Your SlideShare is downloading. ×
0
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
สรุป JMART & JMT Company Visit วันที่ 12/07/13
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

สรุป JMART & JMT Company Visit วันที่ 12/07/13

855

Published on

สรุป JMART & JMT Company Visit วันที่ 12/07/13

สรุป JMART & JMT Company Visit วันที่ 12/07/13

Published in: Technology, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
855
On Slideshare
0
From Embeds
0
Number of Embeds
9
Actions
Shares
0
Downloads
10
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Photo Album by Songsak (ที่ปรึกษา Marcom)JAYMART PUBLIC COMPANY LIMITED Company Presentation June 2013 Page 1 July 02,2013
  • 2. Company Structure • Establish 1988 (25 Years) • Mobile Retail • Listed June 25, 2009 • Collection Service • Debt Acquisition • Listed Nov 27, 2012 • Property Rental • Listed Q3, 2014 (Target) • Establish 2013 • Investment in AEC Page 2 July 02,2013
  • 3. Share Capital Information Major Shareholder (as of May 31,2013 ) Price (May27 2013 : Bt 27 Miss Yuvadee Pong-acha 19% Mr. Adisak Sukumvitaya 18% Hi/Low(12-Month) : 30Bt/7Bt Miss Juthamas Sukumvitaya 8% Mr. Ekachai Sukumvitaya 8% Mrs. Waranee Sukumvitaya Family 53% No. of shares : (Par Bt 1) Mrs. Waranee Sareviwattana 4% Mrs. Niwes Semvachiravarakorm 2% Market Capitalization : 11,226 Mr. Naret Ngamapichon 1% ( 31/5/2013 ) Mrs. Bumrung Sringam 1% Mr. Piranart Chokwatana 1% First trade date : June 25,2009 Free float 47% Divident payment 2009 2010 2011 2012 Divident payment (Bt/Share) Bt 0.23 Bt 0.24 Bt 0.40 Bt 0.56 Dividends Yield (Bt/Share) 13.8% 7.6% 6.7% 4.0% Base on financial statement (Cosolidated) Page 3 July02,2013
  • 4. Thailand Market Size 12 15 20 30 40 0 20 40 60 2011 2012 2013 2014 2015 Operator Mil.subscribers 35 25 20 80 Unit: Million Set 2011 2012 2013 2014 2015 Handsets and Tablet 80 Thailand market Handset model not operator subsidy (poor credit record) 65 Million population Penetration 120% (80 Mil.) 3G license granted 16th Oct,2012 Network expansion 80% in 2013 Today only 20% handsets can work on 3G 80% expects to migrate to 3G in 3 years. Page 4 July 02,2013
  • 5. Opportunity 64 62 40 16 30 60 110 0 50 100 150 Unit: Million Number • License granted Oct 16, 2012 • Network expansion 80% in Y13 • 100% migration from 2G to 3G in 3 year • Today operator pay profit sharing to TOT&CAT around 20-30% • 3G license the fee to NBCT only 5-7% • Tablet will replace PC • Mobile phone will replace camera 0 2012 2013 2014 2015 2G 3G Page 5 July 02,2013
  • 6. Mobile Market Size YEAR YEAR YEAR 2011 2012 2013* Sales Value (Mil.B) MB Market 50,000 60,000 72,000 Jaymart 4,840 6,776 10,000Jaymart 4,840 6,776 10,000 %Share 10% 11% 14% Sales QTY (Mil. Sets) QTY Market 16 16 18 Jaymart 1.0 1.1 1.5 %Share 6% 7% 8% Page 6 July 02,2013
