opportunity's dayeng q2'62(21.08.62)-ลà¹...
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บริษัท เด็มโก้ จํากดั (มหาชน)
DEMCO PUBLIC COMPANY LIMITED10 SEPTEMBER 2019
1. Factory & Sale– Steel structure for transmission line and telecommunication tower
2. SERVICES (as turnkey contractor)– Electrical system
– Mechanical system
– Renewable Power Plant (Wind farm, Solar farm, Waste to energy)
3. Investment– Power Plant : wind farm & Solar farm & Waste to energy
– Public Utility
2
Telecommunication Tower
3
High Voltage Transmission Line
Annual capacity 16000 ton per year
4
ลกัษณะการประกอบธุรกิจ - งานบริการ• ระบบงานวิศวกรรมไฟฟ้าครบวงจร
Hydro/Power Plant
4
Electrical System
500 kV - 230 kV Substation
230 kV - 115 kV Substation
115 kV - 22 kV
Substation
5
1. High Voltage Transmission Line System Construction :
To transmit electrical power from electrical generators to 69 kV – 500 kV substations
Hot dip galvanized steel tower for transmission line manufactured by DEMCO PLC as well.
6
2. High Voltage Substation Construction :
To control, monitor, and step up/down 69 kV – 500 kV power system transmitted from
electrical generators through high voltage transmission line Air Insulated or Conventional Type (Out door) SF6 Gas Insulated Type (In door)
7
3. High Voltage Distribution Line System Construction and Underground Cable System Construction :
HV Distribution system – Concrete poles with accessories construction & stringing conductors or cables to 22kV or 33 kV electrical equipment
HV Underground Cable System – Conduit work and 22 kV – 115 kV underground cable extrusion
8
Design, procure, construct, install, and maintain public utility system of electrical system, air conditioning & ventilating system, sanitary system, and high pressure piping system for gas or steam
9
Renewable Energy :
Design , procure, construct, and install equipment for renewable power plant of Biomass, Wind farm and Solar energy
Past Experience :– Constructed 453 mw wind farm as balance of plant contractor , contracts
amount ฿ 8,046 million
– Constructed 321 mw solar farms , contracts amount ฿ 8,677 million
10
Wind farm : 57.9 mw.
15% in 180 mw. Wind farm (operated 2012 – 2013) = 27.0 mw. 14% in 60 mw. Wind farm (operated 2016) = 8.4 mw. 3.9% in 576 mw. Wind farm (126 mw. operated) = 22.5 mw.
Solar farm : 3.0 mw.
100% in 1 mw. Solar rooftop (COD operated 2014) = 1.0 mw. 45.7% in 3 mw. Solar farm (COD operated 2014) = 1.3 mw. 49-51% in 1.4 mw. Solar rooftop (COD operated 2015) = 0.7 mw.
Water supply system:
100% in water supply system concession (operated 2017)
11
Revenue decreased 27% Q2’18 o Q2’19 ( 1,175 MB ⇨ 859 MB ) Revenue decreased 36% 1H’18 o 1H’19 ( 2,459 MB ⇨ 1,565 MB )
Gross profit decreased 6% Q2’18 o Q2’19 ( 136 MB ⇨ 128 MB ) Gross profit decreased 13% 1H’18 o 1H’19 ( 289 MB ⇨ 252 MB )
Gross profit margin increased Q2’18 o Q2’19 ( 11.66% ⇨ 15.10% ) Gross profit margin increased 1H’18 o 1H’19 ( 11.88% ⇨ 16.32% )
Net profit decreased 88% Q2’18 o Q2’19 ( 50.51 MB ⇨ 5.88 MB ) Net profit decreased 55% 1H’18 o 1H’19 (128.31 MB ⇨ 57.54 MB )
Net profit margin decreased Q2’18 o Q2’19 ( 4.30% ⇨ 0.68% ) Net profit margin decreased 1H’18 o 1H’19 ( 5.22% ⇨ 3.68% )
Revenues by Categories : ฿ million ,%
Statement of Comprehensive Income - Revenues Structure
12
0
200
400
600
800
1,000
1,200
Q2'17 Q2'18 Q2'19
Other Sales Service total
859
1,175
94724%
-27%
88%11%1% 82%18%0% 1% 5% 94% 0
500
1,000
1,500
2,000
2,500
1H'17 1H'18 1H'19
Other Sales Service total
Total revenue of Q2’19 and 1H’19 decreased 27% and 36% compared to the same period of Y’18 from the reduction in
sale business both electrical equipment and telecommunication towers.
