WORKPOINT OPPORTUNITY DAY 13 SEPTEMBER 2017 The information - - PowerPoint PPT Presentation

WORKPOINT

OPPORTUNITY DAY

13 SEPTEMBER 2017

The information within this presentation has been derived from the existing factors in the present time. Therefore, the forward-looking information on this presentation may not occur in the future if the aforementioned factors or situations are changed. No representation and warranties whatsoever have been given by Workpoint Entertainment Public Company Limited and its subsidiaries.

2

WORKPOI OINT NT TV TV (“WP TV”)

• Advertising Revenue
• TV Production Revenue : Only TV Programs aired on WORKPOINT TV
• Time Slot Rental Revenue

GLOSS SSARY ARY

OTHER ER TV BUSINE NESS SS

• Advertising Revenue : TV Programs aired on Other TV Channels
• TV Production Revenue : Only TV Programs aired on Other TV Channels
• Revenue from Digital Media (e.g. YouTube, Line, Facebook)
• Revenue from TV Program Licensing

CONCER CERTS TS & PLAYS

• Ticket sale from Plays and Concerts
• Theatre Sponsorship Revenue and Show Sponsorship Revenue
• Area Rental Revenue

EVENT

• Event Sponsorship Revenue
• Event Organizing Revenue

3

Channel Company Abbrv. GMM Channel Co., Ltd. GMM25 Bangkok Business Broadcasting Co., Ltd. NOW26 R.S. Television Co., Ltd. CH.8 BEC-Multimedia Co., Ltd. 3SD Mono Broadcast Co., Ltd. MONO29 MCOT Public Co., Ltd. MCOT GMM One TV Co., Ltd. ONE Triple V Broadcast Co., Ltd. THAIRATH TV BEC-Multimedia Co., Ltd. CH.3 Amarin Television Co., Ltd. AMARIN TV Bangkok Broadcasting & TV. Co., Ltd. CH.7 Bangkok Media & Broadcasting Co., Ltd. PPTV Channel Company Abbrv. Royal Thai Army Radio and Television Station CH.5 The Government Public Relations Department NBT Thai Public Broadcast Service THAI PBS BEC-Multimedia Co., Ltd. 3FAMILY MCOT Public Co., Ltd.

MCOT FAMILY

Thai News Network Co., Ltd. TNN DN Broadcast Co., Ltd. NEW TV Spring News Television Co., Ltd. SPRING NEWS Bright TV Co., Ltd. BRIGHT TV Voice TV Co., Ltd. VOICE TV NBC Next Vision Co., Ltd. NATION TV Thai Broadcasting Co., Ltd. WORKPOINT TV True Four You Station Co., Ltd. TRUE4U

GLOSSARY SSARY

4

Financial Performance

CO COMPAN PANY Y PRO ROFI FILE LE

Number 1 Variety Content Provider in Thailand.

FOUN

UND IN 1989

1989, WOR

ORKP KPOI OINT AS ASPIRES ES TO O BE

LEAD

ADER ER IN ENTERTAIN TAINME MENT NT AN AND MEDIA A INDUS USTRY

6

SH SHAREH REHOLDER OLDER PRO ROPORTI ORTION ON

• Mr. Phanya Nirunkul & Mr. Prapas Cholsaranon, Co-Founders,

hold 52% altogether

Registered Capital : 452.09 m share Paid-up Capital : 417.25 m share Free Float (31/05/16) : 33.75% Foreign : 12.37%

7

Provided TV Programs to all TV Stations.

MORE THA

HAN 25

25 YEAR

ARS, , EXPERIE RIENCE NCE, , CREAT ATIN ING MOR ORE THA HAN 100

100 TV

V PROG OGRAM AMS

Guaranteed by many National and International Awards.

