SUPER Opportunity Day Presentation: August 30, 2019 (As of - - PowerPoint PPT Presentation
SUPER Opportunity Day Presentation: August 30, 2019 (As of FSQ2/2018) SUPER ENERGY CORPORATION PUBLIC COMPANY LIMITED Private & Confidential Agenda Company Profile 1 and Projects history 2 On Going Projects 3 Financial Highlights
Opportunity Day
Private & Confidential
Presentation:
August 30, 2019 (As of FSQ2/2018)
SUPER ENERGY CORPORATION
PUBLIC COMPANY LIMITED
Company Profile and Projects history On Going Projects Financial Highlights Potential Projects & Others 1 2 3 4
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Company Milestone (1st half 2019)
13‐8‐2019 >> Establishment of "Super Water PPS Co.,Ltd"
Jan 2019 Jun 2019
Performance 1st Half Y2019
27‐2‐2019 >> Sign the share purchase agreement of wind power plant project in Vietnam of 250 MW 14‐8‐2019 >>SUPEREIF Investment Day 21‐8‐2019 >>SUPEREIF 1st Trading Day 26‐6‐2019 >> acquisition of shares in SUPERW and JVTPN >> COD for Solar In VN of 186.72 MW
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Company Profile
Waste Energy
Production and Distribution of Electricity by COMMUNITY & INDUSTRIAL WASTE
Solar Energy
Production and Distribution of Electricity by SUNLIGHT Operation and Maintenance Services (O&M)
Wind Energy
Production and Distribution of Electricity by WIND POWER
Water Group
Production and Distribution of WATER INDUSTRIAL & CONSUMPTION
IT
Information & Communications Technology Services by PERSONNEL OUTSOURCING
Business Outlook
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Company Structure
SUPER
2,734.95 MB
Super Energy Group
10,000 MB
Super Solar Energy
10,000 MB
Pro Solar One
263.25 MB
Super Earth Energy
1,000 MB
Lemon Gold Farm
1 MB
Super Wind Energy
0.1 MB
Super Water
100 MB
Thai Panichnawa Construction and Langnumthai Join Venture
100 MB
Super Speed Construction
100 MB
Corporate Structure in Thailand
Subsidiary Companies 768.60 MW In Thailand In Vietnam In Thailand In Vietnam
100% 76% 100% 100% 100% 76.25% 100% 100% 100% 100%
Subsidiary MW Province GPE 9.0 Sakaeo SEE6 9.0 Phichit NKNY 6.0 Nongkai SEE8 16.0 Nonthaburi SEG 8.0 Phetchaburi GPE 16.0 Nakhornsitammarat Total 64.0 Projects MW Province Phan Lam1 36.7 Binh Thuan Binh An 50.0 Binh Thuan Van Giao1 50.0 An Giang Van Giao2 50.0 An Giang Sinenergy 50.0 Ninh Thuan Total 236.72 Projects MW Province Soctrang1 30.0Soctrang Baclieu 142.0Baclieu Soctrang2 68.0Soctrang Camau1‐3 300.0Camau HBRE 50.0Gia Lai HBRE 200.0Phu Yeni Total 790.0
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Amata Nakorn Industrial
Year Quantity (m3) Average/ Month (m3)
2018 (Dec) 70,000 ‐ 2019 (Jan‐Jul) 3,231,172 461,596 Chai Mongkhon, Samut Sakhon
Year Quantity (m3) Average/ Month (m3)
2018 1,543,459 128,629 2019 (Jan‐Jul) 2,006,380 286,626
Open Technology
40 MB
Company Structure (cont)
Corporate Structure in Foreign
Super Solar Energy
SUPER ENERGY GROUP (HONG KONG) SUPER SOLAR ENERGY (HONG KONG) 1
Nam Veit Phan Lam
36.72 MW
Everich Binh Thuan Energy
50 MW
SUPER SOLAR ENERGY (HONG KONG) 2
Van Giao1 Solar Power Plant
50 MW
Van Giao2 Energy Plant
50 MW
Super Energy (East)
Super Wind Energy
Super Wind Energy Congly1Joint Stock
Phase 1, 272 MW
HBRE GIA LAI 50+50 MW HBRE PHU YEN 200 MW
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Sinenergy Ninh Thuan
50 MW Customer Portfolios
Diversify Customer Portfolios
Energy Business Water Business IT Business
Private Company 15% Government 85% EGAT 4% MEA 1%
PEA 77%
EVN 18%
