SCN 2Q2019 Financial Results Opportunity Day Presentation 12 - - PowerPoint PPT Presentation
SCN 2Q2019 Financial Results Opportunity Day Presentation 12 September 2019 SCAN INTER PUBLIC COMPANY LIMITED Agenda 1. SCN Overview and Key Highlights 3 2. Review of 2Q2019 Results 7 3. Business Direction and Update 13 Scan inter
SCAN INTER PUBLIC COMPANY LIMITED
Opportunity Day Presentation
12 September 2019
Scan inter PCL / Opportunity Day / 12 Sep 2019
Agenda
1. SCN Overview and Key Highlights 3 2. Review of 2Q2019 Results 7 3. Business Direction and Update 13
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Scan inter PCL / Analyst Meeting / 5 June 2019
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Gas
Automotive
Renewable
Logistic
Operates Mitsubishi showrooms, retrofit center and a bus manufacturing, sales and maintenance business
Business Overview
Leading integrated natural gas service provider offering turnkey EPC, equipment and spare parts, transportation of NGV and service stations across Thailand Portfolio comprising 2 operating solar plants with combined capacity
in Myanmar Freight transportation for factories in Laem Chabang and Map Ta Phut industrial estates and nearby provinces
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Scan inter PCL / Opportunity Day / 12 Sep 2019
Gas Businesses - Integrated Natural Gas Service Provider
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Distribution Pipeline Myanmar Import LNG Domestic Supply Regasification Conventional Station Compression Gas Quality Improvement Daughter Stations Factories Natural Gas Vehicles
Private Mother Stations (PMS) Natural Gas Transportation Service Stations
End Users
EPC, Maintenance, Equipment, Spare parts and Testing Fuel System
Scan inter PCL / Opportunity Day / 12 Sep 2019
2Q 2019 Key Financial Highlights
Million
Revenue
Increase mainly driven by growth in sales from auto dealership while gas segment experience moderate growth
Million
EBITDA
Slight decline from additional expenses to drive business expansion ie. Bus assembly, renewable projects
Million
Net Profit
Jump in revenue and gain from bargain purchase of GEPT shares.
Revenue +7.2% YoY EBITDA
YoY Net Profit +13.4% YoY
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Scan inter PCL / Opportunity Day / 12 Sep 2019
Agenda
1. SCN Overview and Key Highlights 3 2. Review of 2Q2019 Results 7 3. Business Direction and Update 13
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Scan inter PCL / Opportunity Day / 12 Sep 2019
124 156 130 163 121
20.0% 24.0% 12.0% 16.0% 18.5%
2Q18 3Q18 4Q18 1Q19 2Q19
EBITDA margin
Growth through Diversifications Amid NGV Downturn
Revenue
increased by THB 309.6 million from last year, or 22.3% YoY and increase 7.2% from the same period last year. Major contribution of revenue increase from Automotive segment in both the sales of NGV buses and auto dealer business.
EBITDA
THB 121.0 million primarily due to Gas and Logistic segments having high cost from investment to support higher growth and support more customers.
612 651 1,084 1,040 411 173
16 37
2Q18 3Q18 4Q18 1Q19 2Q19
Total Sales
(THB MM)
EBITDA
(THB MM)
+7.23% yoy
Gas Auto (Dealership) Renewable Others
656
% of Sales 7
Auto (NGV Buses) 19
Scan inter PCL / Opportunity Day / 12 Sep 2019
61 77 148 64 48
50 100 150 200 250 300 350 400 450 5002Q18 3Q18 4Q18 1Q19 2Q19
41 37 33 33 36
50 100 150 200 250 300 350 4002Q18 3Q18 4Q18 1Q19 2Q19
81 69 58 61 60
50 100 150 200 250 300 350 400 450 5002Q18 3Q18 4Q18 1Q19 2Q19
104 118 126 133 141
50 100 150 200 250 300 350 400 450 5002Q18 3Q18 4Q18 1Q19 2Q19
108 142 133 119 125
50 100 150 200 250 300 350 400 450 5002Q18 3Q18 4Q18 1Q19 2Q19
iCNG
(THB MM)
5.0% qoq
Stations
(THB MM)
36.0% yoy 6.0% qoq
PMS
(THB MM)
TPL
(THB MM)
9.1% qoq
EPC & Others
(THB MM)
Gas Business Units
Total Gas
(THB MM)
Consolidated Gas
increased by 4.31%YoY and 17.6% QoQ as sales from iCNG and service stations are rising but there is a decrease in EPC& maintenance.
