49
ENERGY ABSOLUTE PCL. OPPORTUNITY DAY for Q2/2021
ENERGY ABSOLUTE PCL.OPPORTUNITY DAY for Q2/2021
At a Glance
Credit RatingCorporate rating : A
CG RatingExcellent
Market Capitalization (as of 23.08.21)Approximately THB 220.1 bil. (US$ 6.6 bil.)
Somphote Ahunai (CEO),
46.22%
Domestic Fund, 12.68%
Foreign Juristic, 16.51%
Others, 24.60%
Somphote Ahunai (CEO) Domestic Fund Foreign Juristic Others
Shareholder Structure
Total Board Members = 11
Independent Directors = 6 (55%)
Executive Directors = 2 (18%)
Other Non - Executive
= 3 (27%)
A
2
Renewable Power Energy Storage Electric Vehicle and Charging Station PlatformBiodiesel
(1) COD
• Solar 278 MW
• Wind 386 MW
(2) New projects
(1) Amita Taiwan
400 MWh
(2) Amita Thailand
1 GWh (by 2021)
(1) EV (MINE SPA1)
(2) MINE Smart Ferry
(3) E-Bus and E-Truck
(4) Charging Station and
EA Anywhere application
(1) B100 & Glycerin
800,000 liters/day
(2) Bio-PCM & Green Diesel
130 tons/day (2 Phases)
(3) Other related
3
Our Business
4
Agenda
• Financial Performance
• Progress in Ongoing and Future business• Palm Oil-based Business• Renewable Power Business• Energy Storage Business• Electric Vehicle Business• EV Charging Platform
• 2021 Investment Plan
5
Financial Performance
Biodiesel
38%
Power
61%
Others
1%
• Revenue rose by 18% YoY mainly from the fully revenue recognition from Crude Palm Oil (CPO) sales by Larp Pakdee Palm (since 2Q20) and Karnjanadit Palm (since 3Q20) which lead to an increase of 468 Mil Baht.
• B100’s revenue rose 277 Mil Baht after CPO Stock decreased.
• For the power business, overall revenue contributed similar to the same period last year.
6M/20
Biodiesel
45%
Power
53%
Others
2%
6M/21
6
1,500 2,246
3,361 4,139
2,611
2,593
5,376
5,367
17
84
123
120
47
12
77
15
4,175 4,935
-
2,000
4,000
6,000
8,000
10,000
12,000
Q2/2020 Q2/2021 6M2020 6M2021
Mil.Baht Biodiesel Power Other Businesses Other Revenues
+18% YoY
+8% YoY
8,937
9,642
Revenue Up Amid Pandemic Situation
Gross Profit Margin by Business Q2/20 Q2/21
Biodiesel Business 6% 4%
Power BusinessSolarWind
81%52%
82%57%
89 85 180 174
1,861 1,864
3,936 3,960
(65) (126) (168) (167)
1,885 1,823
(300)
700
1,700
2,700
3,700
4,700
5,700
Q2/20 Q2/21 6M/20 6M/21
Mil.BahtBiodiesel BU. Power BU. Other Businesses
Note: Total Revenue and Net Profit are excluded Accounting Gain, Other Income, Gain/Loss from exchange rate.
7
+1% YoY
-3% YoY
3,948 3,968
Maintain Gross Profit During Covid Situation
• Gross Profit recorded the same level in 2Q and the second half of 2021.
Solar Gross Profit
Increase
YoY
3,948 3,968
(38) (640)(33)
39 (769)
(50) 2,603 2,601
Gross Profit 6M20 Selling Expense Share of Loss in investment Financial Cost Net Profit 6M21
+1%(Mil.THB)
YoY(Mil.THB)
1,885 1,823
(20) (292)(8)
13(379)
(12) 1,191 1,149
Gross Profit Q2/2020 Selling Expense Share of loss from investments Financial Cost Net Profit Q2/2021
-3%+4%
8
Maintain Net Profit During Covid Situation
21% YoY
Improving Efficency
7% YoY
Repaying Loan
Controllable Leverage Ratio and Diversified Payment Schedule
9
Total Interest Bearing Debt
Current portion of
Debentures & ST-Debt
15%
Debentures28%
LT-Debt57%
43,835Mil.Bt.
