Prepared by Investor Relations DepartmentVGI Global Media Plc
VGI Global Media PCL
VGI Group General PresentationNovember 2018
Prepared by Investor Relations DepartmentVGI Global Media Plc 2
Investment involves risk. Prospective should understand the characteristics of Securities and study information about VGI Global Media Public CompanyLimited (“VGI” or the “Company”) before making a decision to invest in Securities.
This Presentation is not intended to provide the basis for any investment decision, nor to substitute your own analysis and investigation, and should not beconsidered as a recommendation to any recipient of this Presentation. Some statements made in this presentation are forward-looking statements, whichare subject to various risks and uncertainties. These include statements with respect to the Company’s corporate plans, strategies and beliefs and otherstatement that are not historical facts. These statement can be identified by the use of forward-looking terminology such as “may”, “will”, “expect” ,“intend”, “estimate”, “continue”, “plan” or other similar words.
The statements are based on the assumptions and beliefs of the Company’s management in light of the information currently available to the Company.These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from anyfuture results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this Presentation is, or should be, reliedon as promise or representation of the Company as to the future.
Disclaimer
Prepared by Investor Relations DepartmentVGI Global Media Plc
Agenda
3
Section 1 Company at a Glance 4
Section 2 Strategic Direction 8
Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12
Section 4 Business Profile by Segment and Potential Upsides
Section 4.1 Advertising 15
Section 4.2 Payment 25
Section 4.3 Logistics 27
Section 5 O2O Showcases 30
Section 6 2017/18 Financial Performance 35
Section 7 2Q 2018/19 Financial in More Detail & Business Update 37
Appendices
Prepared by Investor Relations DepartmentVGI Global Media Plc
Company at a GlanceKey investment features
4Section 1: Company at a Glance
Leading in a strong industry with diversified world-class assets
• #1 share position in OOH advertising – with over THB 7,000mn inventory on hand
• #1 share position in micropayment (Rabbit Group) – with more than 4mn rewards members
• #1 share position in logistics (Kerry Express) - delivers more than 1,000,000 parcels daily
Exclusive market positions
• Partnership with leading players including BTS, LINE, Kerry Express, AIS and Rabbit Group, directly connecting to 18mn users
Solid growth prospects
• 4 – 5 times expected increase in transit media capacity by 2021/22through relationship with BTS
• Exposure to the fast-growing e-commerce industry through Kerry Express and Rabbit Group
Largest and most profitable media company
• No. 1 listed Media Company on SET by market capitalisation of THB 64,603m (USD 1,951m).
• Most profitable OOH media company in Thailand and is the top five most profitable OOH media companies in Asia, generating THB 3,936m in total sales revenue with a superior profit margin of 21.5%.
Prepared by Investor Relations DepartmentVGI Global Media Plc
Company at a GlanceKey milestone
5Section 1: Company at a Glance
1BTS refers to Bangkok Mass Transit System Plc.2POV refers to Point of View Media Group Co. Ltd.3MACO refers to Master Ad Plc.4Aero Media refers to Aero Media Group Co. Ltd.5Demo Power refers to Demo Power (Thailand) Co. Ltd.6Bangkok Smartcard System Co. Ltd. and BSS Holdings Co. Ltd.
1990s: Keeree Kanjanapas founded the BTS1, operator of BTS SkyTrain
1998: His son as business successor, Kavin Kanjanapas then invented the new concept and business model of BTS SkyTrain financed by advertising, laying the foundations for the company’s future success. VGI Global Media (“VGI”) was born.
1999: The BTS Skytrain system was officially opened. VGI was granted the exclusive right from BTS to manage the advertising spaces and commercial areas on all BTS network which will be expired in December 2029.
1990s - 1999
BEGINNINGS
THE NO.1 OOH NATIONWIDE MEDIA REAL ESTATE AGENT
2012: Become a publicly traded company on the SET
2013 – 2014: Included as a constituent member of SET 100 and SET 50
2015:
• Exited the Modern Trade media business.
• Expanded its stake in MACO3 to 37% – the leading Outdoor media with nationwide network coverage and overseas expansion.
• Acquired 30% of Aero Media4 – the leading Aviation media across Thailand
• Acquired 40% stake in Demo Power5 – the leading demonstration services reaching to end-consumer nationwide.
2016:
• Now present in all provinces of Thailand, VGI becomes the #1 Out-of-Home Media Platform in Thailand
2012 – 2016
TRANSFORMING TO THE O2O SOLUTIONS
2017: Acquired 90% in Rabbit Group6 – the leading digital solutions.
2018: Successfully acquired 23% in Kerry Express (Thailand) – the leading parcel delivery services in Thailand.
2017 - Present
EXPANSION
2003-2010: Entered into the Modern Trade media business at Tesco Lotus and Big C.
2009: Acquired 100% of POV2, the leading Office media in Bangkok CBD.
2010: Acquired the right to manage advertising on the BRT bus system
2003 – 2010
Prepared by Investor Relations DepartmentVGI Global Media Plc
Company at a GlanceShareholding structure, historical dividend payment and share price movement
6
1,0
33
75
5 41
2
74
1
2.7% 2.7%1.2% 1.2%
2014/15 2015/16 2016/17 2017/18
Dividend (THB mn) Dividend Yield (%)
(THB) (THB mn)
SHAREHOLDING STRUCTURE (as of November 2018) DIVIDEND INFORMATION
Note:• Dividend yield is calculated using VGI closing share price one day before the date of BOD meeting approving
the relevant dividend.• 2014/15 interim dividend included stock dividend (at par value) of 1:1
SHARE PRICE MOVEMENT (as of 16 November 2018)SHARE INFORMATION (as of 31 October 2018)
Section 1: Company at a Glance
Stock code VGI
Outstanding shares (mn shares) 8,556.7
Market capitalisation (THB mn) 64,602.9
Market capitalisation (USD mn) 1,951.2
Average daily traded value (THB mn)* 84.7
Average daily traded value (USD mn)* 2.6
*Last 12 months average daily traded value
Kanjanapas Family
BTSG’s Minorities
45.0%
0.5%
28.7%25.7%
0.1%
41.0% 59.0%
97.5% BTSG
PublicBTSCKanjanapas
Family
VGI
0.6%
7.85
0
200
400
600
800
1,000
1,200
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
VGI TURNOVER (RHS) SET Index (rebased) VGI TB
ADTV = THB 128mn
Payout Ratio:
2014/15 123%
2015/16 85%
2016/17 62%
2017/18 87%
Dividend Policy: Not less than 50% of net profit
Prepared by Investor Relations DepartmentVGI Global Media Plc
Agenda
7
Section 1 Company at a Glance 4
Section 2 Strategic Direction 8
Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12
Section 4 Business Profile by Segment and Potential Upsides
Section 4.1 Advertising 15
Section 4.2 Payment 25
Section 4.3 Logistics 27
Section 5 O2O Showcases 30
Section 6 2017/18 Financial Performance 35
Section 7 2Q 2018/19 Financial in More Detail & Business Update 37
Appendices
Prepared by Investor Relations DepartmentVGI Global Media Plc
ADVERTISING PAYMENT LOGISTICS
Transit & Office Outdoor Airport ActivationOffline & Online
PaymentMarket Place Micro Loan Smart Delivery
Strategic DirectionDiversified world class platforms
8
THB 7,000mn media capacity 4mn rewards members 1,000,000+ parcels/ day
O2O SOLUTIONS
ConversionEngagementAwareness
18MUSERBASE DATA
Section 2: Strategic Direction
Prepared by Investor Relations DepartmentVGI Global Media Plc
Strategic DirectionCombine advertising, payment and logistics platforms to create data driven solution
9
FUNDAMENTAL
PLATFORM
SOLUTIONS
VALUES GROWTH INNOVATION
ADVERTISING PAYMENT LOGISTICS
DATA
OFFLINETO
ONLINE
ADVERTISING
Apart from the organic growth, we will increase our digital inventories by 40% in order to link the offline content to online by applying our programmatic technology
LOGISTICS
Triple the delivery and activation capacity, it will allow us to have 2mn daily interaction with consumers.
