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() DEMCO PUBLIC COMPANY LIMITED 10 SEPTEMBER 2018 1. Factory & Sale Steel structure for transmission line and telecommunication tower 2. SERVICES (as turnkey
บริษัท เด็มโก้ จ ำกัด (มหำชน)
DEMCO PUBLIC COMPANY LIMITED 10 SEPTEMBER 2018
– Steel structure for transmission line and telecommunication tower
– Electrical system – Mechanical system – Renewable Power Plant (Wind farm, Solar farm, Waste to energy)
– Power Plant : wind farm & Solar farm & Waste to energy – Public Utility 2
Telecommunication Tower
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High Voltage Transmission Line Annual capacity 16000 ton per year
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้ าครบวงจร
Hydro/Power Plant
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Electrical System
500 kV - 230 kV Substation 230 kV - 115 kV Substation
115 kV - 22 kV Substation
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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.
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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)
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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
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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
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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: 90% in water supply system concession (operated 2017)
11 Financial highlight : Revenue increased 24% Q2’17 o Q2’18 ( 947 MB ⇨ 1,175 MB ) Revenue increased 12% 1H’17 o 1H’18 ( 2,184 MB ⇨ 2,459 MB ) Gross profit margin increased Q2’17 o Q2’18 ( 10.06% ⇨ 11.66% ) Gross profit margin increased 1H’17 o 1H’18 ( 11.00% ⇨ 11.88% ) Gross profit increased 45% Q2’17 o Q2’18 ( 94 MB ⇨ 136 MB ) Gross profit increased 22% 1H’17 o 1H’18 ( 237 MB ⇨ 289 MB ) Net profit increased 118% Q2’17 o Q2’18 ( 22 MB ⇨ 49 MB ) Net profit increased 65% 1H’17 o 1H’18 ( 76 MB ⇨ 126 MB ) Net profit margin increased Q2’17 o Q2’18 ( 2.39% ⇨ 4.20% ) Net profit margin increased 1H’17 o 1H’18 ( 3.48% ⇨ 5.13% )
Revenues by Categories : ฿ million ,% Statement of Comprehensive Income - Revenues Structure
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500 1,000 1,500 2,000 Q2'16 Q2'17 Q2'18
Other Sales Service total
1,175 947 1,703 24%
95% 4% 1% 88% 11% 1% 1% 18% 81%
500 1,000 1,500 2,000 2,500 3,000 3,500 1H'16 1H'17 1H'18
Other Sales Service total
Total revenue of Q2’18 and 1H’18 increased 24% and 12% compared to the same period of Y’17 due to the increasing of service revenue.
2,459 2,184 3,125 12%
95% 4% 1% 81% 18% 1% 1% 21% 78%
100 200 300
Q2'16 Q2'17 Q2'18 Electrical equipments Steel Structure total
Statement of Comprehensive Income - Revenues Structure Revenues from Sale : ฿ million ,%
63 100 209
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107% 75% 25% 9% 91% 56% 44% 58%
Revenues from sale of Q2’18 and 1H’18 increased 107% and 31% compared to the same period of Y’17 due to the growth from both trading Electrical equipments business and steel structure business.
100 200 300 400 500 600
1H'16 1H'17 1H'18
Electrical equipments Steel Structure total
131 389 512 31% 195% 84% 16% 47% 53% 45% 55%
500 1,000 1,500 2,000
Q2'16 Q2'17 Q2'18 Other Electrical work Renewable Total
Revenues from services of Q2’18 and 1H’18 increased 15% and 8% compared to the same period of Y’17. The major increasing is from the Electrical work.
Revenues from Services : ฿ million ,% Statement of Comprehensive Income - Revenues Structure
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1,624 833 960 15%
43%48% 9% 13% 3% 51% 36% 93% 4%
500 1,000 1,500 2,000 2,500 3,000 3,500
1H'16 1H'17 1H'18 Other Electrical work Renewable Total
2,973 1,770 1,922 8%
42% 52% 6% 10% 4% 58%32% 92% 4%
For Q2’18 and 1H’18 , the percentage of works from Government Sector increased due to the increasing in EGAT’S
energy changing from solar farm & wind farm to biomass power plant.
500 1,000 1,500 2,000
Q2'16 Q2'17 Q2'18 Government Private Total
Revenues by Customers : ฿ million ,%
960 833 1,624
Statement of Comprehensive Income - Revenues Structure
15%
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60% 40% 61% 39% 53% 47%
500 1,000 1,500 2,000 2,500 3,000 3,500
1H'16 1H'17 1H'18 Government Private Total
1,922 1,770 2,973 64% 36% 61% 39% 52% 48%
8%
50 100 150 Q2'16 Q2'17 Q2'18 Gross Profit - sales Gross profit - service Total
Gross Profit : ฿ million ,% Statement of Comprehensive Income Earning from operation
Gross profit of Q2’18 and 1H’18 increased 45% and 22% compared to the same period of Y’17 due to the change in service revenue, major portion, from large renewable power plant projects to the construction of substations and transmission line which gained better margin.