4,000 2,000 1,000 1,500 700
3,000
- -
4,000
2,337 4,390 6,299 5,635
2,766
3,030
642 212
-
6,337 6,390 7,299 7,135
3,466
6,030
642 212
4,000
2021 2022 2023 2024 2025 2026 2027 2028 2029
Mil.Bt.Bond LT-Loan
Interest Rate
Short Term Debt: 1.20 – 1.50%
P/N: 1.20 – 1.50%
Long Term Debt: 2.30 – 3.80%
Bond: 2.37 – 3.30%
D/E 1.56
Net D/E 1.43
On 10th July 2020, EA issued bond worth THB 2.2 billion - Tranche 1 : 2-year bond worth THB 500 million with 2.62% interest - Tranche 2 : 3-year bond worth THB 1,000 million with 2.94% interest- Tranche 3 : 5-year bond worth THB 700 million with 3.30% interest
On 11th February 2021, EA signed THB 1.5 billion 3-year loan to ADB and was certified by CBI to be green loan.
Net IBD/equity ratio not exceeding 3.5:1
Palm Oil-based Business
1010
Location Kabin Buri Industrial Estate, Prachinburi under BOI promotion & privileges
Plant Capacity
• Biodiesel 800,000 Liters per day
• Production of green diesel/PCM 65 Ton per day
• Refined Glycerin 80 Tons per day (by product)
B100 selling price increased 44.8% YoY after CPO Stock decreased despite its volume decreased 14% YoY following the Covid-19 outbreak.
Mil.liters Baht/liter
134175 188
152174 158
193 188
48.2 4125.00 28.60 30.99 35.07 24.18 20.17 17.69 28.79 23.33 33.78
0
100
200
300
2013 2014 2015 2016 2017 2018 2019 2020 Q2/20 Q2/21
Sales Volume Avg Price
-
100,000
200,000
300,000
400,000
500,000
600,000
Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20 Oct 20 Nov 20 Dec 20 Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21
CPO Stock
Unit : Ton
Market situation in Thailand
Source: Company data, Ministry of Commerce (https://bit.ly/3xEhcPg)
1,401.40 mil.THB
1,124.77 mil.THB
B100’s Revenue Up Driven by CPO Stock
11
280,000
300,000
320,000
340,000
B100 Demand
Q2/20 Q2/21
+25% YoY Unit : Ton
Fully Integrating Palm Oil Value Chain
Bio PCM Plant in Rayongcapacity 130 tons per day(2 phases)
Biodiesel Plant in Prachinburicapacity 800,000 Liters per day
Palm Oil Plant in Suratthanicapacity 0.5 ton per day
Palm Oil Plant in Krabicapacity 1.2 tons per day
Palm
New Era Existing and Beyond
Stabilize CPO Prices
Shore Tank
Palm Oil
Diesel equivalent,sell to oil companies
>>
12
ü Characteristics equivalent to Euro 5
Green Diesel
ü Jet Fuel
ü X2 engine performance X2
Opportunitiesof Green Diesel and Bio PCM
ü Purity
ü Construction Industryü Textile andGarment Industry
Bio - PCMBio-PCM absorbs heat above targeted range
Bio-PCM releases heat if temperature is lowerthan targeted range
13
18-22 ℃
Block heat
Release heat
Renewable PowerBusiness
14
175 149 142 159 167
330 326
146 157231 202 163
345 365 321 306 373 361 330
674 691
0
200
400
600
800
1000
1200
1400
1600
Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 6M/20 6M/21
Mil. kWh Solar Wind
Output Production
Steady Performance of Renewable Power 664 MW
EA Wind Hanuman (Chaiyaphum)
260 MW
EA Solar Phitsanulok 90 MWEA Solar Lampang
90 MW
EA Solar Nakornsawan90 MW
EA Solar Lopburi8 MW
EA Wind Hadkanghan(Songkla & Nakorn si thammarat)
126 MW
15
• Maintain the performance the same level from last year during Covid Situation
Solar,
278MW
Wind,
386MW
16
ü Robot Cleaningü Sun Tracker
ü Hydro Power Up to 2,880MWü Waste EnergyFeasibility
Improving Efficiency &Renewable Power Opportunities
Current Advanced to Improve Solar Efficiency
Current Advanced to Improve Solar Efficiency
• Koh Sichang, Koh Chang and Ranong • Saravan and Phamong
ü Re-install New Solar Panel
17
Driving Businessto New Era
18
THAILAND EV MARKETS
Source: State policies EV Committee
PRIVATE CHARGING FOR ELECTRIC LIGHT-DUTY VEHICLES WILL DOMINATE IN NUMBER AND CAPACITY
402,000
2,050,000
6,400,000
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Forecasting number of EV Passenger Car (Accum.)
