Eastern Water Resources Development and Management PLC ...Chachoengsao Bangpakong MWA Group 1...
Transcript of Eastern Water Resources Development and Management PLC ...Chachoengsao Bangpakong MWA Group 1...
Eastern Water Resources Development
and Management PLC.
Opportunity Day
Venue SET Building, Room 1101
2009 Yearly Results
24 February 2010
Contents
Company Overviews
Operation Highlights
Financial Results
Future Investments
2
CSR Projects
33.26% of Net Profit and 26.82% of EBITDA increase in
Y2009(YoY)
Nongplalai - Maptaphut(Line3) pipeline, the construction was
started in 4Q/2009 and expected to complete the project in
2011
Prasae-Klongyai pipeline, the Cabinet had a resolution to
approve the budget payment for this project and the asset will
be delivered within 90 days after the agreement signing date
Dividend for 2009 operating results is Bath 0.35 per share,
interim dividend of Bath 0.10 per share paid on Sep 23, 2009
the remaining of Bath 0.25 per share will be paid on Apr 5,2010
Company Highlights
3
East Water Group Structure
Bangpakong Water Supply
Chachoengsao Water Supply
Nakornsawan Water Supply
Rayong Waterworks
Operations & Maintenance
Non Revenue Water
East Water
Koh Sichang, Lan, Samui Waterworks
Sattahip, Borwin Waterworks
Ratchaburi –SamutSonghram, Phuket
PWA 3 project : Omnoi, PathumThani
Bangpakong Water Supply
Chachoengsao Water Supply
Nakornsawan Water Supply
Rayong Waterworks
Non Revenue Water
East Water
Bangpakong Water Supply Co.,Ltd.
Chachoengsao Water Supply Co.,Ltd.
Nakornsawan Water Supply Co.,Ltd.
Rayong Waterworks
Non-Revenue Water
East Water
East Water
Universal Utilities : 100%
* THB 510 million
EGCOM TARA : 15.88%
* THB 345 million
Chonburi Waterworks
4
Nakhonsawan
Srichang Island
ChachoengsaoBangpakong
MWA
Group 1 Concession Contracts
Group 2 O&M Contracts
Sattahip
Group 3 NRW Contracts
Prathum-Rangsit (PWA)Omnoi-Sampran (PWA)
Samui Island
Rayong
Universal Utilities Co., Ltd. (UU)
Rachaburi-Samutsongkram BorwinLarn Island
Phuket
5
-
20
40
60
80
100
2006 A 2007 A 2008 A 2009 A 2010 E 2011 E 2012 E 2013 E
33 45 49 53
65 70 73 76
Forecasted
: Chonburi BOO Contract. (8.7 Million Cu.m/year) start in 2010: Tap Water Demand is calculated excluding O&M Contract
Tap Water Demand
Million Cubic Meter
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
6
64
82 82
105
-
30
60
90
120
150
Net Profit
878
731 749
902
-
300
600
900
1,200
1,500
Revenue
Tap Water Revenue and Net ProfitMillion BahtMillion Baht
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only7
28.07% YoY20.37% YoY
Direction of Business Development
Concession O&M NRW Industrial
Water
UU
Water
Reclamation/
Waste Water
Core Business Potential Projects 8
Market Expansion
Government
Concession/O&M
PWA Municipality Sub-District
Organization etc.
Private Sector
Future Projects
Industrial Water Waste Water
Water Reclaim
Factory Industrial
Estate etc.
