Opportunity day - SET · 2019-02-27 · kiosk spot New Business Expansion Develop Intelligent kiosk...
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Opportunity day 4Q18 27 Feb 2019
Transcript of Opportunity day - SET · 2019-02-27 · kiosk spot New Business Expansion Develop Intelligent kiosk...
Opportunity day 4Q18
27 Feb 2019
FSMART overview
FSMART Highlight
Financial performance
Business outlook
Agenda
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Key development
2008 2014 2016 2017 2018 2013 2015
2008 Established Forth Smart Service Co.,Ltd
2013 Spin-off from Forth Corporation Pcl.
2014 • Listed in MAI (Paid-up Capital 400 MB) • Launched ‘Boonterm Counter Service’
2015 • Launched ‘RO Water Machine’
and ‘Weight Scale Machine’ • Invested in Forth Vending Co.,Ltd.
2009
2009 • Launched ‘Boonterm kiosk’ • Runner-up award “Agritronics & Automation”
of Thailand Embedded Product Award by TESA
2016 • Established “Forth Smart Trading Co.,Ltd.” • Launched ‘BeWallet’ (e-Wallet mobile application)
2017 • Established “Forth Smart Digital Co.,Ltd.” • Launched ‘BeMall’ (e-Market place) • Invested in BOX24 Co.,Ltd
2019 • Launch ‘Boonterm intelligent kiosk’ (Selling Sim card and e-KYC service) • Expand to New Business - Personal Loan/Nano Finance - EV motorcycle Station
2018 Developed Boonterm kiosk to be intelligent kiosk
2019
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Our products
Business model
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Business model
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FSMART overview
FSMART Highlight
Financial performance
Business outlook
Agenda
Investment Highlight
Unique business model
Franchise system
Recurring income
Revenue sharing
No. of “Boonterm” was 130,053 kiosks (4.3% YoY)
Top up value Bt41,980mn (16.1% YoY)
2 million transactions per day
23 million active subscribers
Avg. 56 Baht per transaction
Core revenue of Bt3,339mn (7.5% YoY)
Net Profit of Bt583mn (7.4% YoY)
ROE of 49.3%
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Business highlight
As of Dec 2018
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18.5% Money
Transfer
3.8% Bill Payment
4.6% E-Wallet
3.0% Others
Our services
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70.1% Mobile Top up
Kiosks by region
As of DEC 2018
23,237
19,425
18,473
38,412
14,269
16,237
18%
15%
11%
14%
12%
30%
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As of Dec 2018
Total 130,053 Kiosks
Boonterm Kiosks
Business Partners
• 24,187 Kiosks
• 62 Partners
As of Dec 2018
Kiosks No. by proportion
Agents
• 105,866 Kiosks
• 181 Agents
19% 81%
Total 130,053 Kiosks
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Boonterm Kiosks
Thailand’s prepaid mobile market
41.2M* 21.2M* 28.8M**
Mobile Subscribers in Thailand 2018
28,756,000
Postpaid 7,389,000**
Prepaid 21,367,000**
41,169,200 Postpaid 8,189,900
Prepaid 32,979,300
21,202,000 Postpaid 6,071,000
Prepaid 15,131,000
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* Figures from the announcement of those three operators
(69 M) 76% (91 M)
**Estimated
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Mobile Top up value
Monthly Mobile Top up value
Note 1 : Top up and ARPU increase in Dec, due to decline of rainy season effect. Note 2 : Top up and ARPU slow down ,YoY, due to the following - Not focus on expanding the kiosk number. - Emphasize on relocating non-performing kiosks. - External factors.
Thailand’s prepaid mobile market
top up through FSMART’s channels
33% (23 Million)
Of total prepaid subscribers
(69 Million*)
Use Boonterm kiosks
OF MARKET VALUE (31,210 THB MN*)
22% (6,876 THB MN)
* Estimated
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Thailand’s prepaid mobile market 23%
8%
Kiosk 30%
Channel*
28% BANK
1%
10%
12%
29%
20%
6%
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* Estimated
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Money Transfer value
Monthly money transfer value
20,000
40,000
60,000
Transaction
FSMART overview
FSMART Highlight
Financial performance
Business outlook
Agenda
Financial performance
Total transaction value, total revenues from core business and no. of kiosks
2,245 3,105 3,339
23,383
36,175
41,980
2016 2017 2018
92,082
124,653 130,053
3.5% YoY
833 832 820
10,085 10,506 10,442
4Q17 3Q18 4Q18 1.5% QoQ
1.6% YoY
124,653
130,109 130,053
0.6% QoQ
Note : Total transaction value & revenues decline, QoQ, due to slowdown of the grassroots economy. -
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Financial performance
2018
41,980 MB 3,339 MB
Service proportions Revenue proportions
80% 73%
17% 10%
5%
3% 4%
Usage amount by service
7,858 7,914 7,852 7,584 7,324
270 316 372 384 398
1,475 1,613 1,731 1,836
1,931
318 390 441 454 475
164 188 215 249 314
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
4Q17 1Q18 2Q18 3Q18 4Q18
Mobile Top up Bill payment Money Transfer
E-Wallet Others
77.9% 75.9% 74.0% 72.2% 70.1%
2.7% 3.0%
3.5% 3.7%
3.8%
14.6% 15.5% 16.3% 17.5% 18.5%
3.2% 3.7% 4.2% 4.3% 4.6%
1.6% 1.8% 2.0% 2.4% 3.0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
4Q17 1Q18 2Q18 3Q18 4Q18
Mobile Top up Bill payment Money Transfer
E-Wallet Others
