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˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

Jul 31, 2020

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Page 1: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

�������������� ����������������� �������������� ����������������ก����� ���������� ����������������ก����� ���

����� ����������������� ����������������

���!�ก�" �������������������

������ � 21 �ก���� �.�. 2551

Page 2: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

HousingHousingContractorContractorIndustrialIndustrialCementCementSteelSteel

Page 3: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

3������ � 21 �ก���� �.�. 2551

RevenueRevenueHousing :Housing :

27,911

0

20,000

40,000

60,000

80,000

100,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 4: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

4������ � 21 �ก���� �.�. 2551

Norm ProfitNorm ProfitHousing :Housing :

2,904

-15,000

-10,000

-5,000

0

5,000

10,000

15,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 5: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

5������ � 21 �ก���� �.�. 2551

Norm MarginNorm MarginHousing :Housing :

10.4%

-80%

-60%

-40%

-20%

0%

20%

40%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 6: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

6������ � 21 �ก���� �.�. 2551

Gross MarginGross MarginHousing :Housing :

31.2%

0%

10%

20%

30%

40%

50%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 7: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

7������ � 21 �ก���� �.�. 2551

SG&A/SaleSG&A/SaleHousing :Housing :

17.5%

0%

10%

20%

30%

40%

50%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 8: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

8������ � 21 �ก���� �.�. 2551

EBITDA MarginEBITDA MarginHousing :Housing :

19.8%

-10%

0%

10%

20%

30%

40%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 9: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

9������ � 21 �ก���� �.�. 2551

EBITDA/IEEBITDA/IEHousing :Housing :

9.01

-30

-20

-10

0

10

20

30

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 10: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

10������ � 21 �ก���� �.�. 2551

Net DebtNet DebtHousing :Housing :

81,315

0

20,000

40,000

60,000

80,000

100,000

120,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 11: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

11������ � 21 �ก���� �.�. 2551

Net EquityNet EquityHousing :Housing :

137,932

0

30,000

60,000

90,000

120,000

150,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 12: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

12������ � 21 �ก���� �.�. 2551

Net GearingNet GearingHousing :Housing :

0.59

0

2

4

6

8

10

12

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 13: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

13������ � 21 �ก���� �.�. 2551

Presale of 15 CompaniesPresale of 15 Companies

25,65031,656 29,199

0

10,000

20,000

30,000

40,000

1Q49

2Q49

3Q49

4Q49

1Q50

2Q50

3Q50

"#��$�

Housing :Housing :

����� : ���� � ASP

Page 14: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

14������ � 21 �ก���� �.�. 2551

Backlog of 15 Companies 3Q50 Backlog of 15 Companies 3Q50 (75 Billion Baht)(75 Billion Baht)

LPN

12%

PF

5%

SIRI

21%

PS

8%

NOBLE

5%

AP

21%

OTHER

17%

SPALI

11%

Housing :Housing :

����� : ���� � ASP

Page 15: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

15������ � 21 �ก���� �.�. 2551

Backlog of 10 Companies 3Q50 Backlog of 10 Companies 3Q50 (71 Billion Baht)(71 Billion Baht)

Condominium

79%

Other

28%

Housing :Housing :

����� : ���� � ASP

Page 16: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

HousingHousingContractorContractorIndustrialIndustrialCementCementSteelSteel

Page 17: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

17������ � 21 �ก���� �.�. 2551

Contractor :Contractor : RevenueRevenue

25,895

0

20,000

40,000

60,000

80,000

100,000

120,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 18: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

18������ � 21 �ก���� �.�. 2551

Norm ProfitNorm ProfitContractor :Contractor :

338

-6,000

-4,000

-2,000

0

2,000

4,000

6,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 19: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

19������ � 21 �ก���� �.�. 2551

Norm Profit MarginNorm Profit MarginContractor :Contractor :

1.31%

-18%

-14%

-10%

-6%

-2%

2%

6%

10%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 20: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

20������ � 21 �ก���� �.�. 2551

Gross MarginGross MarginContractor :Contractor :

5.89%

0%

2%

4%

6%

8%

10%

12%

14%

16%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

����� : ���� � ASP

Page 21: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

21������ � 21 �ก���� �.�. 2551

SG&A/SaleSG&A/SaleContractor :Contractor :

