Opportunity Day 2Q/ August 2016

Transcription

1 Opportunity Day 2Q/ August 2016

2 Agenda I. Company Overview II. Financial Performance III. Project Update 2

3 I. Company Overview 3

4 KEY MILESTONES REVENUE FROM OVERSEAS REACH 25% OF TOTAL REVENUE BY YEAR 2020 SPECIALIZED LOGISTICS Moving services Office building & warehouses rental services Document and data storage management services INTEGRATED LOGISTICS & SUPPLY CHAIN MANAGEMENT Third party logistics services IT solutions for supply chain management Transport and distribution services Automotive yard management services Food & cold chain logistics OVERSEAS LOGISTICS Expand into ASEAN countries First mover of logistics provider in Laos, Myanmar and Cambodia Joint venture with strong partners: RMA Group, JB Trading, Srithai Group 4

5 Business Overview Company s Services Warehouse & Yard Management Transportation & Distribution Moving Record & Information Management Others General Goods General Goods Household Document Storage Warehouse rental Dangerous Goods Dangerous Goods Office Document Destroy IT Solution Automotive Yard Car Carrier Exhibition Packing & Filling Cold Chain Cold Chain Machinery 5

6 2Q16 Highlights Key Events Update Key Performance Start operation new general warehouse and cold storage in Laos. Total area of 720 sq.m. 1Q16 Acquire 5.2% of the shares of common stocks in PPSP for asset utilization in future expansion Start operation cold storage in Myanmar. Initial area of 1,000 sq.m. Fitch Ratings (Thailand) assigned BBB+ (tha) for L/T rating with stable outlook JWD was selected into SET100 Index in Jul Q16 Jul-16 Dangerous Goods Warehouse & Yard Management Revenue temporary dropped from economic slowdown Lower maintenance cost GP slightly dropped from 1Q16 General Goods Warehouse & Yard Management Revenue and GP still in recession due to two warehouse renovation Expect to recover in 3Q16 when renovation finished and start operation again with initial OR approx. 30% Extend customer base for automotive service, BMW and Honda Expand into cross-border transportation service across Asean countries with strong partner Automotive Warehouse & Yard Management Revenue improved from new customers Higher efficiency due to economy of scale Cold Storage Warehouse & Yard Management Performance dropped due to IUU fishing problem Improved cost management to maintain GP Expand customer base into poultry and agricultural products 6

7 Way Forward Start operation new general warehouse and cold storage in Cambodia Area of 4,428 Sq.m. Total investment 77.0 MB Service footprint Y ,191 Sq.m. Domestic 779,743 Sq.m. Overseas 9,448 Sq.m. 4,300 Sq.m. 779,743 Sq.m. + on-site service 273,542 Sq.m. 720 Sq.m. 4,428 Sq.m. Start operation JCS (JWD Chemical Supply Chain) Area of 6,900 Sq.m. Total investment MB Start operation LCL Consolidation Hub in existing free-zone warehouse Construction of warehouse for FMCG in Laos Total investment 85.0 MB Start operation general warehouse in Myanmar (Phase II) Area of 3,300 Sq.m. Total investment 11.0 MB Start operation warehouse for FMCG in Laos Area of 3,354 Sq.m. Chemical project in Cambodia E-commerce logistics in Thailand Cold storage project in Vietnam Cold storage project in Malaysia Restructuring assets into REITs 3Q16 4Q16 1Q17 Future Projects 7

8 II. Financial Performance 8

9 Revenue Total Revenues and Service Capabilities Total Revenue and Growth MM THB 2, , , , , , , , , , Y12 Y13 Y14 Y15 Y16(F) Y17(F) Y18(F) 2Q15 2Q16 Warehouse Capacities (Unit: sq.m.) Q16 General goods 96, , , , ,178 Chemicals & Dangerous goods 10,032 10,032 10,032 10,032 10,032 Yard Capacities (Unit: sq.m.) Q16 Chemicals & Dangerous goods 125, , , , ,968 Automotive Yard 310, , , , ,287 Cold chain service 19,276 28,740 42,441 52,265 53,527 Record & Info Management 17,880 16,440 14,520 14,520 14,520 Other services 8,415 8,415 15,183 21,951 21,951 Total 151, , , , ,208 On-site Automotive Yard Total (Excl. on-site space) , , , , , , ,255 Note : Proforma FS Year

