Qualitech Public Company Limited

Qualitech Public Company LimitedOpportunity Day April 2, 2021 at The Stock Exchange of Thailand

1Opportunity day April 2, 2021

AGENDA

COMPANY OVERVIEW

FINANCIAL HIGHLIGHT

HIGHLIGHT PROJECT & PLAN

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Q&A

Opportunity day April 2, 2021

AGENDA

COMPANY OVERVIEW

FINANCIAL HIGHLIGHT


3

Q&A


COMPANY DEVELOPMENT

1991Established

2007Registered as a public company limited

2009-The company’s common stocks were listed on MAI-Granted a license as Thailand's first inspector of fire tube boiler and water tube boiler

2011Established two subsidiaries: 1. QLT International Co.,Ltd. 2. Qualitech Myanmar Co.,Ltd.

2016-Received 3 SET Awards-Certified member of the Collective Action Coalition Against Corruption (CAC)

2020Acquired:Duwell Intertrade Co.,Ltd.

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2012Forbes Asia Best UnderA Billion : THE REGION’STOP 200 SMALL ANDMIDSIZE COMPANIES

2010Forbes Asia Best UnderA Billion : THE REGION’STOP 200 SMALL ANDMIDSIZE COMPANIES

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Established a joint venture company Qualitech Solution Energy Co.,Ltd.

2021

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OUR BRANCHES AND SUBSIDIARIES

The head office is located in Rayong, Thailand.

THAILAND MYANMAR

Rayong office

(Headquarter)

Bangkok office

Sriracha office

Ban Bueng office

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.Opportunity day April 2, 2021

OUR BUSINESS

Qualitech Plc. operates business as an independent third party engineering services provider i.e. testing inspection and quality assessment and giving engineering advices to meet the international standards, for various organizations for the purpose of inspection or quality assessment in accordance with the international standards as inquired by clients.

• HydroFORM-Phased Array Ultrasonic Testing for Corrosion Mapping

• Medium Range Ultrasonic Test (MRUT)• In-line Inspection (ILI)

• Visual Inspection by Drone

• Tube Inspection

• Tank Cleaning

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BY SERVICE• Advanced Non-Destructive Test•Conventional Non-Destructive Test• Asset Integrity & Plant Inspection• Inspection & Certification• Metallurgical Testing Laboratory• Welding Solution


NON - DESTRUCTIVE TESTING

Conventional- Gamma Radiography- Pipeline Radiography with an X-Ray Crawler- Directional X-Ray- Positive Material Identification Test - Ultrasonic Thickness Measurement (UTM) - Magnetic Particle Test (MT) - Ultrasonic Test (UT) - Penetrant Test (PT)

Advanced- Digital Radiographic Test (DRT)- Computerized Radiographic Test (CRT)- Phased Array Ultrasonic Test (PAUT)- Eddy Current Array Test (ECAT)- Heat Exchanger Tube Inspection- Acoustic Emission Test (AE)- Time of Flight Diffraction Test (TOFD)- Tank Floor Scan by Magnetic Flux Leakage (MFL)- Visual Inspection by Drone- Medium Range Ultrasonic Test (MRUT)- Electro-Magnetic Acoustic Thickness Measurement (EMAT)- In-line Inspection (ILI)


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NON - DESTRUCTIVE TESTING

Gamma Radiography

Ultrasonic Test (UT) Medium Range Ultrasonic Test (MRUT)

In-line Inspection (ILI)

CONVENTIONAL ADVANCED


INSPECTION AND CERTIFICATE

Council of Engineers Thailand

Department of Industrial Work

- Boiler and Hot Oil- Transportation Tank, ADR

Department of Energy Business

- Bureau of Fuel Business Safety- Bureau of Natural Gas Business Safety- Bureau of Liquefied Petroleum Gas Business Safety

