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East Water Performance 2Q2012
Eastern Water Resources Development and Management Public Company Limited
Agenda

•   2H2012 Outlook
•   1H2012 Performance
•   Water Situation
•   Project Update




             Eastern Water Resources Development and Management Public Company Limited
                                                                                         2
2H2012 Outlook
Positive / Negative Factors


   Positive Factors
   • Thailand Board of Investment (BOI) reported that the total investment of those who
      have investment incentive in 1H2012 grew up 34%.
   •  According to The Tourism Authority of Pattaya, revenue from tourism is expected to
      grow up to 7.7 billion in 2012 from 7.3 billion in 2011 and the number of tourists was
      expected to increase from 7 million people per year to 10 million in the next 3 years.
   Negative Factor
   • Due to European economic crisis, the exports fell 15.6% (January - April 2012) and the
      export volume for the year 2012 is expected to grow by only 7-8%
   • Eastern Seaboard may be threatened with drought in 2013 and may cause the higher
      cost for the company



   *Source of Information: The University of Thai Chamber of Commerce
                                  Eastern Water Resources Development and Management Public Company Limited
                                                                                                              3
2H2012 Outlook
Growth of Industrial Estate in Eastern Seaboard

                            Total Investment – Promotion Certified issued by BOI
                 Billion Baht
                    450                                                  408.8            54.3%
                    400
                    350                                                  134.6         +70.4%
                    300                 265
                    250                                                                           Zone3
                                         79
                    200                                                                           Zone2
                                                                         208.5                    Zone1
                    150
                    100                 155.7                                          +33.9%
                     50
                                         30.3
                                                                          65.7        +116.8%
                      0
                                       H1/2011                          H2/2012
                                                                                          Note: Chemical/Plastic/Paper
 **Zone 1: Bangkok/Nakornpathom/ Pathumthani / Samutsakorn / Sumutprakarn
                                                                                          Industry grew by 44% (YOY)
   Zone 2: Rayong / Chachoengsao/ Chonburi/ Ratchaburi/ Phuket/Others
   Zone 3: 58 Remaining Provinces


  *Source of Information: Thailand Board of Investment: BOI
                                       Eastern Water Resources Development and Management Public Company Limited
                                                                                                                         4
2H2012 Outlook


  Sale volume growth 8-9% (YoY %)
  Potential Customer

        Customers                          Expected Volume              Year
                                               Per year
        5 SPP Projects in Hemaraj        10 MCM.                        2015
        PTT Group                        1.5 – 2.7 MCM.                 2015
        IRPC & CP Land                   0. 5 – 1.0 MCM.                2014
        Gateway City                     7.0 – 14.0 MCM.                2016-2017

  New Business (Under Study)
 • Diversification to Utilities/Infrastructure Company
 • Desalination




                                Eastern Water Resources Development and Management Public Company Limited
                                                                                                            5
2H2012 Outlook
CAPEX 2012-2014




                                    Amount                                      Year
          Description                (MB)           2012           2013          2014          2015        2016
 East Water
 Enhancement of water pipeline         500            87            265           148

 Bangpra Project**                     850           302            384

 Tabma Project                        2,735          891           1,131          558            70         85
Total                                 4,085         1,280          1,780          706            70         85


  **CAPEX for Bangpra project have been used in 2011 in amount of 164 million Baht


                               Eastern Water Resources Development and Management Public Company Limited
                                                                                                                  6
สระสำรองนำ้
2H2012 Outlookิ
       ดิบฉะเชงเทรำ          แม่นำบำงปะกง
                                 ้


Raw Water Investment :Water Supply Sourcing

              Bangpakong
              river                                                Water Supply Sourcing            Supply       Investment
                                                                          Projects                  (MCM)           (MB)
     Siam
                                                                 Current Projects
                      Sam Nuk Bok                                1.Bangpra pumping Station           18.0           850
                                                                 2.Tapma                             55.0          2,735
                                                                 Total                               73.0          3,585

Bangpra




                                    Klongyai        Prasae                          Current pipeline
                                                                                    Pipeline on the Construction
              Dok Krai         NPL                                                  RID Pipeline (Completed)
                                                                                    RID Pipeline (On the construction)

                                     Tapma
                                     แม่นำระยอง
                                         ้
                                     Eastern Water Resources Development and Management Public Company Limited
                                                                                                                         7
Agenda

•   2H2012 Outlook
•   1H2012 Performance
•   Water Situation
•   Project Update




             Eastern Water Resources Development and Management Public Company Limited
                                                                                         8
1H2012 Performance
 Financial Summary: 10 Yrs Revenue VS Net Profit



            3,500                                                                                        3,310
                                                                                               3,107
                                                                                      2,878
            3,000
                                                                   2,430    2,502
                                                         2,401
            2,500
                                                2,094
                                      1,899
            2,000                                                                                                  1,856
      MB.




                             1,416                                                                                         Revenue
            1,500
                    1,159
                                                                                                       1,008               Net Profit
            1,000                                                                      808      867

                                                 500      508                571                                   704
                                       441                          441
             500     348      340


               0




*This presentation excluded the extra-ordinary revenue of the Prasae project in 2010, its cost of project sold, and its
profit from the 2010 operating performance
                                               Eastern Water Resources Development and Management Public Company Limited
                                                                                                                                        9
1H2012 Performance
Financial Summary: Product Mix


                                                                                                           Others
                                                                                                            3%
           EASTW’s Total Revenue Breakdown                                                            Tap
                  by Line of Business                                                                Water
                                                                                                     27%
                                                                                                                       Raw
                                                                     * As of June 31, 2012 (6M)
                                                                                                                       Water
                                                                    Total Revenue*= 1,855.81 MB                        70%


                               Raw Water                                                Tap Water
                    Raw Water Breakdown by
                                                                         Tap Water Breakdown by Contracts
                          Customers
                                General
                               Factories                                               Others     Rayong
                                  7%           IEAT                                     22%        21%
                     Private                   37%
                     Estates                                              Chonburi
                      25%                                                   9%                          Sattahip
                                                                                                          20%
                                   Domestic                                     Chacoen      Bangpak
                                     32%                                          gsao         ong
                                                                                  15%          13%
                 Raw Water Revenue*= 1,296.14 MB                              Tap Water Revenue*= 500.03 MB
                                           Eastern Water Resources Development and Management Public Company Limited
* As of June 31, 2012 (1H)                                                                                                     10
1H2012 Performance
Financial Summary: Sale Volume; Raw and Tap Water

                                          Raw water Volume
80                                                                             141                       139.83
                                           69.39       70.44                   140
70   65.72   65.72   63.56     66.51
                                                                               139
60                                                             1.51% q-o-q     138
                                                                               137
50                                                                             136
                                                               7.18% y-o-y     135
40                                                                             134
                                                                               133
30                                                                             132      131.44
20                                                                             131
                                                                               130
10                                                                             129
                                                                               128
0                                                                              127
     Q1/11   Q2/11   Q3/11     Q4/11       Q1/12       Q2/12                             H1/11           H1/12

                                          Tap water Volume
20                                                                              34                       33.52
                               16.32       16.36       17.16
     15.16   15.43   15.76                                      4.89% q-o-q     33
15
                                                                11.21% y-o-y    32
10
                                                                                31       30.59
5
                                                                                30

0                                                                               29
     Q1/11   Q2/11   Q3/11     Q4/11       Q1/12       Q2/12                             H1/11           H1/12
                             Eastern Water Resources Development and Management Public Company Limited
                                                                                                                  11
1H2012 Performance
Raw Water & Tap Water Tariff

     (Bt/ cu.m)
       14

       13            12.28                 12.31      12.42       12.45
             12.07             12.18
       12

       11
                                                                  10.03           Raw Water
       10                                              9.55
              9.11   9.11       9.10       9.11                                   Tap Water
        9

        8

        7
              Q1      Q2      Q3      Q4       Q1      Q2
             Q1/2011 Q2/2011 Q3/2011 Q4/2011 Q1/2012 Q2/2012




                         Eastern Water Resources Development and Management Public Company Limited
                                                                                                     12
1H2012 Performance
Cost Structure

