Business Summary March 21, 2017

(1)

(2)

Outline

2 Company

Overview

Financial

Overview

Industry

Overview

Future

Outlook

(3)

Bored

Pile

Barrette

Pile

Diaphragm

Wall

Soil

Improvement

founded in 2002

3

(4)

(5)

Performance Timeline

95 220 289 520 379 726 597 631 948 1,096 1,303 1,380 1,237 1,077 ??? 1 18 36 18 ₁₁ 58 21 32 76 64 159 196 202 172 ??? 0 50 100 150 200 250 300 350 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Revenues

Net Profits

Revenues (MB)

Net Profits (MB)

5 founded

in 2002

Listed in

mai

Overview

(6)

Bored Pile/ Barrette Pile



For foundation of buildings,

bridges, factories, roads,

etc.

6 Company

Overview

(7)

Diaphragm Wall



For soil retaining system and

permanent wall of deep

basement, underpass tunnel,

subway station, etc.

7

(8)

Jet Grouting



For ground improvement of

soil stability and strength :

road works, airport runway,

slope protection, dam, etc.

8 Company

Overview

(9)

Airport Rail Link

233.5 MB (Bored Piles)

We Build Impression!

9 Overview

ShowDC

162.1 MB (Bored Piles)

Landmark Waterfront

300.6 MB (Bored Piles

/ Jet Grouting)

Central Westgate

137.4 MB (Bored Piles)

The ICONSIAM

169.4 MB (Bored Piles

/ Jet Grouting)

The One Residence

219.0 MB (Bored Piles)

EGAT Car park & HQ

222.2 MB (Bored Piles

/ Constructions)

Samyarn Mitrtown

250.0 MB (Bored Piles

/ D-Wall)

(10)

We Build Impression!

10 Company

Overview

Starview

77.0 MB (Bored Piles)

Metro Avenue

83.5 MB (Bored Piles)

Le Luk Condo

(A+B)

89.0 MB (Bored Piles)

TC Green I/II

95.5 MB (Bored Piles)

Siam Square (Block L)

101.0 MB (Bored Piles)

Klong Suvarnabhumi

108 MB (Jet Grouting)

IKEA Westgate

91.6 MB (Bored Piles)

AIA - CMC

133.6 MB (Bored Piles)

(11)

We Build Impression!

11 Overview

Suwanbabhumi

Fire Rescue Stations

57.0 MB (Jet Grouting)

AIA - Sathorn

62.6 MB (Bored Piles)

Amanta Condo Rama4

62.5 MB (Bored Piles)

Thai National Assembly

65.9 MB (Bored Piles)

BMA Building

67.0 MB (Bored Piles)

Circle Living Prototype

69.0 MB (Bored Piles)

South Interchange

71.8 MB (Bored Piles)

Equinox Phahol-Vibha

(12)

Share Capital Information

12 Company

Overview

Price (B)

12.60 52 weeks High/Low (B)

14.00/9.25

No. of shares (MS)

374.94 Market cap (MB)

4,724.20

Major shareholders (%)

As of Aug 26, 2016

1. Sangarayakul Family (52.60%)

2. Thai NVDR (7.49%)

Free float (%)

As of Mar 20, 2016

38.55%

First-day trade (mai)

Dec 23, 2005

First-day trade (SET)

Aug 06, 2015

(13)

Executives

13 Overview

Dr. Chanet Sangarayakul President Age : 43 Education :

 Doctor of Engineering (structure), Asian Institute of Technology

 Master of Engineering (structure), Asian Institute of Technology

 Bachelor of Engineering (civil), Chulalongkorn University

Mr. Pisun Sirisuksakulchai

Senior Executive Vice President

Age : 43

Education :

 Master of Art in Business Law, Chulalongkorn University

 Master of Business Administration(MBA), Rockhurst University (USA)

 Master of Science (Construction Management), University of Wisconsin-Madison (USA)

Mr. Bordin Sangarayakul

Age : 42

Education :

 Master of Science (Construction Engineering and Management), Virginia Tech (USA)

Mr. Somsak Viriyapipat

Age : 58

Education :

 Bachelor of Engineering (mechanic), King Mongkut’s Institute of Technology North Bangkok

(14)

Outline

14 Financial

Overview

Company

Overview

Industry

Overview

Future

Outlook

(15)

Financial Highlights : Q4/2016

15 Overview

Q4, 2016

GP : 27.6% and NP : 19.2%

ROA : 18.7% and ROE : 20.2%

(Maintain over 20% G.P. and 10% N.P.)