10 Gross Profit Revenue Revenue & Gross Profit Revenue Revenue breakdown MM THB 4% 2% 2, , , , , , , , , % 11% 77% Cold chain 25% 24% Automotive General Goods 21% 30% Dangerous Goods - Y2013 Y2014 Y2015 2Q15 2Q16 Warehouse/Yard Management Transport & Distribution Gross Profit and Gross Profit Margin Moving Other Services Records & Info. Management MM THB 1, , % % 40.3% 35.3% 36.5% Y2013 Y2014 Y2015 2Q15 2Q % 40.0% 30.0% 20.0% 10.0% 0.0% Gross Profit Margin Revenue for 2Q16 was THB 1,103.4 mm, fell 3.8% YoY due to two warehouses in Leamchabang area which are under renovation together with the decreased stock of seafood products in cold storage resulted from unclear IUU Fishing problem Dropped gross margin of 30.5% due to decreased warehouse management service revenue while fixed costs still exist Gross Profit Gross Profit Margin Note : Proforma FS Year

11 Revenue & Gross Profit Throughput Revenue and Gross Profit by Business Warehouse & Yard Management: Chemical and Dangerous Goods Dangerous Goods Yard Throughput TEU* *TEU = Twenty-Equivalent Unit 200, , , , , ,000 78,354 74,754 50,000 - Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 Revenue & Gross Profit MM THB % 37.5% 38.4% 34.8% 34.2% Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q % 40.0% 30.0% 20.0% 10.0% Gross Profit Margin Revenue Gross Profit Gross Profit Margin Note : Proforma FS Year

12 Revenue & Gross Profit Area Revenue and Gross Profit by Business (Cont d) Warehouse & Yard Management: General Goods Area & Occupancy Rate Sq.m. 200, , ,000 80,000 40, % 86.2% 79.7% 109, , , % 82.6% 85.6% 119, , , % 76.6% 111, , % 80.0% 60.0% 40.0% 20.0% Occupancy Rate - Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 0.0% Area Occupancy Rate Revenue & Gross Profit MM THB % % 37.9% % % % 40.0% 30.0% 20.0% 10.0% Gross Profit Margin 0 Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 0.0% Revenue Gross Profit Gross Profit Margin Note : Proforma FS Year

13 Revenue & Gross Profit Area Revenue and Gross Profit by Business (Cont d) Warehouse & Yard Management: Automotive Area & Occupancy Rate Sq.m. 800, % 90.7% 84.5% 85.5% 86.4% 88.9% 86.4% 84.6% 100.0% 600, , , , , , , , ,742 48, , , , , , , , % 60.0% 40.0% 20.0% Occupancy Rate - Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 Yard Area On-Site Operation Area Occupancy Rate 0.0% Revenue & Gross Profit MM THB % % 31.4% 31.0% 26.7% % 30.0% 20.0% 10.0% Gross Profit Margin 0.0 Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 0.0% Revenue Gross Profit Gross Profit Margin Note : Proforma FS Year

14 Revenue & Gross Profit Area Revenue and Gross Profit by Business (Cont d) Warehouse & Yard Management: Cold Storage Area & Occupancy Rate Sq.m. 60,000 50,000 40,000 30,000 20,000 10, % 25, % 42, % 64.5% 63.5% 56.4% 59.2% 57.0% 52,265 54,327 54,327 54,327 52,265 53, % 80.0% 60.0% 40.0% 20.0% Occupancy Rate - Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 0.0% Warehouse Area Occupancy Rate Revenue & Gross Profit MM THB % 47.6% % % 40.4% % 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% Gross Profit Margin 0 Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 0.0% Revenue Gross Profit Gross Profit Margin Note : Proforma FS Year

