Opportunity Day: Asia Sermkij Leasing Public Co., Ltd

Transcription

1 Opportunity Day: Asia Sermkij Leasing Public Co., Ltd March 5, 2013 Prepared by Investor Relations Department Asia Sermkij Leasing Public Company Limited

2 Opportunity Day: Asia Sermkij Leasing Public Co., Ltd March 5, 2013 Prepared by Investor Relations Department Asia Sermkij Leasing Public Company Limited

3 Content 1. Company Profile 2. Industry and Business Overview 3. Financial Performance 2

4 1. Company Profile

5 Company Profile Inception Date August 17, st Trading Day August 25, 2005 Core Businesses Automobile Hire Purchase Personal Loan Floor Plan Financing Machinery & Vehicle Hire Purchase Machinery & Vehicle Leasing Domestic and International Factoring Paid-Up Capital 1,725 Million Baht Paid-Up Share 345 Million Shares Par Value 5 Baht per share Company Rating BBB+ with Stable Outlook, by TRIS Rating as at March 29, 2012 (start Rating since year 2008) 4

6 ASK Shareholding Structure Others 25.84% Directors and Management 0.91% BBL 7.35% BBL Group = 11.60% Chailease Group 65.90% Free Float : 25.84% Remark : As of Dec 31,

7 Group Structure Asia Sermkij Leasing Plc. ( ASK ) Automobile Hire Purchase Personal Loan Floor Plan Financing Other Businesses and Services 3 branches Rayong Samutsakorn Pitsanulok 99.99% Bangkok Grand Pacific Lease Plc. ( BGPL ) Paid-Up Capital Mil. Baht Machinery & Vehicle Hire Purchase Machinery & Vehicle Leasing Domestic and International Factoring 6

8 Corporate Mission and Vision Corporate Mission To identify and satisfy the financial needs of customers for their success and well-being แสวงหาและสร างความพ งพอใจ เพ อตอบสนองความต องการทางการเง น เพ อความสาเร จและความเป นอย ท ด ของล กค า To seek steady profitable growth only from areas where we have the competencies to create sustainable competitive advantages เพ อเต บโตอย างม กาไรท ม นคงในส วนธ รก จท บร ษ ทม ความเช ยวชาญ เพ อสร างความได เปร ยบทางการแข งข นอย างย งย น To pursue the best interests of all stakeholders ม งก อให เก ดผลประโยชน ส งส ด ก บผ ถ อห น ค ค า ล กค า ผ สน บสน นทางการเง น พน กงาน ตลอดจนท กฝ ายท เก ยวข อง Corporate Vision Specialized financial provider of consumer and trade finance solution to individuals and SMEs ผ ให บร การทางการเง น สาหร บส นเช อเพ อการอ ปโภคบร โภคและส นเช อเพ อการค า สาหร บล กค าบ คคลธรรมดาและธ รก จ ขนาดกลางและขนาดย อม Leader in non-pickup commercial vehicle niche market in 3 years ผ นาในตลาดเฉพาะท เป นรถยนต เพ อการพาณ ชย ท ไม ใช รถ pickup ภายใน 3 ป 7

9 Strategic Positioning Passenger car TOYOTA New Old HONDA NISSAN MAZDA MITSUBISHI New Old New Old New Old New Old Commercial Vehicles, trucks, Van, Taxi, Bus 1 ton pick up Toyota ISUZU HINO MITSUBISHI & Other Taxi Van Truck Truck Truck New Old New Old New Old New Old New Old TOYOTA ISUZU NISSAN MITSUBISHI MAZDA New Old New Old New Old New Old New Old 8

10 2. Industry and Business Overview

11 Automobile Sales Volume UNITS (x 1,000) 1600 ALL CATEGORIES % % % 12% -3% -7% 46% -3% -11% -1% % 3% -38% 30% 38% 13% % 20% 52% Total Sale Volume ,436 1,600 Source: The Federation of Thai Industries 10

12 ASK Hire Purchase Portfolio % Outstanding Value by Car Type as at Dec 31, 2012 Used Car, 22.23% Van, 24.93% Pick-up, 9.92% Taxi, 6.85% Passenger, 24.36% Truck, 33.61% New Car, 77.77% Others, 0.33% New Car Used Car Truck Taxi Van Pick-up Passenger Others 11

13 ASK Hire Purchase Portfolio % Outstanding Value by Brand as at Dec 31, 2012 Others, 13.57% Isuzu, 20.85% Benz, 9.37% Hino, 16.18% Toyota, 40.03% Isuzu Toyota Hino Benz Others 12

14 Leasing Market in Thailand Disbursement (MB) Million Baht 50,000 45,000 Y 2013, Leasing Market this year is estimated at 50,548 MB 43, % 40,000 35,000 30,000 30, % 36, % 25,000 20,000 15,000 10,000 7,504 7,490 14,389 11,285 11,622 11, % 23.81% % 46.06% 17,420 20,557 18,443 19, % 5.87% 7.39% 47.63% 5, % 50.67%

