THAICOM Public Company Limited. Corporate Presentation March 2015

Transcription

1 THAICOM Public Company Limited Corporate Presentation March 2015

2 Agenda Thaicom Who We Are Financial Highlight Industry Outlook & Moving Forward 2

3 Who We Are 3

4 Our Company Thaicom Public Company Limited (formerly named Shin Satellite) was founded on 7 th November 1991, part of Intouch Holdings Public Company Limited His Majesty King Bhumibol Adulyadej of Thailand graciously named the first national communications satellite, THAICOM which stands for Thai Communications. 4

5 Shareholding Structure Aspen Holdings Ltd. (Temasek Holdings) 41.62% 40.45% Intouch Holdings Plc 1),2) 41.14% 52.92% 99.99% Advanced Info Service Plc 2) Thaicom PLC 2) ITV Plc. I.T. Applications and Services Co., Ltd. Satellite Services Telephone Services Abroad Internet and Media Services IPSTAR Co., Ltd % STAR Nucleus Co., Ltd % IPSTAR International Pte Ltd % IPSTAR Global Service Ltd % Shenington Investments Pte Ltd % Lao Telecom Co., Ltd % Cambodian DTV Network Ltd % DTV Service Co., Ltd % CS LoxInfo Plc. 2) 42.07% International Satellite Co., Ltd % IPSTAR New Zealand Co., Ltd % IPSTAR Japan Co., Ltd % AD Venture Public Co., Ltd 99.99% Teleinfo Media Plc % IPSTAR Australia Pty Ltd % Orion Satellite Systems Pty Ltd % TC Broadcasting co., Ltd % 1) Holding Company 2) Listed Company on the Stock Exchange of Thailand Spacecode Llc % * As of July

6 Our Business Operations Satellite: Revenue Contribution Conventional Satellite Broadband Satellite Telephone 11% Internet & Media 2% Telephone and Internet services: Regional Mobile Phone FY2014 Media and services: Platform Satellite TV Satellite 87% 6

7 Our Satellite Fleet De-orbited In-orbited Upcoming THAICOM 1A Launched: 1993 De-orbited: 2010 THAICOM 4 (IPSTAR) THAICOM 5 THAICOM 6 THAICOM 7 THAICOM 8 Concession License THAICOM 2 Launched: 1994 De-orbited: 2010 Launched Target 1H 16 Type of Satellite Broadband Conventional Conventional Fee 20.5% (Sep 2016 = 22.5% onwards) 5.25% Contract Life (Yr) 30 yr (2021) 20 yr (2032) THAICOM 3 Launched: 1997 De-orbited: 2006 Satellite Life (Yr) *Updated as of Feb 28,2015 7

8 Estimated Capacity Equivalent (TPE) Our Capacity Largest Satellite Operator in Asia Pacific (7 th Globally) Satellite Operators' Bandwidth Capacity (Estimated) 3,439 2,819 2,539 2,175 1,575 1, ViaSat Eutelsat EchoStar /Hughes Intelsat SES InmarSat Thaicom 2016 Thaicom 2014 Telesat Yahsat JSAT ABS China SatCom Note: * Thaicom's capacity Y2014 includes THAICOM 4, THAICOM 5, THAICOM 6 and THAICOM 7 satellites ** Thaicom's capacity Y2016 includes THAICOM 4, THAICOM 5, THAICOM 6, THAICOM 7 and THAICOM 8 satellites *** Other satellite operators' capacities (estimated) are as of July 2014 **** TPE = 36MHz transponder equivalent 8

9 Our Satellite Footprints 50.5E 78.5E 119.5E 120E Coverage Area TC4 TC5 TC6 TC7 TC8 TC5 (C,Ku) TC6 (C,Ku) TC8 (Ku) TC4 TC5 TC6 TC7 TC E 78.5 E 78.5 E 120 E 78.5 E C Ku C Ku C Ku C Ku C Ku Indochina SEA South Asia North Asia Australasia ME, Africa Total TPE TC4 (Ku) TC7 (C) Conventional Satellite Capacity (TPE) Note: 1. TPE = 36 MHz transponder equivalents 2. Current capacity (2015) of conventional satellites is 87 TPE. 3. TC8 capacity of 24 TPE is included in 2016.