PAYMENT
We aim to expand our rewards members from 4mn to 10mn members and expand our payment touch points nationwide within the next 3 years.
CONNECTOR
Section 2: Strategic Direction
Prepared by Investor Relations DepartmentVGI Global Media Plc
Strategic Direction3-Year revenue target at THB 10bn and net profit at THB 2bn
10
Revenue of THB 10bn in 2020/21+35% 3-year CAGR
Net profit of THB 2bn in 2020/21 +30% 3-year CAGR
AD Advertising+40% digital screens
Payment10mn rewards members
User base data40mn data points with depth and more dimension for targeting and media planning
Logistics2mn daily interaction
Section 2: Strategic Direction
OPERATION TARGETFINANCIAL TARGET
Prepared by Investor Relations DepartmentVGI Global Media Plc
Agenda
11
Section 1 Company at a Glance 4
Section 2 Strategic Direction 8
Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12
Section 4 Business Profile by Segment and Potential Upsides
Section 4.1 Advertising 15
Section 4.2 Payment 25
Section 4.3 Logistics 27
Section 5 O2O Showcases 30
Section 6 2017/18 Financial Performance 35
Section 7 2Q 2018/19 Financial in More Detail & Business Update 37
Appendices
Prepared by Investor Relations DepartmentVGI Global Media Plc
Section 3: Focus on Fast-Growing Industry: Media and E-Commerce
Focus on Fast-Growing IndustryOut-of-Home industry
12
Rising in infrastructure, urbanisation and increasing number of people who spend time outdoor were driven the growth of Thailand OOH Media.
VGI GROUP’S FOCUS
• Our focus has proven to be the fastest growth media sector OOH
• Thailand’s No.1 Transit media in Bangkok
• The sole player in Office media with 177 Grade A&B buildings under management
• The leading Outdoor media with nationwide network coverage and overseas expansion
• Thailand’s No.2 Aviation media at 14 airports in Thailand and Yangon airport in Myanmar
• The first mover in Thailand who established the integrated online and offline media platform
• We are also the first mover in making advertising become more data-driven, hence, creating O2O Solutions.
-19.7%
-13.1%
-10.8%
-2.7%
-0.7%
9.9%
18.3%
34.8%
In-store
Traditional media**
Analogue TV
Total industry
Cinema
OOH
Online
Digital*
ADVERTISING MARKET 5 YRS CAGR (2012/13 – 2017/18)
The accelerated growth of online, digital and OOH media fueled by migration to mobile devices and increased consumer media exposure as people spend more time out of home.
* Digital adspend based on December year-end reported by DAAT** traditional media includes Radio, Newspapers, Magazines
VGI’s Focus
* Online adspend includes banner ad on 50 websites and 10 mobile sites ** based on December year-endSource: The Nielsen (Thailand) Co., Ltd. and Digital Advertising Association Thailand (DAAT)
5 YRS HISTORICAL ADVERTISING SPENDING (THB bn)
2013/14 2014/15 2015/16 2016/17 2017/18
TV Traditional media OOH media Cinema Online* Digital adspend (DAAT)**
Coupd’etat
ShutdownBKK
113bn
62.3%
23.3%
9.0%4.7%0.8%
107bn
65.7%
16.0%
11.3%5.5%1.6%
120bn
1.0%
68.5%
18.0%8.0%4.4%
121bn0.8%
68.0%
19.4%
3.7%8.1%
Mourning effect
4bn 6bn8bn 9bn
100bn
64.8%
13.4%
13.3%7.0%1.5%
12bn
56.0%
44.0% 43.6%
28.4%24.7% 22.9%
15.4%
Focus Media VGI Lamar Outfrontmedia
APG Stroeer JCDecaux
ONE OF THE MOST HIGHEST EBITDA MARGIN MEDIA COMPANY
The top 3 profitable OOH media company globally.
Source: BloombergRemark: • EBITDA margin as of 2017.• VGI EBITDA margin as of 2017/18.
Prepared by Investor Relations DepartmentVGI Global Media Plc
THAILAND E-COMMERCE MARKET SIZE (THB tn) E-COMMERCE PENETRATION
Thailand’s e-Commerce market is still immature, hence fast growth in e-Commerce and demand for logistics are expected.
THAILAND HAS A LOW E-PAYMENT USAGE PER CAPITA 150 E-PAYMENT TRANSACTIONS PER CAPITA IN 2020
E-commerce’s penetration to retail sales in Thailand is still relatively immature, exponential room to grow
17 21 26 31 35 3949
150
2010 2011 2012 2013 2014 2015 2016 2020E
9x increased
United Kingdom314
Singapore716
Malaysia82
South Korea413Thailand
49
Source: Payment Systems Report (2016), Bank of Thailand
Source: Electronic Transaction Development Agency
Source: Payment Systems Report (2016), Bank of Thailand
Source: Statista
Sweden420
Focus on Fast-Growing IndustryE-Commerce industry
13Section 3: Focus on Fast-Growing Industry: Media and E-Commerce
0.31
2.81
2007 2017
+900%
3.1%
7.4%
9.0%
16.0%
19.1%
23.1%
Thailand
Japan
US
South Korea
UK
China
Prepared by Investor Relations DepartmentVGI Global Media Plc
Agenda
14
Section 1 Company at a Glance 4
Section 2 Strategic Direction 8
Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12
Section 4 Business Profile by Segment and Potential Upsides
Section 4.1 Advertising 15
Section 4.2 Payment 25
Section 4.3 Logistics 27
Section 5 O2O Showcases 30
Section 6 2017/18 Financial Performance 35
Section 7 2Q 2018/19 Financial in More Detail & Business Update 37
Appendices
Prepared by Investor Relations DepartmentVGI Global Media Plc
Advertising: Transit MediaNo.1 in Transit Media
15
No. of location 30 stations/208 carriages
Static Media > 4,000 displays
Digital Media >2,000 screens
Viewer reach >740,000 people/day
Merchandising space > 8,000sqm.
I. TRAIN
II. STATION
III. MERCHANDISING & OTHER
TRANSIT MEDIA PROFILE OUR PRODUCTS
• Exclusive rights to manage advertising space on BTS Sky Train network:
RIGHTS & NETWORK
• 23 core network: 18 May 2012 – 4 Dec 2029• 7 extensions: 6 May 2015 – 4 Dec 2029
EFFECTIVE PERIOD
• 23 core network: 5% - 20% of BTS revenues/year (an increase of 5% every 5 years)
• 7 extension's: fixed rate
CONCESSION FEE (PAYABLE TO BTSC & BMA)
• First right of refusal for Core Network and new extension lines that BTS secures post 2029
8 YRS CAGR: +12.4%
KEY FINANCIAL HIGHLIGHTSDespite frequent interruptions, ridership growth drives continuous revenue growth of BTS-related media.
