Samart Corp Public Co. Ltd. · SET:SAMART
Samart Corp Public — Samart Corporation Public — FY2008 Earnings Presentation
39 slides from Samart Corp Public's earnings presentation, Mar 9, 2009
Slide 1: Samart Group 2008 Consolidated Financial Results
Samart Group 2008 Consolidated Financial Results March 9th , 2009
Slide 2: Agenda
Agenda •Samtel Group •SIM Group •Samart Group
Slide 3: Disclaimer
Disclaimer The information contained in our presentation is intended solely for your personal reference only. In addition, such information contains projections and forward-looking statements that reflect the Company’s current views are based on assumptions subject to various risks. No assurance is
Slide 4: 2008 Performance Review and Q1/09 Outlook
2008 Performance Review and Q1/09 Outlook
Slide 5: 2008 Performance Review
2008 Performance Review
Slide 6: Business Operations
Business Operations Business System Application Outsourcing Network Services IP Integration Solutions & Services Services Operate telecommunication • Operate IT and design Operate Application software Operate fully-integrated • Operate ICT service on And information technology • Installation service
Slide 7: Consolidated: Q4/2008 Performance
Consolidated : Q4/2008 Performance Consolidated : Q4/2008 Performane Description 4Q08 3Q08 change 4Q08 4Q07 change Revenue 854 730 17% 854 621 38% COGS 690 554 24% 690 477 44% % of Revenue 81% 76% 81% 77% SG&A 118 112 6% 118 111 7% % of Revenue 14% 15% 14% 18% EBITDA 176 147 20% 176 111 59% % of Rev
Slide 8: 2008 Performance Review
2008 Performance Review Consolidated : 2008 Performane Unit:Million Baht Description 2008 2007 change Revenue 2,900 2,178 33% COGS 2,235 1,568 43% % of Revenue 77% 72% SG&A 429 376 14% % of Revenue 15% 17% EBITDA 609 537 13% % of Revenue 21% 25% Net Profit 112 112 0% % of Revenue 4% 5% Key Factors R
Slide 9: Q4/07-Q4/08 Revenue
Q4/07-Q4/08 Revenue Revenue Net Profit 600 527 45 42 500 40 418 424 35 33 400 345 321 30 27 320 284 278 294 25 300 276 20 13 15 11 200 10 5 100 - Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 - Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Trading Service Net Profit
Slide 10: Major Projects in 2008
Major Projects in 2008 Signed Major Projects in 2008 Unit:Million Baht Project Revenue Recognition 2008 Project Name Total 2008 Value Q1 Q2 Q3 Q4 MOD 850 55 132 158 138 484 TOT 552 - - 15 131 146 RU 129 - - - 8 8 AOT 238 - - - - - CAT 191 - - - - - Total 1,960 55 132 174 277 638 Major Revenue in 200
Slide 11: Revenue 2008 Breakdown by BG
Revenue 2008 Breakdown by BG Outsourcing Services 16% Network Services 42% Network Services : STC SCS System System Integration : SCT Integration E-Business : STC PN TTN 25% IP Business : SIF Outsourcing Services : STC STW OASIS IP Business E-Business 12% 5%
Slide 12: Consolidated 2008 Balance Sheet
Consolidated 2008 Balance Sheet Consolidated 2008 Balance Sheet Unit:Million Baht 2008 2007 Change Cash&Cash equivalent 128 215 -41% Short Term Investment 133 136 -2% Total Current Asset 2,334 1,869 25% Total Current Liabilities 2,141 1,829 17% Total Asset 3,556 3,235 10% Total Liabilities 2,200 1,9
Slide 13: Q4/07-Q4/08 Balance Sheet
Q4/07-Q4/08 Balance Sheet 4,000 3,000 1,320 1,222 66 3,000 1,302 59 1,366 1,323 101 78 2,000 132 2,000 2,261 2,141 2,354 2,334 1,829 1,865 1,994 1,951 2,089 1,000 1,000 1,869 - - Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Current Asset Fixed Asset Current Liabili
