Company Presentation Analyst Meeting TTW Public Company

Pathumthani Water Treatment Plant

Company Presentation

TTW Public Company Limited

Q4’2020 / Year-end 2020

Analyst Meeting

1/2021

24 February 2021

To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

Disclaimer

This presentation includes some forward-looking statements relevant to future

events such as plans, business strategies, expectations, etc. Thus, actual

situations may differ from what is projected in this presentation due to the

unexpected environment which might be better or worse than anticipated.

Investors or material users should be meticulous on any herein information.

This presentation, which is prepared by the company, is only used for

investment information. Also, the information included in this forward-looking

statement may be changed by TTW Public Company Limited without notice

and then the company does not take any duty to update any relevant

information.

2

Agenda

COVID-19 Situation

3

Company Overview

Water Situation


Operating and Financial Performance

Highlight

Pathumthani Water Treatment Plant

4To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

Com

pany Company/Issue

Rating

CGR

2020

ESG100

2020

AGM

Checklist

THSI

2020

SET THSI

Index

SET50

Index

SET100

Index

SETHD

Index

Sustainability

Disclosure Award

Certificate of SDG

Impact Company:

Gold Class

By

AA- /

Stable

99

scored(Excellent)

TTW’s Achievement 2020

Highlight

Reduce financial cost due to

redemption of debentures,

repayment of long-term loans

and refinancing of long-term loans.

The financial cost has decreased by

(Q4’2020 vs Q4’2019)

11.1MB.or

14.5 %(2020 vs 2019)

30 MB.or

9.9 %

Description 31 Dec 2020 31 Dec 2019

Changes

+ / (-) %

Loans 2,860.0 3,360.0 (500) (14.9)

Debentures 5,400.0 5,900.0 (500) (8.5)

Financial Cost 274.5 304.5 (30.0) (9.9)

(For calculating the index during 1 Jan - 30 Jun 2021)

SET has removed TTW

from SET50 Index

and transferred it to

respective reserve lists,

effective Feb 17, 2021

SET has added the newly listed "OR" in the calculation

of the SET50 Index and the SET100 Index. (Fast Track)

Unit: MB

Net D/E 0.42 0.46

D/E 0.67 0.76

2020 2019

Ratio

(x)

Historical Dividend Payment & Payout Ratio

5

Dividend Yield 4.88%

(@12.30 baht per share / as of Sep 14,

2018)

Dividend policy: Dividend payment is not less than 50% of

its net profit after deduction of corporate income tax,

statutory reserve, and other reserves required by terms of

relevant agreements.

Year

Particular 2020 2019 2018 2017 2016

Net profit

- Amount (MB) 2,850 2,855 2,667 2,699 2,391

- EPS (Bt./share) 0.71 0.72 0.67 0.68 0.60

DPS (Bt./share)

- Dividend #1 (Interim) 0.30 0.30 0.30 0.30 0.30

- Dividend #2 (Year End) 0.30 0.30 0.30 0.30 0.30

Total DPS 0.60 0.60 0.60 0.60 0.60

Dividend amount (MB) 2,394 2,394 2,394 2,394 2,394

Dividend / Net profit 84.0% 83.9% 89.8% 88.7% 100.0%


Unit: (Bt./share)

0.60

0.68 0.670.72

0.71

0.00

0.10

0.20

0.30

0.40

0.50

0.60

0.70

0.80

2016 2017 2018 2019 2020

EPS DPSDPS

0.60 0.60 0.60 0.60 0.60

Excluding Dividend (XD) : 8 Mar 2021

Record Date (RD) : 9 Mar 2021

Payment Date : 30 Apr 2021

Dividend Payment

Highlight

0.30

0.30

Agenda

COVID-19 Situation

6

Company Overview

Water Situation



Highlight

Agenda

COVID-19 Situation

9

Company Overview

Water Situation



Highlight

Banglen Water Treatment Plant

Water Situation


La Niña will continue until March 2021 and it has a 55% transition probability into a normal state during April - June 2021. (TMD)

Focus on storing water in the area as much as possible, to enough for consumption, and reduce the impacts that may arise from the

water shortage problem during the 2021 drought season. (RID)

In the Chao Phraya and Mae Klong river basins there will be a limited amount of usable

water and Just support for consumption and preserve the ecosystem primarily. (RID)