1989 9 - 2015 2015

8

ENTER

ERTAINM TAINMEN ENT T COM OMPAN ANY

Started Diversifying into Related Businesses

2005 5 - PRE RESENT SENT

A TRUE

UE INTEGRATED ATED

9

10

2014 4 - PRE RESENT SENT

PLAY

AYHOU HOUSE E BUS USINESS

10

WORK

RKPO POINT INT TV

FULL L VARIE IETY TV STATION ION

24 HOU

HOURS WITH QUALIT RS WITH QUALITY Y CO CONTENTS ENTS

2014 2014-PRESENT PRESENT

Shifting from TV Production house to TV Station Accounted for 85% of Total Revenue

No TV Programs for other TV Stations since 2016

11

Ad

FIN INANC NCIA IAL L PE PERF RFOR ORMAN MANCE CE

2Q 2017

197.9 486.2 24.6% 43.6%

2Q2016 2Q2017 EBIT %EBIT 133.9 372.8 16.6% 33.5%

2Q2016 2Q2017 NP %NPM

 TOTAL REV.* : INCREASING 38.4%  GROSS PROFIT : INCREASING 68.4% * Excluding other income

Unit : MB

13

Unit : MB Unit : MB Unit : MB

CO CONSOLI SOLIDATED DATED FI FINANCIA CIAL L PER ERFO FORMANC RMANCE E

2Q2017 VS 2Q2016

Unit : MB

 NET PROFIT : INCREASING 178.4%

805.0 1,114.2 2Q2016 2Q2017 395.3 665.8 49.1% 59.8%

2Q2016 2Q2017 GP %GPM

Unit : MB

 EBIT : INCREASING 145.7%

 TOTAL REV.* : INCREASING 41.7% * Excluding other income

Unit : MB

14

Unit : MB Unit : MB Unit : MB

CO CONSOLI SOLIDATED DATED FI FINANCIA CIAL L PER ERFO FORMANC RMANCE E

6M2017 VS 6M2016

 NET PROFIT : INCREASING 235.9%

1,355.3 1,920.2 6M2016 6M2017 634.5 1,079.0 46.8% 56.2%

• 200.0

6M2016 6M2017 GP %GPM

 GROSS PROFIT : INCREASING 70.0%

265.5 747.4 19.6% 38.9%

• 3.0%

• 100.0

6M2016 6M2017 EBIT %EBIT 162.6 546.2 12.0% 28.4%

• 100.0

6M2016 6M2017 NP %NPM

 EBIT : INCREASING 181.5%

CO CONSOLI SOLIDATED DATED FI FINANCIA CIAL L PER ERFO FORMANC RMANCE E

Unit : MB

15

2Q 2016 2Q 2017 % change 6M 2016 6M 2017 % change Total Rev. 805.0 1,114.2 38.4% 1,355.3 1,920.2 41.7% Costs (409.7) (448.4) 9.4% (720.8) (841.2) 16.7% Gross Profit 395.2 665.8 68.4% 634.5 1,079.0 70.0% Other Rev. 6.8 25.7 275.6% 27.3 32.2 17.9% Selling (68.0) (67.9) 0.0% (128.8) (124.8)

• 3.1%

Admin (135.6) (131.9)

• 2.8%

(265.0) (235.3)

• 11.2%

EBIT 198.5 491.7 147.7% 268.0 751.0 180.3% Interest (30.3) (22.9)

• 24.3%

(62.1) (48.5)

• 21.9%

Profit/Loss from JV (0.6) (5.4) 837.1% (2.5) (3.7) 46.0% Tax (34.2) (89.4) 161.3% (40.5) (150.3) 271.0% Minor (0.5) 1.2

• 345.1%

0.2 2.4 1047.4% Net Profit 133.9 372.8 178.4% 162.6 546.2 235.9% 2nd Quarter 6 Months

CO CONSOLI SOLIDATED DATED RE REVE VENUE UE ST STRU RUCT CTURE URE

 2Q 2016 : TOTAL REV. 805.0 MB  2Q 2017 : TOTAL REV. 1,114.2 MB 16 * Excluding other income

91.4% 3.5% 4.7% 0.4% TV Business Concert Event Other 91.8% 2.7% 5.2% 0.3% TV Business Concert Event Other

2Q2017 VS 2Q2016

CO CONSOLI SOLIDATED DATED RE REVE VENUE UE ST STRU RUCT CTURE URE

 6M 2016 : TOTAL REV. 1,355.3 MB  6M 2017 : TOTAL REV. 1,920.2 MB 17 * Excluding other income