Industrail 57.3% Governm ent 29.1% Household 13.6% Note : Base on MW Note : Base on Employer Note : Base on Quantity of water distribution
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On Going Projects
TH 9 MW VN 186.72 MW TH 37 MW TH 10 MW TH 542.15 MW TH 175.5 MW TH 12.95 MW
In Y2019
2018 2016 2017 2015 2014
COD Date(Year)
Sites COD (MW) 2018 1 9.00 COD within Dec 2019 (Phichit) 1 9.00 COD within 2021 (Nongkhai) 1 6.00 COD within 2022 (Phetchaburi) 1 8.00 In processing PPA (Nonthaburi) 1 16.00 In processing PPA (Nakhonsithammarat) 1 16.00 Total 6 64.00 COD Date(Year) No. Of Sites COD (MW) Accum, COD 2011 3 6.00 6.00 2012 1 1.00 7.00 2013 1 0.95 7.95 2014 1 5.00 12.95 2015 20 175.50 188.45 2016 96 542.15 730.60 2017 2 10.00 740.60 2018 6 28.00 768.60 2019
In processing of PPA 4 35.90 Total 134 806.50
Solar Energy Waste Energy
COD Date(Year) Type Energy COD (MW) 2019 SOLAR 186.72 COD With in Oct 2019 SOLAR 50.00 COD within 2021 (HBRE) WIND 300.00 COD within 2021 (Congly) WIND 272.00 COD within 2021 (Congly) WIND 200.00 COD within 2021 (Soctrang1-2) WIND 68.00 Total 1,076.72
Solar & Wind Energy in Vietnam
137 Project, Total 1,023.32 MW
In processing of PPA as SOLAR 19.9 MW & HYBRID 16 MW
Performance Growth Highlight
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Energy
Sites MW Thailand Solar 130 768.60 Waste 1 9 Total Thailand 131 777.60 Vietnam Solar 4 186.72 Total Vietnam 4 186.72 Total SUPER 135 964.32
Total Projects COD already
On Going Projects
Central 64 site / 402.75 MW / 48.14% Eastern 60 site / 350.10 MW / 41.85% Northern 3 site / 20 MW / 2.39% Southern 10 site / 63.75 MW / 7.62% Central 1 site / 50 MW / 21.12% Southern 4 site / 186.72 MW / 78.88%
Locations
Waste Power Plant
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Solar Farm in Vietnam : Phanlam1, 36.72 MW
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Solar Farm in Vietnam : Binh An, 50 MW
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Solar Farm in Vietnam : Van Giao1, 50 MW
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Solar Farm in Vietnam : Van Giao2, 50 MW
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Solar Farm in Vietnam : Sinenergy, 50 MW
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Waste to Energy Project GPE
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Waste Energy 9.9 MW COD at 14 Jun 2018
Year Capacity (kWh) Average/ Month (kWh) Revenue (MB) / year 2018 (Jun‐Dec) 32,455,680 4,636,525.71 218.83 2019 (Jan‐Jun) 31,240,560 5,206,760.00 211.02 Projects Installed MW / PPA MW Adder or Fit / unit Technology Expect Revenue (MB) / year1/ GPE (Industrail Waste) 9.9 / 9.0 3.50 for 7 year Circulating Fluidized‐Bed (CFB) 450
Performance after COD
1/ assumption base on received adder 3.50 baht / unit for 7 years This’s after 7 year on expected revenue about 320 MB
Waste to Energy Project SEE6
Waste Energy 9.9 MW
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Projects Installed MW / PPA MW Adder or Fit / unit Technology Fuel Expect Revenue (MB) / year1/ SEE6 (Community Waste) 9.9 / 9.0 3.50 for 7 year Step Grate / Stoker RDF 100% 420
1/ assumption base on received adder 3.50 baht / unit for 7 years This’s after 7 year on expected revenue about 250 MB
Target COD at Dec 2019
Financial Highlights
Statement of Profit & Loss Q2‐2019
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6 Month / Million Baht Consolidate Q2‐Y2019 Q2‐Y2018 Revenue 3,198 2,919 Gross profit 1,789 55.9% 1,694 58.0% EBITDA 2,474 77.4% 2,522 86.4% Gain(Loss) on foreign exchange rate (11) (0.3%) 26 0.9% Administrative expenses (235) (7.3%) (176) (6.0%) Financial cost (765) (23.9%) (718) (24.6%) Profit from investments 29 0.9% 53 1.8% Net Profit(loss) for the period 813 25.4% 898 30.8%