889 934 1,143
1,422 1,679 1,805 1,793 1,865
2,262
2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18
coupd’etat
ShutdownBKK
floodsRedshirt
Yellowshirt
Section 4.1: Advertising
2017/18Revenue Contribution
Transit media revenue (THB mn)
57.5%
MorningPeriod
Royal cremation
Prepared by Investor Relations DepartmentVGI Global Media Plc
ROUTE DISTANCE NO. OF
STATIONOPERATING
DARK GREEN MO CHIT 17.0 17 DEC-99
(CORE) – ON NUT
LIGHT GREEN NATIONAL STADIUM 6.5 6 DEC-99
(CORE) – SAPHAN TAKSIN
LIGHT GREEN SAPHAN TAKSIN 2.2 2 MAY-09
(EXTENSION) – WONGWIAN YAI
DARK GREEN ON NUT – BEARING 5.3 5 AUG-11
(EXTENSION)
LIGHT GREEN WONGWIAN YAI 5.3 3 DEC-13
(EXTENSION) – BANG WA
DARK GREEN(EXTENSION)
BEARING – SAMRONG 1.8 1 APR-17
EXISTING LINES AS OF 2017/18 EXISTING LINES BY OPERATOR
BANG YAI – TAO POON23.0km
NATION. STADIUM – BANG WA14.0km
MO CHIT – SAM RONG24.1km
PHAYATHAI – SVB28.5km
TAO POON– HUA LAMPHONG21.2km
ROUTE DISTANCE NO. OF
STATIONOPERATING
BLUE BANG SUE – TAO POON 21.2 19 JUL-04
PURPLE BANG YAI – TAO POON 23.0 16 AUG-16
ROUTE DISTANCE NO. OF
STATIONOPERATING
AIRPORT LINK (RED LINE)
PHAYATHAI –SUVARNABHUMI
28.5 8 AUG-10
Advertising: Transit MediaAt 110.8km Bangkok’s Mass Transit Network is immature
16
35 35 8
38.1 44.2 28.5
TOTAL DISTANCE: 110.8KM
743,223 378,167 70,000
BTS BEM SRT
TOTAL AVG. WEEKDAY RIDERSHIP: 1,191,390
TOTAL STATION: 78
Source: BTSC, BEM and State Railway of Thailand (SRT)
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
137.3 125.4
113 67
ADDITIONAL LINES IN 2021/22 FUTURE LINES IN 2021/22
BTS’SFOCUS
ROUTE DISTANCE NO. OF
STATIONOPERATING
GREEN (SOUTHERN)
BEARING- SAMUT PRAKARN
12.6 9 2018
GREEN (NORTHERN)
MO CHIT – SAPHAN MAI – KHU KHOT
18.2 16 2020
PINKKHAE RAI – PAK GRED
– MIN BURI34.5 30 2021
YELLOWLAD PRAO
– SAM RONG30.4 23 2021
GREEN (WESTERN)
BANG WA - TALING CHAN
7.0 6 2022
LRT BANG NA - SUVARNABHUMI 18.3 14 2022
GREY (I) WATCHARAPHON – THONG LO 16.3 15 2022
OTHER ROUTE DISTANCE NO. OF
STATIONOPERATING
BLUEHUA LAMPHONG
- BANG KHAE14.0 11 2020
BLUE BANG SUE - THA PRA 13.0 9 2020
BLUEBANG KHAE –
BHUDHAMONTHON 48.0 4 2021
DARK RED BANG SUE - RANGSIT 26.3 8 2021
DARK RED BANG SUE – HUA LUM HONG 6.5 5 2020
LIGHT REDBANG SUE – PHAYATHAI – MAKKASAN – HUAMAK
19.0 9 2020
LIGHT RED BANG SUE – TALING CHAN 15.0 4 2021
PURPLE(SOUTHERN)
TAO POON – RAT BURANA 23.6 17 2022
Advertising: Transit MediaBTS is well positioned to secure additional 133.7km.
17
TOTAL DISTANCE: 262.7KM
TOTAL STATION: 180
BEARING – SAMUT PRAKARN12.6km
MO CHIT – SAPHAN MAI – KHU KHOT18.2km
WATCHARAPHON – THONG LO16.3km
LAD PRAO – SAM RONG30.4km
BANG NA – SUVARNABHUMI18.3Km
KHAE RAI – MIN BURI34.5km
BANG WA - BOROMMARATCHACHONNANI7.0km
Source: MRTA & Systra MVA (Thailand)Note: Pink, Yellow, Grey and LRT’s ridership is based on Systra MVA
Secured by BTSC Under negotiation
BTS Other
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
Advertising: Transit Media Solid growth opportunities from BTS Rail Mass Transit Expansion
18
TOTAL OF 836 TRAINS CAPACITY TOTAL OF 147 STATIONS CAPACITY
2017/18 2022/23 E
CORE + EXTENSION 208 236
GREEN (SOUTHERN) NONE 60
GREEN (NORTHERN) NONE 84
PINK NONE 168
YELLOW NONE 120
GREEN (WESTERN) NONE 32
LRT NONE 64
GREY (PHASE I) NONE 72
TOTAL 208 836
2017/18 2022/23 E
CORE + EXTENSION 30 34
GREEN (SOUTHERN) NONE 9
GREEN (NORTHERN) NONE 16
PINK NONE 30
YELLOW NONE 23
GREEN (WESTERN) NONE 6
LRT NONE 14
GREY (PHASE I) NONE 15
TOTAL 30 147
4.0X EXPECTED INCREASE IN BTS TRAIN CAPACITY 4.9X EXPECTED INCREASE IN BTS STATION CAPACITY
208 236296
380
668
836
0
100
200
300
400
500
600
700
800
900
17/18 (A) 18/19 (E) 19/20 (E) 20/21 (E) 21/22 (E) 22/23 (E)
Secured668 carriages
UnderNegotiation168 carriages
+4.0x
30 3043
59
112
147
0
20
40
60
80
100
120
140
160
17/18 (A) 18/19 (E) 19/20 (E) 20/21 (E) 21/22 (E) 22/23 (E)
Secured108 stations
UnderNegotiation39 stations
+4.9x
Current Green South Green North Pink Yellow LRT Grey (Phase I) Green West
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
636 732 725
622 694 735
932
2011 2012 2013 2014 2015 2016 2017
Advertising: Outdoor MediaNo.2 in Outdoor Media
19
MACO’S PRODUCTS
I. BILLBOARD
II. STREET FURNITURE
III. SYSTEM INTEGRATION AND DIGITAL SERVICES
INTERNATIONAL NETWORK
INVESTMENT & ACCOUNTING METHOD
OUTDOOR MEDIA PROFILE
KEY FINANCIAL HIGHLIGHT
Investment: 31.7% in Master Ad Plc (MACO; a listed in SET)Accounting Method: Consolidation
MACO’s revenue (THB mn)
DOMESTIC NETWORK
2017/18Revenue Contribution
24.3%
BKK & Vicinities 250 panelsNationwide 975 panelsCBD LED 35 screensLCD screen 250 screensStreet furniture 494 panels under 23 BTS Sky Train stations,
19 major flyovers bridges
• Billboard and street furniture covering all provinces in Thailand
• Exclusive rights on media and advertising management MRT SBK line 10 years in MalaysiaKLIA terminal 1&2 10 years in MalaysiaMRT North-South line 20 years in Indonesia
• System integrator and digital services provider in Hongkong
• System integrator and digital services provider in Thailand
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
Advertising: Outdoor Media Growth drivers from existing media and acquisition opportunity
20
Existing Network Target 2018
LED SCREEN IN UPCOUNTRY (HATYAI PROVINCE) MEDIA IN MALAYSIA
KEY GROWTH AND DEVELOPMENT
2.INTERNATIONAL MARKET EXPANSION
Invest in additional potential companies in Malaysia within 2018 by establishing a strategic alliance with a strong local partners.