1,565
2,459
2,185 13%-36%
81%18%1% 78%21%1% 2% 6% 92%
0
50
100
150
200
250
Q2'17 Q2'18 Q2'19
Electrical equipments Steel Structure total
Statement of Comprehensive Income - Revenues Structure
Revenues from Sale : ฿ million ,%
101
209
41
13
-80%
91%9% 44% 56% 42%58%
107%
Revenues from sale of Q2’19 and 1H’19 decreased 80% and 81% compared to the same period of Y’18 from the decrease
revenue of selling electrical equipment and telecommunication towers because the communication system 4G is coming to
the end of the investment period.
0
100
200
300
400
500
600
1H'17 1H'18 1H'19
Electrical equipments Steel Structure total
389
513
98
-81%
32%
53%47% 55% 45% 57%43%
0
500
1,000
Q2'17 Q2'18 Q2'19
Other Electrical work Renewable Total
Revenues from services of Q2’19 and 1H’19 decreased 16% and 25% compared to the same period of Y’18. The
decreasing came from construction works of substations, from private sector.
Revenues from Services : ฿ million ,%
Statement of Comprehensive Income - Revenues Structure
14
834
961
80815% -16%
51% 36%13% 3% 3%93% 4% 96% 1%0
500
1,000
1,500
2,000
1H'17 1H'18 1H'19
Other Electrical work Renewable Total
1,7701,922
1,443
9%-25%
58% 32%10% 4% 2%92% 4% 95% 3%
For Q2’19 and 1H’19 , the percentage of works from Government Sector increased due to the increasing in EGAT’S
investment. For private sector, it was decreased due to decreasing in renewable energy projects. The investment in renewable
energy is changing from solar farm and wind farm to solar rooftop and waste to energy power plant.
0
500
1,000
Q2'17 Q2'18 Q2'19
Government Private Total
Revenues by Customers : ฿ million ,%
808
961
834
Statement of Comprehensive Income - Revenues Structure
15%
15
-16%
61%39% 53%47% 27%73% 0
500
1,000
1,500
2,000
1H'17 1H'18 1H'19
Government Private Total
1,9221,770
1,443
61%39% 52%48% 27%73%
-25%9%
0
50
100
150
Q2'17 Q2'18 Q2'19
Gross Profit - sales Gross profit - service Total
Gross Profit : ฿ million ,%
Statement of Comprehensive Income Earning from operation
Gross profit of Q2’19 and 1H’19 decreased 6% and 13% because of the reduction in revenue which decreased 27% and 36%,
when compared to the profit of Y’18.
16
94
136 -6%
45%
128
81%19% 91%9% 99%1% 0
100
200
300
1H'17 1H'18 1H'19
Gross Profit - sales Gross profit - service Total
252
289-13%22%
238
74%26% 88%12% 95%5%
Statement of Comprehensive Income Earning from operation
15.10%
11.66%
10.06%
0%
5%
10%
15%
20%
Q2'17 Q2'18 Q2'19
Gross profit margin
Average Gross Profit margin : %
17
Average gross profit margin of Q2’19 and 1H’19 increased when compared to the same period of Y’18 because of the
higher GP in service business.
16.32%
11.88%11.00%
0%
5%
10%
15%
20%
1H'17 1H'18 1H'19
Gross profit margin
-315%
49%
44%
56%415%
51%
-20
-10
0
10
20
30
40
50
Q2'17 Q2'18 Q2'19
Profit exclude share profit (loss) associates Share profit(loss) associates
Net Profit : ฿ million ,%
Statement of Comprehensive Income Earning from operation
18
5.88
50.51
22.06
Net profit of Q2’19 and 1H’19 decreased when compared to the same period of Y’18 due to the decreasing in revenue and
increased from admisistrative expenses (compensation for loss of production to K.R.2 Co., ltd during the remedy turbine
foundations).
-3%
52%
15%
85%103%
48%
-50
0
50
100
150
1H'17 1H'18 1H'19
Profit exclude share profit (loss) associates Share profit(loss) associates
75.0657.54
128.31
Statement of Comprehensive Income Earning from operation
2.39%
4.30%
0.68%
0%
1%
2%
3%
4%
5%
Q2'17 Q2'18 Q2'19
Net profit margin
Net Profit margin : %
19
Net margin of Q2’19 and 1H’19 shown profit 0.68% and 3.63% due to the decreasing in revenue and increased from
administrative expenses (Special entry).
