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Agenda
Company’s InformationBusiness operationCompetitive StrategyCurrent ProjectFinancialCurrent BacklogBJCHI Stock information
Company’s Information
Company’s Information
Company nameTypes of Business
Company Registration NumberRegistered CapitalPaid-up CapitalNumber of Common SharesPar Value
Address of HeadquartersTelephone NumberFacsimile Number
HomepageE-mailInvestor Relation
BJC Heavy Industries Public Company LimitedProvision of Steel fabrication, Modularization, Site erection and Precast concrete services for industry usage
0107556000302320,000,000 Baht320,000,000 Baht320,000,000 Shares1.00 Baht per Share
No. 594 Moo 4, Makhamkoo Sub-district, Nikompattana District, Rayong Province 211800-3889-37090-3889-3711
[email protected] : 0-3889-3709E-mail : [email protected]
Area Layout
Total area 240,000 M2
Total area 25,462 M2 Total area 52,000 M2
Company History
BJC Heavy Industries Public Company Limited (the “Company”) was established under the name of “BJC Industrial Limited” on April 19, 1994 by a group of engineers from South Korea. The Company’s major developments are as follow:
1994 • BJC Industrial Limited was established at 152 Nernpayom Road, Map Ta Phut Sub-district, Muang District, Rayong
Province with the initial registered capital of Baht 24 million, engaging in the business of manufacturing of engineering equipment,mainly Fired heater & Reformers.
1996 • A group of BJC Industrial Limited’s executives acquired the entire issued shares from other founders.
2001
• The Company relocated its office to 594 Moo 4 MakhamKoo Sub-district, Nikompattana District, Rayong Province and changed name to “BJC Construction Industry Limited”
• The Company expanded services to cover overseas clients via ITT, an Italian contractor that specializes in designing andmanufacturing Fired heaters & Reformers for particular use in oil, petrochemical and gas industries.
2005• The Company established “BJC Plant Industrial Limited” (“BJCP”), a subsidiary engaging in construction of industrial
plant sand other general construction, including all types of civil works, with initial registered capital of Baht 30 millionwhich was subsequently increased to Baht 40 million.
2006 • The Company commenced the fabrication and Modularization services for projects in Australia.
Company History
2008
• The Company acquired BJCP by transferring entire BJCP’s business to the Company and BJCP was dissolvedcompletely
on December 23, 2008.
• On May 14, 2008, the Company invested in a 20% stake of Thermal Engineering Service Limited (“TES”), a provider of
engineering design services. TES was closed on February 23, 2012.
• The Company commenced Site erection service, providing Steel fabrication services that include Site erection service
at clients’ location. In 2008, the Company provided Site erection service for a mining project in Democratic Republic of the
Congo.
2009 • The Company expanded its scope of services to include Precast concrete work for industrial use, such as breakwater
coast project in Australia.
2011 • The Company changed its name to “BJC Heavy Industries Limited” on July 22, 2011 to reflect the Company’s nature of
business.
2013
• The Company transformed into a public company limited and changed its name to BJC Heavy Industries Public Company
Limited.
• All common shares of the Company were listed on the Stock Exchange of Thailand on November 28, 2013 through the
Initial Public offering (IPO) of 80 million new shares. After the IPO, the Company’s paid-up capital increased to Baht 320
million.
Business operation
Competitive Strategy
Product & Service Quality
- Focus on the quality of products which must be examined in every step of production
- Product quality has been accredited by well-known institutions such as ASME&NBIC
- Incorporate advanced technology with production to improve productivity
Variety of Products & Service- Provide various product & services used in production process of industrial
plant such as fabrication, modularization, site erection & Precast concrete
Continuously Increasing Capacity
- To continuously expand production capacity to support future backlog- Continue to improve production efficiency both human capital production
facilities, modern machinery to support production of large project from international client worldwide
Competitive Strategy
Customer Base Enhancement
- Current customer base includes both EPC contractor & project owner- To expand its customer base in the focus industry such as mining, energy,
petrochemical and to secure more backlog from EPC as well as to provide contact windows for client to access information about company product and services
Delivery of Product & Service on time
- Focus on delivery of product & service on time- The company will examine lead time of raw material as well as production &
installation duration before engaged work from client
Efficient Logistic Management- Strategic location of production facility is near port which enhance the logistic
