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THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Analyst Meeting No. 2/2009
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITEDThe completely integrated manufacturer of world class automotive lighting
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
May 25, 2009
The Operation Result 2008
Apichart Leeissaranukul
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Agenda
2. The Fiscal Year 2008 Financial Statement
1. Business Report 2008
3. New Product & New Business
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
GDP Growth (2001 – 2008)
2.62.0
-2.5
5.2 4.9
2.1
5.4
7.0 6.3
4.6
-4.0
-2.0
0.0
2.0
4.0
6.0
8.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
%
Source: The Asian Development Bank, as 20 April 2009 and The Bank of Thailand, as 22 April 2009
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
4W Market Sale (Domestic & Export)(2003 – 2008)
533 626 703 683 631 614
235
332
441 539 690 776
0
200
400
600
800
1000
1200
1400
1600
2003 2004 2005 2006 2007 2008
Domestic Export ▲105.33%X 1,000 unit
Source: Thailand Automotive Institute
▲12.69%
1.39 Million Units1.32 Million Units
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
4W Market Sales Q’ty (Domestic & Export)(FY2007-FY2008 by Quarterly)
306,997
347,317345,053
353,344
376,511330,733
358,336
246,545
0
50000
100000
150000
200000
250000
300000
350000
400000
Q-1 Q-2 Q-3 Q-4
FY2007 FY2008
X 1,000 unit1,386,897 units 1,277,939 units Compare with FY2007 ▼7.86%
▼31.19%
Source: Thailand Automotive Institute
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
4W Market Sales Q’ty (Domestic & Export)(FY2007-FY2008 by Monthly)
92,773
107,379
105,399
124,840
108,825
115,098
107,200
116,016
119,799
114,709
118,054
122,619
116,350
116,473
127,502
111,985132,659
102,275
103,93381,539
115,324
78,970
139,079
86,036
0
20000
40000
60000
80000
100000
120000
140000
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
FY2007 FY2008
▼38.14%1,386,897 units 1,277,939 unitsX 1,000 unit
Source: Thailand Automotive Institute
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
160108
139
198
0
50
100
150
200
250
300
350
400
2008 2009
ExportDomestic
Source: Thailand Automotive Institute
4W 2009 3 month Domestic sale result decrease 33% YoYFrom Pick up 41% and Passenger car 20%
4W Market Sale 2009 (January – March)Domestic & Export
Business Report
4W 2009 3 month sale export (CBU) result decrease 30% YoY , From Pick up ( to Australia , Malaysia , Saudi Arabia) and Passenger Car type (to Australia , Saudi Arabia , Oman) .
X 1,000 unit
▼31.019%
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
4W Productions(2003 – 2008)
1,3011,194 1,125
1,391
751 960
0
200
400
600
800
1000
1200
1400
1600
2003 2004 2005 2006 2007 2008
X 1,000 unit▲6.92%
Source: Thailand Automotive Institute
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
366
199
0
50
100
150
200
250
300
350
400
2008 2009
20082009
Source: Thailand Automotive Institute
4W Productions 2009 (January – March)Business Report
X 1,000 unit
▼45.58%
4W 2009 3 month production result decrease 46% YoY , From Pick up (45.85%) and Passenger Car (45.66%).
