ENERGY ABSOLUTE PCL. OPPORTUNITY DAY for Q2/2021
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
ENERGY ABSOLUTE PCL. OPPORTUNITY DAY for Q2/2021
At a Glance
Market Capitalization (as of 23.08.21)
Approximately THB 220.1 bil. (US$ 6.6 bil.)
Others,
Credit Rating 24.60%
Corporate rating : A Somphote
Ahunai (CEO),
CG Rating 46.22%
Excellent Shareholder
Structure
Foreign
Juristic,
16.51%
A Domestic Fund, 12.68%
Somphote Ahunai (CEO) Domestic Fund Foreign Juristic Others
Total Board Members = 11
Independent Executive Other
Directors Directors Non - Executive
= 6 (55%) = 2 (18%) = 3 (27%)
2
Our Business
Electric Vehicle and
Biodiesel Renewable Power Energy Storage
Charging Station Platform
(1) B100 & Glycerin (1) COD (1) Amita Taiwan (1) EV (MINE SPA1)
800,000 liters/day • Solar 278 MW 400 MWh (2) MINE Smart Ferry
(2) Bio-PCM & Green Diesel • Wind 386 MW (2) Amita Thailand (3) E-Bus and E-Truck
130 tons/day (2 Phases) (2) New projects 1 GWh (by 2021) (4) Charging Station and
(3) Other related EA Anywhere application
3
Agenda
• Financial Performance
• Progress in Ongoing and Future business
• Palm Oil-based Business
• Renewable Power Business
• Energy Storage Business
• Electric Vehicle Business
• EV Charging Platform
• 2021 Investment Plan
4
Financial Performance
5
Revenue Up Amid Pandemic Situation
Mil.Baht Biodiesel Power Other Businesses Other Revenues
12,000
• Revenue rose by 18% YoY mainly from the fully revenue
+8% YoY
recognition from Crude Palm Oil (CPO) sales by Larp
Pakdee Palm (since 2Q20) and Karnjanadit Palm (since
9,642
10,000 3Q20) which lead to an increase of 468 Mil Baht.
15
8,937 120
77 • B100’s revenue rose 277 Mil Baht after CPO Stock
123
decreased.
8,000
• For the power business, overall revenue contributed
5,367
similar to the same period last year.
+18% YoY
6,000 5,376
4,935 12 Others Others
4,175 47 84
1% 2%
4,000
17 Biodiesel Biodiesel
2,593 38% 45%
2,611
6M/20 6M/21
2,000 4,139
3,361 Power
2,246 Power 53%
1,500 61%
-
Q2/2020 Q2/2021 6M2020 6M2021
6
Maintain Gross Profit
Mil.Baht
During Covid Situation
Biodiesel BU. Power BU. Other Businesses
5,700 • Gross Profit recorded the same level in 2Q and
the second half of 2021.
4,700
3,948 3,968 +1%
YoY
3,700
Gross Profit Margin
Q2/20 Q2/21
by Business
2,700
-3% YoY
1,885 1,823
Biodiesel Business 6% 4%
3,936 3,960
1,700 Power Business
Solar 81% 82%
1,861 1,864 Wind 52% 57%
700
89 85 180 174
(65) (126) (168) (167)
(300)
Q2/20 Q2/21 6M/20 6M/21
Note: Total Revenue and Net Profit are excluded Accounting Gain, Other Income, Gain/Loss from exchange rate.
7
Maintain Net Profit During Covid Situation
YoY
+1% Solar
(Mil.THB) Gross
(38) (640) 39
Profit (33) (769)
Increase (50)
3,948 3,968
2,603 2,601
Gross Profit 6M20 Selling Expense Share of Loss in investment Financial Cost Net Profit 6M21
YoY
-3%
(Mil.THB) (20) (292) 13
(8) (379)
+4%
(12)
1,885 1,823
1,191 1,149
Gross Profit Q2/2020 Selling Expense Share of loss from investments Financial Cost Net Profit Q2/2021
21% YoY 7% YoY
Improving Repaying
Efficency Loan
8
Controllable Leverage Ratio and Diversified Payment Schedule
Total Interest Bearing Debt
Mil.Bt.
