VGi Global Media PCLvgi.listedcompany.com/misc/PRESN/20140529-VGI-general... · 2014. 5. 29. · Investment involves risk. Prospective should understand the characteristics of Securities

VGi Global Media PCL

General and Business Update Presentation

May 2014

Investment involves risk. Prospective should understand the characteristics of Securities and study information about VGI Global Media Public Company Limited (“VGI” or the “Company”) before making a decision to invest in Securities.

This Presentation is not intended to provide the basis for any investment decision, nor to substitute your own analysis and investigation, and should not be considered as a recommendation to any recipient of this Presentation. Some statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respect to the Company’s corporate plans, strategies and beliefs and other statement that are not historical facts. These statement can be identified by the use of forward-looking terminology such as “may”, “will”, “expect” , “intend”, “estimate”, “continue”, “plan” or other similar words. The statements are based on the assumptions and beliefs of the Company’s management in light of the information currently available to the Company. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this Presentation is, or should be, relied on as promise or representation of the Company as to the future.

IR Contacts

Disclaimer

IR Department: Ms. Tisakorn Youngmod Ms. Napat Buchasuk Ms. Chama Savetbodi

Telephone: +66(0) 2273 8639 +66(0) 2273 8636

Fax: +66(0) 2273 8610

Email: [email protected]

Website: www.vgi.co.th

Agenda

SECTION 1 VGI in Brief

SECTION 2 Advertising Industry

SECTION 3 VGI by Business Units

SECTION 4 Key Success Factors & Competitive Advantage

SECTION 5 4Q & FY 13/14 Performance and Business Update

SECTION 6 Acquisition/Investment Policy

SECTION 7 FY 14/15 Target

APPENDICES

Key Milestones

4

1999 2003 2004 2009/10 2011/12 2005 2012/13 2013/14

Granted initial “License to Manage Marketing Services Agreement” from BTSC

Exclusive license to manage the advertising spaces and merchandising areas of 23 stations and all trains for a period of 10 years

Granted initial “Advertisement Display Concession Agreement” from Watsons

Granted initial “Advertisement Display Concession Agreement” from Tesco Lotus (non-Sales floor)

Granted initial “Advertisement Display Concession Agreement” from Big C (non-Sales floor)

Granted “Advertisement Display Concession Agreement” from Carrefour

BTSC becomes major shareholder of VGI

VGI acquired POV

Granted Advertisement Display Concession Agreement in “Sales floor” from Tesco Lotus and Big C

Amended “License to Manage Marketing Services Agreement” with BTSC

Listed on SET in Oct 2012

Included as a constituent member of SET100 Index in Jul 2013

Included as a constituent member of SET50 Index in Jan 2014

Formed a JV with Deelight Multimedia Co., Ltd.

Section 1: VGI in Brief

889 934 1,143

1,422 1,679

FY09/10 FY10/11 FY11/12 FY12/13 FY13/14

207 391

754

1,250 1,295

FY09/10 FY10/11 FY11/12 FY12/13 FY13/14

19

76 80

166 175

FY09/10 FY10/11 FY11/12 FY12/13 FY13/14

BTS Media

Office Building & Other Media

Modern Trade Media

HISTORICAL REVENUE* (THB mn)

*Excludes other income ** as of FY 2013/14

VGI Overview REVENUE

CONTRIBUTION** GROSS PROFIT

MARGIN**

53% 81%

25%

69%

41%

6%

Section 1: VGI in Brief 5

-

500

1,000

1,500

2,000

2,500

-

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

VGI Turnover (RHS) VGI TB SET Index (rebased)

SHARE INFORMATION (AS OF APR 2014)

KEY FIGURES

Remarks: - Exchange rate based on USD 1 = THB 32.29

• 2013/14 final dividend is subject to shareholders’ approval at the AGM on

3 Jul 2014

(FY 13/14) THB (mn) USD (mn)*

Revenue 3,149 98

EBITDA 1,510 47

Net Profit 1,146 35 Total Assets 2,741 85

Stock Code VGI

Outstanding Shares (mn) 3,432

Market Capitalisation (THB mn) 39,468

Market Capitalisation (USD mn) 1,220

Average Daily Traded Value (THB mn) 81

Average Daily Traded Value (USD mn) 3

DIVIDEND INFORMATION

VGI at a Glance

Dividend Policy Not less than 50% of net profit

2013/14 Payout Ratio* 93.4%

SHARE PRICE MOVEMENT

VGI First Day Trade Jun: MSCI

Effective

Jan: Listed in SET50

Sep: Par Split

TOP TEN SHAREHOLDERS (as of 31 Mar 2014)