91.0% 3.7% 4.9% 0.4% TV Business Concert Event Other 91.7% 3.5% 4.4% 0.4% TV Business Concert Event Other

6M2017 VS 6M2016

1,233.7 49.5 66.1 6.0 1,355.3 1,761.2 67.2 83.9 7.8 1,920.2

• 500.0

TV Business Concert Event Other Total 6M 2016 6M 2017 735.9 28.0 37.5 3.6 805.0 1,022.8 30.2 58.1 3.1 1,114.2

• 200.0

TV Business Concert Event Other Total 2Q 2016 2Q 2017 % Revenue Growth 39.0% 7.8% 55.0%

• 12.4%

38.4%

CO CONSOLI SOLIDATED DATED RE REVE VENUE UE ST STRU RUCT CTURE URE

18  2nd QUARTER  6 MONTHS

% Revenue Growth 42.8% 35.8% 27.0% 30.8% 41.7%

Unit : MB

* Excluding other income

* *

Ad

TV V BUS USINESS ESS

TV V BUS USINESS ESS

Unit : MB

%Growth 33.3%

• 100.0%

426.3% 130.3% 39.0%

20  2nd QUARTER  6 MONTHS

%Growth 37.6%

• 100.0%

360.6% 90.5% 42.8% 703.0 14.3 14.5 4.0 735.9 937.2

• 76.2

9.3 1,022.8 Workpoint TV Free TV Online Licensing Total 2Q2016 2Q2017 1,187.7 14.3 24.7 6.9 1,233.7 1,634.0

• 113.9

13.2 1,761.2 Workpoint TV Free TV Online Licensing Total 6M2016 6M2017

Ad

TV TV BUS USIN INES ESS S : : WO WORK RKPO POIN INT T TV TV

GENRE : General Entertainment/ Variety KEY CONCEPT : Knowledge, Wit, Fun, Entertainment TARGET AUDIENCE : all Ages and Genders

TV V BUS USINESS SS : WO : WORK RKPOI OINT NT TV

22 22

TV V BUS USINESS ESS : WO : WORK RKPOI OINT NT TV

Source : AGB NEILSEN , as of July 2017

Capture All Ages and Genders Matching with Thailand’s Average Audience Profile

23

24.2% 44.2% 12.3% 1.6% 7.7% 7.9% 1.6% 0.8% News Content Variety Show Content Game Show Content

• Inter. Content

Thai & Inter. Drama Content Big Format Content Sitcom Content Cartoons Content Branded TV Content

57.9% 16.2% 9.0% 16.9% 37.1% 36.6% 10.1% 2.4% 7.0% 3.0% 2.4% 1.2%

TV V BUS USINESS SS : WO : WORK RKPOI OINT NT TV

WORKPOINT TV

Source : Workpoint TV as of July 2017 (18 Hrs.)

More than 60% are Light Entertainment Contents

1st Run 65.0% Re-Run 35.0% 24

0.25 0.24 0.30 0.34 0.40 0.45 0.48 0.51 0.50 0.73 0.74 0.75 0.78 0.83 0.85 0.88 0.98 0.97 1.08 0.96 0.80 0.90 1.15 1.14 1.19 1.42 1.16 1.19 1.12 1.23 1.47 0.52 1.00 1.21 1.33 1.47 1.49 1.55 1.51 1.44 1.49 1.46 1.31

0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80

2016 2016 2014 2014 2015 2015 2017 2017

Source : AGB NEILSEN : TV Rating All Target 15+

25

TV V BUS USIN INESS SS : WO : WORK RKPOI OINT NT TV

AGB Nielsen Rating 15+ (Avg.18 hours) Nationwide

World Cup ASEAN Games SEA Games King Rama 9 pass away SEA Games

4.83 4.52 4.01 3.40 4.03 4.73 4.14 4.03 3.71 4.52 4.22 8.47 7.40 6.24 5.38 4.60 4.27 4.35 3.99 4.07 3.59 3.82 0.65 1.78 2.59 4.51 4.74 5.24 4.64 4.43 4.85 4.71 4.35

0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00

2014 2015 2016 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17 Ch.7 Ch.3 WORKPOINT TV

