SET OPPORTUNITY DAY 2Q19 RESULTS PRESENTATION 13 SEPTEMBER 2019 1
Disclaimer Certain forward looking statements may be made in the course of the presentation. These forward-looking statements generally can be identified by use of statements that include words or phrases such as LST , UPOIC and UFC or we or our management “believe”, “expect”, “anticipate”, ”intend”, ”plan”, ”foresee”, ”project”, ”may”, “will”, “shall”, or other similar words or phrases. Similarly, statements that describe LST , UPOIC and UFC ’s objective, plans or goals also are forward-looking statements. These statements involve known and unknown uncertainties and risks that could differ materially from actual results, performance or events. The forward-looking statements contained in the slides are not and should not be constructed as representations of the future performance of LST , UPOIC and UFC and that such statements are an expression of the Company’s reviews based on its current view and certain assumptions including, but not limited to, prevailing economic and market conditions and currently available information. The reader or the listener is cautioned to not unduly rely on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward looking statements. 2
Agenda • Company Overview (LST) • Company Overview (UPOIC) • Industry Overview • Financial Overview (UPOIC) • Financial Overview (LST) • Business Overview (UFC) • Q&A 3
Philosophy of Lam Soon Group Vision “The leading food and food related company with sustainable growth and development” Mission Manufacturing high quality and nutritious food product together. Employing advance technology. Building trust and confidence toward our customers . 4
1974 Bangkok Edible Oil was founded Our Development Established Vegetable Oil Refinery at 1978 Bang Poo Industrial Estate 1983 Lam Soon (Thailand) Co,. Ltd was established 1996 LST was listed on the Stock Exchange of Thailand Corporate Milestone 2003 Became a major shareholder of “UPOIC” 2004 Acquisition of “UFC” 2008 -Joined the Roundtable on Sustainable Palm Oil (RSPO) - Constructed Biogas power plant at Trang mill 1974 1974 1978 1978 1983 1983 1996 1996 2003 2003 2004 2004 2006 2006 2007 2007 2008 2008 2009 2009 2011 2011 2012 2012 2013 -2019 2013 -2019 Launched new product targeted at health conscious 2006 consumers under the brand “Naturel” Product Development Implemented Electricity power project under Clean 2007 Development Mechanism (CDM) and Carbon Credit Program “Jade” palm cooking oil was the first cooking oil 2009 awarded “Carbon Label” Launched soy milk products under the “UFC 2011 HomeSoy” 2012 UFC Launched Coconut water LST & UFC launched various new products to serve 2013 - 2019 customer needs In 2019, LST launched Yok Extra 100% Coconut Oil 5
Group Structure Lam Soon (Thailand) 69.96 % 98.83% UFC UPOIC 99.98 % 99.98 % 100.00% 100.00% 50.00% 50.00% Siam Elite Palm Phansrivivat Union Frost 99.99% 99.99% Phansri Prachakvivat 6
Strong Fundamental i.e. Fully Integrated Supply Chain Raw Material Acquisition Production Sales & Marketing Germinated Nursery Oil Palm Value Adding Distribution Crushing Mill Refinery Seeds Plant Plantation and Diversify Channel JV with JV with Start from Start from Oil palm Oil palm 2 locations in 2 locations in Total Total Diversifying Diversifying investment nursery plant planted area Trang and capacity into food arm of CIRAD to ensure Krabi with 255,500 related to develop product combined tons /year businesses own palm quality capacity 120 seeds tons FFB / hr. species Cost saving from integrated distribution channel of LST and UFC 7 Fully Traceability – Quality & Profitable
Our Products Upstream Core Products Diversify Germinated Seedling Seeds Crude Palm Oil Crude Palm Kernel Oil Other Products Distributor Electricity Power from Frozen Dough Biogas 8
New Product – YOK EXTRA 100% Coconut Oil 9
New Product – New Package Zest Gold Margarine 10
New Product – Refined Palm Kernel Oil ( Moonlight) Refined Palm Kernel Oil Refill ( Moonlight Brand ) 1 L. เหมาะสําหรับอาหารประเภททอด ที�ใช้ นํ�ามันมาก ทําให้อาหาร กรอบ อร่อย มีกลิ�นหอม น่า รับประทาน 11
MasterFoods 12
Frozen Dough 13