Financial Highlights as of Q2‐2019
Revenue (MB)
0.00% 20.00% 40.00% 60.00% 80.00% 100.00% Solar TH Solar VN Waste Wind IT 96.99% 0.00% 0.75% 0.00% 2.26%
Compare Q2 on Q2 Q2‐2018 Q2‐2019 Increase / (Decrease) % Solar TH 2,832.00 2,950.66 118.66 4.19 Solar VN
7.26 100.00 Waste 22.00 197.83 175.83 799.21 Wind
‐ ‐ IT 66.00 41.73 (24.27) (36.77) Total 2,920.00 3,197.48 277.48 9.50 Compare Q1 & Q2 in 2019 Q1‐2019 Q2‐2019 Increase / (Decrease) % Solar TH 1,503.35 1,447.31 (56.05) (3.73) Solar VN ‐ 7.26 7.26 100.00 Waste 94.33 103.49 9.16 9.71 Wind ‐ ‐ ‐ ‐ IT 19.62 22.12 2.50 12.74 Total 1,617.30 1,580.17 (37.13) (2.30)
Q2‐2019 (6 month) Q2‐2018 (6 month)
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In 1st half year 2019 , SUPER’s revenue more than 90% from SOLAR ENERGY and the growth from WASTE ENERGY & SOLAR VN with its high season all business. The proportion dropped of solar cells from 96.99% to 92.28% is sharing by increase of waste energy and solar energy in Vietnam. 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Solar TH Solar VN Waste Wind IT 92.28% 0.23% 6.19% 0.00% 1.31%
Overall Q on Q increased 9.50%
Note : Revenue of electricity sale only
Financial Highlights as of Q2‐2019
Cost & Gross Profit (MB)
1,000 1,500 2,000 2,500 3,000 Y2015 Y2016 Y2017 Y2018 Q2-2019 137 1,372 1,903 1,987.39 1,036 86 184 482 640 374 Depreciation (non cash) Cost of sales & services (cash)
Gross Profit (Unit : MB) Cost (Million Baht)
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173 2,055 3,125 3,102
1,000 1,500 2,000 2,500 3,000 3,500
Y 2 0 1 5 Y 2 0 1 6 Y 2 0 1 7 Y 2 0 1 81600 1650 1700 1750 1800 Q2 2018 Q2 2019
Gross Profit Q on Q
1,693.62 1,788.66
Financial Highlights as of Q2‐2019
Net Profit & EBITDA (MB)
Expenses (Unit : MB) Net Profit & EBITDA (Unit : MB)
1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 Y2015 Y2016 Y2017 Y2018 Q2-2019 818 522 1,512 1,274 813.10 955 2,960 4,757 4,751 2,473.68 NET PROFIT EBITDA ‐ 200.00 400.00 600.00 800.00 1,000.00 1,200.00 1,400.00 1,600.00 Y2015 Y2016 Y2017 Y2018 Q2‐2019 590.30 530.22 410.38 505.22 234.83 236.08 1,201.09 1,454.33 1,456.72 765.391
Finance costs Administrative expenses Selling expenses
Net Profit Margin has been stable around 30% to 35%
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EBITDA Margin has been higher stable around 80% to 85% from higher energy revenue & lower
Admin Expens % of Revenue Q1‐2019 Q2‐2019 Q2‐2019 (6 month) 6.01% 8.70% 7.34%
In 1st half year 2019 , SUPER’s Administrative Expenses about of 7.34% that’s included of expenses is ONE TIME and REGULAR
Expenses of employee, Advisory Fee, Tax expenses, Rent and Fees and others
Financial Highlights as of Q2‐2019
Balance Sheet (MB)
20,000.00 30,000.00 40,000.00 50,000.00 60,000.00
49,649.96 57,899.50
ASSET
20,000.00 30,000.00 40,000.00 50,000.00
32,094.91 40,240.05
LIABILITIES 70%
10,000.00 15,000.00 20,000.00
17,555.05 17,659.45
Equity 30%
Capital Structure
2.27 2.27 1.89 1.83 2.28 1.35 1.93 1.79 1.77 1.92
1.00 1.50 2.00 2.50 Y2015 Y2016 Y2017 Y2018 Q2-2019 D/E Ratio 1 D/E Ratio 2
Long‐term borrowings 27,194.06 MB or 67.58% Trade & other payables 6,268.44 MB or 15.58% Property, plant and equipment 38,443.10 MB or 66.40% Right to electricity 3,772.67 MB or 6.52% Other non‐current assets 2,808.23 MB or 4.85%
Remark: 2/ Excluding trade and other payables