Current Bond LT-Loan
portion of
Debentures & 7,299 7,135
6,337 6,390 6,030
ST-Debt
15%
2,337 4,000
5,635
3,466 3,030
4,390 6,299 -
43,835 4,000 2,766
3,000
642 212 4,000
LT-Debt
57%
Mil.Bt. Debentures
28%
2,000
1,000 1,500
700 642
- 212
-
2021 2022 2023 2024 2025 2026 2027 2028 2029
On 11th February 2021, EA signed THB 1.5 billion 3-year loan to ADB and was certified
by CBI to be green loan.
Interest Rate
Short Term Debt: 1.20 – 1.50% On 10th July 2020, EA issued bond worth THB 2.2 billion
- Tranche 1 : 2-year bond worth THB 500 million with 2.62% interest
P/N: 1.20 – 1.50% - Tranche 2 : 3-year bond worth THB 1,000 million with 2.94% interest
Long Term Debt: 2.30 – 3.80% - Tranche 3 : 5-year bond worth THB 700 million with 3.30% interest
Bond: 2.37 – 3.30%
D/E 1.56
Net D/E 1.43
Net IBD/equity ratio not exceeding 3.5:1
9
Palm Oil-based
Business
10
1
0B100’s Revenue Up Driven by CPO Stock
Market situation in Thailand
Unit : Ton
Mil.liters Baht/liter 600,000
500,000
300
400,000
188 193 188
200 175 174 300,000
152 158
134
200,000
100
35.07 48.2 41 33.78 100,000
25.00 28.60 30.99 24.18 20.17 17.69 28.79 23.33
0 -
Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20 Oct 20 Nov 20 Dec 20 Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21
2013 2014 2015 2016 2017 2018 2019 2020 Q2/20 Q2/21
Sales Volume Avg Price 1,124.77 1,401.40 +25% CPO Stock
mil.THB mil.THB
YoY Unit : Ton
340,000 Q2/20 Q2/21
Location Kabin Buri Industrial Estate, Prachinburi under BOI promotion & privileges
320,000
• Biodiesel 800,000 Liters per day
Plant 300,000
• Production of green diesel/PCM 65 Ton per day
Capacity 280,000
• Refined Glycerin 80 Tons per day (by product)
B100 Demand
B100 selling price increased 44.8% YoY after CPO Stock decreased
despite its volume decreased 14% YoY following the Covid-19 outbreak.
Source: Company data, Ministry of Commerce (https://bit.ly/3xEhcPg)
11Fully Integrating Palm Oil Value Chain
New Era Existing and Beyond
Palm Oil Plant in Suratthani
capacity 0.5 ton per day
Bio PCM Plant in Rayong
capacity 130 tons per day
Shore Tank (2 phases)
Palm Oil
Diesel equivalent,
Stabilize CPO Prices
sell to oil companies
Palm >>
Biodiesel Plant in Prachinburi
capacity 800,000 Liters per day
Palm Oil Plant in Krabi
capacity 1.2 tons per day
12Opportunities
of Green Diesel and Bio PCM Bio-PCM absorbs heat above targeted range
Bio - PCM
18-22 ℃
Green Diesel Bio-PCM releases heat if temperature is lower
than targeted range
ü Characteristics equivalent to Euro 5 ü Construction Industry
ü Textile and
ü Jet Fuel
Garment Industry
Block heat
ü Purity
Release heat
ü X2 engine performance X2
13Renewable Power
Business
14Steady Performance of Renewable Power 664 MW
Solar,
278MW • Maintain the performance the same level from
Wind, last year during Covid Situation
386MW
Mil. kWh Solar Wind
1600
EA Solar Phitsanulok
90 MW 1400
EA Solar Lampang
90 MW EA Wind Hanuman (Chaiyaphum) 1200
260 MW
1000
800
600 674 691
321 373 361 330345 365
400 306 330 326
231 202
175146 149157 142 159 167163
200
0
EA Solar Nakornsawan Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 6M/20 6M/21
90 MW
EA Wind Hadkanghan Output Production
(Songkla & Nakorn si thammarat)
EA Solar Lopburi 126 MW
8 MW
15Improving Efficiency &Renewable Power Opportunities
Current Advanced to Improve Solar Efficiency
ü Re-install New Solar Panel ü Sun Tracker ü Robot Cleaning
Current Advanced to Improve Solar Efficiency
Feasibility
ü Waste Energy ü Hydro Power Up to 2,880MW
• Koh Sichang, Koh Chang and Ranong • Saravan and Phamong
16Driving Business
to New Era
17Potential Growth for EV Market: Thailand ZEV Plan
THAILAND EV MARKETS PRIVATE CHARGING FOR ELECTRIC LIGHT-DUTY VEHICLES
WILL DOMINATE IN NUMBER AND CAPACITY
Forecasting number of EV Passenger Car (Accum.) 6,400,000
Forecasting number of charger
(Accum.)
