Thai Foods Group Public Company Limited “Opportunity Day Q3 - 2017”
Table of Contents Executive Summary Company Overview Financial Highlight Moving Forward 2
Executive Summary TFG is one of top three producers of chicken meat and live pigs in Thailand. We have the capacity to produce 540,000 chickens per day and supply over 64,000 fattening pigs per month. Key Competitive Strength - Feed Farm Foods Fully integrated business : Poultry, Swine, Feed Mills and Processed Food Strong farm management : Biosecurity and highly experienced operator Efficient business model : Partnering & Asset light Model Products distributed : locally, nationwide and exported Cost Efficiency : Low cost producer High Quality : Export Standard Experienced management team Tris Credit Rating : BBB- (announcement April 20, 2017) 3
Company Overview F OOD F ARM F OOD F EED Distribution Feed Mills Poultry Sales Processing Modern Trade -Suphanburi Poultry more than 583 contract farmers ( 72,800 Tonnes/month ) Traditional Trade with over 1,500 farms ( Growth • 4 slaughterhouses in 10% from 2016 ) HORECA - Prachinburi 2 Karnchanaburi 17 breeder chicken farms ( 54,000 Tonnes/month ) Industrial 1 Prachinburi 6 hatcheries Wholesale 1 Ratchaburi (Big Foods) Export Swine Food Service • 1 chicken sausage factory Prachinburi (40 Tonnes/day) 366 contract farmers ( 340 in Thailand and 26 in • 1 further factory Vietnam) Kanchanaburi (25,000 Tonnes/yr) 2 great - grandparent farms 6 grandparent farms Swine 9 parent farms 4 slaughterhouses in • KhonKaen • Chonburi, 4 • Nakronpratom Quality Foods Quality Life • Prachinburi
Financial Highlight Revenue from Sale GP% GP% (4.24%) 8.30% 17.20% 17.60% (4.24%) 13.40% 14.60% 12.71% 12.71% 20,626 20,626 19,083 17,371 17,371 15,007 7,031 6,189 5,864 201 201 9M - 2016 9M - 2017 201 201 Q1-2017 Q2-2017 Q3-2017 Net Profit NP% NP% (8.99%) 6.97% 9.10% 7.49% (8.99%) 6.97% 2.29% 9.67% 9.93% 1,447 1,447 1,438 1,403 701 601 136 201 201 201 201 Q1-2017 Q2-2017 Q3-2017 9M - 2016 9M - 2017 -1,574 -1,574 Strictly Confidential 5
Revenue Segment Revenue 9M 2017 COGS % GP from Sale 13,363 Poultry 11,089 17% 3,967 Swine 3,586 10% 1,741 Feed Mill 1,612 7% 11 Other 10 8% 19,083 Total 16,297 15% Revenue 9M 2016 COGS % GP from Sale Poultry 8,474 10% 9,436 Swine 3,307 22% 4,260 Feed Mill 1,209 7% 1,299 Other 11 8% 12 Total 13,001 13% 1 ,007 Strictly Confidential 6 6
Distribution Network Poultry 9M - 2017 9M - 2016 Food Service Food 0% Industry Service 9M 2016 9M 2017 9% Distribution % Change 7% Industry Tonnes Mil Bt. Tonnes Mil Bt. Wholesales Export 13% 26% 140,533 3,542 130,575 2,977 ( 16% ) Wholesales Wholesales 14% 39% 31,923 1,822 25,492 2,161 19% Modern Trade 39,401 1,615 33,379 2,002 24% Station Station 14,633 1,268 56,508 1,941 53% Export 17% Station 13,674 808 24,193 1,488 84% Industry 18% Export 620 51 11,258 850 1 , 567% Food Service 19% Modern 240,784 9,10 281,40 11,420 2 % Total Trade Moderntrade 18% 20% Remark: Exclude income from Big Food and chicken sausage 44.87 41.77 40.96 42.07 40.37 37.70 40.84 35.52 35.98 40.39 34.87 35.25 35.12 33.30 2011 2012 2013 2014 201 201 9M 2017 Industry TFG Strictly Confidential Source: Thai Feed Mill Association (TFMA), TFG 7 7
