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Bangkok Expressway and Metro Public Company Limited (BEM)February 2019
BEM: Business Overview
Road RailCommercial
DevelopmentInvestment
➢ Total Expressway SES 38.5 Kms.
Sector C+ 32 Kms.SOE 16.7 Kms.Total 87.2 Kms.
➢ Traffic Volume in Jan 191,239,578 trips/dayGrowth 2.74% YoY
➢ Tolls Revenue in Jan 1928.17 MB./dayGrowth 3.34% YoY
➢ Total RailIBL 20 Kms. 18 stationsBL Ex 27 Kms. 20 stationsPPL 23 Kms. 16 stations Total 70 Kms. 54 stations
➢ BL Ridership in Jan 19316,850 trips/dayGrowth 5.96% YoY
➢ BL farebox in Jan 198.04 MB./dayGrowth 6.28% YoY
➢ PPL O&M service incomeAnnual Income apx.1,800MB./year
➢ Fully open BL Ex in Y2020 Section 1: 11 Aug. 2017Section 2: 14 Aug. 2019Section 3: By Mar. 2020
(Section 3.1: 25 Dec. 2019)(Section 3.2: 2 Mar. 2020)
➢ BL = IBL + BL Ex For advertising in Stations& Trains, Retailing andTelecommunications
➢ PPL to be negotiated with MRTA
➢ Expressway Ads on SES
➢ CD RevenueY2017 = 675 MB.Q3/2018 = 167 MB.
Growth Y17/16 = 18% YoY
➢ Infrastructure portfolio- Owns 99.99% in NECL- Owns 65.15% in BMN- Owns 19.29% in TTW- Owns 17.83% in CKP
➢ Profit sharing in P&L Y2017 406 MB.9M/2018 339 MB.
➢ Cash Dividend Received Y2017 551MB.
2
13,233 15,393
12,503
2016 2017 9M/2018
Unit: MB.
BEM: Financial Highlights & Earning Outlook
2,606
3,123
2,804*
2016 2017 9M/2018
NET PROFIT
0.11 0.13
0.06*
0.170.20
0.18
2016 2017 9M/2018
Unit: Baht
EPS
DPS/EPS
1.33
1.38
1.30
2016 2017 Q3/2018
NET IBD/E
Unit : Times
Unit: MB.
TOTAL REVENUE
3
65%
30%
5%
Road
Rail
Commercial Development
REVENUE STRUCTURE
As of Q3/2018
DPS
Earning Highlights & its Outlook :
- Rev. growth Y17/16 = 16.3% YoY
- Net Profit growth Y17/16 = 19.80% YoY
- Y17 Significant Revenue growth from PPL
Line & SOE Expressway
- Reduce interest rate fluctuation risk to
90% Fixed interest of Total Debts
- Y18 Full year impact from new projects and
Opening BL Ex at Tao Poon ST.
(connect PPL & BL) and the SOE ramp to the
north.
- Y19 To Open BL Ex Section II on 14 Aug. 19
- Y20 To Open Full BL Line by Mar’20Remark : *DPS H1/2018 = 0.06
Remark : *Excluding non - cash extra item at 2,030 MB. (net tax)
Overview of Expressway Business
Expressway NetworkDistance
(kms.)Operator
1. First Stage Expressway System (FES) 27.1 EXAT
2. Second Stage Expressway System (SES) 38.5 BEM
3. Northern Stage Expressway (C+)(Bang Pa In – Pak Kret Expressway)
32.0 NECL
4. Don Muang Tollway (DMT) 28.0 DMT
5. Ramindra-Atnarong Expressway (RAE) 32.9 EXAT
6. Bang Pli - Suksawad Expressway (Southern Outer Bangkok Ring Road) and Highway No. 37 (Suksawad-Bang Khun Thien Section)
42.3 EXAT
7. Bangna-Chonburi Expressway 56.7 EXAT
8. Si Rat – Outer Ring Road Expressway (SOE) 16.7 BEM
Total 274.2
• BEM is the largest private expressway operator in Thailand.
• More than 1 million journeys a day in BEM toll road system.