THB

THB mn

THB mn

Nov: Bangkok Political Demonstration

Name (%)

BANGKOK MASS TRANSIT SYSTEM PCL 51.0

BTS GROUP HOLDINGS PCL 10.8

MR. PRACHA DUMRONGSUTHIPONG 2.7

THAI NVDR CO., LTD. 2.5

HSBC (SINGAPORE) NOMINEES PTE LTD 1.9

STATE STREET BANK EUROPE LIMITED 1.9

KRUNGSRI LONG-TERM DIVIDEND FUND 1.6

MR. NARES NGAMAPICHON 1.5

NORTRUST NOMINEES LIMITED-NTO SEC LENDING THAILAND 1.3

KRUNGSRI DIVIDEND FUND 0.9

Section 1: VGI in Brief 6

Jul: Listed in SET100

Agenda








APPENDICES

13/14 THAI MEDIA INDUSTRY MARKET SHARE

Media Industry Overview

Source: The Nielsen Company (Thailand) Limited

THAI MEDIA INDUSTRY ADSPEND (THB BN)

INDUSTRY, 5% CAGR

TV, 6% CAGR

TRANSIT, 19% CAGR

IN-STORE, 24% CAGR TV, 60%

Internet, 1%

In-Store, 2% Transit, 3%

Newspaper, 13%

Cinema, 7%

Radio, 5%

Magazine, 5%

Outdoor, 4%

Section 2: Advertising Industry 8

Excludes classified and house ads

90 93 104 105

114 113

52 55

63 63 69 68

1 2

2

3

3 4

0.8 1

1

2

3

2

2008/09 2009/10 2010/11 2011/12 2012/13 2013/14

QUATERLY 4Q 12/13 3Q 13/14 4Q 13/14 QoQ (%) YoY (%)

TV 16.5 17.2 15.4 -10.4% -6.9%

Outdoor 1.0 1.1 1.0 -4.8% -1.3%

Transit 0.8 0.9 0.8 -11.4% -0.8%

In-Store 0.5 0.6 0.3 -44.1% -33.2%

Industry 26.5 29.5 24.7 -16.2% -6.8%

YEARLY 2012/13 2013/14 YoY (%)

TV 68.8 68.1 -0.9%

Outdoor 4.5 4.2 -7.0%

Transit 3.2 3.5 10.4%

In-Store 2.8 2.5 -11.6%

Industry 114.4 113.4 -0.9%

Media Industry Overview Top 5 AdSpend by Business Segment (1Q 12/13 – 4Q 13/14)

9

THAI ADSPEND VALUE BY BUSINESS SEGMENTS (THB bn)

