Nawarat Patanakarn Plc. Opportunity Day Dec

Transcription

1 Nawarat Patanakarn Plc. Opportunity Day Dec

2 Disclaimer I m p o r t a n t N o t i c e: The content of the presentation provided by the Nawarat Patanakarn Public Company Limited (the Company ) is intended to provide as information for discussion purpose only and is strictly for private and confidential. Past performance is not indicative of future performance. Any unauthorised disclosure, use or dissemination, either whole or partial, is prohibited. It must not be reproduced, copied or made available to others. Some of the information in this presentation may contain projections or other forward looking statements regarding future events or future financial performance of countries, markets or companies. These statements are only predictions and actual events or results may differ materially. The reader must make his/her own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment. Any opinion or estimate contained in this presentation is made on a general basis and is not to be relied on by the reader as advice. Neither the Company nor any of its servants or agents have given any consideration to nor have they or any of them made any investigation of the investment objectives, financial situation or particular need of the reader, any specific person or group of persons. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of the reader, any person or group of persons acting on any information, opinion or estimate contained in this presentation.

3 COMPANY INTRODUCTION COMPANY OVERVIEW 1976 Established by Mr. Mana Karnasuta 1995 Increased registered capital to 500 million THB 1995 listed in the Stock Exchange of Thailand (SET) 2016 Annual Turnover 8,360 million THB 2016 Total Asset 12,576 million THB 2017 Registered capital 2,585 million THB 2017 Corporate Governance Rating upgraded to 4 star 2017 TRIS Rating BBB-

4 To be one COMPANY of Thailand s INTRODUCTION top five largest general construction contractors with international standard, stability and sustainability together with responsibility to society and environment Our Vision and Core Value

5 Our Business Construction Contracting and EPC Pre-stressed and Precast Concrete Product Steel Fabrication Wastewater Treatment Plant Design&Build and Operation&Maintenance Real Estate and Property Development

6 Myanmar Laos Operations in Thailand and around AEC Cambodia Thailand Bangkok HQ Bangna Factory Samutsakorn Factory Chacheungsao Factory Cholburi Factory Vietnam

7 Experienced Area Power & Industrial Plant Power Plant Hydropower Plant Industrial Plant/Warehouse Wastewater Treatment Plant Industrial Estate Infrastructure Transportation Highway/Expressway Bridge/Flyover/Interchange MRT Station Airport Underground Tunnel-Water/Wastewater/Utilities Pipe Jacking/Shaft Underground works Buildings Convention Center Shopping Complex Hotel/Resort Condominium Office/Hospital/Showroom Housing Estate Marine Berth/Jetty LNG Terminal Dredging Channel Container Yard Water Containment Reservoir/Dam Flood Protection

8 Human Capital Total manpower 3500 (Excluded Outsource) Professional engineer 262 Technician 550

9 Production Facilities Location: Bangkok & EEC area Samutprakarn, Bangna Factory Chachoeangsao Factory Samutsakhon Cholburi Factory Precast Product: Total capacity 20,000 m 3 per month Pre-Stressed Concrete Piles & Girder Pre-Stressed Concrete Systems for Building Shaft Plant and Pre-cast Concrete Jacking Pipes Precast Concrete Products Steel Fabrication: Total capacity 1,000 ton per month

10 Bangbung Cholburi Production Facilities

11 Bangnampreaw Chachaengsao Production Facilities

12 Project References Hydropower Theun-Hinboun Expansion Project, Bolikumsai, Laos PDR Lam Ta Khong Reservoir and Recycle Hydropower Nakorn Nam Sana- Hydroelectric Power Project, Laos PDR

13 Project References Power Plant CHANA Combined Cycle Power Plant Block 2 (CNCP 2), Songkla Wangnoi Combined Cycle Power Plant Block 4 (WNCC 4), Ayutthaya Mae Moh Power Plant Units 4-7 Replacement Project, Lampang

14 Small Power Plant Project References Banpong Utilities SPP Project, Ratchaburi Thailand ABP4&5 Combined Cycle Power Plant Project, Rayong BOWIN Compbined Cycle Cogeneration Plant, Amata Nakorn Industrial Estate

15 Beer Singha Factory Banglane, Nakornpratom, Thailand Project References Industrial Works CPF - DISTRIBUTION CENTER

16 Project Reference LNG Terminal PTTLNG Company Limited Jetty Work: RTC-SCG Chemical & DOW Chemical

17 Project Reference Port & Berth Main Berth:Prachuap Port Co.,Ltd. Wharf: Prachuap Port Co.,Ltd.

18 Project Reference Wastewater Treatment PTT WWTP Rayong BMA WWTP Nongkaem

19 Highway / Bridge Project Reference Highway No.7 Chonburi Pattaya Section 3 PREK PNOV BRIDGE (Over Tonle Sap River), CAMBODIA