• BEM is now an operator of
➢ SES (Sector A-B-C-D) under two concession agreements ending in 2020 and 2027 respectively, and
➢ SOE has been operated since August 22, 2016
• BEM shares 40% of Toll Revenue from FES Toll road under SES Concession.
• NECL, a subsidiary of BEM, is an operator of Bangpain-Pak Kret expressway (Sector C+) under a concession agreement ending in 2026.
4
Highlights of Expressway Business
8,485 8,815 9,301
9,957
7,576
1,104 1,142 1,178
1,214 1,228
2014 2015 2016 2017 9M/2018
Expressway Revenues (MB.)
Traffic ('000 Trips/Day)
Remaining Concession PeriodToll Revenues & Traffic Financial Strength
2018
2020
Toll Revenues
Existing Projects
( FES&SES&C+)
✓ Reliable cash revenues✓ Toll revision every 5 years
✓ Rights to extend the contract for 10 years twice
SOE Project
✓ East-West Corridor linking between Bangkok city and its vicinity area
✓ SOE Ramp opened on 30 Sep. 18
Traffic
✓ Steady traffic growth✓ CAGR = 2.88% (2011 - 2017)✓ SOE contributes highest
traffic growth.
• EXAT is responsible for Land acquisition matter
• 100% revenues to BEM, but sharing with EXAT
if 13.5% < FIRR ≤ 15.5%, 30% of its NCF that exceeds 13.5% in such year(s)
if FIRR > 15.5%, 50% of its NCF that exceeds 15.5% in such year(s)
• Toll increased every 5 years (Fixed amount)
SOE Project
• 30-year concession (15 Dec 2012 – 2042) under BTO basis
• Project cost 24,145 MB.
• Construction Cost 22,500 MB. ( Construction period 48 months)
• 16.7 kms. with 3-dual lanes, 10 toll plazas (Inbound=6, Outbound=4)
East-West Corridor linking between Bangkok city and its vicinity
2042
2042
2027
2026
2020 2030FES & SES
(Sector A-B-C)
Udonrattaya (Sector C+)
Sirat Outer Ring
(SOE)
SES Extension(Sector D)
2040
5
Source : MOT
Bangkok Metropolitan Mass Rapid Transit Network Master Plan
Future Bangkok Mass Rapid Transit Network: 10 Lines total 464 kms.
Thammasart –Mahachai(80.8 kms.)
1
2 Salaya-Hau Mark(48 kms.)
3 Airport Link (50.3 kms.)
4 Lumlukka – Bang Pu (66.5 kms.)
5 Yot Se – Bang Wa(15.5 kms.)
6Bang Sue – Phuttamonthon Sai 4(55 kms.)
7 Bang Yai – Rat Burana (42.8 kms.)
8Taling Chan-Min Buri– Thailand Cultural Center(37.5 kms.)
10 Lat Phrao - Samrong(30.4 kms.)
9 Kae Rai– Min Buri (36 kms.)
6
Metro Map
ProjectsDistance
kms.Stations Trains Cars Status
Operated(Year)
Operator
Blue Line (Bang Sue-Hua Lamphong)+ 1 station (Tao Poon)
21 19 19 57 Operating2004
Aug 11, 2017BEM
Purple Line (Bang Yai-Tao Poon) 23 16 21 63 Operating Aug 6, 2016 BEM
Airport Rail Link (Phaya Thai-Suvarnabhumi Airport)
28.5 8 9 - Operating 2010 SRT
Green Line- Mochit - Kheha
35.3 3174 296 Operating 1999 BTS
Light Green Line- National Stadium-Saphan Taksin-Bang Wa
14.5 13
Total (kms.) 122.2
Existing Metro Lines 6 more Lines under construction
ProjectDistance
kms.Stations Trains Cars Status
Operated(Year)
Operator
Blue Line (Extension)Bang Sue-Tha PraHua Lamphong-Lak Song
27 20 35* 105 Constructing 2020 BEM
Red Line (Bang Sue-Rang Sit) 26.3 8 - - Constructing 2021 SRT
Green Line Mochit - Khu Khot Bearing – Samut Prakan
1913
169
- Constructing 2021 BTS
Pink Line (Kae Rai – Min Buri) 36 30 42 168 Constructing 2021 BTS
Yellow Line (Lat Phrao –Samrong)
30.4 23 30 120 Constructing 2021 BTS
Orange Line(TCC - Minburi)
21.2 17 - - Constructing 2022-2023 -
Total (kms.) 172.9
Remark: *7 of 35 trains will be used for IBL 7
20 20 20 20 20
23 23 23 23
27 27 27
37.5 37.5
19.8
8
2015 2016 2018-20F 2021-23F 2024-26F
BEM’s rail service by distance (kms.)
