1
Q2/2019 & H1/2019
Opportunity Day Presentation
2 222
3 3
Revenues from sales and services
1,693
2,5502,800 2,808
3,021
1,323 1,298
0
500
1,000
1,500
2,000
2,500
3,000
3,500
2014 2015 2016 2017 2018 H1/18 H1/19
MB.
Key Highlights :
H1/19 Revenues from sales and services amount of 1,298 MB.,
decreased 25.22 MB. or 1.91%, when compared with the same
period of last year, since the main factor to a slowdown in market
conditions and related industries.
Usually the seasonal of sales in the second half is higher than the
first half.
642 681769
929
0
250
500
750
1,000
Q1/18 Q2/18 Q3/18 Q4/18
642 681692 606
Q1/18 Q1/19 Q2/18 Q2/19
MB.
- 25.22 MB., (1.91%)
QOQ : -86.40 MB., (12.48%)
YOY : -74.99 MB., (11.02%)
4
Revenues from sales and services
68% 64% 71%62% 65% 70%
59%
18%15%
16%
15% 13%13%
10%
15%14%
11%20% 22% 17%
31%
7% 3% 3%
0%
20%
40%
60%
80%
100%
2014 2015 2016 2017 2018 H1-18 H1-19
Manufacturing Product Supplied and Distributed Products
Services Power Plant Demolition
59%
10%
31%
1,298 MB.
%
Manufacturing
Product
Services
Supplied and
Distributed Product
760 MB.
135 MB.
402 MB.
H1/2019
5
Key Highlights :
The revenue from service group increased 171 MB. or by 43%, due to the expansion of the integrated engineering service, resulting in the increase
in new coming of various project, the company also has more completed project during this period.
The revenue of manufacturer and distributor group and revenue of supplied and distributed products group decrease by 161 MB. and 35 MB.
respectively, since to the decline in customers in the data center, telecommunication and commercial building groups.
Gross Profit
383
570
704656
715
300 287
22.62% 22.35%
25.14%23.36% 23.68%
22.70% 22.08%
0.00%
10.00%
20.00%
30.00%
0
250
500
750
1,000
2014 2015 2016 2017 2018 H1/18 H1/19
151 150
201 215
0
100
200
300
Q1/18 Q2/18 Q3/18 Q4/18 Q1/18 Q1/19 Q2/18 Q2/19
MB.
151 150154 133
MB.
% GP 23.44% 22.00% 26.07% 23.11% 22.22% 21.93%23.44% 22.00%
- 13.71 MB., (4.56%)
QOQ : - 20.92 MB., (13.61%)
YOY : - 16.93 MB., (11.30%)
6
Key Highlights :
H1/19 Gross profit amount of 287 MB., decreased 13.71 MB.
or 4.56%.
The gross profit margin rate slightly decrease, when compared
with the same period of last year.
SG&A Expenses
MB.
226
303
361 346379
178 184
13.24%11.83%
12.83% 12.27% 12.47%13.39%
14.11%
0.00%
5.00%
10.00%
15.00%
20.00%
0
200
400
600
2014 2015 2016 2017 2018 H1/18 H1/19
89 9099 102
0
40
80
120
Q1/18 Q2/18 Q3/18 Q4/18
89 9092 91
% to total
revenue13.71% 13.09% 12.75% 10.92% 13.31% 15.02%13.71% 13.09%
Q1/18 Q1/19 Q2/18 Q2/19
+ 5.57 MB., 3.12%
QOQ : -1.04 MB., (1.13%)
YOY : +1.87 MB., 2.09%
7
Key Highlights :
H1/2019 SG&A amount of 184 MB., increased 5.57MB. or
3.12%, the SG&A rate per total revenue increased from 13.39
% to 14.11%, when compared with the same period last year.
The increase in administrative expenses is mainly concerned
to reserve for employee benefits of 5.08 million baht
according to new labor law and increased of allowance
doubtful accounts of 4.58 million baht.
% / total
revenue
MB.
MB.