3.6%

2%

4%

6%

8%

10%

12%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 22: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

22������ � 21 �ก���� �.�. 2551

EBITDA MarginEBITDA MarginContractor :Contractor :

6.59%

0%

5%

10%

15%

20%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 23: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

23������ � 21 �ก���� �.�. 2551

EBITDA/IEEBITDA/IEContractor :Contractor :

2.49

0

2

4

6

8

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 24: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

24������ � 21 �ก���� �.�. 2551

Net DebtNet DebtContractor :Contractor :

29,642

0

10,000

20,000

30,000

40,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 25: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

25������ � 21 �ก���� �.�. 2551

Net EquityNet EquityContractor :Contractor :

35,285

0

10,000

20,000

30,000

40,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 26: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

26������ � 21 �ก���� �.�. 2551

Net GearingNet GearingContractor :Contractor :

0.84

0.0

1.0

2.0

3.0

4.0

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 27: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

27������ � 21 �ก���� �.�. 2551

Backlog as of 3Q50Backlog as of 3Q50

Z[\���]�� �� �� �ITD 101,266STEC 20,761CK 22,000NWR 7,160SYNTEC 7,979PLE 22,249SEAFCO 1,290������ 182,705

Contractor :Contractor :

����� : ���� � ASP

Page 28: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

28������ � 21 �ก���� �.�. 2551

����� � ����� � ��^��� _ �������

(ก.�.) (�� �� �) �` ���ก �

���� ;'<� (����> - $��?@A - >"���B�) 41 60,968 3 - 4 DE

���� �FG�'��� ($��?@�A - (���H - $��;�) 27 52,581 6 DE

���� �(�� ($��IJK( - $��?@�A) 23 54,950 5 - 7 DE

���� 'L �� (J�AB�> - �H���IJ�() 13 14,737 4 DE

���� 'L �� (;$���� - ��M�D��ก��) 14 14,939 4 DE

���^��� 118 198,175

Mega ProjectsMega ProjectsContractor :Contractor :

����� : ��� �.�.�.

Page 29: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

HousingHousingContractorContractorIndustrialIndustrialCementCementSteelSteel

Page 30: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

30������ � 21 �ก���� �.�. 2551

Industrial :Industrial : RevenueRevenue

4,901

0

5,000

10,000

15,000

20,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 31: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

31������ � 21 �ก���� �.�. 2551

Norm ProfitNorm ProfitIndustrial :Industrial :

973

-1,000

0

1,000

2,000

3,000

4,000

5,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 32: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

32������ � 21 �ก���� �.�. 2551

Norm Profit MarginNorm Profit MarginIndustrial :Industrial :

19.9%

-30%

-20%

-10%

0%

10%

20%

30%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 33: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

33������ � 21 �ก���� �.�. 2551

Gross MarginGross MarginIndustrial :Industrial :

41.5%

20%

25%

30%

35%

40%

45%

50%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 34: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

34������ � 21 �ก���� �.�. 2551

SG&A/SaleSG&A/SaleIndustrial :Industrial :

12.5%

0%

30%

60%

90%

120%

150%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 35: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

35������ � 21 �ก���� �.�. 2551

EBITDA MarginEBITDA MarginIndustrial :Industrial :

34.5%

-60%

-40%

-20%

0%

20%

40%

60%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 36: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

36������ � 21 �ก���� �.�. 2551

EBITDA/IEEBITDA/IEIndustrial :Industrial :

6.41

-3

0

3

6

9

12

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 37: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

37������ � 21 �ก���� �.�. 2551

Net DebtNet DebtIndustrial :Industrial :

22,916

0

5,000

10,000

15,000

20,000

25,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 38: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

38������ � 21 �ก���� �.�. 2551

Net EquityNet EquityIndustrial :Industrial :

22,652

0

5,000

10,000

15,000

20,000

25,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 39: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

39������ � 21 �ก���� �.�. 2551

Net GearingNet GearingIndustrial :Industrial :