4.03 3.50 2.96 2.57 2.84 2.95 2.80 2.69 2.44 2.79 2.81 3.22 2.63 2.04 2.03 1.88 1.83 1.88 1.78 1.82 1.70 1.72 0.39 0.86 1.09 1.47 1.49 1.55 1.51 1.44 1.49 1.46 1.31

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50

2014 2015 2016 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17 Ch.7 Ch.3 WORKPOINT TV

0.65 1.78 2.59 4.51 4.74 5.24 4.64 4.43 4.85 4.71 4.35

0.00 1.00 2.00 3.00 4.00 5.00 6.00 2014 2015 2016 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17

0.39 0.86 1.09 1.47 1.49 1.55 1.51 1.44 1.49 1.46 1.31

0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2014 2015 2016 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17

Source : AGB NEILSEN

Period 06.00 PM – 10.00 PM (Primetime)

TARGET: BKK 15+

Period 06.00 AM – 00.00 AM (18Hrs.)

TARGET: NATIONWIDE 15+

TV V BUS USIN INESS SS : WO : WORK RKPOI OINT NT TV

26

15+ Nationwide, 18 hrs. 15+ Bangkok, 18 hrs. 15+ Urban, 18 hrs. 15+ Rural, 18 hrs.

Rank Channel Rating Rank Channel Rating Rank Channel Rating Rank Channel Rating

1 2.74 1 3.05 1 2.82 1 2.75 2 1.83 2 2.55 2 2.81 2 1.22 3 1.47 3 2.01 3 1.80 3 1.19 4 0.91 4 1.15 4 0.96 4 0.83 5 0.76 5 0.82 5 0.80 5 0.75 6 0.69 6 0.72 6 0.69 6 0.66 7 0.38 7 0.55 7 0.44 7 0.34 8 0.37 8 0.45 8 0.43 8 0.33 9 0.25 9 0.45 9 0.41 9 0.32 10 0.24 10 0.34 10 0.37 10 0.24 11 0.21 11 0.29 11 0.27 11 0.19 12 0.20 12 0.27 12 0.24 12 0.19 13 0.16 13 0.23 13 0.22 13 0.18

TV V BUS USIN INESS ESS : WO : WORK RKPOI OINT NT TV

AGB Nielsen Rating, 15+, January-August 2017, 18 hours (06:00-24.00)

15+ Nationwide, Primetime 15+ Bangkok, Primetime 15+ Urban, Primetime 15+ Rural, Primetime

Rank Channel Rating Rank Channel Rating Rank Channel Rating Rank Channel Rating

1 5.18 1 4.68 1 4.23 1 5.77 2 3.47 2 4.25 2 4.19 2 3.06 3 3.03 3 4.10 3 3.82 3 2.32 4 1.56 4 1.62 4 1.36 4 1.63 5 1.50 5 1.55 5 1.35 5 1.56 6 1.33 6 1.20 6 1.08 6 1.52 7 0.88 7 0.79 7 0.97 7 0.77 8 0.74 8 0.75 8 0.79 8 0.72 9 0.67 9 0.65 9 0.58 9 0.70 10 0.49 10 0.60 10 0.49 10 0.55 11 0.37 11 0.42 11 0.44 11 0.36 12 0.37 12 0.41 12 0.37 12 0.33 13 0.34 13 0.35 13 0.36 13 0.32

TV V BUS USINESS ESS : WO : WORK RKPOI OINT NT TV

AGB Nielsen Rating, 15+, January-August 2017, Primetime (18:00-22.30)

Source : AGB NEILSEN : TV Rating All Target 15+ (18 Hrs.)