Key Highlights :
H1/19 Net profit amount of 87 MB., decreased 18.38 MB. or
17.38%, the Net profit rate decreased from 7.94% to
6.70%,when compared with the same period of last year.
Which the net profit margin was reduced as a result of the
slowdown in market conditions and related industries, resulting a
drop in sales in during the period, including of reserve for
employee according to new labor law and increased of
allowance doubtful accounts
114
207
288253
285
10687
6.67%
8.07%
10.24%
8.99% 9.39%
7.94%
6.70%
0.00%
3.00%
6.00%
9.00%
12.00%
0
100
200
300
400
2014 2015 2016 2017 2018 H1/18 H1/19
54 52
8594
0
30
60
90
120
Q1/18 Q2/18 Q3/18 Q4/18
54 525038
% NP 8.29% 7.61% 11.04% 10.09% 7.10% 6.20%8.29% 7.61%
Q1/18 Q1/19 Q2/18 Q2/19
Net Profit
MB.
- 18.38 MB., (17.38%)
QOQ : -11.90 MB., (23.98%)
YOY : -14.34 MB., (27.55%)
8
Financial Position
MB.
369 276 19
249 192
588 502
777
635
432
45
52 47 61
44
0
200
400
600
800
1,000
1,200
1,400
2015 2016 2017 2018 H1/19
Loan AP Other
1,002
830 843
637 717 823 1029 800
864 730 737741
614
604 668 678655
646
152 135 104122
112
0
500
1,000
1,500
2,000
2,500
2015 2016 2017 2018 H1/19
Cash+AR Inventory PP&E Other
2,258 2,250 2,342
MB.
2,173
667
1,2561,421
1,5001,602
1,506
0
300
600
900
1,200
1,500
2015 2016 2017 2018 H1/19
2,547
945
MB.
Assets Liabilities
Shareholders’ Equity
9
Key Highlights :
H1/19 the Significant changes as follows ;
- Trade and other receivables-net, amounting to 581.01 MB., a decrease of 194.48 MB., due
to a drop in sales in during the period and the company has received more debt repayment
on schedule..
- Inventories-net of 562.58 MB., a decrease of 126.29 MB., due to the inventory control
policy by reducing purchase volume and has more efficiency of the company's supply
chain system.
- Bank overdrafts and short-term loans from financial institutions amounting to 188.33 MB.,
a decrease of 51.67 MB.
- Trade and other current payables amounting to 431.87 MB., a decrease of 203.18 MB.
- Shareholders’ Equity decreased 96.56 MB., due to during the period The Company had
operating profit 87.52 MB. and the dividend paid in amount of 181.50 MB.
Financial Ratios
Return On Assets (ROA)Return On Equity (ROE)
1,992
2,256 2,296 2,445
2,234 2,196
280 357 320 352 294 330
14.06%
15.84%
13.92% 14.40%13.14%
15.05%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
18.00%
-
800
1,600
2,400
3,200
2015 2016 2017 2018 H1/18 H1/19
Asset EBIT ROA
Unit : Million Thai Baht
934
1,344 1,470
1,561 1,407 1,478
207 288 253 285 235 267
22.13% 21.44%
17.24%18.26%
16.71%18.05%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
-
800
1,600
2,400
2015 2016 2017 2018 H1/18 H1/19
Shareholders's Equity Net profit ROE
Unit : Million Thai Baht
10
Financial Ratios
1,002 830 843
945 792
667
1,257 1,432 1,508 1,602
1,435 1,506
0.80
0.58 0.56 0.59 0.55
0.44
- 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 0.55 0.60 0.65 0.70 0.75 0.80 0.85
-
600
1,200
1,800
2,400
3,000
2015 2016 2017 2018 H1/18 H1/19
Liabilites Shareholders'Equity D/E Rate
Debt to Equity (D/E)
Unit : Million Thai Baht
11
24 12
Products and Services
13
Products and Services
14
Products and Services
15
Products and Services
16
Products and Services
17
Products and Services
18
Customers & Channels
19
35%
31%
27%
7%
M and E
Contractor
General Contractor
End User
Trader and System
Integrator
H1/2019
1,298 MB.