Slide 14: Financial Ratio
Financial Ratio Current and Quick Ratio ROE and ROA 1.20 15.0% 12.5% 1.10 1.09 10.5% 1.05 1.05 1.04 10.0% 1.00 1.02 0.93 0.94 0.94 3.8% 0.8% 0.90 0.91 0.89 5.0% 4.2% 4.9% 0.0% 0.3% 0.80 1.5% 0.0% 0.0% Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Current Ratio Quick
Slide 15: 2009 Outlook
2009 Outlook
Slide 16: On going Major Projects 2009
On going Major Projects 2009 On going Major Projects Unit:Million Baht Project Backlog Revenue Recognition 2009 Project Name Total 2009 Backlog Value Dec 08 Q1 Q2 Q3 Q4 School Net 2,619 1,089 121 121 121 121 484 605 AMR 889 164 10 10 10 10 42 122 MOE 69 52 17 17 17 - 52 - RU 208 136 13 13 13 8 46 90
Slide 17: Potentially Approved Projects 2009
Potentially Approved Projects 2009 Signed in Q1/09 Unit:Million Baht Project Revenue Recognition Project Name Subsidiaries Total 2009 backlog Value Q1 Q2-Q4 IP CORE SCS 785 - 785 785 - SPC 50 STC 330 175 105 280 50 USO SCS 280 18 104 122 158 TOT (ควนลัง) STC 65 33 20 52 13 AMR expansion STC 24 2 22
Slide 18: Thank you Q&A
Thank you Q&A
Slide 19: SIM Group 2008 Consolidated Financial Results
SIM Group 2008 Consolidated Financial Results
Slide 20: Consolidated Performance
Consolidated Performance SIM SIM 2008 Vs. 2007 2008 2007 Change 16,000 15,478 Revenue 11,406 15,478 -26.31% 14,000 Net Income 114 303 -62.38% 11,406 12,000 Core Profit 114 303 -62.38% 10,000 EPS 0.030 0.070 -57.14% 8,000 6,000 Assets 6,252 6,273 4,000 Liabilities 3,962 3,792 114 Equity 2,290 2,481 2
Slide 21: Extra Items in 2008
Extra Items in 2008 250.00 213.80 200.00 150.00 114.00 100.00 64.70 27.40 50.00 7.70 0.00 Net Profit FX loss Loss on disposal Mark to market Recurring Profit of short-term loss on securities investment
Slide 22: Performance Highlights
Performance Highlights Revenues dropped 17.1% due to: Lower revenues from SIM due to: - Lower handset sales in domestic market - Lower ASP domestic = Bt 2,800), (international = Bt. 1,680) Consolidated Gross profit increased from 13.3% in 2007 to 16.8% in 2008 Due to: - Increased Gross margins at in
Slide 23: Consolidated Performance
Consolidated Performance SIM Balance Sheet Inventories 2008 2007 2008 >> 1,653 M. Total Current Asset Total Current Liabilities 5,539 3,933 5,452 3,787 2007 >> 1,252 M. 32% Net Working Capital 1,606 1,665 Total Asset 6,252 6,273 Total Liabilities 3,962 3,792 Retain Earning 728 893 Shareholders Equit
Slide 24: Segment Analysis
Segment Analysis Domestic Handset Mobile Solution 2008 2007 2008 2007 Revenue 7,822 11,999 Revenue 451 204 Cost 6,643 10,662 Cost 399 126 GP 1,179 1,337 GP 52 78 % 15.07% 11.14% % 11.53% 38.24% International Handset Infotainm.&Multimedia 2008 2007 2008 2007 Revenue 2,113 2,126 Revenue 730 661 Cost 1
Slide 25: Handset Sold (Units)
Handset Sold (Units) 2007 Vs. 2008 Handset Sold (Unit) 1,500,000 363,235 410,000 244,526 150,000 423,537 233,285 322,407 278,901 1,000,000 500,000 589,220 749,300 834,160 704,495 639,752 729,740 706,074 682,812 0 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Domestic H/S SIM Inter H/S
Slide 26: Handset Average Price
Handset Average Price 2008 Vs. 2007 Handset Average Price ฿8,000 6,420 ฿6,000 2,464 ฿4,000 4,104 ฿2,000 2,374 ฿0 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Domestic (Avg.Price) SIM inter (Avg. price)