                      Raw Water                                                          Tap Water
                  Others
                                             Raw Water                               Others
                   12%
                                                22%                         Chemical 11%
                                                                                5%       Others            Raw Water
                       Others Raw Water                                                   13% Raw Water 34%
                        16%      18%                                                 Chemical
   Depreciation                                                                                      29%
                             2011                                       Depreciation    5%
                                                                                                2011
      25%            Depreciation                                          14% Depreciation
                        29%                                            2012           16%            Staff
                                    Electricity
                                       37%                                               Electricity 10%
                                                                                               27%      Staff
      2012                                Electricity                                Electricity         9%
                                             41%                                        27%
                                         Cost Structure: Consolidated
                             80%

                             60%                   13%
                                                   2%                  11%                Tax
                                                   12%                 2%
                             40%                                       11%                Interest
                                                                                          SG&A
                             20%                   42%                 37%
                                                                                          COGS
                              0%
                                                  Q2/2011            Q2/2012
                                             Eastern Water Resources Development and Management Public Company Limited
                                                                                                                         13
1H2012 Performance
Financial Summary: Revenue and Net Profit


   MB
1200
                                                                                       Revenue (MB)
                                                               964
1000                                                                                                      1856
                                                 892

800                                                         8.1% q-o-q               1653
        820      832      817          841
                                                          15.9% y-o-y
600                                                                                 H1/11                 H1/12


400
                                                                                      Net Profit (MB)
                                                   324             379                                     704
                                                                                     493
200                                   274                   17% q-o-q
         236     257    242
                                                          47.5% y-o-y
  0
        Q1/11   Q2/11   Q3/11       Q4/11        Q1/12       Q2/12                  H1/11                 H1/12



                              Eastern Water Resources Development and Management Public Company Limited
                                                                                                                  14
1H2012 Performance
Financial Summary: Financial Ratios



                Ratios                             2Q 2011                       2Q 2012


     Gross Profit Margin
                                                   67.07%                        71.56%
     Net Profit Margin                             30.82%                        39.34%
     ROE                                           13.02%                        17.32%
     ROA                                           11.76%                        11.30%
     D/E                                             0.55                          0.58
     EPS                                             0.16                          0.23


                         Eastern Water Resources Development and Management Public Company Limited
                                                                                                     15
1H2012 Performance
Financial Summary : Balance Sheet as of June 30, 2012




Jun,30 2012   Asset : 11,291.98 MB             Liability : 4,153.13 MB                 Equity : 7,138.85 MB

Dec,31 2011   Asset : 10,774.24 MB             Liability : 3,838.04 MB                 Equity : 6,936.20 MB

                     4.81%                               8.21%                                  2.92%
                             Eastern Water Resources Development and Management Public Company Limited
                                                                                                              16
1H2012 Performance
 Financial Summary: Dividend Policy


                                    EPS VS DPS
               0.70                             0.61
               0.60                    0.52
                             0.48
               0.50
  TH B/share




               0.40   0.34                                    0.42
                                                0.42                       EPS
               0.30                    0.38
                             0.35                                          DPS
               0.20
                      0.25                                    0.20
               0.10
               0.00                                                                            Dividend Payout
                      2008   2009      2010     2011     2012(6M)                72.87%                    73.02%
                                                                       75%                    72.18%
                                                                                                                          69.40%
                                                                       70%

                                                                       65%

                                                                       60%

                                                                       55%

                                                                       50%
                                                                                                                                     47.62%
                                                                       45%
                                                                                  2008         2009         2010          2011     2012(6M)

*This presentation excluded the extra-ordinary revenue of the Prasae project in 2010, its cost of project sold, and its
profit from the 2010 operating performance
                                               Eastern Water Resources Development and Management Public Company Limited
                                                                                                                                              17
Agenda

•   2H2012 Outlook
•   1H2012 Performance
•   Water Situation
•   Project Update




             Eastern Water Resources Development and Management Public Company Limited
                                                                                         18
Water Situation
  Water Supply in Major Reservoirs as of Aug 31, 2012
120
                 117.0                                                                      180   163.75
                                                                 80     71.4
100                                                                                         160
                                                                 70                                                                                               248.0
                                                                                                                                 40.1
80            62.39             21.4                             60
                                                                                            140                            45

                         24                                                                 120                            40
                                                                                                                                                          240
                                                                 50
                                                                                                              69.49
                                                                                                                           35
60                       20                                                                 100                                                           220
                                                                 40
                                                                                                                           30
                                                                                                                                                  29.19
                         16
                                                                             23.59          80                             25                             200
40                       12                                      30                                                                                       180
                                                                                            60                             20
                                            4.36                                                                                                                       125.48
                         8                                       20                         40
                                                                                                                           15                             160
20
                                                 20%
                                                                                                                           10
                                                                                                                                                          140
                 53%     4
                                                                 10                   33%   20
                                                                                                                     42%   5
                                                                                                                                                  73%
 0                       0                                                                                                                                120
                                อ่ างฯหนองค้ อ                    0                          0                             0
      อ่ างฯบางพระ            Nongkor                                                                                            อ่ างฯคลองใหญ่           100
         Bangpra                                                      อ่ างฯดอกกราย
                                                                      Dok Krai                    อ่ างฯหนองปลาไหล              Klong-Yai
                                                                                                        NPL                                               80
                                                                                                                                                          60
                                                                                                                                                          40
                                                                                                                                                          20            51%
                                                                                                                                                           0
                                                                                                                                                                อ่ Prasae
                                                                                                                                                                   างฯประแสร์




                     Chonburi                                                                                        Rayong



                                                       Eastern Water Resources Development and Management Public Company Limited
                                                                                                                                                                           19
Water Situation
    Water Situation : Dok Krai, Nong Pla Lai, Klong Yai
                                                                                           Dok Krai, Nong Pla Lai & Klong Yai Reservoir
Total Water Storage of Dok Krai, Nong Pla Lai & Klong Yai Reservior




                                                                             Maximum Storage 275.25 million m3

                                                                                2012              Highest 2006-2012



                                                                                                                   Average 2006-2012
                           (Million m3)




                                                                                                                                                                               2004



                                                                                                             Aug 31, 2012                                  2005
                                                                                                       122.27 million m3 (44.4%)                  Lowest 2006-2012

                                                                                                                                                       Minimum Storage 19.5 million m3
                                                                                                                                                         Dead Storage 9.5 million m3
                                                                                             Eastern Water Resources Development and Management Public Company Limited
                                                                      Jan.      Feb.       Mar.      Apr. May          Jun.     Jul.       Aug.     Sep.      Oct.      Nov.     Dec.
                                                                                                                                                                                    20
Water Situation
      Water Situation : Bang Pra & Nong Kho
                                                                                    Bang Pra & Nong Kho Reservoir
                                                               Maximum Storage 138.40 million m3

                                                                  2012
Total Water Storage of Bang Pra & Nong Kho Reservior




                                                                                         Aug 31, 2012
                                                                                   66.75 million m3 (48.2%)


                                                         Highest 2006-2012
                     (Million m3)




                                                       Average 2006-2012

                                                                                                                                       2005
                                                                                                                              Lowest 2006-2012

                                                        Minimum Storage 13.05 million m3
                                                                               Eastern Water Resources Development and Management Public Company Limited
                                                        Jan.      Feb.      Mar.       Apr. May        Jun.     Jul.      Aug.      Sep.     Oct.     Nov.   Dec.21
Water Situation
     Water Situation : Prasae
                                                                                                  Prasae Reservoir
Total Water Storage of Bang Pra & Nong Kho Reservior




                                                               Maximum Storage 248.0 million m3                                                              2006
                                                        2009
                                                                    2011
                                                                                  2012
                     (Million m3)




                                                                                                                                        2005
                                                                                                 Aug 31, 2012                        Lowest 2006-2012
                                                                                           125.48 million m3 (50.6%)

                                                         Minimum Storage 20.0 million m3

                                                                               Eastern Water Resources Development and Management Public Company Limited
                                                       Jan.     Feb.       Mar.       Apr. May          Jun.    Jul.       Aug.     Sep.       Oct.   Nov.     Dec.22
Water Situation
      Demand Forecast: Raw and Tap Water



