AOT Corporate Presentation for Q1 of Fiscal Year 2010 (October 2009 - December 2009)

8/14/2019 AOT Corporate Presentation for Q1 of Fiscal Year 2010 (October 2009 - December 2009)

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Air orts of Thailand Plc.Air orts of Thailand Plc.Corporate Presentation for QCorporate Presentation for Q11 of Fiscal Yearof Fiscal Year 20102010

(October(October 20092009 DecemberDecember 20092009))

Investor Relations Center, E-mail: [email protected], Tel: (662) 535-5900, Fax (662) 535-5909


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Disclaimer

business and financial status.

This presentation may contain forward looking statements relate to analysis and other

yet determinable.

These statements reflect our current views with respect to future events which relate to,

future performance.

Such forward looking statements involve know and unknown risks and uncertainties.

The Actual result may differ materially from information contained in these statements.

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Airports in Thailand

Total of 38 airports

Airports of Thailand Public Company Limited *

CHIANGRAIINTERNATIONAL

AIRPORT

CHIANGMAIINTERNATIONALAIRPORT

Sukhothai Nakhon Phanom

Udon Thani

Loei

LampangPhrae

NanMae Hong Son

Tak

o Suvarnabhumi Airport (BKK)o Don Muang International Airport (DMK)

4 international airports at regional sites

Ubon RatchathaniBuri RamNakhon Ratchasima

Sakon Nakhorn

Roi Et

Khon KaenPhetchabun

Phitsanulok

Mae Soto Chiang Mai International Airport (CNX)

o Hat Yai International Airport (HDY)

o Phuket International Airport (HKT)

o Chiang Rai International Airport (CEI)DON MUANGINTERNATIONAL

Surin

Bangkok Airways Airports

DCA Airports

AOT AirportsU-Tapao

Hua Hin

Trad

Department of Civil Aviation (DCA)o 28 regional airports

Royal Thai Navy Airport

umpon

Samui

Nakhon Si Thammarat

Ranong

Surattani

Royal Thai Navyo U-Tapao Airport

Bangkok Airways CompanyHATYAIINTERNATIONAL

Krabi

Trang PattaniNarathiwat

o Sukhothai Airporto Samui Airport

o Trad Airport

PHUKETINTERNATIONALAIRPORT

AIRPORT

* Note: AOTs traffics account for more than 90% of Thailands air traffics.

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Business Overview

Fact Sheet

Airports of Thailand PLC

Shareholders Information1. Ministry of Finance 70.00%

Shares outstanding 1,428.57 million Shareholders

Ministry Of Finance 70%

. or rus om nees .

3. State Street Bank and Trust Company forAustralia

2.92%

4. Chase Nominees Limited 1 2.72%

Average Daily Market Cap (Oct 09 - Dec 09)BHT 56,605.88 M

5. Nortrust Nominees Limited MelbourneBranch Future

2.01%

6. Thai NVDR Company Limited 1.76%

Year (Baht)1

(The Company)

per share(Baht)

payoutratio

Yield

As of December 23, 2009

. omers . . m e 0.81%

8. Social Security Office 0.64%

v en o cy

Not less than 25% of net profit of the company foreach ear after deduction of all s ecified reserves,

2006 7.26 2.75 37.88 % 4.74%

2007 0.84 0.40 47.61% 0.64%

subject to our investment plans and otherconsiderations that our Board of Directors deemsappropriate

. . . .

2009 0.59 0.42 71.19% 0.99%

Note: 1. EPS usin for calculatin the dividend is from the com an financial statements.

4

2. In FY2006 AOT paid dividend twice:- On 12 Oct 2006 (Baht 0.95 per share)

- On 23 Feb 2007(Baht 1.80 per share)


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Aircraft Movement Statistics

(Unit: Thousand)

AOT Traffics

Domestic (3 airlines)

Major LCCs Airline(Unit: Thousand)390.3 394.1

LCCs Traffics

346.6

175.1 173.4

149.9105.3 104.6

Nok Air

One-Two-Go/Orient

Thai Airlines 86.5

215.2 220.7 196.7

33.443.2

79.0 76.0

57.2

International(12 airlines)

Air Asia81.397.2

26.347.9 54.0

2007 2008 2009 Q1_09 Q1_10

International Domestic

26.3 28.6 29.3

6.5 8.911.2 17.4

2007 2008 2009 Q1_09 Q1_10

a r s a

Tiger Airways

Jetstar Asia

17.7

Q1_FY09 Q1_FY10 YoY%

BKK 9,711 12,802 31.83%

DMK 2,303 4,580 98.87%

_ _ o

BKK 54,889 66,894 21.87%

DMK 8,841 7,911 (10.52%)

Cebu Pacific Air

Air India Express

BKK + DMK 12,014 17,382 44.68%

HKT 2,464 3,882 57.55%

CNX 1,817 2,609 43.59%

, , .