13,450
40,500
2025 2030 2035
Forecasting number of charger (Accum.)
2,460
31,000
160,000
430,000
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Forecasting number of EV Truck & EV Bus (Accum.)
Potential Growth for EV Market: Thailand ZEV Plan
19
BATTERY DEMAND
Source: Thailand EV Board Resolution
Potential Growth for Thailand Battery
Thailand EV production target keep surging demand of battery more than 100 Gwh per year in 2035
2038
100
0
20
40
60
80
100
120
2025 2030 2035
Gw
h
EA Mobility Holding
Produce, assemble all buses and vans and sell
to distributor
Absolute Assembly (AAB)
EV Car – Produce, assemble, sell all
passenger EV
Mine Mobility Corp. (MMC)
EV Ferry – Own and operate mass
transport service and tourism
E Smart Transport(EST)
Capital 50M.THB
Distribute EV Bus and hire AAB to produce and assemble
EV Now *
Capital 1,674.45 M.THB
• Rent • Domestic&Overse
as sale• After sale service• Autopart• Service for all
buses
NEX
Transportation service and tourism
operator
Chao Phraya River Line(CRL)
R&D all electric vehicles
Mine Mobility Research
100%100%55% 40%
45%
75%
100%
100%
PRODUCER
DISTRIBUTOR
R&D SUPPORT
EV Business Structure
20
Energy Storage Business
Amita Taiwan
71.2%
PRODUCER &DISTRIBUTOR
Energy Storage Business
Amita TH100%
Energy storageBusiness
21
üProven and strong experience over 20 years
üProduce lithium-ion power battery with strong material science research and long test data accumulation supported by ITRI.*
üTurnkeys of high technology battery factory for EV in Beijing
üVarious patents
üAwarded submarine in Taiwan
üBringing Amita to manufacture in Thailand for BOI, Free Zone, Competiveness & Sustainability
üWorld class machine and facilities* ITRI, a nonprofit R&D organization of Taiwan, who played a vital role in Taiwan's economic growth, strengthen capabilities of innovation and cooperation with international partners all over the world.
22
Amita’s Reputable and Experienced in Energy Storage
One-stop Service for Customers
23
Accept for All types of Cooperations(JV, exclusive production line, etc)
• Supply all types of products (cells, modules, packs)
• Quickly scale up and running
In Free zone • Efficient and convenient for Import-
Export• Tax Benefits lead to competitiveness
Cell Module Pack
Energy Storage System : Core Technology for New Businesses
1 GWh
Phase I Final Target
50 GWh
EV Charging
Station
Electric Vehicle
(EV)
Energy TradingSystem
Energy Storage System
(ESS)
Electric Ferry
(E-Ferry)
Electric Bus
(E-Bus)
24
ü Fast charging 4C (15 Mins Charge)
ü Long cycle life over 3,000 (>8 Yrs)
All in-house developmentNOW NEXT
ü Charging 1C (1-Hour Charge)
ü Long cycle life over 8,000
Ultra Fast Charge
Durable Charge
Amita’s Competitive Battery Features
Solid State
ü Higher energy density
ü Ultra safety
ü Good conductivity and stability
25
EV Bus
EV Car E-Truck
E-Ferry
EV Mini Bus
AMITA Li-ion
Battery
AMITA Li-ion is the Key for Commercial EV
26
Potential Location of Energy Storage System in Power Gid
27
ESS The Game Changer
Renewable Energy Hybrid
Renewable ESS Household/EV
Support the use of electricity in remoting area
• Support the use of electricity in remoting area• Support energy trading
• Shift growth when EV demand comes
Total space is approximately 75,000 m2
* Capacity in Phase I (1Gwh) can reserve to 2 – 4 GWh
Installation& Test Run Full System
Ready to Commence the Production by 2021
28
Progress of Battery Factory Project
EV Ecosytem Integration
Electric VehicleBusiness
29
30
EA - EV Ecosystem
Leading Thailand’s EV to Support EA’s Sustainable Growth
Various type of EV vehicle offering commercial fleet
business come up with fast charge technology
World Class Factorydesigned by Professional
with international standard
High quality of battery supported by in-house strong R&D with countless patents
Fast charge technology will accerelate the
electrifying source of energy usage in commercial fleet
business
High standard of After sales service is one stop service for all model of our
EV vehicle
EV ChargerEV Vehicle FactoryBattery EV Vehicle After service
EA Mobility Holding
Produce, assemble all buses and vans and sell
to distributor
Absolute Assembly (AAB)
EV Car – Produce, assemble, sell all