                  Demand Forecast
MCM / Year          Raw Water
                 +8.4%   +6.7%    +3.0%       +4.2%                                   Demand Forecast
350                                            325
                         303       312                                                  Tap Water
300              284
                                                           100                +5.5%      +5.9%      +5.6%    +5.3%
250                                                                                                   76       80
                                                            80                  68         72
200                                                         60
        140                                                          34
150                                                         40
100                                                         20
       1H 2012   2012F   2013F    2014F      2015F                1H 2012     2012F      2013F      2014F    2015F

                                                              *Tap water sales volume was excluded O&M Contract




                                 Eastern Water Resources Development and Management Public Company Limited
                                                                                                                     23
Agenda

•   2H2012 Outlook
•   1H2012 Performance
•   Water Situation
•   Project Update




             Eastern Water Resources Development and Management Public Company Limited
                                                                                         24
Project Update
Nongplalai-Maptaphut # 3


                                                                             Investment: 2,181 MB
  Nongplalai-Maptaphut # 3

                                       •    Increasing pumping
                                            capacity by 105 MCM/ Yr
                                       •    Overall Progress 94.34%
                                            (as of July 31, 2012)
                                       •    Completion: Dec, 2012




                       Eastern Water Resources Development and Management Public Company Limited
                                                                                                    25
Project Update
Bangpra project


                                                                              Investment: 850 MB

                                                                 Bangpra Project
                                              •    Reducing water transmit from Rayong to
     Bangpra
                                                   Chonburi
     Reservior                                •    Building new pumping station at Bangpra
     Pumping                                       reservoir
     Station
                                              •    Capacity: 200,000 CU.M per day starting
                                                   in 2014
                                              •    Overall Progress 26.40% (as of July 31,
                                                   2012
                                              •    Completion: 2013




                  Eastern Water Resources Development and Management Public Company Limited
                                                                                              26
Project Update
Tabma Project


                                                                         Investment: 2,735 MB

                                                                        Tabma Project
                                                         •    Development of supply sourcing
                                                         •    Increase water supply by 55 MCM
                                                              per year
                                                         •    Land: 1,000 acres (400 Rai)
                                                         •    Pumping station, pipeline
                                                         •    Overall Progress 13.70% (as of July
                Location                                      31, 2012
                                                         •    Completion: 2014
                            Klong Tapma
                           Puming station




     Maptaput                                                                                  Rayong River
                                                                                                 pumping
                      Eastern Water Resources Development and Management Public Company Limited station
27                                                                                                       27
Project Update
Other Projects: Dok-Krai and Map-Ka 2


       Pumping station Improvement                                    Storage pond
                 Dok-Krai                                                Map-Ka 2
                              Investment: 192 MB                                            Investment: 100MB
   •    Improving pump and laying pipeline             •    Secure water pumping system>>
   •    Increasing capacity from 96 to 116                  reserve water more than 20 hrs in
        MCM/ Yr                                             case of power failure
   •    Overall Progress 100.00% (as of July           •    Capacity: 220,000 CU.M.
        31, 2012)                                      •    Overall Progress 76.96%
   •    Completion: 2012                                    (as of July 31, 2012)
                                                       •    Completion: 2012




                              Eastern Water Resources Development and Management Public Company Limited
                                                                                                                28
Q&A



Eastern Water Resources Development and Management Public Company Limited
                                                                            29
Thank you



Eastern Water Resources Development and Management Public Company Limited
Index



Eastern Water Resources Development and Management Public Company Limited
Company Outlook: History
               To establish a new company

                      The Provincial                  Responsible for the development & management
                       Waterworks                       of the raw water delivery system in Eastern
                        Authority                                Seaboard(ES) of Thailand
                         (PWA)

   Cabinet                                       EAST WATER
  Resolution                                     Initial Paid-Up
On Sep 12, 1992                                  Capital 10 MB.                               • Aug 1996: increased
                                                                                              capital to 1.7 billion
                                                                                              Baht
                         The Royal                                                            • Jul 1997: Listed on SET
                         Irrigation                                                           • Dec 1998: Established
                        Department                                                            Universal Utilities
                            (RID)                                                             • Sep 1999: Awarded
                                                                                              ISO 9002

                To continue its role as to develop
                raw water resources & reservoirs
                               Eastern Water Resources Development and Management Public Company Limited
                                                                                                                   32
Company Outlook: Shareholders and Group Structure


                 Other
               Investors            PWA
                 26%                40%                                                        East Water


   IEAT
    5%                                                                         Universal Utilities (UU)            EGCOM TARA
                           EGCO
          Utilico                                                                       100%                          15.88%
                            19%
           10%

             Foreign Investors 18.78%                           Chachoengsao        Bangpakong             Nakornsawan
                                                               Waterwork 99%       Waterwork 99%          Waterwork 100%
                    As of July 31, 2012




                                          Eastern Water Resources Development and Management Public Company Limited
                                                                                                                                33
Company Outlook:
Pipeline Network and Service Areas
                                                      Raw Water                          Customers
                                                      Rayong                Heavy Industry, Petro Chemical



                                                      Chonburi              Domestic Consumpt., General
                                                                            Industry
                    Chacoengsao Pipeline
                                                      Chachoengsao          Automotive, Domestic Consumption
Chonburi Pipeline




                                                      Tap Water                    Major Concessions
                    Prasae - Klongyai Pipeline        Rayong                86,400 CM per day

                                                      Ratchburi             48,000 CM per day

                                                      Chachoengsao          47,400 CM per day

                                                      Bangpakong            43,200 CM per day

                                                      Suttahip              31,200 CM per day
                                 Rayong Pipeline
                                                      Chonburi              24,000 CM per day

                                                       Nakornsawan         19,200 CM per day
                           Eastern Water Resources Development and Management Public Company Limited
                                                       Others              17,710 CM per day
                                                                                                             34
Water Situation
Water demand in the year 2022


               600                                                                                      459        Chacheongsao
                                                                                 377                     4
 (MCM./year)




               400                  269                   292                     3                     60         Borwin-Pluakdang
   Demand




                                      2                    3                    48                     111
                                    21                    23                    101                                Chonburi
                                    69                    79
               200                                                                                     284         Rayong
                                    176                  187                    225

                 0                                                                                             Year
                                2011
                              2554                     2012
                                                      2555                      2017
                                                                               2560                   2022
                                                                                                     2565
                                                              Chonburi                  Borwin-Pluakdang            Chacoengsao
     Area                  Rayong

               Major customers                         Major Customers             Major Customers              Customers
               -Maptaphut Indust. Estate               -Pattaya Waterworks         -Power plant in ESIE, CIE
               -Petrochem. Customers in EIE            Sri-racha Waterworks,       -Nong klang dong
  (+) Factor
                                                       Laem Chabung
               RIL1996 , PTT Complex
                                                       Waterworks
               -Satthahip Waterworks




  (-) Factor                                                      -                              -                        -
                              -

  Demand
  Increase                   58.5             Eastern Water Resources Development and Management Public Company Limited
                                                                 10                         12                            1
   (MCM.)
                                                                                                                                  35
Half Year Results
                                 Ended 30 June 2012
Eastern Water Resources Development and Management Public Company Limited
Contents

               Company Highlights
               Operation Highlights
               Financial Results

         Eastern Water Resources Development and Management Public Company Limited
37
                                                                                     37
Universal Utilities Co., Ltd. (UU)

                            Nakhonsawan
                             Prathum-Rangsit (PWA)
                                    Chachoengsao
Rachaburi-Samutsongkram             Bangpakong
                                          Borwin , Nongkham
                                        Sattahip , Chonburi
                 Larn Island              Rayong
                  Srichang Island

                          Samui Island
                                                             Group 1 Concession Contracts

                                                             Group 2 O&M Contracts

                              Eastern Water Resources Development and3Management Public Company Limited
                                                              Group NRW Contracts
                                                                                                          38
Universal Utilities Q2/2012 Highlight
                                Performance     Q2/2012     % Growth
                                    Revenue     261 MB            12.29%
                                    EBITDA      83 MB             22.72%
                                   NET Profit   40 MB             48.37%