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
2W Market Sale(2003 – 2008)
1,599
2,0552,1122,0271,767 1,703
0
500
1000
1500
2000
2500
2003 2004 2005 2006 2007 2008
X 1,000 unit
▲106.55%
Source: Thailand Automotive Institute
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
2W Market Sales Q’ty(FY2007-FY2008 by Quarterly)
421,811
444,424
391,585
451,013
358,801
379,717 428,222355,417
0
50000
100000
150000
200000
250000
300000
350000
400000
450000
500000
Q-1 Q-2 Q-3 Q-4
FY2007 FY2008X 1,000 unit 1,600,683 units 1,630,571 units Compare with FY2007 ▲101.86%
▼17%
Source: Thailand Automotive Institute
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
2W Market Sales Q’ty(FY2007-FY2008 by Monthly)
121,568
130,795
147,679
150,126
152,564
163,503
137,932
160,365
136,716
143,118
117,210
147,530
125,975
138,368
129,608
125,323
103,218
116,026
143,208
109,940
140,217
119,477
144,797
126,000
0
20000
40000
60000
80000
100000
120000
140000
160000
180000
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
FY2007 FY2008
X 1,000 unit 1,600,683 units 1,630,571 units Compare with FY2007 ▲101.86%
Source: Thailand Automotive Institute
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
428356
0
50
100
150
200
250
300
350
400
450
500
2008 2009
2W Market Sales 2009 - Domestic (January – March)
Source: Thailand Automotive Institute
Business Report
X 1,000 unit
▼16.80%
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
2W Productions(2003 – 2008)
1,6522,079
2,359
2,8672,378
1,923
0
500
1000
1500
2000
2500
3000
3500
2003 2004 2005 2006 2007 2008
X 1,000 unit
▲16.40%
Source: Thailand Automotive Institute
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
THS Business Result (FY2003 – FY2008)(Sales & Net Profit)
7,8948,330
7,9078,315
6,870
6,053
1,296
1,152
1,067
764867
1,109
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
2003 2004 2005 2006 2007 20080
200
400
600
800
1,000
1,200
1,400Sales Profit
Compare with FY2007Sales ▼5.24% Profit ▼14.46%
Business Report
Operating Income
Unit: Thousand baht
(5.24%)100.0%8,329,879100.0%7,893,738Total
281.21%1.57%130,8386.32%498,769Die & mold plant & RD
(11.22%)92.60%7,713,46186.75%6,847,828Automotive lamp plant
12.68%5.83%485,5806.93%547,141Auto bulb plant
ratioamountratioamount
ChangeFiscal year 2007
(Apr 2007-Mar 2008)Fiscal year 2008
(Apr 2008-Mar 2009)
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Business Report
Capital expenditures
(17.52%)957.27789.52Total
(68.31%)41.0913.02Others
(27.47%)242.44175.83Molds & Tools
(10.82%)669.47597.04Machines & Equipments
(14.99%)4.273.63Buildings
--Land
amountamount
Change
Fiscal year 2007(Apr 2007-Mar 2008)
Fiscal year 2008(Apr 2008-Mar 2009)
Unit: Million baht
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Business Report
Employment
(128)2,5032,375Total
13031Japanese staff
(38)1,0711,033Local employee (female)
(91)1,4021,311Local employee (male)
ChangeFiscal year 2007(Apr 2007-Mar 2008)
Fiscal year 2008(Apr 2008-Mar 2009)
Unit: Person
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Business Report
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Business Report
Award in FY2008
- Quality Award (Kawasaki Thailand: KMT)- CR Award (Thai Yamaha: TYM)
- สถานประกอบการดีเดนดานความปลอดภัย อาชีวอนามัย และสภาพแวดลอม (5 ปตอเนื่อง)- นายจางดีเดน และนายจางดีเดนดานความปลอดภัยในการทํางาน- รับมอบใบรับรองระบบมาตรฐานแรงงานไทย (มรท.8001-2003) ระดับสมบูรณ- สถานประกอบการที่ไมมีการประสบอุบัติเหตุถึงขั้นหยุดงาน (1 ลานช่ัวโมงงาน) (3 ปตอเนื่อง)- สถานประกอบการดีเดนดานแรงงานสัมพันธและดานสวัสดิการแรงงาน (3 ปตอเนื่อง)
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Fiscal year 2008 Financial Statement – Balance Sheet
7,530.33
6,058.60
1,471.73
1,452.71
7,530.33
3,427.25
(0.02)
11.55
(47.67)
(48.25)
(0.02)
(1.66)
7,528.74
6,758.65
770.09
751.75
7,528.74
3,370.19
Total Liabilites and
Shareholders’ Equity
Total Liabilities
Shareholders’ Equity
Current Liabilities
Total Assets
Current Assets
March
31, 2008Change (%)Change (%)Unit : MB
The equity method March
31, 2009
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Fiscal year 2008 Financial Statement – Statement of Income
(17.80)1,711.101,406.50Profit before interest expenses and income tax
1,296.03
84.50
648.73
6,303.15
8,585.20
8,329.80
(14.46)
(24.69)
(6.84)
(0.85)
(4.48)
(5.24)
1,108.63
63.63
604.34
6,249.51
8,200.50
7,893.74
Net profit for the period
