WHA Utilities and Power Public Company Limited · SET:WHAUP
WHA Utilities and Power Public — Q2 2018 Earnings Presentation
32 slides from WHA Utilities and Power Public's earnings presentation, Aug 21, 2018
Slide 1: Opportunity Day 2Q2018 Results
Opportunity Day 2Q2018 Results 21 August 2018
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in WHA Utilities & Power Public Company Limited (“WHAUP” and shares WHAUP
Slide 3: Agenda
Agenda I. Company Profile II. Utilities Business III. Power Business IV. Operating and Financial Performance V. Outlook 2018F Appendix 3
Slide 4: Vision & Mission
I. Company Profile Vision & Mission “To be Asia's leader in Utilities and Power providing total solutions to partners with good corporate governance as well as environmentally and socially friendly VISION operations” • To develop world class utilities and power solutions fitting customer's needs • T
Slide 5: WHAUP is the Flagship Company in Utilities and Power Business of WHA Group
I. Company Profile WHAUP is the Flagship Company in Utilities and Power Business of WHA Group #1 Logistics developers #1 Industrial Estate Exclusive utilities provider To be one-stop service Developer in the industrial estates for Data Center developer Built-to-Suit (BTSW): and provider by
Slide 6: Business Overview
I. Company Profile Business Overview Utilities Business Power Business Sole provider of utilities to manufacturers/ factories in leading Active power investor with strategic partnership with leading Thai industrial estates with a concrete plan to capture increasing and international power companies
Slide 7: Agenda
Agenda I. Company Profile II. Utilities Business III. Power Business IV. Operating and Financial Performance V. Outlook 2018F Appendix 7
Slide 8: Utilities Business – Business Strategies
II. Utilities Business Utilities Business – Business Strategies 1 To extend our leadership in Industrial Estate Utilities Business • Continue to build up our reputation and trust by improving our service quality and enhancing our research and development (R&D) • Leverage on exclusivity for existing
Slide 9: Utilities Business – Business Strategies
II. Utilities Business Utilities Business – Business Strategies 5Y Aspiration Current Positioning Domestic: Integrated solutions to industrial market, expansion to other market segments Thailand’s leader in industrial water businesses provides 100 million m3 per year of Industrial with world-class o
Slide 10: Agenda
Agenda I. Company Profile II. Utilities Business III. Power Business IV. Operating and Financial Performance V. Outlook 2018F Appendix 10
Slide 11: Power Business - Business Strategies
III. Power Business Power Business - Business Strategies Conventional Power 1 To leverage on our extensive strategic partnership with leading developers namely GLOW, GULF, BGRIMM, and continue to enlarge our alliances network Alternative Power 2 To be competent developer in Alternative Power with fo
Slide 12: Power Business - Growing Portfolio
III. Power Business Power Business - Growing Portfolio Continuing Growth from Projects Under Construction and Projects in Pipeline CAGR 2016-2019 Over 200 MW of solar opportunities from over 2 million sqm logistics roof areas 16.5% under WHA/WHA Management 552.8 MW 520.5 MW 32.3 478.4 MW 10 GNLL2 CC
Slide 13: Power Business - Potential Growth
III. Power Business Power Business - Potential Growth “Developer” in Power and Energy Businesses Conventional - IPP : Glow IPP, Gheco-One , Houay Ho Hydropower in Lao PDR Power - SPP : 7 SPPs in operation & 1 SPPs under construction - Solar Rooftop : 2.6 MW sale to grid & 0.9 MW WHA KM.3 private-sal
Slide 14: Power Business - Well-balanced and High Stability Portfolio
III. Power Business Power Business - Well-balanced and High Stability Portfolio Conventional Power: 537.0 Equity MW Secured Highly reliable off-taker (EGAT) Long-maturity Portfolio By Type of Power Plant By Type of Sourcing Industrial Users, 8% Maturity < 20 53% Analysis IPP Coal 43% PortfolioAnalys
Slide 15: Agenda
Agenda I. Company Profile II. Utilities Business III. Power Business IV. Operating and Financial Performance V. Outlook 2018F Appendix 15
Slide 16: Financial Highlight 2Q'18
IV. Operating and Financing Performance Financial Highlight 2Q’18 2Q’18 YoY Remark Revenue from Sales and Services 1) Higher Sales Volume mainly from COD (Utilities Business) 423.5 4.4% of 5 SPPs and existing customers 1) Foreign Exchange Loss of (315.3) MB Share of Profit and Dividend Income in 2Q’
Slide 17: Financial Highlight 1H'18
IV. Operating and Financing Performance Financial Highlight 1H’18 1H’18 YoY Remark Revenue from Sales and Services 1) Higher Sales Volume mainly from COD of (Utilities Business) 845.4 6.5% 5 SPPs and existing customers 1) Foreign Exchange Loss of (64.7) MB in 1H’18 Vs Gain 338.9 MB in 1H’17 2) In 1H
