Analyst Meeting 1/2019 - listed...

Analyst Meeting 1/2019TTW Public Company Limited

Agenda

Company Overview

Operating and Financial Performance

2To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

Company Overview – Current Project

3To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

Developer TTW PTW TTWProject Tap water Supply Tap water Supply Tap Water & Waste Water Management

Contract Type BOO BOT Rights (Operating Lease)Contract Period 2004 – 2034 (30 yrs.) 1998 – 2023 (25 yrs.) 2009 – 2039 (30 yrs.)Business Model Whole sale to PWA Whole sale to PWA Retailers

Investment Scheme Production, Transmission and Distribution Production and Transmission N/ADistribution Area West Bangkok North Bangkok BIE

Max. Capacity *540,000 m3/day 488,000 m3/day TW: 48,000 m3/day, WW: 18,000 m3/day

Pathum Thani Water Treatment Plant Bangpa-in Industrial EstateBanglen Water Treatment Plant

*Max. Cap. 440,000 m3/Day

Krathumban Water Treatment Plant

*Max. Cap. 100,000 m3/Day

45

39

16

Samut Sakhon – Nakhon Pathom (%)

Industry Household Commercial

Company Overview – Portion of Water Users

4To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

22

61

18

Pathum Thani - Rangsit (%)

Industry Household Commercial

Top Users / Portion of Water Users : As of Dec 2018

Serving over500,000 Water Users

or Millions of Lives

• Thai Union Group• Pataya Food Industries• Pakfood• Unicord• Better Foods

etc.

• Nadee Municipality (Waterworks)• Mahidol University• Samut Sakhon Hospital• etc.

• Klongluang Utilities• Greensport• Thainamthip Manufacturing• Elec & Eltek (Thailand)• NEO Factory • etc.

• Future Park Rangsit• Rangsit University• Asian Institute of Technology• NSTDA• Bangkok University

etc.

• Lumpini Township Condominium Rangsit-Klong 1

• Plum Condo Paholyothin 89etc.

Agenda

Company Overview

Operating and Financial Performance

5To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

Operating & Financial Performance – Portion of Revenue

6To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

60

30

55

TTW Group (%)

TTWPTWBIEOthers

Operating & Financial Performance

TTW Sale Volume Location TTW

Period 2018 2017

Utilization (%) 80 74

TTW Sale Volume on 2018 vs 2017 increased by 8.5% TTW Sale Volume on Q4’2018 vs Q4’2017 increased by 6.3%

7To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

Year

136 139 138 138 146158

0

40

80

120

160

2013 2014 2015 2016 2017 2018

mil.cu.m.

8.5%+

Year

34 34 33 3338

0

40mil.cu.m.

6.3%+20

40

Operating & Financial PerformancePTW Sale Volume Location PTW %

ChangePeriod 2018 2017

Utilization (%) 82 76 +7.9

PTW Sale Volume on 2018 vs 2017 increased by 7.5% PTW Sale Volume on Q4’2018 vs Q4’2017 increased by 6.3%

8To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

+

Year

137 134 133 131 136146

0

40

80

120

160

2013 2014 2015 2016 2017 2018

mil.cu.m.

7.5%

Year

35 33 33 32 35 37

0

40mil.cu.m.

6.3%+20

Operating & Financial Performance

BIE Sale Volume Location BIE % ChangePeriod 2018 2017

Utilization (%) 49 48 +2

BIE Sale Volume 2018 vs 2017 increased by 2.9% BIE Sale Volume on Q4’2018 vs Q4’2017 increased by 2%

9To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

2.9%+

Year

6.907.73 7.73 7.67

8.27 8.51

0

2

4

6

8

10

2013 2014 2015 2016 2017 2018

mil.cu.m.

Year

0

0.5

1

1.5

2mil.cu.m.

2%+1.94 1.97 2.00 1.99 2.14 2.19

Operating & Financial PerformanceFinancial Performance

10

5,622 5,574 5,499 5,747 5,949

2,974 2,697 2,492 2,6632,842

2014 2015 2016 2017 2018

Total Revenue Net ProfitUnit : Mil.Bt

To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

1,501 1,484

674 678

Q4'2018 Q4'2017

Total Revenue Q4’2018 vs Q4’2017 increased by 1.1%

Net Profit Q4’2018 vs Q4’2017 decreased by 0.6%

Q4’2018

Total Revenue 2018 vs 2017 increased by 3.5% Net Profit 2018 vs 2017 increased by 6.7% The Net Profit for the year increased by 178.7 MB mainly due to increase in sale volumes,

profit sharing from investment in associated company, and decrease in the finance cost.

2018 vs 2017

Operating & Financial PerformanceHistorical Dividend Payment & Payout Ratio

11

(Bt./share)

0.65

0.69

0.62

0.60

0.680.67

0.60

0.65

0.60 0.60 0.60 0.60

2013 2014 2015 2016 2017 2018

EPS DPS

To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

Dividend Yield 4.88%(@12.30 baht per share / as of Sep 14, 2018)

Dividend policy : dividend payment not less than 50% of net profit. (after deduction of all reserves required by law and regulations)

Year

Particular 2016 2017 2018Net profit

- Amount (MB.) 2,391 2,699 2,667

- EPS (Bt./share) 0.60 0.68 0.67DPS (Bt./share)

- Dividend#1 (Interim) 0.30 0.30 0.30

- Dividend#2 0.30 0.30 0.30Total DPS 0.60 0.60 0.60Dividend amount (MB.) 2,394 2,394 2,394Dividend / Net profit 100.0% 88.7% 89.8%

Operating & Financial Performance

Financial Ratios

12To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

23.8%26.6%

23.6%21.6 22.6% 23.1%

10.5% 12.1% 10.5% 9.5%

11.5% 12.3%

2013 2014 2015 2016 2017 2018

ROE ROA

1.23 1.161.33

1.23 0.96

0.89

2013 2014 2015 2016 2017 2018

Debt to Equity

NPM47.8%

CFO3,844.1 Mil.B.

EPS (B./Share)

0.67P/E (Times)

17.39P/BV (Times)

4.24As of 31 Dec 2018

EBITDA4,894.7 Mil.B.

23,330

10,966

12,365

Assets

Liabilities*

Equities

*The total liabilities decreased by 433.6 MB mainly due to loan repayment.

Q & A

Download the Full Presentation

Address : 30/130 Moo 12, Buddha Monthon 5 Rd, Rai Khing, Sam Pran, Nakhon Pathom, Thailand 73210

Tel : +66 2019 9490 – 3 , +662019 9484 – 9 Ext : 1108, 1110 Fax : +66 2420 6064Web Site : www.ttwplc.com

E-mail : ir@ttwplc.com

บริษัท ทีทีดับบลิว จ ำกัด (มหำชน)TTW Public Company Limited

To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

20