Blue line (IBL) Purple line
Blue line Extensions Orange line
Purple line Extensions Blue line Extension 2
Future Expected
Highlights of Mass Transit Business
Rail Revenues & Ridership High Potential Growth
➢ Operated➢ PPP Gross Cost➢ Income source : O&M services
Annual income Apx. 1,800 MB./year➢ COD : Aug 6, 2016
➢ Concession period 30 years (2013 - 2043)
Purple Line Bang Yai-Bang Sue
➢ Under construction➢ PPP Net Cost➢ Income source : Ridership➢ Operational within 2020➢ Concession period 33years
(2017 – 2050)➢ Fully open BL Ex in Y2020
Section 1: 11 Aug. 2017Section 2: 14 Aug. 2019Section 3: By Mar. 2020 (Section 3.1: 25 Dec. 2019)(Section 3.2: 2 Mar. 2020)
Blue Line ExtensionHua Lamphong – Lak Song
Bang Sue – Tha Phra
Farebox revenues & Ridership
✓ Organic ridership growth 6-8%✓ Fares revision every 2 years✓ Additional revenues from Purple
line✓ Passengers fed to Initial Blue
Line
Expected Service by Distance
✓ Purple line operated on Aug 6, 2016
✓ BL EX is expected to fully operate in Y2020
Initial Blue Line Hua Lamphong – Bang Sue
➢ Operated➢ PPP Net Cost➢ Income source : Ridership➢ COD : July 3, 2004➢ Concession period 25 years (2004 - 2029) ➢ Extended to the year 2050 in accordance
with BL EX Concession.
2,248 2,374
3,230
4,521
3,562
291 300 317
342
370
2014 2015 2016 2017 9M/2018
Farebox Revenues(THB mm)
Ridership ('000 Tripsper Working Day)
8
Tao PoonBang PhoBang AorBang PladSirindhorn
Bang Yee Kan
Bang Khunnon
Yaek Fai Chai
Bang Sue
Charan 13
Tha PraBang WaPetchkasem48
Paseechareon
Bang Kae
Bang Phai
Hua LumphongWat Mungkorn
Sam YotSanam Chai
Isaraphab
Initial Blue Line
Dragon Temple
Yanhee Hospital
Wat Pho
Grand Palace
Siriraj Hospital
Central Wang Burapa
Existing : In
itial Blu
e Line
Makro Charan Br.
BIG C
The Mall Tha Pra
Seacon Bang Kae
The Mall Bang KaePaknam Temple
Hua Lumphong Grand Station
Rajini School
Royal Navy
Phayathai 3Hospital
China Town
Sampheng Wholesale Market
Pahurat Cloth Market
Lak Song
EGAT HQ
Flower Market
The Old Siam Mall
Mega Shopping Mall
Major Pinklao
Central Pinklao
EENN Hospital
Thonburi 2 Hospital
New Parliament
Thammasart U.
Ch
ao P
hraya R
iver
Siam Museum
Bank of Thailand
Depot
TiewpaingamSchool
Somdejchaopraya University
Emerald Buddha Temple
Yothinburana School
Siam University
SCG HQ
Map of Blue Line Extension (BL EX)
Section I
Section III
Section II
Opened 11 Aug. 2017
Start from 25 Dec. 2019*
Open 14 Aug. 2019
Section 3.1: Tao Poon – Sirindhorn stations target to open 25 Dec. 2019
Section 3.2:Tha Pra – Sirindhorn stations target to open 2 Mar. 2020
*
*
9
Section I (Bang Sue - Tao Poon station)
2020
Kamphaeng Phet
Existing IBL
Tao Poon
BL EX
Tao Poon Bang Sue
SECTION I(Bang Sue – Tao Poon station)
1 km.
