Samart Group Consolidated Financial Results

Transcription

1 Samart Group 2008 Consolidated Financial Results March 9 th, 2009

2 Agenda Samtel Group SIM Group Samart Group

3 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 given that future events will occur, that projections will be achieved, or that the Company s assumptions are correct. Actual results may differ materially from those projected.

4 2008 Performance Review and Q1/09 Outlook

5 2008 Performance Review

6 Business Operations Network Services Operate telecommunication And information technology ipstar and VSAT High-speed multimedia ;Leased Line,Frame Relay ATM and wireless. Telecommunication Installation and M&A Telecom and electronic equipment repair certified by ISO System Integration Operate IT and design Installation service contract Distribute,repair and Maintain communication equipment and computer Equipment Service for Government Agencies. Business Application Solutions & Services Operate Application software For effectiveness such as E Learning Electronic Data Interchange Workflow Management E payment solution Smart Card Outsourcing Services Operate fully-integrated ICT outsourcing service Such as ERP system ICT maintainance Computer and operation Outsourcing IP Operate ICT service on Internet Protocol (IP) such as Internet service, Voice Over Internet Protocal (VOIP), International Call Card

7 Consolidated : Q4/2008 Performance Consolidated : Q4/2008 Performane Description 4Q08 3Q08 change 4Q08 4Q07 change Revenue % % COGS % % % of Revenue 81% 76% 81% 77% SG&A % % % of Revenue 14% 15% 14% 18% EBITDA % % % of Revenue 21% 20% 21% 18% Net Profit % % % of Revenue 1% 4% 1% 2% Key Factors Revenue UP increase in Trading Revenue COGS UP increase in Trading Revenue SG&A DOWN efficiency management policy EBITDA UP increase in Trading Revenue Net Profit DOWN slightly Margin of Trading Revenue

8 2008 Performance Review Consolidated : 2008 Performane Unit:Million Baht Description change Revenue 2,900 2,178 33% COGS 2,235 1,568 43% % of Revenue 77% 72% SG&A % % of Revenue 15% 17% EBITDA % % of Revenue 21% 25% Net Profit % % of Revenue 4% 5% Key Factors Revenue UP increase in Project and Trading Revenue COGS UP increase in Trading Revenue SG&A DOWN efficiency management policy EBITDA DOWN slightly Margin of Trading Revenue Net Profit DOWN slightly Margin of Trading Revenue

9 Q4/07-Q4/08 Revenue 600 Revenue Net Profit Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Trading Service Net Profit

10 Major Projects in 2008 Signed Major Projects in 2008 Unit:Million Baht Project Name Project Revenue Recognition 2008 Value Q1 Q2 Q3 Q4 Total 2008 MOD TOT RU AOT CAT Total 1, Major Revenue in 2008 by Projects Unit:Million Baht Project Name Project Revenue Recognition 2008 Value Q1 Q2 Q3 Q4 Total 2008 School Net 2, AMR MOE RU MOD DOPA TOT MOJ Total 5, ,818

11 Revenue 2008 Breakdown by BG Outsourcing Services 16% Network Services 42% System Integration 25% IP Business 12% E-Business 5% Network Services System Integration E-Business IP Business Outsourcing Services : STC SCS : SCT : STC PN TTN : SIF : STC STW OASIS

12 Consolidated 2008 Balance Sheet Consolidated 2008 Balance Sheet Unit:Million Baht Change Cash&Cash equivalent % Short Term Investment % 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 1,960 12% Shareholders Equity (Consolidated) 1,356 1,274 6% Shareholders Equity (Only Company) 2,000 1,986 1%

13 Q4/07-Q4/08 Balance Sheet 4,000 3,000 3,000 1,366 1,323 1,302 1,320 1,222 2, ,000 1,000 1,869 1,951 2,089 2,354 2,334 1,000 1,829 1,865 1,994 2,261 2,141 - Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_ Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Current Asset Fixed Asset Current Liability Long Term Liability 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000-1,346 1,274 1,307 1,319 1,356 1,960 1,967 2,072 2,327 2,200 3,235 3,274 3,391 3,673 3,556 Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Total Asset Total Liabilities Equity

14 Financial Ratio Current and Quick Ratio ROE and ROA Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_ % 10.0% 5.0% 0.0% 12.5% 10.5% 3.8% 4.9% 0.8% 4.2% 0.0% 0.3% 1.5% 0.0% Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 Current Ratio Quick Ratio ROE ROA DE Ratio Interest Coverage Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_ Q4_2007 Q1_2008 Q2_2008 Q3_2008 Q4_2008 DE Ratio DE Ratio (LL only) Interest Coverage

15 2009 Outlook

16 On going Major Projects 2009 On going Major Projects Unit:Million Baht Project Name Project Backlog Revenue Recognition 2009 Value Dec 08 Q1 Q2 Q3 Q4 Total 2009 Backlog School Net 2,619 1, AMR MOE RU AOT DOPA TOPS MOD* TOT* MOI* CAT* Total 6,010 2, , ,820 1,034 *Projects are not specify revenue recognition in Q2-Q4 2009