        Million Baht

      300.00                                             261.35
                       232.74
      250.00
                                                                                              Revenue
      200.00
                                                                                              EBITDA
      150.00                                                                                  Net Profit
                                67.52                              82.86
      100.00                                                               40.23
                                        27.12
       50.00
          -
                         Q2/2011                           Q2/2012


                            Eastern Water Resources Development and Management Public Company Limited
39
                                                                                                           39
Universal Utilities Jan-Jun 2012 Highlight
                           Performance           Jan-Jun 2012   % Growth
                                Revenue            507 MB             9.10%
                                 EBITDA            153 MB            22.44%
                                NET Profit          74 MB            53.14%
        Million Baht


       600.00                                               507.42
                       465.09
       500.00
                                                                                              Revenue
       400.00
                                                                                              EBITDA
       300.00                                                                                 Net Profit
                                124.80                               152.81
       200.00                                                                 73.67
                                         48.11
       100.00
           -
                        Jan-Jun 11                           Jan-Jun 12


                            Eastern Water Resources Development and Management Public Company Limited
40
                                                                                                           40
Contents

               Company Highlights
               Operation Highlights
               Financial Results

         Eastern Water Resources Development and Management Public Company Limited
41
                                                                                     41
Tap Water Demand Q2/2012 (Excluded O&M Contract)


         Million Cubic Meter                                              11.25%
                                                                          17.16
              18.00
              17.00                          15.43
              16.00
              15.00
              14.00
                                    Q2/2011                     Q2/2012
                  Remarks :
                  CWS Increase 0.38 Million Cu.m.
                  BWS Increase 0.65 Million Cu.m.
                  Bowin Increase 0.17 Million Cu.m.
                  Sattahip Increase 0.57 Million Cu.m.
                  Rayong Increase 0.36 Million Cu.m.
                                  Eastern Water Resources Development and Management Public Company Limited
42
                                                                                                              42
Tap Water Demand Jan-Jun 2012 (Excluded O&M Contract)


          Million Cubic Meter                                               9.58%

                                                                           33.52
               34.00
                                                30.59
               32.00

               30.00

               28.00
                                     Jan-Jun 11                   Jan-Jun 12
                       Remarks :
                       CWS Increase 0.80 Million Cu.m.
                       BWS Increase 0.83 Million Cu.m.
                       Bowin Increase 0.28 Million Cu.m.
                       Sattahip Increase 0.85 Million Cu.m.
                       Rayong Increase 0.59 Million Cu.m.
                                     Eastern Water Resources Development and Management Public Company Limited
43
                                                                                                                 43
Contents

               Company Highlights
               Operation Highlights
               Financial Results

         Eastern Water Resources Development and Management Public Company Limited
44
Tap Water Revenue & Net Profit

             Revenue Q2/2011 Vs. Q2/2012 (Consolidated)                            Net Profit Q2/2011 Vs. Q2/2012 (Consolidated)


     Million Baht                                                        Million Baht
                                                   12.29%                                                          48.37%


                           232.74                 261.35                                                           40.23
     300.00                                                              60.00                 27.12
     200.00                                                              40.00
     100.00                                                              20.00
         -                                                                  -
                      Q2/2011                Q2/2012                                     Q2/2011             Q2/2012


 Remarks :                                                                 Remarks :
 CWS       Increase 10 MB           Satthahip Increase 8 MB                CWS       Increase 2 MB     BWS Increase 3 MB
 Bowin      Increase 4 MB           Rayong Increase 5 MB                   Bowin      Increase 3 MB    Rayong Increase 3 MB
 CHonburi Decrease 4 MB             BWS      Increase 5 MB                 Samui     Increase 3 MB

                                                 Eastern Water Resources Development and Management Public Company Limited
45
                                                                                                                                   45
Tap Water Revenue & Net Profit

         Revenue Jan-Jun 2011 Vs. 2012 (Consolidated)                             Net Profit Jan-Jun 2011 Vs. 2012 (Consolidated)


     Million Baht                                                        Million Baht
                                                   9.10%                                                            53.14%


                          465.09                 507.42                                                             73.67
     600.00                                                              100.00
     500.00                                                                                    48.11
     400.00
     300.00                                                               50.00
     200.00
     100.00
         -                                                                   -
                    Jan-Jun 11             Jan-Jun 12                                   Jan-Jun 11           Jan-Jun 12


 Remarks :                                                                 Remarks :
 CWS       Increase 16 MB          Satthahip Increase 12 MB                CWS       Increase 7 MB     BWS Increase 5 MB
 Bowin      Increase 6 MB          Rayong Increase 9 MB                    Bowin      Increase 4 MB    Rayong Increase 6 MB
 Chonburi Decrease 5 MB            BWS      Increase 7 MB                  Samui      Increase 4 MB

                                                 Eastern Water Resources Development and Management Public Company Limited
46
                                                                                                                                    46
Tap Water Demand (Excluded O&M Contract)
                                                                AVG. Growth 5.27%
          Million Cubic Meter
                                                                              6.02%              5.16%
     100                                                  4.64%
                                                                                76                 80
                                        68                 72
      75

      50                  34

      25

      -
                    2012 A       2012 E              2013 E             2014 E              2015 E
                   6 Mths
                                                                Forecasted

                                Eastern Water Resources Development and Management Public Company Limited
47
                                                                                                            47
Capex 2012-2014


                                    Amount                                    Year
             Description             (MB)                 2012                2013                2014
     Universal Utilities
     Plant Capacity Expansion          498                 410                  88                  0
     Pipeline Expansion                 79                  28                  29                  22
     M&E Replacement                   252                  87                  91                  74
     Total                             829                 525                 208                  96
     Plant Expansion
     2012 Chonburi Project 250 MB (24,000 Cu.M./Day)
     2012 Satthahip Project 160 MB (12,000 Cu.M./Day)
     2013 BWS Project 88 MB (Expand 19,200 Cu.M./Day)
                               Eastern Water Resources Development and Management Public Company Limited
48
                                                                                                           48
Capacity
                                   ลบ.ม./วัน
         ประปา/ปี                   มิ.ย.-55
        ฉะเชิงเทรา                  47,400
         บางปะกง                    43,200
        นครสวรรค์                   22,200
           ระยอง                    86,400
           สัตหีบ                   31,200
           บ่ อวิน                   9,600
           ชลบุรี                   24,000
         เกาะล้ าน                    300
          เกาะสีชัง                   250
         เกาะสมุย                    3,000
         หนองขาม                     1,560
         สัมปทาน                   269,110
           ราชบุรี                  48,000
            O&M                     48,000
     Easternรวม Resources Development and Management Public Company Limited
              Water                317,110
49
                                                                              49
Thank You
www.eastwater.com Public Company Limited
Eastern Water Resources Development and Management
Aug 27, 2012
Water Situation



    Accumulated Rainfall
   (Jan 1 – Aug 27, 2012)




                  Eastern Water Resources Development and Management Public Company Limited
                                                                                              51
Water Situation
El Niño / La Niña




                                                                            El Niño




                                                                            neutral




                                                                            La Niña




               Eastern Water Resources Development and Management Public Company Limited
                                                                                           52
Water Situation
Rayong Vs Chonburi

              Rayong                                                          Chonburi




   Accumulated rainfall (Aug 27, 2012)                    Accumulated rainfall (Aug 27, 2012)
   was 834.2 MM >>> Low                                   was 592.6 MM >>> Very Low


                           Eastern Water Resources Development and Management Public Company Limited
                                                                                                       53
Water Situation
Cost from Drought


       Budgeting 2012
       Volume (M.CM)                                       283.57                     283.57
       Cost of Goods Sold              (unit: million baht)

       Raw Water                                           161.01 0.57                161.01     0.57
       electricity                                         323.79 1.14                323.79     1.14
       depreciation                                        250.00 0.88                250.00     0.88
       other                                               126.92 0.45                126.92     0.45
       drought protection expense                             5.00 0.02                65.79     0.23
       Total COGS                                          866.72 3.06                927.51     3.27




                            Eastern Water Resources Development and Management Public Company Limited
2Q2012 Performance
Financial Summary: Product Mix