398 444 498 410 411
19.3% 22.7% 8.0% 18.0% 17.5%
2Q18 3Q18 4Q18 1Q19 2Q19
Gross profit margin
4.31% yoy 0.24% qoq
%GP 8
Scan inter PCL / Opportunity Day / 12 Sep 2019
156 154 169 220 173 4 4 367 355
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5.9% 3.6% 8.1% 9.1% 2.0%
2Q18 3Q18 4Q18 1Q18 2Q19
Auto Dealer Bus Project Gross profit margin
536 160 158
Renewables and Automotive
Automotive
YoY and increase 20.2% compared to Q2/2018 for the first half of 2019, sales of automotive business increase from the last batch of 189 NGV buses with BMTA and in this period, sales from Auto dealer also doing great with growth of 11% in this quarter.
Renewables
and 5.3% YoY with a Well-managed in maintenance process, our solar cells have high capacity in generating electricity constantly. Thus, the renewable energy business will provide sustained revenue from existing solar power plant with a total size of 6.267MW.
Automotive
(THB MM)
Renewables
(THB MM)
+20.2% yoy +55.3% 6M18/6M19 15 14 14 16 16
64.1% 59.5% 62.6% 66.0% 67.0%
2Q18 3Q18 4Q18 1Q19 2Q19
192 +4.7 yoy
%GP %GP
576
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Scan inter PCL / Opportunity Day / 12 Sep 2019 72 68 60 112 69
41 30 46 73 47
2Q18 3Q18 4Q18 1Q19 2Q19
Net Profit and Operating Profit
Net Profit Operating Profit
+12.2% yoy +50.7% qoq
Net Profit and Operating Profit
(THB MM)
Operating Profit
2Q19,
profit decreased approximately THB 3 million or 4.2%YoY from 2Q18 and THB 43 million or 38.4 %QoQ reflects the Company’s focus on profitability and cost controls
Net Profit
by more than THB 15.9 million from the half year of 2018 of THB 103.3 million to 119.2 or 15.4% YoY and 13.4% from the same quarter
SG&A and gain from bargain purchase of GEP shares of THB 20.1 THB million.
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Scan inter PCL / Opportunity Day / 12 Sep 2019
Financial position as of 30 June 2019
million to THB 5,258 million is a result of payment received from other parties.
with a decreased in Interest-bearing debt with higher amount of trade accounts receivables since there is a decreased in interest-bearing debt.
million to THB 2,613 million in 2Q19 from net profit for the period. In 2Q19, the company has a total of THB 556 million in retained earnings, an decrease of 0.35% from last year.
Financial Position and Capital Structure
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56.8% 50.3% 43.2% 49.7%
0.00 1,000.00 2,000.00 3,000.00 4,000.00 5,000.00 6,000.00 7,000.00as of 31 Dec 18 as of 31 Jun 19
Liabilities & Equity
Total Liabilities Total Equity Cash Other Current Assets Non – Current Assets
0.9% 2.3% 32.1% 20.7% 67.1% 77%
1000 2000 3000 4000 5000 6000 7000as of 31 Dec 18 as of 31 Jun 19
Assets
6,052 5,258 6,052 5,258
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Scan inter PCL / Opportunity Day / 12 Sep 2019
Agenda
1. SCN Overview and Key Highlights 3 2. Review of 2Q2019 Results 7 3. Business Direction and Update 13
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Scan inter PCL / Opportunity Day / 12 Sep 2019
Panthera Motors brand, retrofit center and a bus manufacturing, sales and maintenance business and dealership. Portfolio comprising 2
combined capacity of 6 MW in Thailand and a 220 MW in Myanmar. Freight transportation for factories in Laem Chabang and Map Ta Phut industrial estates and nearby provinces. Leading integrated natural gas service provider
equipment and spare parts, transportation of NGV and service stations across Thailand.