Profitability

As of Dec 31, 2016

• 289 MB in cash and cash equivalent

Current Ratio : 3.03 and

D/E Ratio : 0.28

(Very High liquidity and very low debt)

Financial Status

Q4, 2016

Revenue : 273.8 MB

Gross Profit : 75.5 MB

Net Profit : 52.7 MB

Performance

Backlog

As of March 20, 2017

504.8 MB

(16)

Revenues & Profits: Consolidated

2012 2013 2014 2015 2016 Q1 370 265 338 326 245 Q2 211 337 336 375 253 Q3 214 388 323 254 291 Q4 295 304 371 267 274 Year End 1,090 1,294 1,368 1,221 1,063 %G.P. 11.1% 20.7% 22.3% 25.1% 24.4% %N.P. 5.9% 12.3% 14.3% 16.5% 16.2% 370 265 338 326 ₂₄₅ 211 337 336 375 253 214 388 323 254 291 295 304 371 ₂₆₇ ₂₇₄ 1,090 1,294 1,368 _1,221 1,063 11.1% 20.7% 22.3% 25.1% _24.4% 5.9% 12.3% 14.3% 16.5% _16.2% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 0 250 500 750 1,000 1,250 1,500 1,750 Re venue ( M illi on B aht )

Q1

Q2

Q3

Q4

Year End

%G.P.

%N.P.

16 Financial

Overview

(17)

Revenue Structure

: 2016

17 Outlook

99.7, 9.4%

146.8, 13.8%

680.8, 64.1%

128.2, 12.1%

6.4, 0.6%

Million baht

Government sector

(Labor and Material)

Government sector

(Labor only)

Private sector

(Labor and Material)

Private sector

(Labor only)

Others

(18)

Revenues Structure :

Foundation + other works

37 577 304 917 473 ₄₁₀ 884 36 700 310 1,046 155 836 18 1,009 100 681 6 787 77 96 173 132 278 410 170 152 322 83 129 212 147 128 275 0 250 500 750 1,000 1,250 1,500 1,750 2012 2013 2014 2015 2016 Re ve nue ( M ill ion B aht)

18 Financial

Overview

Government sector

Labor only Labor + Material

Private sector

Total

Other works

(construction, other services etc.)

(19)

Net Profits : Consolidated

2012 2013 2014 2015 2016 Q1 43 26 43 61 47 Q2 0 46 55 61 31 Q3 -13 47 47 32 42 Q4 34 41 51 48 53 Year End 64 159 195 202 172 %N.P. 5.9% 12.3% 14.3% 16.5% 16.2% 43 26 43 61 47 0 46 55 61 31 -13 47 47 32 42 34 41 51 48 53 64 159 195 202 172 5.9% 12.3% 14.3% 16.5% _16.2% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% -25 0 25 50 75 100 125 150 175 200 225 250 Net P rof it (M illi on Baht)

Q1

Q2

Q3

Q4

Year End

%N.P.

19 Overview

(20)

Balance Sheet : Consolidated

2012 2013 2014 2015 2016 Assets 848 987 1,266 1,164 1,016 Liabilities 424 361 382 253 225 Equity 424 627 884 911 791 D/E Ratio 1.00 0.58 0.43 0.28 0.28 Current Ratio 1.45 2.08 2.72 3.64 3.03 848 987 1,266 1,164 1,016 424 361 382 253 ₂₂₅ 424 627 884 911 791 1.00 0.58 0.43 _0.28 _0.28 1.45 2.08 2.72 3.64 3.03 -3.00 -1.00 1.00 3.00 5.00 7.00 0 250 500 750 1,000 1,250 1,500 1,750 Amount (M illi on Baht)

Assets

Liabilities

Equity

D/E Ratio

Current Ratio

20 Financial

(21)

Dividends vs Net Profits

2011 2012 2013 2014 2015 2016 Net Profits 75 78 155 184 208 161 Dividends 40 56 83 181 199 169 %Dividends (policy) 40% 40% 40% 40% 40% 40% %Dividends (actual) 53% 72% 54% 98% 95% 105% 75 78 155 184 208 161 40 56 83 181 199 ₁₆₉ 53% 72% 54% 98% 95% 105% -200.0% -100.0% 0.0% 100.0% 200.0% 300.0% 400.0% 500.0% 600.0% 700.0% 0 50 100 150 200 250 300 350 400 450 D ivi d end s (M illi on Baht)