                                                                                              Servic
                                                                                              es&Re        Others
                                                                                               ntal         1%
           EASTW’s Total Revenue Breakdown                                                     6%
                                                                                                    Tap
                  by Line of Business                                                              Water
                                                                                                   23%         Raw
                                                                  * As of June 31, 2012 (1H)                   Water
                                                                                                               70%
                                                                  Total Revenue*= 1,855.81 MB

                               Raw Water                                                           Tap Water
Raw Water Breakdown by Province            Raw Water Breakdown by
                                                                                   Tap Water Breakdown by Province
                    Chacho                       Customers
                    engsao                             General
                      1%                              Factories                                   Others    Rayong
         Chonburi                                        7%           IEAT                         22%       21%
           26%                                                        37%
                                            Private
                                            Estates                                Chonburi
                                             25%                                     9%                             Sattahip
                      Rayong
                                                                                                                      20%
                       73%                              Consumption                      Chacoen       Bangpak
                                                            32%                            gsao          ong
                                                                                           15%           13%
Raw Water Revenue*= 1,296.14 MB         Raw Water Revenue*= 1,296.14 MB                  Tap Water Revenue*= 417.41 MB
                                   Eastern Water Resources Development and Management Public Company Limited
* As of June 31, 2012 (1H)                                                                                                     55
2Q2012 Performance
Tap Water Revenue and Costs Breakdown



     Revenue & Total Cost of Tap Water (Consolidated Jan-Jun)                     Total Cost of Tap Water Breakdown (Consolidated Jan-Jun)
                                                                              120%                       Tap Water cost structure
                                                                              100%                   6.55%                              7.24%
600                                                          507.42
                 465.09                                                         80%
500                                                                                                 34.30%                             36.91%
400                                                                             60%                 0.77%
                                                                                                    11.47%                             0.83%
300                                                                                                 5.92%                              12.55%
200                                                                             40%                 7.87%                              5.69%
                 82.53%                                  78.37%                                                                        7.63%
100                                                                             20%
  0                                                                                                 33.12%                             29.15%
                 Jan-Jun 11                             Jan-Jun 12               0%
                                                                                                   Jan-Jun 12                        Jan-Jun 11

                                                                                                 Raw Water                   Staff Cost
                      Total Cost                   Revenue                                       Electricity                 Depreciation
                      (Exclude Tax and Interest)                                                 Chemical                    Cost of Services
                                                                                                 Others


                                                   Eastern Water Resources DevelopmentTotal Cost Exclude Cost Allocation ,Tax and Interest Expense.
                                                                              Remarks : and Management Public Company Limited
56
                                                                                                                                                      56
Water Situation
Raw Water Demand 2011-2022

              600                                                                                             459           Chacheongsao
                                                                                  377                          4
(MCM./year)




              400                    269                  292                       3                         60            Borwin-Pluakdang
  Demand




                                       2                   3                      48                         111
                                     21                   23                      101                                       Chonburi
                                     69                   79
              200                                                                                            284            Rayong
                                     176                  187                     225

                  0                                                                                                      Year
                                   2011
                                 2554                  2012
                                                      2555                     2017
                                                                              2560                        2022
                                                                                                         2565

  Area                      Rayong                                Chonburi                    Borwin-Pluakdang               Chacoengsao
                                                      Major Customers                       Major Customers                Major Customers
               Major customers
                                                      -Laem Chabung Industrial              -Power plant in ESIE, CIE,
               -Maptaphut Industrial Estate           Estate                                H-ESIE, TNP2                   -Chonburi Waterworks
               -Petrochem. Customers in EIE , Asia                                          - Nong Klang dong
(+) Factor     Industrial Estate, RIL1996 , PTT                                                                            UU
                                                      –Thai oil
               Complex
                                                      -Laem Chabung , Pattaya ,
               -Satthahip                             Sri-racha Waterworks
               Waterworks



(-) Factor    Rayong power plant                      -                                 -
              Baan-chang Waterworks

Demand
increase                      38.5            Eastern Water Resources Development and Management Public Company Limited
                                                                 21.5                         25                                   1
 (MCM.)
                                                                                                                                              57
Water Situation
Raw Water Demand and Supply 2012-2022


                                2012                       2017                       2022
    Capacity of pipe
  line system (MCM.)          351.0                      456.0                      456.0
                                                       (Plus NPL3-105 MCM)


        Supply
       (MCM.)                 281.5                        372                      394.5
       Demand
       (MCM.)                283.7                       365.9                      445.7
  Demand + NRW 3%
      (MCM.)
                              292.2                      376.9                      459.1


                       Eastern Water Resources Development and Management Public Company Limited
                                                                                                   58
Water Situation
Existing Supply 2012
      2012



                                                   2012
                                                   Total Sale Volume              284




                  Eastern Water Resources Development and Management Public Company Limited
                                                                                              59