Business stragy 3+1
OUR VISION “The Leader in energy innovations and technology in Asia Pacific. ”
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Scan inter PCL / Opportunity Day / 12 Sep 2019
Shift to Natural Gas Industrial User and International Market
Industrial Users
Since its establishment iCNG in 2015 unit has achieved
price-point, cleanliness and fuel efficiency of natural gas
The exponential growth of iCNG and potentially iLNG enables SCN to mitigate the impact from NGV declines and continue to grow. In addition, off-takers of natural gas are large industrial manufacturers with strong balance sheet with multiple year contract.
International market
While SCN has been exporting its engineering know- how and equipment including the compressors and its patented pressure reducing system (PRS) to ASEAN nations such as Vietnam, Indonesia and Myanmar. In recent years, Sojitz Corporation (SJC) has been cooperating with SCN on research and development which successfully delivered a commercialized of Type 4 Composite Gas Cylinder under the brand “N4” in 2018. In early 2019, SCN accepted SJC’s request to be appointed a distributor of SCN-branded products in Japan, India, Myanmar, Malaysia, Vietnam and Indonesia.
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Scan inter PCL / Opportunity Day / 12 Sep 2019
939,000
Q2 Q1
245,794 539,360 856,018 1,153,926 1,294,345
Jul 2015 2016 2017 2018 2019
97.97 176.77 305.99 476.53
522.95
2015 2016 2017 2018 2019
iCNG Volume and Revenue at the end of 2019
In 2Q2019 volume and revenue continue to grow due to both new clients and current clients that trusted in our product and services. At the latest, increasing usage capacity from our current clients shows that we have high-quality products and good relationships which will affect revenue in 3Q2019 to certainly increase and forecast to 4Q2019 by using iCNG volume average per day from actual data 7 months include predicted to the end of the year more than 1.3 million MMBTU (3500 MMBTU/day) or THB 520 million. Volume
(MMBTU)
Revenue
(THB MM)
Actual data (Jan-Jul) Forecast
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Scan inter PCL / Opportunity Day / 12 Sep 2019
5 6 56 106 156 226 2017 2018 2019 2020 2021 2022 BPS VON Minbu
Renewable Businesses - Growing Portfolio of High Quality Assets
Gross Equity In Operation 6 MW 6 MW Under development 220 MW 66 MW Total 226 MW 72 MW
Myanmar (1 project) Thailand (2 projects)
Project: Bangpasri Location: Nakhon Pathom, Thailand Capacity: 5 MW Type: Solar PV COD: 2017 Status: In Operation Tariff: 5.66 Baht/unit Project: Kalasin Location: Kalasin, Thailand Capacity: 1.27 MW Type: Solar PV COD: 2014 Status: In Operation Adder: 6.5 Baht/unit Project: Minbu Location: Minbu, Myanmar Capacity: 220 MW Type: Solar PV COD: 2019 Status: Under Development Tariff: 0.1275 USD/unit
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Scan inter PCL / Opportunity Day / 12 Sep 2019
10.25 20.47 30.64 45.09 40.73 4.1 8.19 12.25 17.92 16.29
PHASE 1 COD (50MW) PHASE 2 COD (50MW) PHASE 3 COD (50MW) PHASE 4 COD (70MW) Y5-Y30 AVERAGE
total revenue SCN 40% 19.00% 63.00% 77.00% 80.00% 88.00% EBITDA margin
Minbu Solar power plant Financial Projection
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Total Revenue
Unit: USD MM
SCN will recognize 40% share of profit of the associate company
Scan inter PCL / Opportunity Day / 12 Sep 2019
Solar Energy Potential in Thailand
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Source : Thaisolarenergy
Scan inter PCL / Opportunity Day / 12 Sep 2019
Sky-High Potential of Solar Rooftop in Thailand
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2010 2012 2013 2014 2015 2016 2017 2025 2036
18,000 MW 13,500 MW 9,000 MW 4,500 MW 0 MW Old road map, New road map.