PPL
Section I
From Bang Sue
Operated since August 11, 2017
Tao Poon
10
Overview of Commercial Development Business
Advertising Telecommunications Retail Spaces
➢ Retail Spaces in 11 MRT Stations & 1 Park & Ride Building
➢ Brighten up: 9 stations
➢ Under Development: 2 stations
➢ Mobile phone Network
➢ High Speed Internet
➢ Wi-Fi Services
➢ Telecommunications Signal System (2G, 3G, 4G)
➢ Future Internet Technology
18 Stations & 19 Trains
➢ Static Media
➢ Digital Media
➢ Creative & Innovative Design
New Media : DIGITAL
➢ 119 Screens in 18 stations
11
Target
to double
CD revenue
in Y2021
501 549 573 675
493
2014 2015 2016 2017 9M/2018
Commercial Development
CD Revenues
Unit: MB.
Highlights of Commercial Development Business
More rooms to grow
Advertising✓ Revenue increased by eyeballs✓ Rooms to grow outside MRT
CD revenues ✓ CAGR = 11% p.a. (2013-2017)✓ New CD expected by 2019
Telecommunications
✓ Steady CF✓ Long term contracts
Retails✓ Rental rates increased by
ridership's traffic✓ Open more locations
➢ To Operate Commercial Development➢ Tao Poon station opened on 11 Aug. 2017
Blue Line ExtensionHua Lamphong – Lak Song
Bang Sue – Tha Phra
Future Projects
➢ To Operate Commercial Development (To be negotiated with MRTA)
Purple Line Bang Yai-Bang Sue
CD projects outside MRT
➢ Advertising outside MRT, ie. Expressway.➢ Retails business➢ Telecommunications
12
BEM : Financial Highlights
Consolidated (Unit : MB.) 2017 2016 %CHANGE
Revenue :-
Revenue from Expressway business 9,957 9,301 7.05%
Revenue from Rail business 4,521 3,230 39.97%
Revenue from Commercial development business 675 573 17.80%
Others 240 129 86.05%
Total Revenue 15,393 13,233 16.32%
Expense :-
Costs of Expressway business (1,735) (1,512) 14.75%
Costs of Rail business (3,353) (2,371) 41.42%
Costs of Commercial development business (177) (200) -11.50%
Amortization – Expressway (3,695) (3,471) 6.45%
Amortization – Rail (246) (440) -44.09%
Selling (95) (93) 2.15%
Administration (1,049) (891) 17.73%
Profit before share of profit from investments in associates,financial cost and income tax expenses
5,043 4,255 18.52%
Share of profit (loss) from investments in associates 406 347 17.00%
EBIT 5,449 4,602 18.41%
Financial Cost (1,611) (1,426) 12.97%
Income tax expenses (696) (563) 23.62%
Profit for the Period 3,142 2,613 20.24%
Profit/(Loss) Attributable to Non-controlling interests 19 7 171.43%
Profit Attributable to Equity Holders of the Company 3,123 2,606 19.84%
EPS (Bath)DPS (Baht)
0.200.13
0.170.11
13
BEM : Financial Highlights
Consolidated (Unit : MB.) Q3/2018 Q3/2017 %CHANGE 9M/2018 9M/2017 %CHANGE
Revenue :-
Expressway Business Revenue 2,561 2,550 0.4% 7,576 7,439 1.84%
Rail Business Revenue 1,218 1,170 4.1% 3,562 3,400 4.8%
Commercial Development Revenue 167 179 -6.7% 493 497 -0.8%
Others 335 27 1140.7% 872 95 817.9%
Total Revenue 4,281 3,926 9.04% 12,503 11,431 9.4%
Expense :-
Costs of Expressway Business (461) (432) 6.7% (1,350) (1,290) 4.7%