  • 7. 4,523 6,323 821 854 956 994 1,097 800 1,000 1,200 5,000 6,000 7,000 Unit: Million Baht Business Performance 3,869 3,796 3,901 4,523 1,475 1,888 271 302 0 200 400 600 800 0 1,000 2,000 3,000 4,000 5,000 2008 2009 2010 2011 2012 Q1/12 Q1/13 Mobile Phone (MB) Unit (Thousand) 28% 40% Page 7 July 02,2013
  • 8. Revenue by Product Segmentation 90% 64% 36% 61% 63% 64% 50% 60% 70% 80% 90% 100% 10% 0% 36% 0% 31% 8% 20% 18% 10% 26% 0% 10% 20% 30% 40% 50% Featured Phone Smart Phone Tablet 2009 2010 2011 2012 Q1/13 Page 8 July 02,2013
  • 9. Average Selling Price 4,542 4,481 4,869 5,578 5,824 5,727 6,192 6,873 6,250 3,556 4,000 4,1004,000 5,000 6,000 7,000 8,000 +52% 3,002 3,014 2,903 2,909 3,224 3,422 3,556 4,000 4,100 - 1,000 2,000 3,000 4,000 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Jaymart Market 52% better than market Source : GFK Page 9 July 02,2013
  • 10. 28 29 29 34 43 46 51 62 62 8 8 8 10 13 14 17 20 20 10 20 30 40 50 60 70 Unit in MB Accessories 8 8 8 10 - 10 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 SALES MARGIN 43 62 13 20 - 20 40 60 80 Q1/12 Q1/13SALES MARGIN Unit in MB 45% YOY Performance 85% sale growth 100% margin growth Page 10 July 02,2013
  • 11. Channel Distribution (Q1-2013) 48% 52% 66% 34% Contribution RatioDistribution Ratio Expansion plan in 3Y Y 2012 Y 2013 Y 2014 Total Stores 220 280 (June 240) 300 52% Greater BKK Upcountry Greater BKK Upcountry Page 11 July 02,2013
  • 12. Revenue by Sales Channel 67% 65% 67% 73% 70% 73% 75% 79%60% 80% 100% 120% 33% 35% 33% 27% 30% 27% 25% 21% 67% 65% 67% 73% 70% 73% 75% 79% 0% 20% 40% 60% 2006 2007 2008 2009 2010 2011 2012 Q1/13 Retails Wholesales Page 12 July 02,2013
  • 13. Inventory Turnover 50.13 38.39 73.46 39.61 36.74 39.60 44.5940 50 60 70 80 38.39 36.74 44.59 0 10 20 30 40 Y2007 Y2008 Y2009 Y2010 Y2011 Y2012 Q1/2013 Days Page 13 July 02,2013
  • 14. Our Partners Mobiles Accessories Operators Note : The only one retail shop in thailand , multi brands and multi operators Page 14 July 02,2013
  • 15. Our Stores Retail Stores: 160 Jaymart Smartphone&Tablet 10Jaymart 134 Consignment: The Mall/BigC Samsung Brand Shop 6 Consignment: 80 Franchise: 4 Page 15 July 02,2013
  • 16. Accessories Shop / Corner Page 16 July 02,2013
  • 17. Jaymart Quality Service Page 17 July 02,2013
  • 18. Jaymart Quality Service Standardization – Service Blueprint Page 18 July 02,2013
  • 19. Jaymart Mobile Show 2013 Mobile Festival 2013 Mobile Show in upcountry 2013 Seacon Square Thailand Mobile 2013 Jaymart Mobile Show Seacon Square Central Ladprao The Mall Bangkapi Fashion Island Korat Chiangmai Central The Mall Fashion QSNCC Mobile Gadget 2013 NewNew Page 19 July 02,2013
  • 20. Jaymart Mobile Show Page 20 July 02,2013
  • 21. Contest Jaymart Mobile Show Seacon SquareSeacon SquareSeacon SquareSeacon Square Srinakarin CentralCentralCentralCentral Ladprao The MallThe MallThe MallThe Mall Bangkapi FashionFashionFashionFashion Island Page 21 July 02,2013