12.1 12.4

11.6

11.0

11.9 11.5

10.7 10.3

1.9

2.1

2.5

2.0

2.3

2.5

2.9

2.1 2.0

1.8

1.6

1.3 1.4

1.8 1.7

1.5

1.7 1.6

1.5

1.9

2.2

2.0

1.1 1.1

1.4

1.1 1.2 1.2 1.2

0.9

1Q 12/13 2Q 12/13 3Q 12/13 4Q 12/13 1Q 13/14 2Q 13/14 3Q 13/14 4Q 13/14

FMCG

Motor Vehicles

Government Related Communications

Leisure

4Q 13/14 OVERALL MEDIA INDUSTRY

1 FMCG 42%

2 MOTOR VEHICLES 8%

3 GOVERNMENT RELATED 6%

4 COMMUNICATIONS 6%

5 LEISURE 4%

TOP 5 66%

OTHERS 34%

4Q 13/14 VGI MASS TRANSIT

1 FMCG 39%

2 COMMUNICATIONS 11%

3 TRAVEL & TOURS 7%

4 LEISURE 5%

5 FOOD OUTLETS & RESTAURANTS 4%

TOP 5 66%

OTHERS 34%

1 FMCG 88%

2 MOTOR VEHICLE ACCESSORIES 5%

3 MOTOR VEHICLES 4%

4 FOOD OUTLETS & RESTAURANTS 1%

5 PHARMACEUTICALS 0.8%

TOP 5 98%

OTHERS 2%

4Q 13/14 VGI IN-STORE

Source: The Nielsen Company (Thailand) Limited

Section 2: Advertising Industry

Agenda








APPENDICES

STATIC MEDIA (ON BTS SKYTRAIN & PLATFORMS)

KEY CONCESSION TERMS DIGITAL MEDIA

Train Body Wrap

Merchandising Shop

Cladding

Platform Truss LED & Platform Screen Door

BTS MEDIA REVENUE (THB mn)

CAGR 18%

BTS Related Media

Exclusive rights for 23 stations & all BTS trains In Trains & On-Stations Merchandising Area Additional areas

RIGHTS

First right to renew contract and extend space on additional mass transit projects that BTSC is granted the rights to operate media space

18 May 2012 – 4 December 2029

EFFECTIVE PERIOD

CONCESSION FEE (PAYABLE TO BTSC)

5% - 20% of total revenues/year (an incremental increase of 5% every 5 years)

Digital Screen inside the train

MERCHANDISING

PAST SUCCESS

Merchandising Shop

Section 3: VGI by Business Units 11

272 308 406 427 468

583 734

889 934 1,143

1,422

1,679

BTS’ MEDIA NETWORK (exclusive rights for 23 stations & all trains)

BTS Related Media

16% additional train capacity in FY 14/15 • Full year effect of 35 c car trains • Full year effect of 5x4 car trains

13% additional train capacity in FY 19/20 • Expected full year effect of 7X4 car trains

TRAIN CAPACITY

Total Current Train Capacity: 52 trains/208 carriages

2014/15 BTS’ RIDERSHIP GROWTH TARGET

5-8% ridership growth


KEY CONCESSION TERMS DIGITAL MEDIA

Modern Trade Media

RIGHTS

Exclusive rights for existing and upcoming branches Tesco Lotus Big C (including former Carrefour) Watsons (digital media)

LENGTH OF CONTRACT

3-5 years on average

LICENSE FEE

Mainly based on percentage of revenue sharing and minimum guarantee

PAST SUCCESS

• Acquired exclusive rights to manage all advertising areas from Tesco Lotus and Big C, the top 2 players in the Modern Trade Retailer industry

• Big surge in revenue (93% growth in FY 2011/12) mainly from sales floor areas, which account for over 70% of total Modern Trade Media revenue

Radio Media in Tesco Lotus & Big C Health and Beauty Zone

STATIC MEDIA (SALES FLOOR AREA)

Shelf Divider Shelf Frame & Floor Sticker

STATIC MEDIA (NON-SALES FLOOR AREA)

Entrance Lightbox Sensormatic


Source: Tesco Lotus, Big C, and Bohdi Tree Knowledge Co., Ltd.

Modern Trade Media VGI MEDIA COVERAGE OF MODERN TRADE OUTLETS IN THAILAND*

* Data includes only large and medium formats as of 31 Mar 2014

50

19

83

23

62

57

43

16

53

18

NORTH

NORTHEAST CENTRAL

BKK EAST

SOUTH

48

16

BRANCHES: LARGE MEDIUM SMALL TOTAL

TESCO 124 223 1,409 1,756

BIG C 121 30 295 446

SAMPLE OF SALES FLOOR PLAN

Toys & Stationery Processed food, cooking, and confectionery

Chemical & Houseware


KEY CONCESSION TERMS OFFICE BUILDING MEDIA


PAST SUCCESS

OUTDOOR LED SCREENS

CHULALONGKORN UNIVERSITY BUS

RIGHTS AND LENGTH OF CONTRACT

Office Buildings 75 buildings in CBD, 3-5 years contract (avg.) Outdoor LED (Selling Agent) 4 locations in Bangkok 1 year contract with renewable rights Chulalongkorn University (CU) Bus 15 buses and 15 bus-stops 1 year contract with renewable rights

