Q. 1/2012

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Dynasty Ceramic
“We are making the impossible,
POSSIBLE.”
Contents
Road to Success
Sales Reports
Cost of Production
Performance
Competitor Analysis
Going Forward
Q&A
2
Dynasty Ceramic
“Road to Success”
Timeline
Forbes Award − Best
Under a Billion 200
Companies in 2002
Registered as
PCL on the 4th
of March 1994
1st company
owned outlet
in 1998
Established
on the 1st of
August 1989
Dynasty
Production
Process in 2004
2004
32.2 M
DCC
Timeline
Computerized
Systems in the
middle of 2007
2006
37.4 M
Forbes Award − Best
Under a Billion 200
Companies in 2010
2008
42.2 M
Listing on the
SET on the 3rd of
January 1992
Forbes Award − Best
Under a Billion 200
Companies in 2006
Registered Capital of
408 million Baht in
2000
2010
51.6 M
2009
45.1 M
2005
35.5 M
Merged with Tile
Top Industry at
the end of 1997
SET Outstanding
Performance Award
2011
2012
64 M
2011
58.6 M
Ranked 17th world’s
Largest Ceramic Tile
Manufacturer in 2008
Waste Heat
Recovery
System in 2007
Dynasty Ceramic on 200
Best Public Companies
of the years 2010
Magazine
4
Our Growth
Forecast
2012
9,000
250
8,000
200
7,000
6,000
150
5,000
Outlet
Sales per Outlet
Outlet Sales
4,000
100
Revenue
Agent Sales
3,000
2,000
50
1,000
-
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
DCC “with” Thai People
Dynasty Ceramic
“Sales Reports”
Sales Volume
Sales Value
Sales Volume & Sales Value Y2012
SALES VOLUME(M.Sqm.)
1Q
12
%GROWTH
1Q
11
2%
2Q
11
3Q
11
4Q
11
Y
11
SALES VALUE(MB)
1Q
12
1Q
11
4%
2Q
11
3Q
11
4Q
11
Y
11
Sales Volume & Sales Value 1Q2012
SALES VALUE(MB)
SALES VOLUME(M.Sqm.)
1Q12
%GROWTH
4Q11
29%
1Q11
2%
1Q12
4Q11
28%
1Q11
4%
Outlet Quarterly Sales Performance by Region (MB)
Outlet Quarterly Sales Performance by Region (%)
(%)
(ล้านบาท)
Agent 4%
Agent 9%
Agent 6%
Agent 1%
Agent 4%
Agent 3%
Agent 9%
Agent 2%
Agent 3%
Agent 8%
Agent 5%
Agent 7%
Agent 2%
Agent 2%
Agent 1%
Agent 6%
Agent 2%
Agent6%
Agent 4%
Agent 5%
Agent 2%
Agent 3%
Agent 3%
Agent 1%
Agent 2%
เปรียบเทียบยอดขายตามช่ องทางจาหน่ าย Y2009 – 2011, 1Q2012 (MB)
(ล้านบาท)
Sales Comparison by Distribution Channel Y2010 – 2011, 1Q2012(%)
(ล้า
Sales Comparison by Product Type Y2009 – 2011,1Q2012 (MB)
(ล้านบาท)
Sales Comparison by Product Type Y2010 – 2011,1Q2012 (%)
Dynasty Ceramic
“Cost of Production”
Cost of Production Y2011
19
Cost of Production 1Q2012
20
Dynasty Ceramic
“Performance”
Notices
 30% Tax (1Q11)
 DCC adopted new accounting standard (2011)
 TAS19 - Employees’ Benefit Obligation (1Q11)
 First 85 Million Baht booked in Liabilities
 12-15 Million Baht per year
 Sales’ promotion and commission fee deducted
directly from “Sales” (1Q11)
 Revising assets and its depreciation (2Q11)
 23% Tax (2012)
22
QUARTERLY PERFORMANCE
M.฿
M.฿
NET PROFIT(MB)/EARNINGS PER SHARE(BAHT) 1Q2012
NET PROFIT(MB)
1Q12
%GROWTH
47%
4Q11
2%
1Q11
EARNINGS PER SHARE(BAHT)
1Q12
4Q11
1Q11
Performance
Revenue (Bt mil)
Cost of Goods Sold (Bt mil)
Gross Profit (Bt mil)
Gross Profit Margin (percent)
SG&A (Bt mil)
Net Profit (Bt mil)
Sales (Bt mil)
Sales Volume (Sqm. mil)
Average Sales Price (Bt/Sqm.)
