10,000 14,000 9,000 8,000 12,000 7,000 10,000 6,000 8,000 5,000 4,000 6,000 3,000 4,000 2,000 2,000 1,000 0 0 9 r y v 0 r b r e y g p c b 9 0 a a t a b r y e y g p v c b 0 p l e c o e 1 r t r e M n u u e M 0 a p a l c 1 a A M O N D e n u u e o e e n F J A S n F n M A O n M u F M u A S N D F a a a J a J J J J J J Isuzu (Isuzu&GM) Toyota Mitsubishi Toyota Mitsubishi Nissan Nissan AAT Other AAT Other Honda 10
Export Trend by Type and Brand Pick Up & PPV Passenger unit unit 30,000 7,000 6,000 25,000 5,000 20,000 4,000 15,000 3,000 10,000 2,000 5,000 1,000 0 0 9 0 b r y e y g p v c b 9 e y g v c 0 r t r b r r y p t b r 0 a p a l c 1 a 0 a p l c 1 a e n u u e o e e e a n u e o e e n M A O n M n M u O n M F M u A S N D F F A M u A S N D F a J a J a a J J J J J J Isuzu (Isuzu&GM) Toyota Mitsubishi Toyota Mitsubishi Nissan Nissan AAT AAT Other Honda 11
Export Destinations 775,652 535,596 58,525 74,063 84,097 Units Units Units Units Units 100% 6% 7% 7% 7% 8% Africa 7% 7% 9% 9% Europe 13% 7% 6% Central & S.America 12% 13% 12% 75% 21% 27% Middle East 20% 21% 21% 50% 31% 27% 27% 25% Asia 24% 25% 28% 27% 26% 24% 24% Aus, NZ & Oceania 0% 2008 2009 Jan10 Feb10 Mar10 Source: TAIA (The Thai Automotive Industry Association) 12
Agenda � I ndustry Overview � Group Business � Performance Review � Future Outlook � Appendices
Market Share: Axle Shaft & Coil Spring Customer Model Rear Axle Shaft Y09 = 86 % Rear Axle Shaft Y09 = 86 % Toyota (100%) Fortuner, Vigo Mitsubishi (100%) Triton, 3E45 AAT (Mazda & Ford) (100%) BT-50, Ranger Market share Isuzu (59%) D-Max 4x4, 2x4 , 4x2 (3,000cc. Only), MU-7 FY’10 Pickup car Customer Model Mitsubishi (29%) Lancer (Rear) Toyota (9%) Camry (Rear) Honda (27%) (Accord ยังไมรวม ) Jazz, City (Rear) Coil Spring Y09 = 33 % Coil Spring Y09 = 33 % Nissan (77%) New Teana (Front), March(Fr&Rr) Passenger car Market share Customer Model FY’10 Toyota (59%) Fortuner, Vigo 4x4 Mitsubishi (100%) Triton, 3E45 Pickup car 14 14
Market Share: Leaf Spring & Stabilizer Bar Customer Model Leaf Spring Y09 = 12% Leaf Spring Y09 = 12% Mitsubishi (100%) Triton Pickup car Market share Customer Model FY’10 Hino (2%) Bus Mitsubishi Fuso Truck (0%) Trucks Commercial car Customer Model Mitsubishi (10%) Lancer Stabilizer Bar Y09 = 38% Stabilizer Bar Y09 = 38% Honda (45%) Jazz/City (FR) / Accord (RR) Toyota (19%) New Altis (FR) Passenger car Market share Customer Model FY’10 Toyota (56%) Fortuner, Vigo 4x4 Mitsubishi (100%) Triton, 3E45 Nissan (84%) LCV 4x2, Navara Pickup car 15 15
Market Share: Disc Brake & Drum Brake Disc Brake Y09 = 29% Disc Brake Y09 = 29% Customer Model Honda (100%) Jazz/City, Civic, Accord, CR-V Mitsubishi (8%) Space Wagon Passenger car Market share Customer Model FY’10 Mitsubishi (100%) Triton, 3E45 Pickup car Customer Model Honda (37%) City (Rear) Passenger car Drum Brake Y09 = 25 % Drum Brake Y09 = 25 % Customer Model Mitsubishi (100%) Triton, 3E45 Isuzu (59%) D-Max 4x4, 2x4, 4x2 (3,000 cc. only), MU-7 Market share Pickup car FY’10 Customer Model Mitsubishi Fuso Truck (0%) Trucks Commercial car 16 16
Market Share: Exhaust Manifold Exhaust Manifold Y09 = 18% Exhaust Manifold Y09 = 18% Customer Model Mitsubishi (18%) Lancer Passenger car Market share FY’10 Customer Model Mitsubishi (88%) Triton, 3E45 AAT (100%) BT-50, Ranger Pickup car 17 17
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