SIAM FUTURE DEVELOPMENT PUBLIC CO., LTD. Corporate Presentation 2017 - - PowerPoint PPT Presentation

SIAM FUTURE DEVELOPMENT PUBLIC CO., LTD.

Corporate Presentation 2017

Overview Financial Summary

Project Update

2

Presentation Agenda

Founded:

1994

Staff:

75

Centers:

22

Vision “Unlike other developers,

we create a place for people

first then for business. “

3

Overview

1994

Established “Siam Future Development”

1995 Opened first open-air shopping center “Bangbon” 1996 Opened “Prachautid” and “Sukaphiban 3” 1998 Opened “Sukhumvit 71” 2000 Opened 2 Convenient centers and 8 B-quik centers 2002 Listed in MAI and

• pened “Thonglor”

2003 Listed in SET PP to Major Cineplex Group and

• pened “Thungmahamek”

2004 Opened “Changwattana”, “Ladprao120”, ”Chachoengsao”, “Piyarom Place” and “J Avenue” 2005 Opened “Wanghin 2”, “Petchkasem” and “Ekkamai” 2006 Completed Changwattana”, “La-villa” and “Esplanade” 2007 Opened “Pattaya” and “Kao-yai” 2008 Opened “Nawamin” and “Ratchayothin” 2009 Opened “Nawamin City Avenue” 2011

• Open 1st IKEA Store in Thailand
• Open “Nawamin Festival Walk”

2012 Open Megabangna

4

Development Timeline

2017

• Open “Plot H at Megabangna”
• Open “Marketplace Nanglinchee

Phase 1”

Format 2015 2016 2017 Average size (sq.m.)

• No. of

centers GLA (sq.m.)

• No. of

centers GLA (sq.m.)

• No. of

centers GLA (sq.m.) Lifestyle Center 6 77,709 6 77,709 6 77,709 10,000 Power Center 3 67,217 3 67,217 3 67,217 22,500 Entertainment Center 1 43,241 1 43,241 1 43,241 43,000 Neighborhood Center 7 38,389 7 38,389 7 42,000 5,500 Convenience Center 2 1,178 2 1,178 2 1,178 600 Automotive Service center 2 829 2 829 2 997 400 Super Regional 1 180,000 1 180,000 1 191,216 191,216 Total 22 408,563 22 408,563 22 423,558 19,253 Occupancy Rate 98% 93% 88%

5

Leasable Area and Occupancy

Note: GLA = Gross Leasable Area

Shareholding Structure

23% 51% 26%

10% 3% 7% 4% 16% 30% 4%

Major Cineplex Group PLC. Management Freefloat

Witoonchart group Pojkasemsin Group Suttapong Group Jantaraprapa Group Foreigners Retails

Number of shares: 1,776.61 Million

Source: Shareholder list as of 31 Dec 17 6

Local Institutions

Overview Financial Summary

Project Update

7

Presentation Agenda

12,460 14,422 14,920 17,240 5,314 5,516 5,289 6,095 7,146 8,906 9,632 11,144 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 Y2014 Y2015 Y2016 Y2017 Million Baht Assets Liabiilites Equity

8

Balance Sheet

(Million Baht)

Remarks: * Fair value adjustment on Investment Property= Depreciation & Amortization + Gain (Loss) from revaluation

9

Income Statement (Management Account)

2014 2015 2016 2017 1 Recurring Revenue 1,394 1,429 1,431 1,414 2 Cost of rental & service (955) (909) (911) (932) 3 Gross profit 439 520 520 482 4 SG&A (229) (233) (238) (242) 5 EBIT 210 287 282 239 6 Interest expenses (95) (96) (75) (71) 7 Income tax (32) (38) (46) (22) 8 Minority (18) (21) (18) (17) 9 Recurring profit (excl. Megabangna) 65 131 143 130 10 Profit from joint venture 191 201 281 370 11 Total recurring profit 256 332 424 499 %growth (YOY) 48% 30% 28% 18% Total recurring profit per share (Baht/share) 0.18 0.20 0.24 0.28 12 Add: Profit from Fin Lease (after tax) 2

• 13

Fair value adjustment on IP*– SF (after tax) 161 679 246 253 14 Fair value adjustment on IP– Megabangna (49%) 284 397 294 1,088 15 Net profit 700 1,408 964 1,841 Earnings per share (EPS) (Baht/share) 0.49 0.85 0.54 1.04 Average Occupancy Rate (%) 93% 93% 93% 88% Average number of shares (million shares) 1,431 1,665 1,777 1,777 Dividend per share (Baht/share) Stock dividend 5:1 0.15 0.20 0.25 Dividend Yield (%) n.a. 2.40% 3.25% 3.21%

Profit Structure

Megabangna’s Recurring Profit

As of 30 Sep 2017 10

Others, 6% Petchkasem , 2% La Villa, 4% J Avenue, 4% Esplanade, 8% 89 240 393 474 634 818