Four main dams of the Chao Phraya river basin have 42% of total capacity

and 21% of usable water capacity. (RID)

*Remark: As of 19 Feb 2021

TMD = Thai Meteorological Department

RID = Royal Irrigation Department

Bhumibol Sirikit

Kwai Noi Bamrung Dan Pa Sak Jolasid

41 4219 21

0

20

40

60

80

100

19-Feb-20 19-Feb-21 19-Feb-20 19-Feb-21

The situation of 4 main dams

of the Chao Phraya river basin

Water Contents

(10,091 mil.m3)

%%

(3,395 mil.m3)

%

The Chao Phraya River and Tha Chin River still have

sufficient raw water for our production process.%

(10,522 mil.m3)

(3,826 mil.m3)

Total Capacity Usable Water Capacity

Feb’2021 Mar’2021 Apr’2021

La Niña

55% probability into a normal state

May’2021 Jun’2021

What is La Niña?

La Niña is defined as cooler than normal sea-surface temperatures that impact weather patterns.

- Colder temperatures (-0.5 Celsius or lower than average)

- Stronger wind from the east

- More clouds over (Therefore, more rain)

Water Situation


The Saltwater Intrusion Problem

The salty water situation is a seasonal factor.

The salty water boosts the highest in 10 years

The chloride in the river will high during the high tide of

each day and takes about 2 - 4 hours, and then the level

will get back to normal.

We will face the highest tides six times during Feb - Apr 2021

An emergency plan during the raw water having a

chloride level over 250 mg./L, we will lower our production

and speed up the process during low tide to compensate

with lower production during high tide. Thus the amount of

chloride in water from our plant will not exceed the stated

WHO’s Standard.

Fact:

TTW’s Solution:

The Royal Irrigation Department’s Solution:

(Chao Phraya River, Tha Chin River, Mae Klong River, and Bang Pakong River)

Drain the water to dilute the salinity.

To install real-time salinity meters in the Tha Chin River.

Ready to manage water, to correct, and alleviate the

problem of salinity not exceeding the tap water standard.

Ordered to monitor water quality For consumption –

consumption around the Chao Phraya River by the hour.

Water Hammer Operation.

The high tide takes about 2-4 hrs.

A chloride over 250 mg./L

A Sodium over 200 mg./L

Lower Production

Speed up

The low tide The low tide

Normalor

Speed up

Normalor

Agenda

COVID-19 Situation

12

Company Overview

Water Situation



Highlight

-

500

1,000

1,500

2,000

2,500

3,000

3,500

-0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

TTW’s Net Profit vs Price

Price

Company Overview – Key Milestone

13

Sep’00 :

Company established & Entered into WPSA(*)

with PWA

Jan’04 :

First Day of Sale (Design Cap. = 320K / Day)

Feb’06 :

Acquired Water Flow Co., Ltd.

Jul’04 :

Official COD

Jul’06 :

Converted to Plc.

Feb’07 :

Acquired 98% PTW Shares)

As of Dec 31, 2020

(IPO)

Unit: MB

Net Profit


Year 2008 (IPO) 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Net Profit (MB) - 1,593.6 2,062.9 2,113.0 2,421.6 2,544.8 2,973.9 2,697.0 2,492.0 2,663.2 2,841.9 3,127.9 2,951.5

Price (Baht) 4.20 4.46 6.35 5.05 9.20 10.00 11.60 10.60 10.70 12.60 12.40 13.80 12.40

May’08 : Listed in SET

Unit: Baht

Aug’ 09 : Acquired BIE Rights

Dec’08 : Second WPSA with PWA

Sep’10 : First Expansion Completed

(Design Cap. = 320K / Day 440K / Day)

Sep’11 : Acquired 30% CKP Shares

Mar’14 : Changed the

Company’s Name to “TTW”

May’15 : Increased CKP Shares &

oversubscribed to 25.31% CKP Shares

Jun’17 : The Construction of 2nd

Water

Treatment Plant has been Completed

(Design Cap. = 440K / Day 540K / Day)

Sep’19 : Percentage

in CKP Shares 24.98%

COVID-19 Outbreak

(Pandemic)

