Ananda Development Public Co. Ltd. · SET:ANAN
Ananda Development Public — Q3 2018 Earnings Presentation
31 slides from Ananda Development Public's earnings presentation, Nov 14, 2018
Slide 1: 3Q2018 Analyst Meeting and Business Plan
3Q2018 Analyst Meeting and Business Plan
Slide 2: Disclaimer
Disclaimer The information (“Confidential Information”) contained in this presentation is strictly confidential and is provided by Ananda Development Public Company Limited (the “Company”) to you solely for your reference. Neither this presentation nor any part thereof may be (i) used or relied upon
Slide 3: 3Q2018 Key Highlights
3Q2018 KEY HIGHLIGHTS ALL TIME HIGH 22,436 TRANSFERS 11,837 267 % 6,759 GROWTH YOY 8,208 173 % 3,229 75 % GROWTH YOY GROWTH QOQ EARNINGS PERFORMANCE ALL TIME HIGH 1,455 SHARE OF 982 PROFIT FROM 539 JV -113 -471 2,000 21% 25% 1,200 36% 40% 20% NET PROFIT & 1,000 1,500 UNIT: M BAHT %NET MARGIN 800 24%
Slide 4: 3Q2018 Financial Statement
3Q2018 FINANCIAL STATEMENT 3Q2018 2Q2018 3Q2017 % Q-o-Q % Y-o-Y M Baht % M Baht % M Baht % Total revenue 2,697 100% 2,426 100% 2,759 100% 11% -2% Revenue from sale of real estate 1,475 55% 1,534 63% 1,692 61% -4% -13% Project management and commission income 552 20% 431 18% 611 22% 28% -10% Construc
Slide 5: 9M2018 Financial Statement
9M2018 FINANCIAL STATEMENT 9M2018 9M2017 % Y-o-Y M Baht % M Baht % Total revenue 7,943 100% 8,825 100% -10% Revenue from sale of real estate 4,862 61% 5,931 67% -18% Project management and commission income 1,480 19% 1,577 18% -6% Construction income 1,098 14% 746 8% 47% Other incomes 503 6% 571 6%
Slide 6: 3Q2018 Financial Statement
3Q2018 FINANCIAL STATEMENT 3Q2018 2Q2018 3Q2017 % Q-o-Q % Y-o-Y M Baht M Baht M Baht Cash balance and equivalent 2,423 1,585 1,461 53% 66% Assets 40,125 35,504 27,019 13% 49% Interest bearing debts 17,781 17,274 11,480 3% 55% Liabilities 23,244 21,642 15,041 7% 55% Shareholders' equity 16,881 13,862
Slide 7: 2018 Transfer Target
2018 TRANSFER TARGET 38,000 MILLION BAHT 93 % CONDOMINIUM 152 % 7 GROWTH 2017 ALL TIME HIGH % HOUSING 33 % ABOVE 267 % GROWTH GUIDANCE YOY Transfer 1Q18A 2Q18A 3Q18F 3Q18A 4Q18F 9M18A 2018F Condo 1,342 993 956 878 1,288 3,212 4,500 Housing 511 542 960 597 1,040 1,650 2,690 Ananda F/S 1,853 1,534 1,9
Slide 8: 2018 Transfer Target
2018 TRANSFER TARGET 71 10 % NEW CONDO PROJECTS OF TRANSFERS THAT COMPLETE THIS COMING FROM YEAR Transfer Begins 1Q18 2Q18 3Q18 4Q18 8
Slide 9: Ideo Sukhumvit 93 Begins Transfer in Q3
IDEO SUKHUMVIT 93 BEGINS TRANSFER IN Q3 Project Value Backlog Unsold Inventory Transfer %Net Sold %Transfer (M Baht) (M Baht) (M Baht) (M Baht) 6,360 91.1% 2,451 564 3,345 52.6% 9
Slide 10: Presales Update by Quarter
PRESALES UPDATE BY QUARTER 35,120 MILLION BAHT 11 % HOUSING 5% ABOVE GUIDANCE 89 % CONDOMINIUM PRESALES 1Q18A 2Q18A 3Q18F 3Q18A 4Q18F 2018F CONDOMINIUM 5,848 9,793 6,709 7,038 8,438 31,117 HOUSING 834 825 1,054 1,144 1,200 4,003 TOTAL (MILLION BAHT) 6,685 10,618 7,764 8,182 9,638 35,120 10
Slide 11: 9M2018 Presales Performance