Slide 18: Utilities Business Performance
IV. Operating and Financing Performance Utilities Business Performance Utilities Portfolio Growth – Sale & Management Volume Million m3/ year WWT +4% YoY 120 100 RW +7% YoY 100 82 IW +11% YoY 80 34 49 53 60 17 32 34 13 17 18 40 31 8 9 20 43 49 31 32 34 24 26 0 2013 2014 2015 2016 2017 1H'17 1H'18 In
Slide 19: Utilities Business Performance
IV. Operating and Financing Performance Utilities Business Performance Revenue from Sales and Services Gross Profit Margin Units: THB mm Quarter YTD 35.3% 33.1% 29.5% 27.4% 25.8% 27.9% 30.4% 26.9% 845.4 793.5 4.4 32.3 80.7 2014 2015 2016 2017 76.3 137.2 Quarter YTD 127.4 423.5 405.5 3.0 34.0% 33.1%
Slide 20: Power Business Performance
IV. Operating and Financing Performance Power Business Performance GHECO-One HHPC Energy Dispatch Availability Energy Dispatch GWh % AF GWh 95.6% 2,760 253 78.6% 231 2,273 1H'17 (A) 1H'18 (A) 1H'17 (A) 1H'18 (A) 1H'17 (A) 1H'18 (A) GNLL Gulf VTP Energy Dispatch Availability Energy Dispatch Availabil
Slide 21: Power Business Performance
IV. Operating and Financing Performance Power Business Performance Gulf TS1 Gulf TS2 Energy Dispatch Availability Energy Dispatch Availability GWh % AF GWh % AF 100.0 440 99.5% % 432 1H'17 (A) 1H'18 (A) 1H'17 (A) 1H'18 (A) 1H'17 (A) 1H'18 (A) 1H'17 (A) 1H'18 (A) * Gulf TS1 started commercial operati
Slide 22: Power Business Performance
IV. Operating and Financing Performance Power Business Performance Share of Profit and Dividend Income total at Baht 296.8 million Units: THB mm Quarter YTD Included insurance claims of 144.0 MB Included insurance • Completion of Gulf VTP claims of 107.3 MB 971.6 956.1 COD in May 2017 • Completion o
Slide 23: Total Revenue (Revenue + Share of Profit and Dividend)
IV. Operating and Financing Performance Total Revenue (Revenue + Share of Profit and Dividend) Unit : THB mm Quarter YTD 1,765.1 1,801.5 971.6 956.1 -1.6% 1,101.4 720.3 695.9 296.8 -57.3% 793.5 845.4 +6.5% 405.5 423.5 +4.4% 2Q'17 2Q'18 1H'17 1H'18 Revenue from Sales and Services Share of Profit and
Slide 24: Consolidated Performance
IV. Operating and Financing Performance Consolidated Performance Consolidated EBITDA/1 and EBITDA Margin Consolidated Net Profit/2 and Net Profit Margin/3 Unit : THB mm Unit : THB mm Quarter YTD Quarter YTD 1800.0 80.0% 2500.0 100.0% 1600.0 53.9% 72.5% 73.3% 55.2% 60.0% 1800.0 100.0% 72.3% 1800.0 80
Slide 25: Capital Structure and leverage ratio
IV. Operating and Financing Performance Capital Structure and leverage ratio Statement of Financial Position Debt Maturity Profile Unit : THB mm Unit : THB mm 21,378 22,845 22,845 21,378 12,577 12,815 4,000 871 744 2,390 7,930 9,286 1,290 1,320 0 0 2017 2 2018 2019 2020 2021 2022 2023 2024 2025 1 3
Slide 26: Agenda
Agenda I. Company Profile II. Utilities Business III. Power Business IV. Operating and Financial Performance V. Outlook 2018F Appendix 26
Slide 27: 2018 Plan: Utilities Business
V. Outlook 2018F 2018 Plan: Utilities Business Extend our Leadership in Industrial Estate Utilities Current Products/Services in Existing WHA ID’s IEs Business To continuously build up reputation and trust by improving service quality and enhancing R&D Continue Expanding Markets HESIE3 To grow w
Slide 28: 2018 Plan: Power Business
V. Outlook 2018F 2018 Plan: Power Business Leverage WHA Group’s Resources and Customer Base To capture huge opportunity from IE roof and over 2 million sqm logistics roof areas - Offering service to customers - Exploring solar rooftop opportunity outside WHA ID IEs Exploring municipal waste to e
Slide 29: 2018 Outlook – Visible Growth From Both Businesses
V. Outlook 2018F 2018 Outlook – Visible Growth From Both Businesses UTILITIES AND SALES MANAGEMENT VOLUME Revenue growth will come from enlargement of sales and management volume Demand increase from new land sales customers 100 109 Million M3 Higher consumption from current Million M3 customers’ bu
Slide 30: Agenda
Agenda I. Company Profile II. Utilities Business III. Power Business IV. Operating and Financial Performance V. Outlook 2018F Appendix 30
Slide 31: Shareholders and Management Structure
Appendix Shareholders and Management Structure Shareholding Structure Board of Directors Foreign Institutions, Retail, Mr. David Richard Nardone 1% 13% Ms. Jareeporn Jarukornsakul Chairman of Board of Directors Director Domestic Institutions, 12% WHA Group, Mr. Vivat Jiratikarnsakul Mr. Wisate Chung
Slide 32: Power Business - Well-Balanced Portfolio with Strategic Location
Appendix Power Business - Well-Balanced Portfolio with Strategic Location Operating Plants Samutprakarn Alternative Power Huoay Ho Glow IPP WHA Gunkul Hydropower IPP Combined Cycle IPP Total MW : 152.0 MW Total MW : 713.0 MW WHA ESIE 1 Solar VSPP COD in 1999 COD in 2003 Total MW : 3.
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