Thai Solar Energy Public Company Ltd · SET:TSE
Thai Solar Energy Public — Q3 2024 Earnings Presentation
28 slides from Thai Solar Energy Public's earnings presentation, Nov 26, 2024
Slide 1: Opportunity Day 3Q 2024
OPPORTUNITY DAY 3Q 2024 26 November 2024
Slide 2: Agenda
AGENDA 01 COMPANY OVERVIEW 02 HIGHLIGHTS OF 3Q 2024 03 BUSINESS OUTLOOK 04 Q&A Copyright © 2023 Thai Solar Energy Public Company Limited. All Rights Reserved
Slide 3: Company Overview
COMPANY OVERVIEW Summary of Corporate Information
Slide 4: Company Overview
COMPANY OVERVIEW Thai Solar Energy Public Company Limited (“TSE”) is a producer and supplier of renewable electricity from solar power and biomass to government and private companies. Our mission is to establish a strong presence in Thailand’s solar power industry, expand into other renewable energy
Slide 5: Company timeline 2008 to 2024 onwards
2008-2014 2015-2017 2018-2019 2020-2021 2022-2023 2024-Onwards Solar Farms & Solar Farms (JP) & Merger & Acquisition Expanding New New Private PPA Exploring Investment Solar Rooftops (TH) Biomass (TH) Investment 2020: • Start construction Project in TH 2008: Established TSE 2015: 2018: • COD Biomass
Slide 6: TSE's Projects
TSE’S PROJECTS TOTAL 41 PROJECTS AND CAPACITY 241.86 MWppa Solar PV Farms & Awarded New PPA Solar PV Rooftops Biomass Floating in TH Solar PV Farms in TH 109 MWppa – 16 Farms 14 MWppa – 14 Rooftops 22.2 MWppa – 3 Plants 88.66 MWppa – 7 Farms 8 MWppa – 1 Floating Total of 117 Mwppa- 17 Projects Copyr
Slide 7: Copyright © 2023 Thai Solar Energy Public Company Limited. All Rights Reserved
Copyright © 2023 Thai Solar Energy Public Company Limited. All Rights Reserved
Slide 8: Solar PV farms in Thailand
& a Tasvmstuus:inalng 109 MW Iwanswisu ey > > ae —— SSE-PVO1 (8 MW) SSE-PVO2 (8MW) SSE-PVO3(8MW) SSE-PVO4(8MW) SSE-PVO5(8MW) SSE-PVO6(8MW) COD SEP 2013 COD JUL 2013 COD OCT 2013 COD NOV 2013 COD NOV 2013 COD JUN 2014 = a SSE-PVO7(8MW) SSE-PVO8(8MW) SSE-PVO9(8MW) SSE-PVIO(BMW) INS (2MW) SSP (8MW) COD
Slide 9: Private PPA project
8 MW Iwaiswiguuuu _< Tasvmstuus:inalng . ® _? (Private PPA) ‘#5 diudumstag : usin aww sisi Wandv sa fdvlasvms: GauanaKassunUunsus (KIZ) ? fhavlwWuauouig: 8 MW } Cop: 25 w.n. 2021 i suuuudeyay: Private PPA argaeyen 25 0 i dagyeyr: Sun arsivaa Sed Tay uawwarsuaud sa Copyright © 2023 Thai Solar Energy
Slide 10: Solar rooftop projects list
? Valor N, ie * Tasvmstuus:inalng 14 MW IwaisuuKavm ®& doya/ asvinw4 mald mana manzsuaan matniio sonia uvinda dudumslay: TSER-RTIO TSER-RTOA TSER-RTOS TSER-RTO9 TSER-RTO2 fidvlasoms: tanUy-sivaunsi yuws unsadssA twwitned Phrae fhavlwwitauauiw.: 1.0 MW 1.0 MW 1.0 MW 1.0 MW 1.0 MW cop: Aw. 2015 0.2014
Slide 11: Solar rooftop projects
i“ a aguunaom & R 14 MW lwaisuuKavm = RT-O1 Lopburi RT-02Phrae RT-03 NakornSawan RT-O4Chumporn RT-O5 SuratThani COD SEP 2014 COD FEB 2015 COD JUN 2015 COD SEP 2014 COD DEC 2014 ~z RT-06 Nakhon SiThammarat RT-07 HatYai RT-08 Ubon Ratchathanee RT-09 Khaoyai RT-10Ekamai-Ramindra COD JUL 2015 COD OCT 20
Slide 12: Biomass projects 22.2 MW
? Eh / \, 22.2 MW IsvlwwiwavviusouIa & = er en BSW (4.6 MW) OSWI (8.8 MW) OSW2 (8.8 MW) C sigaztdga / Tasvmis BSW OSW Project #1&2 ) dudumstlag: usUN UIvAIssA ASU H1AA uSUN adams ww Laas (5Sa Aa (Iasvars | & 2) fhavmswaatadv/tauais: 6.0 MWp/ 4.6 MWppa 19.8 MWp/ 17.6 MWppa algdgyy: 200 15U 4 dau fidv
Slide 13: Highlights of 3Q 2024
HIGHLIGHTS OF 3Q 2024 pee Sen ST Seca’ {SRSSS RaSSSS SEUETS Saeacs Coo oS Coes eee SRE, ~ — LUE. CELA SRS +
Slide 14: Key Activities in 3Q 2024
KEY ACTIVITIES IN 3Q 2024 THAILAND ENERGY AWARD 2024 Copyright © 2023 Thai Solar Energy Public Company Limited. All Rights Reserved