Digital TV Audience Share

TV V BUS USIN INESS ESS : WO : WORK RKPOI OINT NT TV

29

67.1% 61.5% 4.6% 5.5% 28.3% 33.0% 2Q2016 2Q2017 Analog TV Cable/Satellite Digital TV

TV V ADE DEX

Unit : MB Source : AGB Nielsen Media Research

30

13,495 921 5,688 20,104 10,684 952 5,723 17,359 Analog TV Cable/Satellite Digital TV Total 2Q2016 2Q2017

 2nd Quarter  6 Months

26,027 1,937 10,766 38,730 22,047 1,820 11,158 35,025 Analog TV Cable/Satellite Digital TV Total 6M 2016 6M 2017 67.2% 62.9% 5.0% 5.2% 27.8% 31.9% 6M 2016 6M 2017 Analog TV Cable/Satellite Digital TV

% Growth

• 20.8%

3.4% 0.6%

• 13.7%

% Growth

• 15.3%
• 6.0%

3.6%

• 9.6%

Unit : MB

 WORKPOINT TV: GROSS PROFIT (GP)

% Growth 33.3% 10.9% 54.0%

TV V BUS USIN INESS ESS : WO : WORK RKPOI OINT NT TV

2Q2016 2Q2017

% GPM 51.9% % GPM 60.0%

Unit : MB

31

• 2Q 2016
• 2Q 2017

2Q2017 VS 2Q2016

703.0 337.9 365.2 Rev. Cost GP 937.2 374.8 562.4 Rev. Cost GP

 WORKPOINT TV: GROSS PROFIT (GP)

% Growth 37.6% 17.3% 59.2%

TV V BUS USIN INESS ESS : WO : WORK RKPOI OINT NT TV

6M2016 6M2017

% GPM 48.3% % GPM 56.0%

Unit : MB

32

• 6M 2016
• 6M 2017

6M2017 VS 6M2016

1,187.7 613.6 574.1 Rev. Cost GP 1,634.0 719.9 914.2 Rev. Cost GP

33 33

33 33

New Program in 4Q2017

34

TV V BUS USINESS ESS : WO : WORK RKPOI OINT NT TV

34

MAJOR OR TV PR V PROGRAMS RAMS TRA RANSIT SITION ON

* Tailor-made program

35

NEW EW TV SC V SCHE HEDU DULED LED @ SU SUPER ER PRI RIMET ETIME ME

Start 1 September 2017 onward

36

Mon Tue Wed Thu Fri Sat Sun

6 PM 10 PM

TV TV BUS USIN INES ESS S : : ON ONLI LINE NE

TV V BUS USINESS ESS : O : ONLINE NE

% Revenue Growth 284.8% 426.3%

* ส่วนแบ่งรายได้จาก Youtube ** รายได้รับจ้างอัพโหลดคลิปและ Live ให้แก่ Facebook, รายได้จากการขายโฆษณาและโปรโมทสินค้าบน Facebook และ Social Media อื่นของ Workpoint รวมถึงโฆษณาช่วงพักเบรกช่วง Live Video

Unit : MB

38  2nd Quarter  6 Months

% Revenue Growth 253.0% 360.6% 14.5

• 14.5

55.7 20.5 76.2 Youtube* Other** Total 2Q2016 2Q2017 24.7

• 24.7

87.3 26.6 113.9 Youtube* Other** Total 6M2016 6M2017

39 39 39

39 39

40

40 40

40 40

Source : Socialblade Updated 28/08/2017

TV V BUS USINESS ESS : O : ONLINE NE

41

Workpoint YouTube has more than 9 Million Subscribers and more than 6,000 Million Video View

42

42 42 42

43

43 43

44 44

44 44

44 44

45 45 45 45

46

Updated 28/08/2017 11,128,709 Follows

10,345,703 Likes

9,175,415 Follows

9,163,069 Likes

5,033,638 Follows

4,973,222 Likes

3,967,577 Follows

3,919,146 Likes

2,726,818 Follows

2,760,818 Likes

3,427,374 Follows

3,302,487 Likes

3,132,216 Follows

2,890,992 Likes

2,291,719 Follows

2,276,843 Likes

1,791,294 Follows

1,821,350 Likes

1,333,822 Follows

1,353,822 Likes

1,832,583 Follows

1,760,767 Likes

1,474,346 Follows

1,424,055 Likes

46

TV V BUS USIN INESS ESS : ON : ONLIN INE

Workpoint Facebook has more than 10 Million Follows & Likes

47

47 47 47

48

49

CON ONCER ERTS TS & & PL PLAYS YS BUS USIN INES ESS

 CONCERTS & PLAYS GROSS PROFIT (GP)