* WPSA = Water Purchase and Sale Agreement

Operates

Waste water

Tap water and

Investment in

Other business

Produces and

Distributes

Tap water


Company Overview – Our Business

14

Company Overview – Shareholder Structure

Pathum Thani Water Company Limited

Produces and distributes tap water

1,200 MB. Registered Capital

* 2% is owned by PWA

CK Power Public Company Limited

Power Holding company


8,129 MB. Paid-up capital

Thai Water Operations Company Limited

Operates tap water and waste water

treatment systems 60 MB. Registered Capital

MITSUI, 25.98% BEM, 18.47%CK, 19.40% Free Floated, 36.15%

PTW

98%*TWO

68%32%

15As of Dec 31, 2020

CKP

24.98%


Produces and distributes tap water


Company Overview – Current Project

16

Company TTW PTW TTW

Business Service Tap water Supply Tap water Supply Tap Water & Waste Water Management

Contract Type BOO BOOT Rights (Operating Lease)

Contract Period 2004 – 2034 (30 yrs.) 1998 – 2023 (25 yrs.) 2009 – 2039 (30 yrs.)

Contract Customer Whole sale to PWA Whole sale to PWA BIE

Investment Scheme Production, Transmission and Distribution Production and Transmission N/A

Distribution Area West Bangkok (Nakhon Pathom – Samut Sakhon) North Bangkok (Pathum Thani – Rangsit) BIE (Bang Pa-In Industial Estate, Ayutthaya)

Design Capacity *540,000 m3/day 488,000 m

3/day TW: 48,000 m

3/day, WW: 18,000 m

3/day

Pathum Thani Water Treatment Plant Bangpa-in Industrial EstateBanglen Water Treatment Plant

TTW

PTW

BIE

1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040

*Design Cap. 440,000 m3/Day

Krathumban Water Treatment Plant


*Starting at 100,000 m3/Day (Backup Plant)

* TW = Tap Water Treatment

** WW = Waste Water Treatment

(*) (**)

Company Overview - Location

17

Pathum Thani Water

Treatment Plant

(PTW, Pathum Thani)

Bangpa-in

Industrial Estate

(BIE, Ayutthaya)

Banglen Water Treatment

Plant (TTW, Nakhon Pathom)

Krathumban

Water Treatment Plant

(TTW, Samut Sakhon)

Amata City Industrial Estate

(Chonburi, Rayong)

3 Companies

5 Locations in Water Business

1 Company in Energy Business


Bangkok

Phra Nakhon

Sri Ayutthaya

(BIE)

Pathum Thani

(PTW)

Nakhon Pathom

(TTW-Banglen)

Samut Sakhon

(TTW-Krathumban)

308,001311,343 314,811

318,009

30,010 29,829 29,829 29,981

8,041 8,169 8,247 8,361

Q1'2020 Q2'2020 Q3'2020 Q4'2020

Household Commercial Industry

Company Overview – Portion of Water Users

18

Serving over 550,000 Users

or Millions of Lives

*Top Users: As of Dec 2020To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

• Klongluang Utilities

• Thainamthip Manufacturing

• Thai Aquafresh

• Greensport

• Hoya Lens Thailand

• etc.

• Thammasat University (Rangsit)

• Rangsit University

• Future Park Rangsit

• Asian Institute of Technology

• Summit Pinehurst golf club & Hotel

• etc.

• Summit Starhome

• Pruksa Real Estate

• Pinehurst Willz

• Lumpini Township (L .P.N.)

etc.

66 64 63

15 16 17

19 20 20

0%

20%

40%

60%

80%

100%

Q2'2020 Q3'2020 Q4'2020


Pathum Thani - Rangsit (%)

(North BKK)

• Thai Union Group

• Samut Sakhon Industrial Estate

• Pataya Food Industries

• Unicord

• Pakfood

• etc.

• Nadee Municipality (Waterworks)

• Mahidol University (Salaya)

• Banphaeo General Hospital

• Samutsakhon Hospital

• RMUTR

• etc.

46 45 45

15 16 15

39 39 40

0%

20%

40%

60%

80%

100%

Q2'2020 Q3'2020 Q4'2020


Samut Sakhon – Nakhon Pathom (%)

(West BKK)

• Charoensin Thani

• Pruksa Real Estate

etc.

