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������ ������� �� �� (�����)Prinsiri Public Company Limited
PresentationOpportunity Day23 March 2006
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Contents
Company Profile
Operation Overview
Industry Overview
Financial Highlights
Company Highlights
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Company Profile
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Main Business : Property Development
Establishment : February 23, 2000
Listed : November 7, 2005
Paid-up Capital : 670 Million Baht
No. of Shares : 670 Million Shares
Par Value : 1 Baht
Head Office : 123 Sun Towers A 12 th Fl., Vibhavadi-Rangsit,
Chompol, Chatuchak, Bangkok 10900
No. of Employees : 225 Employees
Company Profile
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Group Structure
Prinsiri Plc.Paid-up Capital 670 Million Baht
Grow Yotha Group Co.,Ltd.Paid-up Capital 10 Million Baht
Prinventure Co.,Ltd.Paid-up Capital 5 Million Baht
99.99% 51.00%
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Board of Directors & Management Team
Board of Directors
1. Mr.Mongkol Pao-in2. Mr.Surabhon Kwunchaithunya3. Ltn.Sivaraks Phinicharomna4. Mr.Amnat Ngamsuriyarote5. Ms.Siriluck Kovitchindachai6. Mr.Kwanchai Mongkolkittaveepol7. Mr.Chaiwat Kovitchindachai8. Mrs.Moogda Arriyavat9. Mr.Sakol Pao-in10. Mr.Numchai Vanapanubet
Executive Committee
1. Ms.Siriluck Kovitchindachai President2. Mr.Kwanchai Mongkolkittaveepol Executive Committee3. Mr.Chaiwat Kovitchindachai Executive Committee4. Mr.Sakol Pao-in Executive Committee5. Mr.Namchai Vanapanubet Executive Committee
Management Team
1. Ms.Siriluck Kovitchindachai Managing Director2. Mr.Kwanchai Mongkolkittaveepol Assistant Managing Director
(Marketing)3. Mr.Chaiwat Kovitchindachai Assistant Managing Dire ctor
(Construction)4. Mr.Namchai Vanapanubet Assistant Managing Director
(Finance)5. Mr.Sakol Pao-in Assistant Managing Director
(Administration)
ChaimanChairman of Audit CommitteeAudit CommitteeAudit CommitteeDirectorDirectorDirectorDirectorDirectorDirector
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Shareholder Structure
Kovitchindachai Group
76.01%
Public23.99%
As of 28 February 2006
(670 Million Shares)
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Products
“Experience a Truly Charming Home
“ �����������... ��������������������”Amidst Lush Nature”
Single Detached Home(Premium Market)
(Siritawara)
Single Detached Home(Middle Market)
(Prinyada)
Town House
(Prinyaluck)
Other
(The Pulse)
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Products
Siritawara
Single Detached Home (Premium Market)
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Products
Single Detached Home (Middle Market)
Prinyada
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Products
Prinyaluck
Town House
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Products
The Pulse
Condominium
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Achievements
Awards of Merit from Pacific Coast Builders Confere nce (PCBC),
San Francisco, USA, Year 2001 & 2004
Year 2001Best Single FamilyDetached Home(under 1,800 sf)
Year 2001Best Single FamilyDetached Home(2,601–3,000 sf)
Year 2004Best Single FamilyDetached Home(3,300-3,600 sf)
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Marketing Strategy
Product DifferentiationImage Differentiation
Brand Awareness
Profit ThroughCustomer
Satisfaction
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Operation Overview
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Sold Out / Completed Projects
Opening Sold-out
date date Unit Value (MB.) %
Prinsiri Soi Samakomphad 2-Storey SDH Sep-00 Dec-02 90 496.96 18.38
Prinsiri Privacy 2-Storey SDH Mar-02 Jun-03 25 213.54 7.90
Prinyaluck Chamchan 3-Storey TH Jun-02 Feb-04 137 318.43 11.78
Prinyaluck Nawamin 3-Storey TH Feb-04 May-05 168 503.50 18.62
Prinyada Chalongrat 2-Storey SDH May-04 Dec-05 190 1,171.27 43.32
Total 610 2,703.70 100.00
Sold & TransferredProject Characteristics
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Current ProjectsAs at 31 December 2005
Unit Value (MB.) Unit Value (MB.) % Unit Value (MB.) %
Prinsiri Nawamin Sep-02 88 727.72 85 683.72 93.95 85 683.72 93.95
Prinsiri Nuanchan Mar-03 49 415.09 49 415.09 100.00 48 398.09 95.90
Prinyada Chamchan Sep-03 27 174.67 24 148.64 85.10 24 148.64 85.10
Siritawara Oriental Dec-03 67 1,128.05 41 678.60 60.16 27 436.18 38.67
Prinyada Theparak Phase I Mar-04 83 395.91 53 237.45 59.98 52 231.62 58.50
Prinyada Sathon Ring Road Apr-05 174 1,046.23 160 961.47 91.90 57 306.61 29.31
Prinyada Theparak Phase II Jun-05 106 304.10 100 285.97 94.04 46 126.75 41.68
Total Single Detached House 594 4,191.77 512 3,410.94 81.37 339 2,331.61 55.62
Prinyaluck Rama II Jun-05 164 538.12 132 424.81 78.94 51 157.34 29.24
Prinyaluck Exclusive Sep-05 48 209.59 30 98.64 47.06 25 80.23 38.28
212 747.71 162 523.45 70.01 76 237.57 31.77
806 4,939.48 674 3,934.39 79.65 415 2,569.18 52.01
Total Townhouse
Total
Sold TransferredProject Opening date
Total
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Projects Status
As at 31 December 2005
(MB.)
