contents section 1 : company highlights & advantages

30
10/12/55 1 1 Contents Section 1 : Company Highlights & Advantages Section 2 : Strategic Planning & Product Section 3 : International Updates Section 4 : Financial Performance

Upload: others

Post on 30-Dec-2021

2 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Contents Section 1 : Company Highlights & Advantages

10/12/55 1 1

Contents

Section 1 : Company Highlights & Advantages Section 2 : Strategic Planning & Product

Section 3 : International Updates

Section 4 : Financial Performance

Page 2: Contents Section 1 : Company Highlights & Advantages

10/12/55 2

Vision

“Pruksa is one of the top ten residential real estate companies in Asia focusing in World Class Quality Management with strong fundamental and sustainable growth. We maximize customers and employees satisfaction and returns to shareholders and uphold the social responsibilities in all the countries we do business in.”

Goals

Be one of the top ten residential developers in Asia

Generate at least 25% per year revenue growth

Generate at least 18% net margin

Revenue of 100,000 million Baht by 2017

Corporate Vision and Goals

2

Page 3: Contents Section 1 : Company Highlights & Advantages

10/12/55 3

A Successful Road Map

20 April 1993 Pruksa Real Estate founded by K.Thongma

Dec 2005 Registered as a Public Company Limited and listed on SET

2006 Implement SBU strategy in organization

2007 First condominium transferring

2008 Presale - THB 16 bn

2009 # 1 in Thailand Presale - THB 23 bn Revenue - THB 19 bn

2004 Built “Precast Concrete Factory” a new construction technology in Thailand – 240 houses / mo.

2010 Credit Rating

Upgraded to A by TRIS

2010 Still # 1 in Thailand Presale – THB 38.75 bn Revenue – THB 23.4 bn

2010 Launched Internationnal booking in Maldive, India

2011 - New Precast Factory adds another 400 house / mo.

Page 4: Contents Section 1 : Company Highlights & Advantages

10/12/55 4

Dis

tingu

ishe

d P

rodu

ctio

n

Proven right and unique business model providing competitive advantages Being both builder and developer, we control costs, time, qualified material with no mark-up paid to main contractors. Not only leader in civil engineering but also regional recognition gainer for its best

architecture hi-rise Condo in Asia Wide product coverage (house type, design, price) Short Construction time for low-rise. Business cycle competitive advantage

Hig

h G

M,

Fast

gro

wth

High Gross margin of 38 % in 2009 – 10 108% Asset Turnover in 2009, 88% in 2010, 60% in 1Q’11 Strong growth in asset, more than triple from 2007 to Bt. 38.7 billion in 1Q’11 Healthy Financial Condition during growth as No. 1 Housing revenue since 2009

On-

goin

g St

aff D

ev.

Continuous product Development to meet “Real Demand” Divide PS into Special Business Unit to allow effective “Brand Management” on its own Diversify SBU strategic plan including International business to support long term

growth. Strong team with company’s culture to promote on-going development

Distinguished Property Developer

4

Page 5: Contents Section 1 : Company Highlights & Advantages

10/12/55 5

4 Competitive Strengths

3) Strong Platform and Strategy to capture Growth

1) Unique Business Model

Strong Barrier to Entry in TH

4) FAST growth, Strong

Financial Condition

2) Dominant Player in large “Real Demand” Market Segment

Page 6: Contents Section 1 : Company Highlights & Advantages

10/12/55 6 6

Precast (PCF 5) highlight

Pruksa Precast PCF 5 is the world biggest plant for precast elements

Expected Capacity : 430 Units house/Month( 112,000 m2/month )

Production Area : 14,200 m2

Stock Area : 9,800 m2

High Technology:

Fully Automated Carousel System (ระบบการผลติอตัโนมตัเิตม็รปูแบบ) Shuttering System : Robot (การวางแบบกัน้ขางโดย robot) Reinforcement : Automated Mesh Plant (ระบบการผลติเหลก็เสรมิ ดวย เครือ่งจกัรอตัโนมตั)ิ Concrete Placing : Automatic (ระบบเทคอนกรตี อัตโนมตั)ิ Curing: Automatic (ระบบบมคอนครตี อัตโนมตั)ิ

Page 7: Contents Section 1 : Company Highlights & Advantages

Plant Investment (MB)

Operation year

Production Line

Output Factories Capacity / Month

PCF 1 (Carrousel I)

