Q2 2017 Opportunity Day 15 September 2017 CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of Big C Supercenter PCL is strictly prohibited
Disclaimer The following presentation may contain forward looking statements by the management of Berli Jucker Public Company Limited (“BJC”), relating to financial or other trends for future periods, compared to the results for previous periods. Some of the statements contained in this presentation that are not historical facts are statements of future expectations with respect to the financial conditions, results of operations and businesses, and related plans and objectives. Forward looking information is based on management’s current views and assumptions including, but not limited to, prevailing economic and market conditions. These statements involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in the statements as originally made. Such statements are not, and should not be constructed as a representation as to future performance of BJC. In particular, such targets should not be regarded as a forecast or projection of future performance of BJC. It should be noted that the actual performance of BJC may vary significantly from such targets. 2 Confidential
Agenda ▪ Highlights ▪ Overall Performance ▪ Performance by Supply Chain ▪ Operations Update 3 Confidential
HIGHLIGHTS 2Q and 1H 2017 Highlights Financial performance Delivered a solid second quarter results . Strong Consumer supply chain, and Healthcare and Technical supply chain performance. Solid margin improvements across supply chains. Continued resilient rental income growth, and improving SSSG trend at Modern Retail supply chain. Operations Consumer Supply Chain: Food and Non-Food Delivering strong performance after various successful product launches during the first quarter of the year. Modern Retail Supply Chain: Improving SSSG trend, turning positive in July 2017. Continued improvements in Fresh Food and Home Line categories . Hypermarket and Mini Big C expansion plan on track to reach FY2017. Synergy target for FY2017 confirmed. 4 Confidential
Agenda ▪ Highlights ▪ Overall Performance ▪ Performance by Supply Chain ▪ Operations Update 5 Confidential
OVERALL PERFORMANCE Overall Performance Q2 and H1 2017 • On May 11 st , 2016, BJC completed an acquisition of 97.94% shares in BIGC, 99.18% shares in C-Distribution Asia Pte Ltd. and 98.80% shares in C-Distribution (Thailand) Company Limited • Results of these companies has been consolidated into BJC since March 21 st , 2016 Q2 2017 Sales (MB) Q2 2017 Net Profit (MB) 519.6% YoY Net profit 8.3% YoY 137.3% YoY Norm. Net profit Net profit Normalized net profit 40,487 37,107 996 996 Q2 2017 420 Highlights 161 Q2 2016 Q2 2017 Q2 2016 Q2 2017 H1 2017 Sales (MB) H1 2017 Net Profit (MB) 195.7% YoY Net profit 31.8% YoY 112.7% YoY Norm. Net profit 72,784 1,961 1,961 55,204 H1 2017 922 663 Highlights H1 2016 H1 2017 H1 2016 H1 2017 6 6 Confidential
OVERALL PERFORMANCE Q2 2017 vs. Q2 2016 – Supply Chain performance Q2 2017 Sales of THB 37,107 million, a decrease of THB 3,380 million or 8.3% YoY PSC CSC H&TSC MSC Others • PSC’s sales improved by THB 62 MN due to higher sales in THB MN aluminum can business especially from the energy drink segment. 62 (14) 50 (3,467) • CSC’s sales decreased by THB 14 MN. While Food and Non- Food sales grew strongly, it was offset by lower sales in (11) -8.3% YoY international business. 40,487 • H&TSC’s sales increased by THB 50 MN due to higher sales from pharmaceutical business from haemato products and 37,107 galvanized steel structure business. • MSC‘s sales decreased by THB 3,467 MN due to strategic decision to discontinue unprofitable sales practices. Q2 2017 Q2 2016 Q2 2017 Net Profit of THB 996 million, an increase of THB 835 million or 519.6% YoY PSC CSC H&TSC MSC Others • PSC’s net profit decreased by THB 47 MN driven by lower sales THB MN in glass business and lower net profit from MGP and MVG. +519.6% YoY • CSC’s net profit increased THB 56 MN. Net profit increase came from both Food and Non-Food businesses due to higher sales and lower raw material costs. 1,002 996 • H&TSC’s net profit increased THB 43 MN due to higher sales from both pharmaceutical and galvanized steel structure businesses as well as the lower SG&A expenses. 43 (47) 56 (219) 161 • MSC’s net profit decreased by THB 219 MN due to lower Other Income and increased SG&A expenses. Q2 2016 Q2 2017 7 7 PSC : Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain Confidential
