Page 35 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 2.3 MOVE 33
Annual Report 2021/22

FY 2021/22 Key Developments

The Northern Green Line Extension The Pink and Yellow Lines are nearing BBS Joint Venture (BTS Group share The construction and installation of
(Mochit to Khu Khot; 16 stations and its tail-end development stages at 90% ownership of 35%) entered into the two Intercity Motorways projects of
19.0km) commenced its full operations completion and is expected to be fully the Public-Private Partnership Agreement M6: Bang Pa-in to Nakhon Ratchasima

boosting revenue growth in O&M by operational by 2023 for the U-Tapao International Airport and M81: Bang Yai to Kanchanaburi

18% YoY to THB 6.3bn where construction phases are expected have commenced in January 2022.
to begin in 2H 2022 The project was formed under a joint
venture under BGSR where BTS
Group has a shareholding of 40%

2021/22 marked another year within our MOVE business segment as we continued International Airport under the BBS Joint Venture (BTS Group shareholding
our expansion within the rail business. On 3 December 2021, BTS Group of 35%), we can expect to receive the Notice-to-Proceed (NTP) by year-end
management led the board of directors and executives to attend the trial runs of of 2022, thereafter the launch of construction can begin.
the Yellow Line Monorail Project starting from its Depot to Sri Nut (Y13). The Yellow
Line Monorail Project from Lat Phrao - Samrong station, covers a total distance As we enter the recovery stage from the COVID-19 pandemic, our MOVE
of 30.4 kilometres and 23 stations. Whereas, the Pink Line Monorail Project performance continued to show resilience as the gross profit margin increased
from Khae Rai - Minburi, runs up to a total distance of 34.5 kilometres and to 23.1% compared to 17.0% in FY 2020/21. This was predominantly due to
30 stations. We are expecting the Yellow and Pink lines to be fully operational the reduction in services income for the provision of E&M works which has
by 2023. The Group now has a total of 135 kilometres rail mass transit networks lower margin and higher O&M revenue of 6.3bn from the full-year recognition
secured under contract throughout Bangkok, Pathum Thani and Samutprakarn. of the Northern Green Line extensions and contractually agreed increase in
operating fee of the existing Green and Southern Green Line extensions.
We have made significant strides in our Non-rail business. The BGSR Joint However, the Company recorded share of loss from investments in BTS Rail
Venture (BTS Group shareholding of 40%), of the two Intercity Motorways Mass Transit Growth Infrastructure Fund (BTSGIF) of THB 29mn, compared to
projects of: M6 (Bang Pa In - Nakhon Ratchasima) and M81 (Bang Yai - a share of profit of THB 235mn in the previous year. This was mainly due to
Kanchanaburi), where construction has commenced on 11 January 2022. the decrease in farebox revenue from the Core Line Network ridership (down
The toll gates and installation of toll collection system, traffic management 40.6% to 74.2mn trips), contributed by the COVID-19 pandemic throughout
and control systems have already been implemented for this project. the year. Despite, the decrease in the farebox revenue, it was partially offset
The commercial operations are expected to begin in 2025. For the U-Tapao by an increase in average fare by 8.3% YoY to THB 32.2 per trip.