Outdoor : 10 panelsTransit : 2 MRT lineAirport : 3 terminals
Expand media coverage in Malaysia and Indonesia
3.STRATEGIC PARTNERSHIP
Strengthen alliance and partnership network to
build our competitive advantage 1-2 additional M&A
After combined with Multi Sign & Comass, MACO now have 30% market share in
outdoor media
1.DIGITISATIONTo convert static media to digital media in potential areas in order to reach customers’ need and gain more interaction with audiences.
100%static
To have 50 digital screens in our portfolio
21 screensIn 2017
50 screensIn 2018
4.ADAPTIVE MEDIA CAMPAIGN
Create value added media through Rabbit’s data driven
Multi-platform Big Data
MACO VGIMulti SignCo-Mass
RABBITTransadRoctec
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
No. of location 177 office buildings
Digital Media 1,374 screens
Viewer reach >500,000 people/day
Advertising: Office Building & Residential MediaNo.1 in Office Building and Residential Media
21
OFFICE BUILDING AND RESIDENTIAL MEDIA PROFILE OUR PRODUCTS
• Exclusive rights to manage advertising space in office buildings throughout Bangkok CBD:-
RIGHTS & NETWORK
• Office buildings: 3-5 years• Residential buildings: 3 years
LENGTH OF CONTRACT
• Office buildings: Revenue sharing & fixed rates• Residential buildings: Revenue sharing
CONCESSION FEE
KEY FINANCIAL HIGHLIGHTS
• Exclusive sale agent for ARTISTA media:-No. of location 314 residential buildingsDigital Media 754 screens
Viewer reach >220,000 people/day
19
76 79
145 149 163201
227 238
2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18
I. MEDIA INSIDE ELEVATORS AND OFFICE BUILDING AREAS
II. MEDIA INSIDE ELEVATORS AND RESIDENTIAL BUILDING AREAS
REVENUE CAGR (8 YRS) : 37.2%
VGI bundled office building networks and sold in package. The sale strategy has proven to be successful as evidence in historical revenue record.
2017/18Revenue Contribution
8.6%
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
-
50
100
150
200
250
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F
CBD ('000 sq.m.) Non CBD ('000 sq.m.)
• Working people and Family• Middle Income• Grade B residential buildings in Bangkok
• White collar workers• Middle – High Income• Grade A& B office buildings in Bangkok
• Grade C office and residential buildings• Middle Income• Upcountry market
Advertising: Office Building & Residential MediaUpside from our existing office assets base and new office & residential supply
22
NEW OFFICE SUPPLY IN BANGKOK
Expected of 583,700 sq.m. new office supply during 2018 – 2020
TO DOMINATE OFFICE BUILDING MARKET IN BANGKOK
Our network is currently concentrated in CBD
WELL-POSITIONED TO SECURE PARTNER’S REMAINING CONDO.
Expand the media coverage through all partner’s condominiums comprising of LPN, AP and Grand U as well as new partners
CAPTURING ALL CONSUMER PROFILE INCOME AND GEOGRAPHIC
Expand our viewer based by tapping into Grade C and upcountry market
Office Building
Residential
TO BE CAPTURED
VGI’s office building network
Bangkok CBD
Potential buildings
50%
50%
Total 439 Buildings
ARTISTA’s network
Source: Artista Media
583,700 sq.m.
Source: CB Richard Ellis (Thailand) Co., Ltd.
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
39 42 45 49 50 43 49 57 61 7598
122137 148
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Strong growth is expected mainly driven by an increasing in air traffic which will directly facilitating Aero Media’s performance.
HISTORICAL NUMBER OF PASSGENGERS
Source: Airport of Thailand PLC and Department of Airport, Thailand
AERO MEDIA’S PRODUCTSAVIATION MEDIA PROFILE
No. of location 15 airportsDigital Media 361 LEDs screensStatic Media 57 jet bridges
2,500 trolleys77 billboards
Media on plane 31 planes of Thai Lion Air15 planes of Air Asia20 planes of Nok Air4 planes of Nok Scoot Air
Website management All websites of AOT airports
RIGHTS & NETWORK
• Rights to manage advertising space across 14 airports in Thailand, and 1 airport in Myanmar
INVESTMENT & ACCOUNTING METHOD
Investment: 30.0% in Aero Media Group Co., LtdAccounting Method: Equity sharing
• 3 – 5 years on average
LENGTH OF CONTRACT
13YRS CAGR: 10.7%
I. LEDS SCREEN
III. JET BRIDGES
IV. TROLLEYS V. WEBSITE MANAGEMENT
Advertising: Aviation MediaNo. 2 in Aviation Media
23
II. MEDIA ON PLANE
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
Advertising: Activation MediaNo. 1 in Thailand
24
ACTIVATION MEDIA PROFILE
RIGHT AND NETWORK
• Right to manage the entire process of demonstration service in a thousands of locations nationwide.
INVESTMENT & ACCOUNTING METHOD
Investment: 40.0% in Demo Power (Thailand)Accounting Method: Equity sharing
DEMO POWER SERVICES, PARTNERS AND BRANDS
Non-exclusivity location: > 650 stores
Exclusivity locations: > 360 stores
I. SERVICES
II. BUSINESS PARTNERS
III. BRANDS
No. of location >1,000 stores
Audience interaction >40mn people/ year
Consumer journey Retail (Supermarkets & Hypermarkets)
Transit (BTS & MRT)
Work (Offices, Factories and Exhibitions)
Leisure (Malls & Cinemas)
Demo Power is the largest trial and demonstration service company in Thailand, covering a nationwide network with more than 10 years experience in demonstration business.
UPSIDE: ADDITIONAL CONSUMER INTERACTION (PEOPLE/DAY)
Potential expansion on VGI’s existing network both commercial space on BTS stations and office buildings
>110,000 >100,000
>740,000
>800,000
Demo Power Demo Power + Upside from VGI
15.0X increased
BTS
Office Building
Demo Power
>1,600,000
Section 4.1: Advertising
Prepared by Investor Relations DepartmentVGI Global Media Plc
PaymentOffline and Online Payment
25
OFFLINE PAYMENT: RABBIT CARD
INVESTMENT & ACCOUNTING METHOD
Investment: 90.0% in Bangkok Smart Card System (BSS)Accounting Method: Consolidation
PAYMENT PRODUCTS
I. RABBIT CARD
II. RABBIT LINE PAY
A contactless smart card to make electronic payments across Bangkok’s mass transit network and participating brick-and-mortar merchants.
A mobile e-wallet solution embedded in the leading chat messenger application.