17 Potentially Approved Projects 2009 Signed in Q1/09 Project Name Subsidiaries Project Value Revenue Recognition Q1 Q2-Q4 Total 2009 Unit:Million Baht backlog IP CORE SCS SPC 50 STC USO SCS TOT (ควนล ง) STC AMR expansion STC DVB-PEA STC ด แลระบบ Royalty System PN Total 1, ,064 1,

18 Thank you Q&A

19 SIM Group 2008 Consolidated Financial Results

20 Consolidated Performance SIM 2008 Vs Change Revenue 11,406 15, % Net Income % Core Profit % EPS % 16,000 14,000 12,000 10,000 8,000 11,406 SIM 15,478 Assets 6,252 6,273 Liabilities 3,962 3,792 Equity 2,290 2,481 D/E (L Debt) ,000 4,000 2, ROA (Ann.) 1.8% 4.8% ROE (Ann.) 5.0% 12.2% Revenue Net Income

21 Extra Items in Net Profit FX loss Loss on disposal of short-term investment Mark to market loss on securities Recurring Profit

22 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 international markets (due to increased portion of i-mobile handsets sold) - Increased margins on content business

23 Consolidated Performance SIM Balance Sheet Total Current Asset 5,539 5,452 Total Current Liabilities 3,933 3,787 Net Working Capital 1,606 1,665 Inventories 2008 >> 1,653 M >> 1,252 M. 32% Total Asset 6,252 6,273 Total Liabilities 3,962 3,792 Retain Earning Shareholders Equity (Comp. Only) 1,860 1,819 Total Shareholders Equity 2,290 2,481

24 Segment Analysis Domestic Handset Mobile Solution Revenue 7,822 11,999 Revenue Cost 6,643 10,662 Cost GP 1,179 1,337 GP % 15.07% 11.14% % 11.53% 38.24% International Handset Infotainm.&Multimedia Revenue 2,113 2,126 Revenue Cost 1,894 1,940 Cost GP GP % 10.36% 8.75% % 50.68% 41.60%

25 Handset Sold (Units) 2007 Vs Handset Sold (Unit) 1,500, , , , , , , , ,285 1,000, , , , , , , , , ,074 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Domestic H/S SIM Inter H/S

26 Handset Average Price 2008 Vs Handset Average Price 8,000 6,000 4,000 2, ,420 2,464 4,104 2,374 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Domestic (Avg.Price) SIM inter (Avg. price)

27 Handset Sold 2007 Vs ,000,000 2,500,000 2,000,000 2,855,492 2,780,061 1,500,000 1,000,000 1,167,761 1,258,130 Domestic Inter 500,

28 International Sales: Malaysia Bangladesh Indonesia Vietnam Handset Sales by volume 2007 Handset Sales by volume % Malay 14% Malay 12% 38% Indonesia 31% Indonesia Laos&Cambodia Laos&Cambodia 7% 9% 19% Bangladesh Vietnam India 5% 4% 3% 43% Bangladesh Vietnam India

29 Handset sales by brand composition I-Mobile Sales: Domestic Market 2008 I-Mobile Sales: Domestic Market 2007 Other 10% Other 13% I-Mobile 90% I-Mobile 87% I-Mobile Sales: Total Market Other 9% I-Mobile Sales: Total Market Other 25% I-Mobile 91% I-Mobile 75%

30 Sense Handset Road Map 1H-2009 PDA 3G Compact size HTC diamond, TV Trend Setter Series Data card 3G (HSDPA) Data card + TV Camera Series T6T5 3MP +TV + Dual SIM 3G Dual SIM 3G GSM, TV, 3MP Multimedia Series BM28 (IM 522) 2,VGA Dual SIM 7530 TV Dual SIM, VGA BM15 TV Dual SIM, VGA T6T3 2SIM (GSM+CDMA) 3G Dual SIM 3G GSM, TV, VGA 3G Dual SIM 3G GSM, TV, VGA Music Series BM29 (IM320) Slim phone, 2, VGA, MP3 M330T (IM333) BM TFT VGA, Dual SIM TV low-end, VGA, MP3 (*No BT, WAP, Memory) Hitz Series BM31 (TBC) VGA, MP3, FM Q1 Q2

31 Highlights (Baht million) 740 Content Sales Up 10%

32 Samart Corporation 2008 Consolidated Financial Results

33 Consolidated Performance Samart 2008 Vs Change Revenue 16,286 19, % Net Income % Core Profit % EPS % Assets 13,274 13,116 Liabilities 8,597 8,049 Equity 4,676 5,067 D/E (L Debt) ,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 - Consolidated 19,693 16, ROA 2.0% 4.4% ROE 5.6% 11.3% Revenue Net Income

34 Extra Items Net Profit FX loss Bad debt Loss on disposal of short-term investment Mark to market loss on securities Provision for obsolete stock Recurring Prof it

35 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 from 18.4% in 2007 to 20.7% in 2008 Due to: - Increased Gross margins at SIM - Increased margins at CATS & KPP

36 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 higher due to L/C+T/R, while that of Samtel due to increased working capital requirements - S&A expenses in Samtel were higher due to increased backlog

37 Consolidated Performance Samart Balance Sheet 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 Shareholder Equity 4,676 5,067

38 Cambodia Air Traffic Services Up 7%

39 Kampot Power Plant Q Q Q Q KPP generating 16 MWe electricity as per the contract