Bualuang Securities Public Company Limited · SET:TCAP01C2612A
Bualuang Securities Public — Q1 2011 Earnings Presentation
21 slides from Bualuang Securities Public's earnings presentation, May 3, 2011
Slide 1: Analyst Meeting 1Q2011
Analyst Meeting 1Q2011 May 3, 2011
Slide 2: Agenda
Agenda I. Securities Business Overview II. Operating Results III.Financial Updates IV.Outlook Summary This presentation contains financial information and other related information, which has been provided by the management of Bualuang Securities. Whilst all reasonable care has been taken to ensure
Slide 3: Securities Business Overview
Securities Business Overview Total market turnover: SET & MAI Total trading volume: TFEX Bt.Billion No. of Contracts:’000 5,000 4,519 8,000 7,034 7,000 4,000 6,000 3,376 3,000 3,075 5,000 3,981 4,429 4,000 2,149 3,000 2,000 1,810 1,936 2,000 1,214 1,000 1,000 0 0 2008 2009 2010 1Q2010 1Q2011 2008 20
Slide 4: Securities Business Overview
Securities Business Overview Total fund raising from IPO: SET & MAI Total NAV Private Fund & Provident Fund Bt. Million Bt. Million 581,828 18,764 600,000 574,075 20,000 375 (9) 514,528 500,000 465,296 441,720 15,000 400,000 300,000 277,209 290,372 10,000 18,389 (3) 6,717 200,000 175,481 216,501 6,1
Slide 5: Agenda
Agenda I. Securities Business Overview II. Operating Results III.Financial Updates IV.Outlook Summary 5
Slide 6: Broking Business
Broking Business Brokerage Trading Value (exclude Prop Trade) (Bt. Billion) 600.0 540.2 500.0 400.0 345.2 316.3 300.0 200.0 166.7 100.0 99.6 0.0 2008 2009 2010 1Q10 1Q11 6
Slide 7: Broking Business
Broking Business Brokerage Market Share (%) 5.00 4.79 4.86 4.50 4.47 4.36 3.98 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 2008 2009 2010 1Q10 1Q11 7
Slide 8: Broking Business
Broking Business Trading Value (Bt. Mil.) & Portion 600,000 550,832 500,000 400,000 352,670 316,337 72.8% 300,000 200,000 62.7% 73.6% 166,676 100,000 99,552 65.0% 27.2% 26.4% 66.6% 26.9% 35.0% 0 37.3% 33.4% 26.% 2008 2009 2010 1Q10 1Q11 Institutional Investors Retail Investors 8
Slide 9: Derivatives Business
Derivatives Business Derivatives Trading Volume (Contracts) 150,000 137,713 120,935 120,000 100,970 90,000 61,129 60,000 26,381 30,000 0 2008 2009 2010 1Q10 1Q11 9
Slide 10: Derivatives Business
Derivatives Business Derivatives Market Share (%) 5.00 4.70 3.93 4.00 3.62 3.05 2.91 3.00 2.00 1.00 0.00 2008 2009 2010 1Q10 1Q11 10
Slide 11: Investment Banking
Investment Banking Investment Banking Revenue (Bt. Million) 300 283 250 96 200 150 123 120 113 100 85 46 43 187 48 50 57 77 187 65 0 28 2008 2009 2010 1Q10 1Q11 Financial Advisory Fee Underwriting Fee 11
Slide 12: Private Fund Management
Private Fund Management NAV (Bt. Million) 18,000 16,000 14,805 15,553 14,000 12,000 12,185 10,876 8,180 7,984 10,000 8,000 6,218 7,403 6,000 4,000 7,539 6,625 2,000 4,658 4,782 0 2008 2009 2010 31-Mar-11 Private Fund Provident Fund 12
Slide 13: Agenda
Agenda I. Securities Business Overview II. Operating Results III.Financial Updates IV.Outlook Summary 13
Slide 14: Performance
Performance Revenues, Expenses & Net Profit (Bt. Million) 1,800 1,645 1,600 1,400 1,200 1,075 1,000 1,015 955 800 770 778 600 491 504 400 354 305 224 250 200 136 78 107 0 2008 2009 2010 1Q10 1Q11 Revenues Expenses Net Profit 14
Slide 15: Performance: Revenue Structure
Performance 5.0% 19.9% 5.7% Revenue Structure 11.6% MB. 1,800 1,644.6 1,600 11.6% 1,400 19.9% 1,200 1,075.3 4.0% 1,000 954.5 5.7% 15.0% 5.8% 10.7% 800 12.2% 7.4% 7.0% 7.7% 600 64.4% 503.9 71.9% 354.1 8.8% 400 70.1% 4.5% 24.6% 36.7% 5.4% 200 4.8% 61.2% 54.0% 0 2008 2009 2010 1Q10 1Q11 Brokerage Fees-
Slide 16: Performance: Expense Structure
Performance Expense Structure MB. 1,200 1,014.8 1,000 3.8% 9.5% 770.3 778.1 800 1.6% 11.8% 10.5% 600 9.4% 86.7% 400 87.9% 304.9 78.8% 250.3 1.7% 11.1% 10.2% 200 9.1% 88.1% 79.8% 0 2008 2009 2010 1Q10 1Q11 Operating Expenses Fees & Services Expenses Other Expenses 16
Slide 17: Performance: Financial Ratio
Performance Financial Ratio 100% 91.2% 91.7% 92.8% 90% 85.7% 82.7% 80% 70% 60% 50% 40% 30.1% 30% 29.9% 20.9% 21.9% 21.3% 20% 14.3% 15.7% 10% 9.7% 4.8% 5.9% 0% 2008 2009 2010 1Q10 1Q11 Gross Profit margin Net profit margin Return on Equity 17
Slide 18: Financial Status
Financial Status Financial Status (Bt. Million) 6,000 5,000 4,000 3,559 2,737 3,000 5,333 4,620 2,000 1,290 946 2,774 1,000 2,328 1,774 1,883 1,382 1,484 0 2008 2009 2010 31 Mar. 11 Assets Liabilities Shareholders’ Equities 18
Slide 19: Agenda
Agenda I. Securities Business Overview II. Operating Results III.Financial Updates IV.Outlook Summary 19
Slide 20: 2011 Industry Outlook
2011 Industry Outlook 1. Securities Broking - Equity - Market trading volume remains high - Broking business should benefit from higher volatility in market during 1H - More consolidation and business transformation is expected - Competition level remains high 2. Derivatives - New products(Silver /
Slide 21: 2011 Company Outlook
2011 Company Outlook 1. Securities Broking - Equity - Launched iChannel - Launched iPoint reward program 2. Broking - Derivatives - AGM approved for Baht 2 billion premium value of DW issuance - More DW to be issued 3. Investment Banking - Successful advisory services on TSR products - Strong pipeli
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