Selling and Administrative expensesShare of net profit from investments in associates
Cost of sales
Total Revenues
Sales
Fiscal Year
2008
Fiscal Year
2007Change (%)Change (%)
Unit : MB
The equity method
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Fiscal year 2008 Financial Statement – Cash Flow
1,489.34
0.24
1,148.68
340.42
(371.62)
(1,113.34)
1,825.38
1,529.91
0.87
1,489.34
39.70
(406.04)
(1,348.48)
1,794.22
Effects of Exchange rate changes
Net increase cash / Cash equivalents
Cash / Cash equivalents at beginning of the period
Cash / Cash equivalents at end of the period
Cash payment in Financing
Cash payment in Investing
Cash by Operating Activities
March
31, 2009
March
31, 2008The equity method
Unit : MB
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Q1 - 2007Unit : MB
Sales 2,013.14 100 2,047.46 100 2,036.83 100 2,232.46 100 2,251.40 100 2,202.21 100 2,072.08 100 1,368.05 100
Total Revenues 2,109.68 105 2,108.58 103 2,087.32 103 2,279.62 103 2,323.35 103 2,370.59 108 2,124.93 103 1,381.63 101
Cost of Sales 1,577.84 78 1,519.94 74 1,543.71 76 1,661.66 74 1,710.69 76 1,711.91 78 1,654.75 80 1,172.16 86
Selling & Administrative exp. 148.76 7 153.07 7 163.76 8 183.13 8 154.76 7 153.93 7 155.36 8 140.29 10
Operating Profit 382.37 19 434.85 21 379.12 19 430.26 21 456.97 20 503.76 23 302.42 15 79.72 6
Share of net profit from 20.42 1 20.59 1 28.26 1 15.24 1 23.55 1 19.08 1 13.79 1 7.22 1investment in associates
Profit before interest exp. 402.79 20 455.44 22 407.38 20 445.50 22 480.52 21 522.84 24 316.21 15 86.93 6and income tax
Income Tax 80.44 4 90.97 4 109.07 5 134.46 7 87.75 4 114.17 6 72.01 3 23.94 2
Net Profit 322.27 16 364.41 18 298.31 15 311.03 16 392.77 18 408.67 19 244.20 12 63.00 5
Basic earning per share 4.21 4.76 3.89 4.06 5.13 5.33 3.19 0.82
Q3 - 2007 Q4 - 2007 Q1 - 2008 Q2 - 2008 Q3 - 2008Q2 - 2007%% % % % % %
Fiscal Year 2008 Income Statement – By Quarterly
Q4 - 2008
%
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
Unit : MB
2,013 2,047 2,037
2,232 2,251 2,2022,072
1,368
63
244
409364322 298 311
393
0
500
1,000
1,500
2,000
Q1/2007 Q2/2007 Q3/2007 Q4/2007 Q1/2008 Q2/2008 Q3/2008 Q4/2008 0
100
200
300
400
500
600
700
800
Sales Net Profit
The Fiscal Year 2008 Financial Statement – Analysis by Quarterly
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
New Product
Rear Combination
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
New Business
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
The Fiscal Year 2008 Financial Statement
Market Trend - 2009 (January-March)
Conclusions
- 4W and 2W Sold continued decrease both Domestic and Export from economic slow down.
- Sold decrease 5.24% from Automotive Industrial slow down
- Net profit decrease 14.46%
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
This slides contain statements that constitute forward-looking statements, plans for theFuture, management targets, etc. relating to the Company and its subsidiaries. These forward-looking statements are base on current assumptions of future events and trends , which may be incorrect and are subject to risks and uncertainties.
Actual result may differ materially from those in such forward-looking statements as a result of various factors.
Unless otherwise noted, the financial data contained in these materials are presented under Thai Accounting Standards (TAS). The company disclaims any obligation to update or to announce any revision to forward-looking statements to reflect future events or developments.
Information concerning financial institutions other than the company and its subsidiaries are base on publicly available information.
These materials do not constitute an invitation or solicitation of an offer to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis for any contract or commitment whatsoever.
Disclaimer
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
For further questions, please contact :
Ms.Rattanaporn Boonwong : Investor RelationsTel : 662-581-5462-3 (10 lines) ext. 164Fax: 662-581-5397E-mail : rattanaporn@stanley.co.th
Contact information for Investor Relations
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED
THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITEDThe completely integrated manufacturer of world class automotive lighting
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