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Potential Projects & Others
Potential Growth
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MW COD
2018 2019 2020 Jan‐Dec Jan‐June July‐Dec Total SOLAR Solar‐Thailand Adder 12.95 12.95 12.95 12.95 12.95 FIT 668.65 668.65 552.15 552.15 552.15 FIT(Associated) 87.00 87.00 87.00 87.00 87.00 SUPEREIF 118.00 118.00 118.00 768.60 768.60 770.10 770.10 770.10 Solar‐Vietnam 236.72 236.72 236.72 Solar‐ Vietnam **NEW** 275.00 Solar‐ Malaysia 75.00 TOTAL SOLAR 768.60 768.60 1,006.82 1,006.82 1,356.82 Economic MW 453.23 453.23 690.69 690.69 1,040.69 WTE GPE 9.00 9.00 9.00 9.00 9.00 SEE6 9.00 9.00 9.00 Nongkai 6.00 Banlad Nontaburee Nakornsrithammarat TOTAL WTE 9.00 9.00 18.00 18.00 24.00 Economic MW 9.00 9.00 18.00 18.00 22.02 WIND Wind 1 30.00 GiaLai 100.00 TOTAL WIND 130.00 Economic MW 130.00 TOTAL SUPER 777.60 777.60 1,024.82 1,024.82 1,510.82 TOTAL ECONOMIC MW 462.23 462.23 708.69 708.69 1,192.71
Potential Projects & Others
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2018 2019 2020 Jan‐Dec Jan‐June July‐Dec Total REVENUE SOLAR Solar‐Thailand Adder 215 112 101 213 211 FIT 4,196 2,326 2,043 4,369 4,339 FIT(SUPEREIF) 963 514 128 642 Solar‐Oversea Solar‐Vietnam 7 683 690 1,008 Solar‐Vietnam**NEW** 258 Solar‐ Malaysia 62 WTE GPE 214 197 212 409 414 SEE6 420 WIND Wind 1 833 GiaLai 96 TOTAL REVENUE 5,588 3,156 3,846 6,324 7,641 Profit sharing RNS 50.00 50.00 SUPEREIF 76.74 70.00 TOTAL INCOME 5,588 6,450 7,761
Potential Revenue
Private & Confidential
Project Pipeline and Potential
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Pipeline + Potential Project
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Private PPA Hybrid Solar Vietnam Solar Malaysia
Projects East Water SSE Sinenergy New New PPA (MW) 33.24 16.0 In process 50.0 275.0 In process 75.0 In process Installed (MW) 33.24 32.0 50.0 275.0 75.0 Adder or Fit Rate Discount from market rate In process 9.35 Uscents / kWh In process In process Location Rayong & Chonburi Province Expected Sakaeo Province Ninh Thuan Province In process Kam Phur, Perak, Malaysia Project type Floating, On ground, Roof PV Module + Bio Gas PV Module PV Module PV Module Tentative COD (Year) 2019 In process Oct 2019 In process In process Expected Revenue (MB) / Year 166.2 In process 220 258 62
SOLAR ENERGY
Pipeline + Potential Project
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Wind Project Name
Khai Long Soc Trang Bac Lieu HBRE‐Phu Yen HBRE‐Gia Lai
Project Company Super Wind CongLy JSC Super Wind CongLy SocTrang JSC Super Wind CongLy BacLieu JSC HBRE Phu Yen Joint Stock Company HBRE Gia Lai Joint Stock Company Capacity 100 MWp 98 MWp 142 MWp 200 MWp 50+50 MWp Location Ca Mau Province Soc Trang Province Bac Lieu Province Off Taker EVN EVN EVN EVN EVN PPA October 31, 2017 In Process In Process In Process In Process Power Purchase Tariff 9.8 UScents/kWh 9.8 UScents/kWh 9.8 UScents/kWh 8.5 UScents/kWh 8.5 UScents/kWh Duration of PPA 20 years from COD 20 years from COD 20 years from COD 20 years from COD 20 years from COD
WIND ENERGY
Pipeline + Potential Project