Costs of Rail Business (881) (840) 4.9% (2,630) (2,533) 3.8%
Costs of commercial development (45) (43) 4.7% (129) (139) -7.2%
Amortization – Expressway (958) (945) 1.4% (2,828) (2,750) 2.8%
Amortization – Rail (48) (44) 9.1% (139) (201) -30.8%
Selling (24) (25) -4.0% (75) (61) 23.0%
Administration (252) (226) 11.5% (809) (729) 11.0%
Profit before share of profit from investments in associates, financial cost and income tax expenses 1,612 1,371 17.6% 4,543 3,728 21.9%
Share of profit (loss) from investments in associates 133 139 -4.3% 339 304 11.5%
EBIT 1,745 1,510 15.6% 4,882 4,032 21.1%
Financial Cost (420) (365) 15.07% (1,444) (1,124) 28.5%
Income tax expenses (233) (199) 17.09% (625) (530) 17.9%
Profit for the Period 1,092 946 15.43% 2,813 2,378 18.3%
Profit/(Loss) Attributable to Non-controlling interests 3 6 -50% 9 13 -30.8%
Profit Attributable to Equity Holders of the Company 1,089 940 15.85% 2,804 2,365 18.6%EPS (Baht)DPS (Baht)
0.07-
0.06-
0.180.06
0.150.06
BEM : Financial Ratio Q3/2018 Q3/2017 Q3/2018 Q3/2017
Net Profit Margin 26.12% 23.94% Net IBD to Equity 1.30 1.38
14
Appendix (A)
15
Total Traffic Volume
1,000.00
1,050.00
1,100.00
1,150.00
1,200.00
1,250.00
1,300.00
2019 1,239.58 1,239.58
2018 1,206.51 1,266.04 1,269.04 1,154.27 1,213.29 1,242.35 1,205.30 1,251.22 1227.88 1220.11 1283.91 1224.67 1,230.13 1.33%
2017 1,181.32 1,229.06 1,255.82 1,144.81 1,196.64 1,240.76 1,201.12 1,241.68 1,245.94 1,152.97 1,264.21 1,216.84 1,214.03 2.93%
2016 1,142.40 1,179.80 1,217.11 1,103.63 1,129.92 1,178.37 1,153.70 1,250.26 1,218.43 1,174.29 1,228.76 1,201.85 1,179.50 3.32%
2015 1,111.19 1,176.00 1,176.01 1,071.98 1,115.40 1,134.17 1,137.05 1,136.33 1,158.60 1,150.01 1,191.13 1,144.46 1,141.60 3.44%
%YoY 19/18 2.74%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YoY
(Thousand trips / Day)
2019
2017
2015
2016
SOE has been operated since August 22, 2016
2018
16
Total Toll Revenue
20.00
22.00
24.00
26.00
28.00
30.00
2019 28.17 28.17
2018 27.25 28.63 28.73 26.12 27.42 28.12 27.33 28.39 27.8 27.65 29.18 27.91 27.87 2.18%
2017 26.33 27.43 28.06 25.61 26.81 27.83 27.02 28.04 28.11 25.99 28.62 27.52 27.28 7.02%
2016 24.23 25.02 25.84 23.48 23.96 24.97 24.52 25.92 26.82 25.97 27.32 26.81 25.49 5.57%
2015 23.48 24.86 24.87 22.71 23.58 23.93 24.01 24.03 24.45 24.31 25.26 24.31 24.14 3.85%
%YoY 19/18 3.34%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YoY
(Million Baht / Day)
2016
2019
2015
2017
2018
17
SOE has been operated since August 22, 2016
Expressway : Total Traffic Volume
YoY Jan-19 Jan-18 Change %
FES 372,498 370,408 2,090 0.56%
Sector A 225,113 223,728 1,385 0.62%
Sector B 99,209 96,659 2,550 2.64%
Urban 696,820 690,795 6,025 0.87%
Sector C 188,158 180,767 7,391 4.09%
Sector D 204,601 196,296 8,305 4.23%
SOE* 61,042 53,362 7,680 14.39%
Sub urban 453,801 430,425 23,376 5.43%
Total BEM 1,150,621 1,121,220 29,401 2.62%
NECL (C+) 88,957 85,291 3,666 4.30%
Total BEM+NECL 1,239,578 1,206,511 33,067 2.74%
Trips/Day Trips/Day
YTD 1M-19 1M-18 Change %