LICENSE FEE

Revenue sharing and fixed rates

• Changed to integrated network across all office buildings,

increasing sales by 50%

• Bundled Office Building Media with the Company’s other media and sold as a package, increasing occupancy and driving sales by 100%

Digital Screen in Elevators Lift Wrap

Rama 9 Junction Victory Monument

Bus Body Wrap Bus Shelter


TOTAL GRADE A OFFICE BUILDINGS IN BANGKOK


approximately 120 buildings

TOTAL BANGKOK GRADE A OFFICE BUILDINGS IN VGI PORTFOLIO

75 buildings 655 Screens


Agenda








APPENDICES

ABILITY TO REACH AUDIENCE

BUSINESS STRATEGY COST EFFECTIVENESS

Key Success Factors & Competitive Advantages Right Place, Right Timing, and Right Targeted Viewers

BTS SkyTrain and Office Buildings

• Captive media (No remote control) • High frequency • Strong impact

Modern Trade

• Final Point of Sales Media, which is the last mile to purchase

• Prominent locations • Nationwide viewer base

Source : The Nielsen Company (Thailand) Limited

Women, housewives and families

Working people and younger generation (age 15-35)

White collar workers

(age 24-45)

• VGI’s cost per thousand viewers is 15-20% cheaper than TV

Nationwide Media Network 1

Strong ability to reach viewers 2

Well-Classified Target Viewers

Product Advantage

3 Product Variety

4 Product Bundling

Office building

BTS

Modern Trade

Section 4: Key Success Factors & Key Competitive Advantage 18

2001 2002 2003 2004 2005 2006 2007 2008 2009/10 2010/11 2011/12 2012/13 2013/14

183 317 352

482 521 651

844 1,046

1,138 1,413

2,005

2,838

Jan - Dec Apr - Mar

Floods Global financial

crisis

Coup d’Etat

Bangkok Political

Demonstration

Note: *Includes other income

Unit : THB mn

Non-BTS Revenue*

BTS Ridership Trend

BTS Revenue*

Uninterrupted revenue growth in every single year despite various disruptions and decline in BTS ridership, demonstrating resilience against crisis.

VGI Revenue CAGR (12 years) = 27%

Key Success Factors & Competitive Advantages Resilience & Growth

Section 4: Key Success Factors & Key Competitive Advantage 19

3,149

Political Turmoil

Agenda








APPENDICES

Modern Trade Media

18%

P&L SNAPSHOT 4Q & FY 13/14 (THB MN)

4Q & FY 13/14 Overview

(THB MN) 4Q 13/14 4Q 12/13 %YOY 3Q 13/14 % QOQ FY 13/14 FY 12/13 %YOY

Operating Revenue 641 691 -7% 806 -20% 3,149 2,838 11%

Cost of sales 315 311 1% 315 0% 1,342 1,289 4%

Gross profit 326 380 -14% 491 -34% 1,807 1,548 17%

EBITDA 260 315 -18% 416 -38% 1,510 1,289 17%

Net profit 193 225* -14% 317 -39% 1,146 902* 27%

Gross profit margin 51% 55% 61% 57% 55%

EBITDA margin 40% 46% 52% 48% 45%

Net profit margin 30% 32% 39% 36% 32%

FY 13/14 REVENUE BREAKDOWN FY 13/14 GROSS PROFIT BREAKDOWN

BTS-related Media

75%


7%

6%


53%

BTS-related Media

41%

Modern Trade Media

21

* The Company was required to restate the prior year’s financial statement for comparison purposes in order to comply with the new accounting standard on deferred tax which became effective since January 2013.