20 Project Reference Highway / Bridge Bridge Over Budhamonthon Road, Bangkok Suvarnaphumi Airport Road(Part 1), At intersection of Highway Soi On Nuch

21 Project Reference BMA Flood Protection D 5.2 m. Tunneling MRT Green Line Utilities MWA Water Transmission

22 Project Reference MEA Utilities Tunnel Tunneling MWA Water Transmission

23 Project Reference Hotel Dawei Myanmar Buildings PTT Academy SCG Experience Center

24 Project Reference The Crystal Rachapruke Buildings Queen Sirikit National Convention Center

25 Project Reference Portochino Car park Bowin CE Warehouse BIF Warehouse Prefab Concrete

26 Project Reference Property Development

27 Professionalism QUALITY & SAFETY ENVIRONMENTAL HEALTH STANDARD

28 Sustainable Development

29 Performance Summary

30 Q3/2017 Financial Performance (Unit : THB mm) Q3/2017 Financial Highlights Construction contract +2,327.2 Rendering of sale and service Other Income Total revenues +2,632.9 Cost of construction -2,235.1 Cost of sale and service SG&A Doubtful debts - Total Expense -2,619.0 Profit (loss) from associates Finance cost Income Tax -1.7 Net earning Non-controlling Interest +3.1 Net earning to Equity Holders -74.6

31 9M/2017 Financial Performance (Unit : THB mm) 9M/2017 Financial Highlights Construction contract +6,331.4 Rendering of sale and service Other Income Total revenues +6,861.2 Cost of construction Cost of sale and service SG&A Doubtful debts - Total Expense -6,733.9 Profit (loss) from associates +2.3 Finance cost Income Tax Net earning Non-controlling Interest +6.9 Net earning to Equity Holders -66.2

32 Details of Revenue Other Concrete Product Real Estate Construction 1% 1% 1% 1% 3% 2% 3% 3% 3% 1% 1% 4% 92% 94% 95% 95% Q3/17

33 Key Performance Index Construction Revenue and Growth (Unit:THB mm) Gross Margin +25% yoy +9% yoy +10% yoy +13% yoy 4.4% 5.6% 7.9% 6.9% 6,603 7,202 7,919 6, Q3/ Q3/17 SG&A/Sales Construction Margin Net Margin 6.1% 5.6% 4.6% 5.0% 0.1% 0.6% -1.0% -2.3% Q3/ Q3/17

34 Key Performance Index New Projects Awarded (Unit:THB mm) Backlog Amounts (Unit:THB mm) 9,574 9,259 6,265 5,363 14,649 13,856 14,592 4,144 2,475 3,535 13,543 3,871 11,719 2,092 10,505 11,381 11,057 9,672 9, /12/ /06/17 30/09/2017 D/E ratio Current Ratio 2.10x 2.36x 2.52x 2.16x 2.30x 1.44x 1.47x 1.42x Q3/ Q3/17

35 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Million Baht Key Performance Index Total Revenues Cost of Good Sold 3,000 2,633 2,500 2,475 2,000 1,500 1,820 1,382 1,919 1,537 2,022 1,767 2,091 1,791 1,624 1,625 1,959 1,762 2,063 1,849 1,861 1,793 1,704 1,477 2,195 1,987 1,963 1,769 2,082 2,087 1,804 2,141 1,853 2,235 1,

36 Current Backlog 26

37 Current Backlog

38 Current Backlog

39 Current Backlog

40 Current Backlog

41 Current Backlog

42 Backlog Type & Expected Gross Margin Future projects are to be focused on high-margin works in which the company has competitive edge Expected Gross Margin By Project Type Total Backlog Composition by Project Types Tunnel Marine Building Industrial Infrastructure Earth Work Higher Company's expertise & Core focus of '16 & '17 Marine Tunnel Industrial 23% 16% 16% 29% 10% 52% 1% 45% Lower Infrastructure Building Earth Work 30% 20% 5% 14% 8% 4% 13% 22% 20% 3% 2% 13% 30% 1% 24% /09/2017

43 Current Backlog Budget by Project Size Portfolio 2,481, 11% 1,120, 5% 2,000 mb up 1,000-1,999 12,831, 58% 5,709, 26% Less than 500 Total Backlog Composition by Owner 6% 8% Government 37% 49% Government (Subcontract) Foreign Private

44 Cost Structure Consumable Material Subcontractor Salary & Wages Equipment Others 13% 16% 12% 12% 13% 11% 11% 12% 10% 10% 10% 10% 18% 25% 26% 30% 46% 38% 41% 36% Q3/2017

