Operations Financial Recent Update. The largest privately owned tap water producer in Thailand

Transcription

1 Thai Tap Water Supply Public Company Limited 1Q1010 Performance 10 May 2010

2 1Q10 Performance Operations Financial Recent Update 2

3 Sales Volume (daily average) PTW 1Q10 increase 2.9% QoQ, 5.4% YoY TTW 1Q10 increase 2.7% QoQ, 11.9% YoY 3

4 Sales Volume (total sales) (28.5 million m 3 ) (30.0 million m 3 ) (1.5 million m 3 ) 4

5 1Q10 Performance Operations Financial Recent Update 5

6 TTW Consolidated - 1Q10 (Unit : mil.bt.) 1Q10 4Q09 1Q09 %QoQ %YoY Sale Vol. (mil.m3) % 11.5% Total Revenues 1, , % 0.5% 11.7% Cost of Sales % -2.7% SG&A % 20.0% 0% Interest Expense % -21.7% Income Tax % n/a Total Expense % 2.2% Net Profit % 68.3% 6

7 TTW - Revenue and Profit Revenue exclude dividend from PTW 294 mil. Bt. and 312 mil. Bt. in 4Q09 and 1Q10, respectively Revenue is 707 mil.bt., +2.8% QoQ, and +14.3% YoY mainly due to the increase in Sale&Service Revenue 2.7% QoQ and 9.7% YoY Net Profit % QoQ, Q, and % YoY mainly due to the decreased in SG&A 42.9% QoQ or 25.6 mil.bt., the decreased in Cost of Sales 10.1% QoQ or 18.1 mil.bt., 5.5% YoY or 9.4 mil.bt., and the decreased in Interest Expense 18.2% YoY or 15.4 mil.bt. 7

8 TTW - GPM, NPM, EBIT Margin, and EBITDA Margin 8

9 TTW - Cost Breakdown Others Land lease Chemical Electricity Depreciation Chemical Cost decrease 42.5% QoQ and 13.0% YoY due to better raw water quality Land lease decrease 59% QoQ and YoY due to a change in payment period 9

10 BIE - Revenue and Profit Net Profit +6.3% QoQ due to the decrease in SG&A 31.0% and Interest Expense 7.4% QoQ, and the increase in Amortisation 34.3% 10

11 BIE - GPM, NPM, EBIT Margin, and EBITDA Margin 11

12 BIE - Cost Breakdown Others Chemical Electricity Depreciation Chemical Cost decrease 37.1% QoQ due to better raw water quality Other Cost decrease 19.7% QoQ due to the end period of test run 12

13 PTW - Revenue and Profit Revenue -6.9% QoQ, and -2.2% YoY due to the decrease in water tariff 4.4% from Bt. to Bt., and the changes in PTW structure. Net Profit +77.6% QoQ, and -10.4% YoY mainly due to the one-time expense 60 mil. Bt. prepayment fee on refinancing in 4Q09, and the decrease in Interest Expense 19.2% QoQ and 48.3% YoY 13

14 PTW - GPM, NPM, EBIT and EBITDA Margin 14

15 PTW - Cost Breakdown Others Chemical Electricity Depreciation Chemical Cost decrease 5.5% QoQ and 44.0% YoY due to better raw water quality and the decrease in chemical price. Other Cost decrease 35.3% QoQ and 40.3% YoY due to the changes in PTW s management structure 15

16 TTW Consolidated - 1Q10 Revenue & Profit Contribution Revenue 1,069 mil. Bt. Profit 517 mil. Bt. 16

17 1Q10 Performance Operations Financial Recent Update 17

18 Recent Update Started selling water to Samud Sakhorn Hospital in March Plant expansion construction is now 80% complete 18

19 CPI update - April 2010 CPI Central +3.42% YoY CPI General +2.96% YoY 19

20 Thai Tap Water Supply Public Company Limited Thank You Address: 30/10 Moo 12 Buddha Monthon 5 Road, Raiking, Sam Pran, Nakhorn Pathom 73210, Tel.: , , Ext. 209, Fax: , Website: ir@thaitap.com 20