Share Capital Information Top 10 Shareholders (As of May 8, 2019) Percentage of Stock Information Paid-up Capital Symbol LST (1) Lam Soon Holding Co., Ltd. 42.11 Share Price ( 11 SEP 2019) 4.56 THB (2) Hap Seng Consolidated Berhad 20.00 Historical price : (3) Lam Soon Cannery Pte Ltd. 7.48 • 52-week high 5.10 THB (4) CGS-CIMB Securities (Singapore) Pte 6.47 • 52-week low 3.86 THB (5) LGT Bank (Singapore) Ltd 4.65 (6) Mr. Suwit Laohapolwattana 2.88 No. of paid up shares : 820 Million (7) CGS-CIMB Securities (Hong Kong) Ltd 1.62 Par value : 1 THB/Share (8) Ms. Supaporn Smittinun 1.20 Market Capitalization : THB 3,739.2 mn. (9) Thai NVDR Co.,Ltd. 0.99 Source: www.setsmart.com (10) Ms. Nalin Chongsawadchai (10) Ms. Nalin Chongsawadchai 0.65 0.65 3 years share price performance (%) Dividend Payout Policy The Company’ s policy is to pay dividends to shareholders of an amount not less 160.0% than 40% of its net earnings after tax subject to the Company’s future investment and funding requirements. 120.0% 0.80 100.0% 80.0% 80.0% 61.4% 60.0% 59.4% 60.3% 0.60 58.8% 40.0% 60.0% 0.40 0.0% 0.25 40.0% 0.20 0.18 0.15 0.20 0.41 0.10 -40.0% 0.34 20.0% 0.29 0.25 0.17 - 0.0% 2014 2015 2016 2017 2018 LST Food SET EPS (Baht/Share) DPS (Baht/Share) Dividend Payout Ratio (Based on operational year) Source: www.setsmart.com 14
Agenda • Company Overview (LST) • Company Overview (UPOIC) • Industry Overview • Financial Overview (UPOIC) • Financial Overview (LST) • Business Overview (UFC) • Q&A 15
UPOIC’s Philosophy Vision “The leading sustainable palm oil business company with operational excellence, international best practices, and world-class competitive strengths.” Mission • Building capacity in entire palm oil business value chain from seeding, germinating, plantation, crop oil extraction and related business so as to be competitive and recognizing in the future • Performing the high value palm oil business by focusing in research and development of palm seed breeding of seed with high yield and adaptable to a range of cultivation area to fulfill grower requirements as well as providing the best services. • Employing advanced technology in production, research and development with international management system as well as taking care of the environment, biodiversity, communities, and society. • Always ensuring the health, safety, and welfare of all employees and building trust and confidence among our customers, grower/suppliers and generate return to shareholders and other stakeholders appropriately. 16
Corporate Milestones UPOIC entered into a joint venture with Issuing new share in CIRAD to form Siam UPOIC was exchange for an 100% Elite Palm Co., Ltd. stake in Phansrivivat established 1978 1978 1991 1991 1994 1994 1997 1997 2003 2003 2006 2006 2008 2008 UPOIC was 1997 LST began listed company purchasing UPOIC shares on the Stock Exchange of 2003 LST acquired more Thailand (SET) shares in UPOIC , and as a Joined the result became the major Roundtable on shareholder of UPOIC Sustainable Palm Oil (RSPO) 17
Share Capital Information Percentage Stock Information Major Shareholders as of May 8,2019 of Paid-up Capital Symbol UPOIC (1) Lam Soon (Thailand) Plc. 69.96 (2) Wattanachote Co., Ltd. 5.70 Share Price ( 11 SEP 2019) 3.68 THB (3) Mr. Somkiat Peetakanonda 1.68 Historical price : (4) Mr.Thammanoon Sahadithdamrong 1.17 • 52-week high 5.95 THB (5) Wattanasophonpanich Co., Ltd. 1.12 • (6) Ms.Duangkamol Thanissaranont 0.74 52-week low 3.52 THB (7) GreenSpot Co., Ltd. 0.73 No. of paid up shares : 324.05 Million (8) Mr. Suwit Laohapolwattana 0.73 Par value : 1 THB/Share (9) Ms. Wallada Kritchayada 0.71 Market Capitalization : THB 1,192.5 mn. (10) Mrs. Nancy Chalermkanjana 0.63 Source: www.setsmart.com 3 years share price performance (%) Dividend Payout Policy UPOIC has a policy of paying not less than 50% of net profit after tax as 60.0% dividend. 30.0% 1.0 100.0% 65.7% 0.8 80.0% 0.0% 57.7% 54.1% 0.6 60.0% -30.0% 0.30 0.4 40.0% -60.0% 0.52 0.15 0.15 0.10 0.2 20.0% 0.08 0.28 0.12 0.0 0.0% (0.02) (0.06) (0.2) -20.0% 2014 2015 2016 2017 2018 UPOIC AGRI SET EPS (Baht/Share) DPS (Baht/Share) Dividend Payout Ratio (Based on operational year) Source: www.setsmart.com 18 Remark : Dividend payment for year 2015 and 2017 were paid from retain earning
Agenda • Company Overview (LST) • Company Overview (UPOIC) • Industry Overview • Financial Overview (UPOIC) • Financial Overview (LST) • Business Overview (UFC) • Q&A 19
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