15 Revenue & Gross Profit Revenue and Gross Profit by Business (Cont d) Transportation & Distribution Service No. of Trips No. of trips 25,000 20,000 15,000 14,430 15,314 18,214 20,035 22,039 24,243 10,000 5,000 4,023 5,504 - Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 Revenue & Gross Profit MM THB % % % % 4.7% Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q % 15.0% 10.0% 5.0% 0.0% Gross Profit Margin Revenue Gross Profit Gross Profit Margin Note : Proforma FS Year

16 Revenue & Gross Profit Area Revenue and Gross Profit by Business (Cont d) Moving Service No. of Jobs Sq.m. 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000-7,211 7,539 7,082 6,619 6,377 6,186 2,810 2,447 Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 Revenue & Gross Profit MM THB % % 31.0% 27.7% % % 30.0% 20.0% 10.0% Gross Profit Margin 0 Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 0.0% Revenue Gross Profit Gross Profit Margin Note : Proforma FS Year

17 Revenue & Gross Profit No. of Cartons Revenue and Gross Profit by Business (Cont d) Record & Info Management No. of Cartons 1,000, , , , , , , , , , , , ,000 - Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 Revenue & Gross Profit MM THB % % 56.6% 55.2% 59.4% % 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% Gross Profit Margin 0.0 Y2013 Y2014 Y2015 Y2016(F) Y2017(F) Y2018(F) 2Q15 2Q16 0.0% Revenue Gross Profit Gross Profit Margin Note : Proforma FS Year

18 Area Revenue Revenue Update overseas project performance Revenue Warehouse & Yard Management Cross border Transportation MM THB MM THB Q16 Y2016 (F) Y2017 (F) Y2018 (F) Q16 Y2016 (F) Y2017 (F) Y2018 (F) Laos Cambodia Myanmar Area Y2016 (F) Revenue from overseas Sq.m. 7,000 6,000 5,000 4,000 3,000 2,000 1,000 5,800 5,274 5,428 4,428 4,300 4,428 4,074 4, , % 26% 19% 15% Laos Cambodia Myanmar Cross-Border Transportation - 2Q16 Y2016 (F) Y2017 (F) Y2018 (F) Laos Cambodia Myanmar 18

19 Net Profit SG&A Expenses SG&A Expenses & Net Profit SG&A Expenses Net Profit* and Net Profit* Margin MM THB % % 16.6% 17.0% % Y2013 Y2014 Y2015 2Q15 2Q16 One-time expense SG&A SG&A to Total Revenue SG&A (Excl. one-time exp.) to Total Revenue 25.0% 20.0% 18.0% 15.0% 10.0% 5.0% 0.0% SG&A Exp. to Sales MM THB % 20.0% 18.0% 16.0% % 13.3% 14.0% % % % 6.5% 5.8% 4.8% 6.0% % 5.0% % 4.0% 3.8% % % Y2013 Y2014 Y2015 2Q15 2Q16 Net Profit excl. One-Time Exp. Interest Exp. to Total Rev. Net Profit Margin & Interest Exp. to Sales Net Profit Margin Cost Structure *Note : Net profit attributable to owners of the Company Direct Cost Transport & Sub-Contract 15% Employee expense 16% Depreciation 21% Others 19% Utilities 9% Rental expense 8% Revenue sharing 9% Repair & Maintenance 2% Travelling expense 1% SG&A Employee expense 63% Depreciation 7% Others 19% Selling expense 3% Travelling 3% Consult 4% Rental 1% 2Q16 Net profit* dropped from lower sales due to two general warehouses renovation and lower seafood stock for cold storage SG&A expenses increased resulted from one-time administrative expenses, e.g., expenses from tax assessment, as well as business development expenses, e.g., financial and legal advisors Net profit margin dropped to 4.8% Lower interest expense to sales of 3.9% Note : Proforma FS Year

