SC Asset Corp. Public Co., Ltd. · SET:SC

SC Asset Corp. Public — SC Asset Corporation Public Company — Q3 2019 Earnings Presentation

33 slides from SC Asset Corp. Public's earnings presentation, Nov 20, 2019

  1. Slide 1: Info Meeting 3Q19

    INFO MEETING 3Q19 20 November 2019 Attapol Sariddipuntawat Chief Corporate Officer

  2. Slide 2: 9M19 Property Market Overview

    9M19 PROPERTY MARKET OVERVIEW

  3. Slide 3: 9M19 Newly Launched: Demand & Supply

    9 M 1 9 N E WLY L AUNC H ED ( BY U N IT ) : D EMAND & SUPP LY NEW NEW ABSORPTION RATE DEMAND SUPPLY 27% : 9M19 21,024 ÷ 77,957 = GAP: -12% UNITS UNITS (637%) (610%) 39% : 9M18 Source : Agency for Real Estate (AREA) 3

  4. Slide 4: 9M19 Newly Launched: Demand & Supply by Product

    9 M 1 9 N E WLY L AUNC H ED ( BY U N IT ) : D EMAND & SUPP LY NEW NEW % Sold by Total Units SDH SDH 5-10 MB (64%) DEMAND 3-5 MB (23%) 8,334 UNITS SUPPLY 807 UNITS (6 3%) (641%) 21,024 TH 3-5 MB (46%) TH 77,957 2-3 MB (37%) 4,343 UNITS 19,157 UNITS UNITS (623%) (6 9%) UNITS CD CD (637%) <2 MB (51%) (

  5. Slide 5: 9M19 Newly Launched: Supply Breakdown by Product

    9M1 9 N E W LY L AUNC H ED ( BY U NI T ) : SUP PLY (B REA KDOWN BY PRODUCT ) Unit : Unit NEWLY LAUNCHE D : SU P P LY BY SE G ME NT 8,587 -3% YoY 5,338 3,037 3,263 8,334 1,954 1,888 525 386 517 SDH <2 2-3 3-5 5-10 10-20 > 20 -9% YoY 10,063 21,100 8,772 5,859 6,192 4,141 19,157 3,186 761 976 218 TH 17

  6. Slide 6: 9M19 Newly Launched: Demand Breakdown by Product

    9M19 N E W LY LAUNC H ED ( BY U NI T ) : DEMAND (B REA KDOWN BY PRODUCT ) Unit : Unit NEWLY LAUNC H E D : DE MA N D BY SE G ME NT 1,358 -41% YoY 543 518 807 446 189 252 46 108 54 <2 2-3 3-5 5-10 10-20 > 20 SDH -23% YoY 2,358 5,639 1,989 4,343 1,603 1,857 1,119 488 156 261 112 2 37 TH <2 2-3 3-5 5-10

  7. Slide 7: 9M19 Housing Transfer Trends by Value

    9M1 9 HO US IN G T R ANSF ER T R ENDS BY VALUE (B KK – VICINITIES) Unit : MB Type 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 QoQ YoY 9M18 9M19 YTD SDH 16,876 20,670 19,647 28,150 22,483 17,492 21,677 24% 10% 57,193 61,652 8% TW 4,374 4,703 4,033 5,747 5,685 3,601 5,051 40% 25% 13,110 14,337 9% TH 15,745 18,

  8. Slide 8: 2017-2023 Office Market Forecast

    2 0 1 7 -2 0 2 3 O F F I C E M ARKET FORECAST Office Supply (Sq.m.) Occupancy rate 93.1% 93.0% 12,000,000 91.4% 93.0% 92.5% 93.0% 92.8% 92.6% 92.5% 100% 92.4% 11,000,000 10,000,000 8,975,378 sq.m. 80% 9,000,000 246,500 201,000 234,500 232,500 83,349 89,643 210,959 8,000,000 221,000 48,000 60% 7,000,

  9. Slide 9: Office Market

    O F F I C E M A RKET Rental rate (Baht) 1,025 1,036 1,055 QoQ YoY 1,009 1,057 CBD Grade A 0.2% 4.8% 860 868 868 876 876 CBD Grade B 0.8% 3.9% 780 784 790 Non CBD Grade A 0.0% 1.9% 760 767 702 706 716 720 Non CBD Grade B 0.0% 3.6% 695 3Q18 4Q18 1Q19 2Q19 3Q19 Total 0.3% 3.5% CBD Grade A CBD Grade B N

  10. Slide 10: 3Q19 & 9M19 Business Review

    3Q19 & 9M19 BUSINESS REVIEW FOR GOOD MORNINGS

  11. Slide 11: 3Q & 9M Highlights

    3 Q 1 9 & 9 M 1 9 HIGHLIGHTS Re venue f rom Sa les 2,870 MB WELL-PERFORMED (+13% YoY, +8% QoQ ) IN 3Q19 4,020 MB (+16% YoY, +23% QoQ ) 1,150 MB (+24% YoY, +84% QoQ ) PERFORMANCE Opera t in g Re venue Gross P rof i t Mar g i n GROWTH 3,600 MB 10,922 MB IN 9M19 (+6% YoY ) (+4% YoY ) SUCCESSFULLY LAUNC