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  • 1. East Water Performance 2Q2012 Eastern Water Resources Development and Management Public Company Limited
  • 2. Agenda • 2H2012 Outlook • 1H2012 Performance • Water Situation • Project Update Eastern Water Resources Development and Management Public Company Limited 2
  • 3. 2H2012 Outlook Positive / Negative Factors Positive Factors • Thailand Board of Investment (BOI) reported that the total investment of those who have investment incentive in 1H2012 grew up 34%. • According to The Tourism Authority of Pattaya, revenue from tourism is expected to grow up to 7.7 billion in 2012 from 7.3 billion in 2011 and the number of tourists was expected to increase from 7 million people per year to 10 million in the next 3 years. Negative Factor • Due to European economic crisis, the exports fell 15.6% (January - April 2012) and the export volume for the year 2012 is expected to grow by only 7-8% • Eastern Seaboard may be threatened with drought in 2013 and may cause the higher cost for the company *Source of Information: The University of Thai Chamber of Commerce Eastern Water Resources Development and Management Public Company Limited 3
  • 4. 2H2012 Outlook Growth of Industrial Estate in Eastern Seaboard Total Investment – Promotion Certified issued by BOI Billion Baht 450 408.8 54.3% 400 350 134.6 +70.4% 300 265 250 Zone3 79 200 Zone2 208.5 Zone1 150 100 155.7 +33.9% 50 30.3 65.7 +116.8% 0 H1/2011 H2/2012 Note: Chemical/Plastic/Paper **Zone 1: Bangkok/Nakornpathom/ Pathumthani / Samutsakorn / Sumutprakarn Industry grew by 44% (YOY) Zone 2: Rayong / Chachoengsao/ Chonburi/ Ratchaburi/ Phuket/Others Zone 3: 58 Remaining Provinces *Source of Information: Thailand Board of Investment: BOI Eastern Water Resources Development and Management Public Company Limited 4
  • 5. 2H2012 Outlook  Sale volume growth 8-9% (YoY %)  Potential Customer Customers Expected Volume Year Per year 5 SPP Projects in Hemaraj 10 MCM. 2015 PTT Group 1.5 – 2.7 MCM. 2015 IRPC & CP Land 0. 5 – 1.0 MCM. 2014 Gateway City 7.0 – 14.0 MCM. 2016-2017  New Business (Under Study) • Diversification to Utilities/Infrastructure Company • Desalination Eastern Water Resources Development and Management Public Company Limited 5
  • 6. 2H2012 Outlook CAPEX 2012-2014 Amount Year Description (MB) 2012 2013 2014 2015 2016 East Water Enhancement of water pipeline 500 87 265 148 Bangpra Project** 850 302 384 Tabma Project 2,735 891 1,131 558 70 85 Total 4,085 1,280 1,780 706 70 85 **CAPEX for Bangpra project have been used in 2011 in amount of 164 million Baht Eastern Water Resources Development and Management Public Company Limited 6
  • 7. สระสำรองนำ้ 2H2012 Outlookิ ดิบฉะเชงเทรำ แม่นำบำงปะกง ้ Raw Water Investment :Water Supply Sourcing Bangpakong river Water Supply Sourcing Supply Investment Projects (MCM) (MB) Siam Current Projects Sam Nuk Bok 1.Bangpra pumping Station 18.0 850 2.Tapma 55.0 2,735 Total 73.0 3,585 Bangpra Klongyai Prasae Current pipeline Pipeline on the Construction Dok Krai NPL RID Pipeline (Completed) RID Pipeline (On the construction) Tapma แม่นำระยอง ้ Eastern Water Resources Development and Management Public Company Limited 7
  • 8. Agenda • 2H2012 Outlook • 1H2012 Performance • Water Situation • Project Update Eastern Water Resources Development and Management Public Company Limited 8
  • 9. 1H2012 Performance Financial Summary: 10 Yrs Revenue VS Net Profit 3,500 3,310 3,107 2,878 3,000 2,430 2,502 2,401 2,500 2,094 1,899 2,000 1,856 MB. 1,416 Revenue 1,500 1,159 1,008 Net Profit 1,000 808 867 500 508 571 704 441 441 500 348 340 0 *This presentation excluded the extra-ordinary revenue of the Prasae project in 2010, its cost of project sold, and its profit from the 2010 operating performance Eastern Water Resources Development and Management Public Company Limited 9
  • 10. 1H2012 Performance Financial Summary: Product Mix Others 3% EASTW’s Total Revenue Breakdown Tap by Line of Business Water 27% Raw * As of June 31, 2012 (6M) Water Total Revenue*= 1,855.81 MB 70% Raw Water Tap Water Raw Water Breakdown by Tap Water Breakdown by Contracts Customers General Factories Others Rayong 7% IEAT 22% 21% Private 37% Estates Chonburi 25% 9% Sattahip 20% Domestic Chacoen Bangpak 32% gsao ong 15% 13% Raw Water Revenue*= 1,296.14 MB Tap Water Revenue*= 500.03 MB Eastern Water Resources Development and Management Public Company Limited * As of June 31, 2012 (1H) 10
  • 11. 1H2012 Performance Financial Summary: Sale Volume; Raw and Tap Water Raw water Volume 80 141 139.83 69.39 70.44 140 70 65.72 65.72 63.56 66.51 139 60 1.51% q-o-q 138 137 50 136 7.18% y-o-y 135 40 134 133 30 132 131.44 20 131 130 10 129 128 0 127 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 H1/11 H1/12 Tap water Volume 20 34 33.52 16.32 16.36 17.16 15.16 15.43 15.76 4.89% q-o-q 33 15 11.21% y-o-y 32 10 31 30.59 5 30 0 29 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 H1/11 H1/12 Eastern Water Resources Development and Management Public Company Limited 11
  • 12. 1H2012 Performance Raw Water & Tap Water Tariff (Bt/ cu.m) 14 13 12.28 12.31 12.42 12.45 12.07 12.18 12 11 10.03 Raw Water 10 9.55 9.11 9.11 9.10 9.11 Tap Water 9 8 7 Q1 Q2 Q3 Q4 Q1 Q2 Q1/2011 Q2/2011 Q3/2011 Q4/2011 Q1/2012 Q2/2012 Eastern Water Resources Development and Management Public Company Limited 12
  • 13. 1H2012 Performance Cost Structure Raw Water Tap Water Others Raw Water Others 12% 22% Chemical 11% 5% Others Raw Water Others Raw Water 13% Raw Water 34% 16% 18% Chemical Depreciation 29% 2011 Depreciation 5% 2011 25% Depreciation 14% Depreciation 29% 2012 16% Staff Electricity 37% Electricity 10% 27% Staff 2012 Electricity Electricity 9% 41% 27% Cost Structure: Consolidated 80% 60% 13% 2% 11% Tax 12% 2% 40% 11% Interest SG&A 20% 42% 37% COGS 0% Q2/2011 Q2/2012 Eastern Water Resources Development and Management Public Company Limited 13
  • 14. 1H2012 Performance Financial Summary: Revenue and Net Profit MB 1200 Revenue (MB) 964 1000 1856 892 800 8.1% q-o-q 1653 820 832 817 841 15.9% y-o-y 600 H1/11 H1/12 400 Net Profit (MB) 324 379 704 493 200 274 17% q-o-q 236 257 242 47.5% y-o-y 0 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 H1/11 H1/12 Eastern Water Resources Development and Management Public Company Limited 14
  • 15. 1H2012 Performance Financial Summary: Financial Ratios Ratios 2Q 2011 2Q 2012 Gross Profit Margin 67.07% 71.56% Net Profit Margin 30.82% 39.34% ROE 13.02% 17.32% ROA 11.76% 11.30% D/E 0.55 0.58 EPS 0.16 0.23 Eastern Water Resources Development and Management Public Company Limited 15
  • 16. 1H2012 Performance Financial Summary : Balance Sheet as of June 30, 2012 Jun,30 2012 Asset : 11,291.98 MB Liability : 4,153.13 MB Equity : 7,138.85 MB Dec,31 2011 Asset : 10,774.24 MB Liability : 3,838.04 MB Equity : 6,936.20 MB 4.81% 8.21% 2.92% Eastern Water Resources Development and Management Public Company Limited 16
  • 17. 1H2012 Performance Financial Summary: Dividend Policy EPS VS DPS 0.70 0.61 0.60 0.52 0.48 0.50 TH B/share 0.40 0.34 0.42 0.42 EPS 0.30 0.38 0.35 DPS 0.20 0.25 0.20 0.10 0.00 Dividend Payout 2008 2009 2010 2011 2012(6M) 72.87% 73.02% 75% 72.18% 69.40% 70% 65% 60% 55% 50% 47.62% 45% 2008 2009 2010 2011 2012(6M) *This presentation excluded the extra-ordinary revenue of the Prasae project in 2010, its cost of project sold, and its profit from the 2010 operating performance Eastern Water Resources Development and Management Public Company Limited 17
  • 18. Agenda • 2H2012 Outlook • 1H2012 Performance • Water Situation • Project Update Eastern Water Resources Development and Management Public Company Limited 18
