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Energy for us all, Energy for the FUTURE
Energy Absolute
E@ at Glance
Credit Rating
Corporate rating : A
CG Rating
Excellent
Market Capitalization (as of 21.01.21)
Approximately THB 236.855 bil. (US$ 7.90 bil.)Somphote
Ahunai (CEO), 43.61%
Domestic Fund, 11.35%
Foreign Juristic, 18.90%
Others, 26.15%
As at 20 March 2020
Shareholder Structure
Total Board Members = 11
Independent
Directors = 6 (55%)
Executive
Directors = 2 (18%)
Other
Non - Executive = 3 (27%)
A
2
Q3
/20
20
9M
/20
20
Net ProfitTotal Revenue
THB 3,801 mil.
decrease 7.69% YOY
THB 2,194 mil.
decrease 19% YOY
THB 12,738 mil.
increase 17% YOY
THB 6,912 mil.
decrease 2% YOY
EBITDA
THB 1,119 mil.
decrease 33% YOY
THB 3,720 mil.
decrease 14% YOY
Highlight of Operating Performance
3
Renewable
Power
Energy
Storage
Electric
Vehicle
Palm Oil
Based
Charging
Network
(1) COD •Solar 278 MW•Wind 386 MW
(2) New Projects
(1) Amita Taiwan 400 MWh
(2) Amita Thailand 1 GWh (by 2020)
(1) MPV car : Mine(2) Ferry (3) Bus & Truck(4) Other Related
(1) B100 & Glycerin(2) Bio-PCM &
Green Diesel(3) Other Related
(1) Station(2) Equipment(3) Online App
4
Our Performance
921 982 1,860 1,504 1,278
2,696
4,642 3,118 3,047 2,766
2,611 2,419
7,923
7,796
64 55 106
13 77
180
196
4,118 4,109 4,761
4,175 3,801
10,842
12,737
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Q3/2019 Q4/2019 Q1/2020 Q2/2020 Q3/2020 9M19 9M20
Mil.bt.
Other revenue
Other Businesses
Power
BiodieselGlycerin
Total Revenue of 3Q/2020Revenue for Q3/2020 period decreased from Wind Power
Total Revenue decreased 7% YoY
Biodiesel25%
Power73%
Others2%
Biodiesel37%
Power61%
Others2%
9M/2020
• Amount of revenue contributed from power business dropped
YoY because weak wind speed
• Stronger demand of B100 as required to use
B10 caused the revenue from biodiesel increased 39% YoY
9M/2019
6
Renewable Power Production664 MWEA Solar Lampang
(90 MW)
EA Solar Nakornsawan(90 MW)
EA Solar Phitsanulok(90 MW)
EA Wind Hadkanghun(126 MW)
(Songkla & Nakornsri tammarat)
EA Wind Hanuman(260 MW)
(Chaiyaphum)EA Solar Lopburi(8 MW)
Output Production
140 162 155 175 149
465 479277 219 198 146 157
542 501
417 381 353 321 306
980
0
200
400
600
800
1000
Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 9M19 9M20
Mil. kWh
Solar
Wind
7
Gross Profit of 3Q2020
Gross Profit Margin Q3/19 Q3/20
Biodiesel Business -5% 11%
• Higher demand of CPO from the government measurement announcing B10 to be used as regular diesel
Power BusinessSolarWind
80%76%
80%55%
• Solar farms had received good sun irradiation and produced more electricity.• Due to the 3nd quarter had low wind speed, so the wind farms showed weaker
performance than the same previous year.
Total GPM 56% 46%2,503 2,436 1,861 1,687
6,167 5,623
(43)
67 89
140
(15)
320
(95) (126) (65) (97) (230) (235)
2,365 2,377 1,885 1,730
5,922 5,708
(1,000)
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Mil.bt.
Power BU.
Biodiesel BU.
Others BU.
Q3/19 Q4/19 Q2/20 Q3/20 9M19 9M20
Note: Total Revenue and Net Profit are excluded Accounting Gain, Other Income, Gain/Loss from exchange rate.
8
Financial Cost and Payment Profile
Total Interest Bearing Debt
Current portion of
Debentures & ST-Debt
26%
Debentures28%
LT-Debt46% 43,049
Mil.Bt.4,000
1,500 1,500 3,000
4,000
2,272
5,215
3,506
3,355
2,660
2,074
1,386
6,272 6,715
3,506
4,855
2,660
5,074
1,386
-
4,000
-
3,000
6,000
9,000
2021 2022 2023 2024 2025 2026 2027 2028 2029
Mil.Bt.Bond LT-Loan
Interest Rate
Short Term Debt: 1.50 – 4.53%
P/N: 1.41 – 3.50%
Long Term Debt: 3 – 3.8%
Bond: 2.37 – 3.61%
D/E 1.81
Net D/E 1.41
On 16th October 2019, EA issued THB 3 billion 7-year bond to ADB with 2.744% interest and was certified by CBI to be green bond.
