Haad Thip Public Company Limited Annual General Meeting 24 th April 2019 (S31 Hotel, Bangkok)
Our 50-years Journey “ from Nakornthip to Haad Thip” 53 MUC Haad Thip Today - 2 production plants with 8 lines & 3 injection machines - 19 sales branches with 200 sales trucks - Over 2000 employees 23 - 131 SKUs and 8 brands in the MUC product portfolio 15 MUC 6 MUC 1 MUC 1969 1974 1978 1988 1998 2008 2018 (2512) (2517) (2521) (2531) (2541) (2551) (2561)
2018 NEW PRODUCTs Coke Plus Coffee Minute Maid Essential Mini Can Minute Maid Doikham Coke 300ml PET Fanta Dang Manao Soda Namthip 350ml Sparkling Still (Mar’19)
2018 KEY MILESTONES • 3rd injection machine in operational (Oct’18) • RTM Pre-sell expanded to Red Zone (100% completed) • Salesforce automisation • Vending machine pilot • SAP upgrading (Mar’18) • Additional SKUs certified for product carbon footprint (24 -> 34 SKUs)
South NARTD Market % Volume Change Y17 vs. Y16 Y18 vs. Y17 7.7% • 2018 NARTD Growth is mainly driven by the growing drinking 2.5% water category which has 48% contribution of total NARTD market. -0.3% • Several categories, i.e. Soft -5.0% -5.3% -5.7% drink, RTD Juice and Tea, had -7.4% continued with negative -8.0% volume growth for another -11.8% year. -14.6% Total NARTD Softdrink Drinking RTD Juice RTD Tea Water
Y2018 Sales Performance Volume Contribution Volume Growth by Category by Category CSD 0.2% CSD 92% Water Other Still 21.4% Water 7% 1% Other Still -4.9% (Total Company +2.0%) Net Sales Revenues (MB) • Good start in Q1 due to PY low base 5,671 5,704 (severe flood in Q1’17) • But total year sales revenue grew only 0.6% due to 1,519 1,402 1,404 1,379 • Slow economic recovery Inclement weather (rains) in the South • FY17 FY18 Q1 Q2 Q3 Q4 • Phuket boat accident (Q3) -0.6% +0.6% +5.5% +0.2% -3.1% -0.3% +/- vs. PY
Y2018 Financial Highlights Sales Revenues had increased by 33MB (+0.6%) vs. PY, but still Net Sales Revenue (MB) lagged behind sales volume growth (+2.0%) primarily due to change in 5,704 category & pack mixes and ex-factory sales which has lower selling price. 5,671 While, low volume growth had been in line with soft sparkling and NARTD market. Y17 Y18 Gross Profit (MB, % of NSR) Gross Profit had increased by 60MB or +3.2% vs. PY (GPM had improved from 32.9% to 33.7%) , 1,924 36.0% 35.0% • Sugar cost savings 33.7% 1,864 34.0% • Tax savings 33.0% 32.9% 32.0% • Increased production volume 1,800 31.0% • Partially offset by increased resin cost Y17 Y18 Net Profit (MB, % of NSR) But Net Profit had declined by 34MB or -12% vs. PY (NPM had 283 decreased from 5.0% to 4.4%) , mainly due to increased SG&A exp. 249 36.0% • Human investment 26.0% • PP&E and IT capital investment 16.0% 5.0% 4.4% • PY Low base of sales & promotion exp. 6.0% - -4.0% Y17 Y18
2018 Statement of Financial Position +149MB Total Assets (+3%) Capital investment to improve business operation and support +102MB expansion (injection machine, (+5%) +47MB plant & warehouse building, SAP) (+2%) 4,758 Total Liabilities 4,609 Total SH’s Equity Higher working capital required and increased trade Net profit generated for 2018 AP to support growing 2,712 2,665 business 2,046 1,944 Total Assets Total Liabilities Total Shareholders' Equity 31Dec17 31Dec18
HTC Vision & Purpose “Continually increasing profitable, sustainable unit case sales of our products by satisfying new and existing consumers through excellent service to and with our customers at an increasing return” Increasing productivities Increasing NARTD shares 2028 through portfolio 2018 expansion Increasing sales • 53 MUC Sales • 5700 MB Revenues • 24% NARTD share • 84% Sparkling share
Thank You - Q&A -
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