Net Profits Dividends %Dividends

(policy) %Dividends(actual)

21 Overview

XD, XM Book closing _date Payment _Date _{Share (Baht)}Dividend per

Interim Dividend Payment 23 Aug 2016 26 Aug 2016 8 Sep 2016 0.25 Annual Dividend Payment 16 Mar 2017 21 Mar 2017 23 May 2017 0.20

(22)

PYLON vs Industry : D/E Ratio

2010 2011 2012 2013 2014 2015 2016 SET 3.10 3.34 3.35 3.35 3.19 3.10 2.97 PROPCON 1.22 1.37 1.39 1.39 1.34 1.34 1.29 CONS 2.45 2.43 2.34 Pylon 0.79 0.87 1.04 0.59 0.44 0.28 0.28 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00

D/

E Rati

o

SET

PROPCON

CONS

Pylon

22

(23)

2010 2011 2012 2013 2014 2015 2016 SET 14.80% 13.91% 15.04% 14.47% 10.94% 9.57% 12.01% PROPCON 15.70% 13.13% 14.09% 16.80% 14.03% 14.36% 13.69% CONS 12.40% 8.69% 9.52% Pylon 9.95% 21.22% 16.21% 31.15% 26.32% 22.56% 20.17% 0% 10% 20% 30% 40%

ROE

SET

PROPCON

CONS

Pylon

23

(24)

PYLON vs Industry : ROA

2010 2011 2012 2013 2014 2015 2016 SET 5.65% 5.38% 5.29% 5.07% 4.06% 3.91% 4.40% PROPCON 10.55% 8.34% 8.24% 9.78% 8.59% 9.05% 8.58% CONS 6.05% 5.04% 5.03% Pylon 7.11% 16.28% 8.57% 22.48% 21.75% 19.90% 18.72% 0% 10% 20% 30%

ROA

SET

PROPCON

CONS

Pylon

24

(25)

2010 2011 2012 2013 2014 2015 2016 SET 7.36% 6.49% 6.56% 6.78% 5.46% 5.74% 8.11% PROPCON 9.87% 8.27% 8.32% 10.13% 8.97% 10.48% 11.09% CONS 4.63% 3.68% 4.24% Pylon 5.13% 7.98% 5.86% 12.21% 14.17% 16.33% 15.98% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18%

Net

Profit

Mar

gin

SET

PROPCON

CONS

Pylon

25

(26)

Outline

26 Industry

Overview

Company

Overview

Financial

Overview

Future

Outlook

(27)

27 2016 Action Plan : 20 mega projects

Overview

Total :

1,796 billion baht

Double track railway

(1.00 m.gauge) Jira – Konkaen

Mabkaboa – Jira

Nakhonpathom – Huahin

Prachuap khiri khan - Chumporn Lopburi - Pargnumpho

118.0 billion baht

MRT Projects

Orange line : Th cutural center-Minburi Pink line : Kaerai – Minburi

Yellow line : Lardprao – Samrong Light red line : Bangsu - Huamark Dark red line : Bangsu - Hualampong Purple line : Taopoon - Ratburana

396.5 billion baht

Improvement of Waterway

Transportation

Laemchabang Port Logistic Center

3.8 billion baht

Mortor way

Bangpa-in – Pakchong Pattaya – Mabtaput Bangyai – Karnchanaburi

Expansion

of the Airport

Suwannabhumi Phase 2

51.6 billion baht

Double track railway

(1.435 m.gauge) Nong khai - Mabtaput Bangkok - Chaingmai Bangkok – Huahin Bangkok – Rayong

1,065.8

billion baht

(28)

28 Project

2016 2017 2018 2019 2020 2021 2022 Double track railway (1m) : Jira - Konkaen

Motorway : Pattaya - Mabtaput Motorway : Bangpa-in - Korat

Waterway transportation : Laemchabang Port Waterway transportation : Logistic Center Expansion of Airport : Suwannabhumi Phase 2

2016 Action Plan : 20 mega projects

Overview

Industry

(29)

