Chromospheric polarimetry through multiline observations ...
The Amalgamation Bangkok Expressway and Metro Plc. (BEM) · 2021. 5. 18. · Start Date : 1 March...
Transcript of The Amalgamation Bangkok Expressway and Metro Plc. (BEM) · 2021. 5. 18. · Start Date : 1 March...
Bangkok Expressway and Metro Public Company Limited (BEM)ANALYST MEETING Q1/2021
Average Traffic Volume
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(Thousand trips/Day)
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YOY
2021 799.5 1,001.3 1,115.5 972.6 -13.40%
2020 1,216.9 1,201.7 955.8 589.8 804.9 1,018.2 1,121.3 1,131.7 1,153.2 1,130.6 1,158.8 1,107.1 1,049.9 -15.14%
2019 1,239.6 1,255.6 1,288.1 1,183.0 1,218.3 1,244.7 1,223.3 1,260.2 1,238.3 1,235.5 1,257.8 1,203.4 1,237.2 0.58%
21/20 -34.30% -16.68% 16.71% -13.40%
20/19 -1.83% -4.29% -25.80% -50.14% -33.93% -18.20% -8.34% -10.20% -6.87% -8.49% -7.87% -8.00% -15.14%
2021
2020
2019
350
600
850
1,100
1,350
1,600
%YO
Y
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. %YOY
2021 17.33 21.85 24.46 21.23 -16.12%
2020 27.81 27.42 20.84 12.62 17.48 22.29 24.62 24.93 25.49 25.01 25.60 24.40 23.23 -17.71%
2019 28.17 28.53 29.34 26.96 27.73 28.42 27.94 28.84 28.28 28.23 28.74 27.54 28.23 1.29%
21/20 -37.68% -20.31% 17.37% -16.12%
20/19 -1.28% -3.89% -28.97% -53.19% -36.96% -21.57% -11.88% -13.56% -9.87% -11.41% -10.93% -11.40% -17.71%
20212020
2019
7
13
19
25
31
37
Average Toll Revenue
(Million Baht/Day)
3
%YO
Y
Average Daily Ridership
(Thousand trips/Day)
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YOY
2021 151.2 217.6 272.6 213.7 -35.45%
2020 397.4 363.9 234.0 78.5 118.8 202.7 253.4 288.1 310.3 299.9 311.8 269.1 260.5 -22.67%
2019 316.9 321.7 330.5 296.6 302.1 311.7 316.7 338.5 351.5 375.4 412.8 365.9 336.8 8.12%
21/20 -61.95% -40.19% 16.51% -35.45%
20/19 25.43% 13.11% -29.20% -73.54% -60.67% -34.98% -20.00% -14.89% -11.71% -20.10% -24.47% -26.45% -22.67%
0
100
200
300
400
500
2019
2020
2021
%Y
OY
4
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YOY
2021 4.24 6.10 7.45 5.93 -32.98%
2020 10.62 9.68 6.28 2.19 3.31 5.62 7.00 7.95 8.59 8.37 8.67 7.43 7.14 -17.69%
2019 8.04 8.15 8.35 7.52 7.65 7.87 8.02 8.58 8.97 9.99 11.12 9.77 8.67 9.97%
21/20 -60.05% -36.93% 18.58% -32.98%
20/19 32.17% 18.74% -24.77% -70.82% -56.71% -28.62% -12.70% -7.38% -4.14% -16.19% -22.02% -24.01% -17.69%
0
3
6
9
12
15
Average Daily Revenue
(Million Baht/Day)%
YO
Y
2019
20202021
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Financial Highlights
Consolidated (Unit : MB.) Q1/2021 Q1/2020 %CHANGE
Revenue :-
Expressway Business 1,873 2,300 -18.57%
Rail Business 1,023 1,293 -20.88%
Commercial Development 215 204 5.39%
Others 74 92 -19.57%
Total Revenue 3,185 3,889 -18.10%
Expense :-
Costs of Expressway Business (420) (448) -6.25%
Costs of Rail Business (1,207) (1,134) 6.44%
Costs of commercial development (54) (53) 1.89%
Amortization – Expressway (194) (761) -74.51%
Amortization – Rail (81) (99) -18.18%
Selling and Administration (315) (305) 3.28%
EBIT 914 1,089 -16.07%
Financial Cost (532) (455) 16.92%
Income tax (76) (123) -38.21%
Profit for the Period 306 511 -40.12%
Profit/(Loss) Attributable to Non-controlling interests (1) (3) -66.67%
Profit Attributable to Equity Holders of the Company 305 508 -39.96%
Earnings per Share 0.02 0.03
Net Profit Margin 9.77% 13.33%
Return on Equity 4.93% 7.60%
Book Value per Share 2.52 2.38
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Financial Highlights & Earnings Outlook
CORE REVENUE STRUCTURE
Road : 60% Rail : 33%
Commercial Development : 7%
2017 2018 2019 2020 3M/2021
Road
Rail
CD
Other
TOTAL REVENUE
3,123
2,051
5,317* 5,435**
305
2017 2018 2019 2020 3M/2021
15,393
19,08820,404
14,323
NET PROFIT
DPS / EPS
0.13 0.15 0.150.10
0.20
0.35 0.36*
0.13**
0.02
2017 2018 2019 2020 3M/2021
DPS
EPS
1.38 1.34
1.37
1.50 1.49
2017 2018 2019 2020 3M/2021
NET IBD/E
As of 3M/2021
Unit: MB Unit: MB
Unit : TimesUnit: THB