FES 372,498 370,408 2,090 0.56%
Sector A 225,113 223,728 1,385 0.62%
Sector B 99,209 96,659 2,550 2.64%
Urban 696,820 690,795 6,025 0.87%
Sector C 188,158 180,767 7,391 4.09%
Sector D 204,601 196,296 8,305 4.23%
SOE* 61,042 53,362 7,680 14.39%
Sub urban 453,801 430,425 23,376 5.43%
Total BEM 1,150,621 1,121,220 29,401 2.62%
NECL (C+) 88,957 85,291 3,666 4.30%
Total BEM+NECL 1,239,578 1,206,511 33,067 2.74%
SOE is operated on August 22, 2016
18
Expressway : Total Traffic Volume
YoY Q3-18 Q3-17 Change %
FES 372,342 377,542 -5,200 -1.38%
Sector A 224,361 228,587 -4,226 -1.85%
Sector B 97,845 100,497 -2,652 -2.64%
Urban 694,548 706,625 -12,078 -1.71%
Sector C 185,438 185,490 -52 -0.03%
Sector D 200,633 195,927 4,706 2.40%
SOE* 56,277 53,140 3,137 5.90%
Sub urban 442,348 434,557 7,791 1.79%
Total BEM 1,136,896 1,141,183 -4,287 -0.38%
NECL (C+) 91,243 88,221 3,022 3.43%
Total BEM+NECL 1,228,138 1,229,404 -1,265 -0.10%
Trips/Day Trips/Day
SOE is operated on August 22, 2016
YTD 2017 2016 Change %
FES 373,215 376,000 -2,785 -0.74%
Sector A 226,693 224,118 2,575 1.15%
Sector B 99,182 101,580 -2,398 -2.36%
Urban 699,091 701,699 -2,608 -0.37%
Sector C 184,669 193,069 -8,400 -4.35%
Sector D 194,177 186,638 7,539 4.04%
SOE* 49,946 39,369 10,577 26.87%
Sub urban 428,792 395,673 33,119 8.37%
Total BEM 1,127,883 1,097,372 30,511 2.78%
NECL (C+) 86,153 82,128 4,025 4.90%
Total BEM+NECL 1,214,036 1,179,500 34,536 2.93%
19
Expressway : Total Toll Revenue
YoY Jan-19 Jan-18 Change %
FES 7,547,951 7,517,472 30,479 0.41%
Sector A 4,436,151 4,406,591 29,560 0.67%
Sector B 2,001,885 1,951,207 50,678 2.60%
Urban 13,985,987 13,875,270 110,717 0.80%
Sector C 2,520,772 2,427,308 93,464 3.85%
Sector D 4,876,990 4,679,762 197,228 4.21%
SOE* 2,869,233 2,505,256 363,977 14.53%
Sub urban 10,266,995 9,612,326 654,669 6.81%
Total BEM 24,252,982 23,487,596 765,386 3.26%
NECL (C+) 3,913,054 3,767,020 146,034 3.88%
Total BEM+NECL 28,166,036 27,254,616 911,420 3.34%
YTD 1M-19 1M-18 Change %
FES 7,547,951 7,517,472 30,479 0.41%
Sector A 4,436,151 4,406,591 29,560 0.67%
Sector B 2,001,885 1,951,207 50,678 2.60%
Urban 13,985,987 13,875,270 110,717 0.80%
Sector C 2,520,772 2,427,308 93,464 3.85%
Sector D 4,876,990 4,679,762 197,228 4.21%
SOE* 2,869,233 2,505,256 363,977 14.53%
Sub urban 10,266,995 9,612,326 654,669 6.81%
Total BEM 24,252,982 23,487,596 765,386 3.26%
NECL (C+) 3,913,054 3,767,020 146,034 3.88%
Total BEM+NECL 28,166,036 27,254,616 911,420 3.34%
(Baht / Day) (Baht / Day)
SOE is operated on August 22, 2016
20
Expressway : Total Toll Revenue
YoY Q3-18 Q3-17 Change %
FES 7,548,124 7,662,780 -114,656 -1.50%
Sector A 4,417,736 4,503,680 -85,944 -1.91%
Sector B 1,973,288 2,028,747 -55,459 -2.73%
Urban 13,939,149 14,195,207 -256,059 -1.80%
Sector C 2,487,340 2,485,526 1,814 0.07%
Sector D 4,777,313 4,670,525 106,787 2.29%
SOE* 2,644,080 2,494,301 149,779 6.00%
Sub urban 9,908,733 9,650,353 258,380 2.68%
Total BEM 23,847,882 23,845,560 2,322 0.01%