10 Our Broadcast Services Asia s Hot Bird for Satellite TV Covering More than Million viewers or 70% of total TV HOUSEHOLDS COUNTRIES By Platform 702 Hosting* 702 (110 HD) SATELLITE TV CHANNELS No.1 in Thailand and Indochina A key player in South Asia Terrestrial Satellite Cable Source : Thaicom PLC, Value Partners, Casbaa * As of Jan

11 Our Broadband Services PRESENCE in 13 COUNTRIES 17 GATEWAYS The first and only High Throughput Satellite (HTS) in Asia Pacific 5,000 small-cell 3G sites in Japan 90,000 broadband users in Australia and New Zealand 26,000 schools & 5,500 rural telephony project sites in Thailand 6,000 communities/villages/schools in Malaysia 11

12 Awards & Distinctions Satellite Executive of the Year 2014 in the Asia-Pacific by the Asia-Pacific Satellite Communications Council (APSCC) Excellent CG Scoring 2014 Top 50 ASEAN CG Scorecard Rank #10 in Global Top Fixed Satellite Service Operators Best CEO Award for Listed Companies 2014 by Investment Analysts Association (IAA) Rank #3 in terms of Revenue per Satellite 12

13 Financial Highlights 13

14 Overall Performance THCOM share performance relative to Thailand SET % Growth THCOM % Share price: Baht Market Cap: Billion Baht 1,900 1,700 1,500 % Revenue break up 2010 vs. 2014: Core satellite business contribution to revenue is increasing SET 81.62% SET Index: 1, ,300 1, Satellite 87% ,004 MB Others* 13% Jan-08 2-Jan-09 2-Jan-10 2-Jan-11 2-Jan-12 2-Jan-13 2-Jan-14 2-Jan-15 As of closing 02 Jan 2008 SET Index THCOM 9.95 Baht THCOM THCOM Share Performance: SET Index Overview Share price*: Paid-up Shares: Market Cap: BV/share PBV Baht billion shares billion Baht Baht 2.32 Baht Satellite 78% ,858 MB Others* 22% * Share price as of 10 Mar 2015 * Excluding revenues from discontinued operation (Mfone) 14

15 Consolidated revenues contribution by country Thailand 47% Australia 14% ,004 MB Other 12% Others oindonesia omalaysia ophilippine okorea onew Zealand ocambodia ovietnam osa&e (South Asia) ome&a (Middle East/Africa&Pacific) India 4% Myanmar 5% Japan 7% Lao PDR 11% 15 15

16 Bottom Line Grew Significantly from Satellite Performance Consolidated Sale & Services Revenues Unit: MB 4,000 3,000 2,000 5,767 5,858 1,269 1,289 4,498 4,569 6, ,630 7,266 1,017 6,249 8% 7, ,948 14% 1,128 10,004 1,220 8, Normalized Net profit and Normalized Net profit margin Unit: MB 18% 1, ** other Satellite Revenue 20% 15% 10% 5% Revenue grew continuously with strong cash flow. (CAGR = 10%) Continuously improved in Normalized Net Profit and Normalized Net Profit margin. (CAGR = 50%) 1,000 - (1,000) (2,000) 545 * ,128 1, % % (471) (490) * Excludes Impairment of M-fone and Watta total 371 MB ** Excludes Impairment of TMC of 231 MB -14% (806) 16 0% -5% -10% -15% -20% Normalized Net profit Normalized Net profit Margin

17 Strong Satellite Performances with Improving Margin Satellite Revenues Unit: MB Broadbrand Conventional 4,598 48% 5,684 51% 6,279 54% 52% 49% 46% 6,964 51% 49% 8,784 49% Y2014, Revenue continuously grew with CAGR of 14% 51% Satellite EBITDA Unit: MB 5,000 4,500 Satellite 4,000 EBITDA EBITDA 3,500 Margin 3,000 2,500 2,000 1,500 1, % 1,542 47% 2,644 53% 48% 3,328 3,370 53% 4, Y2013, EBITDA Margin dropped to 48% due to cost of interim satellite 60% Y2011, EBITDA improved since revenue growth significantly from broadband market expansion in Australia and Malaysia, together with effective cost management. 50% 40% 30% 20% 10% 0% 17