% Growth 7.8%

• 15.9%
• 3893.7%

% GPM

• 0.6%

% GPM 21.5%

CO CONCERT CERTS S & P & PLAYS YS BUS USINES ESS

Unit : MB

51

28.0 28.2 (0.2) Rev Cost GP

• 2Q 2016
• 2Q 2017

30.2 23.7 6.5 Rev Cost GP

2Q2017 VS 2Q2016

 CONCERTS & PLAYS GROSS PROFIT (GP)

% Growth 35.8% 18.2% 111.1% % GPM 18.9% % GPM 29.4%

CO CONCERT CERTS S & P & PLAYS YS BUS USINES ESS

Unit : MB

52

• 6M 2016
• 6M 2017

49.5 40.1 9.4 Rev Cost GP 67.2 47.5 19.8 Rev Cost GP

6M2017 VS 6M2016

53

53

53

54

54 54

54

CO CONCERT CERTS S & P & PLAYS YS BUS USINES ESS

3Q 2017 4Q 2017 4Q 2017

18 AUG 2017 9-19 NOV 2017 DEC 2017

1 ROUND 8 ROUNDs 2 ROUNDs 55

EV EVEN ENT BUS USIN INES ESS

 2nd QUARTER

EV EVEN ENT T BUS USINESS ESS

57  6 MONTHS

37.5 58.1 5.6 13.4 2Q2016 2Q2017

REV GP Unit: MB

%Revenue Growth 55.0% %GPM 14.8% 23.1% 66.1 83.9 11.5 18.1 6M2016 6M2017 %Revenue Growth 27.0% %GPM 17.3% 21.6%

 EVENT IN 6M’17

EV EVEN ENT T BUS USINESS ESS

58

Eminent

Dealer Party

3Q 2017 3Q-4Q 2017 4Q 2017 2Q-3Q 2017 1Q-3Q 2017 2Q-3Q 2017 2Q-3Q 2017 4Q 2017

SEL ELLI LING & & ADMIN INIS ISTR TRATIV ATIVE E EX EXPE PENSES ES

 TOTAL SELLING EXPENSES

6M 2016 6M 2017

%Growth

• 3.1%

SEL ELLI LING NG & A & ADM DMIN INISTRAT ISTRATIV IVE E EX EXPEN ENSES SES

Unit : MB

60

128.8 124.8

Selling Expense

%Growth

• 11.2%

 TOTAL ADMINISTRATIVE EXPENSES

265.0 235.3

Administrative Expense

3,642.6 3,622.2 1,779.8 2,479.0

• 1,000.0

2016 6M2017 Non Current Assets Current Assets 6,101.2 5,422.4

TOTAL TAL ASS SSET ETS S & L & LIA IABIL ILIT ITIES IES

Unit : MB

 TOTAL ASSETS

%Growth Total Assets 12.5% Current Assets 39.3% Non Current Assets -0.6%

61

1,479.3 1,254.3 956.6 1,279.4 2016 6M2017 Non Current Liabilities Current Liabilities 2,533.7 2,435.9

 TOTAL LIABILITIES

%Growth Total Liabilities 4.0% Current Liabilities 33.7% Non Current Liabilities -15.2%

FI FINANC ANCIAL IAL RA RATIO IO

 GROSS PROFIT MARGIN  ROE (RETURN ON EQUITY)*  NET PROFIT MARGIN

%GPM 46.8% 56.2% %NPM 12.0% 28.4%

Unit : MB

62  EBIT MARGIN

%EBIT 19.6% 38.9% * Trailing 12 months 162.6 546.2

6M2016 6M2017 NP 265.5 747.4

6M2016 6M2017 EBIT 6.7% 15.3%

2016 6M2017 634.5 1079.0

6M2016 6M2017 GP

 AP DAYS (DAYS)  AR DAYS (DAYS)  D/E RATIO (TIMES)  INT. BORROWING DEBT/EQUITY (TIMES)

FI FINANC ANCIAL IAL ST STATUS US

63

0.8 0.7

2016 6M 2017 0.3 0.3 2016 6M 2017 63.0 84.4

• 10.00

2016 6M 2017 80.7 88.2

2016 6M 2017

Q& Q&A

TH THANK NK YO YOU