Customer Segment Recap H1/2019
M and EContractor
GeneralContractor
End UserTrader and
SystemIntegrator
H1/2018 35% 28% 25% 12%
H1/2019 31% 35% 27% 7%
35%
28%25%
12%
31%
35%
27%
7%
0%
5%
10%
15%
20%
25%
30%
35%
40%
H1/2018 H1/2019
% Proportion
20
Market Segment Recap H1/2019
Infrastructure&Power
GeneratingPlant
Industry
GovernmentOffice &
EducationCenter
CommercialBuilding
ResidentialHealth Care& Hospital
Data center &Telecommuni
cationOthers
H1/2018 24% 15% 16% 16% 10% 9% 10% 0%
H1/2019 23% 19% 16% 13% 12% 10% 6% 1%
24%
15%16% 16%
10%9%
10%
0%
23%
19%
16%
13%12%
10%
6%
1%
0%
5%
10%
15%
20%
25%
30%
H1/2018 H1/2019
% Proportion
23%
19%
16% 13%
12%
10%
6%
Industry
Government Office
& Education Center
Data center &
TelecommunicationInfrastructure
& Power Plant
Commercial
Building
Residential
Other
Health Care
and Hospital
1,298
MB.
H1/2019
1%
21
Highlight Project H1/2019
22
Renewable & Conservation
Infrastructure
Power Plant / Utility
Ratchaburi Electricity Generating
Thammasat University
PEA
AOT ; Suvarnabhumi
Department of Airport ; Betong, Trang, ect.
PEA Substation ; Nam Yuen, Buriram, Nong Muang
Gulf Chana Green Biomass
Highlight Project H1/2019
23
Telecommunication & Data center
Industry
Health Care and Hospital
The Comptroller General’s Department (CGD)
True
Thai Oil Thai Food
Panjapol
Ramathibodi, Vajira, Siriraj, Bangkok, MaharatNakhon Ratchasima, etc.
Commercial Building
Robinson, Big C
Samyan Mitrtown
The PARQ
Activities & Awards
24
1210 2625
26
Business Opportunity
Investment and Business Directions
Joint Venture Consortium Expansion of the
company’s subsidiary
Smart Control Automatic Control System Energy Conservation and
Renewable Energy Maintenance and
Engineering System as the Integrated Solution
New channels New market New Distributor
27
Joint Venture Consortium Expansion of the
Company’s Subsidiary
Smart Panel MDB Care on Cloud
Monitoring & Service Care Equipment related to the
Energy Conservation and Renewable Energy
New Channels New Market New Distributor
Rolling Backlog
55% 16%
29%
2,029MB.
55%
16%
29%
Manufacturing Product
1,117 MB.
Supplied & Distributed Product331 MB.
Services
581 MB.66% 55% 50% 52%
18% 20% 19% 11%16%25% 31% 37%
0
500
1000
1500
2000
2500
Q4-15 Q4-16 Q4-17 Q4-18Manufacturing Product Supplied & Distributed Product Services
MB.
1,425
1,805 1,9122,109
Backlog as of Aug 31, 2019
28
Disclaimers
This presentation includes forward-looking statements that are subject to risks and uncertainties, including those pertaining to the
anticipated benefits to be realized from the proposals described herein. This presentation contains a number of forward-looking
statements including, in particular, statements about future events, future financial performance, plans, strategies, expectations, prospects,
competitive environment, regulation and supply and demand.
ASEFA has based these forward-looking statements on its views with respect to future events and financial performance. Actual financial
performance of the entities described herein could differ materially from that projected in the forward-looking statements due to the
inherent uncertainty of estimates, forecasts and projections, and financial performance may be better or worse than anticipated. Given
these uncertainties, readers should not put undue reliance on any forward-looking statements.
Forward-looking statements represent estimates and assumptions only as of the date that they were made. The information contained in
this presentation is subject to change without notice and ASEFA does not undertake any duty to update the forward-looking statements,
and the estimates and assumptions associated with them, except to the extent required by applicable laws and regulations.
29
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