Thailand’s first three 3GW and the new road map: Cumulative PV installed generating capacity. Thailand’s solar gold rush will continue
Source : Pugnatorius
Scan inter PCL / Opportunity Day / 12 Sep 2019
Expansion through Existing Core Values
NGV Filling Stations
Trusted by PTT, to build over 250 of 483 NGV stations in Thailand and continue to maintain over 70% of the stations since 2003
Recommended Retrofit Centers Mitsubishi Dealership EV and Charger NGV Buses Minibus, Electric and Hybrid Buses
Our emphasis on quality and reliability leads to being the recommended retrofit centers of Toyota and Mitsubishi motor companies. Over 50% of NGV taxis in Bangkok are done by SCN To capitalize on our retrofit centers, we opened
numerous awards both in sales and service. SCN through its joint venture company won a contract to supply 489 NGV buses with a 10- year maintenance contract to BMTA, a Bangkok-based bus operator, which has been successfully delivered. Our engineers successfully converted gasoline car to an electric vehicle. In addition, we are also preparing to launch our very own EV Chargers at multiple locations across Thailand. SCN and partners are in process of research and development (R&D) of various bus specificationn and fuel models for Thai market
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Scan inter PCL / Opportunity Day / 12 Sep 2019
Opportunities in Thai Bus Industry
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489 300 400 700 753 10 25 2018 2019 2020 2021
BMTA Procurement Plan
BMTA under the supervision published its plan to replenish 3,166 of its buses within 4 years with combined value of approximately THB 20,000
➢ Sales and maintenance of 489 NGV Buses (Completed) ➢ Lease and maintenance of 300 NGV buses (Pending) ➢ Lease and maintenance of 400 Diesel-Hybrid buses (Pending) ➢ Sales and maintenance of 1,453 Diesel-Hybrid buses (Pending) ➢ Sales and maintenance of 35 EV buses and charger (Pending)
Thai Bus Industry
In addition to BMTA’s procurement plan of 3,166 units of buses, there are a total of 159,975 buses of various types including vans, minibuses, microbuses, city buses and coaches that are our potential market.
NGV NGV Diesel Hybrid Diesel Hybrid Diesel Hybrid EV EV
489
NGV buses
2,677
Additional buses required by BMTA
3,166
BMTA-owned buses
159,975
Additional registered buses in Thailand
(Units) (Units)
Scan inter PCL / Opportunity Day / 12 Sep 2019
Current Products Line
JXK6120L 12400*485*3280 (mm) 47 - 57 seats NGV JXK6700 (Minibus) 7040*2050*2690 (mm) 19+1 seats CNG JXK6115 COACH 11500*2500 *3470 (mm) 45+1+1 seats Diesel
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Panthera motors in Bus & Truck 2019 at BITEC Bangna
About the Exhibition BUS & TRUCK 2019 The 16th Commercial & Special Purpose Vehicle Exposition Date 7 – 9 November 2019 Opening Hours 10.00 – 19.00 hrs. Location Bitec Bangna (H201)
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Scan inter PCL / Opportunity Day / 12 Sep 2019
Panthera motors in Bus & Truck 2019 at BITEC Bangna
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Scan inter PCL / Opportunity Day / 12 Sep 2019
IR Contact
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INVESTOR RELATIONS
Disclaimer The information contained in this material has been prepared by Scan Inter Public Company Limited (“SCN”) solely to provide background information on a confidential basis for the use by advisors, prospective lenders and investors in evaluating the project and does not constitute an offer or invitation to sell or solicitate of an offer or invitation to purchase or subscribe for share in SCN. Some statements made in this material are forward-looking with relevant assumptions subjecting to various risks and uncertainties. These include statements with respect to our corporate plans, strategies and beliefs. The statements are based on our management’s assumptions and beliefs in light of the information currently available. This may cause the actual results, performance or achievements to be materially different from the information expressed or implied. Please note that their information contained in this materials reflects prevailing conditions as of the time of the preparation accordingly subject to any update, change, modification, revision, cancellation, addition and/or may be superseded. The delivery of this material shall not create any implication that there has been no update, change, modification, revision, cancellation, addition to the information contained in the IM since the date hereof. None of the parties named in this material, or any of their affiliates/representatives shall have any liability (in negligence or otherwise) for any loss arising from any use of this document or otherwise its contents.
Email: IR@Scan-Inter.com Tel: +66 2513 4116 Ext. 310 Contact Us: 355 Bondstreet Road, Pakkred, Bangpood Nonthaburi 11120