Ttw Public Company Limited · SET:TTW
Ttw Public — Debt Investor Presentation (July 2025)
27 slides from Ttw Public's debt investor presentation, Jul 8, 2025
Slide 1: TTW Public Company Limited Fixed Income Investor Presentation
TTW Public Company Limited Fixed Income Investor Presentation 8 July 2025
Slide 2: Agenda
Agenda C1 Company Overview 2 Operating and financial performance 3 Acquiring Ordinary Shares in LPCL Investment Highlights & 4 Proposed Offering and Timeline 2
Slide 3: Company Overview – Key Milestone
Company Overview – Key Milestone Sep’19 : Percentage in Unit: MB Sep’00 : CKP Shares 24.98% 3,500 Company established & Entered into WPSA(*) with PWA May’15 : Increased CKP Shares & Mar’20 : COVID-19 3,000 Jan’04 : Oversubscribed to 25.31% CKP Shares Outbreak (Pandemic) First Day of Sale (Design Cap
Slide 4: Company Overview – Board of Directors & Management
Company Overview – Board of Directors & Management Dr. Thanong Mr. Phongsarit Ms. Walainut Mr. Somkiat Mr. Phakpoom Mr. Pipat Bidaya Tantisuvanitchkul Trivisvavet Pattamamongkolchai Thaweewittayarut Katikul • Independent Director • Director • Director • Deputy Managing • Deputy Managing • Deputy Man
Slide 5: Company Overview - Shareholder Structure / Three Businesses
Company Overview - Shareholder Structure / Three Businesses Shareholder Structure Three Businesses TTW Public Company Limited MITSUI, 25.98% CK, 19.40% BEM, 18.47% Others, 36.15% Produces and Distributes Tap water TTW Public Company Limited Produces and distributes tap water 3,990 MB. Registered Cap
Slide 6: Company Overview – Current Project
Company Overview – Current Project 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044 TTW 30-year PTW 10-year (#1) The Right to negotiate (#2) for a 10-year lease again. BIE 30-year *Design Cap. 440,000 m3/Day *Starting at 100,000 m3/Day Banglen
Slide 7: Company Overview - Location
Company Overview - Location ▪ 3 Companies Bangpa-in Phra Nakhon Industrial Estate ▪ 5 Locations in Water Business (BIE, Ayutthaya) Sri Ayutthaya (BIE) Pathum Thani Water Pathum Thani Treatment Plant (PTW) (PTW, Pathum Thani) Nakhon Pathom (TTW-Banglen) Amata City Industrial Estate Head Office (Chonb
Slide 8: Company Overview - Tap Water Production Process
Company Overview - Tap Water Production Process A protection system for aquatic animals to entering the raw water pumping process. Chemical Dosing Ultrafiltration (Membrane Tech.) UF @ Kratumban Water Treatment Plant Tha Chin River • Banglen Raw Water Intake Rapid Mixing Clarifier (Nakhon Pathom Pro
Slide 9: Company Overview - Investment in Other Business
Company Overview - Investment in Other Business Total Installed Capacity 3,640 MW 24.98% Total Equity Capacity 1,746 MW Capacity Capacity 3,360 MW Capacity 238238MW MW Equity 2942 MWMW 32 MW TTW holds 24.98% Equity 1,559 MW Equity 155 MW Hydro Power Business Co-Generation Power Business Solar Power
Slide 10: Agenda
Agenda C1 Company Overview 2 Operating and financial performance 3 Acquiring Ordinary Shares in LPCL Investment Highlights & 4 Proposed Offering and Timeline 10
Slide 11: Operating & Financial Performance
Operating & Financial Performance U-Rate TTW Sales Volume *Design Cap. 440,000 m3/Day *Starting at 100,000 m3/Day Unit: m3 76% 71% 430,000 (Daily Average) Q1’2025 Q1’2024 420,000 414,366 418,829 Banglen Water Treatment Plant Krathumban Water Treatment Plant 410,000 406,259 407,771 400,000 397,592 39
Slide 12: Operating & Financial Performance
Operating & Financial Performance U-Rate PTW Sales Volume 88% 84% (Daily Average) Unit: m3 Q1’2025 Q1’2024 Pathum Thani Water Treatment Plant 450,000 440,638 437,984 436,288 436,844 431,795 430,846 434,256 434,471 434,044 430,000 426,011 428,061 426,231 430,583 410,000 405,217 388,871 392,101 388,02
Slide 13: Operating & Financial Performance
Operating & Financial Performance U-Rate Unit: m3 BIE Sales Volume (Daily Average) 40% 43% 25,000 Q1’2025 Q1’2024 Bangpa-in Industrial Estate 24,000 23,000 22,429 22,000 21,551 21,279 21,000 20,487 20,797 20,523 20,884 20,849 19,985 19,690 20,152 20,081 21,195 20,000 20,489 20,399 19,924 19,000 19,5