On 10th July 2020, EA issued bond worth THB 2.2 billion - Tranche 1 : 2-year bond worth THB 500 million with 2.62% interest - Tranche 2 : 3-year bond worth THB 1,000 million with 2.94% interest- Tranche 3 : 5-year bond worth THB 700 million with 3.30% interest
9
BIO Business volume increase 14% with 9% GPM
10
Selling price (Baht/litre)
Biod
iese
l
Volume (Mil.litres)
Glyc
erin
e
20.17
17.69
28.96
15
20
25
30
2018 2019 2020E 2021B
158
193 188
050
100150200250
2018 2019 2020E 2021B
24.99
15.98 16.64
010203040
2018 2019 2020E 2021B
12 14 16
050
100150200250
2018 2019 2020E 2021B
Selling price (Baht/kg) Volume (Mil.Kgs)
Power Production Output
11
Solar 8 MW with 8 Baht/unit adder
Mil.Kwh
13.48 14.12 14.26 13.67
0
5
10
15
20
2018 2019 2020E P50
Solar 270 MW with 6.50 Baht/unit adder
588.27 613.13 624.34
592.89
0200400600800
2018 2019 2020E P50
Wind 260 MW with 3.50 Baht/unit adderWind 126 MW with 3.50 Baht/unit adder
468.84
502.06 490.83
0200400600800
2019 2020E P75
289.32 292.88
258.60 250.80
0100200300400500
2018 2019 2020E P75
Mil.Kwh
Mil.KwhMil.Kwh
Our Energy storage business
Energy Storage System : Core Technology for New Businesses
1 GWh
Phase I Final Target
50 GWh
EV Charging Station
Electric
Vehicle (EV)
Energy TradingSystem
Energy Storage System
(ESS)
Electric
Ferry (E-Ferry)
Electric
Bus (E-Bus)
13
Progress of battery factory project
Building
Installing &
Commissioning
Testing
COD
By 1Q 2021
100%
Early 2021
14
Process Flow Description
FORMATION 1 & 2 / DEGAS
W/H
CAPACITY CHECK
VOLATGE CHECK
CAPACITY RANKING
APPEARANCE INSPECTION
GRADE C
CAPACITY REWORKNG
NG
Electrode Manufacturing Cell Assembly Formation
Batch
pro
du
ction
Co
ntin
uo
us p
rod
uctio
n
MIXING
COATING
PRESSING
DRYING
CUTTING
W/H
STACKING
WELDING
SEALING
INJECTION
Mixing and
chemical
process
adjustment
Electrolyte and Lithium
transport method
adjustment
* Capacity in Phase I (1Gwh)
can reserve to 2-4Gwh
15
Our Electric Vehicle business
Our Product Development
2018 2019 2020
EV Car : MINE Mobility E-Ferry E-Bus
Battery Size: 30kwh
Capacity: ~ 5,000 Units/Year
Target : Commercial market
Business: Production & Sale
Battery Size: 800kwh
Volume: 27 Units
Fare Price: 20-25 Baht.Business: Transportation Service
Full Service: Q2 2021
Battery Size: 250-350kwh
Capacity : ~3,000 Units/Year
Size : 6-12 meters
Business: Production & Sale
Launch: Q1 2021
Next
ESS
To be used in power
system and charging
station.
18
EA's Electric Vehicle Business Structure
NEX
Capital 1,674.45 M.THBRent +Domestic&Overseas sale+
After sale service+Autopart+Service
for all buses
Absolute AssemblyProduce, assemble all buses
and vans and sell to distributor
Mine Mobility Corp.
EV Car – Produce,
assemble, sell all
passenger EV
Producer
Distributor EV Now
Capital 50 M.THBDistribute EV Bus and hire AAB to
produce and assemble
Mine Mobility Research
R&D all electric vehicles
E Smart Transport
EV Ferry – Own and
operate mass transport
service and tourism
55%
100%
100%
75%
Support
EA
Mobility
Holding
99.99%
40%
100%
All
Buses
45%
EV
BusCRL
Transportation service and
tourism operator
99.99%
The most modern quick charge technology Compatible with all EV Brands, E Bus and E Ferry
CCS Combo type2 (EU) Home Charge
AC charge & DC Fast charge (80% 12 mins)
22/150 kW AC/DC Combo Charger
20
Sixs electric ferries are launched on 22 Dec 2020
Battery Business1,223 36%
EV Business, 1,506 , 45%
Charging Stations426
13%
Bio Diesel & PCM
73 2%
New Power Projects
126 4%
THB 3,354 mil.
Investment Plan
Progress / Target
Bio Diesel & PCM 73 mil.THB to invest in small machinery and equipment
Battery Plant
(Thailand) 1,223 mil.THB. To start production in Q1/2021
EV Business 1,506 mil.THB. Comprise of EV Bus and E Ferry.
EV Charging 426 mil. THB. Currently, achieved around 500 stations in 53 provinces with more than 2,000 outlets installed and expanding to nationwide
New Power Projects
126 mil.THB. Under studying
Investment Plan in 2021
22
Capital Investment in 2021
Disclaimer
This presentation contains summary information about Energy Absolute Public Company Limited (“EA” or “the Company”) and its subsidiaries as of 21January 2021 and, unless stated otherwise. The information does not purport to be complete or comprehensive.
This presentation contains forward looking statements that may be identified by use of words such as “anticipates,” “hopes,” “expects,” “estimates,”“intends,” “projects,”“plans”, “predicts,” “projects”, “aims” or other similar expressions that are used to identify such statements. Forward lookingstatements are based on certain assumptions and expectations of future events. No guarantee nor assurance is made that these assumptions andexpectations are accurate or will be realized. Such forward looking statements should be considered with caution, since actual results may differmaterially from those expressed or implied by such statements.
The information in this presentation were obtained from various external sources which has not verified through any independent source. Norepresentation or warranty, either express or implied, is made regarding the accuracy, completeness, correctness, reliability, or scope of theinformation and disclaim all responsibility and liability for the information (including, without limitation, liability for negligence).
This presentation is provided for the sole purpose of enhancing understanding of the Company and should not be construed as a legal, tax orinvestment recommendation or any other type of advice.
The Company does not provide any representation, warranty, endorsement, or acceptance, about opinion or statement of any analyst s or other thirdparties; or the use of any such opinion, or statement of any analysts or other third parties.
This document is strictly confidential and being given solely for your information and may not be shared, copied, reproduced or redistributed to anyother person in any manner.
