INVESTOR RELATIONS QUARTERLY REVIEW: ISSUE 14
BTS GROUP HOLDINGS PLC th
2Q 13/14
(3 months ending 30 SEP 2013) (Ended June 2010)
SUMMARY COVERAGE AND ANALYST RECOMMENDATIONS Company Name KTZMICO Securities BofA Merril Lynch Asia Plus Securities IV Global Bualuang Securities SCB Securities Trinity Securities Credit Suisse UBS CIMB Securities Krungsri Securities JP Morgan TISCO Kim Eng Securities RHB OSK Securities Thanachart Securities Finansia Syrus DBS Vickers Securities Summary
Recommenda tion
Target Price
Report Date
Sales*
Buy Neutral Buy Buy Buy Buy Buy Buy Buy Buy Buy Buy Buy Buy Buy Buy Buy Buy
9.80 9.40 12.00 11.50 11.00 10.30 10.80 11.30 9.50 10.50 10.30 9.50 9.40 12.30 10.20 9.70 10.50 11.34 Target Price
31-Oct-13 28-Oct-13 14-Oct-13 4-Oct-13 4-Oct-13 26-Sep-13 20-Sep-13 16-Sep-13 6-Sep-13 29-Aug-13 28-Aug-13 26-Aug-13 13-Aug-13 6-Aug-13 9-Jul-13 4-Jul-13 30-May-13 2-May-13
8,737 8,523 8,668 6,533 8,701 7,635 6,874 9,905 8,122 6,771 8,124 6,910 7,601 5,449 7,715 8,347 8,541 6,279 Sales*
Average Max Min Source: Broker reports, Bloomberg, SETTrade
10.52 12.30 9.40
7,746 9,905 5,449
EBITDA* Net Profit* 2013/14E (THB mn) 3,021 2,386 3,465 2,627 4,091 1,979 2,034 1,987 3,090 2,526 4,602 2,700 2,304 2,204 3,870 2,872 2,966 2,517 2,629 2,794 4,547 2,635 3,839 2,286 3,777 2,838 2,560 2,530 5,171 2,234 3,933 3,071 5,214 2,208 4,029 2,573 EBITDA* Net Profit* 2013/14E (THB mn) 3,619 2,498 5,214 3,071 2,034 1,979
Analyst Name Raenoo Bhandasukdi Kaseedit Choonnawat Suwat Wattanapornprom Polasit Tanpoonkiat Suppata Srisuk Sirima Dissara Duladeth Bik Warayut Luangmettakul Eric Lin Praphan Yukhunthorntham Sittidath Prasertrungruang Avin Sony Monchai Mokaranuraksa Jaroonpan Wattanawong Thailand Research Team Saksid Phadthananarak Amnart Ngosawang Sombat Agekavanpattana
*Excludes non-recurring items
SHAREHOLDER CONTACT AND REFERENCE INFORMATION Shareholder Services:
Investor Relations:
For any matters relating to your shareholding such as transfer of shares, change of name and address and loss of share certificates should be addressed in writing to the Registrar:
For enquiries from Institutional investors and securities analysts, please contact: Investor Relations Department, BTS Group Holdings Plc., 15F TST Tower, 21 ViphavadiRangsit Rd, Jompol, Jatujak, Bangkok 10900
The Thailand Securities Depository Co., Ltd. (TSD)
Telephone: Email:
62 The Stock Exchange of Thailand Building, Rachadapisek Road, Klongtoey, Bangkok 10110, Thailand Website: http://www.tsd.co.th Telephone: Facsimile: E-mail:
+66 2 2738525-6 ir@btsgroup.co.th
Financial Calendar: The Quarter Ahead Event End of 3Q 2013/14 3Q 2013/14 Earnings Released Analyst Meeting for 3Q 2013/14
+66 (02) 229 2888 +66 (02) 654 5426 tsdcallcenter@set.or.th
Date 31 December 2013 10 February 2014 13 February 2014
Notes: A
E
B
F
Data as of 6 November 2013. Source: Company and Bloomberg Based on exchange rate of 31.300 as of 6 November 2013 C Assumes no cost of concession payable by VGI to BTSC D Source: Bloomberg, data as of 6 November 2013
Source: BTS Group Holding Public Co.Ltd. as of 11 September 2013 New par value (THB 4.0 per share) and numbers of new outstanding shares are effective since 7 Aug 2012 Source: BTS Group Holding Public Co.Ltd. as of 9 Oct 2013 H Source: Bloomberg, data as of 6 November 2013 G
This document has been prepared and distributed by the Investor Relations Department of BTS Group Holdings Plc. (“BTSG�) solely for information purposes. It does not represent or constitute an offer, invitation, recommendation or solicitation to trade shares in BTSG and should not be relied on as such. Some of the information in this document has not been independently verified, and also includes information made available from public sources and other third party opinion or analyst. BTSG does not monitor or control the content of third party opinion or statements and does not endorse or accept any responsibility for the content or the use of any such opinion or statements. Thus, BTSG assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the information described herein. None of BTSG or any of its agents, or all of their respective affiliates, or representatives shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. All information contained in this document is presented as of the date indicated within, and BTSG assumes no duty to confirm, revise or update the information. Certain statements in this document may be deemed to contain forward-looking statements, including the statements included or incorporated with the words "believe", "anticipate", "estimate", "target", or "hope", or that otherwise relate to objectives, strategies, plans, intentions, beliefs or expectations or that have been constructed as statements as to future performance or events. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time the forward-looking statements are made. Thus, BTSG assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the forward-looking statements. BTSG undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
prepared by Investor Relations department BTS Group Holdings PCL
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