Q2/2019 & H1/2019 Opportunity Day Presentation

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%

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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%)

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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

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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


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)


11

24 12

Products and Services

13


14


15


16


17


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

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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

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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.

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Q2/2019 & H1/2019 Opportunity Day Presentation

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