Current 2020
Rabbit Cards 9.8mn >15.0mn
Retailer Points > 6,400 >10,000
Current 2020Line Users 45.0mn >55.0mn
Rabbit Line Pay Users 4.5mn >10.0mn
Online Merchants > 1,000 >1,500
CURRENT VS FUTURE’S RIGHT AND NETWORK
ONLINE PAYMENT: RABBIT LINE PAY
INVESTMENT & ACCOUNTING METHOD
Investment: 24.0% in Rabbit Line Pay1
Accounting Method: Equity sharing
CURRENT VS FUTURE’S RIGHT AND NETWORK
1 The JV between Rabbit Pay System 50% and other 50% held by 1) 24.99% held by LINE Biz+ Pte. Ltd. 2) 25.01% held by LINE Company (Thailand)
Section 4.2: Payment
Prepared by Investor Relations DepartmentVGI Global Media Plc
PaymentDigital Services Business
26
ONLINE INSURANCE BROKER SERVICE PRODUCTS
I. ONLINE INSURANCE BROKERInsurance aggregator services on Rabbit Finance website and also a licensed broker for insurance products.
INVESTMENT & ACCOUNTING METHOD
Investment: 27% in Rabbit Internet (RI)Accounting Method: Consolidation1
1 BSSH can consolidate RI financial performance as they invested 25% in equity and 30% in convertible loan.
CURRENT VS FUTURE’S SERVICE AND NETWORK
• Rabbit offers personal insurance comprised of Car, Life, Health and Travel insurance
MICRO LOAN THROUGH THE JOINT VENTURE WITH AEON
INVESTMENT & ACCOUNTING METHOD
Investment: 46% in ATSAccounting Method: Equity sharing
CURRENT VS FUTURE’S SERVICE AND NETWORK
• Rabbit offers micro loans through its partnership with AEON
II. AEON RABBIT MEMBER CARD
Insurance companies in-services
Current 2020
Outstanding Loan >THB 1,529mn >THB 4,000mn
Section 4.2: Payment
Prepared by Investor Relations DepartmentVGI Global Media Plc
LogisticsParcel Delivery Services
DELIVERY SERVICES PORTFOLIO SERVICES PRODUCTS
INVESTMENT & ACCOUNTING METHOD
Investment: 23% in Kerry ExpressAccounting Method: Equity Sharing
SERVICES CHANNEL
Kerry is the No. 1 parcel delivery services in Thailand, delivering more than 1,000,000 parcels per day and has more than 4,000 retail service points nationwide.
B2B delivering parcels from company to various places such as financial institutions, law firm, retail shops and etc.
B2C delivering parcels from e-market place to the individual
shoppers
C2C delivering letters and parcels from online retailers to individual consumers
• Deliver more than 1,000,000 parcels per day
• 900 distribution centers
• 700 parcel shops in Bangkok, Central and East
• 4,000 retail service points at alliance shops such as
NETWORK
Section 4.3: Logistics 27
Prepared by Investor Relations DepartmentVGI Global Media Plc
LogisticsKerry Express’s six-year milestones
28
20128,000 packages shipped per day
30DCs in ThailandEmployed 200 people
201315,000 packages shipped per day
56DCs in ThailandEmployed 300 people
First parcel shop in Asok
201429,000 packages shipped per day
80DCs in ThailandEmployed 400 people
10 parcel shops in Bangkok
2016150,000 packages shipped per day
230DCs in ThailandEmployed 2,500 people
90 parcel shops in Bangkok, Central and East
20181,000,000 packages shipped per day
900DCs in ThailandEmployed 16,000 people
700 parcel shops in Bangkok, Central and East4,000 retail service points nationwide
Section 4.3: Logistics
201575,000 packages shipped per day
200DCs in ThailandEmployed 1,400 people
35 parcel shops in Bangkok
Prepared by Investor Relations DepartmentVGI Global Media Plc
Agenda
29
Section 1 Company at a Glance 4
Section 2 Strategic Direction 8
Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12
Section 4 Business Profile by Segment and Potential Upsides
Section 4.1 Advertising 15
Section 4.2 Payment 25
Section 4.3 Logistics 27
Section 5 O2O Showcases 30
Section 6 2017/18 Financial Performance 34
Section 7 2Q 2018/19 Financial in More Detail & Business Update 36
Appendices
Prepared by Investor Relations DepartmentVGI Global Media Plc
O2O ShowcasesRight audience, at the right time, at every touchpoint of their journey
30
Walking pass by McDonald’s Advertising
Out-of-Home and Online media syncronisation
McDonald's Promotion on BillboardBesides BTS, we have other OOH media to reach wider audience
McDonald’s Promotion on FacebookOur big data enables the target
audiences to see the same advertisement both OOH and Online
Being notified McDonald's Promotion via LINEDirectly push to LINE Official Account users nearby the brand’s beacon.
Grabbing Meal at the shop on BTS station, Paying by Rabbit LINE Pay.
Payment made easy by Rabbit LINE Pay.
Going to work via BTSGet behavioral data from Rabbit Card.
Section 5: O2O Showcases
Prepared by Investor Relations DepartmentVGI Global Media Plc
O2O ShowcasesOver 1,000 registrations, targeted with our insurance and credit card data
31
Objective:• To promote new Citi bank’s credit card
Communication channels:• Offline: OOH advertising, activation booth and event• Online: Facebook, programmatic, email and SEM bridged by
Rabbit Data
Target audience:• Occupation: Office workers • Gender: Male and Female• Age: 25 – 55 years old• Income: Medium to high• Lifestyle: Travel oversea and shopping
Results:
STATION SPONSORSHIP CAMPAIGN
5,000 - 10,000 leads per month
1,100 Citi credit card registered in 2 months
Highest conversion rate among all lead gen providers
Section 5: O2O Showcases
Prepared by Investor Relations DepartmentVGI Global Media Plc
O2O ShowcasesCombining physical and digital channels drives higher conversion rate
32
Objective:• To encourage activity participation by targeting BTS passengers
Communication channels:• Offline: OOH advertising and activation booth • Online: Facebook and programmatic bridged by Rabbit Data
Target audience:• Gender: Male and Female• Age: 18 – 44 years old
Results after 21 days campaign:
OFFLINE-TO-ONLINE (O2O) CAMPAIGN
Delivered 1,500 leads
Achieved 12,000 clicks
O2O conversion rate 12.9%
Section 5: O2O Showcases
Prepared by Investor Relations DepartmentVGI Global Media Plc
O2O ShowcasesDelivering marketing solutions synergy through logistics platform
33
Retarget high prospect customers online
Locate the right target audience and drive product awareness with
100% viewability
Encourage trial at the perfect at home environment
Obtain product user feedback for actionable marketing insights(3-5% of conversion rate vs. 0.5% of market rate)
SMART SAMPLING THROUGH KERRY EXPRESS
Delivering more than 110,000 smart samplings since its soft launch in end of August 2018.