9M2018 PRESALES PERFORMANCE 25,482 28 % INTERNATIONAL MILLION BAHT 7,019 MILLION BAHT 9,775 INTERNATIONAL 7,019 SALES 6,146 1,235 1,256 1,730 3,111 72 % DOMESTIC 2013 2014 2015 2016 2017 9M2017 9M2018 18,464 MILLION BAHT 11
Slide 12: 2018 Project Launches by Quarter
2018 PROJECT LAUNCHES BY QUARTER 26,742 MILLION BAHT 12 PROJECTS 5 JOINT VENTURE PROJECTS NO. LAUNCH BEGINS 1Q18A 2Q18A 3Q18F 3Q18A 4Q18F 2018F Condo 4,325 6,822 5,086 5,123 5,573 21,843 Housing - 401 3,607 3,684 814 4,899 TOTAL (MILLION BAHT) 4,325 7,223 8,694 8,807 6,387 26,742 NO. OF CONDO PROJEC
Slide 13: 2018 Project Launch Target
2018 PROJECT LAUNCH TARGET 26,742 MILLION BAHT 82 % CONDOMINIUM 12 6 PROJECTS 5 PROJECTS JOINT VENTURE PROJECTS 42,450 92% OF CONDO LAUNCH 26,742 2013 2014 2015 2016 2017 2018 18 % HOUSING 6 PROJECTS 13
Slide 14: New Launches in Q3
NEW LAUNCHES IN Q3 Ideo Ratchada-Sutthisan Elio Sathorn-Wutthakat Project value (M Baht) 1,721 Project value (M Baht) 3,403 No. of unit 410 No. of unit 1,161 Soft launched date September 2018 Soft launched date September 2018 Expected transfer date 2020 Expected transfer date 2020 Location 450 m. fr
Slide 15: New Launches in Q3
NEW LAUNCHES IN Q3 Unio Town Srinakarin-Bangna Unio Town Suanluang-Patthanakan Project value (M Baht) 889 Project value (M Baht) 628 No. of unit 248 No. of unit 170 Soft launched date September 2018 Soft launched date September 2018 Expected transfer date 2018 Expected transfer date 2018 Location 2.
Slide 16: New Launches in Q3
NEW LAUNCHES IN Q3 Airi Rama 2 Airi Chaengwatthana Project value (M Baht) 1,023 Project value (M Baht) 1,145 No. of unit 79 No. of unit 85 Soft launched date September 2018 Soft launched date September 2018 Expected transfer date 2018 Expected transfer date 2019 Location Rama 2 Road Location Chaengw
Slide 17: New Launches in Q4
NEW LAUNCHES IN Q4 Ideo Mobi Sukhumvit Eastpoint Unio Town Suksawat 30 Project value (M Baht) 5,573 Project value (M Baht) 814 No. of unit 1,162 No. of unit 209 Soft launched date November 2018 Soft launched date December 2018 Expected transfer date 2020 Expected transfer date 2019 Location 250 m. f
Slide 18: Big Backlog
BIG BACKLOG Backlog 88% of the fourth 49.4 Bn Baht quarter of 2018 transfers secured by backlog 18,238 MILLION BAHT 15,309 MILLION BAHT 13,746 MILLION BAHT 8,143 8,109 6,508 7,785 5,978 7,200 2,127 MILLION BAHT 2,310 2,127 498 762 2018 2019 2020 2021 Ananda's Backlog - Condo Ananda's Backlog in JV -
Slide 19: Customers' Profile by Payment Methods
CUSTOMERS’ PROFILE BY PAYMENT METHODS TRANSFERS (MB) 9,598 15,866 15,098 22,436 43 100% % 90% CASH 80% 9M2018 70% 60% 24 %DOMESTIC 50% 19 %INTERNATIONAL 40% 30% 20% 57 % MORTGAGE 10% 9M2018 0% 2015 2016 2017 9M2018 19
Slide 20: New Funding
NEW FUNDING Perpetual Bonds Common Shares Successful perpetual First mover to issue shares bonds raising of in JV structure up to 2 billion Baht in 2018 1 billion Baht with Thai President Foods Group for a strategic partner *3 Joint Venture Projects including Ideo Mobi Rangnam, Ideo Q Sukhumvit 36 a
Slide 21: 3Q2018 Summary