By Law

API : American Petroleum Institute

ASME : American Society of Mechanical Engineers

ISO : International Organization for Standardization

AWS : American Welding Society

By Code


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INSPECTION AND CERTIFICATE

Chemical Tank

LPG Tank and System

NGV Tank

Petroleum TankOpportunity day April 2, 2021

Specimen Preparation

-Band Saw Machine

-Grinding Machine

-CNC Machine

-Charpy V-NotchBroaching Machine

Mechanical Test

-Guided-Bending Test

-Tensile Test

-Impact Test

Metallurgical Analysis

-Rockwell Hardness Test

-Vickers Hardness Test

-Microstructure Analysis

-Macrostructure Analysis

-Replica Test

MECHANICAL AND METALLURGICAL TESTING LABORATORY

Corrosion Test

-Intergranular Corrosion Test

-Pitting Corrosion Test


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MECHANICAL AND METALLURGICAL TESTING LABORATORY

Milling


Metallographic Cutting Sample Preparation by Grinding for Metallography

Cutting by Band Saw

CLIENTS


AGENDA

COMPANY OVERVIEW

FINANCIAL HIGHLIGHT


14

Q&A


Statement of Income - Consolidated

Unit : Million Baht Unit : Million Baht % Change

2016 2017 2018 2019 2020 +/-

Revenue from Services 445.78 385.21 365.31 470.16 421.52 -10%

Cost of Services 323.81 298.65 297.44 347.66 315.40 -9%

Gross Profit 121.97 86.56 67.87 122.50 106.12 -13%

EBITDA 81.51 53.55 41.14 82.00 60.25 -27%

Depreciation & Amortization 30.88 30.84 27.63 26.75 28.10 5%

Profit for the Period 44.12 26.09 9.47 50.85 31.61 -38%

Owners of the Company 44.57 26.39 10.03 50.94 31.83 -38%

Non-controlling Interests (0.45) (0.30) (0.56) 0.09 0.22 144%

EPS (Earning per Share) 0.45 0.27 0.10 0.517 0.323 -38%Opportunity day April 2, 2021 15

445.78

385.21

365.31

470.16

421.52

121.97

86.56 67.87

122.50 106.12

44.1226.09

9.47

50.85

31.61

0

50

100

150

200

250

300

350

400

450

500

2016 2017 2018 2019 2020

Unit : Million Baht

Financial Performance

Revenue from services Gross Profit Profit for the period

Highlight

Revenue from sales services was 421.52 million bahtdecreased from the previous year by 48.64 million baht or10.35%

Gross profit was 106.12 million baht which wasdecreased from the previous year by 16.38 million baht or13.37%.

Profit gained in this period was 31.61 million baht whichwas decreased from the same period of the previous year by19.24 million baht or 37.84%.

The decrease was due to the COVID-19 situation.Inspection and certification services had been stagnated inthe 2nd quarter, then starting to recovered in the 3rd quarterand resuming to normal operations in the 4th quarter. Non-destructive testing services had limited impact by theCOVID-19 situation but were indirectly affected by delays ofthe customer construction projects due to difficulties inimporting raw materials arisen from the COVID-19 situationwhich impacted global production and transportation.

Opportunity day April 2, 2021 16

113

112

124

97

126

102 93

65

10294

83

8691

109

127

150

112

91

102

117

15

12

24

(7)

13

2

10

1 2 1 (3)

9

38

18 21

8

0 0

23

Q1'2016

Q2'2016

Q3'2016

Q4'2016

Q1'2017

Q2'2017

Q3'2017

Q4'2017

Q1'2018

Q2'2018

Q3'2018

Q4'2018

Q1'2019

Q2'2019

Q3'2019

Q4'2019

Q1'2020

Q2'2020

Q3'2020

Q4'2020

Revenue and Net Profit

Revenue from service Profit for the period

Unit : Million Baht


39.16 13.98 18.50 15.70 13.60

13.74

208.05

194.65 182.61 189.54 192.17

6.29

6.62 4.57 9.48

8.84

61.74

43.46 60.15

93.41 66.29

98.46

82.16 66.78

105.83 99.03

90.23

164.96 152.63

128.49

123.03

2016 2017 2018 2019 2020

ASSETS

Cash and equivalents & Current financialassets

Trade and other current receivables

Unbilled services income and contractassets

Inventories

PP & E

Assets classified as held for sale

Other non current assets

Unit : Million Baht


443.97 449.91 438.50 456.50 447.15

14.46 18.21 16.30

29.19 33.34 45.50 37.71

30.44

56.76 36.21

2016 2017 2018 2019 2020

LIABILITIES & EQUITY

Current liabilities

Non current liabilities

Total Equity

Unit : Million Baht


Ratio

5.64

7.88

9.34

5.94

8.59

2016 2017 2018 2019 2020

Current Ratio

อตัราสว่นสภาพคลอ่ง (เทา่)