Slide 14: Operating & Financial Performance
Operating & Financial Performance Consolidated - Financial Statement 2023 – 2024, Q1’2025 Total Revenue Net Profit EBITDA Unit : MB 5,848 -12.6% 5,113 4,875 -14.0% 4,191 2,932 -4.8% 2,791 1,283 1,017 669 2023 2024 Q1'2025 As of March 31st, 2025 Q1’2025 + The sales of treated water and net management
Slide 15: Operating & Financial Performance - Highlight in Q1’2025
Operating & Financial Performance - Highlight in Q1’2025 ▪ Profit (loss) sharing from investment in the associate company ▪ The finance cost decreased by 6.2 MB (17.9%) YoY. Unit: MB Q1’2025 Reduce Finance Cost Changes Q1’2024 Q1’2025 Description 31 Mar 2025 31 Dec 2024 - The long-term loan repaymen
Slide 16: Operating & Financial Performance - Consolidated Financial Position
Operating & Financial Performance - Consolidated Financial Position Financial Ratios (Unit : MB) Consolidated Financial Position Unit: (x) D/E Net D/E 50,000 As of March 31st, 2025 0.33 0.29 0.27 Total assets increased by 578.8 million baht, 40,000 or 2.9%, primarily due to the increase of additiona
Slide 17: 3-Year CAPEX Plan (2025-2027)
Operating & Financial Performance 3-Year CAPEX Plan (2025-2027) Year CAPEX Improvement of Plant of 262 mil. Baht 2025 (Q1’2025: 189 mil. Baht) 2026 - 2027 - 17
Slide 18: Agenda
Agenda C1 Company Overview 2 Operating and financial performance 3 Acquiring Ordinary Shares in LPCL Investment Highlights & 4 Proposed Offering and Timeline 18
Slide 19: Luang Prabang Hydropower Project (LPHPP)
Acquiring Ordinary Shares in LPCL Luang Prabang Hydropower Project (LPHPP) Location Luang Prabang Dam Type Run-of-River Registered Capital 41,868 MB. (4,186.8 mil. shares) Installed Capacity 1,460 MW Electricity Buyer Total Construction Period 7-year (2023 - 2029) Construction Progress 48% (As of Ma
Slide 20: LPHPP: Project Timeline
Acquiring Ordinary Shares in LPCL TTW acquired 10% of LPCL’s LPHPP: Project Timeline ordinary share End of the contract COD Construction began Construction on Jan 7, 2023 Completed Concession Agreement and PPA with EGAT for 35 years 2023 Q3’2025 2029 2030 Year Capex (mil. Baht) 2064 Q3-Q4’2025 2,920
Slide 21: Benefits of investing in LPCL
Acquiring Ordinary Shares in LPCL Benefits of investing in LPCL 1. Diversification The transaction helps the Company diversify its investment risk and mitigate its reliance on the tap water business by increasing its investment proportion in the energy sector. 2. Expanding our investment in Hydropow
Slide 22: Agenda
Agenda C1 Company Overview 2 Operating and financial performance 3 Acquiring Ordinary Shares in LPCL Investment Highlights & 4 Proposed Offering and Timeline 22
Slide 23: Investment Highlights
Investment Highlights TTW is the largest private tap water producer in Thailand. The company is actively exploring opportunities to expand its water business into neighboring countries, as well as ventures in energy and environmental sectors. As of December 31, 2024, the company maintained strong fi
Slide 24: Proposed Offering and Timeline - Indicative Structure
Proposed Offering and Timeline - Indicative Structure Issuer TTW Public Company Limited (“TTW”) Type of Security THB Senior and Unsecured Debenture without Debentureholders’ Representative Placement Methodology Placement to Institutional (PP-II) Company Rating AA-/Stable by TRIS Rating (As of 1July
Slide 25: Proposed Offering and Timeline - Tentative Timeline
Proposed Offering and Timeline - Tentative Timeline Group Roadshow Bookbuilding Subscription Date Issue Date 8 July 2025 [20] Aug 2025 [27-28] Aug 2025 [29] Aug 2025 25
Slide 26: Q&A
Q&A
Slide 27: TTW Public Company Limited Investor Relations Department
TTW Public Company Limited Investor Relations Department 30/130 Moo 12, Phuttha Monthon Sai 5 Rd, Rai Khing, Sam Phran, Nakhon Pathom, Thailand 73210 Tel : +66 2019 9490 – 3 Ext. 1108 Fax : +66 2420 6064 E-mail : ir@ttwplc.com Website : www.ttwplc.com Facebook : TTW Plc
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