20 Financial Position Statement of Financial Position Cash Flows Unit : MM THB 4, , , ,136.3 Current Assets ,082.9 Current Liabilities Investment Properties , ,271.6 Long-Term Loans Other Non-Current Liabilities PPE 2, ,640.7 (Unit : MM THB) Cash and Cash Equivalents at 1 January Operating Activities Investing Activities (231.4) (129.5) Financing Activities (209.4) , ,675.3 Shareholder's Equity Net Increase / (Decrease) (21.7) Other Non-Current Assets Cash and Cash Equivalents at 30 June As at Dec 31, 2015 As at June 30, 2016 Key Financial Ratios Investment properties increased due to new projects under construction Long-term investment increased from acquiring the shares of common stock in Phnom Penh SEZ Plc (PPSP), Cambodia industrial estate firm Higher current liabilities resulted from short-term loan using as working capital for business operation Better liquidity and cash flows D/E maintained at 0.9x Time (x) 6.0x 5.0x 4.0x 3.0x 2.0x 1.0x 0.0x 5.1x 4.0x 3.6x 3.5x 2.9x 2.5x 1.8x 2.2x 0.9x 0.9x 0.6x 0.3x 0.3x 0.9x 0.8x Y2013 Y2014 Y2015 2Q15 2Q16 Current Ratio D/E Debt/EBITDA 20

21 III. Project Update 21

22 Short-Term Growth Dangerous Goods Sole chemical and dangerous goods service provider in Laemchabang Port area with a concession for 30 years, 17 years remaining Right to extend the concession two times, 5 years each The number of dangerous goods containers increased with CAGR of 5.8% from TEU 160, , , , , ,000 Dangerous Goods Yard Throughput 153, , , ,360 Y2012 Y2013 Y2014 Y2015 Y2016(F) 000 TEU 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - Container Throughput in Thailand 5,190 5,731 5,926 6,041 6,583 6, Y2010 Y2011 Y2012 Y2013 Y2014 Y2015 CAGR of 5.6% CAGR of -1.5% Laemchabang Port Port of Bangkok Data source : Bangkok Shipowners and Agents Association 22

23 Area Short-Term Growth (Cont d) Automotive Yard Higher margin from expansion of on-site yard operation service and warehouse management. Area and Gross Profit Margin Total area of on-site service for Nissan and Isuzu Sq.m. reach to 273,542 Sq.m. and expected to be expand continually Strategic yard location in free-zone area at Laemchabang Port 800, , , , , , , , % 32.1% 26.7% 30.4% 156, , , , , , ,287 Y2012 Y2013 Y2014 Y2015 Y2016(F) 40.0% 30.0% 20.0% 10.0% 0.0% Gross Margin Yard Area On-Site Operation Area Gross Margin Key customers 23

24 Short-Term Growth (Cont d) Solar Roof Top for Cold Storage Building Install capacity (KwP) 624 kw, Power generation 1417 Kwh/KwP per year Investment 20.4 MB Construction expected to be completed and start using in 1Q17 Useful life for depreciation 25 years Save electricity cost more than 3 MB per year 24

25 Short-Term Growth (Cont d) JWD Chemical Supply Chain (JCS) Dangerous goods storage warehouse area of 6,900 Sq.m. Under renovation of general warehouse in Laemchabang Complex Area Provide value added services of dangerous goods & chemicals supply chain management: sorting, repacking, labeling Renovation start: Jan 2016 Start operation July

26 Short-Term Growth (Cont d) JWD Chemical Supply Chain (JCS) First shipment in July 2016 System Testing 26

27 Short-Term Growth (Cont d) LCL Consolidation Hub Provide service for Less-Than-Container-Load (LCL) Freight LCL Consolidation Hub in existing free-zone area Operation expected to be started in 3Q16 LCL Consolidation Hub Client 1 Client 2 Client 3 27

28 Mid to Long-Term Growth Laos Warehouse/ Cold Storage Warehouse s construction complete in Dec 2015 Start operation in Jan 2016 Initial area of 720 Sq.m. Wattay Airport Sisattanak District 28

29 Mid to Long-Term Growth (Cont d) New warehouse in Laos Joint venture with local partner, major distributor of BJC in Laos Wattay Saysetha District Warehouse s construction starts 3Q16 and expect to be completed in 1Q17 Start operation in 1Q17 Initial area of 3,354 Sq.m. 29