Section 5: 4Q & FY 13/14 Performance and Business Update

361 440 393

1,422

1,679

4Q12/13 3Q13/14 4Q13/14 FY 12/13 FY 13/14

182

95 84

200

137

103

190

108 95

Train Station Merchandising andOthers

4Q 12/13

3Q 13/14

4Q 13/14

MARGINS (%)

BTS-related Media

Quarterly Gross Profit (%)

48% 45% 50%

27% 31% 28% 24% 24% 23%

REVENUE (THB MN) REVENUE BREAKDOWN (THB MN)

22

82%

82%

77%

4Q 12/13

3Q 13/14

4Q 13/14

78%

81%

FY 12/13

FY 13/14

Annual Gross Profit (%)


21%

30%

3%

4Q 12/13

3Q 13/14

4Q 13/14

232

67

243

76

167

53

Static Digital

4Q 12/13

3Q 13/14

4Q 13/14

Modern Trade Media

Quarterly Gross Profit (%) Annual Gross Profit (%)

76% 76% 78%

22% 7%

24% 24%


MARGINS (%)

23

26%

25%

FY 12/13

FY 13/14

299 319 220

1,250 1,295

4Q12/13 3Q13/14 4Q13/14 FY 12/13 FY 13/14


30

1

34

12

28

0

Office Buildings Others

4Q 12/13

3Q 13/14

4Q 13/14


100% 74% 97%

3% 13%

26%


MARGINS (%)

24

Quarterly Gross Profit (%) Annual Gross Profit (%)

72%

69%

FY 12/13

FY 13/14

63%

73%

56%

4Q 12/13

3Q 13/14

4Q 13/14

31 46

28

166 175

4Q12/13 3Q13/14 4Q13/14 FY 12/13 FY 13/14


826

1,007

331 45

111

6

Beginning cash(31/12/13)

CFO Joint Venture CapEx Interest Income Ending Cash(31/3/14)

Cash Flow & CapEx CASH FLOW MOVEMENT (31 Dec 13 – 31 Mar 14)

FY 13/14 CAPEX (THB MN)

FY 13/14

Platform Screen Door 176

BTS (Platform Truss LEDs and E-Poster) 299

Modern Trade and Others 85

Total 560

(THB mn)

CFI (150)

25 Section 5: 4Q & FY 13/14 Performance and Business Update

1,821 1,953

22 26

737 762

2,579 2,741

31-Mar-13 31-Mar-14

584 1,111

1,995

1,630

2,579 2,741

31-Mar-13 31-Mar-14

Non-current liabilities

ASSETS BREAKDOWN (THB MN)

Balance Sheet LIABILITIES AND EQUITY BREAKDOWN (THB MN)

Current assets

Non-current Assets

77%

23%

59%

41%

Current liabilities

Equity

28%

71%

1%

28%

71%

1%

KEY FINANCIAL RATIOS

DEBT TO EQUITY

FY 13/14: 0.0x

FY 12/13: 0.0x

LIABILITY TO EQUITY

FY 13/14: 0.4x

FY 12/13: 0.4x

CURRENT RATIO

FY 13/14: 2.1x

FY 12/13: 2.7x

26 Section 5: 4Q & FY 13/14 Performance and Business Update

Business Update Dividend Payments & Phar Partnership

27

DIVIDEND PAYMENTS

• Interim cash dividend of THB 0.18 per share and stock dividend of 25:1 paid on 27 Dec 2013

• Final cash dividend of THB 0.13 per share (subject to AGM on 3 July 2014)

• 2013/14 dividend payout ratio is 93.4%

1.20

0.184*

1.50*

0.13**

2012/13 2013/14

Interim dividend Final dividend

1.0%

1.3%

1.1%

1.5%

Note Dividend yield is calculated using VGI closing share price one day before the date of Board of Directors meeting approving the relevant dividend *2012/13 final dividend and 2013/14 interim dividend included stock dividend of 10:1 and 25:1, respectively. **2013/14 final dividend per share is subject to shareholders’ approval at the AGM on 3 July 2014

VGI Dividend Record

Dividend yield

PHAR PARTNERSHIP

Partner Phar Partnership, Thailand (exclusive media sales agency of Air Asia)

Rights Sale agent for AirAsia planes • 1st year: 30 planes • 2nd year: 38 planes • 3rd year: 42 planes

Contract Length 3 years


Business Update Strategic Investment: 24.43% in MACO

28

MACO OVERVIEW

Share information (as of 9 May 2014)

Stock code: MACO

Market capitalisation (THB mn): 2,903.6

Outstanding shares (mn shares): 300.8

Major shareholder post transaction (% out of all shares)