  • 22. Jaymart Mobile Show Page 22 July 02,2013
  • 23. Jaymart Mobile Show Page 23 July 02,2013
  • 24. Jaymart Mobile Show Page 24 July 02,2013
  • 25. Strength Over 20 years experience Company listed in Thailand stock exchange (SET) 2009 Rank Number1 mobile retail in Thailand Leader in mobile retail store and mobile showLeader in mobile retail store and mobile show Leader in mobile market place (IT Junction) The only one multi operators / multi brands in Thailand market Page 25 July 02,2013
  • 26. Company Structure Page 26 July 02,2013
  • 27. JAS Asset Company Limited • Start in year 2003 • Today 34 IT Junction and target total 45 by end 2013 (2014 expect to reach 50 IT Junction)to reach 50 IT Junction) • Rent to 1,200 mobile phone dealers, 11,000 sq.m • JAS Asset Company Limited spin off in year 2012 (Plan to IPO in year 2014) Page 27 July 02,2013
  • 28. IT Junction Locations 34 Branches ~1,200 Units / 11,000 Sq.m. Page 28 July 02,2013
  • 29. Our Stores: IT Junction : Page 29 July 02,2013
  • 30. Our Stores: IT Junction Page 30 July 02,2013
  • 31. Our Stores: IT Junction Page 31 July 02,2013
  • 32. MKT& CRM Activity Page 32 July 02,2013
  • 33. 6% J MARKET @ AMORNPAN Concept: Neighborhood market Investment: 30 mb Opening: June 2012 Page 33 July 02,2013
  • 34. 6% J MARKET @ WANGHIN Concept: Neighborhood market Investment: 370 mb Opening: Sep 2014 Page 34 July 02,2013
  • 35. Strength Strong teamwork , experience more than 15 years. High growth business (Telecom). Economy of scale, low cost – High margin Strong Brand “IT Junction” Good business modelGood business model Strong growth both profit and revenue Page 35 July 02,2013
  • 36. Company Structure • Collection Service • Debt Acquisition • Insurance Broker Page 36 July 02,2013
  • 37. Total personal loan vs NPL 2.28% 2.10% 2.20% 2.30% 2,500,000 3,000,000 3,500,000 Unit: Million of Baht Unit: % NPL 2,069,693 2,396,633 2,916,64947,189 46,974 56,583 1.96% 1.94% 1.60% 1.70% 1.80% 1.90% 2.00% 2.10% - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 Q4/2010 Q4/2011 Q4/2012 Total loans NPL-Personal Consumptions % to Total loans Source of data : Bank of thailand Page 37 July 02,2013
  • 38. NPL Market Debt Collection Service Debt Acquisition NPL Market JMT is the bigest collection company Small collection company JMT is the only one in market Page 38 July 02,2013
  • 39. JMT Portfolio 13,609 21,286 23,701 13,707 12,238 15,000 20,000 25,000 Unit in MB 6,493 9,256 10,140 12,238 - 5,000 10,000 2009 2011 2012 2013(Q1) Debt Acquisition Debt Collection service Page 39 July 02,2013
  • 40. Portfolio Debt Acquisition 40,000 50,00050,000 60,000 Unit in MB 13,609 21,286 23,701 30,000 40,000 - 10,000 20,000 30,000 40,000 2011 2012 2013(Q1) 2013(F) 2014(F) 2015(F) Page 40 July 02,2013
