Strictly Private & Confidential TPBI Public Company Limited Opportunity Day Presentation March 12, 2018
Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in TPBI Public Company Limited (“TPBI”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. In addition, this presentation contains projections and forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the company and its directors. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results may differ from those forecast and projected or in the forward-looking statements as a result of various factors and assumptions. Strictly Private & Confidential Page 1
Agenda Section 1 About TPBI Group Section 2 Business Overview Section 3 Financial Highlights Section 4 Future Plan Strictly Private & Confidential Page 2
TPBI Group Overview Company Profile Share Summary Number of Shares Outstanding (mm) 400 • TPBI Public Company Limited (“TPBI”) was Registered Shares (THB mm) 400 established by Borrisuttanakul family as a plastic-bag trader/producer Paid-up Capital (THB mm) 400 Par Value per Share (THB) 1 • More than 30-year experience led the company Share Movement ( Dec 16 – Feb 18) become the leader of plastic-bag producer in Thailand High (THB) 16.00 • Low (THB) 10.50 The company was listed on the Stock Exchange of Thailand in the beginning of 2Q16 Average (THB) 13.85 Average Market Capitalization (THB mm) 5,268.21 Average Daily Trading Volume (THB mm) 4.22 TPBI is Thailand’s No. 1 total solution Dividend Payout Policy (%) At least 50% of net profit provider of plastic bag , providing complete As of Feb 2018 Other institutions, 0.68% services Others, BBLAM, 13.87% 11.54% product design and formula development manufacturing and procurement raw material and product testing Borrisuttanakul family, 73.91% *Shareholder holding as of the latest book closing date TPBI’s VISION is “To be a leading packaging manufacturer who achieves sustainable growth together with all stakeholders” Strictly Private & Confidential Page 3 Source: Company Data, Bloomberg
Group Structure Kanaoka Co., Ltd. APS Group 1/ “Manufacturer and distributor of plastic bags and (“ Kanaoka ”) multilayer blown film” 33.00% 7.00% 60.00% 70.00% 3.20% 100.00% 100.00% 30.00% Minima Technology Co., Ltd. (“Minima Tech”) “Manufacturer and distributor of “Taiwan base, manufacturer of “Manufacturer of plastic resin “TPBI’s Investment arm” flexible packaging” “Distributor of 10.40% bio- plastic resin” from plastic waste” bio- plastic resin” 25.00% 65.00% Myanmar Star Group P.P. Packaging Co., Ltd. “Manufacturer and (“P.P. Packaging”) distributer of paper cup” Solution Creation Co.,Ltd. 76.27% 13.33% “Manufacturer of plastic bags in (Subsidiary of PTTGC) 10.00% Myanmar” Board of Directors 7. Thanwa Laohasiriwong 5. Saksit Borrisuttanakul 1. Banchong Chittichang 3. Somsak Borrisuttanakul Director Chairman of the Board Chief Executive Officer Chief Operating Officer (High Value Added Products) 8. Prinya Saniwalwaroon Director 2. Wichai Borrisuttanakul 4. Kamol Borrisuttanakul 6. Sittichai Borrisuttanakul Chief Operating Officer Director Chief Financial Officer 9. Krit Phanratanamala (General Products) Director 1/ APS Group consists of APS Co., Ltd. and Asia Packaging Center Co., Ltd. Strictly Private & Confidential Page 4
TPBI Group Products Revenue Breakdown by Product TPBI Group’s total sales for 2017 is THB 4,729.31 mm, having sales proportion by products as follows: Revenue Breakdown in 2017 Revenue Breakdown in 2016 Others Others Flexible Packaging 16% 15% Flexible Packaging Garbage and other bags 13% Garbage and other bags 14% 25% 24% Multi-layer blown film Multi-layer 7% blown film 9% Vest carriers/t-shirt bags Vest carriers/t-shirt bags 36% 41% Strictly Private & Confidential Page 5 Source: Company Data
Market Diversification Market Diversification During 2017, approximately 59.4% of total sales are from exports to international markets while 40.6% are from domestic sales. In 2016 In 2017 Australia Australia 24% 29% Thailand Thailand 37% 41% Japan 9% Japan 9% Other countries UK 2% 11% UK Other countries 6% New Zealand USA France USA 4% France 2% 7% 1% 14% New Zealand 0% 4% “ TPBI Group distributes their different types of products to various regions to diversify the risk of relying on a few market” Strictly Private & Confidential Page 6 Note: :*Other countries include South Korea, Singapore, Nigeria, