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transcript
JMART Group Business Update
Q3/2018
2
Disclaimers
Jaymart Public Company Limited
The information contained herein is intended to represent the Company’s operating and financial position at a given point in time and may also contain forward looking information which only reflects expectations based on the prevailing geo-political, economic and non-controllable factors. Such information has been obtained from sources believed to be most reliable and the means in analyzing and preparation of such information for disclosure are based on approve practices and principles in the investment industry. The views are based on assumption subject to various risks and uncertainties and no assurance is made as to whether such future events will occur. No assurance is made as to the accuracy or completeness of information presented in this document.
3 Jaymart Public Company Limited
Jaymart Group Group of Companies
3
Debt Collection and Management
55.8%
Personal Loan Property Development
67.5%
Home and Commercial Appliance
24.9% Listed Listed Listed
Listed
95.6% 99.9%
Mobile Business
80.0%
Fintech & Start-up
99.9% 99.9%
9.77% 0.31%
60.0% 55.0%
18.92%
4 Jaymart Public Company Limited 4
Jaymart Group Business at a glance
Mobile Business (Retail and Wholesale)
Debt Collection and Debt Management
Property Development
Insurance – Non-Life
Home and Commercial Appliances
Fintech and Start-Up
Our Clients
Personal Loan
5
Jaymart Group Growth Milestone
1st Wave (20 years)
2nd Wave (10 years)
3rd Wave (5 years)
1. Build Foundation Facilities
2. Ecosystem for Synergy
3. Digital Transformation and Fintech
5 Jaymart Public Company Limited 5
6 6 6 Jaymart Public Company Limited 6
Jaymart Group Synergy Business
7 Jaymart Public Company Limited 7
Jaymart Group Q3/2018 Consolidated Group Revenues
2,609 2,488
2,706
3,401 3,117 3,209 3,224
3,686
3,234 3,263 2,995
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18
8 Jaymart Public Company Limited 8
Jaymart Group Q3/2018 Consolidated Group Net Profit
89 102 109
139 115
148 131
96
-187
44.5
2.6
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18
9 Jaymart Public Company Limited 9
Jaymart Group 2009 – 9M/2018 Net Profit Milestone
75 104
145
252
364
233
323
427
490
-140
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
10 Jaymart Public Company Limited 10
Jaymart Group Forward Looking – Confidence
27.6 21.0 19.0
5.2
16.9
29.1 32.8 37.4 38.0
14.6 25.3 21.9
-32.6
7.9
38.6
146.6
73.3
124.8
98.8 99.3
116.1 119.9
138.2
55.81%
JMT Net Profit Trend 2013 – Q3/2018
11 Jaymart Public Company Limited 11
Jaymart Group Business Update
Jaymart Group Exclusive Partnership with AIS
12
13
J Fintech Business Plan and Operation Improvement
1. Recruit Quality Customer 2.Collection Improvement 3. Business Added
Ticket Size increase to
68K
(as of Sep-18)
Collection Ration improve ( Normal +Xday)
96.16% (as of Sep-18)
Actions
Results Factoring Business
“Lower Doubtful Debt Provision and NPL Ratio” “Revenues Diversify”
14
J Fintech Business Improvement: Average Loan Size Increase
Average TCL No. of Active Contract
Unit: Baht
19,848 18,207 18,380 22,513
31,969 30,423 30,441 33,722
35,841
44,498
60,327
68,535
32,401
48,948
72,435
96,141
111,962 122,141
136,049 145,216
150,294
170,031
165,701
Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18
15
J Fintech Business Scale up: Portfolio Size and Loan Portfolio Type
Loan Portfolio Type Loan Portfolio Size (OS)
Unit: MB Unit: MB
2,209
3,258
4,095
2016 2017 3Q18
Revolving Loan, 3,778,
92%
Term Loan, 249, 6%
Factoring, 68 , 2%
As of Q3/2018
16
J Fintech Business Improvement: Performance Improved
Interest Incomes from Loan Contract
Unit: MB
Interest Incomes increase due to
portfolio expansion
26 40
72
100 110 114
140 154
189
215
242
1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18
Collection Ratio (Normal + Xday) Maintain
17
J Fintech Business Improvement: Business Update
Collection Promotion Synergy with Jaymart Group Loan Qualifications
Jaymart Public Company Limited 18
Mobile and Camera Business
Jaymart Public Company Limited 19
Mobile Business 9M/2018 Mobile Update