2,050,000
402,000 40,500
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 13,450
Forecasting number of EV Truck & EV Bus (Accum.) 430,000 2,460
2025 2030 2035
160,000
31,000
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Source: State policies EV Committee
18Potential Growth for Thailand Battery
120 BATTERY DEMAND
Gwh
100
80
60
100
40
20 38
0 20
2025 2030 2035
Thailand EV production target keep surging demand of battery
more than 100 Gwh per year in 2035
Source: Thailand EV Board Resolution
19EV Business Structure
EA Mobility Holding
55% 100% 100% 40% 75% 100% 71.2%
Absolute Mine Mobility E Smart Transport Mine Mobility Amita Taiwan
NEX EV Now *
Assembly (AAB) Corp. (MMC) (EST) Research
EV Ferry – Own and Capital 1,674.45
Produce, EV Car – Produce, Capital 50M.THB R&D all electric Energy Storage
operate mass M.THB
assemble all buses assemble, sell all vehicles Business
transport service • Rent
and vans and sell passenger EV Distribute EV Bus
and tourism • Domestic&Overse
to distributor and hire AAB to 100%
as sale
produce and Amita TH
• After sale service
assemble
PRODUCER • Autopart R&D SUPPORT
45% • Service for all Energy Storage
100% buses Business
Chao Phraya
PRODUCER &
River Line(CRL)
DISTRIBUTOR DISTRIBUTOR
Transportation
service and tourism
operator 20Energy storage
Business
21Amita’s Reputable and Experienced in Energy Storage
ü Proven and strong experience over 20 years
ü Produce lithium-ion power battery with strong material science research and long test data
accumulation supported by ITRI.*
ü Turnkeys of high technology battery factory for EV in Beijing
ü Various patents
ü Awarded submarine in Taiwan
ü Bringing Amita to manufacture in Thailand for BOI, Free Zone, Competiveness & Sustainability
ü World class machine and facilities
* ITRI, a nonprofit R&D organization of Taiwan, who played a vital role in Taiwan's economic growth,
strengthen capabilities of innovation and cooperation with international partners all over the world.
22One-stop Service for Customers
In Free zone Accept for All types of Cooperations
• Efficient and convenient for Import- (JV, exclusive production line, etc)
Export
• Tax Benefits lead to competitiveness • Supply all types of products (cells, modules, packs)
• Quickly scale up and running
Cell Module Pack
23Energy Storage System : Core Technology for New Businesses
EV Electric Electric Electric
Charging Vehicle Ferry Bus
Station (EV) (E-Ferry) (E-Bus)
Phase I Final Target
Energy
Energy
1 GWh 50 GWh Trading
Storage
System
System
(ESS)
24Amita’s Competitive Battery Features
Ultra Fast Charge Solid State
ü Fast charging 4C (15 Mins Charge)
ü Long cycle life over 3,000 (>8 Yrs)
Durable Charge
ü Higher energy density
ü Charging 1C (1-Hour Charge)
ü Ultra safety
ü Long cycle life over 8,000
ü Good conductivity and stability
NOW All in-house development NEXT
25AMITA Li-ion is the Key for Commercial EV
EV Car E-Truck
EV Bus AMITA Li-ion E-Ferry
Battery
EV Mini Bus
26ESS The Game Changer
Renewable Energy Hybrid Potential Location of Energy Storage System
in Power Gid
Renewable ESS Household/EV
• Support the use of electricity in remoting area
Support the use of electricity in
• Support energy trading
remoting area
• Shift growth when EV demand comes
27Progress of Battery Factory Project
EV Ecosytem Integration
Installation Ready to Commence
& Test Run Full System the Production by 2021
Total space is approximately 75,000 m2
* Capacity in Phase I (1Gwh) can reserve to 2 – 4 GWh