3.48%
5.22%
3.68%
0%
1%
2%
3%
4%
5%
6%
1H'17 1H'18 1H'19
Net profit margin
Statement of Financial Position
20
3,943 3,881 3,866
3,2412,2752,026
2017 2018 1H'19
Current assets
Non-current assets
7,184
5,907 6,141
ASSET
KEY RATIO
Debt to Equity Interest Bearing Debt to Equity ROE ROA
2017 1.36 2017 0.68 2017 2.10 2017 0.89
2018 0.85 2018 0.46 2018 4.56 2018 2.46
1H’19 0.92 1H’19 0.47 2019 F 2.39 2019 F 1.24
LIABILITIES & EQUITY
3,045 3,191 3,193
489 445 372
3,6502,271 2,576
2017 2018 1H'19
Current liabilites
Non-Current liabilites
Shareholders'equity
6,1415,907
7,184
45%
55%
34%
66%
37%
63%
51%
42%
38%
54%
42%
52%
7% 8% 6%
Projects Backlog(Separate financial statements)• Until 9 September 2019 of amount 3,143.68 MB
21REMARK : This report has been prepared follows the regulation of SEC
BACKLOG PROJECT
Project Type Quarter 1-2 2019 Quarter 3-4 2019 Year 2019 Year 2020-2021
Project value Amount Project value Project value Project value
(MTHB) (Project) (MTHB) (MTHB) (MTHB)
Electrical Engineering Work 1,366.30 69 1,011.46 2,377.76 981.51
M&E System - - - - -
Signaling work 36.89 3 38.47 75.36 1,030.47
Steel structure work - - - - -
Hardware sale 20.76 - - 20.76 -
Subtotal 1,423.95 72 1,049.93 2,473.88 2,011.98
Renewable Energy 39.57 2 81.77 121.34 -
Subtotal 39.57 2 81.77 121.34 -
Contract being signed - - - - -
Grand total 1,463.52 74 1,131.70 2,595.22 2,011.98
1. Renewable and Alternative Energies Development Plan during the year 2016 -2036 – Private PPA
2. EGAT's Investment Budget during the year 2015 - 2022 MTHB 123,200 2.1 Constructing new Transmission Lines, Substations, Switching Stations MTHB 60,000. 2.2 Renovation and Improvement existing Transmission Lines in Western and Southern region MTHB 63,200.
3. MEA's Investment Budget during the year 2016 - 2026 MTHB 48,717 - Constructing Underground Cable System in Metropolitan City.
4. PEA’s Investment Budget during the year 2016 - 2021 MTHB 62,678- Constructing Transmission and Distribution Line system as development project
stage 1.5. PEA's Investment Budget during the year 2017 - 2020 MTHB 11,000
- Constructing Underground Cable System in Provincial Countries
22
Wind turbine foundation remedy budget
Estimated Estimated Estimate Estimate Estimated Estimate Estimated Aggregate Estimated
total total and cost for and cost for total and cost for total actual cost Improvement
improvement improvement accounting accounting improvement accounting improvement Ended at cost (For
cost cost recorded recorded cost recorded cost remaining Works)
year 2015 year 2016 in year 2017 in year 2018 (until 2018) in 1H'19 (until Q2'19) (until Q2'19) At Jun 30,2019
Improvement cost 410.51 197.92 36.92 36.34 681.69 - 681.69 603.39 78.3
Re-design cost,advisor cost, insurance,etc 93.72 - - 17.36 111.08 - 111.08 96.79 14.29
Sub-total cost 504.23 197.92 36.92 53.70 792.77 - 792.77 700.18 92.59
Compensation for Loss of production cost* 398.74 297.83 59.75 32.59 788.91 71.04 859.95 859.95 -
Total cost 902.97 495.75 96.67 86.29 1,581.68 71.04 1,652.72 1,560.13 92.59
Deduct owner's compensation (30.00) - - - (30.00) - (30.00) (30.00) -
Net cost 872.97 495.75 96.67 86.29 1,551.68 71.04 1,622.72 1,530.13 92.59
Description
23
Q&A