9
Contents
Company Overviews
Operation Highlights
Financial Results
Future Investments
10
CSR Projects
-
50
100
150
200
250
300
350
2006 A 2007 A 2008 A 2009 A 2010 E 2011 E 2012 E 2013 E
201 219 224 221
239 265
294 304
Raw Water Demand
Demand is expected to increase by the expansion of Domestic Consumption and
Petrochemical Phase 3
Forecasted
Million Cubic Meter
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only11
20.17
19.08
18.32
20.5719.54 20.27
19.2220.26
21.58
19.4520.39 20.34 20.33
10
12
14
16
18
20
22
24
26
28
30
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mill
ion
s C
ub
ic M
eter
s
Actual 2010
Actual 2009
Plan 2010
17.7116.92
18.9917.89
18.24 17.57 18.3919.69
18.56 18.27 18.67 20.35
19.0818.32
20.5719.54 20.27
19.2220.26
21.58
19.4520.39
20.34 20.33
10
12
14
16
18
20
22
24
26
28
30
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mill
ion
s C
ub
ic M
eter
s
Actual 2008
Actual 2009
Plan 2010
10.52% YoY 7.51% YoY 4.89% YoY 10.47% YoY
Raw Water Volume in 2009 drop by 1% ,YoY due to the financial crisis
Raw Water Volume in 2010 is expected to increase by 8%, YoY
+ 17.29%
YoY
12
Reservoir Storage as of Feb 15, 2010
0
20
40
60
80
100
120
140
อา่งฯบางพระ
52%
0
10
20
30
40
50
60
70
80
อา่งฯดอกกราย
0
3
6
9
12
15
18
21
24
อา่งฯหนองคอ้ 0
20
40
60
80
100
120
140
160
180
อา่งฯหนองปลาไหล
86%60%76%
0
25
50
75
100
125
150
175
200
225
250
275
อา่งฯประแสร์
83%
0
5
10
15
20
25
30
35
40
45
อา่งฯคลองใหญ่
76%
Bangphra Nongkoh Dokkrai Nongplalai
Phrasae
Khlong yai
ChonburiRayong
61.04
117
12.74
21.453.94
71.4
140.84
163
30.51
40.1
206.7
248
Existing Pipe Network
Potential Pipe Network13
14
1515
P
Maptaphut Industrial Estate
New pipeline will support water demand in 10 years
Laying pipeline from Nongplalai to Maptaphut area
diameter 1,400 mm. approx. 30 km.
Additional pipeline to AIE and constructing new
pumping station
Total investment 2,111 MB
Construction Period 2009-2011
Prasae-Klongyai (RID)
Laying pipeline approx. 30 km.
NongPlaLai-Dokkrai- Maptaphut Line 3
NongKho
NongPlaLai
DokKrai
BangPra
KlongYaiPrasae
16
Pipeline linkage
Pumping
station
Prasae-Klongyai connecting pipeline project
KlongYai Prasae
NongPlaLai
Constructing Pipe Network
Pumping station
In Aug 2005, assigned by the Cabinet
to be responsible for the 31.8 km.
Prasae-Klongyai Pipeline project
(1,680MB) to supply water to
Maptaphut area
Completed construction, on 14 July
2009 the Cabinet assigned RID to
manage the procurement process for
this project
On 1 Dec 2009, the Cabinet had a
resolution to approve the budget
payment for this project
The agreement had been signed on
15 Jan 2010,the asset will be
delivered within 90 days
Prasae-Klongyai Pipeline Linkage Project
17
Contents
Company Overviews
Operation Highlights
Financial Results
Future Investments
18
CSR Projects
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Other Income Service & Rental Income Tap Water Raw Water
2,505 2,4172,502
2,879
56%
14%
20%
10%
66%
20%
10%4%
66%
22%
8%4%
66%
22%
10%2%
Source of Revenue
19
Million Baht
Revenue(MB) Y2008 Y2009 %
Raw Water 1,658 1,904 15%
Tap Water 561 636 14%
Service & Rental Income
192 282 47%
Other Income 91 56 39%
Total Revenue 2,502 2,879 15%
15.07% YoY
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
201.37
219.10223.86 221.27
-
50
100
150
200
250
300
Raw Water Volume and Sales
Million Cubic Meter
1,397
1,588 1,658
1,904
-
500
1,000
1,500
2,000
2,500
Million Baht
14.86% YoY1.16% YoY
Raw Water Volume Comparison Raw Water Revenue Comparison
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only20
32.53
45.34
49.45
53.04
-
10
20
30
40
50
60
70
Million Cubic Meter
355
488
561
636
-
100
200
300
400
500
600
700
800
Million Baht
Tap Water Volume and Sales
13.45% YoY7.26% YoY
Tap Water Volume Comparison Tap Water Revenue Comparison
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only21
Raw Water Revenue and Costs Breakdown
1,397
1,588 1,6581,904
COGS Rev
Millio
n Ba
ht
Raw Water
Staff Cost
Electricity
