Bualuang Securities Public Company Limited · SET:TCAP01C2612A
Bualuang Securities Public — Q3 2010 Earnings Presentation
20 slides from Bualuang Securities Public's earnings presentation, Nov 1, 2010
Slide 1: Analyst Meeting 3Q2010
Analyst Meeting 3Q2010 November 1, 2010
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 6,000 5,000 4,771 5,000 4,272 3,981 4,429 4,000 4,000 3,151 3,075 3,058 3,000 3,000 2,241 2,149 2,092 2,000 1,351 2,000 1,237 1,135 1,000 1,000 834 0 0 2007 2008 2009 3Q09 3Q10 9
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 20,000 18,693 18,764 600,000 764 (7) 375 (9) 514,528 555,600 500,000 465,296 15,000 441,720 400,000 10,000 300,000 261,396 17,929(4) 18,389(3) 5,118 200,000 175,481 168
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 (Bt. Billion) 400.0 373.8 352.7 350.0 316.3 314.3 300.0 250.0 246.7 200.0 165.1 150.0 100.0 106.3 50.0 0.0 2007 2008 2009 3Q09 3Q10 9M09 9M10 6
Slide 7: Broking Business
Broking Business Brokerage Market Share (%) 5.00 4.42 4.45 4.48 4.50 3.98 4.08 4.15 4.00 3.68 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 2007 2008 2009 3Q09 3Q10 9M09 9M10 7
Slide 8: Broking Business
Broking Business Trading Value (Bt. Mil.) & Portion 400,000 373,761 352,670 350,000 314,262 316,337 300,000 250,000 73.6% 246,692 71.9% 61.9% 62.7% 200,000 165,113 150,000 106,286 73.5% 100,000 76.9% 73.1% 50,000 38.1% 37.3% 26.4% 28.1% 26.5% 0 26.9% 23.1% 2007 2008 2009 3Q09 3Q10 9M09 9M10 Institut
Slide 9: Derivatives Business
Derivatives Business Derivatives Trading Volume (Contracts) 210,000 187,804 178,001 180,000 150,000 120,935 120,000 100,970 87,751 90,000 69,873 75,252 60,000 30,000 0 2007 2008 2009 3Q09 3Q10 9M09 9M10 9
Slide 10: Investment Banking
Investment Banking Investment Banking Revenue (Bt. Million) 250 234 200 64 150 123 100 46 85 85 75 170 29 50 57 35 40 26 77 56 35 0 40 28 5 26 0 2007 2008 2009 3Q09 3Q10 9M09 9M10 Financial Advisory Fee Underwriting Fee 10
Slide 11: Private Fund Management
Private Fund Management NAV (Bt. Million) 16,000 14,029 14,000 11,954 12,185 12,000 10,876 10,000 7,917 5,539 8,000 7,403 6,218 6,000 4,000 6,415 6,112 2,000 4,658 4,782 0 2007 2008 2009 Sep.10 Private Fund Provident Fund 11
Slide 12: Agenda
Agenda I. Securities Business Overview II. Operating Results III.Financial Updates IV.Outlook Summary 12
Slide 13: Performance
Performance Revenues, Expenses & Net Profit (Bt. Million) 1,200 1,138 1,075 1,000 972 955 770 778 758 759 800 683 600 569 437 400 325 283 286 221 224 223 200 136 143 77 116 0 2007 2008 2009 3Q09 3Q10 9M09 9M10 Revenues Expenses Net Profit 13
Slide 14: Performance: Revenue Structure
Performance Revenue Structure MB. 1,137.5 1,200 1,075.3 972.2 954.5 8.2% 5.7% 1,000 15.0% 23.4% 12.1% 10.7% 758.0 800 12.2% 12.2% 7.4% 5.8% 4.2% 5.8% 7.0% 13.6% 600 7.7% 436.8 71.9% 325.2 12.9% 400 70.1% 64.2% 69.9% 4.4% 8.2% 72.9% 3.3% 15.8% 200 6.8% 75.6% 73.0% 0 2007 2008 2009 3Q09 3Q10 9M09 9M10
Slide 15: Performance: Expense Structure
Performance Expense Structure MB. 900 770.3 778.1 800 1.6% 758.8 683.2 4.6% 700 11.8% 10.5% 1.6% 9.4% 9.4% 568.7 12.4% 600 1.6% 10.6% 500 400 87.9% 86.0% 86.0% 78.8% 223.4 283.5 300 2.0% 87.8% 1.5% 8.8% 200 10.2% 100 89.2% 88.3% 0 2007 2008 2009 3Q09 3Q10 9M09 9M10 Operating Expenses Fees & Services
Slide 16: Performance: Financial Ratio
Performance Financial Ratio 100% 91.2% 92.0% 93.0% 90.6% 90.1% 90.8% 90% 82.7% 80% 70% 60% 50% 40% 30% 22.8% 23.6% 26.6% 25.2% 20.9% 14.3% 18.9% 18.6% 20% 15.9% 15.7% 9.7% 7.6% 10.3% 10% 5.7% 0% 2007 2008 2009 3Q09 3Q10 9M09 9M10 Gross Profit margin Net profit margin Return on Equity 16
Slide 17: Financial Status
Financial Status Financial Status (Bt. Million) 6,000 5,000 4,000 3,615 3,000 5,210 1,802 2,000 1,290 946 3,232 2,774 2,328 1,000 1,382 1,484 1,595 1,430 0 2007 2008 2009 Sep.10 Assets Liabilities Shareholders’ Equities 17
Slide 18: Agenda
Agenda I. Securities Business Overview II. Operating Results III.Financial Updates IV.Outlook Summary 18
Slide 19: 2010 Industry Outlook
2010 Industry Outlook 1. Securities Broking - Equity - Higher daily trading volume than 2009 (9MVol - Bt26,503Mil /Bt17,408 Mil) - Higher competition in both pricing and promotional campaign - A few brokers offer off-shore trading capability 2. Derivatives - More players in derivative warrant market
Slide 20: 4Q2010 Company Outlook
4Q2010 Company Outlook 1. Securities Broking - Equity - More marketing activities to both local and international institutional investors - New tools for clients (likely to launch during SET in the City) 2. Broking - Derivatives - Second issue (KTB) after the success of IVL DW - More trading activit
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