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102 136
45% 94 95% 5% 81% 19% 91% 9%
100 200 300
1H'16 1H'17 1H'18
Gross Profit - sales Gross profit - service Total
189 289 25% 22% 237 91% 9% 74% 26% 88% 12%
Statement of Comprehensive Income Earning from operation
11.66% 10.06% 6.05%
0% 5% 10% 15%
Q2'16 Q2'17 Q2'18
Gross profit margin
Average Gross Profit margin : %
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Average gross profit margin of Q2’18 and 1H’18 increased when compared to the same period of Y’17 increased due to the increasing of construction projects that caused higher gross profit margin.
11.88% 11.00% 6.12% 0% 5% 10% 15%
1H'16 1H'17 1H'18
Gross profit margin
49% 44%
583% 51% 56%
10 20 30 40 50
Q2'16 Q2'17 Q2'18
Profit exclude share profit (loss) associates Share profit(loss) associates
Net Profit : ฿ million ,% Statement of Comprehensive Income Earning from operation
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4.61 49.42 22.61
Net profit of Q2’18 and 1H’18 increased when compared to the same period of Y’17 due to the increasing of gross margin and share profit from associate.
52% 15%
34% 48% 85%
100 200
1H'16 1H'17 1H'18
Profit exclude share profit (loss) associates Share profit(loss) associates
126 76
Statement of Comprehensive Income Earning from operation
2.70% 2.39% 4.20% 0% 2% 4% 6% Q2'16 Q2'17 Q2'18 Net profit margin
Net Profit margin : %
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Net margin of Q2’18 and 1H’18 showed profit 4.20% and 5.13% due to the increasing in gross profit margin and share profit from associate.
3.48% 5.13%
0% 2% 4% 6% 1H'16 1H'17 1H'18
Net profit margin
Statement of Financial Position
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3,606 3,941 3,879 4,127 3,176 3,155 2016 2017 2018
Current assets Non-current assets7,733 7,117 7,034 ASSET
KEY RATIO Debt to Equity Interest Bearing Debt to Equity ROE ROA 2016 1.64 2016 0.91 2016
2016
2017 1.33 2017 0.77 2017 2.10 2017 0.89 2018 1.23 2018 0.64 2018 F 7.98 2018 F 3.58
LIABILITIES & EQUITY
2,924 3,057 3,160 342 503 475 4,467 3,557 3,399 2016 2017 2018
Current liabilites Non-Current liabilites Shareholders'equity
7,034 7,117 7,733 53% 47% 45% 55% 45% 55% 58% 38% 50% 43% 48% 45% 4% 7% 7%
Projects Backlog(Separate financial statements)
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REMARK : This report has been prepared follows the regulation of SEC
Project Type Month 1-7 2018 Project value Amount Project value (MTHB) (Project) (MTHB)
Electrical Engineering Work
2,065.39 59 2,730.52
M&E System
73.26 3 226.36
Steel structure work
307.03
2,445.68 62 2,956.88
Renewable Energy
85.19 3 142.63
Subtotal
85.19 3 142.63
Contract being signed
32.00
Grand total
2,530.87 66 3,131.51
BACKLOG PROJECT Ongoing Projects
2036 – Private PPA
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
stage 1.
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Wind turbine foundation remedy budget
Estimated Estimated Estimate Estimated Estimate Estimated Aggregate Estimated total total and cost for total and cost for total actual cost Improvement improvement improvement accounting improvement accounting improvement Ended at cost (For cost cost recorded cost recorded cost remaining Works) year 2015 year 2016 in year 2017 (until 2017) in 1H'18 (until Q2'18) (until Q2'18) At Jun 30,2018 Improvement cost 410.51 197.92 36.92 645.35
520.36 124.99 Re-design cost,advisor cost, insurance,etc 93.72
73.55 20.17 Sub-total cost 504.23 197.92 36.92 739.07
593.91 145.16 Compensation for Loss of production cost* 398.74 297.83 59.75 756.32 16.38 772.70 772.70
902.97 495.75 96.67 1,495.39 16.38 1,511.77 1,366.61 145.16 Deduct owner's compensation (30.00)
(30.00)
872.97 495.75 96.67 1,465.39 16.38 1,481.77 1,336.61 145.16 Description
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