0.10

0.08

0.11

0.190.16

2016 2017 2018 2019 2020

Debt to Equity (D/E)

อตัราสว่นหนีส้นิตอ่สว่นของผูถ้อืหุน้ (เทา่)

10.00

5.91

2.13

11.38

7.04

2016 2017 2018 2019 2020

Return On Equity : ROE

อตัราผลตอบแทนจากสว่นของผูถ้อืหุน้ (%)

8.57

5.23

1.91

9.91

6.01

2016 2017 2018 2019 2020

Return On Asset : ROA

อตัราผลตอบแทนจากสนิทรพัย์ (%)


31.98

38.44

25.49

51.42

40.61

24.64

34.50

24.64

34.50

29.57

77.05%

89.75%96.67%

67.09%

72.81%

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%

0.00

10.00

20.00

30.00

40.00

50.00

60.00

2016 2017 2018 2019 2020**

DIVIDEND PAYMENT

Profit for the period Total paid Dividend Ratio of Dividend Payment and Profit

Unit : Million Baht

** The dividend is uncertain since it has to be approved from the shareholders meeting.


AGENDA

COMPANY OVERVIEW

FINANCIAL HIGHLIGHT


22

Q&A



HIGHLIGHT PROJECTS IN 2020


AIBEL - JOHAN SVERDRUP PHASE 2 PROJECT

Client: Aibel (Thailand) Limited

Project: Johan Sverdrup Phase 2

Timeline: Nov 19 – Mar 21

RATCHABURI POWER COMPANY LIMITED (RPCL)

Project: Oil Transferring from Tank 1D to Tank 3A and 3D


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Project:

• 127-km NPS 8 LPG GSP Chana Thailand to M5 Derang Malaysia

• 220 km NPS 36 NG GSP Chana Thailand to ML417 Lunas Malaysia

Timeline: Oct 2020 – Nov 2020


TRANS THAI-MALAYSIA (THAILAND) LIMITED

Eddy current flaw detection

Crack in the pitch bearing mounting hole

WIND TURBINE PITCH BEARING INSPECTION

Pitch Bearing


MRUT CORROSION UNDER RISER CLAMP



HIGHLIGHT PROJECTS IN 2021

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Item Client Project Period

1 Aibel (Thailand) Limited Bacalhau, Dogger Bank A&B Jan 21 – Apr 23

2 BJC Heavy Industries PCL Koodaideri, Santos Phase 2 Jan 21 – Oct 21

3 Thai Rotary Engineering PCL PTTLNG Nongfab LNG

Receiving Terminal Project

Jan 21 – Oct 21

4 Visavakit Patana Corp. Artic LNG 2 Aug 20 – Dec 21

5 Chevron Thailand exploration

and Production

Yearly Contact Jan 21 - Dec 21


NDT BACKLOG PROJECT

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FPSO - Topside Modules


AIBEL - BACALHAU PROJECT

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AIBEL – DOGGER BANK A&B WIND FARM PROJECT

Platform’s Topsides


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LNG Receiving Terminal


PTTLNG NONGFAB LNG RECEIVING TERMINAL PROJECT

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VISVAKIT PATANA CORP - ARTIC LNG 2

HRSG - Heat Recovery Steam Generators



CHEVRON THAILAND EXPLORATION AND PRODUCTION

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Project: NFPT PHASE1Timeline: 2020 – 2021


FUEL PIPELINE TRANSPORTATION LIMITED


QUALITECH SOLUTIONS ENERGY COMPANY LIMITED

Reference: GPSC Annual Report 2019

Q&A


Qualitech Public Company Limited

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