Section 5: O2O Showcases
Prepared by Investor Relations DepartmentVGI Global Media Plc
Agenda
34
Section 1 Company at a Glance 4
Section 2 Strategic Direction 8
Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12
Section 4 Business Profile by Segment and Potential Upsides
Section 4.1 Advertising 15
Section 4.2 Payment 25
Section 4.3 Logistics 27
Section 5 O2O Showcases 30
Section 6 2017/18 Financial Performance 35
Section 7 2Q 2018/19 Financial in More Detail & Business Update 37
Appendices
Prepared by Investor Relations DepartmentVGI Global Media Plc
VGI Financial Performance
35
2014/15 2015/16(restated)
12016/17 2017/18 YoY (%)
INCOME STATEMENT (THB mn)
Operating Revenue 2,963 2,341 3,052 3,936 29.0%
Transit Media 1,805 1,793 1,865 2,262 21.3%
Outdoor Media - - 550 958 74.3%
Office Building & Other Media 189 240 266 338 27.3%
Modern Trade Media2 969 50 - - -
Digital Services - 258 371 378 1.9%
Cost of sales 1,325 881 1,269 1,535 21.0%
Gross profit 1,638 1,461 1,783 2,401 34.7%
EBITDA 1,225 1,391 1,356 1,691 24.6%
Net profit 838 941 826 846 2.4%BALANCE SHEET (THB mn)
Total assets 3,286 5,563 7,985 9,617
Total liabilities 1,457 1,728 4,880 3,699
Interest bearing debt 762 446 2,957 1,763
Total shareholders' equity 1,829 3,835 3,105 5,917CASH FLOW (THB mn)
Cash from operating activities 1,070 732 957 1,272
Capital expenditures (521) (207) (311) (549)PER SHARE DATA (THB/ share)
Earnings per share 0.1 0.1 0.1 0.1
Dividend per share 0.2 0.1 0.1 0.1
Book value per share 0.3 0.6 0.5KEY RATIOS
Gross profit margin (%) 55.3% 62.4% 58.4% 61.0%
EBITDA margin (%) 41.4% 59.4% 44.5% 43.0%
Net profit margin (%) 28.3% 40.2% 27.1% 21.5%
Debt to equity (times) 0.3x 0.1x 1.0x 0.3x
ROA (%) 27.8% 19.1% 12.2% 9.6%
ROE (%) 44.3% 31.6% 23.8% 26.9%
Section 6: 2017/18 Financial Performance
1The Company restated 2015/16 financial performance after the consolidation of Rabbit Group under the common control basis.2The Company terminated the Modern Trade Media business in 4Q 14/15. Therefore, this business unit will no longer generate revenue from 2Q 15/16 onwards.
TRANSITTHB 2,262mn
57.5%
9.6%
DIGITAL SERVICESTHB 378mn
8.6%
OFFICE & OTHERTHB 338mn
24.3%
OUTDOORTHB 958mn
THB 3,936mn
• Revenue expansion by 29.0% YoY driven by all business segments and synergies from Offline-to-Online (O2O) solutions.
• Better Gross profit margin from operational efficiency and cost management especially in Outdoor media and Digital services segment. (Cost-to-sales ratio decreased to 39.0% from 41.6%).
• EBITDA rose as a result of the substantial improved revenue.
• Adjusted net profit increased by 27.7% YoY mainly due to higher revenue despite 1) an increase in concession fee of Transit media from 5% to 10% and 2) higher interest expenses.
Prepared by Investor Relations DepartmentVGI Global Media Plc
Agenda
36
Section 1 Company at a Glance 4
Section 2 Strategic Direction 8
Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12
Section 4 Business Profile by Segment and Potential Upsides
Section 4.1 Advertising 15
Section 4.2 Payment 25
Section 4.3 Logistics 27
Section 5 O2O Showcases 30
Section 6 2017/18 Financial Performance 35
Section 7 2Q 2018/19 Financial in More Detail & Business Update 37
Appendices
Prepared by Investor Relations DepartmentVGI Global Media Plc
2Q 2018/19 Highlights
37
Revenue of THB 1,208mn
+23.5% YoY
Offline Payment
9.8mn cards
Online Payment
4.5mn Rabbit LinePay users
Micro Loan Services
THB 1,529mn
Logistics
>70,000 smart samplings
Profitability
55.5% Gross profit margin
41.5% EBITDA margin
21.5% Net profit margin
Net Profit of THB 260mn
+28.8% YoY
FINANCIAL PERFORMANCE
KEY OPERATION METRICS
Office
177 office buildings
1,374 digital screens
Outdoor
2,400 billboards
35 digital billboards
AD
Section 7: 2Q 2018/19 Financial in More Detail & Business Update
Prepared by Investor Relations DepartmentVGI Global Media Plc
PROFIT AND LOSS STATEMENT
2Q 2018/19 Overview
38
• Revenue increase by 23.5% YoY mainly driven by 1)encouraging growth in the Out-of-Home media sector and 2) the consolidation of Trans.Ad Group
• Gross profit increased by 13.5% YoY, while its margin decreased to 55.5% due to the higher cost structures from Trans.Ad Group
• EBITDA increased by 12.9% YoY as a result of the continuously positive performance as well as the Group’s strategic expansion.
• Net profit increased by 28.8% YoY due to robust performance and a recognition of a share of profit from Kerry Express
1As shown in financial statement, excluding minority interest.
KEY FACTORS
(THB mn) 2Q 2017/18 1Q 2018/19 2Q 2018/19 QoQ (%) YoY (%)
Operating revenue 978 1,077 1,208 12.2% 23.5%
Cost of sales 387 392 537 37.1% 38.7%
Gross profit 591 685 670 -2.1% 13.5%
EBITDA 444 507 501 -1.2% 12.9%
EBIT 333 384 380 -1.1% 14.1%
Interest expenses 25 15 18 18.6% -27.8%
Taxes 83 82 76 -7.3% -8.6%
Net Profit1 202 261 260 -0.4% 28.8%
Gross profit margin 60.4% 63.6% 55.5%
EBITDA margin 45.4% 47.1% 41.5%
Net profit margin 20.6% 24.3% 21.5%
Note: Trans.Ad Group comprises of 1) Trans.Ad Solutions Company Limited and 2) Roctec Technology Limited.
2Q 2018/19 REVENUE CONTRIBUTION
TRANSITTHB 535mn
44.3%
24.7%
DIGITAL SERVICESTHB 299mn
9.0%
OFFICE & OTHERTHB 109mn
22.0%
OUTDOORTHB 266mn
THB 1,208mn
Section 7: 2Q 2018/19 Financial in More Detail & Business Update
Prepared by Investor Relations DepartmentVGI Global Media Plc
232 265
291 284 266
2Q 3Q 4Q 1Q 2Q
TRANSIT MEDIA REVENUE (THB mn) OFFICE & OTHER MEDIA REVENUE (THB mn)
Revenue by Business Units
39
OUTDOOR MEDIA REVENUE (THB mn) DIGITAL SERVICES REVENUE (THB mn)
+14.4% YoY
87 84 110 80
299
2Q 3Q 4Q 1Q 2Q
+243.6% YoY
576 548 618 620
535
2Q 3Q 4Q 1Q 2Q
-7.2% YoY
2017/18 2018/19
83 81 108
93 109
2Q 3Q 4Q 1Q 2Q
+31.7% YoY
Higher utilisation rate as well as price increases.
Driven by the ongoing revenue recognition of 35 digital screens. Driven by the consolidation of Trans.Ad Group by MACO and the increase in project management fees of Rabbit Group.
A decline mainly due to expiry O2O contracts (normal budget-end period). Expected normalised booking levels in remaining quarters.