1.01

0.0

0.4

0.8

1.2

1.6

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

' (�

����� : ���� � ASP

Page 40: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

40������ � 21 �ก���� �.�. 2551

BOI SubmitBOI SubmitIndustrial :Industrial :

0

400

800

1,200

1,600

2546 2547 2548 2549 2550

0

300

600

900

1,200

�G����N���ก�� �O"�(�ก��"�M�

�G����N���ก�� ��"#��$�

����� : BOI

Page 41: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

41������ � 21 �ก���� �.�. 2551

BOI ApproveBOI ApproveIndustrial :Industrial :

0

400

800

1,200

1,600

2546 2547 2548 2549 2550

0

300

600

900

1,200

�G����N���ก�� �O"�(�ก��"�M�

�G����N���ก�� ��"#��$�

����� : BOI

Page 42: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

42������ � 21 �ก���� �.�. 2551

���c ���\�����c ���\�� 33 ��]��c� �d�e���]��c� �d�e�Industrial :Industrial :

0

200

400

600

800

1,000

AMATA ROJANA HEMRAJ

2549 9M50

J�(�� : S�(

����� : ���� � ASP

Page 43: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

HousingHousingContractorContractorIndustrialIndustrialCementCementSteelSteel

Page 44: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

44������ � 21 �ก���� �.�. 2551

Cement :Cement : RevenueRevenue

82,136

0

100,000

200,000

300,000

400,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 45: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

45������ � 21 �ก���� �.�. 2551

Norm ProfitNorm ProfitCement :Cement :

5,998

0

10,000

20,000

30,000

40,000

50,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 46: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

46������ � 21 �ก���� �.�. 2551

Norm Profit MarginNorm Profit MarginCement :Cement :

7.30%

0%

4%

8%

12%

16%

20%

24%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 47: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

47������ � 21 �ก���� �.�. 2551

Gross MarginGross MarginCement :Cement :

19.51%

10%

15%

20%

25%

30%

35%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 48: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

48������ � 21 �ก���� �.�. 2551

SG&A/SaleSG&A/SaleCement :Cement :

9.88%

6%

8%

10%

12%

14%

16%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 49: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

49������ � 21 �ก���� �.�. 2551

EBITDA MarginEBITDA MarginCement :Cement :

17.64%

14%

18%

22%

26%

30%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 50: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

50������ � 21 �ก���� �.�. 2551

EBITDA/IEEBITDA/IECement :Cement :

10.72

0

4

8

12

16

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 51: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

51������ � 21 �ก���� �.�. 2551

Net DebtNet DebtCement :Cement :

116,224

0

100,000

200,000

300,000

400,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 52: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

52������ � 21 �ก���� �.�. 2551

Net EquityNet EquityCement :Cement :

145,499

0

50,000

100,000

150,000

200,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 53: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

53������ � 21 �ก���� �.�. 2551

Net GearingNet GearingCement :Cement :

0.80

0

1

2

3

4

5

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 54: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

54������ � 21 �ก���� �.�. 2551

Domestic Cement DemandDomestic Cement Demand

����� : ������������ !�"#�

Cement :Cement :

1.8

2.2

2.6

3.0

3.4

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

"#��>�

2547 2548 2549 2550

Year 2547 2548 2549 11M49 11M50

Domestic Consumption 27.19 28.97 29.16 26.79 25.73

% change 6.5% 0.7% -3.9%

Page 55: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

55������ � 21 �ก���� �.�. 2551

Cement Cost StructureCement Cost Structure

����� : ASP Estimate

Cement :Cement :

พลังงานทดแทน6%

ไฟฟา25%

อื่นๆ40%

คาเสื่อมราคา5%

ถานหนิ24%

Page 56: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

HousingHousingContractorContractorIndustrialIndustrialCementCementSteelSteel

Page 57: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

57������ � 21 �ก���� �.�. 2551

Steel :Steel : RevenueRevenue

38,045

0

40,000

80,000

120,000

160,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 58: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

58������ � 21 �ก���� �.�. 2551

Norm ProfitNorm ProfitSteel :Steel :

764

-10,000

-5,000

0

5,000

10,000

15,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 59: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

59������ � 21 �ก���� �.�. 2551

Norm Profit MarginNorm Profit MarginSteel :Steel :