HKT 8,961 10,836 20.92%

CNX 5,736 7,116 24.06%

HDY 1,751 2,798 59.79%

Air Berlin

Condor Flugdienst

Je u Air

HDY 1,064 1,686 58.46%

CEI 386 704 82.38%CEI 1,109 1,669 50.50% Jin Air

5

Note: 1. Fiscal Year starting from October to September2. The percentage growth as shown is calculated from the full number of the air traffic statistics


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Monthly Air Traffic Movements: FY 2007 - 2010Unit: Thousand

36

40

Aircraft Movements 28

32

FY 2008

FY 2009

20

24FY 2010

(Unit: Million)

oc no de ja fe ma ap m

a ju j au se

6

Passenger Movements

5FY 2007

FY 2008

FY 2009

4 FY 2010

7

3

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun Ju

lAu

gSe

p


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Airport Revenues (The consolidated financial statements)

Landing & Parking Charges 20% increased on Jan 1st, 2005

15% increased on Apr 1st, 2007

Passenger Service Charges (PSC) Effective on Feb 1st, 2007

THB 500 to THB 700 - International PSC

THB 50 to THB 100 - Domestic PSC55.57%

Aircraft Service Charges Fees paid by airlines for use of boardingbridges, varies by maximum take off weightof the aircraft and length of time at a gate

ce a e roper y en a en a enan s nc u e a r ne, governmen agenc esand concession tenants. Rents are determined basedon the tenants business use at each of our airports.

Service Varies by activities such as Utilities, Check-in Counter Non-Aeronautical, ,

System Services, etc.

Concession Varies by activities such as Duty Free, Souvenirs,Food & Beverage, Airline Catering, Fueling Services,

.

(End of Q1/FY 2010)

, , , .

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Revenue Breakdown (The consolidated financial statements)

Total Revenue By proportion

(Unit: Million) Q1_FY09 Q1_FY10

23.74%

16.23%

24.31%

.

19,501.41

26,740.1 21,502.3

36.17%

13.41%

13.24%

1.79%

8.66%

1.68%6.87%

.

5,399.95 6,221.63

2007 2008 2009 Q1_09 Q1_10 FY2007 FY2008 FY2009 Q1_09 Q1_10 YoY(%)

LPC 3,937.40 4,216.35 3,114.98 876.68 736.82 (15.95%)

(Unit: Million)

Passenger service charges (PSC)

A/C Service charges (ASC)

Office and state property rents (OPR)

PSC 8,781.48 10,417.01 8,676.54 1,953.13 2,615.97 33.94%

ASC 427.10 431.75 411.06 96.47 104.78 8.61%

OPR 1,524.61 1,861.76 1,698.23 467.38 427.57 (8.52%)

Concession revenue (CCR) 2,818.54 3,389.29 2,901.28 724.31 823.88 13.75%CCR 2,012.28 6,423.98 4,700.31 1,281.98 1,512.61 17.99%

9Note: Fiscal Year starting from October to September


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Expense Breakdown (The consolidated financial statements)

0.23%

Total Cost By proportion

(Unit: Million)Q1_FY09 Q1_ FY10

.

46.30%

14.83%.