• 100

200 300 400 500 600 700 800 900

2012 (8m) 2013 2014 2015 2016 2017

Million Baht

Megabangna, 72%

Rental Structure

17% 83%

by Revenue

27% 73%

by GLA

As of 31 Dec 2017

Revenue Sharing

11

Fixed Rent 73% Fixed Rent Fixed Rent Revenue Sharing

Costs Breakdown

20% 26%

Utilities 22%

32%

Depreciation & Amortization

Operating Land Rent

17% 58%

6%

19%

Depreciation

SG&A Breakdown

As of 30 Sep 2017

Personnel Marketing Admin

12

As of Dec-16

Total Debt = 1,550 million Baht Average interest rate = 4.43%

As of Dec-17

13

Total Debt = 2,221 million Baht Average interest rate = 3.76%

0.27 0.22 0.16 0.20

• 0.1

0.2 0.3 Y2014 Y2015 Y2016 Y2017

D:E Ratio

Debt Structure

INDEX 2014 2015 2016 2017 SET Index 1,498 1,288 1,543 1,754 SF (stock price) 6.25 6.25 6.15 7.80 Market Cap (MB) 9,256 11,104 10,926 13,858 Dividend Summary Par Value (Baht) 1.00 1.00 1.00 1.00 Dividend Paid (MB) Stock Dividend 5:1 266 355.3 444.2 Dividend/share (Baht) 0.22223 0.15 0.20 0.25 Dividend Payout Ratio N.A. 80% 84% 89% Statistics as of 29 Dec 17 * Stock Price 7.80 Par Value (Baht) 1.00 Share Capital (M shares) 1,776.61 P/E (times) 13.62 Market Cap (MB) 13,858 P/BV (times) 1.49

14

Stock Information and Dividend

* Source: www.set.or.th

Overview Financial Summary

Project Update

15

Presentation Agenda

16

* Subject to change upon future situation

Expansion Plan*

219,641 237,308 235,229 224,120 231,795 229,600 229,600 228,906 228,563 228,563 225,686 213,276 180,000 180,000 180,000 180,000 180,000 180,000 180,000 6,500 6,500 11,000 11,000 4,500 6,540 18,360 95% 98% 95% 98% 97% 97% 94% 93% 98% 93% 88% 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F

GLA (sq.m.)

Existing Megabangna Nanglinchee-Ph.1 Megabangna Retail expansion (Plot H) Nanglinchee-Ph.2 Dusit Megabangna Retail expansion (Plot A) Occupancy Rate

17

* Subject to change upon future situation

Project Objective Existing GLA (sq.m.) Future GLA (sq.m.) CAPEX (mil baht) Target Opening Date SF

• Nanglinchee

(expansion) Lifestyle Center 2,900 11,000 660 Phase 1: Nov-17 Phase 2: Sep-18

• Dusit

Lifestyle Center

• 6,540

295 Dec-18

• Thonglor 4

(redevelopment) Lifestyle Center 3,600 15,500 850 Y2020 Total 6,500 33,040 1,855 Megabangna & Megacity

• Plot H

Retail extension + Parking

• 11,000

1,080 Dec-17

• New Ring Road

Car and Pedestrian link

• n.a.

115 Dec-17

• Plot A (land lease
• nly)

Outdoor entertainment + Leisure for family

• 18,000

150 May-18

• Plot D

Edutainment

• 8,500

350 Mar-19 Total

• 37,500

1,695

Expansion Plan*

18

Marketplace Nanglinchee (Expansion)

Shopping centre format Lifestyle center GLA 11,000 sq.m. Anchor Tops Market Target Opening Phase 1: Nov-17 Phase 2: Sep-18

19

Market Place Dusit

Shopping centre format Lifestyle center GLA 6,540 sq.m. Anchor Tops Market Target Opening Dec-18

20

Marketplace Thonglor4 (Redevelopment)

Shopping centre format Lifestyle center GLA 15,500 sq.m. Anchor Tops Market Target Opening Y2020

22

Land Area 254 Rais (406,400 sq.m.) Building Area 400,000 sq.m. Leasable Area 191,000 sq.m. Opening 5 May 2012 Tenants

• In line units 511 shops
• Common area units 355 shops

Parking Space 8,160 cars & 1,587 motorcycles

Megabangna, Fact Sheet

Anchors: 102,000 sq.m.

23

34% 14% 52%

Megabangna, Tenants Mix

Mini-anchors: 24,000 sq.m. Tenants: 58,000 sq.m.

Megabangna Transformation to Megacity

24

25

Megabangna&Mega City: Land Plot Summary

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Project Location Plot H Land Area 6.5 Rai Leasable Area 11,000 sq.m. Parking Space 1,100 cars Opening Dec-17

Retail Expansion and Parking Deck

Plot H: Tenants

28

Opening: Dec-17

New Ring Road - Car and Pedestrian link

29

Project Location Plot A Leasable Area 18,000 sq.m. Opening May-18

Retail Expansion – Outdoor Entertainment & Leisure

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Project Location Plot D Leasable Area 8,500 sq.m. Opening Mar-19

Retail Expansion – Edutainment

31

For Further Information

Contact: Investor Relations Team Tel (662) 660-9464 Tel (662) 660-9465 Tel (662) 660-9474 Fax (662) 660-9020 E-mail panravee@siamfuture.com woramon@siamfuture.com kulwanida@siamfuture.com Website www.siamfuture.com