  • 19. Water Situation Water Supply in Major Reservoirs as of Aug 31, 2012 120 117.0 180 163.75 80 71.4 100 160 70 248.0 40.1 80 62.39 21.4 60 140 45 24 120 40 240 50 69.49 35 60 20 100 220 40 30 29.19 16 23.59 80 25 200 40 12 30 180 60 20 4.36 125.48 8 20 40 15 160 20 20% 10 140 53% 4 10 33% 20 42% 5 73% 0 0 120 อ่ างฯหนองค้ อ 0 0 0 อ่ างฯบางพระ Nongkor อ่ างฯคลองใหญ่ 100 Bangpra อ่ างฯดอกกราย Dok Krai อ่ างฯหนองปลาไหล Klong-Yai NPL 80 60 40 20 51% 0 อ่ Prasae างฯประแสร์ Chonburi Rayong Eastern Water Resources Development and Management Public Company Limited 19
  • 20. Water Situation Water Situation : Dok Krai, Nong Pla Lai, Klong Yai Dok Krai, Nong Pla Lai & Klong Yai Reservoir Total Water Storage of Dok Krai, Nong Pla Lai & Klong Yai Reservior Maximum Storage 275.25 million m3 2012 Highest 2006-2012 Average 2006-2012 (Million m3) 2004 Aug 31, 2012 2005 122.27 million m3 (44.4%) Lowest 2006-2012 Minimum Storage 19.5 million m3 Dead Storage 9.5 million m3 Eastern Water Resources Development and Management Public Company Limited Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. 20
  • 21. Water Situation Water Situation : Bang Pra & Nong Kho Bang Pra & Nong Kho Reservoir Maximum Storage 138.40 million m3 2012 Total Water Storage of Bang Pra & Nong Kho Reservior Aug 31, 2012 66.75 million m3 (48.2%) Highest 2006-2012 (Million m3) Average 2006-2012 2005 Lowest 2006-2012 Minimum Storage 13.05 million m3 Eastern Water Resources Development and Management Public Company Limited Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.21
  • 22. Water Situation Water Situation : Prasae Prasae Reservoir Total Water Storage of Bang Pra & Nong Kho Reservior Maximum Storage 248.0 million m3 2006 2009 2011 2012 (Million m3) 2005 Aug 31, 2012 Lowest 2006-2012 125.48 million m3 (50.6%) Minimum Storage 20.0 million m3 Eastern Water Resources Development and Management Public Company Limited Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.22
  • 23. Water Situation Demand Forecast: Raw and Tap Water Demand Forecast MCM / Year Raw Water +8.4% +6.7% +3.0% +4.2% Demand Forecast 350 325 303 312 Tap Water 300 284 100 +5.5% +5.9% +5.6% +5.3% 250 76 80 80 68 72 200 60 140 34 150 40 100 20 1H 2012 2012F 2013F 2014F 2015F 1H 2012 2012F 2013F 2014F 2015F *Tap water sales volume was excluded O&M Contract Eastern Water Resources Development and Management Public Company Limited 23
  • 24. Agenda • 2H2012 Outlook • 1H2012 Performance • Water Situation • Project Update Eastern Water Resources Development and Management Public Company Limited 24
  • 25. Project Update Nongplalai-Maptaphut # 3 Investment: 2,181 MB Nongplalai-Maptaphut # 3 • Increasing pumping capacity by 105 MCM/ Yr • Overall Progress 94.34% (as of July 31, 2012) • Completion: Dec, 2012 Eastern Water Resources Development and Management Public Company Limited 25
  • 26. Project Update Bangpra project Investment: 850 MB Bangpra Project • Reducing water transmit from Rayong to Bangpra Chonburi Reservior • Building new pumping station at Bangpra Pumping reservoir Station • Capacity: 200,000 CU.M per day starting in 2014 • Overall Progress 26.40% (as of July 31, 2012 • Completion: 2013 Eastern Water Resources Development and Management Public Company Limited 26
  • 27. Project Update Tabma Project Investment: 2,735 MB Tabma Project • Development of supply sourcing • Increase water supply by 55 MCM per year • Land: 1,000 acres (400 Rai) • Pumping station, pipeline • Overall Progress 13.70% (as of July Location 31, 2012 • Completion: 2014 Klong Tapma Puming station Maptaput Rayong River pumping Eastern Water Resources Development and Management Public Company Limited station 27 27
  • 28. Project Update Other Projects: Dok-Krai and Map-Ka 2 Pumping station Improvement Storage pond Dok-Krai Map-Ka 2 Investment: 192 MB Investment: 100MB • Improving pump and laying pipeline • Secure water pumping system>> • Increasing capacity from 96 to 116 reserve water more than 20 hrs in MCM/ Yr case of power failure • Overall Progress 100.00% (as of July • Capacity: 220,000 CU.M. 31, 2012) • Overall Progress 76.96% • Completion: 2012 (as of July 31, 2012) • Completion: 2012 Eastern Water Resources Development and Management Public Company Limited 28
  • 29. Q&A Eastern Water Resources Development and Management Public Company Limited 29
  • 30. Thank you Eastern Water Resources Development and Management Public Company Limited
  • 31. Index Eastern Water Resources Development and Management Public Company Limited
  • 32. Company Outlook: History To establish a new company The Provincial Responsible for the development & management Waterworks of the raw water delivery system in Eastern Authority Seaboard(ES) of Thailand (PWA) Cabinet EAST WATER Resolution Initial Paid-Up On Sep 12, 1992 Capital 10 MB. • Aug 1996: increased capital to 1.7 billion Baht The Royal • Jul 1997: Listed on SET Irrigation • Dec 1998: Established Department Universal Utilities (RID) • Sep 1999: Awarded ISO 9002 To continue its role as to develop raw water resources & reservoirs Eastern Water Resources Development and Management Public Company Limited 32
  • 33. Company Outlook: Shareholders and Group Structure Other Investors PWA 26% 40% East Water IEAT 5% Universal Utilities (UU) EGCOM TARA EGCO Utilico 100% 15.88% 19% 10% Foreign Investors 18.78% Chachoengsao Bangpakong Nakornsawan Waterwork 99% Waterwork 99% Waterwork 100% As of July 31, 2012 Eastern Water Resources Development and Management Public Company Limited 33
  • 34. Company Outlook: Pipeline Network and Service Areas Raw Water Customers Rayong Heavy Industry, Petro Chemical Chonburi Domestic Consumpt., General Industry Chacoengsao Pipeline Chachoengsao Automotive, Domestic Consumption Chonburi Pipeline Tap Water Major Concessions Prasae - Klongyai Pipeline Rayong 86,400 CM per day Ratchburi 48,000 CM per day Chachoengsao 47,400 CM per day Bangpakong 43,200 CM per day Suttahip 31,200 CM per day Rayong Pipeline Chonburi 24,000 CM per day Nakornsawan 19,200 CM per day Eastern Water Resources Development and Management Public Company Limited Others 17,710 CM per day 34
  • 35. Water Situation Water demand in the year 2022 600 459 Chacheongsao 377 4 (MCM./year) 400 269 292 3 60 Borwin-Pluakdang Demand 2 3 48 111 21 23 101 Chonburi 69 79 200 284 Rayong 176 187 225 0 Year 2011 2554 2012 2555 2017 2560 2022 2565 Chonburi Borwin-Pluakdang Chacoengsao Area Rayong Major customers Major Customers Major Customers Customers -Maptaphut Indust. Estate -Pattaya Waterworks -Power plant in ESIE, CIE -Petrochem. Customers in EIE Sri-racha Waterworks, -Nong klang dong (+) Factor Laem Chabung RIL1996 , PTT Complex Waterworks -Satthahip Waterworks (-) Factor - - - - Demand Increase 58.5 Eastern Water Resources Development and Management Public Company Limited 10 12 1 (MCM.) 35
  • 36. Half Year Results Ended 30 June 2012 Eastern Water Resources Development and Management Public Company Limited
  • 37. Contents  Company Highlights  Operation Highlights  Financial Results Eastern Water Resources Development and Management Public Company Limited 37 37
  • 38. Universal Utilities Co., Ltd. (UU) Nakhonsawan Prathum-Rangsit (PWA) Chachoengsao Rachaburi-Samutsongkram Bangpakong Borwin , Nongkham Sattahip , Chonburi Larn Island Rayong Srichang Island Samui Island Group 1 Concession Contracts Group 2 O&M Contracts Eastern Water Resources Development and3Management Public Company Limited Group NRW Contracts 38
  • 39. Universal Utilities Q2/2012 Highlight Performance Q2/2012 % Growth Revenue 261 MB 12.29% EBITDA 83 MB 22.72% NET Profit 40 MB 48.37% Million Baht 300.00 261.35 232.74 250.00 Revenue 200.00 EBITDA 150.00 Net Profit 67.52 82.86 100.00 40.23 27.12 50.00 - Q2/2011 Q2/2012 Eastern Water Resources Development and Management Public Company Limited 39 39