Remark : * Including non - cash extra item from reclassified the investment in CKP
** Including non - cash extra item from reclassified the investment in TTW 7
3,185
TRAFFIC : COVID – 19 Effect
500
600
700
800
900
1,000
1,100
1,200
1,300
20192018
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. %YoY
2021 799.49 1,001.28 1,115.48 837.86 937.80 -5.19%
2020 1,216.97 1,201.74 955.75 589.86 804.89 1,018.25 1,121.21 1,131.69 1,153.23 1,130.57 1,158.83 1,107.13 1,049.10 -15.21%
2019 1,239.85 1,255.73 1,288.11 1,183.02 1,218.34 1,244.63 1,223.34 1,260.20 1,238.35 1,235.54 1,257.85 1,203.37 1,237.26 0.58%
2018 1,206.51 1,266.04 1,269.04 1,154.27 1,213.29 1,242.35 1,205.30 1,251.22 1,227.88 1,220.11 1,283.91 1,224.67 1,230.13 1.33%
%YoY 21/20 -34.30% -16.68% 16.71% 42.04%
(Thousand trips/Day)
2020
2021
22 Jan 2020 : Found the first infected in Thailand
3 Apr 2020 : Announced the nation-wide curfew
3 May 2020 : Relaxing lockdown measure phase 1
17 Dec 2020 : Found the new infected in Samut Sakhon
6 Apr 2021 : 3rd Wave of COVID-19 Infections
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. %YoY
2021 151.24 217.62 272.60 146.87 196.99 -26.40%
2020 397.44 363.88 233.98 78.49 118.80 202.68 253.37 288.11 310.33 299.93 311.75 269.09 260.47 -22.65%
2019 316.85 321.70 330.49 296.64 302.09 311.72 316.72 338.51 351.51 375.36 412.75 365.88 336.85 8.12%
2018 299.02 323.54 315.35 277.99 294.90 316.44 301.13 331.00 325.33 321.09 342.81 291.54 311.54 5.50%
%YoY 21/20 -61.95% -40.19% 16.51% 87.21%
RIDERSHIP : COVID – 19 Effect
2019
2018
(Thousand trips/Day)
2020
2021
50
100
150
200
250
300
350
400
22 Jan 2020 : Found the first infected in Thailand
3 Apr 2020 : Announced the nation-wide curfew
3 May 2020 : Relaxing lockdown measure phase 1
17 Dec 2020 : Found the new infected in Samut Sakhon
15 – 24 Nov 2019 :Annual Red Cross Fair
6 Apr 2021 : 3rd Wave of COVID-19 Infections
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Multiline Pass / BL Pass /PL Pass
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Blue Line Pass
Trips Fares Avg. per Trip
15 450 30
25 700 28
40 1,040 26
50 1,250 25
Start Date : 1 March 2021
Multiline Pass
Trips Fares Avg. per Trip
15 810 54
25 1,300 52
40 2,000 50
50 2,250 45
Start Date : 1 Mach 2021
Purple Line Pass
Trips Fares Avg. per Trip
15 450 30
25 700 28
40 1,040 26
50 1,100 22
60 1,200 20
Start Date : 1 Feb 2021
Sustainability Bond 1/2021
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Bond Type Sustainability Bond
Distribution Institutional Investors and High Net Worth Investor
Issue Date 28 April 2021
Credit Rating A- Stable
Issue Size 6,000 MB
Tenor 3 – 10 Yrs (4 series)
Coupon 1.56% - 3.33%
Lead Underwriters Bank of Ayudhya Public Company Limited and Government Savings Bank
Use of proceeds Refinance and Investment of MRT Blue Line Project
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Q & A
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IR SURVEY
TH EN
DisclaimerThe information in this presentation has been prepared by Bangkok Expressway and Metro Public Company Limited (BEM) and is general background information about BEM’s activities current as at date of this presentation. This presentation is not intended to provide the basis of any investment decision, nor to substitute your own analysis and investigation and should not be considered as a recommendation to any recipient of this presentation. Before acting on any information you should considerthe appropriateness of the information having regard to these matters, any relevant offer document and in particular, youshould seek independent financial advice. All securities or instrument transactions involve risks and uncertainties which maycause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this presentation is, or should be relied on as a promise or representation of BEM as to the future.
Thank youFor further inquiry
www.bemplc.co.th
Email : [email protected]
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