OVERALL PERFORMANCE H1 2017 vs. H1 2016 – Supply Chain performance H1 2017 Sales were THB 72,784 million, an increase of THB 17,580 million or 31.8% YoY PSC CSC H&TSC MSC Others • PSC’s sales increased slightly by THB 7 MN due to higher sales (290) in aluminum can business especially from the energy drink THB MN 17,514 segment. 7 101 248 • CSC’s sales increased by THB 101 MN from all businesses. +31.8% YoY 72,784 • H&TSC’s sales increased by THB 248 MN due to higher sales from both H&TSC businesses. 55,204 • MSC‘s sales increased by THB 17,514 MN due to full consolidation of Big C’s results into BJC’s financial statements. H1 2017 H1 2016 H1 2017 Net Profit was THB 1,961 million, an increase of THB 1,298 million or 195.7% YoY PSC’s net profit decreased by THB 72 MN due to lower sales THB MN PSC CSC H&TSC MSC Others in glass business and lower net profit from MGP and MVG. CSC’s net profit increased THB 46 MN, driven by higher 250 +195.7% YoY sales and lower raw material costs in Food and Non-Food businesses. 963 H&TSC’s net profit increased THB 111 MN due to higher 1,961 sales from both H&TSC businesses as well lower SG&A 1,711 111 expenses. (72) 46 748 663 637 591 591 MSC’s net profit increased THB 963 MN due to full consolidation of Big C’s results into BJC’s financial statements. H1 2016 H1 2017 8 PSC : Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain Confidential
OVERALL PERFORMANCE Performance breakdown Q2 2017 H1 2017 Sales Breakdown Sales Breakdown H & TSC H & TSC 6% PSC CSC CSC 5%Others PSC 14% 11% 11% Others 13% 1% 1% MSC MSC 68% 70% Net Profit Breakdown Net Profit Breakdown CSC 6% PSC H & TSC CSC PSC 24% 7% 6% 23% H & TSC 7% MSC MSC 64% 63% 9 PSC : Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain Confidential
OVERALL PERFORMANCE Capital structure BJC completed 97.94% Big C acquisition on 11 th May 2016 BJC Q2 2017 Net Interest Bearing Debt to Equity of 1.3X Financing Structure – Net Debt and Deleveraging Components BJC Q1 2017 Net Debt THB MM 150,142 95 (2,824) 2,342 BJC & Big C 28,142 remaining debt 150,719 122,000 Debenture BJC Q1 2017 Net Debt Decrease in long term loan Increase in short term loan Increase in cash BJC Q2 2017 Net Debt Net Interest Baring Debt to 1.3x 1.3x Shareholders ’ Equity On 22 nd of August, TRIS maintained BJC’s A+ Stable credit rating 10 Confidential
Agenda ▪ Highlights ▪ Overall Performance ▪ Performance by Supply Chain ▪ Operations Update 11 Confidential
PERFORMANCE BY SUPPLY CHAIN Packaging Supply Chain – Q2 and H1 2017 Sales and Gross Profit Margin EBIT and EBIT Margin Net Profit and Net Profit Margin EBIT% 162 bps EBIT% 127 bps GP% 114bps GP% 129 bps NP% 120 bps NP% 78 bps EBIT 12.1% EBIT 9.3% Sales 1.4% Sales 0.1% NP 8.8% NP 7.0% 22.4% 12.0% 11.0% 10.8% 17.0% 21.4% 21.3% 10.2% 20.1% 15.4% 15.0% 13.7% 9,253 9,260 1,391 1,272 1,016 944 4,489 4,551 773 690 537 490 Q2 2016 Q2 2017 H1 2016 H1 2017 Q2 2016 Q2 2017 H1 2016 H1 2017 Q2 2016 Q2 2017 H1 2016 H1 2017 Q2 2017 Highlights H1 2017 Highlights • Q2 2017 sales reached THB 4,551 MN, up +1.4% YoY due to higher sales in • H1 2017 sales increased by +0.1% YoY, and our aluminum can business especially from the energy drink segment. gross profit margin increased by +129 basis points driven by aluminum can business. • Our gross profit margin increased by +114 basis points YoY, reaching 22.4% for the quarter. This increase was driven by higher sales and lower COGS in aluminum can Our EBIT increased by +9.3% YoY, and EBIT • business. margin increased by +127 bps due lower COGS in aluminum can business. • Our EBIT reached THB 773 MN, up +12.1% YoY, and our EBIT margin increased by +162 bps YoY, reaching 17.0% for the quarter. • Our net profit decreased by -7.0% YoY, and net profit margin decreased by -78 bps due to lower • Our net profit reached THB 490 MN, down -8.8% YoY, and our net profit margin sales in glass business and lower net profit from decreased by -120 bps YoY, reaching 10.8% for the quarter. This decreased was due MGP and MVG. to lower sales in glass business and lower net profit from MGP and MVG. 12 Confidential
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