Slide 15: Income Statement
INCOME STATEMENT Copyright © 2023 Thai Solar Energy Public Company Limited. All Rights Reserved
Slide 16: Total Revenue and EBITDA of 3Q 2024
TOTAL REVENUE AND EBITDA OF 3Q 2024 TOTAL REVENUE AND SHARE OF PROFIT FROM JV Total revenue including the share of profit from the JV, for the 3-month period of Q3 2024 was 337 MB., a decrease of 18% QoQ and 28% YoY. For the 9-month period of Q3 2024, total revenue including the share of profit from
Slide 17: Net Profit and EPS of 3Q 2024
NET PROFIT AND EPS OF 3Q 2024 NET PROFIT The Group’s net profit for the 3-month period of 2024 was 72 MB., reflecting a decrease of 16% QoQ and 40% YoY. However, there was a profit of 55 MB. from discontinued operations in Q3 2023. As a result, the YoY net profit shows an increase of 10%. For the 9-
Slide 18: D/E Ratio and ROE of 3Q 2024
D/E RATIO AND ROE OF 3Q 2024 D/E RATIO The D/E ratio at the end of Q3 2024 decreased to 1.19 times, a reduction of 13% compared to Q2 2024, and 35% compared to 1.83 times at the end of 2023. This reduction in the D/E ratio is due to the successful early redemption of debentures and long-term loans f
Slide 19: Financial Position 9M 2024
FINANCIAL POSITION 9M 2024 TOTAL ASSETS -20% TSE’s total assets were 8,196 MB., a decrease of 2,064 MB from 10,260 MB. or 20% compared to YE2023, primarily due to a reduction in cash and cash equivalents for the repayment of debentures and long-term loans. TOTAL LIABILITIES -33% The Group's total li
Slide 20: Interest Bearing Debt of Y2023 & Q3 2024
INTEREST BEARING DEBT OF Y2023 & Q3 2024 TOTAL 6,073 MB TOTAL 3,944 MB INTEREST BEARING DEBT Most of the group’s Interest bearing debt (IBD) was from debenture, and the proportion of debenture to IBD of 2Q2024 increasing by 2% from 58% at YE2023 to 60%, Because of a decrease of project finance loan
Slide 21: Business Outlook
BUSINESS OUTLOOK Summary of TSE’s Business Plan
Slide 22: Trends & Opportunities
TRENDS & OPPORTUNITIES Copyright © 2023 Thai Solar Energy Public Company Limited. All Rights Reserved
Slide 23: Trends & Opportunities of Renewable Energy in Thailand: PDP2024
TRENDS & OPPORTUNITIES OF RENEWABLE ENERGY IN THAILAND Pathway to Thailand’s new PDP2024 The Energy Policy and Planning Office (EPPO) of the Ministry of Energy has announced a public hearing for PDP2024 and AEDP2024, scheduled from June 19 to 23, 2024. According to the draft PDP2024, the plan aims t
Slide 24: Promotion of Renewable Energy under AEDP2018
TRENDS & OPPORTUNITIES OF RENEWABLE ENERGY IN THAILAND The Promotion of Renewable Energy under AEDP2018 – Electricity Sector In 2022-2023, ERC had released regulation to procure Electricity from Renewable Energy using Feed-in-Tariff (FiT) Scheme for 2024-2030. The total capacity is equal to 8,871 MW
Slide 25: Business Plan: Growth & Investment
BUSINESS PLAN : GROWTH & INVESTMENT TSE’S 3-YEARS INVESTMENT PLAN (FY2024-2026) FY2027 Onwards Healthcare Business Solar Private PPA/ The total MW to be invested in or Solar Farm (JP) Waste-to-Energy (TH) ESCO Model acquired from 2027 onwards will align with the new PDP2024 and The BOD approved the
Slide 26: Business Plan: Growth & Investment - Capacity Growth
B U S I N E S S P L A N : GROWTH & INVESTMENT CAPACITY GROWTH Copyright © 2023 Thai Solar Energy Public Company Limited. All Rights Reserved
Slide 27: Q&A
Q&A Copyright © 2023 Thai Solar Energy Public Company Limited. All Rights Reserved
Slide 28: Thank You
THANK YOU Investor Relations +(66) 2 258 4530 – 3 (#2316) info@thaisolarenergy.com www.thaisolarenergy.com
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