  • 41. 381 494 400 500 600 Cash in of Debt Acquisition (Million Baht) Unit in MB 39 81 153 108 125 - 100 200 300 2008 2009 2010 2011 2012 2012(Q1) 2013(Q1) Page 41 July 02,2013
  • 42. Debt Acquisition Performance Cash collect Cash collect Revenue Port Size No. Year Port Size Investment Cash Collect Of Investment Of OS IRR Method Remaining Aging (MB) (MB) (MB) (%) (%) (MB) (MB) (Year) 1 Y 2006 1,031 39 133 340% 13% 94 858 4 – 11 2 Y 2007 166 16 27 168% 16% 11 133 2 – 4 3 Y 2008 1,041 49 117 239% 11% 69 893 1 – 7 4 Y 2009 1,745 74 219 296% 13% 146 1,476 0 – 11 5 Y 2010 2,446 122 156 128% 6% 81 2,248 0 – 6 6 Y 2011 7,114 384 485 126% 7% 230 6,567 0 – 5 7 Y 2012 8,474 399 186 47% 2% 94 8,267 0 – 5 8 Y 2013 1,637 110 3 3% 0% 1 1,633 0 – 5 Total 23,654 1,193 1,326 111% 6% 725 22,075 Page 42 July 02,2013
  • 43. Revenue and Net Profit Development 93 81 83 67 85 101 103 106 94 16 17 18 16 20 30 28 32 28 0 10 20 30 40 - 20 40 60 80 100 120 RevenueQ1/2013 Hire purchase 3% Collection Service 26% Acquisition 71% Gross profit margin Q1/2013 Acquisition 83% Collection Service 12% Hire purchase 5% 0- Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 TOTAL REV. NET PL Page 43 July 02,2013
  • 44. Financial Ratio 24 39 44 27 27 19 19 18 Page 43 July 02,2013 14 19 19 18 15 0.66 1.25 1.10 0.14 0.07 2009 2010 2011 2012 Q1 /13 % ROE % ROA D/E
  • 45. Financial Statement Jaymart Group Page 44 July 02,2013
  • 46. Margin 1,723 2,187 11% 13% 11% 11% 12% 12% 13% 13% 14% 500 1,000 1,500 2,000 2,500 85 93 50% 51% 50% 50% 51% 51% 52% 80 82 84 86 88 90 92 94 Mobile Business JMT Business 10% 11% - Q1/12 Q1/13 Rev. (MB) 61 77 20% 20% 0% 5% 10% 15% 20% 25% 0 20 40 60 80 100 Q1/12 Q1/13 Rev. (MB) 50%80 Q1/12 Q1/13 Rev. (MB) Rental Business Page 45 July 02,2013
  • 47. Jaymart Group Performance 53% 1,868 2,357 78 60 70 80 90 2,000 2,500 Unit: MB 26%51 78 - 10 20 30 40 50 60 - 500 1,000 1,500 Q1/12 Q1/13 TOTAL REV. NET PL Page 46 July 02,2013
  • 48. Unit: MB Jaymart Performance 1,329 1,437 1,612 1,677 1,868 1,851 2,036 2,354 2,357 148 78 100 120 140 160 1,500 2,000 2,500 104 1,329 1,437 25 38 50 58 51 68 81 78 0 20 40 60 80 100 - 500 1,000 1,500 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 TOTAL REV. NET PL • Q4/12 have 44mb gain for fair value of the property 104 Page 47 July 02,2013
  • 49. ROEROE Financial Ratio 23 16 27 29 26 ROAROA D/ED/E 16 15 7 5 7 11 13 13 1.50 1.31 0.92 1.05 0.75 0.71 2008 2009 2010 2011 2012 Q1 /13 % ROE % ROA D/E Page 48 July 02,2013
  • 50. Jaymart Group JAYMART GROUP Revenue Structure Y2012 Y2013* Y2014 Y2015 JAYMART 93% 93% 94% 94% JMT 4% 4% 3% 3% JASASSET 3% 3% 3% 3% 100% 100% 100% 100% Page 48 July 02,2013 100% 100% 100% 100% Profit Structure Y2012 Y2013* Y2014 Y2015 JAYMART 60% 60% 70% 70% JMT 35% 33% 18% 18% JASASSET 5% 7% 12% 12% 100% 100% 100% 100% Remark : Year 2013 update Q1
