Q1 2019 ANALYST MEETING DATE: 14 TH MAY 2019
Q 1 2 0 1 9 A N A L Y S T M E E T I N G
D A T E : 1 4 T H M A Y 2 0 1 9
Q1 2019 Performance
2,546 3,127 3,3414,183 4,022 4,656 4,492 4,668
3,946
5,9851,4991,498 1,298
3,631
1,3411,657 2,127
3,666
1,321
1,517
927
1,314
921
2,007 1,185
1,152
910
1,142
Q1 17
666
Q4 17 Q1 18(Restated)
Q2 17 Q1 18
6,426
523
Q2 18Q3 17 Q3 18 Q1 19Q4 18
288
5,127 5,463 5,462
8,5649,553
6,533
8,065
9,8038,932
+39%
Million Baht
Q1 2019 Revenue: +51% JV
1,052 1,071 1,900
12,94713,198
17,838
20,500
6,7067,926
8,792
5,5003,431
5,264 4,000
32,965
600
2016 2017 2018 2019 FC
25,607
22,669
31,900
3
Condominium
51% JV
Service Rev
Low Rise
+51.7%
+14.8%
7,790(+41.2%)
Q1 2019 Financial Summary
Note: % Of total revenue + 51% JV, except selling expenses which is based on reported revenue
34.5%
17.8%
7.8%
10.0%
*With 51% JV
4
34.9%
15.6%
8.2%
7.4%
8.2%
7.4%
2,6232,703
3,148
3,856
1,078
34.8%
18.0%
11.9%
20.5%
Y2015
18.8%
19.3%
13.3%
Y2016 Y2017
35.7%
35.8%
19.1%
Y2018
32.9%
Q1 2019
34.5%
17.8%
13.8%
19.8%
34.1%
19.0%
33.8%
35.1%
20.7%
13.9%14.2%
+16.5% +22.5%
P&L Quarterly Performance
549 608 636
1,355
8651,181
915 953 1,078
32.9%
11.0%
33.8%
13.1% 12.7%
21.8%
19.6%
34.3%
Q1 2017
36.6%34.8%
Q3 2017
20.9%
19.9%
34.9%
19.5%
Q3 2018Q2 2017
36.6%
22.0%
21.0%
12.9%
37.4%
34.7%
33.9%
Q4 2017
18.7%
16.4%
21.5%
34.2%
16.8%
37.1%
Q1 2019
15.6%15.7%
21.7%
Q1 2018(Restated)
36.0%
33.3%
20.6%
17.4%17.8%
32.8%
18.0%
Q2 2018
34.8%
13.3%
19.3%
34.5%
20.4%
Q4 2018
13.8%
17.8%
32.5%
+24.6%
%GP
Net profit
%NI
%SG&A
5
Presales Update: 30th April 2019
Presales Performance as of 30th April 2019
12,33214,822
19,65222,500
6,9098,323
10,033
28,15621,646 16,500
5,380
6,673
22,365
42,97841,298
39,000
14,996
12,289
2016 2017 2018 2019FC YTD2018YTD2019
+22%
5,2104,714
5,690
4,037
6,222
2,100
6,909
8,323
Q2 2018Q1 2018 Q3 2018 Q1 2019Q4 2018 April 2019
YTD 2019YTD 2018
+19%
+20%
4,806
2,534
7,7386,568 6,363
310
5,380
6,673
YTD 2019Q1 2018 Q4 2018Q2 2018 Q3 2018 Q1 2019 YTD 2018April 2019
+32%+24%
Mill
ion
Bah
t
Condominium
Low Rise
9
Presales Achievement as of 30th April 2019
1
PresalesTHB
Million
Low Rise 8,323
Condominium 6,673
of which JV Condo (1,888)
Presales Achievement 14,995
% Achievement 38.4%
2019 Presales Target 39,000
AP BacklogTHB
Million
Low rise 7,164
Condominium(2019 Portion)
2,024
3M 2019 Revenue Recognition
7,503
Total Backlog(2019 Portion)
16,691
% Secured Revenue 64.2%
2019 Property Revenue Target
26,000
Backlog by Segment: AP
7,164
5,164
12,328
30th April
Condo
Low Rise
Mill
ion
Bah
t
9Note: Data as of 30th April 2019
• Q1 2019 JV revenue recorded at THB 2.2 billion (+25.5% YoY)
• “Share of profit from investments in joint ventures” reported at THB 293 million (+95.3% YoY).
• In Q1, “Life Asoke” (91.2% transferred) and “Rhythm Ekkamai” (68.1% transferred) continued to be
key players.
• As of 30th April, JV condo backlog recorded at THB 39.2 billion and a schedule of revenue recognition
is shown in the below table.
Joint Venture with Mitsubishi Estate Residence
10Note: Data as of 30th April 2019
Condo Backlog & Transfer Schedule:JV Condo Backlog
11
AP Condo Backlog
3,562
5,506
1,765
4,420
1,375 1,375
20232019 2020 2021 2022
7,717 7,804
11,969 12,09813,847
7,303
594
2021 20232019 2020
7,1103,460
2022
4,530
17,550 17,980
6,630
New Launch
Backlog Based Completion
Backlog
Note: Data as of 30th April 2019
Based Completion
2019 Launch Plan (Revised)
2019 New Launch Phasing
13
6,0008,685
10,385 10,580
7,300
8,800 6,30010,580
Q1 2019 Q2 2019 Q3 2019 Q4 2019
13,300
17,485 16,685
Condominium
Low Rise
Number of Project Q1’19 Q2’19 Q3’19 Q4’19 2019
Condo 3 1 1 - 5
- AP 2 - - - 2
- JV 1 1 1 - 3
Low rise 5 8 13 9 35
Total 8 9 14 9 40
2019 New Launch Phasing
14
Disclaimer:
This presentation may include information which is forward-looking in nature.Forward-looking information involve known and unknown risks, uncertainties andother factors which may impact on the actual outcomes, including economicconditions in the markets in which AP (Thailland) and general achievement of AP(Thailand) business forecasts, which will cause the actual results, performance orachievement of AP (Thailand) to differ, perhaps materially, from the results,performance or achievements expressed or implied in this presentation.
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