30 Mid to Long-Term Growth (Cont d) Myanmar Warehouse/ Cold Storage Road NO. 3, Mingalardon Hlaing Thar Yar Industrial Zone Rent ready-to-operate warehouse with initial area of 1,000 Sq.m. Operation start: 2Q16 Expand to 3,300 Sq.m. in the 2Q16 and start operation in 3Q16 30

31 Mid to Long-Term Growth (Cont d) Cambodia Warehouse/Cold Storage Road connect to highway no.5 Jin Yong Chhang Industrial Park 6 Km. from Phnom Penh Airport Warehouse area of 4,428 Sq.m., dry 3,628 Sq.m. and cold storage 800 Sq.m. Start operation 3Q16 31

32 Mid to Long-Term Growth (Cont d) Cross-Border Transportation Strengthen cross-border transportation service by with local partner JV, leading Thailand-Myanmar transportation service provider Provide complete range of in-land transportation and distribution service in CLMV countries and Malaysia Operation started June

33 Potential Growth Domestic E-Commerce logistics Logistics through new mode of transportation Expanding scope of service and customer base for automotive logistics Transportation of specialized product 33

34 Potential Growth (Cont d) Overseas JV and M&A with local partners in the region Green field chemicals project in the region - Cold Storage in Vietnam - Cold Storage in Malaysia 34

35 Potential Growth (Cont d) Overseas Acquire 5.2% stake in PPSP, developer of Cambodia s largest industrial estate 35

36 Potential Growth (Cont d) Domestic & Overseas Restructuring wide range of assets into REITs 36

37 Other Issues : Major Shareholders As of 10/03/2016 As of 28/07/2016 No. Shares % Shares No. Shares % Shares นายชวน นทร บ ณฑ ตกฤษดา 125,338, ,074, นางพ มลท พ บ ณฑ ตกฤษดา 75,755, ,784, นายจ ตช ย น ม ตรป ญญา 54,719, ,023, นางอ จฉรา น ม ตรป ญญา 54,719, ,923, น.ส.อมรพรรณ บ ณฑ ตกฤษดา 58,450, ,653, น.ส.ปณดา บ ณฑ ตกฤษดา 22,256, ,835, น.ส.อรวรรณ วรน จ 22,136, ,327, น.ส.เสาวณ ย อภ ว นทน โอภาศ 20,869, ,478, น.ส.เพ ญประภา รวมไมตร 20,000, ,000, ,245, ,100,

38 Other Issues : Free-Zone Operation Procedures Customs Department Free-Zone Area Customs Department Check and verify of the declaration and other related documents from eligible free-zone users Inspection and release of cargo Responsible for warehouse management activities Check and verify of the declaration Receive payment of import duties and taxes Inspect and release of cargo 38

39 THANK YOU JWD InfoLogistics Public Company Limited 222 Krungthep Kreetha Road, Huamark, Bangkapi, Bangkok Tel: Fax: For further information, please contact 39

40 Disclaimer The information contained in this presentation is strictly confidential and is prepared and provided by JWD InfoLogistics PCL (the Company or JWD ) to you solely for your reference. By viewing all or part of this presentation, you are agreeing to maintain absolute confidentiality regarding the information disclosed in this presentation. By attending this presentation, you are agreeing to be bound by the restrictions setout below. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. Neither this presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your organization or elsewhere. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the Company and its respective affiliates or advisors. Although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company and its subsidiaries. None of the Company nor any of its respective affiliates or advisors nor any of its or their respective members, directors, officers, employees or affiliates make any representation or warranty (express or implied) regarding, nor assumes any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein. Accordingly, none of the above nor any other person accepts any liability (in negligence, or otherwise) for any loss arising from or in connection with any use of this presentation or its contents. In addition, this presentation contains financial information and result of operation, and may contain certain projections, plans, strategies, and objectives of the Company, that are not statements of historical fact which would be treated as forward looking statements that reflect the Company s current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the Company and its directors. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. Such forward-looking statements are not guarantees of future performance and accordingly, the actual results, financial condition, performance or achievements of the Company may differ materially from those anticipated by the Company in the forward looking statements. In providing this document, the Company does not undertake to provide you with access to any additional information or to update the information contained in the document or to correct any inaccuracies therein which may become apparent. 40