683.72
398.09
148.64
436.18
231.62
306.61
126.75
157.34
80.23
683.72
415.09
148.64
678.60
237.45
961.47
285.97
424.81
98.64
727.72
415.09
174.67
1,128.05
395.91
1,046.23
304.10
538.12
209.59
0 200 400 600 800 1000 1200 1400
Prinsiri Nawamin
Prinsiri Nuanchan
Prinyada Chamchan
Siritawara Oriental
Prinyada Theparak Phase I
Prinyada Sathon Ring Road
Prinyada Theparak Phase II
Prinyaluck Rama II
Prinyaluck Exclusive
Transferred Sold Total
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Projects Location
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Projects Location
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Projects Location
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New Projects Launched in 2006
Unit Value (MB.)Prinsiri ProjectsPrinyada Rama II Phase I 2 stories SDH 69 513 Prinyaluck Intraluck 3 stories TH 42 168 The Pulse Condominium - Lardprao 9 stories Condo 202 323 Prinyaluck Sathon Ring Road 3 stories TH 135 418 Prinyada Buddha Monthon Sai II 2 stories SDH 87 699 Prinyada Kaset-Nawamin 2 stories SDH 160 872 Prinyaluck Aekkachai 3 stories TH 202 691 Prinyaluck Petchkasem 3 stories TH 257 824 Condominium - Rajchaprarop 33 stories Condo 547 1,400 Total Prinsiri Projects 1,701 5,908 Prinventure ProjectsSDH Onnuch 2 stories SDH 62 405 TH Onnuch 3 stories TH 184 595 SDH Rangsit 2 stories SDH 233 800 TH Rangsit 2 stories TH 311 550 Home Office Onnuch Home Office 22 110 Total Prinventure Projects 812 2,460
Total 2,513 8,368
Q3/06 Q4/06Expected Opening DateProject Characteristics Total
Q2/06Q1/06
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Industry Overview
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Housing Registration in BKK & Vicinity
Source : Bank of Thailand
32,028 34,023 34,035
50,594
62,79667,829
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
2000 2001 2002 2003 2004 20050
1
2
3
4
5
6
7
8
Launched Unit GDP (%)
(Unit) (%)CAGR 16.19% 8.01%
25Source : Bank of Thailand
Housing Registration in BKK & VicinityBy Category
26.01 28.48
42.22
59.4764.90
52.98
17.59 13.79
5.79
3.773.48
9.81
56.40 57.7251.98
36.7631.62
37.21
0%
20%
40%
60%
80%
100%
2000 2001 2002 2003 2004 2005
Housing Project Apartment & Condominium Self-Buit Housing
26Source : AREA
New Housing Launched in BKK & Vicinity
Detached, 39%
Duplex, 3%Town House, 29%
Shop House, 4%
Condominium, 24%Land, 1%
Detached, 31%
Duplex, 5%
Town House, 28%
Shop House, 3%
Condominium, 30%
Land, 3%
Year 2004Total Newly Launched
62,437 Unit
Year 2005Total Newly Launched
58,006 Unit
27Source : GHB & Home Buyer (Research date 19 – 21 November 2004)
Demand of Housing Price
500,001 Baht-
4,000,000 Baht
78.94%Price (Baht) Person %> 500,000 1,432 6.76
500,001 - 1,000,000 4,797 22.64 1,000,001 - 1,500,000 3,855 18.19 1,500,001 - 2,000,000 3,163 14.93 2,00,0001 - 3,000,000 3,294 15.55 3,000,001 - 4,000,000 1,618 7.64 4,000,001 - 5,000,000 1,042 4.92 5,000,001 - 7,000,000 1,014 4.79
< 7,000,001 418 1.97 No Specify 556 2.62
Total 21,189 100.00
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Price (Baht) Detached Duplex Town House Shop House Condominium Land Total> 500,001 - - - - 863 1,370 2,233
500,001 - 1,000,000 565 314 6,045 9 4,757 - 11,690 1,000,001 - 2,000,000 2,086 1,108 6,582 110 5,887 211 15,984 2,000,001 - 3,000,000 2,717 1,270 785 367 1,631 93 6,863 3,000,001 - 5,000,000 6,678 222 2,397 994 1,893 12 12,196
5,000,001 - 10,000,000 4,439 93 597 148 1,348 4 6,629 10,000,001 - 20,000,000 1,246 - 23 - 662 - 1,931
< 20,000,000 83 - - - 397 - 480 Total 17,814 3,007 16,429 1,628 17,438 1,690 58,006
New Housing Launched in BKK & VicinityYear 2005 By Price Range
500,001 Baht-
5,000,000 Baht80.57%
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Housing Demand in BKK & Vicinity Year 2006 (Estimate)
67,829Unit
Year 2005
68,000 – 72,000Unit
Year 2006
0.25% - 6.15%
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Financial Highlights
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Total Revenues(MB.)