Depreciation
Others
Y2009
Y2008
40% 38%39% 43%
Revenue & COGS of Raw Water (Consolidated F/S) COGS of Raw Water Breakdown (Consolidated F/S)
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only22
505 432606
807796 764 913
1,250 1,061 1,1331,264
1,603
-
500
1,000
1,500
2,000
Net Profit EBIT EBITDA
East Water Group Performance
Million Baht
33.26%
YoY
26.82%
YoY
36.21%
YoY
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only23
Financial Structure of East Water
1.17
0.66
0.53
0.44
0
0.25
0.5
0.75
1
1.25
Tim
es
24
1.01
0.55
0.48 0.35
0
0.25
0.5
0.75
1
1.25
Tim
es
Consolidated D/E Ratio Separated D/E Ratio
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
Dividend Policy
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.25 0.25 0.25 0.35
EPS DPS
Baht/
Sha
re*
• Adjusting figure for comparison purpose of par split from 10 to 1 Baht/share since May 2005• Interim dividend of Bath 0.10 per share, which was paid on Sep 23, 2009 • The remaining dividend for 2H/2009 operating results is Bath 0.25 per share, record date on Mar 25, 2010 paid date on Apr 5,2010
0.39
0.33
66% 78%
25
0.35
68%
0.49
71%
Consolidated Financial Ratio
26
52.11%56.27% 54.24%
58.81%
20.14%17.87%
24.22%
28.04%
11.70%8.15%
10.05%12.96%
5.46% 4.39% 6.31%8.73%
0%
10%
20%
30%
40%
50%
60%
70%
GPM (%)
NPM (%)
ROE(%)
ROA(%)
1.17
0.66 0.530.44
0.00
0.50
1.00
1.50
2.00
D/E (times)
* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
Source of Funds
Source of LoanAmount
(MB)
Outsta-
nding
Tenor
(years)
Rate
2005-2007
Rate
2008-2009
Rate
2010-2011
Long-Term Loan from KTB
- Tranche A
- Tranche B
1500
500
-
-
7
7
4.5*
4.5*
4.5*
4.5*
MLR-0.75
MLR-0.75
Source of LoanAmount
(MB)
Outsta-
nding
Tenor
(years)
Rate
2007-2009
Rate
2010-2011
Rate
2012-2013
Long-Term Loan from KTB
- Tranche C 1500 1350 7 4.8 MLR-1.75 MLR-1.50
Source of LoanAmount
(MB)
Outsta-
nding
Tenor
(years)
Rate
2009
Rate
2010-2013
Rate
2014-2016
Long-Term Loan from KBANK
-Tranche A 1000 - 7 MMR MLR-1.75 MLR-1.50
Source of LoanAmount
(MB)
Outsta-
nding
Tenor
(years)
Rate
2009-2012
Rate
2013-2015
Rate
2016-2018
Long-Term Loan from GSB
-Tranche A 1700 - 10 3.5 MLR-2.25 MLR-2.00
* New interest rate be adjusted down from 6% and MLR-1.5% for KTB Long-Term Loan in Tranche A and B respectively, to 4.5% from July 2007 to Oct 2010
** Information as above is based as of December 200927
Contents
Company Overviews
Operation Highlights
Financial Results
Future Investments
28
CSR Projects
Waterworks Projects
•Existing Contract Expansion
•Chonburi Project
•Industrial water / Wastewater Projects
Raw Water Projects
1. Pipeline Expansion
• NongPlaLai-MapTaPhut 3
• Improvement Dokkrai Pumping Station
• Nongplalai-NongKho Pipeline Expansion
• NongKho-Leamchabang Pipeline
Expansion
2. Alternative Water Resources
• Private Pond
• Off-Stream Reservoir
3. Monitoring Project
• Southern Seaboard Project
Future Projects
29
Special Projects Biofuel
•Mini Hydro Turbine Generator Project
(Prasae Reservoir, Nongplalai-Nongkho
Pipeline)
•Expand to Regional / SE Asia
Indicative East water Group’s Capital Expenditure
Projects
Total
MB
2010
MB
2011
MB
2012
MB
2013
MB
2014
MB
Raw Water Projects
(Existing Cap. Enhancement)3,500 1,700 1,300 100 400 -
Tap Water Projects 5 5
Total Capital Expenditure , 5 , 5 ,
30
Unit : Million Baht
Contents
Company Overviews
Operation Highlights
Financial Results
Future Investments
31
CSR Projects
Corporate Social Responsibility(CSR)
We are proud to be a member of the Eastern Seaboard
Communities. Every year we allocate around 5% of Net
Profit to bring Quality of Life and Environment Care to
Communities in Eastern Seaboard
32
CSR Strategy and Policy
To improve Quality of life of communities
to have clean water for consumption
Collaboration with communities to care of
water resources and environment
Focus on development potential of youth
in the our service areas
To promote knowledge and awareness of
water conservation and water care
33
CSR Project
34
Thank Youwww.eastwater.com