28Electric Vehicle
Business
29EA - EV Ecosystem
Leading Thailand’s EV to Support EA’s Sustainable Growth
Battery EV Vehicle Factory EV Vehicle EV Charger After service
High quality of battery World Class Factory Various type of EV vehicle Fast charge technology High standard of
supported by in-house strong designed by Professional offering commercial fleet will accerelate the After sales service
R&D with countless patents with international business come up with fast electrifying source of is one stop service
standard charge technology energy usage in for all model of our
commercial fleet EV vehicle
business
30EV Business Structure
EA Mobility Holding
55% 100% 100% 40% 75% 100%
Absolute Mine Mobility E Smart Transport Mine Mobility
NEX EV Now *
Assembly (AAB) Corp. (MMC) (EST) Research
EV Ferry – Own and Capital 1,674.45
Produce, EV Car – Produce, Capital 50M.THB R&D all electric
operate mass M.THB
assemble all buses assemble, sell all vehicles
transport service • Rent
and vans and sell passenger EV Distribute EV Bus
and tourism • Domestic&Overse
to distributor and hire AAB to
as sale
produce and
• After sale service
assemble
PRODUCER • Autopart R&D SUPPORT
45% • Service for all
100% buses
Chao Phraya
River Line(CRL)
DISTRIBUTOR
Transportation
service and tourism
operator 31EV’s Eco-system: All modes of EV Applications
eBus, eFerry and
other commercial vehicles
MINE Truck
Ready Next Year
MINE BUS
Battery size: 250-350 kWh Max Speed: 80 km/h
Rang/Charge: 250 km Max passenger: 80
MINE Smart Ferry
Battery size: 800 kWh Max Speed: 18 knot
Rang/Charge: 100 km Max passenger: 250
MISSION NO EMISSION
32The largest Integrated E-Bus Plant in Southeast Asia
BUILD TO HIGHEST QUALITY
1.The plant designed by professional team who had
designed international automotive manufacturing
2.Machine Sourcing / Installation / Commissioning by
expertise in the automotive industry
3.Monitoring production process by professional partners to
meet global standards and high quality of electric vehicles
• Company: Absolute Assembly Co.,Ltd.
• Location: Chachoengsao
• Capacity: Up to 3,000 units per year
• Standard Granted: ISO:9001
• Area: Over 65,000 sq.m3
AAB – Global Standard E-Vehicles Plant
33Electric Bus with Time Saving for All 4 Times
Faster
300
VinBus 250 480 480
560 700
400 500
200 320
Vinfast’s VinBus 240 240
150 160 300
§ Company – Vinfast (Vietnam) 80
100 100
§ Range per charge – 220 to 260 km
40 40 40 40 40 40 40 40 40 40 40 40 40 40
50 -100
§ Charging Time – 2 hours (150 kW fast charge)
0 -300
5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00
Running Distance (km) Accumulated Distance (km)
300 900
700
MINE Mobility’s MINE Bus 250
620 700
540
§ Company – MINE Mobility (Thailand) 470
200 390 500
310
§ Range per charge – 220 to 280 km 240
150 160 300
§ Charging Time – 15 to 20 minutes (900 kW DC 80
super fast charge) > 4 time faster !! 100 100
40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40
50 30 30 -100
0 -300
5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00
Fast charge model suits with commercial vehicle segment as it requires
Running Distance (km) Accumulated Distance (km)
less charging time, thus more asset utilization during the dayElectric bus fleet
Green Fleet for a Sustainable Transportation
Over 100 Completed Production 48 Derivering
35The First Thai Electric Ferry for Transportation and Tourism
Battery capacity:
800 kWh
Max Passenger 250
Range 80 – 100 km.