650 2004 Semi Automated

Carrousel System

House Wall 57,600 sq.m. (Net area) equiv. to 240 house unit

PCF 2 (Fence Factory)

150 2005 Fixed Mould System

House Fence 2,000 cubic metre or equiv. to 1,700 house fence

PCF 3 (Slab & Special

Element Factory)

200 2007 Fixed Mould System

Slab & Special Element for House

4,800 cubic metre or equiv. to 640 house unit

PCF 4 (Condo &

Façade Factory)

250 2010 Fixed Mould System

-Condominium wall and

Façade -Townhouse Facade

16,000 square metre or equiv. to 320 units 2,000 square metre or equiv. 900 house unit

PCF 5 (Carrousel II)

850 2010 Fully automated

Carrousel System

House Wall 96,000 sq.m. (gross area) equiv. to 400 house unit

All plant summary – Total 640 Units / month

Page 8: Contents Section 1 : Company Highlights & Advantages

10/12/55 8

Organization Structure

Developer +Contractor

+Manufacturer

Customer Value Product/Project/Service

+Cost Leadership +Price Leadership

Condominium Competitive Pricing Model

& Good Customer Value

Single-Detached House Competitive Pricing Model

& Good Customer Value

Town House Competitive Pricing Model

& Good Customer Value

Catch up New Lifestyle

High Working Capital

Long-Term Growth

Business Process

Short Working Capital required

Easy Business

Expansion

Barriers To Entry

In TH

To be No.1

Developer

Integrated Developer

(Low Rise+ High Rise)

Modern Trade Developer

(Low Rise : TH, SDH)

Portfolio Management

(High Rise : Condominium)

Effective Integration

leads to Penetration Pricing

Possibility with

Competitive Customer Value

Competitive Advantages # 1

Uniqueness : Right / Mass Production at low cost thus barrier to entry

8

Page 9: Contents Section 1 : Company Highlights & Advantages

10/12/55 9

Precast Factory & advantages Precise and sustainable quality control

Minimum material and product waste

Shorten production period

Facilitate and speed up erection at site

Faster handover time to customer

Reduce labour cost

Minimum labor

Less dependence on skilled labor

Continuous production in all season

Flexible product range

Able to control pollution

Page 10: Contents Section 1 : Company Highlights & Advantages

10/12/55 10

Tunnel System: for TH Construction

Page 11: Contents Section 1 : Company Highlights & Advantages

10/12/55 11

Special Technology & Mass Production

Being a technology leader and market leader has enabled Pruksa to have mass production capability

To reduce production time and number of skilled labour which leads to cost efficiency

To produce consistent and high quality products

Page 12: Contents Section 1 : Company Highlights & Advantages

9,170

38,752

22,774

25,554

12,688

7,019

17,635

5,669

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2009 2010 2Q'11 1H'11 2011 1Q'12 2Q'12 1H'12

Townhouse Single Detached House Condominium Intern'l

Mill

ion

Bah

t

12

23% YoY

24 % QoQ

28% YoY

Total Net Booking

Page 13: Contents Section 1 : Company Highlights & Advantages

50,808 50,189

61,562

75,359 85,207

53,384 42,488

15,501 16,367 14,076 10,771 13,827 10,858

5,387 16,700 16,390 13,437 10,863 11,461

11,891 4,927

18,607 17,432 34,049

53,725 59,919

30,635 32,174

6,5687,074 8913 11,249 12,849

10,509 11,232 -

10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000

2006 2007 2008 2009 2010 2011 1H '12BKK & Vicinities Townhouse Single Detached house Condominium PS transf

Page 14: Contents Section 1 : Company Highlights & Advantages

10/12/55 14

Competitive Strength # 2

Market Access– Dominance in Large & Real Demand market segment

Page 15: Contents Section 1 : Company Highlights & Advantages

10/12/55 15

Competitive Strength # 3

Solid Platform and Strategy to capture Growth

1) Maximize Market / Value Share of TH by Expanding into City TH Segment/ New Coverage Areas (Push Market Growth by Expanding new TH Segment)

2) Focus on Growing Revenue from Medium-priced SDH/Medium-high-priced SDH by Expanding new SDH Segment 3) Expand into Condominium Segment with Optimum Risks