Mobile Unit Sold in 9M/2018 Mobile Value Sold in 9M/2018
Unit: Million Unit: ‘000
1,195 1,132
1,217
898 823
2015 2016 2017 9M/2017 9M/2018
8,074 8,637
9,469
6,786 6,465
2015 2016 2017 9M/2017 9M/2018
Jaymart Public Company Limited 20
Mobile and Camera Business Q3/2018 Revenues Breakdown
By Products: Mobile, Camera and Accessories By Distribution: Type: Retail VS Wholesale
Mobile 93%
Other 1%
Accessories 3% Camera
3%
24%
76%
Wholesale
Retial
Jaymart Public Company Limited 21
Mobile and Camera Business Shop Type Q3/2018
Jaymart 151
Smartphone 12
Jaycamera 11
Brand Shop 26
AIS 8
GP (Singer / The Mall) 192
Total 400
Smartphone
Shops Breakdown Jaymart Brand Shop
AIS Shop
Jaycamera
38%
3% 3%
6% 2%
48%
Jaymart Public Company Limited 22
Mobile Business Brand Portfolio Mixed
48%
12%
35%
5%
Samsung
iPhone
Chinease Brand
Other
9M/2017 9M/2018
46%
13%
35%
6%
Jaymart Public Company Limited 23
Mobile Business Q3/2018 Gross Margin and ASP
Gross Margin Average Selling Price
Unit: Bath
17.2% 17.1% 15.4%
16.1% 15.0%
15.9%
13.60%
Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18
7,162
7,984 7,572
8,405 8,199 8,016
7,338
Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18
Jaymart Public Company Limited 24
Mobile Business Best in Class – Exclusive Partner
Boost up subscriber at Jaymart Shop and group of companies
Add Package
25
Debt Collection and Management
JMT Network Services Public Company Limited
Debt Tracking and Debt Collection and Non performing Debt Management
26
Debt Collection and Management Business at a glance
Debt Collection Business Debt Acquisition Business Insurance Business
Business and Clients
Market Positions
Strength
• No.1 in debt tracking and collection services
• No.1 in unsecured non-performing debt management
• Start to acquire Secure Distress Debt
• Proven tracking record and experienced more than 20 years
• Data base system over 3 million account all nationwide
• Well training staff • IT and data base system • Award Winning for Debt
Collection Services
• Connect through synergy channel of Jaymart Group of Companies
• InsurTech / Synergy
JMT Network Services Public Company Limited
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Debt Collection and Management 9M/2018 Revenues Breakdown
9M/2018 Revenues Composition 9M/2017 Revenues Composition
“Debt Acquisition Revenues contributed 80% of total revenues”
JMT Network Services Public Company Limited
18%
82%
15%
80%
5%
Debt collection
Debt Acquisition
Insurance
28
Debt Collection and Management 9M/2018 Revenues Growth 33% yoy.
Unit: MB
JMT Network Services Public Company Limited
“Total revenues increase 33% yoy in line with target”
177
821
-
1,002
202
1,061
70
1,334
14%
29%
100%
33%
Debt collection Debt Acquisition Insurance Total
9M/2017 9M/2018 %Growth
29
Debt Tracking and Collection Services Q3/2018 Outsource Debt Tracking Performance
JMT Network Services Public Company Limited
13,707 13,950
15,954
25,367
18,291
22,353 22,669
20,674
2.9% 3.6% 4.8% 4.8%
7.7% 8.3% 7.9% 8.4%
22.6%
15.8%
10.3%
6.9%
15.8%
10.3% 10.7%
10.5%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
0
5,000
10,000
15,000
20,000
25,000
30,000
Y2012 Y2013 Y2014 Y2015 Y2016 Y2017 9M-2017 9M-2018
OS % Success rate % Commission rate
Vehicle hire purchase
31%
Credit card 13%
Personal loan 35%
Home loan 13%
Other 8%
Type of Debt as of 30 Sep 2018
30
Unit: MB
Non-performing Debt Management Debt Acquisition Milestones
JMT Network Services Public Company Limited
8,474 9,663
31,544 25,460
19,600 16,271 9,327
1,031 1,197 2,238 3,983 6,429
13,543
22,017
31,679
63,933
88,683
108,283
124,554
133,881
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q3/2018
Portfolio OS Balance Accumulated OS Balance
Debt Acquisition Portfolio by Type of Loan
31
Unit: MB
Debt Collection and Management 9M/2018 Debt Acquisition
JMT Network Services Public Company Limited
6,429 13,542
22,017 31,679
63,223
88,683
108,283
124,554
133,881
2010 2011 2012 2013 2014 2015 2016 2017 Q3/2018
Secure Loan
Hire Purchase
Personal Loan
Total
32
Non-performing Debt Management Q3/2018 Portfolio and Investment
Q3/2018 Type of OS Debt Purchase Total Portfolio OS Type Breakdown as of Q3/2018
JMT Network Services Public Company Limited