376.41
1,170.44
1,486.66
2,325.34
-
500
1,000
1,500
2,000
2,500
2002 2003 2004 2005
CAGR 83.49 %
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Revenue Structure
SDH - Prem. market37.94%
SDH - Middle market38.66%
Townhouse22.23%
Other Revenues1.17%
Total Revenue1,486.65 MB.
Total Revenue2,325.34 MB.
Year 2004
SDH - Prem. market18.42%
SDH - Middle market56.44%
Townhouse18.05%
Revenue from Sales3.07%
Other Revenues4.01%
Year 2005
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Revenues by Quarterly
Q112.88%
Q216.87%
Q327.50%
Q442.76%
Q112.93%
Q29.91%
Q320.26%
Q456.90%
2003 2004 2005
Q116.53%
Q211.58%
Q324.11%
Q447.78%
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Gross Profit Margin
20.3%21.3%
28.8%30.9%
0%
5%
10%
15%
20%
25%
30%
35%
2002 2003 2004 2005
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Net Profit(MB.)
18.27
114.11
184.19
304.75
-
50
100
150
200
250
300
350
2002 2003 2004 2005
CAGR 155.51 %
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Net Profit Margin
4.85%
9.75%
12.39%13.11%
0%
2%
4%
6%
8%
10%
12%
14%
2002 2003 2004 2005
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COGS , SG&A
79.71% 78.71%71.25% 69.72%
11.47%6.45%
10.82% 11.43%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2002 2003 2004 2005
COGS SG&A Revenue
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Total Asset, Total Liabilities & Total Equity(MB.)
850.97
2,200.83 2,124.42
3,196.99
1,748.08
1,334.70
1,613.29
673.54
1,448.91
789.72587.54
177.43
-
500
1,000
1,500
2,000
2,500
3,000
3,500
2002 2003 2004 2005
Total Asset Total Liabilities Total Equity
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ROE & D/E Ratio
ROE D/E Ratio
Times
21.0%
26.5%
17.0%
29.8%
0%
5%
10%
15%
20%
25%
30%
35%
2002 2003 2004 2005
1.21
3.80
2.75
1.69
0
1
2
3
4
2002 2003 2004 2005
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Financial HighlightsItems 2002 2003 2004 2005
Pre-Sales (THB M.) 634.9 844.5 2,117.4 2,660.3
Sales (THB M.) 374.0 1,168.8 1,469.2 2,241.0 Total Revenues (THB M.) 376.4 1,170.4 1,486.7 2,325.3
YoY , QoQ Chg (%) N.A. 210.9% 27.0% 56.4%Gross Profit (THB M.) 75.9 248.9 422.5 692.9
Gross Margin (%) 20.3% 21.3% 28.8% 30.9%Operating Profit (THB M.) 35.4 175.2 279.3 448.8
Operating Margin (%) 9.5% 15.0% 19.0% 20.0%Net Profit (THB M.) 18.3 114.1 184.2 304.2
Net Profit Margin (%) 4.9% 9.7% 12.4% 13.1%
Basic EPS (THB) 0.10 0.23 0.36 0.52 Fully Diluted EPS (THB) 0.03 0.17 0.27 0.45
Total Assets (THB M.) 851.0 2,200.8 2,124.4 3,196.9 Equity (THB M.) 177.4 587.5 789.7 1,448.9
Financial Debt (THB M.) 498.1 1,480.5 1,043.6 955.1
Debt to Equity (x) 3.80x 2.75x 1.69x 1.21xROAA (%) 2.8% 7.5% 7.9% 9.5%*ROAE (%) 17.0% 29.8% 26.5% 21.0%*
*Calculated base on LTM Net Income# Consolidated Figures
41Company Highlights
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Company Highlights
� Long Experienced Management� Excellent Location, High Growth Area� Implement New Designs & Use of High Quality Materials� Competitive Pricing with Effective Marketing Strategies� Expanding Revenue� Growth in Profit Margin� Healthy Balance Sheet with Low D/E, High Interest Coverage
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Investor Relation Contact
Mr.Chatree ChancharoenritTel : (02) 617-6900 Ext. 602
Fax : (02) 617-6910-11Email : [email protected]
Address : 123 Sun Towers A 12th Fl., Vibhavadi-Rang sit,Chompol, Chatuchak, Bangkok 10900
Website : www.prinsiri.com
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