FY06
FY07
FY08
FY09
FY10
FY11
1Q12
4,460
4,475
5,095
5,905
6,531
7,227
2,096
(2,829)
(2,742)
(3,130)
(3,384)
(3,630)
(4,143)
(1,264)
1,631
1,733
1,965
2,521
2,901
3,084
832
37
39
39
43
44
43
40
(742)
(791)
(978)
(1,079)
(1,208)
(1,237)
(347)
567
543
664
994
1,175
1,243
373
FY06
FY07
FY08
FY09
FY10
FY11
1Q12
4,452
4,458
5,089
5,884
6,511
7,207
2,093
34
35
41
47
51
56
16
125.38
128.62
128.91
128.93
129.31
125.72 124.65
25
Performance
FY06
FY07
FY08
FY09
FY10
FY11
1Q12
Gas Cost of COGS (Bt mil)
619.06
549.06
929.76
702.97
946.81
1,314.41
381.31
Natural Gas Price (Bt/MMBTU)
259.39
257.09
354.44
245.54
303.07
371.67
412.03
Transportation Cost (Bt mil)
362.15
345.70
438.51
410.48
517.39
598.06
170.08
Transportaion Cost (Bt/Sqm.)
10.34
9.58
10.69
8.66
9.97
10.58
10.56
Oil Price (Bt/Litre)
25.58
25.50
31.17
23.87
28.50
29.44
31.29
26
Key Financial Ratios
FY06
FY07
FY08
FY09
FY10
FY11
1Q12
ROE
27.74
23.86
28.45
39.02
43.80
46.78
13.29
ROA
13.03
13.40
16.72
26.43
31.99
30.99
8.51
EPS (Baht)
1.39
1.33
1.63
2.44
2.88
3.05
0.91
D/E
1.13
0.78
0.59
0.34
0.36
0.62
0.47
2.78
1.78
4.40
9.89
9.41
8.95
P/BV
Pay Out Ratio
70%
75%
77%
85%
100%
100%
100%
Dividend Per Share
0.97
1.00
1.25
2.08
2.88
3.05
0.91
27
Dynasty Ceramic
“Competitor Analysis”
Sales Volume (M.Sqm.)
29
Sales Value (MB)
30
Profit (MB)
31
ASP (Baht/Sqm.)
32
Dynasty Ceramic
“Going Forward”
Risk Factors
 Natural Gas price is said to increase 5% in 2012
 Natural Disaster worse than previous year?
 Government Policies
Production Capacity Expansion Plan
2012
2012 Outlook
 Targeting 10% growth in revenue
 Targeting to open 15 outlets
 Targeting 42% gross margin
 Increase ASP to 133 Baht
 Domestic market share up to 50%
 Increase 5% in production capacity by modifications
 More than 95% capacity utilization rate
 Reduce 5% of labor
 Reduce SG&A
 Intensive training programs for all employees
36
…and Next?
 Targeting 10 billion Baht Revenue at the end of 2014
 Increase same store growth
 350 Outlets in 2021 throughout Thailand
 Reduce 5% of work force every year for the next 5 years
 Improve gross profit margin
 Maintain 100% dividend pay out
 Looking for market opportunity abroad
 Research, Research, Research
Dynasty Ceramic
“Questions?”
MARUTH SAENGSASTRA
Vice President & C.I.O.
Dynasty Ceramic PCL.
Tile Top Industry PCL.
37/7 Sutthisarn Rd.,
Samsennok, Hueykwang
BKK.10310
E-mail :
[email protected]
m
39
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