2017/18 2018/19
2017/18 2018/19 2017/18 2018/19
Section 7: 2Q 2018/19 Financial in More Detail & Business Update
Prepared by Investor Relations DepartmentVGI Global Media Plc
Balance Sheet & Cash Flow
40
ASSETS BREAKDOWN (THB mn)
CASH FLOW (THB mn)
LIABILITY & EQUITY BREAKDOWN (THB mn)
5,927
12,5413,705
7,582
31 MAR 18 30 SEP 18
37.7%
62.3% Non-current assets
Current assets
38.5%
61.5%
20,123
9,632
Actual Target
1H 18/19 FY 18/19
Transit Media 72 300
Office & Others Media 26 100
Total VGI 98 400
Outdoor Media 40 450
Digital Services 23 150
Total VGI, MACO & Rabbit 161 1,000
CAPEX (THB mn)
IB Debt THB 1,763mn THB 1,629mn
D/E ratio 0.3x 0.1x
Equity
5,926
16,0881,658
1,647
2,048
2,388
31 MAR 18 30 SEP 18
Non-current liabilities Current liabilities
61.5%
17.2%21.3% 79.9%
8.2%11.9%
20,123
9,632
*After tax and net tax refund (THB -153mn) and interest expense (THB -33mn)**Included translation adjustment of (THB 2.3mn)
757
Beginning cash(Restated)
(31/3/2018)
CFO CFI CFF Ending cash(30/9/2018)
547*8,657**
(7,329)
CFI CFF
2,632
Cash paid for investment in Kerry Express of THB 5,016mn
Cash received from proceeds from VGI-W1 of THB 8,615mn
Section 7: 2Q 2018/19 Financial in More Detail & Business Update
Prepared by Investor Relations DepartmentVGI Global Media Plc
AdvertisingEmpowering digital strategy through strategic partnership
41Section 2: Key Business and Strategic
TRANS.AD GROUP’S BUSINESS OVERVIEW and STRUCTURE
81.65%
89%
100%
MACO
Eye on Ads
Trans.Ad
Roctec
Multimedia display systems provider
Provider of multimedia & communications systems, system integrations and total network infrastructure
Trans.Ad Group LCD in Stations and Buildings
Platform Screen Door
Control System & Media Management
Passenger Information
LED outdoor
Prepared by Investor Relations DepartmentVGI Global Media Plc
AdvertisingEmpowering digital strategy through strategic partnership
42
Hong KongMTR
Hong Kong International Airport
SingaporeSMTR
TRANS.AD GROUP’S KEY CLIENTS
Section 2: Key Business and Strategic
ENTERPRISE PORTFOLIOS SAMPLE GOVERNMENT AND EDUCATIONAL PORTFOLIOS SAMPLE
Prepared by Investor Relations DepartmentVGI Global Media Plc
AdvertisingDigital transformation project
43Section 2: Key Business and Strategic
No. of screen: 5 screens
Where: Chong Non Si
When: 3Q 2018/19
No. of screen: 35 screens
Where: Chong Nonsi, Phrom Phong, Sala Dang and Asok
When: 2Q 2019/20
PHASE 1 PHASE 2
Prepared by Investor Relations DepartmentVGI Global Media Plc
PaymentRevamping ‘More-tap’ to the ‘Wallet’ page in LINE application
• More steps to reach
• Less features
• One click to ‘Wallet’ feature in LINE app.
• Add BTS function to provide a smarter and easier journey on BTS.
So easy!
USER INTERFACE – OLD VERSION USER INTERFACE – NEW VERSION
Section 2: Key Business and Strategic 44
Prepared by Investor Relations DepartmentVGI Global Media Plc
2.9 3.1 3.2
3.4
3.8
4.24.5
5.3
Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Mar-19
PaymentAccelerate growth in user base
45
Rabbit Card circulation reached 9.8mn cards. Nearly achieving its full-year target of 10.5mn cards.
Rabbit LinePay serves more than 4.5mn users, an increase of 55.2% in less than 6 months.
9.09.1 9.2
9.39.4
9.69.8
10.5
Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Mar-19
FYTarget
FYTarget
Section 2: Key Business and Strategic
RABBIT CARD RABBIT LINEPAY
+9.3%+55.2%
partnership with AIS Single e-wallet with BTS and Rabbit Card
Prepared by Investor Relations DepartmentVGI Global Media Plc
Agenda
46
Section 1 Company at a Glance 4
Section 2 Strategic Direction 8
Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12
Section 4 Business Profile by Segment and Potential Upsides
Section 4.1 Advertising 15
Section 4.2 Payment 25
Section 4.3 Logistics 27
Section 5 O2O Showcases 30
Section 6 2017/18 Financial Performance 35
Section 7 2Q 2018/19 Financial in More Detail & Business Update 37
Appendices
Prepared by Investor Relations DepartmentVGI Global Media Plc
Company Structure
47
BTSG
VGI
• 41.0% Kanjanapas Family• 59.0% BTSG’s Minorities
BTSC97.5%
25.7% 45.0%
Appendix: Company Structure
Public
29.3%
VGI Advertising
Media
100%
888 Media
100%
POV
100%
MACO
30.4%
Aero Media
30%
BSS
90%
BSSH
90%
Demo Power
40%
Group Work
VGM
100%
The ICON VGI
25%
SupremoMedia
PBSB
25%
20%
25%
Kerry Express
(Thailand)
23%
As of September 2018
Prepared by Investor Relations DepartmentVGI Global Media Plc
52.2%
10.5%
10.5%
1.8%
20%
49%
30%
80%
51%
49%
49%
33.3%
33.3%
33.3%
51%
51%
Rabbit’s Company Structure
48
Rabbit Internet
Rabbit Pay System
ATS
Rabbit Insurance Broker
ASK Direct Group
Theory
Mavericks
Som-O 1984
Mr. Pongpaichayont T.