Rapid growth of city CD / city TH

Page 16: Contents Section 1 : Company Highlights & Advantages

10/12/55 16

Fast growth, High Asset T/O

16

Competitive Strength # 4

Million Baht Times 41,982 41,988

17,762

1,2193,600

2,100

20,307 19,003 19,032

11,095

16,292

41,753

18,871

34,091

15,263

13,023

10,1108,206

17,62916,99613,111

1.08

1.37

0.61

0.450.35

1.361.23

1.47

1.191.07

0.36

0.160.15

0.86

0

10,000

20,000

30,000

40,000

'07 '08 '09 '10 Res. '11 1Q'12 2Q'120

0.5

1

1.5

Asset Liabilities Equity

Interest Bearing debt Liabilities : E Interest. bearing debt : E

45%

66%

6%10%

26%

15%23%

19%15% 12%

108%

89% 95%88%

61%

13%17% 19%

13%7%

17% 18%

31%25%

14% 18%

0%

20%

40%

60%

80%

100%

120%

'07 '08 '09 '10 '11 1Q'12 2Q'12

Avg. Asset T / O Avg. ROA Avg. ROE Net Profit Margin

Page 17: Contents Section 1 : Company Highlights & Advantages

10/12/55 17 17

Contents

Section 1 : Company Highlights & Advantages

Section 2 : Strategic Planning & Product

Section 3 : International Updates

Section 4 : Financial Performance

Page 18: Contents Section 1 : Company Highlights & Advantages

18

Middle-low income

Low income

1.6 – 2.0 / unit

0.6 - 1.2 / unit

Low income 1.0 - 1.5 / unit

The Connect

Baan Pruksa

Pruksa Ville

The Plant Citi Stylish Middle income 2-3 Storey 2.0 – 4.0 / unit

Urbano Stylish Middle income 2 Storey 1.8 – 2.7 / unit

Pruksa Town Stylish Middle income 2 Storey 1.5 – 2.8 / unit

Brand Segment Price (mil. Bt) Logo

Silvana (in Bangalore) Middle income Start @ 2.5 / unit

Reno Middle –low income Start @ 1.4 / unit

Patio

Villette Middle – High income

Middle – High income Start @ 3 / unit

Start @ 2.6 / unit

Brand & Segmentation of Pruksa: Townhouses

Page 19: Contents Section 1 : Company Highlights & Advantages

10/12/55 19

Middle-High income

Middle-low income

2.5 – 10.0 / unit

2.0 – 3.0 / unit

Passorn

Pruksa Village

The Plant Middle income (Stylish SDH) 3.0 – 6.0 / unit

Brand Segment Logo

Middle-low income 1.9 – 3.0 / unit Pruksa Nara

Price (mil. Bt)

Silvana (in Bangalore) Middle income Start @ 3.2 / unit

Pruksa Puri Middle income 2.5 – 3.5 / unit

Natura Middle income Start @ 2.5 / unit

Brand & Segmentation : Single Detached Houses

Page 20: Contents Section 1 : Company Highlights & Advantages

20

Brand Segment Price (mil. Baht) Logo

Middle-High income 1.5 - 10.0 MBt / unit IVY

Low income 0.5 - 0.8 MBt / unit City Ville Condo

The Seed Middle income (Stylish Condo) 1.4 – 7.0 MBt / unit

Brand & Segmentation : Condominiums

Be you Middle-Low income 0.8 – 1.5 MBt / unit

624 Condolette Middle-Low income 0.8 – 1.0 MBt / unit

Middle -Low income 0.8 – 2.2 MBt / unit The Tree

Chapter One

Urbano Condo

0.9 – 2.0 MBt / unit Middle income

Middle-High income

FUSE Middle-High income

2.0– 14 MBt / unit

2.7 – 8.5 MBt / unit

Condolette

2.5 – 7.0 MBt / unit Middle-high income

Coral Ville (Maldives) Middle-High income 3.8– 4.8 MBt / unit

The Plum Middle-Low income 0.8 – 1.2 MBt / unit

Page 21: Contents Section 1 : Company Highlights & Advantages

10/12/55 21

CEO

CBO 2 CBO 3 CBO 1

SBU

Connect

SBU

PV 1

SBU

PKV

SBU

PK

SBU

PT

SBU

CD 1

SBU

PS

SBU

CD 2

SBU

CD 4

SBU

SD 3

SBU

CD 3

IB : India

Maldives

CFRO CSO

PRECAST

IB : VN

Fin. Planning IT

IR

HRM

Business

Support

Highly Skilled & Experienced Management Team in each Market Segment Interchangeable Management Team