15 Domestic Factoring Market in Thailand Advance (MB) Million Baht 140, ,000 Y 2013, Domestic Factoring Market this year is estimated at 126,567 MB 110, , ,000 91, % 80,000 60,000 44,148 61,297 55, % 11.19% 79,385 68,541 72,026 75, % 5.08% 62, % 20.36% 21.07% 20.00% 40,000 20,000 24,234 24,295 27, % 14.45% 58.77% 24.87% Remark: In 2011, GSB, KTB, TMB and TCR entered into Factoring Business with competitive pricing conditions to SME customer (bank base customer) 14

16 3. Financial Performance

17 Total Disbursement Million Baht 20,000 18,000 29% 19,286 8,075 16,000 14% 14,959 14% 14,000 12,000 10,000 10,090 5,260 12% 19% 11,343 6,237 (12%) (24%) 9,944 4,746 32% 18% 13,140 5,585 26% 7,058 42% 11,211 8,000 7,555 5% 7,901 6,000 45% 4,000 4,830 6% 5,106 2% 5,198 2, BGPL ASK Consolidated 16

18 Total Revenues Million Baht 2,100 24% 2, ,800 21% 1, % 1,772 1,500 1, , % 10% 9% 1, % (16%) 10% 1, % (7%) 19% 1, ,156 20% 23% 1,421 25% BGPL ASK Consolidated 17

19 Total Expenses Million Baht 1,400 20% 1,405 1, ,170 18% 1,200 1, % 13% 6% 898 1% (6%) % 716 7% (12%) 11% % 9% 25% % 1, BGPL ASK Consolidated 18

20 Total Assets Million Baht 23,096 24,000 27% 3,496 20,000 15% 18,215 30% 21,216 16,000 12,000 8,000 10,866 2,441 8,872 10% 1% 12% 11,938 2,458 9,927 5% (17%) 11% 12,569 2,043 10,973 26% 13% 23% 15,842 2,318 13,524 16% 24% 2,699 16,808 26% 4,000 0 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 BGPL ASK Consolidated 19

21 Total Equity Million Baht 4,000 3,500 69% 3, % 3,349 3,000 2,500 2,000 1,500 4% 1,662 1, (3%) 490 1,605 5% 1,684 4% 1% 4% 1, ,745 9% 2% 8% 1, ,890 5% 4% 4% 2, ,966 70% 1, Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 BGPL ASK Consolidated 20

22 Total Portfolio Million Baht 24,000 22,786 29% 3,387 20,000 17% 17,686 27% 19,399 16,000 12,000 8,000 10,850 2,480 8,370 10% 1% 12% 11,915 2,509 9,406 4% (16%) 10% 12,429 2,106 10,323 22% 6% 25% 15,153 2,222 12,930 20% 16% 2,659 15,027 29% 4,000 0 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 BGPL ASK Consolidated 21

23 Profitability 10.00% 9.00% 8.00% 9.15% 8.87% Interest Rate Income 8.72% 8.68% 8.61% 8.74% 7.00% 6.00% Interest Rate Spread 5.00% 5.27% 4.74% 4.62% 4.76% 4.41% 4.52% 4.00% 3.00% 3.88% 4.13% 4.10% 3.92% Interest Rate Expense 4.20% 4.22% 2.00% Dec 07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 22

24 Profitability (%) Net Profit Margin ROE ROA

25 Asset Quality ADA to A/R and NPL to A/R (%) ADA to NPL (%) ADA to A/R ADA to NPL NPL to A/R

26 Compound Annual Growth Rates Y2001-Y2012 : THB million Y2001 Y2002 Y2003 Y2004 Y2005 Y2006 Y2007 Y2008 Y2009 Y2010 Y2011 Y2012 CAGR (%) Total Disbursement 2,968 3,364 4,120 5,846 7,191 8,176 10,090 11,342 9,944 13,141 14,959 19, % Total Revenues ,051 1,147 1,194 1,364 1,657 2, % Total Expenses ,170 1, % Net Profit Before Tax % Net Profit After Tax % Total Assets 3,591 4,008 4,560 6,028 7,898 9,444 10,866 11,938 12,569 15,395 18,215 23, % Total Equity ,576 1,662 1,726 1,796 1,952 2,046 3, % Total Portfolio 3,375 3,860 4,402 5,935 7,756 9,291 10,776 11,820 12,267 15,153 17,686 22, % Total NPL % Allowance for Doubtful Account % Total NPL / Total Portfolio (%) 1.81% 1.09% 0.61% 0.32% 0.44% 0.55% 0.76% 0.91% 0.75% 0.59% 0.42% 0.50% (11.03%) 25

27 Thank you 26