The Connections (Users)

166,087168,489 171,173 172,797

20,100 19,912 19,658 20,051

10,318 10,305 10,271 10,377

Q1'2020 Q2'2020 Q3'2020 Q4'2020


172,797 20,051 10,377 318,009 29,981 8,361

Total 203,225 connections Total 351,719 connections

440,000

100,000

488,000

400,310

43,200 30,000 28,000 30,000 28,000

0

100,000

200,000

300,000

400,000

500,000

600,000

TTWTTW 2nd PlantPTW UU BW CW ET IWR REQ

Capacity of Private Tap Water Companies

Company Overview – The Leading Position of Water Business in Thailand

Unit: m3/day

1,076,000 m3/day UU Universal Utilities Group (Subsidiary of East Water Group)

BW Bangpakong Water Supply

CW Chachoengsao Water Supply

ET EGCOM TARA

NW Nakornsawan Water Supply

IWR Industrial Water Resource Management

REQ R.E.Q Water Service

Source : PWA, 1H’2020 Company Presentation of East Water, www.uu.co.th

400,000

19

IWR REQ

+100,000

+100,000

+100,000

Starting at 100,000 m3/Day

BIE

48,000

Plant

The Krathumban Water Treatment Plant (TTW 2nd)

can be expanded the design capacity up to

400,000 m3/day

Hybrid Technology: Conventional +

Ultrafiltration (Membrane Technology)

Cleaner: Because the membrane pore size is

only 0.01 micron so it can effectively

contaminants viruses and bacteria

Safer: Less chemical usage


TTW TTW 2nd

BW

CW

ET

NW

Others

East Water & UU

Group

403,910

PTW

30,000 28,000

At present In the future Peers


Company Overview – Tap Water Production Process

20

Tha Chin River

(Nakhon Pathom Province)

Chao Phraya River

(Pathum Thani Province)

End Users

(Household + Industry + Commercial)

Raw Water Intake

Rapid Mixing

Tank

Clarifier

TankFilter

Sludge Dewatering

Treated WaterWater Distribution

Land fill

Chemical Dosing

Whole Sale

Provincial Waterworks

Authority (PWA)

Banglen

Pathum Thani

Rai Khing

The water from sludge dewatering will be

re-claim into the processed again.

“Zero Discharge”


Some of the sludge was

developed for many purposes.

e.g., as part of the school

building material.

“TTW Building” at Wat Rat Thammaram School,

Samutsakhon Province

100%

100%

30%

61.3%

75%

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Company Overview - Investment in Other Business

21

• Southeast Asia Energy Co., Ltd. (SEAN)

• Bangkhenchai Co., Ltd. (BKC)

• BKC Solar Rooftop and Solar Farm Projects

• Chiangrai Solar Co., Ltd. (CRS)

• Nakhon Ratchasima Solar Co., Ltd. (NRS)

24.98%

1,900 MW 238 MW 29 MW

• Nam Ngum 2 Power Company (NN2)

• Xayaburi Power Co., Ltd. (XPCL)

37.5%

615 MW

1,285 MW

• Bang Pa-In Co-Generation Co., Ltd. (65%)

- Phase 1 (BIC 1)

- Phase 2 (BIC 2)

118 MW

120 MW

7 MW

8 MW

Source : www.ckpower.co.th

As of Dec 2020To be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses

30%

8 MW

6 MW

Agenda

COVID-19 Situation

22

Company Overview

Water Situation



Highlight

Operating & Financial Performance – Portion of Revenue

23

60

30

5

5

TTW Group (%)

TTW

PTW

BIE

Others


*Approximately

Operating & Financial Performance

TTW Sales Volume

33.3

38.140.5 41.6 41.6

0

10

20

30

40

50

Q4'2016 Q4'2017 Q4'2018 Q4'2019 Q4'2020

mil.m3

YearYear

138.4145.9

158.3166.1 165.9

0

40

80

120

160

200

2016 2017 2018 2019 2020

mil.m3

2020 vs 2019

-0.2%

Q4’ Daily Average (Thousand m3)

Year 2016 2017 2018 2019 2020

Daily Avg. 358 409 440 452 452

Full Year Daily Average (Thousand m3)