NECL (C+) 3,993,581 3,875,017 118,564 3.06%
Total BEM+NECL 27,841,463 27,720,577 120,886 0.44%
(Baht / Day) (Baht / Day)
SOE is operated on August 22, 2016
YTD 2017 2016 Change %
FES 7,574,658 7,629,770 -55,112 -0.72%
Sector A 4,464,399 4,400,068 64,331 1.46%
Sector B 2,001,763 2,048,819 -47,056 -2.30%
Urban 14,040,820 14,078,657 -37,837 -0.27%
Sector C 2,475,313 2,597,049 -121,736 -4.69%
Sector D 4,627,796 4,449,309 178,487 4.01%
SOE* 2,344,465 1,847,320 497,146 26.91%
Sub urban 9,447,575 7,795,461 1,652,113 21.19%
Total BEM 23,488,395 21,874,118 1,614,277 7.38%
NECL (C+) 3,789,685 3,614,291 175,394 4.85%
Total BEM+NECL 27,278,079 25,488,409 1,789,670 7.02%
21
Metro : Average Daily Ridership : Blue Line (BL)
200.00
220.00
240.00
260.00
280.00
300.00
320.00
340.00
2019 316 316
2018 299 324 315 278 295 316 301 331 325 321 343 292 312 5.50%
2017 273 299 308 266 274 303 282 313 319 300 322 282 295 7.76%
2016 256 278 283 248 245 279 269 286 294 291 290 264 274 5.12%
2015 245 269 269 238 239 269 266 261 275 277 273 245 260 2.79%
% YOY 19/18 5.96%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YOY
(Thousand trips / Day)
2019
2015
2016
20172018
22
Metro : Average Daily Revenue : Blue Line (BL)
5.00
5.50
6.00
6.50
7.00
7.50
8.00
8.50
9.00
2019 8.04 8.04
2018 7.56 8.17 7.95 7.06 7.51 8.07 7.61 8.34 8.19 8.1 8.69 7.39 7.87 7.00%
2017 6.91 7.48 7.59 6.75 6.81 7.40 7.07 7.80 7.97 7.39 8.21 7.16 7.37 8.49%
2016 6.42 6.95 6.93 6.24 6.17 6.85 6.69 7.10 7.18 7.37 6.99 6.68 6.80 5.47%
2015 6.19 6.74 6.71 6.02 5.91 6.53 6.33 6.47 6.84 6.93 6.75 5.94 6.44 5.20%
%YoY 19/18 6.28%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. %YoY
(Million Baht / Day)
2015
2016
20172018
23
2019
Metro : Average Daily Ridership & Revenue: Blue Line (BL)
Trips / Day
YoY Jan-19 Jan-18 Change %
BL 316,850 299,019 17,831 5.96%
YoY 1M-19 1M-18 Change %
BL 8,036,632 7,561,559 475,073 6.28%
YoY Q3/18 Q3/17 Change %
BL 319,088 305,050 14,038 4.60%
YoY 2017 2016 Change %
BL 295,302 273,637 21,665 7.92%
Trips / Day
Baht / Day
YoY Jan-19 Jan-18 Change %
BL 316,850 299,019 17,831 5.96%
YoY 1M-19 1M-18 Change %
BL 8,036,632 7,561,559 475,073 6.28%
YoY Q3/18 Q3/17 Change %
BL 8,061,024 7,607,840 453,184 5.96%
YoY 2017 2016 Change %
BL 7,375,055 6,793,173 581,882 8.57%
Baht / Day
Ridership Fare Box Revenue
24
DisclaimerThe information in this presentation has been prepared by Bangkok Expressway and Metro Public Company Limited (BEM) and is general background information about BEM’s activities current as at date of this presentation. This presentation is not intended to provide the basis of 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. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. All securities or instrument transactions 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 a promise or representation of BEM as to the future.
Thank youFor further inquiry
www.bemplc.co.th
Email : ir@bemplc.co.th
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