  12. Slide 12: Operating Revenue

    O PER AT I NG REVENUE Unit : MB 3Q 2019 = 4,244 MB 9M 2019 = 10,922 MB (+ 1 6 % YoY, + 2 1 % Q oQ ) (+6% YoY ) 10,257 10,922 666 +6% YoY 4,244 628 3,670 3,496 224 +8% YoY 9,629 10,256 +7% YoY +1% QoQ 209 221 4,020 +16% YoY 3,461 3,275 +23% QoQ (94%) (94%) (95%) (94%) (94%) 3Q18 2Q19 3Q19 9M18 9M19 (

  13. Slide 13: Gross Profit Margin

    G RO SS PRO F I T MARGIN GP 3Q 2019 = 1,397 MB GP 9M 2019 = 3,600 MB (+ 1 3 % YoY, + 2 5 % Q oQ ) (+4% YoY ) 33.8% 32.0% 32.9% 33.7% 33.0% 75% 68% 61% 61% 61% 59% 56% 55% 32% 30% 31% 32% 31% 18% 18% 3Q18 2Q19 3Q19 9M18 9M19 (Restated) (Restated) GP (%) GP Property For Sales (%) GP Rental and Renderi

  14. Slide 14: SG&A

    SG &A Unit : % to Operating Revenue 3Q 2019 = 787 MB 9M 2019 = 2,168 MB (+ 9% YoY, + 8 % Q oQ ) (+7% YoY ) Admin Expenses 20.8% 18.5% 19.7% 19.8% 19.7% Specific Business Tax & 10.4% 12.9% 10.0% 11.1% 11.8% Transfer Fee 3.7% 3.7% 3.8% 3.7% 3.7% Selling Expenses 5.7% 4.1% 4.7% 4.9% 4.4% 3Q18 2Q19 3Q19

  15. Slide 15: Net Profit

    NET PROFIT 3Q 2019 = 441 MB 9M 2019 = 1,039 MB (+ 1 3 % YoY, + 5 6 % Q oQ ) (- 6% YoY ) Net Profit 10.6% 10.4% 10.7% 9.5% Margin 8.1% (%) 1,103 1,039 441 390 283 Net Profit (MB) 3Q18 2Q19 3Q19 9M18 9M19 (Restated) (Restated) Note: The company has adopted the new TFRS 15, Revenue from contracts with

  16. Slide 16: Financial Position

    F I NANC I AL P OSITION 31 Dec 18 30 Sep 19 Diff from % Diff (Restated) 31 Dec 18 Total A ssets (M B) 42,620 46,608 3,988 9% Total Li ab i l i ti es (M B) 26,381 30,005 3,624 14% Total Equ i ti es (M B) 16,239 16,603 362 2% ROA (%) 4.39% 3.86% Net Profit / Avg. Total Asset ROE (%) 11.44% 10.74% D/E

  17. Slide 17: 3Q19 & 9M19 Property for Sales

    3Q19 & 9M19 PROPERTY FOR SALES FOR GOOD MORNINGS

  18. Slide 18: Presales

    PR ESALES Unit : MB 3Q 2019 = 4,421 MB 9M 2019 = 11,444 MB ( - 3% Yo Y, + 5 % Q oQ ) (- 3% YoY ) 11,800 11,444 -3% YoY 3,177 3,282 +3% YoY 4,564 4,421 4,218 3,662 3,573 858 3,222 +58% YoY 2,805 1,595 1,359 -15% QoQ 8,623 8,162 -5% YoY Condominium 3,707 3,062 -17% YoY +17% QoQ 2,622 Landed Property (

  19. Slide 19: Revenue from Sales

    R EVENUE F ROM SALES Unit : MB 3Q 2019 = 4,020 MB 9M 2019 = 10,256 MB ( + 1 6 % Yo Y, + 2 3 % Q oQ ) (+7% YoY ) 9,629 10,256 +7% YoY 5,060 2,184 -16% YoY 2,606 4,020 3,708 3,461 8,072 +15% YoY 2,961 3,275 +24% YoY 1,150 +84% QoQ 7,024 Condominium 2,461 924 625 2,870 +13% YoY 2,650 +8% QoQ 2,537 Land

  20. Slide 20: Backlog as of September

    BAC K LO G AS O F 3 0 S EPTEM B ER 2 0 1 9 B a c klog 11,027 MB (Landed 21% : Condo 79%) Total Unit Project Value 2022 20% LANGSUAN Ongoing Projects Transfer Period % Unit Sold (Unit) (MB) Chambers Chaan 317 930 Start Apr 2017 99% 2020 30% Chambers Cher 252 780 Start Dec 2017 91% onwards SALADAENG O

  21. Slide 21: 50 Ongoing Projects as of September 2019

    50 O N GO IN G PRO J EC TS AS O F 3 0 SEP TEMB ER 2019 : 41,300 MB PRODUCT TYPE NO. OF PROJECT REMAINING VALUE (MB) % PROPORTION Single Detached House 35 24,800 60% Town House & Home Office 5 1,600 4% Condominium 10 14,900 36% TOTAL 50 41,300 100% 40 Landed Properties : 10 Condominiums : 36 % 64 % 2