passenger EV
Mine Mobility Corp. (MMC)
EV Ferry – Own and operate mass
transport service and tourism
E Smart Transport(EST)
Capital 50M.THB
Distribute EV Bus and hire AAB to produce and assemble
EV Now *
Capital 1,674.45 M.THB
• Rent • Domestic&Overse
as sale• After sale service• Autopart• Service for all
buses
NEX
Transportation service and tourism
operator
Chao Phraya River Line(CRL)
R&D all electric vehicles
Mine Mobility Research
100%100%55% 40%
45%
75%
100%
100%
PRODUCER
DISTRIBUTOR
R&D SUPPORT
EV Business Structure
31
eBus, eFerry andother commercial vehicles
MINE BUS
Battery size: 250-350 kWh Max Speed: 80 km/h
Rang/Charge: 250 km Max passenger: 80MINE Smart Ferry
Battery size: 800 kWh Max Speed: 18 knot
Rang/Charge: 100 km Max passenger: 250
MINE Truck
Ready Next Year
MISSION NO EMISSION
EV’s Eco-system: All modes of EV Applications
32
• Company: Absolute Assembly Co.,Ltd.
• Location: Chachoengsao
• Capacity: Up to 3,000 units per year
• Standard Granted: ISO:9001
• Area: Over 65,000 sq.m3
BUILD TO HIGHEST QUALITY
AAB – Global Standard E-Vehicles Plant
1.The plant designed by professional team who had designed international automotive manufacturing
2.Machine Sourcing / Installation / Commissioning by expertise in the automotive industry
3.Monitoring production process by professional partners to meet global standards and high quality of electric vehicles
The largest Integrated E-Bus Plant in Southeast Asia
33
40 40 40 40 40 4030
40 40 40 40 4030
40 40 40 40 40
80160
240310
390470
540620
700
-300
-100
100
300
500
700
900
0
50
100
150
200
250
300
5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00
Running Distance (km) Accumulated Distance (km)
40 40 40 40 40 40 40 40 40 40 40 40 40 40
80160
240 240320
400480 480
560
-300
-100
100
300
500
700
0
50
100
150
200
250
300
5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00
Running Distance (km) Accumulated Distance (km)
Vinfast’s VinBus§ Company – Vinfast (Vietnam)§ Range per charge – 220 to 260 km§ Charging Time – 2 hours (150 kW fast charge)
MINE Mobility’s MINE Bus§ Company – MINE Mobility (Thailand)§ Range per charge – 220 to 280 km§ Charging Time – 15 to 20 minutes (900 kW DC
super fast charge) > 4 time faster !!
VinBus
Fast charge model suits with commercial vehicle segment as it requires less charging time, thus more asset utilization during the day
Electric Bus with Time Saving for All 4 TimesFaster
Electric bus fleet Green Fleet for a Sustainable Transportation
35
Over 100 Completed Production 48 Derivering
www.minesmartferry.com 36
The First Thai Electric Ferry for Transportation and Tourism
Max PassengerRange
25080 – 100 km.per single charge
Commenced operation
5 May 2021 17 May 2021
Fully operate from Nonthaburi Pier to Phra Nang Klao Pier – Sathorn Pier
Within 3Q2021
27 electric ferries to be ready
Ultra Fast Charge within 15 Mins with 2 stations in North & South
800 kWhBattery capacity:
37
The First Thai Electric Ferry with Cost Saving for All
Sathorn Phra Nang Klao
Electric Train
77% Cheaper in the Same Destination
86 Baht
20 Baht
86 Baht
20 Baht
Sathorn Phra Nang Klao
MINE Smart Ferry
10,879 tCO2e/yr
GHG Emission ReductionSaving Diesel Fuel
4,029,260 Liters/yr
Based on 6 trips/day (365 days) service and 1 diesel boat uses 80 liters of diesel fuel
Greenhouse Gas Emissions 0.2159 tCO2e/yr per trip when serving 23 boats (Excluding 4 cruise ships) 38
EV ChargingPlatform
39
40
Urbanization and Sustainablity Creates Demand Supporting by Commercial EV
EA ANYWHERE Application Available nowHit ~ 20,00 downloads
Department Stores
Retails & Mix Use
Oil Stations
Offices & Property
No. of Locations~ 440
AC (Normal Charge)~ 1,100EA Anywhere Charging Station Platform
• DC Ultra-Fast Charger 300 kW/ 14 charging stalls / 28 chargers
• Equipped with control systems, command and status monitoring that is convenient and safe following on the charging standards
• 80% within 15-20 minutes with Ultra fast charging (Depend on battery size)
DC (Super Fast Charge)~ 600
DC (Ultra Fast Charge 300 kW)~ 1,700
Ahead of Charging Station Ahead of Charging Station
Total Ahead of Charging Station
Source: Electric Vehicle Association of Thailand (EVAT)