Strong Team Synergy

Townhouse Single Detached H. Condo. Condo. SDH IB IB

Business Development

Team

Supporting Team

21

Treasury

R & D

HRD

Process

Business

Land Acquisitions, Purchasing

Account & Fin

Page 22: Contents Section 1 : Company Highlights & Advantages

10/12/55 22 22

Section 1 : Company Highlights & Advantages

Section 2 : Strategic Planning & Product

Section 3 : Financial Policy & Performance

Section 4 : Investment Highlights

Page 23: Contents Section 1 : Company Highlights & Advantages

23

Dividend Policy & Payment B

t. / s

hare

(bar

gra

ph)

Performance of the year

Net Profit (million Baht)

Legal reserves (million Baht)

% of dividend payment

Dividend per share (Baht) Payment Date

2011 2,834.82 - 31.0 0.4 May 17, 2012 2010 3,488.14 - 31.6 0.50 May 13, 2011 2009 3,621.83 - 33.33* 0.55 May 13, 2010 2008 2,373.37 - 30.54 0.33 April 23, 2009 2007 1,269.88 2.33 37.87* 0.22 May 8, 2008 2006 1,303.28 - 33.36* 0.20 May 4, 2007

0.33 0.55 0.5 0.4

3.8 4.65.9 6.9 7.7 8 8

0.6 1.08 1.64 1.58 1.28 0.29 0.45

8.4

4.4

17.8 18.5

11.6

15.1 15.717.8

0.22 4814350

5

10

15

20

'07 '08 '09 '10 2011 1Q'12 2Q'12 6AUG12

05,00010,00015,00020,00025,00030,00035,00040,00045,000MKT. Cap in SET @ period end

Dividend per shareBook Value per shareEarning per shareEnding PS price in SETDividend Cash Outflow

Page 24: Contents Section 1 : Company Highlights & Advantages

10/12/55 24

Conclusion & Key Investment Highlights

Leader of Thailand residential property developer

Diversified market segment and location

Strong brand recognition and proven track record

Cost competitiveness from large production scale and prefabrication technology

Solid financial performance and balance sheet

TRIS Rating “A” negative

Experienced management team

Page 25: Contents Section 1 : Company Highlights & Advantages

25

Page 26: Contents Section 1 : Company Highlights & Advantages

26

TH : 5,149TH : 7,536

TH : 9,743TH : 11,948

SDH : 5,601

SDH : 7,723

CD : 43

CD : 564

CD : 3,608

TH : 13,744TH : 11,503

SDH : 4,869

SDH : 8,322

SDH : 7,140

SDH : 3,862

CD : 3,038

CD : 4,487

CD : 3,596

Inter : 896

Inter : 100

Other : 65

Other : 38

2007 2008 2009 2010 2011 2012(Target)

2012 Revenue Target

19,033 MB.

13,034 MB.

9,093 MB.

23,280 MB.

26,000 MB.

23,230 MB.

Growth +43%

Growth +46%

Growth +22%

Target -27%

Growth 0%

Growth +12%

32%

12%

3%

53%

1%

19%

30%

50%

Other : 93

Page 27: Contents Section 1 : Company Highlights & Advantages

10/12/55 27

Thane: Mumbai 50 : 50

Bangalore 100%

On going and upcoming projects

International : India overview

Page 28: Contents Section 1 : Company Highlights & Advantages

Maldives Update

• JV with HDC, 5-storey Condo in Hulhumale (480 MB, 9 bldgs, 180 units) • As of 2Q’12, accum. transfer is 216 MB (87 units) • Construction will be completed in Q3 ’12 • Revenue recognition started in 2011 and will end in Q1 ’13

C1

C2

C3

C4

C5

C6

C7

C8

C9

Transfer

Not Transfer

28

Page 29: Contents Section 1 : Company Highlights & Advantages

Bangalore, India update

29

• Total project 401 units 1,645 MB (321 villa, 80 row house) • As of Q2 ’12, accum. sales 649 MB (175 Units) and 36 units transferred

(125 MB). Target 2012 revenue is 513 MB 29

Page 30: Contents Section 1 : Company Highlights & Advantages

• 85% JV with Hoang Huy Service Investment Co. • JV Co. is expected to get the investment license in Q3, 2012 • Land purchase is on process - to be developed as a condominium project in Hai

Phong. • First phase to open for booking in Q4, ’12 (or early 2013)

Vietnam Update

30