per single charge
Ultra Fast Charge within 15 Mins with 2 stations in North & South
5 May 2021 17 May 2021 Within 3Q2021
Commenced Fully operate from Nonthaburi Pier to 27 electric ferries to be ready
operation Phra Nang Klao Pier – Sathorn Pier
www.minesmartferry.com 36The First Thai Electric Ferry with Cost Saving for All
77% Cheaper in the Same Destination
Electric Train
86 Baht
86 Baht
Sathorn Phra Nang Klao
MINE Smart Ferry
20 Baht
20 Baht
Sathorn Phra Nang Klao
37GHG Emission Reduction
Saving Diesel Fuel
4,029,260 Liters/yr
10,879 tCO2e/yr
Based on 6 trips/day (365 days) service and 1 diesel boat uses 80 liters of diesel fuel
Greenhouse Gas Emissions 0.2159 tCO2e/yr per trip when serving 23 boats (Excluding 4 cruise ships) 38EV Charging
Platform
39Urbanization and Sustainablity Creates
Demand Supporting by Commercial EV
40Department Stores
~ 440 1,100 600
Ahead of Charging Station Ahead of Charging Station
No. of Locations
~ ~
AC (Normal Charge) DC (Super Fast Charge) Retails & Mix Use
EA Anywhere Charging Station Platform
• DC Ultra-Fast Charger 300 kW/ 14 charging stalls / 28 chargers
• Equipped with control systems, command and status monitoring that Oil Stations
is convenient and safe following on the charging standards
• 80% within 15-20 minutes with Ultra fast charging (Depend on
battery size) Offices & Property
~1,700
Over 70%
Total Ahead of Charging Station
No.1 in the Country Market Share
DC (Ultra Fast Charge 300 kW) Source: Electric Vehicle Association of Thailand (EVAT) Modern trade
As of 7 May 2021
EA ANYWHERE Application
Available now
Hit ~ 20,00 downloads 41EV Charging’s Competitive Advantages
ü Integrated EV charging to various business models
ü Industry leading charging design and maintenance
ü Fast charging technology with parallel charging
ü Leading R&D to support future technology
ü Secure prime location in urban areas
ü Business proven and first mover in Thailand
42EV Charging’s Various Business Models and Opportunities
Future Growth
Only Residential Usage
SELLING CHARGER Selling Charger Slow and medium Charge
maximum 40 kWh suitable for
residential and working place
Selling Charger
Maintenance Commercial Usage
package Fast Charge) Maximum 300kWh
suitable for commercial EV vehicle
Monitoring
Application
Located in prime area
including Community mall
Urban Charging parking, Gas station, Office
building serving daily use for
passenger car and taxi
OPERATE Develop charging station
Interstate / Stand along the interstate road to E xp an d t h e c o v e r a g e
alone Charging facilitate all commercial EV charging area to all
Station vehicles and passenger car potential public and
for long-length journey
private location
including interstate
charging station at all
interstate road.
43Ultra Fast Charge Solution
Battery 250-350 kWh
for 250 km
1-1.4 MW
Battery 800 kWh
3.2 MW for 100 km
MINE Smart Ferry Charging Station
442021 Investment Plan
45Investment Plan in 2021
Investment Plan Progress / Target Capital Investment in 2021
32 mil.THB to invest in small machinery and New Power
Bio Diesel & PCM Projects
equipment
126
2.1%
Battery Business
Battery Plant
1,223 mil.THB. To start production in 2021 1,223
(Thailand) 20.0%
1,506 mil.THB. Comprise of EV Bus and E Ferry.
EV Business
426 mil. THB. Currently, achieve around 500 Power 6,100 mil.
EV Charging stations in 53 provinces with more than 2,000 Business,
outlets installed and expanding to nationwide
2,787 , 45.7% THB
2,787 mil. THB. Mainly, to improve performance of
Power Business
solar plants and investing in new project
New Power Projects 126 mil.THB. Under studying EV Business,
1,506 , 24.7%
Bio Diesel & Charging
PCM Stations
32 426
0.5% 7.0%
46Leading Thailand’s EV to Boost EA’s Sustainable Growth
Disclaimer This presentation contains summary information about Energy Absolute Public Company Limited (“EA” or “the Company”) and its subsidiaries as of 25 May 2021 and, unless stated otherwise. The information does not purport to be complete or comprehensive. This presentation contains forward looking statements that may be identified by use of words such as “anticipates,” “hopes,” “expects,” “estimates,” “intends,” “projects,”“plans”, “predicts,” “projects”, “aims” or other similar expressions that are used to identify such statements. Forward looking statements are based on certain assumptions and expectations of future events. No guarantee nor assurance is made that these assumptions and expectations are accurate or will be realized. Such forward looking statements should be considered with caution, since actual results may differ materially from those expressed or implied by such statements. The information in this presentation were obtained from various external sources which has not verified through any independent source. No representation or warranty, either express or implied, is made regarding the accuracy, completeness, correctness, reliability, or scope of the information and disclaim all responsibility and liability for the information (including, without limitation, liability for negligence). This presentation is provided for the sole purpose of enhancing understanding of the Company and should not be construed as a legal, tax or investment recommendation or any other type of advice. The Company does not provide any representation, warranty, endorsement, or acceptance, about opinion or statement of any analyst s or other third parties; or the use of any such opinion, or statement of any analysts or other third parties. This document is strictly confidential and being given solely for your information and may not be shared, copied, reproduced or redistributed to any other person in any manner.
IR Contact IR@energyabsolute.co.th (+66) 02 248 2488 ext. 19531 www.EnergyAbsolute.co.th
You can also read