3% 2%
10,085 10,421
10,611 10,506
10,442
1%
Remark : Usage Amount = Service Amount + Service Charge
1%
Financial performance
Note: 4Q18 Top up amount decreases due to slowdown of the grassroots economy 22
94.35%
83.40%
73.07%
1.79%
2.20%
3.50%
1.84%
11.30%
16.94%
1.70% 4.19%
2.02% 1.50% 2.30%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
100.00%
2016 2017 2018
Mobile Top up Bill payment Money Transfer
E-wallet Other
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22,062
30,158 30,674
418
781
1,470
431
4,073
7,111 611
1,760
472
551
966
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
2016 2017 2018
Mobile Top up Bill payment Money Transfer
E-wallet Other
Usage amount by service
Financial performance
23,383
36,174
41,980
Gross profit (THB Million)
Gross profit margin & Net profit margin ROE / ROA
Net profit (THB Million)
571
732 708
175 176 167
2016 2017 2018 4Q17 3Q18 4Q18
4.6% YoY
5.1% QoQ 420
543 583
123 145 142
2016 2017 2018 4Q17 3Q18 4Q18
15.5% YoY
2.1% QoQ
25.4% 23.6% 21.2% 21.0% 21.1% 20.3%
18.7% 17.5% 17.5% 14.8%
17.5% 17.4%
2016 2017 2018 4Q17 3Q18 4Q18
Gross Profit Margin Net Profit Margin
37.6% 43.1%
49.3% 43.1% 46.0% 49.3%
15.5% 14.6% 14.3% 14.6% 13.9% 14.3%
2016 2017 2018 4Q17 3Q18 4Q18
ROE ROA
Financial performance
Note: - Gross profit decrease due to the depreciation cost . ** The depreciation ratio to the core revenue will tend to decrease from the kiosk that its useful life is 8 years
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Financial performance
Total assets (THB Million)
Total shareholder’s equity (THB Million)
Total liabilities (THB Million)
Debt to Equity & Interest bearing debt to Equity
3,185
4,260 3,916 3,860 3,916
2016 2017 2018 3Q18 4Q18
2,002
2,926 2,662 2,748 2,662
2016 2017 2018 3Q18 4Q18
1,183 1,334
1,254 1,112
1,254
2016 2017 2018 3Q18 4Q18
1.69
2.19 2.12 2.47
2.12
0.77 1.13 0.99
1.21 0.99
2016 2017 2018 3Q18 4Q18
D/E IBD/E
1.4% QoQ
12.8% QoQ
3.1% QoQ
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Note: - Shareholder’s equity increase QoQ due to an increase of net profit. - D/E Ratio decrease due to payment of long term loan to financial institutes and the increase of shareholders' equity from net profit increased
Financial performance
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(THB Million)
Financial Highlight
Year 2014 2015 2016 2017 2018
Revenue 1,163 1,684 2,425 3,105 3,339
EBITDA 355 561 829 1,098 1,242
%EBITDA 30.52% 33.31% 36.9% 35.4% 37.2%
Net Profit 153 272 420 543 583
%NI 13.2% 16.2% 18.7% 17.5% 17.5%
EPS 0.24 0.34 0.53 0.68 0.74
DPS 0.20 0.28 0.42 0.55 0.62
Payout (%) 83% 82% 79% 81% 84%
-
1,000
2,000
3,000
4,000
2014 2015 2016 2017 2018 Revenue EBITDA Net profit
FSMART overview
FSMART Highlight
Financial performance
Business outlook
Agenda
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To manage ARPU more than 5% of growth - Efficient kiosk spot - New services - Customer expansion - Frequency use
To move the kiosks from the location that generate low income to higher income
To increase total usage amount more than 10%YoY
To expand new target of customer by launching 2 new businesses: Personal Loan/Nano Finance
and the service station for charging/replacing battery for electric motorcycle
Focus on kiosk spot
New Business
Expansion
Develop Intelligent
kiosk
Increase usage
amount
ARPU management
To modify the kiosk to be intelligent kiosk; providing selling Sim card and e-KYC service.
2019 - Objectives
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FSMART News
(เปิดใหบ้รกิาร 1 เม.ย.)
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FSMART News
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2019 Business Plan
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2019 Business Plan
FSMART 3 Years Plan
Top up value growth of 20% CAGR 2021 Goals
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15,386
23,383
36,174
41,980
46,178
51,000
56,000
65,867
92,082
124,653 130,053
135,053 140,000
145,000
2015 2016 2017 2018 2019F 2020F 2021F
Total topup value (Mil. Baht) No. Of Kiosks
Total transaction value growth
FSMART Investor Relations www.boonterm.com E-mail:[email protected]
Disclaimers Statements included or incorporated in these materials that use the words "believe", "anticipate",
"estimate", "target", or "hope", or that otherwise relate to objectives, strategies, plans, intentions, beliefs or
expectations or that have been constructed as statements as to future performance or events, are
"forward-looking statements" within the meaning are not guarantees of future performance and involve
risks and uncertainties that could cause actual results to differ materially from historical results or those
anticipated at the time the forward-looking statements are made.
FSMART undertakes no obligation to publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. FSMART makes no representation whatsoever
about the opinion or statements of any analyst or other third party. FSMART does not monitor or control the
content of third party opinions or statements and does not endorse or accept any responsibility for the
content or the use of any such opinion or statement.
