Analyst Meeting No. 2/2009 - Thai Stanley...2008/05/25 · Analyst Meeting No. 2/2009 THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED The completely integrated manufacturer of world

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


May 25, 2009

The Operation Result 2008

Apichart Leeissaranukul


Agenda

2. The Fiscal Year 2008 Financial Statement

1. Business Report 2008

3. New Product & New Business


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


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


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%


Business Report


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


Business Report


160108

139

198

0

50

100

150

200

250

300

350

400

2008 2009

ExportDomestic


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%


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%


Business Report


366

199

0

50

100

150

200

250

300

350

400

2008 2009

20082009


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%).


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%


Business Report


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%


Business Report


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%


Business Report


428356

0

50

100

150

200

250

300

350

400

450

500

2008 2009

2W Market Sales 2009 - Domestic (January – March)


Business Report

X 1,000 unit

▼16.80%


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%


Business Report


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)


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)


Unit: Million baht


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)


Unit: Person


Business Report


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)


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


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


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


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

%


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


New Product

Rear Combination


New Business


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%


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


For further questions, please contact :

Ms.Rattanaporn Boonwong : Investor RelationsTel : 662-581-5462-3 (10 lines) ext. 164Fax: 662-581-5397E-mail : [email protected]

Contact information for Investor Relations


THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITEDThe completely integrated manufacturer of world class automotive lighting

Documents

Analyst Meeting No. 2/2009 - Thai Stanley...2008/05/25 · Analyst Meeting No. 2/2009 THAI STANLEY ELECTRIC PUBLIC COMPANY LIMITED The completely integrated manufacturer of world