13.62%

41.52%

18,004.618,740.4 18,543.2

28.75% 31.25%

5.45%

4.44%

By Growth

4,310.73 7.70%

5.66%

4,825.13

2007 2008 2009 Q1_09 Q1_10

FY2007 FY2008 FY2009 Q1_09 Q1_10 YoY(%)

Management - - - 10.00 12.46 24.60%Personnel 2,927.84 3,909.00 3,266.59 639.40 657.07 2.76%

n : on

Management benefit expenses *

Personnel expenses

Operating expenses

Repairs and maintenance (R&M)

Operating 5,730.13 5,100.31 5,216.67 1,239.39 1,507.64 21.64%

R&M 732.38 683.96 1,214.69 191.37 371.32 94.03%

SPR 846.32 955.73 939.51 234.86 273.15 16.30%

State property rental (SPR)Depreciation and amortization (D&M)

D&M 7,759.50 7,866.89 7,905.80 1,995.71 2,003.49 0.39%

11Note: * The Management benefit expenses are the remuneration of AOTs board of directors and executives as stated in the notice of

Capital Market Supervisory Board


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Income Statements (The consolidated financial statements)

FY08 FY09 YoY% 1Q09 1Q10 YoY%

(Unit: Million Baht)

, . , . . , . , . .

Expenses 18,740.40 18,543.25 (1.05%) 4,310.73 4,825.12 11.93%

Depreciation 7,866.89 7,905.80 0.49% 1,995.71 2,003.49 0.39%

Operating Income 7,999.74 2,959.14 (63.01%) 1,089.22 1,396.51 28.21%

EBITDA 15,866.63 10,864.94 (31.52%) 3,084.93 3,400.00 10.21%

Net Profit(Loss) 7,321.05 717.26 (90.20%) (1,679.30) 798.05 147.52%

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Financial Status (The consolidated financial statements)

30 Sep 2009 31 Dec 2009

BALANCE SHEET

Beginning Cash Flow 3,347.00

(Unit: Million Baht) (Unit: Million Baht)

Cash 3,347.00 2,224.60

Other Current Asset 21 735.87 20 494.03

Cash Flow from Operation 6,893.54

Cash Used in Investment 7,384.92

Non Current Asset 123,937.01 123,424.58

Cash Used in Financing 631.01

Ending Cash Flow 2,224.60

, . , .

Current Liabilities 13,313.85 12,046.35

Total Loan (Million Yen) 199,210.76

LONG-TERM LOANS

, . , .

Other Non Current

Liabilities531.87 544.96

DisbursedAmount 97.21%Repayment Amount

Total Liabilities 75,760.10 72,087.78

Shareholders Equity 73,259.78 74,055.43

(Million Yen), .

Hedged Percentage of theremainin loan

76.96%

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Total Liabilities &Shareholders Equity

149,019.88 146,143.21Average Interest Rate 5.02%


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Financial Ratios (The consolidated financial statements)

31 Dec 200930 Sep 2007 30 Sep 2008 30 Sep 2009

51.83

39.00

.

48.78

62.00

.

53.42

31.00

.

51.28

42.25

.

Market Price (THB)

BV/share

0.56

0.75

0.77

1.27

5.12

0.58

0.50

0.82P/BV

EPS

66.100.78

80.510.796.05

0.9184.50P/E

Gearing 0.86

0.55

1.08

.

0.76

1.57

.

5.00

9.59

.

0.48

0.98

.

ROE (%)

ROA (%)

Note: Gearing = Total Debt / Total EquityNet Gearing = Net Debt / Total EquityTotal Debt = Total Interest Baring Debt

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Noise Compensation (Suvarnabhumi Airport Phase I)

PlannedProceeded

Unit: Million Baht

(The cabinet resolutionon May 29, 2007) Houses Amount

.

Purchased 65 311.66

Insulated 312 79.26

Total ImpactedHouses

Total ImpactedHouses

NEF 30-40 332.33

Insulated 338 84.70

,,

NEF > 40NEF > 40 NEF 30-40NEF 30-40

SensitiveArea

15 247.63(498)(498) (8,966)(8,966)

.

KMITL* 214.00Insulation

(346)Insulation

(346)Insulation

(8,966)Insulation

(8,966)Purchase

(152)Purchase

(152)

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Note: KMITL is King Mongkuts Institute of Technology Ladkrabang


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Future Airport Developments

Suvarnabhumi Investment Cost(billion baht) ExpectedTimeframe Additional Capacity. omes c assenger

Terminal. - -

- 15 contacted gates

2. SuvarnabhumiAirport ExpansionPhase II

73.74 2010 - 2016 - 15 MAP

- 28 contacted gates

- 19 flights/hr.

Investment Cost Expected Additional Capacity(billion baht) Timeframe

1. New InternationalPassenger Terminal

5.79 2009 - 2013 - 6 MAP

2. Renovation of theExisting Terminal

3. Apron

- 4 contacted gates

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.