Distribution Network Swine 9M - 2016 9M - 2017 Pork Part 10% 9M 2016 9M 2017 Distribution % Change Tonnes Mil Bt. Tonnes Mil Bt. 47,941 2,861 52,969 2,843 ( 1% ) Live Pig 1,115 86 11,179 802 833 % Pork Part 49,0 2,947 4,148 3, 4 2 4 % Total Live Pig 90% Remark: Exclude income from Swine operation in Vietnam. 72.38 66.58 64.93 62.79 64.33 69.96 61.21 60.99 63.52 53.99 57.34 59.59 56.82 48.71 2011 2012 2013 2014 201 201 9M 2017 Strictly Confidential 8 Industry TFG 8 Source: Thai Feed Mill Association (TFMA), TFG
Distribution Network 9M 2016 Mil Bt. Tonnes Feed Mills 9M - 2017 9M - 2016 8 ,202 605 , 702 Internal 1, 287 96 , 3 92 External 9 , 490 702 , 094 Total 9M 2017 Mil Bt. Tonnes 8, 34 721,2 0 Internal 1,714 131, 92 External 10,348 8 2,942 Total 25.00 Soy Bean Meal 20.00 15.00 Bt./Kg Corn 10.00 5.00 0.00 1998 1999 2000 2001 2002 2003 2004 200 200 2007 2008 2009 2010 2011 2012 2013 2014 201 201 2017 Strictly Confidential Source: Thai Feed Mill Association (TFMA) 9 9
Financial Position Debt Profile Summary Balance Sheet Summary Debt Profile: Interest Bearing Debt Unit: Mil Bt. Restructure portion of ST and LT 18,142 Average cost of debt of 4.2% Dec-16 Sep-17 15,596 Dec-17 Sep-17 LT 15% LT 30% 10,578 9,469 7,564 ST 70% ST 6,127 85% Unit: Mil Bt. IBD Dec-16 Sep-17 4,949 6,048 ST Total Assets Total Liabilities Total Equity 2,168 1,042 LT 7,11 7,089 Total Dec - 16 Debt Profile Sep - 17 Unit: Mil Bt. DE Ratio 1.55 1.40 Total Debt Dec-16 Sep-17 8,242 8,164 ST ROE 26.84 28.03 1,227 2,413 Strictly Confidential LT 10 9,4 9 10, 78 10 Total * ROE annualize
TFG Business Plan 2018 3 Efficiency and Productivity : MV Margin Volume Velocity Value Quality Market Competitiveness Competitive Strategy Business Models Low Cost Producer Cost Management Asset Light Low Cost of Fund Business Model 11
TFG Business Plan 2018 Unit: Mil Bt. Revenue from Sale Net Profit 20% Q4 Y2017 20% 70 1 7,030 20, 2 Q3 Y2017 0 1 17, 371 ,189 Q2 Y2017 1 36 ,8 4 Q1 Y2017 Total 9 mth. Y2017 19,083 (MB) Y2015 Y2016 Y2017 Y2018
Project Expansion Kanchanaburi slaughterhouse Suphanburi Feed mills Expand capacity from 540,000 birds/day Expand capacity 120,000 Tons/month to 600,000 birds/day to 170,000 Tons/month 615 MB 540 MB 2 Breeder Farms and 1 Hatchery Increase chick production 4 million/week 614 MB 13
Contact Details The Company presentation is prepared by Thaifoods Group Public Company Limited (“the Company”) for our investors, shareholders and/or related persons. For further information, please contact: Mr. Winai Teawsomboonkij Mr. Chirdsak Kukiattinun Ms. Chormard Luengcomchat Chief Executive Officer Chief Operating Officer Investor Relations Manager +66 2 513 8989 Ext. 100 +66 2 513 8989 Ext. 102 +66 2 513 8989 Ext. 346 Winai.te@tfg.co.th Chirdsak.ku@tfg.co.th Investorrelations@tfg.co.th 14
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