management of the company for export products to international client
Current Project
Petrobras
Customer : QGI Brazil S.A.Location : BrazilProject : FPSO Petrobras P75 & P77Period : 2014 - 2015Work Volume : Total: 21,817 Tons
Current Project
APLNG Wellhead SeparatorsCustomer : Origin Energy Resources Ltd.Location : Port Headland in AustraliaProject : Australia Pacific LNG Upstream Period : 2014 - 2015Work Volume : Total: 390 Skids
Current Project
Cape Lambert Port B ProjectCustomer : Laing O'Rourke AustraliaLocation : AustraliaProject : Cape Lambert Port B ProjectPeriod : 2013 - 2014Work Volume : Total: 4,734 Tons
Current Project
Wheatstone ProjectCustomer : EVTLocation : West AustraliaProject : Wheatstone Project LNG PlantPeriod : 2014Work Volume : Total: 2,200 Tons
FinancialFinancial Highlights
Financial Position (Million Baht) 31 March 2013 31 March 2014
Total Assets 2,306.68 4,993.18
Total Liabilities 1,069.52 433.20
Total Shareholders' Equity 1,237.16 4,559.97
Registered, Paid-up Capital 240.00 320.00
Financial Performance (Million Baht) 31 March 2013 31 March 2014
Contracted Revenues 1,410.48 854.11
Other Income 5.89 46.46
Contracted Cost 932.66 640.46
Selling, General & Administrative Expenses 81.87 90.73
Other Expenses 29.10 -
Finance Costs 0.17 0.20
Tax Expenses 1.25 0.98
Net Profit 371.32 168.19
FinancialFinancial Highlights
Financial Ratio 31 March 2013 31 March 2014
Gross Profit Margin (%) 33.88% 25.01%
Net Profit Margin 26.22% 18.68%
Liquidity Ratio 1.69% 8.99%
Return on Equity (%) 38.16% 3.76%
Return on Assets (%) 17.48% 3.42%
Debt to Equity Ratio (Times) 0.86 0.10
Book Value per Share* (Baht) 5.15 14.25
Earnings per Share* (Baht) 1.64 0.53
Financial
Revenue Structure
31 March 2013 31 March 2014
Storage Tank - 196.62
Modularization 1,178.52 391.50
Steel Structure 231.96 265.69
Others - 0.30
Total 1,410.48 854.11
197
1,179
392
266
232
0.3
0
500
1,000
1,500
Q1/2013 Q1/2014
Millio
n Ba
ht
Strange Tank Modularization Steel Struture Others
Financial
Profitability
31 March 2013 31 March 2014
Gross Profit 477.82 213.65
Operating Profit
366.85 122.92
Net Profit 371.32 168.19
478
214
367
123
371
168
-
100
200
300
400
500
Q1/2013 Q1/2014
Millio
n Ba
ht
Gross Profit Operating Profit Net Profit
33.88%
25.01%26.01%
14.39%
26.22%
18.68%
10%
20%
30%
40%
Q1/2013 Q1/2014Gross Profit Margin Operating Profit Margin
31 March 2013 31 March 2014
Gross Profit Margin 33.88% 25.01%
Operating Profit Margin 26.01% 14.39%
Net Profit Margin 26.22% 18.68%
Profitability Ratios
Financial
ROA & ROE
31 March 2013 31 March 2014
ROA 17.48% 3.42%
ROE 38.16% 3.76%
17.48%
3.42%
38.16%
3.76%0%
20%
40%
Q1/2013 Q1/2014ROA ROE
2,307
4,993
1,070 433
1,237
4,560 0.86
0.10 0.0
0.2
0.4
0.6
0.8
1.0
- 1,000 2,000 3,000 4,000 5,000 6,000
Q1/2013 Q1/2014
Time
Millio
n Ba
ht
Total Assets Total Liabilities Shareholders' Equity D/E Ratio (time)
31 March 2013 31 March 2014
Total Assets 2,306.68 4,993.18
Total Liabilities 1,069.52 433.20
Shareholders' Equity 1,237.16 4,559.97
D/E Ratio (times) 0.86 0.10
Financial Position
Current Backlog
PS: CVO or Additional work about 10-20% did not included.
Current Secured Backlog after Q1
Project Client Name Project
Scope of Work Project Value
(MB) Year Awarded
Recognized
Revenue
(MB)
Backlog (MB)
Location Total
WHS- FID 2 APLNG Australia Modularization 965 2011 369 596
Cape Lambert Port B Phase B LOR Australia Modularization 687 2013 676 11
Libya Zwitina DAEWOO Libya Storage Tank 25 2013 25 0
Wheastone Entrepose Australia Storage Tank 228 2013 109 119
UTE/500MW CCPP HDEC Uruguay Storage Tank 39 2013 33 6
Linear Alkybenzene HDEC Thailand Storage Tank 50 2013 25 25
Petrobras, Brazil (P-75, P-77) QGI Brazil Modularization 1,190 2014 - 1,190
Petrobras, Brazil (P-75, P-77)
with & without supply of
materials Price Rev.02QGI Brazil Piping 480 2014 - 480
Petrobras, Brazil M01-Flare
System Equipment Rev.01
(RFQ-071)QGI Brazil Modularization 176 2014 - 176
Petrobras, Brazil M09-Pig
Launcher/ Receivers Rev.01QGI Brazil Modularization 797 2014 - 797
Petrobras, Brazil M15-Utilities
Rev.01 (RFQ-071)QGI Brazil Modularization 166 2014 - 166
Roy Hill Iron Ore Project,
Package 3 SMP E&I, Australia
Rev.05Roy Hill (LOR) Australia Steel Structure 598 2014 - 598
Cape Lambert Port B Phase C
package 3LOR Australia Steel Structure 251 2014 - 251
Total 5,651 1,237 4,414
High Potential
High Potential Bidding Project
Project Location Scope of Work Project Value (MB)
Brazil Vessel 573
Australia Steel Structure 327
Australia Modularization 500
Total 1,400
BJCHI Stock information
Lee’s Family74.45%Foreign
investors0.23%
Institutional Investors10.66%
Other Local investors14.66%
Share structure
Lee’s Family 238,250,000 74.45%
Foreign investors 730,000 0.23%
Institutional Investors 34,115,900 10.66%
Other Local investors 46,904,100 14.66%
320,000,000 100.00%
Shares
Price (as of 04 Jun 2014) : 39.25 THB per ShareSector : Construction ServicesShares : 320 M Shares (Par 1 THB/share)Market Capitalization : 12,560 M THBDividend policy : At least 50% of net profit
Percentage
Question & Answer
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