45 Million Baht New Project Engagement 17 New Project Engagement by Type 10,000 9,000 8,000 New Project Engagement 2017 (accumulated value) Target 2017 : 10,000 MB 9% 7,000 6,000 5,000 5,363 5,363 5,363 37% 40% Infrastructure Industrial 4,000 4,383 4,383 Building 3,000 2,000 1, ,471 1,644 1,679 1,767 14% Tunnel 0 Dec/16 1M/17 2M/17 3M/17 4M/17 5M/17 6M/17 7M/17 8M/17 9M/17 10M/17 11M/17 12M/17

46 New Projects Awarded in 2017 Project Contract Value Type (THB mm) 1. Warehouse 72 Industrial 2. House Building 51 Building 3. Flood Protection System 326 Infrastructure 4. Power Plant 1,310 Industrial 5. Drain Water System 162 Infrastructure 6. Compressor Station 88 Industrial 7. Tunnel Link 219 Tunnel 8. Underground Conduits 1,431 Tunnel 9. Underground Conduits 332 Tunnel 10. Power Plant 655 Industrial 11. MRT Depot 663 Building 12. Office & training center 54 Building TOTAL 5,363

47 Thailand Construction Industry Overview Q3/2017 and 2018 Trend

48 GDP and Construction Industry

49 Key Indicators - Investment

50 Construction Output

51 Employment Rate

52 Economy Trend 2018

53 Economy Trend 2018

54 Mega Project 2016 pending

55 Mega Project 2017 & more

56 Mega Project Expenditure

57 CLMV the Opportunities for Thailand

58 Source: ADB Report 2017 CLMV Strong GDP Growth

59 Key Export for Thailand

60 Infrastructure in Need for AEC

61 Infrastructure in Need for AEC

62 AEC Projects Pipeline (US billion) Energy & Utilities Infrastructure Commercial & Institutional Industrial Residential

63 Spending and Revenues Source: ESCAP Report 2017

64 Business Strategy & Plan Year 2018

65 Business Strategy Engaged in high engineering and sophisticated project with competitive edge from 40 years of experiences and qualified engineers 2. Balance of customer portfolio selection in both public and private sectors to optimize risks and return 3. Building relationship with multinational EPC and partners to widen access for large infrastructure projects 4. Leverage long years of proven track record to gain market trustworthy as preferred contractor 5. Competitiveness and productivity improvement with modern equipment and IT technology as well as create knowledge management to leverage human capital 6. Expand and diversify into business with synergy strength and outreach business coverage in AEC within arm-length to increase shareholders value 7. Continuously build-in CG and CSR into corporate operations for sustainable growth

66 Following Work Budget by Project Size 700, 2% 2,915, 9% 2,000 mb up Total = 32,223 THB mm (As of 1 Dec 2017) 4,438 14% 24,170, 75% 1,000-1, Less than 500 Composition by Owner 12% Government 23% 65% Government (Subcontract) Private

67 New Businesses

68 New Business - Property Development Based on its success from CIN, the Company will selectively invest in more property projects that provide both attractive margins and synergies with its current business The Issara Ladprao Modern high end condominium on ladprao road JV with Charn Issara Development PCL (CI:MANA 60:40) Project revenue ~ THB 2,700 mm Total 561 units ISSI Condominium Modern condominium on Suksawat road JV with Charn Issara Development PCL (CI:MANA 60:40) Project revenue ~THB 1,900 mm Total 892 units Unit area: m 2

69 New Business - Property Development Baan Issara Bangna The housing project on Bangna-Trad Road, Km. 8 JV with Charn Issara Development PCL (CI:MANA 60:40) Project revenue ~ THB 2,600 mm Total 43 units Total land rais

70 New Business - Property Development Villa Baranee The housing project on Rangsit Klong 3 Road 100% owned by NWR Expected project revenue ~ THB 630 mm Total 198 units Total land rais Baranee Park The housing project on Romklao Road A subsidiary 99% owned by NWR (Mana Patanakarn Company Limited) Expected project revenue ~ THB 1,000 mm Total 87 plots Total land 22 rais

71 New Business - Property Development Aspen Condo Lasalle Low rise condominium on Lasalle road A subsidiary 99% owned by NWR (Mana Patanakarn Company Limited) Expected project revenue ~ THB 780 mm Total 425 units Total land rais

72 New Business - Property Development Aspen Condo Lasalle Phase B Low rise condominium on Lasalle road A subsidiary 99% owned by NWR (Mana Patanakarn Company Limited) Expected project revenue ~ THB 750 mm Total 398 units Total land rais

73 New Business - Property Development Baranee Residence The housing project on Rangsit Klong 3 Road A subsidiary 99% owned by NWR (Mana Patanakarn Company Limited) Expected project revenue ~ THB 850 mm Total 140 units Total land rais

74 New Business - Foods Diversify from its core business, food industry is strategically competitive for Thailand Taste Maker Co., Ltd. is established with registered capital THB 20 million to develop food products and services for export and hospitality industry

75 Ready to Serve Soup & Sauce and Snacks New Business - Foods

76 Q&A Session

77 Thank You