Year 2016 2017 2018 2019 2020

Daily Avg. 377 395 434 455 453

Location TTW

Change

Period Q4’2020 Q4’2019

Utilization (%) 84 84 -


Q4’2020 vs Q4’2019

+0.01%


PTW Sales Volume

Location PTW

Change

Period Q4’2020 Q4’2019

Utilization (%) 84 84 -

25


Year 2016 2017 2018 2019 2020

Daily Avg. 358 369 400 408 418


Year 2016 2017 2018 2019 2020

Daily Avg. 347 378 400 408 412


Year

131.4 135.8145.9 148.9 153.1

0

40

80

120

160

200

2016 2017 2018 2019 2020

mil.m3

2020 vs 2019

+2.8%

Year

32.3 35.2

36.8 37.6 37.9

0

10

20

30

40

Q4'2016 Q4'2017 Q4'2018 Q4'2019 Q4'2020

mil.m3 Q4’2020 vs Q4’2019

+0.9%


BIE Sales Volume

26

Location BIE

Change

Period Q4’2020 Q4’2019

Utilization (%) 45 52 -7


Year 2016 2017 2018 2019 2020

Daily Avg. 20.9 22.7 23.3 24.2 22.3


Year 2016 2017 2018 2019 2020

Daily Avg. 21.9 23.6 24.0 24.6 21.6


Year

7.678.27 8.51

8.84

8.15

0

2

4

6

8

10

2016 2017 2018 2019 2020

mil.m3

2020 vs 2019

-7.8%

Year

1.99 2.14 2.19 2.24

1.97

0.00

0.50

1.00

1.50

2.00

2.50

Q4'2016 Q4'2017 Q4'2018 Q4'2019 Q4'2020

mil.m3 Q4’2020 vs Q4’2019

-12.0%


How much room to grow?

27

2020 Daily Average

TTW: 453.2K /Day

PTW: 418.4K /Day

BIE: 22.2K /Day

Unit: m3

Total Design Capacity

1,076K /Day

(At Present)

182.2K /Day

300K /Day In the future, the Krathumban Water

Treatment Plant (TTW 2nd) can be expanded

the design capacity by 300K /Day


893.8K

/Day

Unit: 1,000 m3

2016 2017 2018 2019 2020

BIE 20.9 22.7 23.3 24.2 22.2

PTW 359.0 372.1 399.8 408.0 418.4

TTW 378.2 399.7 433.6 455.1 453.2

378.2 399.7433.6 455.1 453.2

359.0372.1

399.8408.0 418.4

20.922.7

23.324.2 22.2

0

100

200

300

400

500

600

700

800

900

1,000

758.1Total

758.1

794.5 856.7 887.3

794.5

856.7887.3 893.8

Daily Average by yearly

+0.7%

893.8

Operating & Financial Performance - Investment in Other Business


Profit-sharing from investment in associate company (CK Power)

Q4’2019 Q4’2020Change

Amount %

215.3 1.9 (213.4) (99.1)

Source: www.ckpower.co.th

2019 2020Change

Amount %

280.2 101.1 (179.1) (63.9)

215.3

1.9

280.2

101.1

0

50

100

150

200

250

300

Q4'2019 Q4'2020 2019 2020

Unit : MB

* The commercial operation date (COD) of XPCL was on 29 October 2019

* XPCL’s electricity production reached 100% of capacity for the first time on 9 August 2020


Consolidated - Financial Performance

29

2020 vs 2019 Q4’2020 vs Same period last year

The increase in sales volume of TTW and PTW, adjustment of selling price by CPI of TTW and PTW

Profit-sharing from investment in associated company increased

The decrease in finance cost by the redemption of debentures of 1,500 MB, loan repayment 435 MB and issue debentures of