1. VGI Pcl. 24.43%

2. Tansalarak Group 10.05%

3. Maneerattanporn Group 8.40%

4. Meeprasertsakul Group 6.51%

Total major shareholder 49.93%

Product Description Location/Area

1. Billboard Static billboard Bangkok & vicinity / 170 billboard / 74,635 sqm

2. Street Furniture Tri vision media on 20 BTS columns/ Siam square billboard Bangkok / 2,217 sqm

3. Transit Light box at toll booths / tri vision, light-box & poster City grip light express, BTS walkway & Mochit station / 419 sqm

4. Made to order & Event Produce and provide advertising media services n/a



29

MACO’S FINANCIAL PERFORMANCE

Revenue structure Proven Track Record of Revenue and Net profit

2013 Dividend Yield* of 5.6% 2013 Total operating revenue : THB 724.6mn

*based on share price of THB 9.00

Transit, 13.0%

Made to order, 6.9%

Event, 1.7%

Street furniture, 27.5%

Other services, 2.9%

Billboard, 53.5%

635.5

732.4 724.6

98

139.5

173.8

2011 2012 2013

Operating revenue (THB mn) Net Profit (THB mn)

MACO space: Billboard, Street furniture and Transit

Non MACO space: Made to order and Production/Printing



30

BENEFITS TO VGI

• Expand media network and market reach

• Further expansion in outdoor segment

• Increase long-term revenue and net profit

• Steady dividend payout

• Future growth

• Increase product varieties

• Broader client’s portfolio

SYNERGY

• In short term, sale synergies can be created by bundling media packages from VGI and MACO.

• Knowledge sharing and transfer among highly experienced management team

INVESTMENT HIGHLIGHTS

• VGI invested 24.43% in MACO (73.5mn shares, at THB 9.00

• Total investment value of THB 661.5mn

• 3 BOD representative from VGI from total of 9 Directors

• Accounted as equity method of consolidation. Investment income from MACO in 1Q 14/15 will be recorded proportionately according to VGI shareholding in MACO between 12 May to 30 June 2014 as follows:

BALANCE SHEET

Current assets

Cash and cash equivalents THB xxmn

Non-current assets

Investment in associates THB xxmn

P&L

Revenues

Share of profit (loss) from investment in associates

THB xxmn


Business Update Warrant Issuance

31

KEY TERMS AND CONDITIONS OF WARRANT RATIONALE

• Free warrants

• Preferential right to existing shareholders

• Funding to be used for potential acquisitions/ CaPex

TICKER VGI-W1

TERMS 4 Years

EX-RIGHTS DATE 9 July 2014

EXERCISE PERIOD Quarterly basis

WARRANT PRICE Free

ALLOCATION To existing shareholders at the ratio of 4 VGI existing shares : 1 VGI-W1

NO. OF WARRANTS

Up to 857,993,407 Units

EXERCISE RATIO 1 VGI-W1 to 1 ordinary share of VGI

EXERCISE PRICE THB 14.00

Matter is subject to shareholder approval of AGM on 3 July 2014

Expected maximum proceeds

THB 12,011,067,698


Agenda








APPENDICES

Acquisition/Investment Policy

33

Investment policy

SECTOR: Out-of-Home media sector

STAKE: Influential or controlling

GEOGRAPHY: Thailand focus, selective ASEAN (overseas require strong local partner)

RETURN CRITERIA: Minimum IRR or payback period

RATIONALE: • Increase market share in Out-of-Home media segment (to be the leader in OHM)

• Revenue and cost synergies

Section 6: Acquisition/Investment Policy

Agenda








APPENDICES

2014/15 Target: Overall Business

35

EXPECTED REVENUE GROWTH

22-24% BTS

5 -9% Modern

Trade

7- 10% Off.