  22. Slide 22: 3Q19 & 9M19 Income Property

    3Q19 & 9M19 INCOME PROPERTY FOR GOOD MORNINGS

  23. Slide 23: Revenue from Rental & Services

    R EVENUE F RO M R ENTAL & SERVICES Unit : MB 3Q 2019 = 224 MB 9M 2019 = 666 MB (+ 8% YoY, + 1 % Q oQ ) (+6% YoY ) 666 628 1 67 +8,077% YoY 209 221 224 Consulting and Management Services 0.3 22 22 627 -5% YoY 599 Rental and 208 199 202 Rendering Services 3Q18 2Q19 3Q19 9M18 9M19 (Restated) (Restated)

  24. Slide 24: Property Development for Rental & Services

    P RO P E R T Y DEVELO PM ENT F OR RENTAL & SERVICES 6 Office Buildings comprised the total rentable space of 119,637 sq.m. with overall occupancy 93% ST 1 ST 2 Rentable Area : Rentable Area : 22,457 sq.m. 16,220 sq.m. Occupancy Rate : Occupancy Rate : 99 % (Freehold) (Freehold) 100 % SC ST 3* Tower

  25. Slide 25: 4Q19 Outlook

    4Q19 OUTLOOK FOR GOOD MORNINGS

  26. Slide 26: 4Q SC Outlook

    4 Q 1 9 SC O UTLOOK NEW PROJECTS LAUNCHED 4 LANDED PROPERTIES / 4,070 MB NEW CONDO TRANSFERRED RATCHAYOTHIN NEW SUBSIDIARY COMPANY 26

  27. Slide 27: Total New Projects Launched in 2019

    TOTAL 9 NEW PRO J EC TS LAU NC H ED I N 2 0 1 9 9 NEW PROJECTS 4Q19 LANDED PROPERTY VALU E 16,205 MB 1H19: 8,300 MB 2H19: 7,905 MB RAMINTRA - SERITHAI 2 LADPRAO - SERITHAI 1 Project / 8,300 MB 4 Projects / 4 Projects / 3,835 MB 4,070 MB P E TC H K A S E M RAMA 5 1Q19 2Q19 3Q19 4Q19 Landed Property C

  28. Slide 28: 4 New Projects Launched in 4Q19

    4 NEW PRO J EC TS L AUNCHED IN 4Q19 RAMINTRA - SERITHAI 2 RAMA 5 LADPRAO - SERITHAI PETCHKASEM Presale: 26 - 27 Oct 2019 Presale: 9 - 10 Nov 2019 Presale: 16 - 17 Nov 2019 Presale: 23 - 24 Nov 2019 Price Range: 12 - 17 MB Price Range: 6.79 - 15 MB Price Range: 17 - 25 MB Price Range: 2.99 - 5.99 MB

  29. Slide 29: Total Projects for Sale in 4Q19

    TOTAL PRO J EC TS FO R SALE I N 4 Q1 9 ONGOI N G P ROJ EC TS N E W P RO J E CTS TOTA L PROJ E CTS as o f 3 0 S ep 1 9 50 4 54 VALU E 4 1 ,3 0 0 MB VALUE 4 ,0 7 0 MB VALUE 4 5 ,3 7 0 MB 60-120K < 5 MB < 5 MB > 20 MB 15 120-200K > 300K 5-8 MB 5-8 MB 8-20 MB 8-20 MB 200-300K 29

  30. Slide 30: 54 Projects for Sales in 4Q19

    5 4 P RO J EC TS F O R SAL ES IN 4Q19 : 45,370 MB 44 Landed Property Projects : 30,470 MB (67%) 10 Condominium Projects : 14,900 MB (33%) < 5 MB : 12 Projects > 20 MB: 19% 11 Projects 60-120K: 15% 26% 3 Projects 8% > 300K: 120-200K: 3% 87% 4 Projects 5-8 MB: 17% 2 Projects 9 Projects 2% 200-300K: 38

  31. Slide 31: Thank You

    THANK YOU Further more information, please visit www.scasset.com or contact IR E-mail : [email protected] Tel : 662-949-2344, 662-949-2969 “Some Statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respe

  32. Slide 32: Appendix

    SC ASSET SoS APPENDIX FOR GOOD MORNINGS

  33. Slide 33: 9 New Projects Launched in 2019

    9 NEW PRO J EC TS L AUNCHED IN 2019 Launch Product Project Unit Value (MB) Q2 CONDO SCOPE - LANGSUAN 159 8,300 159 8,300 Q3 SDH VENUE FLOW RANGSIT 124 720 SDH PAVE BANG NA 267 1,550 SDH / TH V COMPOUND BANG NA 285 950 TH VERVE FLOW RAMA 5 133 615 809 3,835 Q4 SDH VENUE FLOW RAMA 5 70 700 SDH BANGKOK

SC Asset Corporation Public Company — Q3 2019 Earnings Presentation on 6ix