1,000 MB

5,499.1 5,747.4

5,948.5 6,151.4 6,192.9

2,475.6 2,663.2

2,841.9 3,128.0

2,951.5

4,429.4 4,699.9

4,901.5

5,269.8 4,997.1

2016 2017 2018 2019 2020

Total Revenue Net Profit EBITDA

Unit : MB

+0.7%

-5.6%

-5.2%


1,438.2 1,483.5 1,500.5 1,545.2 1,545.2

568.4 678.1 674.2

934.4

689.8

1,034.8

1,194.5 1,199.5

1,446.8

1,200.9

Q4'2016 Q4'2017 Q4'2018 Q4'2019 Q4'2020

Total Revenue Net Profit EBITDA

Unit : MB

-26.2%

-17.0%

As of Dec 31, 2020


Financial Ratios

30

As of Dec 31, 2020

23.6

21.622.6 23.1 23.4

22.2

10.1 9.7

11.512.3

13.6 12.9

2015 2016 2017 2018 2019 2020

ROE ROA

1.331.23

0.960.89

0.760.670.67

0.770.67

0.530.47 0.42

2015 2016 2017 2018 2019 2020

D/E Net D/E



31

Consolidated Cash Flow


Consolidated cash flow

Year Change

2020 2019 Amount %

Net cash flow from the operating activities 4,083.6 3,977.0 106.6 2.7

Net cash flow used in the investing activities (641.0) (646.3) 5.3 0.8

Net cash flow used in the financing activities (3,427.2) (3,353.4) (73.8) (2.2)

Net increase (decrease) of cash and cash equivalent 15.4 (22.7) 38.1 167.8

Cash and cash equivalent – beginning of the period 76.6 99.3 (22.7) (22.9)

Cash and cash equivalent – ending of the period 92.0 76.6 15.4 20.1

(Unit: MB.)

Total assets decreases by 315.7 MB or 1.4% due

to the redemption of debenture in February

2020 and depreciation and amortization of

the projects.

Total liabilities decreases by 890.5 MB or 8.9%,

mainly due to debentures redemption of 500 MB

and loan repayment of 500 MB.

Total shareholders’ equity increases by 574.8 MB

or 4.4% due to the net profit from operations and

dividend payment.


32

Consolidated Financial Position


(Unit : MB)

13,124.8 13,699.6

10,003.3 9,142.8

23,158.1 22,842.4

0

10,000

20,000

30,000

40,000

50,000

31-Dec-19 31-Dec-20

Total shareholders' equity Total liabilities Total assets

-1.4%

-8.9%

+4.4%

Appendices

Appendix 1-4 : TTW profit and loss statement

: Consolidated profit and loss statement

Appendix 5-7 : Water Dispatch

Appendix 8 : Credit Rating

Appendix 9 : Quality Water for a Better Life

Appendix 1 – TTW profit and loss statement – Q4’2020 & 2020

34

(Unit: MB)

TTW profit and loss statementQuarter 4 Change Year Change

2020 2019 Amount % 2020 2019 Amount %

Sale volume – PWA (mil.m3) 41.6 41.6 - - 165.9 166.1 (0.2) (0.1)

Total revenue 1,040.3 1,050.0 (9.7) (0.9) 4,156.5 4,186.1 (29.6) (0.7)

- Sales and services 1,034.5 1,040.0 (5.5) (0.5) 4,130.2 4,139.7 (9.5) (0.2)

- Other income 5.8 10.0 (4.2) (42.0) 26.3 46.4 (20.1) (43.3)

less Depreciation and amortization 134.7 134.1 0.6 0.4 532.3 533.6 (1.3) (0.2)

less Cost of sales and services 163.9 147.0 16.9 11.5 579.6 547.7 31.9 5.8

less Administrative expenses 123.5 107.6 15.9 14.8 446.8 429.3 17.5 4.1

Earnings from operation 618.2 661.3 (43.1) (6.5) 2,597.8 2,675.5 (77.7) (2.9)

EBITDA 811.3 855.5 (44.2) (5.2) 4,416.6 4,453.4 (36.8) (0.8)

plus Finance income 2.5 4.3 (1.8) (41.9) 11.5 22.0 (10.5) (47.7)

less Finance cost 65.2 76.4 (11.2) (14.7) 274.4 304.5 (30.1) (9.9)

less Income tax expenses 120.1 110.8 9.3 8.4 509.0 522.7 (13.7) (2.6)

Net profit (excluding dividends) 435.4 478.4 (43.0) (9.0) 1,825.9 1,870.3 (44.4) (2.4)

plus Dividend income - - - - 1,024.4 984.6 39.8 4.0

Net profit for the period 435.4 478.4 (43.0) (9.0) 2,850.3 2,854.9 (4.6) (0.2)