  • 40. Universal Utilities Jan-Jun 2012 Highlight Performance Jan-Jun 2012 % Growth Revenue 507 MB 9.10% EBITDA 153 MB 22.44% NET Profit 74 MB 53.14% Million Baht 600.00 507.42 465.09 500.00 Revenue 400.00 EBITDA 300.00 Net Profit 124.80 152.81 200.00 73.67 48.11 100.00 - Jan-Jun 11 Jan-Jun 12 Eastern Water Resources Development and Management Public Company Limited 40 40
  • 41. Contents  Company Highlights  Operation Highlights  Financial Results Eastern Water Resources Development and Management Public Company Limited 41 41
  • 42. Tap Water Demand Q2/2012 (Excluded O&M Contract) Million Cubic Meter 11.25% 17.16 18.00 17.00 15.43 16.00 15.00 14.00 Q2/2011 Q2/2012 Remarks : CWS Increase 0.38 Million Cu.m. BWS Increase 0.65 Million Cu.m. Bowin Increase 0.17 Million Cu.m. Sattahip Increase 0.57 Million Cu.m. Rayong Increase 0.36 Million Cu.m. Eastern Water Resources Development and Management Public Company Limited 42 42
  • 43. Tap Water Demand Jan-Jun 2012 (Excluded O&M Contract) Million Cubic Meter 9.58% 33.52 34.00 30.59 32.00 30.00 28.00 Jan-Jun 11 Jan-Jun 12 Remarks : CWS Increase 0.80 Million Cu.m. BWS Increase 0.83 Million Cu.m. Bowin Increase 0.28 Million Cu.m. Sattahip Increase 0.85 Million Cu.m. Rayong Increase 0.59 Million Cu.m. Eastern Water Resources Development and Management Public Company Limited 43 43
  • 44. Contents  Company Highlights  Operation Highlights  Financial Results Eastern Water Resources Development and Management Public Company Limited 44
  • 45. Tap Water Revenue & Net Profit Revenue Q2/2011 Vs. Q2/2012 (Consolidated) Net Profit Q2/2011 Vs. Q2/2012 (Consolidated) Million Baht Million Baht 12.29% 48.37% 232.74 261.35 40.23 300.00 60.00 27.12 200.00 40.00 100.00 20.00 - - Q2/2011 Q2/2012 Q2/2011 Q2/2012 Remarks : Remarks : CWS Increase 10 MB Satthahip Increase 8 MB CWS Increase 2 MB BWS Increase 3 MB Bowin Increase 4 MB Rayong Increase 5 MB Bowin Increase 3 MB Rayong Increase 3 MB CHonburi Decrease 4 MB BWS Increase 5 MB Samui Increase 3 MB Eastern Water Resources Development and Management Public Company Limited 45 45
  • 46. Tap Water Revenue & Net Profit Revenue Jan-Jun 2011 Vs. 2012 (Consolidated) Net Profit Jan-Jun 2011 Vs. 2012 (Consolidated) Million Baht Million Baht 9.10% 53.14% 465.09 507.42 73.67 600.00 100.00 500.00 48.11 400.00 300.00 50.00 200.00 100.00 - - Jan-Jun 11 Jan-Jun 12 Jan-Jun 11 Jan-Jun 12 Remarks : Remarks : CWS Increase 16 MB Satthahip Increase 12 MB CWS Increase 7 MB BWS Increase 5 MB Bowin Increase 6 MB Rayong Increase 9 MB Bowin Increase 4 MB Rayong Increase 6 MB Chonburi Decrease 5 MB BWS Increase 7 MB Samui Increase 4 MB Eastern Water Resources Development and Management Public Company Limited 46 46
  • 47. Tap Water Demand (Excluded O&M Contract) AVG. Growth 5.27% Million Cubic Meter 6.02% 5.16% 100 4.64% 76 80 68 72 75 50 34 25 - 2012 A 2012 E 2013 E 2014 E 2015 E 6 Mths Forecasted Eastern Water Resources Development and Management Public Company Limited 47 47
  • 48. Capex 2012-2014 Amount Year Description (MB) 2012 2013 2014 Universal Utilities Plant Capacity Expansion 498 410 88 0 Pipeline Expansion 79 28 29 22 M&E Replacement 252 87 91 74 Total 829 525 208 96 Plant Expansion 2012 Chonburi Project 250 MB (24,000 Cu.M./Day) 2012 Satthahip Project 160 MB (12,000 Cu.M./Day) 2013 BWS Project 88 MB (Expand 19,200 Cu.M./Day) Eastern Water Resources Development and Management Public Company Limited 48 48
  • 49. Capacity ลบ.ม./วัน ประปา/ปี มิ.ย.-55 ฉะเชิงเทรา 47,400 บางปะกง 43,200 นครสวรรค์ 22,200 ระยอง 86,400 สัตหีบ 31,200 บ่ อวิน 9,600 ชลบุรี 24,000 เกาะล้ าน 300 เกาะสีชัง 250 เกาะสมุย 3,000 หนองขาม 1,560 สัมปทาน 269,110 ราชบุรี 48,000 O&M 48,000 Easternรวม Resources Development and Management Public Company Limited Water 317,110 49 49
  • 50. Thank You www.eastwater.com Public Company Limited Eastern Water Resources Development and Management
  • 51. Aug 27, 2012 Water Situation Accumulated Rainfall (Jan 1 – Aug 27, 2012) Eastern Water Resources Development and Management Public Company Limited 51
  • 52. Water Situation El Niño / La Niña El Niño neutral La Niña Eastern Water Resources Development and Management Public Company Limited 52
  • 53. Water Situation Rayong Vs Chonburi Rayong Chonburi Accumulated rainfall (Aug 27, 2012) Accumulated rainfall (Aug 27, 2012) was 834.2 MM >>> Low was 592.6 MM >>> Very Low Eastern Water Resources Development and Management Public Company Limited 53
  • 54. Water Situation Cost from Drought Budgeting 2012 Volume (M.CM) 283.57 283.57 Cost of Goods Sold (unit: million baht) Raw Water 161.01 0.57 161.01 0.57 electricity 323.79 1.14 323.79 1.14 depreciation 250.00 0.88 250.00 0.88 other 126.92 0.45 126.92 0.45 drought protection expense 5.00 0.02 65.79 0.23 Total COGS 866.72 3.06 927.51 3.27 Eastern Water Resources Development and Management Public Company Limited
  • 55. 2Q2012 Performance Financial Summary: Product Mix Servic es&Re Others ntal 1% EASTW’s Total Revenue Breakdown 6% Tap by Line of Business Water 23% Raw * As of June 31, 2012 (1H) Water 70% Total Revenue*= 1,855.81 MB Raw Water Tap Water Raw Water Breakdown by Province Raw Water Breakdown by Tap Water Breakdown by Province Chacho Customers engsao General 1% Factories Others Rayong Chonburi 7% IEAT 22% 21% 26% 37% Private Estates Chonburi 25% 9% Sattahip Rayong 20% 73% Consumption Chacoen Bangpak 32% gsao ong 15% 13% Raw Water Revenue*= 1,296.14 MB Raw Water Revenue*= 1,296.14 MB Tap Water Revenue*= 417.41 MB Eastern Water Resources Development and Management Public Company Limited * As of June 31, 2012 (1H) 55
  • 56. 2Q2012 Performance Tap Water Revenue and Costs Breakdown Revenue & Total Cost of Tap Water (Consolidated Jan-Jun) Total Cost of Tap Water Breakdown (Consolidated Jan-Jun) 120% Tap Water cost structure 100% 6.55% 7.24% 600 507.42 465.09 80% 500 34.30% 36.91% 400 60% 0.77% 11.47% 0.83% 300 5.92% 12.55% 200 40% 7.87% 5.69% 82.53% 78.37% 7.63% 100 20% 0 33.12% 29.15% Jan-Jun 11 Jan-Jun 12 0% Jan-Jun 12 Jan-Jun 11 Raw Water Staff Cost Total Cost Revenue Electricity Depreciation (Exclude Tax and Interest) Chemical Cost of Services Others Eastern Water Resources DevelopmentTotal Cost Exclude Cost Allocation ,Tax and Interest Expense. Remarks : and Management Public Company Limited 56 56
  • 57. Water Situation Raw Water Demand 2011-2022 600 459 Chacheongsao 377 4 (MCM./year) 400 269 292 3 60 Borwin-Pluakdang Demand 2 3 48 111 21 23 101 Chonburi 69 79 200 284 Rayong 176 187 225 0 Year 2011 2554 2012 2555 2017 2560 2022 2565 Area Rayong Chonburi Borwin-Pluakdang Chacoengsao Major Customers Major Customers Major Customers Major customers -Laem Chabung Industrial -Power plant in ESIE, CIE, -Maptaphut Industrial Estate Estate H-ESIE, TNP2 -Chonburi Waterworks -Petrochem. Customers in EIE , Asia - Nong Klang dong (+) Factor Industrial Estate, RIL1996 , PTT UU –Thai oil Complex -Laem Chabung , Pattaya , -Satthahip Sri-racha Waterworks Waterworks (-) Factor Rayong power plant - - Baan-chang Waterworks Demand increase 38.5 Eastern Water Resources Development and Management Public Company Limited 21.5 25 1 (MCM.) 57
  • 58. Water Situation Raw Water Demand and Supply 2012-2022 2012 2017 2022 Capacity of pipe line system (MCM.) 351.0 456.0 456.0 (Plus NPL3-105 MCM) Supply (MCM.) 281.5 372 394.5 Demand (MCM.) 283.7 365.9 445.7 Demand + NRW 3% (MCM.) 292.2 376.9 459.1 Eastern Water Resources Development and Management Public Company Limited 58
  • 59. Water Situation Existing Supply 2012 2012 2012 Total Sale Volume 284 Eastern Water Resources Development and Management Public Company Limited 59