opportunity day on november 24,...
TRANSCRIPT
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Tirathai Public Company Limited
Opportunity Day on November 24, 2017
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Content
• Company Profile
• Operating Result of Q3 2017
• Outlook 2017
• Q &A
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Company Profile
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TIRATHAI & It’s subsidiary
TIRATHAI Public company Limited
TIRATHAI E&S Co.,ltd.Distribution , installation maintenance service of electrical power equipment
Manufacture for Tank and fabricate steel , EPC Conveyor System
JV L.D.S - N.D.POperation and Maintenance of Conveyor System of HongsaPower Co. Ltd, (HPC), Laos PDR
THAIFINS Co.,ltd.Manufacture for Transformer’s fins and Tank support to Tirathai Plc.,ltd.
L.D.S. METAL WORK Co.,ltd.
100% 100% 92.50%
20% 80%
Manufacturer of Distribution and Power Transformers and Repair Service
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II.
Non-transformer• Arial Derrick Crane• Steel Fabrication• Constructions• Bulk Handling System• Operation and Maintenance Conveyor Belt
System
• Distribution Transformer
• Power Transformer• Transformer Service • Transformer Repair
Products of TirathaiGroup
I.Transformer
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I. Transformer Product &
Service
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Distribution Transformer
Power Transformer
Special Transformer
Our Main Customers
1. Utilities(PEA,MEA,EGAT)
2. Private2.1 Steel industry2.2 Sugar industry2.3 Power Plant2.4 Energy industry2.5 International
Contractors2.6 Others
3. Export(ASIA+SE.ASIA)
16%
58%
26%
Utilites Private Export
Transformer Revenue 2016 by Customer
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II. Non Transformer Products
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• Arial Crane Device and Digger Derick Unit
• Steel Fabrication
• Construction• EPC Conveyor Belt
System • Operating and
Maintenance Service of Conveyor Belt System
72%
28%
Transformer Non transformer
Total Revenue 2016by Product Group
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TRT’s Key Strength
• Experience management team with more than 25 years in the Transformer business
• Engineering-to-Order • High Quality Products and Services• Top three of manufacturer of 300 MVA 230 kV Power Transformer
in Thailand• Well recognize as a successful player in bulk handling system
including a provider of Operating & Maintenance Service for power plant, mining and related industry
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Operating Result of Q3 2017
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Consolidated financial Statements
Unit: Million Baht 2014 2015 2016 Q3 2017 (9M)
Total Revenue 2,163.26 2,264.90 2,577.33 1,650.00
Revenue from Sales & Service 2,131.63 2,223.97 2,536.52 1,635.04
Gross Profit 508.29 411.84 661.01 261.28EBITDA 170.24 44.87 192.89 (94.09)EBIT 66.59 (6.81) 125.81 (154.21)
Net Profit/(Net Loss) attributable to
equity holders48.64 (45.97) 61.22 (159.92)
Total Assets 2,653.19 3,024.84 3,303.62 3,048.47Total Liabilities 1,478.97 1,947.70 2,176.83 2,121.63Shareholders' Equity 1,174.22 1,077.14 1,126.79 926.84Financial RatioGross Profit Margin (%) 23.85% 18.52% 26.06% 15.98%
Net Profit (Loss)Margin (%) 2.24% (2.57%) 2.38% (9.69%)
Return on Asset (%) 1.85% (2.05%) 1.87% -Return on Equity (%) 4.10% (5.18%) 5.36% -Book Value Per Share (Par1Baht)
3.81 3.50 3.66 3.01
Earning Per Share 0.16 (1.15) 0.20 (0.51)Dividend Per Share 0.10 0.05 0.13 -
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435 484391
559404
249
419
139 99 261
168
205
209
150
0
250
500
750
Q1' 16 Q2' 16 Q3' 16 Q4' 16 Q1' 17 Q2'17 Q3' 17
Bt. Mil
Transformer Non transformer
9M TO 30.9.2017 Revenues
Transformer66%
Non-Transformer34%
Total revenues QoQ
QoQ Decreased 12%
652569
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1,6431,868
1,3101,072
581
667
499563
0
500
1,000
1,500
2,000
2,500
2015 2016 9 M to 30/9/2016 9 M to 30/9/2017
Bt. Mil
Transformer Non transformer
2,2642,577
1,635
1,809
Total Revenues YoY and
Q3 (9 M)
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Gross Profit Margin by products
YoY and Q3 (9 M)
13
20%25%
22%
12%15%
47%
37%
24%
2015 2016 9M TO 30/9/2016 9M TO 30/9/2017
Transformer Non transformer
• A lower gross profit margin of transformer group for 9 Months to 30/9/2017 compared to the same period last year, due to the impact of the postponement of using the utilities budget, caused high price competition, especially in the local market.
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Total Gross Profit (GP) VS Net
Profit Margin (NP) VS SG&A
YoY and Q3 (9 Months)
(Consolidated)
14
19%
26% 26%
16%
-2%
2% 3%
-10%
21% 22%24% 25%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
2015 2016 9 Months to30.9.16
9 Months to30.9.17
GP NP SG&A
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Outlook 2017
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Structure of Incomes by
Group Customer2015 2016 Q3 2016
(9M)Q3 2017
(9M)
Transformer 1. Gov+Local 937 1,306 1,019 676
2.Export 650 479 232 348
3. Transformer Service
56 82 61 48
Total Transformer
1,643 1,867 1,312 1,072
Non-Transformer
4. Steel Structure & Fabricate
370 161 140 313
5. Distributing Digger/Arial truck
99 209 171 23
6. Operating & Maintenance
111 299 190 227
7. Others 41 41 36 15
Total non-transformer
621 710 537 579
Total 2,264 2,577 1,849 1,65016
1,643 1,867
1,310 1,072
621 710 537 579
-
500
1,000
1,500
2,000
2015 2016 Q3 2016(9M)
Q3 2017(9M)
Transformer Non-Transformer
Million
73% 73% 72%66%
27% 27% 28% 34%
0%
10%
20%
30%
40%
50%
60%
70%
80%
2015 2016 Q3 2016(9M)
Q3 2017(9M)
Transformer Non-Transformer
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TRT Group Backlog As of 30.09.2017
Group Customer Total Backlog
(1)+(2)+(3)
Delivery in 2017 (1)
Delivery in 2018 (2)
Delivery in 2019 (3)
Transformer 1. GOV+Local 1,412 623 760 29
2. Export 102 72 30 -
3.Transformer Service
- - - -
Total transformer 1,514 695 790 29
Non-Transformer
4. Steel Structure & Fabricate
72 61 11 -
5. Distributing Derrick/Arial truck
71 71 - -
6. Operating & Maintenance
704 104 300 300
Total non-transformer
847 236 311 300
Total 2,361 931 1,101 329
Transformer 64%
Non-Transformer
36%
Transformer
Non-transformer
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Bids and Quotations in Process As of 31 October 2017
Customer M’ Baht
1.MEA 1,100
2.PEA 1,300
3.EGAT 1,100
4.Local 2,100
5.Export 1,320
6. Transformer Service 30
7. Distributing Derrick/Arial crane 1,460
8. Steel Structure & Fabricate 429
Total 8,839
** Expect to receive the above orders approximately 20-25%
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