18 Financial position remains strong D/E Ratio at 0.63x 1 Strong cash from operation Unit: MB Unit: MB Equity 16,926 Asset, 2 27,610 Liabilities 3,393 3 Interest bearing debt 10,656 FY2014 Cash 3,365 4 Consolidated CF 2013* 2014 CF from Operating 3,952 4,840 CF from Investing (4,089) (5,872) CF from Financing 225 1,440 Cash Beginning 2,057 2,152 Short-term Deposit (BE) 1, Cash Ending 4,687 3,365 * Restated 1. Interest-bearing Debt / Equity 2. Exclude Cash and Current Investment 3. Exclude Interest-Bearing Debt 4. Cash and Current Investment 18

19 Industry Outlook & Moving Forward 19

20 Broadcast Ultra HD TV demand seen surging Global Ultra HD via Satellite Channels by Scenario Ultra HD TV Average Selling Prices Baseline 53% CAGR Ultra HD TV households by region (in Million): Source: NPD DisplaySearch More channels Lower TV set prices More households More bandwidth demand Source: spacenews.com

21 Broadband Exponential growth in Broadband Services Broadband Access Enterprise Data Source: NSR More data consumption More demand for mobility services More subscribers More HTS bandwidth demand Note: HTS = High Throughput Satellite Global IP Traffic by Application Mobility: In-Flight Entertainment and Connectivity (IFEC) Video traffic (79%) Source: Euroconsult 21 21

22 Broadcast & Broadband Convergence A Multiscreen World: Any devices, Anytime and Anywhere Asia Pacific surged ahead of the global average in terms of total screen time (439 vs. 417 minutes) Source: MillwardBrown, AdReaction

23 2015 Connecting the Future Connecting People Uniting strengths to create value and a future progress for all Technology Moving beyond the boundaries of existing technology to create the technologies of the future Opportunity Pursuing new opportunities for future growth 23

24 Broadcast Platform Provide a neutral platform as an incubator for satellite TV operators Promote a transition of satellite TV standard from SD to HD/UHD Expand to other markets in AEC 24 24

25 Broadband Platform Strengthen Open Access Platform (OAP) strategy Enhance next generation of broadband platform to support future requirements 25 25

26 In-Flight Entertainment & Connectivity (IFEC) Platform Strengthen Thai IFEC platform Extend footprints to other markets 26 26

27 Fleet Expansion Develop the new chapter of THAICOM fleet E E E E E de-orbited E de-orbited E de-orbited E 27 3/13/

28 Appendix 28

29 Our Services: Broadcast 29

30 Conventional Satellite: THAICOM 5 and THAICOM Asia s Hot Bird for Satellite TV Platform Cover 120 countries in Asia, Australia, Africa & Europe 702 TV channels (110 HD channels) 16 million households in Thailand No.1 in Thailand and Indochina countries One of the key players in South Asia and more 30

31 Conventional Satellite Key Market Segments 31

32 THAICOM 8 Meeting future needs To double Ku-band capacity in E Ku-band Thailand Beam Ku-band India Beam (steerable) Ku-band Africa Beam (steerable) Manufacturer : Orbital Sciences Corp. Launcher : Space Exploration Technologies Corp. Orbital Slot : 78.5 E Capacity : 24 Ku-band transponders Lifetime : 18 years Target Launch : mid 2016 (estimated) Note: TPE = 36 MHz transponder equivalents Conventional Satellite Capacity (TPE*) C Ku 32

33 Our Services: Broadband 33

34 Broadband Satellite THAICOM 4 34

35 IPSTAR Key Market Segment Telco Backhaul & Enterprise Cellular Backhaul Rural Telephony Corporate Networks Government/ USO * Program e-government Distance Learning National Broadband Network (*Universal Service Obligation) Mobility Emergency Communications Satcom-on-themove In-flight Entertainment & Connectivity 35 3/13/