Bldg & Others 13 -17%

YoY revenue growth

EXPECTED CAPEX 2014/15

BTS Related Media THB 230 mn

Platform Screen Door THB 290 mn

Modern Trade Media THB 50 mn

Office Building & Other Media THB 30 mn

Total 2014/15 CapEx of

THB 600mn Section 7: FY 14/15 Target

APPENDICES

Update on Green and Pink Line Extension

BTSG is WELL POSITIONED FOR NEW CONTRACTS

Relevant expertise Financial strength Green line advantage

New contracts are expected to be on a ‘PPP GROSS COST BASIS’

Operator to invest in civil works and E&M works with repayment from government Operator given operation contract Variations will be considered

Light Rail Transport (LRT) Bang Na – Suvarnabhumi 18.3km; completed by 2017

Dark Green South Line Bearing – Samut Prakarn 12.8 km; completed by 2017

Light Green Line National Stadium – Yodse

1.0 km; completed by 2019

Dark Green North Line Mo Chit – Saphan Mai


Pink Line Khae Rai – Min Buri 36.0 km; completed by 2017

Dark Green North Line Kukod – Lamlukka 6.5 km; completed by 2019

Dark Green North Line Saphan Mai – Kukod


Dark Green South Line Samut Prakarn – Bang Pu


37

Key Financial Ratios FY 13/14 FY 12/13 FY 11/12

Profitability Ratios

Gross profit (%) 57.4% 54.6% 34.5%

EBITDA (%) 47.9% 45.4% 26.6%

EBIT (%) 41.9% 21.6%

Net profit (%) 36.4% 32.0% 14.1%

Return on Equity (%) 60.7% 86.2% 78.8%

Liquidity Ratios

Current Ratio (times) 2.1x 2.7x 1.0x

Quick Ratio (times) 2.1x 2.6x 0.9x

Efficiency Ratios

Return on Assets (%) 43.1% 46.7% 21.3%

Asset turnover (times) 1.2x 1.5x 1.5x

Leverage Ratios

Liability to Equity (times) 0.4x 0.4x 3.5x

Debt to Equity (times) No leverage

38

Kong Chi Keung (Director)

Keeree Kanjanapas (Chairman)

VGI Board of Directors

Kavin Kanjanapas (Director and Chairman of Executive Committee)

Surapong Laoha-Unya (Director)

Marut Arthakaivalvatee (Director and Chief Executive Officer)

Chan Kin Tak (Director & Chief Operating Officer)

Assoc.Prof.Jaruporn Viyanant (Independent Director and Chairman of Audit Committee)

Maneeporn Siriwatanawong (Independent Director and Audit Committee)

Mana Jantanayingyong (Independent Director and Audit Committee)

• Over 10 years of commitment as a role of director and management. He is one of the key persons who has steered the performance of VGI during the last decade

• His experience as Chief Operating Officer of Bangkok Mass Transit System Plc. since 2006 provides VGI with insights to BTS-related business

• Held various well-respected directorship positions in various

government-related organizations such as the Bank of Thailand, Office of the Prime Minister, the Securities and Exchange Commission, and the Stock Exchange of Thailand, etc.

• More than 35 years in the advertising & media industry with experience in multinational and domestic companies. He has worked with leading multinational and domestic companies such as McCann-Erickson Thailand, Oglivy & Mather (Thailand) and Grammy Entertainment

• Extensive experiences in the field of tax audit with the Revenue Department and Internal Auditor with the Bank of Ayudhya Plc.

• Experiences in the retail business with Watsons in Thailand and Hong Kong

• Held various management position in international media agencies such as Executive Director of Group M, Managing Director of Mediaedge: CIA and management of McCann-Erickson Thailand

• One of the most successful business person in Thailand with experiences in various industries. Khun Keeree is the one who introduced the first SkyTrain network to Thailand. He brings along valuable business experiences while providing key strategic directions to VGI

• More than 10 years of involvement with VGI as the Director

39

Shareholding Structure

BTSC

BTSG

Kanjanapas Family

BTSG’s Minorities

BTSC’s Minorities

41.7% 58.3%

97.5% 2.5%

0.1%

51.0%

Public Kanjanapas

Family

39.7% 0.5%

10.8%

As of 31 Mar 2014

40

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Documents

VGi Global Media PCLvgi.listedcompany.com/misc/PRESN/20140529-VGI-general... · 2014. 5. 29. · Investment involves risk. Prospective should understand the characteristics of Securities