Kerry Logistics(Thailand)
AEONTS
Rabbit Line Pay
BTSG
BTSC
VGI
BSS Bangkok Bank97.5%
25.7% 90%
90% 10%
10%
BSSH
LINE Biz + PteLINE Company (Thailand)
AIS/ mPay
Appendix: Rabbit’s Company Structure
45.0%
As of September 2018
Prepared by Investor Relations DepartmentVGI Global Media Plc
Organisation Structure
49
Board of Directors
Company Secretary
Audit Committee
Executive Committee
Nomination and Remuneration
Committee
Internal Audit Office
Chief Operating Officer
Chief Sales OfficerChief Technology
OfficerChief Financial
OfficerChief Legal and
Compliance Officer
Advisory Board
Corporate GovernanceCommittee
Appendix: Organisation Structure
Chief Executive Officer
Prepared by Investor Relations DepartmentVGI Global Media Plc
Transit Media Products
50
I. TRAIN
II. STATION III. MERCHANDISING
Appendix: Transit Media Products
Prepared by Investor Relations DepartmentVGI Global Media Plc
Transit Media ProductsStation Sponsorship Campaign
51Appendix: Transit Media Products
Prepared by Investor Relations DepartmentVGI Global Media Plc
Office & Residential Media Products
52
I. MEDIA INSIDE ELEVATORS AND OFFICE BUILDING AREA
II. MEDIA INSIDE ELEVATORS AND RESIDENTIAL BUILDING AREA
Appendix: Office & Residential Media Products
Prepared by Investor Relations DepartmentVGI Global Media Plc
Outdoor Media Products
53
II. STREET FURNITURE III. CREATIVE PRODUCTION
I. BILLBOARD
Appendix: Outdoor Media Products
Prepared by Investor Relations DepartmentVGI Global Media Plc
Aviation Media Products
54
I. LED SCREEN
II. JET BRIDGES III. WEBSITE MANAGEMENT
Appendix: Aviation Media Products
Prepared by Investor Relations DepartmentVGI Global Media Plc
Activation Services
55Appendix: Activation Media Services
Prepared by Investor Relations DepartmentVGI Global Media Plc
VGM Business Overview
56
Outdoor OtherAirportTransit Cinema & Retail
Titanium Compass (TCSB)PT Avabanindo Perkasa (AVA)
Meru Utama (MUSB) Focus Media (Network) (FMN)Point cast (M) (PCSB)
Redberry Outdoors (RBO)Ten Plus Recourses (TPSB)
Puncak Berlian (PBSB)Redberry Media (RMSB)Nova Berry (NBSB)
AVA: Holds 20-year advertising concession for MRT system in Indonesia (North – South Line)
MUSB:Holds 7 years concession for manage advertising space in KL International airport 1 and 2 and SenalAirport
PCSB: Operates the media at payment cashiers in major hypermarket stores throughout Malaysia
RBO: Operates media on buses in KL and Penang and manage billboards on KAJANG SILK Highway and Duta Ulu-Kelang Expressway
PBSB: Investment Holding CompanyRMSB: Investment Holding Companyand MOF License
HolderNBSB: No operation at the present
MUSB:354 static panels3 Aero trains114 panels of link bridge158 panels of PBL285 Digital screen
TCSB:31 MRT stations58 trains 232 carriages
AVA:13 MRT stations16 trains 96 carriages
En
tity
Bu
sin
es
s/C
on
ce
ssio
nN
etw
ork
FMN:2 large LED screens37 cinema locations 302 cinema halls
PCSB:52 supermarkets 875 screens80 office buildings
RBO:11 static billboards 918 buses in KL and Penang14 KTM train stations
TPSB:45 street bunting panels
FMN: Operates advertising in 3 cinema chains and digital media business in office building
TCSB: Holds 10-year advertising concession in the MRT SBK Line in Malaysia
TPSB: Manages digital billboard (E-bunting) in Malaka state, Malaysia
Appendix: VGM Business Overview
Prepared by Investor Relations DepartmentVGI Global Media Plc
VGM Shareholding Structure
57
PRE-TRANSACTION POST-TRANSACTION
VGI
VGM
PBSB
TCSB FMN RBO PCSB
MUSB RMSB TPSB NBSB
SenandungSonik
Tea FM
75.0%
25.0%
40.0% 83.86% 89.98% 100.0%
74.81% 49.0% 90.0% 100.0%
50.0% 30.0%
30.0%
25.1%
AVA
25.0%10.0%
MACO
25.0%
*Transit Media in Indonesia
VGI
VGM
PBSB
TCSB FMN RBO PCSB
MUSB RMSB TPSB NBSB
SenandungSonik
Tea FM
100.0%
25.0%
40.0% 83.86% 89.98% 100.0%
74.81% 49.0% 90.0% 100.0%
50.0% 30.0%
19.0%
11.0%1
2
3
1. PBSB holds 11% of TCSB for and on behalf of VGM under the Declaration of Trust2. Prior to transaction, VGI will transfer its beneficial interest in 19% of TCSB to VGM3. Prior to transaction, VGM must obtain 10% of AVA and PBSB must obtain 25% of AVA
Appendix: VGM Shareholding Structure
Prepared by Investor Relations DepartmentVGI Global Media Plc
Bangkok Rail Mass Transit Master Plan515km* by 2029, 24% share of mass transit commute by 2037
58
Sources: Office of Transport and Traffic Policy and Planning, Bangkok Metropolitan Administration
Appendix: Bangkok Rail Mass Transit Master Plan
Seoul 51% Hong Kong 49% Tokyo 48% Singapore 46% Guangzhou 17% Bangkok 6%
RAIL MASS TRANSITMARKET SHARE
Source: OTP, Singapore’s Land Transport Authority, Hong Kong’s Transport Department, MTR Corporation Limited, SMRT Corporation Limited, Japan Statistic Bureau
Tokyo 42.0 Singapore 39.4 Hong Kong 34.9 Bangkok 10.2
RAIL TRACK LENGTH PERVASION(per million population)
Source: United Nations Statistics Division, BTSC, BMCL, MTR Corporation Limited, SMRT Corporation Limited, official websites of rail mass transit system in major cities
Prepared by Investor Relations DepartmentVGI Global Media Plc
Malaysian Mass Transit Map
59
SBK Line
Operated
Line
Appendix: Malaysia Mass Transit Map
Prepared by Investor Relations DepartmentVGI Global Media Plc
VGI and MACO Top20 Customer Profile
60
VGI: CUSTOMER TYPE
MACO: CUSTOMER TYPE
77.4%
22.6%
Agency
Direct customer
70.0%
30.0%
VGI: TOP BRAND
MACO: TOP BRAND
Appendix: VGI and MACO Top20 Customer Profile
Agency
Direct customer
Prepared by Investor Relations DepartmentVGI Global Media Plc
Warrant Issuance and Stock Dividend
61
VGI-W1: KEY TERMS & CONDITIONS
STOCK DIVIDEND
TICKER VGI-W1
TERMS 4 Years
EX-RIGHTS DATE 9 July 2014
ISSUANCE DATE 1 Aug 2014
EXPIRATION DATE 1 Aug 2018
EXERCISE PERIOD Quarterly basis
WARRANT PRICE Free
ALLOCATIONTo existing shareholders at the ratio of 4 VGI existing shares : 1 VGI-W1
NO. OF WARRANTS Up to 1,715,572,328 Units
EXERCISE RATIO 1 VGI-W1 to 1 ordinary share of VGI
EXERCISE PRICE THB 7.00
Expected maximum proceeds THB 12,011mn
Total amount from proceeds THB 6,818mn
1:1 STOCK DIVIDEND (INCREASING CAPITAL)
No. of allocated shares 3,431,975,575 shares
Total shares after increasing capital 6,863,978,450 shares
STOCK AND CASH DIVIDEND
Ratio of stock dividend payment 1 VGI existing share: 1 stock dividend or at rate of
THB 0.10 per share
Cash dividend payment THB 0.011111111111 per share
XD Date 17 Mar 2015
Payment Date 31 Mar 2015
Appendix: Warrant Issuance and Stock Dividend
VGI-W2: KEY TERMS & CONDITIONS
TICKER VGI-W2
TERMS 4 Years
EX-RIGHTS DATE 14 Aug 2018
ISSUANCE DATE 11 Sep 2018
EXPIRATION DATE 10 Sep 2018
EXERCISE PERIOD Quarterly basis
WARRANT PRICE Free
ALLOCATIONTo existing shareholders at the ratio of 5 VGI existing shares : 1 VGI-W2
NO. OF WARRANTS 1,711,334,815 units
EXERCISE RATIO 1 VGI-W2 to 1 ordinary share of VGI
EXERCISE PRICE THB 10.00
Expected maximum proceeds THB 17,113mn
Prepared by Investor Relations DepartmentVGI Global Media Plc
Timeline of Upcoming Transit Lines
62Appendix: Timeline of Upcoming Transit Lines