3Q2018 SUMMARY ❖ Transfers grew 267% YoY ❖ Big backlog – 49 Bn Baht ❖ Transfers beat guidance by 33% ❖ Successful launches ❖ Net Profit grew 67% QoQ and 593% YoY ❖ Ideo Sukhumvit 93 transferred ahead ❖ Net Profit Margin rose from 5% to 36% YoY schedule of the fourth quarter ❖ Presales beat guidance
Slide 22: Recurring Income
RECURRING INCOME INCREASE RECURRING INCOME OVER 5 YEARS 1,700 MILLION BAHT 2017 2022 REVENUE FIRST SERVICED APARTMENT SITE ACQUIRED
Slide 23: Recurring Income: Serviced Apartments
RECURRING INCOME: SERVICED APARTMENTS ASCOTT ASCOTT EMBASSY SOMERSET LYF NEW PROJECT AT THONGLOR SATHORN RAMA 9 SUKHUMVIT 8 PATTAYA Draft PROJECT VALUE 12,000 MILLION BAHT 23
Slide 24: New Serviced Apartment: Pattaya
NEW SERVICED APARTMENT: PATTAYA Draft 24
Slide 25: 2018 Summary
2018 SUMMARY 2013 2014 2015 2016 2017 Item 2018 Guidance Actual Actual Actual Actual Actual Transfers1 (M Baht) 8,808 9,678 9,598 15,866 15,098 35,000-41,000 Launches (M Baht) 34,213 14,954 34,828 20,693 42,450 26,000-28,000 Presales (M Baht) 21,083 20,898 26,235 25,175 34,920 34,000-36,000 Gross Pr
Slide 26: Thank You
Scan QR Code to talk to Ananda IR Chatbot Thank You Contact: Dr. Chaiyuth Chunnahacha Mr. Komsan Atthaphonphithak Chief Financial Officer Senior Investor Relations Manager Ananda Development Public Company Limited Ananda Development Public Company Limited chaiyuth@ananda.co.th komsan@ananda.co.th +6
Slide 27: Current Projects as of September 2018
CURRENT PROJECTS AS OF SEPTEMBER 2018 Unsold Updated: Sep 30, 2018 Value Backlog Project Launched Type %Net Sold Inventory %Transfer (M Baht) (M Baht) (M Baht) ADO: Atoll (Housing) Feb-13 Housing 3,221 38.1% 56 1,993 36.4% AD18: Ashton Asoke (JV) Sep-14 Condo 6,719 74.9% 1,725 1,684 49.3% AD17: Ideo
Slide 28: Current Projects as of September 2018 (Cont.)
CURRENT PROJECTS AS OF SEPTEMBER 2018 (CONT.) Unsold Value % Net Backlog Updated: Sep 30, 2018 Project Launched Type Inventory %Transfer (M Baht) Sold (M Baht) (M Baht) AD19: Ideo Q Victory (JV) Jun-17 Condo 3,208 97.9% 3,142 67 - AD20: Ashton Asoke-Rama 9 (JV) Jun-17 Condo 6,514 77.1% 5,019 1,495 -
Slide 29: % SG&A to Revenue Including Transfer Share in JV
% SG&A TO REVENUE INCLUDING TRANSFER SHARE IN JV 19% 18% 18% 17% 16% 15% 14% 13% 12% 12% 11% 11% 10% 9% 3Q17 2Q18 3Q18 29
Slide 30: Cancellation Rates: Normal Range
CANCELLATION RATES: NORMAL RANGE 6.0% 5.0% 4.0% 3.0% 2.0% 2.0% 1.0% 0.0% 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 31.0% 26.0% 21.0% 22.6% 16.0% 11.0% 6.0% 1.0% 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 6.0% 5.0% 4.0% 3.0% 2.5% 2.0% 1.0% 4Q15 1Q16 2Q16 3Q16 4Q16 1
Slide 31: Mortgage Rejection Rates: Normal Range
MORTGAGE REJECTION RATES : NORMAL RANGE 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.8% 2.0% 0.0% 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 35.0% 32.5% 30.0% 25.0% 20.0% 15.0% 10.0% 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 16.0% 11.0% 6.0% 4.4% 1.0% 4Q15 1Q16 2Q16 3Q16 4Q1
Ananda Development Public Company — Q3 2018 Earnings Presentation on 6ix