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Nongkhai (Quick Win) Nonthaburi (Quick Win) Phetchaburi Nakhonsithammarat PPA 6 MW FiT‐PEA‐001/2562 16 MW In process 8 MW VSPP‐PEA‐001/2560 16 MW In process Installed 8.0 MW 20.0 MW 9.9 MW 20.0 MW Adder Rate Fit 5.08 /Unit for 20 years Fit 3.66 /Unit for 20 years Adder 3.50 THB/Unit for 7 years Fit 3.66 THB/Unit for 20 years Location Tumbol Phonsawang, Amphoe Mueangnongkhai, Nongkhai Tumbol Khlongkhwang, Amphoe Sainoi, Nonthaburi Tumbol Thasen, Amphoe Banlat, Phetchaburi Nakhonsithammarat Land 95‐0‐56 Rai 57‐0‐0 Rai 22‐1‐25 Rai In process Project type Waste Power Plant Waste Power Plant Waste Power Plant Waste Power Plant Fuel MSW MSW MSW and RDF MSW 11,400 – 12,000 Ton/Month 30,000 – 36,000 Ton/Month 9,300 – 10,500 Ton/Month 10,500 Ton/Month Technology Stoker incineration by Hitachi Zosen Pyrolysis and Gasification by Nippon Steel Stoker incineration Stoker incineration Tentative COD December 2021 Y2022 Y2022 Y2022 Expected Revenue
(MB) / Year
270 700 440 500
WASTE ENERGY
Pipeline + Potential Project
WATER
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โครงการสมุทรสาคร โครงการอมตะนคร (ชลบุรี) โครงการ กปภ.ภูเก็ต
On Going Projects
Super Water
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Super Water Business
Provincial Waterworks Authority , Phuket Minimum (m3/Day) Start Term of Contract (Years) Expected Revenue (MB) /year Chalong Sub‐district #1 3,000 Nov, 2019 5
(rate 11.35 Baht/M3)
13.55 Chalong Sub‐district #2 2,400 Nov, 2019 5
(rate 12 Baht/M3)
12.29 Kathu Sub‐district (West) 2,400 Oct, 2019 5
(rate 13 Baht/M3)
13.30 Kathu Sub‐district (East) 2,400 Dec, 2019 5
(rate 11.5 Baht/M3)
11.77 Total 10,200
Minimum 5 Million cubic meter / year Contract 25 Years (Rate 7.2 / Unit M3) Expected Revenue 36 MB / year (base on minimum 5 million M3)
with signed contracts already
Business Outlook
Performance Quantity (m3) Average / Month (m3) Revenue (MB) 2018 (Dec) 70,000 ‐ 0.50 2019 (Jan‐Jul) 3,033,344 430,722 21.84
Super Water Business
Thai Panichnawa Construction and Langnumthai Join Venture
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Business Outlook
1. Water distribution for industrial samut sakhon area (Rate 10‐20. 75 / Unit M3)
around of Chai Mongkhon, Samut Sakhon area as per contract 25 years (Rate 5.5‐16.00/ Unit M3) Expected Total Revenue 84 MB / year
EARTWATER (U‐TAPAO) Capacity 10,000 m3/ year Performance
Quantity (m3) Average / Month (m3) Revenue (MB) 2018 1,543,459 128,629 27.73 2019 (Jan‐Jul) 2,006,380 286,626 35.64
Financial Highlights
Key Financial Highlight of Q3‐2019 >> SUPEREIF
Rights of investment Allocation
MB % 1 Fund Size SUPER 1 1,030 20% Retail 10,346 2,270 44% Institutional 13 1,850 36% Total 10,360 5,150 100% 2 Loan 3,000 Total of Investment 8,150
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Disclaimer
This presentation herein should be used for investor information only. It should not be used as an offer or invitation to purchase or sell SUPER shares. Additionally, this presentation contains forward‐ looking statements and assumptions that are subject to risks and uncertainties. Investors or readers using this material need to be prudent
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Financial Highlights
17AYH HPM Total % of FS
14 5 19 Revenue in Y2018 (MB) 637.45 325.33 962.78 17.23% Revenue in Q2‐2019 (MB) 339.71 174.01 513.72 16.28% SUPER ENERGY POWER PLANT INFRASTRUCTURE FUND
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17AYH HPM Total SUPEREIF 8,150.00 Fund set‐up Cost 222.00 Net of NRTA (Rights of Revenue) 5,240.15 2,687.85 7,928.00 Asset ‐ plant and equipment 3,786.59 1,845.50 5,632.09 Asset ‐ Rights to electricity 110.09 96.45 206.54 Asset total to SUPEREIF 3,896.68 1,941.95 5,838.63 Net Balance 1,343.47 745.90 2,089.37 Unit : MB Total Net of NRTA (Rights of Revenue (MB)) 7,928.00 Less Loan Repayment (MB) (4,179.22) Less Reinvestment SUPEREIF (MB) (1,030.00) Cash’s Remaining 2,717.19
Cash’s from SUPEREIF Balance Sheet