29 Project

2016 2017 2018 2019 2020 2021 2022 Motorway : Bangyai - Karnchanaburi

Double track railway(1m) : Mabkaboa - Jira

Double track railway(1m) : Nakornpathom – Huahin Double track railway(1m) : Prachuap – Chumporn Double track railway(1m) : Lopburi – Pargnumpho

MRT-Orange Line : Thailand Cultural Center - Minburi

MRT-Pink Line : Kaerai- Minburi

MRT-YellowLine : Lardprao - Samrong

MRT-Light Red Line : Bangsu - Makkasan - Huamark

MRT-Dark Red Line : Bangsu - Hualampong

2016 Action Plan : 20 mega projects

Overview

(30)

30 Project

2016 2017 2018 2019 2020 2021 2022 MRT-Purple Line : Taopoon - Ratburana

Double track railway(1.4m) : Nong khai – Mabtaput,

Bangkok - kaeng khoi

??? Under pre-tender process

Double track railway(1.4m) : Bangkok – Chaingmai

??? Under pre-tender process

Double track railway(1.4m) : Bangkok – Huahin

??? Under pre-tender process (PPP)

Double track railway(1.4m) : Bangkok – Rayong

??? Under pre-tender process (PPP)

2016 Action Plan : 20 mega projects

Overview

Industry

(31)

31 2017 Action Plan : 36 mega projects

Overview

Double track railway

Hua Hin - Prachuap khiri khan Chumporn – Suratthani

Suratthani – Songkra Hatyai – Padangbesa Pak nam pho – Denchai

Denchai – Chaingmai

Denchai – Chaingrai – Chaingkong Konkaen - Nong khai

Jira – Ubonratchthani Ban pai – Nakhonphanom

409.6

billion baht

MRT Projects

Dark red line : Rangsit – Thammasat Light red line : Talingchan - Salaya Blue line : Bangcare – Puttamonton 4 Orange line : TH cutural center-Talingchan

Dark green line : Samutprakan- Bangpu Dark green line : Kukot – Lamlukka

APL : Donmaung-Bangsu-Payathai Phuket Mass Transit

247.7

billion baht

Improvement of

Waterway Transportation

Laemchabang Port Phase 3 Ferry Port (gulf of Thailand)

36.1

billion baht

Motor way/Toll way

Nakhonpathom – Cha am Hatyai – Malaysia Rama 3 – Dao kanong Express way: Kratu – Pa thong

Toll way: North Line

188.7

billion baht

Public

Transportation

Transportation Centre/ Facility

E-Bus and E-Bus station Etc.

3.6

billion baht

Improvement of

the Airport

The Local Airport Baggage conveyor systems

U-tapao Airport (MRO)

10.9

billion baht

• 36 projects with

896 billion bath

in total

• Tend to tender in 2017 and start

(32)

Outline

32 Future

Outlook

Company

Overview

Financial

Overview

Industry

Overview

(33)

Company Backlog :

Mar 20, 2017



Current Work on Hand

504.8 M.Baht

33 Outlook

167.5, 33.2%

264.9, 52.5%

72.5, 14.4%

Million baht

Government sector

(Labor only)

Private sector

(Labor and Material)

Private sector

(34)

Inflow of Works

(only from current backlog)

34 Future

Outlook

Description

2017

Total

Q1

Q2

Q3

Q4

Government sector (L+M)

-

-Government sector (L)

121.9

22.5

18.1

5.0

167.5 Private sector (L+M)

152.4

79.7

32.7 -

264.9 Private sector (L)

7.5

56.1

8.9 -

72.5 Total

281.8

158.3

59.7

5.0

504.8

(35)

Company Highlights



Industry outlook:

benefit from Government Projects

in the long run



Continue

making excellent net profits



Keep

high dividends payment

(not less than 40% of

net profits)



_Maintain

_{strong financial status}

_{(low debts and high}

Liquidity)



_Show

_{strong and sustainable growth}

35

(36)

Promising

Industry

Prospects

Reputable

Foundation

Professionals

Strong

Financial

Position

Experienced

Team

Summary

36

•Government’s mega projects •Few competitors

•Low debts level

•Low risk for material price volatility

•Low D/E Ratio

•Continuing revenue growth •Acceptable profit margin •Promising dividends payment ratio of 40% •Reputation for Quality and Efficiency •Well-equipped machinery

•One of the top foundation company in Thailand •Committed management team •Highly regarded and experienced team of engineers •Relationship between Company and Customers

(37)