Gross profit margin 71.1% 73.0% 73.1% 73.9%

EBITDA margin 77.8% 81.1% 85.1% 85.8%

Net profit margin 41.8% 45.4% 54.9% 55.0%

Appendix 2 – Consolidated profit and loss statement – Q4’2020 & 2020

35

(Unit: MB)

Consol. profit and loss statementQuarter 4 Change Year Change

2020 2019 Amount % 2020 2019 Amount %

Sale volume – PWA (mil.m3) 79.5 79.2 0.3 0.4 319.0 315.1 3.9 1.2

Total revenue 1,545.2 1,545.2 - - 6,192.9 6,151.4 41.5 0.7

- Sales and services 1,542.3 1,537.1 5.2 0.3 6,179.6 6,112.9 66.7 1.1

- Other income 2.9 8.1 (5.2) (64.2) 13.3 38.5 (25.2) (65.5)

less Depreciation and amortization 230.4 227.9 2.5 1.1 936.5 906.4 30.1 3.3

less Cost of sales and services 269.9 253.8 16.1 6.3 976.6 944.1 32.5 3.4

less Administrative expenses 125.7 112.7 13.0 11.5 459.4 446.5 12.9 2.9

associated company

Earnings from operation 919.2 950.8 (31.6) (3.3) 3,820.4 3,854.4 (34.0) (0.9)

EBITDA 1,200.9 1,446.8 (245.9) (17.0) 4,997.1 5,269.8 (272.7) (5.2)

plus Finance income 2.1 3.7 (1.6) (43.2) 10.2 14.2 (4.0) (28.2)

less Finance cost 65.3 76.4 (11.1) (14.5) 274.5 304.5 (30.0) (9.9)

less Income tax expenses 163.1 154.2 8.9 5.8 685.4 697.0 (11.6) (1.7)

less Minorities interest 5.0 4.8 0.2 4.2 20.3 19.4 0.9 4.6

Net profit before share of profit from 687.9 719.1 (31.2) (4.3) 2,850.4 2,847.7 2.7 0.1

investment in associate company

plus Profit sharing from investment in 1.9 215.3 (213.4) (99.1) 101.1 280.2 (179.1) (63.9)

associated company

Net profit for the period of TTW 689.8 934.4 (244.6) (26.2) 2,951.5 3,127.9 (176.4) (5.6)

Gross profit margin 67.6% 68.7% 69.0% 69.7%

EBITDA margin 77.6% 93.4% 80.6% 85.5%

Net profit margin 44.6% 60.3% 47.6% 50.7%

Appendix 5 – Water Dicpatch: TTW (December 2019 – December 2020)


Appendix 6 – Water Dicpatch: PTW (Nov 2018 – Oct 2019 vs Nov 2019 – Oct 2020)


Appendix 7 – Water Dicpatch: BIE (October 2019 – October 2020)


AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable

AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable AA-/Stable

Appendix 8 – Credit Rating


Year : 2020

Date : 30 Nov

Type of Credit : Company Rating / Issue Rating

Rating Agency : Tris Rating

Credit Rating : AA-

Rating Outlook : Stable

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Company Rating

Issue Rating

40

TTW regards the importance of the good quality of tap water and

services that we provide to PWA and tap water consumers. Apart from

close control on the quality of water at all steps of production

At the same time, TTW also provided advice to the water users who

requested us to examine the quality of downstream water free of charge.

This is because we believe that “Quality Water for a Better Life”

TTW also provided cooperation to PWA in the examination of water

samples, collected from water users in each service areas in TLAA

laboratories to ensure that the quality of tap water, distributed to

downstream users is consistent with that of the water produced by TTW.

Appendix 9 – Quality Water for a Better Life

41

บริษัท ทีทีดับบลิว จ ำกัด (มหำชน)


Investor Relations Department

30/130 Moo 12, Buddha Monthon 5 Rd,

Rai Khing, Sam Pran, Nakhon Pathom,

Thailand 73210

Tel : +66 2019 9490 – 3 Ext. 1100, 1108

Fax : +66 2420 6064

Web Site : www.ttwplc.com

E-mail : [email protected]

Website : www.ttwplc.com

Facebook : TTW Plc

Instagram : TTW Plc

LinkedIn : TTW Public Company Limited


Documents

Company Presentation Analyst Meeting TTW Public Company