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Commercial Projects

Phuket International Airport Private Jet Terminal

Suvarnabhumi Airport Community Mall

Central Warehouse

Don Muang International Airport Private Jet Terminal Aircraft Maintenance Center

Hospital Golf Course Office Buildin

Aircraft Simulation Center Spare Parts Warehouse

Landing Gear Maintenance

Exhibition Center Export Exhibition Center

Chiang Mai International Airport Private Jet Terminal

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Appendix A: Airport Capacity vs. Utilization

Aircraft(Flights/Hour)

Passengers(Million/Year)

Cargoes(Million Metric Tons/Year)

AirportCapacity

Actual UtilizationCapacity

Actual UtilizationCapacity

Actual Utilization

2008 2009 2008 2009 2008 2009

BKK 76 54 57 45 38.60 40.50 3.00 1.20 1.05

. . . . . .

HKT 20 16 18 6.5 5.73 5.78 0.036 0.019 0.018

. . . . .

HDY 20 6 8 1.9 1.28 1.39 0.013 0.010 0.012

CEI 12 5 5 1.7 0.68 0.72 0.005 0.002 0.002

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Appendix B: AOT vs. Regional Airports Capacity

Area CapacityRunwaysAircraft

Cargo

rpor s(Metres)

Area

(Acres)

Area

(Sq.m.)(Flights/

Hour)(Million/Year)

(MillionMetric

Tons/Year)

BKK 8,000 563,000 76 45 3.00 2 60 x 3,70060 x 4,000

DMK 1,552 391,316 60 36.5 0.91 2 60 x 3,70045 x 3 500

HKT 47 23,369 20 6.5 0.036 1 45 x 3,000

CNX 86 16,742 24 8 0.035 1 45 x 3,100

HDY 28 14,656 20 1.9 0.013 1 45 x 3,050

CEI 15 16,650 12 1.7 0.005 1 45 x 3,000

Kok

3,101 710,000 54 45 3 .00 2 60 x 3,800

Changi 3,212 1,043,020 n/a 64 2.00 2 60 x 4,000

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Incheon 13,880 496,000 n/a 44 2.00 2 60 x 3,750


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Appendix C: Market Share (By Aircraft) FY2009

Type of Flight Low Cost CarriersTop 10 Airlines

a rwaysInternational

29.29%

Thai AirAsia 14.89%

Thai AirAsia 59.49%

Nok Air 16.36%

AirAsia 7.50%

InternationalScheduled Flight

51.80%

International Non-

Scheduled Fli ht

0.74%

.

AirAsia 1.84%

Cathay Pacific 1.58%

Orient Thai Airlines 5.24%

Tiger Airways 3.88%

One Two Go Airlines 2.54%

Charter 1.34%

DomesticScheduled Flight

37.35%

China Airlines 1.52%

Singapore Airlines 1.07%

JetStar Asia 1.44%CEBU Pacific Air 1.06%

Indonesia AirAsia 0.82%

Domestic Non-Scheduled Flight

5.84%

Others 2.93%

EVA Air 1.02%

Emirates 1.01%

JAL Ways 0.86%

JetStar Airways 0.70%

Firefly 0.62%.

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Appendix D: Market Share (By Passenger) FY2009

Type of Flight Low Cost CarriersTop 10 Airlines

Scheduled Flight

.

International Non-

Scheduled Flight

0.74%

International

.

Thai AirAsia 10.10%

.

Nok Air 15.60%

AirAsia 7.18%

Charter 1.34%

Domestic ScheduledFlight

37.35%

.

Cathay PacificAirways

2.07%

China Airlines 1.60%

Orient ThaiAirlines

4.66%

Tiger Airways 4.49%

Domestic Non-Scheduled Flight 5.84%

Others 2.93%

Emirates 1.53%

Singapore Airlines 1.33%

ne wo o

Airlines

.

JetStar Asia 1.65%

.

EVA Air 0.99%

Korean Air 0.92%

.

CEBU Pacific Air 1.03%

Indonesia AirAsia 0.85%

Air India Express 0.32%

Firefly 0.18%

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Documents

AOT Corporate Presentation for Q1 of Fiscal Year 2010 (October 2009 - December 2009)