Slide 27: Handset Sold 2007 Vs 2008
Handset Sold 2007 Vs 2008 3,000,000 2,855,492 2,780,061 2,500,000 2,000,000 1,500,000 1,167,761 1,258,130 Domestic Inter 1,000,000 500,000 0 2007 2008
Slide 28: International Sales
International Sales: Malaysia Bangladesh Indonesia Vietnam Handset Sales by volume 2007 Handset Sales by volume 2008 15% 14% Malay Malay 31% Indonesia Indonesia 38% 12% Laos&Cambodia Laos&Cambodia 7% Bangladesh Bangladesh 5% 43% Vietnam Vietnam 9% 4% 19% 3% India India
Slide 29: Handset sales by brand composition
Handset sales by brand composition I-Mobile Sales: Domestic Market I-Mobile Sales: Domestic Market 2008 2007 Other Other 10% 13% I-Mobile I-Mobile 90% 87% I-Mobile Sales: Total Market I-Mobile Sales: Total Market Other 9% Other 25% I-Mobile I-Mobile 75% 91%
Slide 30: Handset Road Map 1H-2009
Handset Road Map Sense 1H-2009 PDA 3G Compact size HTC diamond, TV Trend Setter Series Data card Data card + TV 3G (HSDPA) Camera Series T6T5 3G Dual SIM 3MP +TV + Dual SIM 3G GSM, TV, 3MP Multimedia Series BM28 (IM 522) 7530 BM15 3G Dual SIM 2”,VGA Dual SIM TV Dual SIM, VGA TV Dual SIM, VGA T6T3 3G
Slide 31: Highlights
Highlights Content Sales (Baht million) 740 730 720 700 680 662 Up 10% 660 640 620 2007 2008
Slide 32: Samart Corporation 2008 Consolidated Financial Results
Samart Corporation 2008 Consolidated Financial Results
Slide 33: Consolidated Performance
Consolidated Performance Samart 2008 Vs. 2007 Consolidated 2008 2007 Change 20,000 19,693 Revenue 16,286 19,693 -17.30% 18,000 16,286 Net Income 261 573 -54.45% 16,000 14,000 Core Profit 261 573 -54.45% 12,000 EPS 0.27 0.59 -54.24% 10,000 8,000 Assets 6,000 13,274 13,116 4,000 Liabilities 8,597 8,04
Slide 34: Extra Items 2008
Extra Items 2008 500.00 434.76 450.00 400.00 350.00 300.00 261.00 250.00 200.00 150.00 78.00 61.60 100.00 15.55 50.00 9.27 9.34 0.00 Net Profit FX loss Bad debt Loss on Mark to Provision for Recurring disposal of market loss obsolete Profit short-term on securities stock investment
Slide 35: Performance Highlights
Performance Highlights Revenues dropped 17.1% due to: Lower revenues from SIM due to: - Lower handset sales in domestic market - Lower ASP domestic = Bt 2,800), (international = Bt. 1,680) Revenues of Samtel & Related businesses increased 33% and 4.7% respectively Consolidated Gross profit increased
Slide 36: Performance Highlights
Performance Highlights Consol. SIM SAMTEL S&A expenses 2,271 (4%) 1,442 (4%) 411 (+13%) Interest 382 (+2%) 158 (+7%) 109 (+6%) Tax 101 (+13%) 14 (50%) 17 (55%) -Tax expenses increased at Samart (Holding Co) & Related businesses, while that of SIM & SAMTEL dropped y-o-y - Interest expenses at SIM was
Slide 37: Consolidated Performance
Consolidated Performance Samart Balance Sheet 2008 2007 Total Current Asset 8,810 8,295 Total Current Liabilities 7,132 6,307 Net Working Capital 1,678 1,988 Total Asset 13,274 13,116 Total Liabilities 8,597 8,049 Retain Earning 1,941 2,097 Shareholders Equity (Comp. Only) 3,345 3,478 Total Sharehol
Slide 38: Cambodia Air Traffic Services Up 7%
Cambodia Air Traffic Services 756 760 750 740 730 720 708 710 Up 7% 700 690 680 2007 2008
Slide 39: Kampot Power Plant
Kampot Power Plant 60 51 51 51 51 50 40 30 20 10 KPP generating 16 MWe electricity 0 Q1-2008 Q2-2008 Q3-2008 Q4-2008 as per the contract
Samart Corporation Public — FY2008 Earnings Presentation on 6ix