As of 7 May 2021Modern trade
41
No.1 in the Country Over 70% Market Share
42
EV Charging’s Competitive Advantages
ü Integrated EV charging to various business models
ü Industry leading charging design and maintenance
ü Fast charging technology with parallel charging
ü Leading R&D to support future technology
ü Secure prime location in urban areas
ü Business proven and first mover in Thailand
43
EV Charging’s Various Business Models and Opportunities
Urban Charging
OnlySelling Charger
Residential Usage
Commercial Usage
Selling Charger
Maintenance package
Monitoring Application
SELLING CHARGER
OPERATE
Slow and medium Charge maximum 40 kWh suitable for residential and working place
Fast Charge) Maximum 300kWh suitable for commercial EV vehicle
Expand the coverage c h a r g i n g a r e a t o a l l po tent ia l pub l ic and p r i v a t e l o c a t i o n i n c l u d i n g i n t e r s t a t e charging station at all interstate road.
Interstate / Stand alone Charging
Station
Located in prime area including Community mall
parking, Gas station, Office building serving daily use for
passenger car and taxi
Develop charging station along the interstate road to facilitate all commercial EV vehicles and passenger car
for long-length journey
Future Growth
MINE Smart Ferry Charging Station
1-1.4 MW
3.2 MW Battery 800 kWhfor 100 km
Battery 250-350 kWh
for 250 km
Ultra Fast Charge Solution
44
2021 Investment Plan
45
Battery Business 1,223 20.0%
EV Business, 1,506 , 24.7%
Charging Stations
426 7.0%
Bio Diesel & PCM 32
0.5%
Power Business,
2,787 , 45.7%
New Power Projects
126 2.1%
Capital Investment in 2021
Investment Plan in 2021
46
Investment Plan Progress / Target
Bio Diesel & PCM
32 mil.THB to invest in small machinery and equipment
Battery Plant (Thailand) 1,223 mil.THB. To start production in 2021
EV Business 1,506 mil.THB. Comprise of EV Bus and E Ferry.
EV Charging426 mil. THB. Currently, achieve around 500 stations in 53 provinces with more than 2,000 outlets installed and expanding to nationwide
Power Business 2,787 mil. THB. Mainly, to improve performance of solar plants and investing in new project
New Power Projects 126 mil.THB. Under studying
6,100 mil. THB
Leading Thailand’s EV to Boost EA’s Sustainable Growth
Disclaimer
This presentation contains summary information about Energy Absolute Public Company Limited (“EA” or “the Company”) and its subsidiaries as of 25 May 2021 and, unless stated otherwise. The information does not purport to be complete or comprehensive.
This presentation contains forward looking statements that may be identified by use of words such as “anticipates,” “hopes,” “expects,” “estimates,” “intends,” “projects,”“plans”, “predicts,” “projects”, “aims” or other similar expressions that are used to identify such statements. Forward looking statements are based on certain assumptions and expectations of future events. No guarantee nor assurance is made that these assumptions and expectations are accurate or will be realized. Such forward looking statements should be considered with caution, since actual results may differ materially from those expressed or implied by such statements.
The information in this presentation were obtained from various external sources which has not verified through any independent source. No representation or warranty, either express or implied, is made regarding the accuracy, completeness, correctness, reliability, or scope of the information and disclaim all responsibility and liability for the information (including, without limitation, liability for negligence).
This presentation is provided for the sole purpose of enhancing understanding of the Company and should not be construed as a legal, tax or investment recommendation or any other type of advice.
The Company does not provide any representation, warranty, endorsement, or acceptance, about opinion or statement of any analyst s or other third parties; or the use of any such opinion, or statement of any analysts or other third parties.
This document is strictly confidential and being given solely for your information and may not be shared, copied, reproduced or redistributed to any other person in any manner.