2.01%

-80%

-60%

-40%

-20%

0%

20%

40%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 60: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

60������ � 21 �ก���� �.�. 2551

Gross MarginGross MarginSteel :Steel :

7.32%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 61: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

61������ � 21 �ก���� �.�. 2551

SG&A/SaleSG&A/SaleSteel :Steel :

4.22%

0%

5%

10%

15%

20%

25%

30%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 62: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

62������ � 21 �ก���� �.�. 2551

EBITDA MarginEBITDA MarginSteel :Steel :

7.49%

-20%

-10%

0%

10%

20%

30%

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

����� : ���� � ASP

Page 63: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

63������ � 21 �ก���� �.�. 2551

EBITDA/IEEBITDA/IESteel :Steel :

3.77

-4

0

4

8

12

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 64: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

64������ � 21 �ก���� �.�. 2551

Net DebtNet DebtSteel :Steel :

45,995

0

20,000

40,000

60,000

80,000

100,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 65: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

65������ � 21 �ก���� �.�. 2551

Net EquityNet EquitySteel :Steel :

117,239

-50,000

0

50,000

100,000

150,000

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

"#��$�

����� : ���� � ASP

Page 66: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

66������ � 21 �ก���� �.�. 2551

Net GearingNet GearingSteel :Steel :

0.390

15

30

45

60

75

2539

2540

2541

2542

2543

2544

2545

2546

2547

2548

2549

1Q50

2Q50

3Q50

'(�

����� : ���� � ASP

Page 67: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

67������ � 21 �ก���� �.�. 2551

CIS BILLET&BAR PRICE FOB (USD/MT)

$0

$100

$200

$300

$400

$500

$600

$7006-Jan-05

6-Apr-05

6-Jul-05

6-O

ct-05

6-Jan-06

6-Apr-06

6-Jul-06

6-O

ct-06

6-Jan-07

6-Apr-07

6-Jul-07

6-O

ct-07

6-Jan-08

Billet

Rebar

Scrap

Steel Price MovementSteel Price Movement

����� : +,�-��!�./ก�. !�./กก.1������� !�"#�

Steel :Steel :

Page 68: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

68������ � 21 �ก���� �.�. 2551

Steel Price MovementSteel Price Movement

����� : +,�-��!�./ก�. !�./กก.1������� !�"#�

Steel :Steel :

CIS SLAB & HRC PRICE FOB (USD/MT)

$200

$300

$400

$500

$600

$700

6-Jan-05

6-M

ar-05

6-M

ay-05

6-Jul-05

6-Sep-05

6-Nov-05

6-Jan-06

6-M

ar-06

6-M

ay-06

6-Jul-06

6-Sep-06

6-Nov-06

6-Jan-07

6-M

ar-07

6-M

ay-07

6-Jul-07

6-Sep-07

6-Nov-07

6-Jan-08

Slab

HR Coil

Page 69: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

69������ � 21 �ก���� �.�. 2551

STAINLESS GRADE 304 FOB (USD/MT)

$500

$1,500

$2,500

$3,500

$4,500

$5,500

$6,5006-Jan-05

6-Apr-05

6-Jul-05

6-O

ct-05

6-Jan-06

6-Apr-06

6-Jul-06

6-O

ct-06

6-Jan-07

6-Apr-07

6-Jul-07

6-O

ct-07

6-Jan-08

CR Stainless Asia CIF

HR Stainless Asia CIF

Steel Price MovementSteel Price Movement

����� : +,�-��!�./ก�. !�./กก.1������� !�"#�

Steel :Steel :

Page 70: ˘ ˇ ก˝ ˛ ˚ ˇ˜ ˜˛ ˇ ˆ˛˜˝˜ ˚ · 21 ก . .2551 18 Contractor : Norm Profit 338-6,000-4,000-2,000 0 2,000 4,000 6,000 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548

70������ � 21 �ก���� �.�. 2551

Steel Cost StructureSteel Cost StructureSteel :Steel :

Oxygen

6%

Iron Ore

32%

Other

6%Raw Material

Transport

11%

Electricity

3%

Coking Coal

17%

Steel Scrap

13%Other Material

12%

����� : steelonthenet.com


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