  • 51. “Jmart” Historical stock market price Page 49 July 02,2013
  • 52. PE Compare Sector SECTOR COMMERCE Name Last MCap (M) P/E P/BV D/E Average 85.86 70,876.31 35.88 5.89 0.97 CPALL 40.25 361,570 32.09 12.16 1.43 MAKRO 772 185,280 50.06 15.61 1.89 BIGC 197.5 162,938 28.41 4.86 1.74 HMPRO 14 115,075 41.18 10.85 1.56 BJC 55.5 88,257 35.46 6.06 1.62 ROBINS 69 76,636 37.57 7.08 0.56 SECTOR ICT Name Last MCap (M) P/E P/BV D/E Average 30.12 64,911.40 27.98 5.4 3.47 ADVANC 255 758,139 21.13 19.74 2.02 DTAC 115 272,298 23.74 7.92 2.05 INTUCH 82.25 263,728 18.43 12.79 1.08 JAS 8 57,099 23.68 5.88 0.91 THCOM 33.5 36,714 79.17 2.59 0.73 SAMART 26.25 26,128 22.41 4.41 2.47 ROBINS 69 76,636 37.57 7.08 0.56 GLOBAL 23.9 62,456 81.72 5.41 0.38 OFM 61.75 19,760 54.2 4.51 0.47 SPC 43.5 13,851 12.95 1.44 0.71 LOXLEY 6.3 13,230 18.43 2.56 1.74 SPI 25 12,351 9.84 0.81 0.31 BEAUTY 27.5 8,250 45.9 8.07 0.11 SINGER 24.4 6,588 25.42 5.14 1.31 KAMART 8 4,800 25.81 7.92 0.35 SAMART 26.25 26,128 22.41 4.41 2.47 SIM 4.08 17,703 58.29 6.28 0.77 SAMTEL 24 14,665 15.76 4.83 3.39 JMART 23 9,563 25.56 5.74 1.1 CSL 12.2 7,253 16.67 6.45 0.95 FORTH 6.85 6,576 32.5 3.87 1.74 AIT 88 6,052 13.96 3.68 2.01 SYMC 18.8 5,640 24.8 4.48 0.29 MFEC 9.55 4,206 17.55 2.34 1.23 SYNEX 4.36 3,341 8.23 1.59 1.4 IEC 0.04 2,761 16.09 MLINK 4.76 2,570 0.91 14.79 6.82 MSC 5.05 1,818 7.66 1.44 1.34 SVOA 2.14 1,513 26.5 1.17 2.39 PT 10.6 1,505 14.19 4.15 2.68 Page 50 July 02,2013
  • 53. Jaymart in Myanmar Page 51 July 02,2013
  • 54. Summary Population VS Mobile Sub NO. Country MB Penetration 1 Vietnam 140% 2 Thailand 128% Page 52 July 02,2013 2 Thailand 128% 3 Cambodia 94% 4 Loas 93% 5 Myanmar 5%
  • 55. Business Direction in Myanmar Page 53 July 02,2013 Mobile phone and accessories Home electronic appliance & IT Products
  • 56. 1. Jaymart Mobile Retail shop of Mobile phone, accessories and gadgets 2013 : 20 shops 2014 : 30 shops “Aim to be leader in Mobile business in 2015” Page 54 July 02,2013
  • 57. 2. Jaymart All-in-one place offering a wide variety of electric appliances, IT Products and mobile phones. 2013 / Q4 : 1 shop 2014 : 2 shops “Aim to be leader in 2017” Page 55 July 02,2013
  • 58. Alternative : Mobile Junction Opportunity for - Mobile Junction – area developer for Mobile zone in department store where facilitate tenants with mobile cabinet. Mobile Junction need huge space and more investment therefore we need time to explore Myanmar market for consideration. Once the market is ready we will be able to move forward. Page 56 July 02,2013
  • 59. Jaymart in Myanmar Page 57 July 02,2013 Junction Square Dagon Center Yankin Center
  • 60. Shareholders in J&P (Thailand) J&P Thailand 40% 25% 25% 10% Page 58 July 02,2013 40% 25% 25% 10%
  • 61. Project Investment Page 59 July 02,2013 **Source of fund : increase capital from existing shareholders
  • 62. Q&AQ&A Page 58 July 02,2013

×