73,003 57,310
3,290 30%
12% 56%
2%
Car Motorcycle PL SL
33
Collected as % of Investment
469% 243% 384% 482% 255% 263% 193%
Investment(MB) 39 16 49 74 122 384 399
Non-performing Debt Management Portfolio and Investment
JMT Network Services Public Company Limited
1,031 166
1,041 1,745
2,446
7,114
8,474
2006 2007 2008 2009 2010 2011 2012
OS Balance
Collection
Investment
34
Collected as % of Investment
124% 108% 79% 88% 49% 6% 90%
Investment (MB) 439 1,613 1,319 906 1,598 1,359 8,800
Non-performing Debt Management Portfolio and Investment
JMT Network Services Public Company Limited
133,881
Total
9,663
31,544
25,460
19,600 16,271
9,049
2013 2014 2015 2016 2017 Q3/2018
OS Balance
Collection
Investment
35
Port for Debt Acquisition as of 30 Sep 2018 = 133 Ports
Outstanding Balance as of 30 Sep 2018 = 133,881 MB
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 9M/17 9M/18 Q3/17 Q3/18
Cash
Collected 31 39 81 156 397 491 511 739 954 1,026 1,847 1,364 1,669 457 608
Debt Collection and Management Q3/2018 Cash Collection
JMT Network Services Public Company Limited
Unit: MB
1 42 86 102 160 154 136 194 142 150 53 53 14 23 54 73 173
194 153 228
417 603
916
678 911
235 315
17 15 27 82
182 211 256
350
384 287
737
544
608
169 239
31 39 81 156
397 491 511
739
954 1,026
1,847
1,364
1,669
457
608
0
200
400
600
800
1000
1200
1400
1600
1800
2000
Y2006 Y2007 Y2008 Y2009 Y2010 Y2011 Y2012 Y2013 Y2014 Y2015 Y2016 Y2017 9M/17 9M/18 Q3/17 Q3/18
Revenue 100%
Revenue IRR
Amortization of investment
Cash collection
MB
36
Debt Collection and Management Cash Collection and Revenues Momentum: Keep Goring Stronger
JMT Network Services Public Company Limited
Quarterly Cash Collection Trend Quarterly Debt Acquisition Revenues Trend
323
584
457 483
514 548
608
Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018 Q3/2018
209
323
289 289
341 351 369
Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018 Q3/2018
37 JMT Network Services Public Company Limited
Debt Collection and Management Key Strengths : Cost Control Focus
Q3/2018 Consolidated SG&A
Unit: MB Unit: MB
Q3/2018 Gross Profit and Margin
JP Insurance SG&A Advisor Fee One time expense
152
235 198 182
248 272 285
60.4% 59.0%
56.0%
61.9% 56.5%
63.0% 62.1% 62.8% 62.1%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
-
50
100
150
200
250
300
Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18
Gross Margin % GP Consol % GP Debt Only
47
57 58
49
62
84 77
Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18
10
18 12
38
Debt Collection and Management Q3/2018 JMT Group Performance
JMT Network Services Public Company Limited
Unit: MB
73
125
99 99
116
120
138
26.7%
32.8%
28.2% 27.8% 29.0%
26.6% 27.7%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
-
20
40
60
80
100
120
140
160
Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18
Net Profit
% NP
39
Debt Collection and Management Q3/2018 JMT Financial Ratio
ROA and ROE Interest Bearing Debt D/E Ratio
JMT Network Services Public Company Limited
Unit: Times Unit: %
12
19
8
16
19 18
9 8
3
7 9 8
2013 2014 2015 2016 2017 Q3/2018
ROE %
ROA %
0.31
1.96
1.16
0.96
1.21
0.96
2013 2014 2015 2016 2017 Q3/2018
40
41
Insurance Business JP Insurance PCL
JMT Network Services Public Company Limited
42
Insurance Business JP Insurance PCL – Business Update
43
Insurance Business JP Insurance PCL – Business Update
44
Insurance Business JP Insurance PCL – Business Update
Jaymart Public Company Limited 45
Opportunity Day Q3/2018
Jaymart Public Company Limited 46
50 Branches
Total Rental: 1,406 unit OCC Rate (Sep 2018): 86%
47
Occ rate : 94% (end of Sep 2018)
48
The Jas
Wanghin
Occ rate : 90% (end of Sep 2018)
The Jas
Ramintra
Occ rate : 78% (end of Sep 2018)
Jaymart Public Company Limited 49
EBITDA
Unit: MB Unit: MB
Total Revenues
562
758
379 375
2016 2017 9M/2017 9M/2018
70
148
69
110
2016 2017 9M/2017 9M/2018
Jaymart Public Company Limited 50 50
Unit: MB
Net Profit
5.7 6.4
-4.09
-37.4
2016 2017 9M/2017 9M/2018
Jaymart Public Company Limited 51
Re-Grand Opening Newera Condo
Jaymart Public Company Limited 52
Jaymart Public Company Limited 53
Jaymart Public Company Limited 54
Jaymart Public Company Limited
Q&A
For more questions: panya@jaymart.co.th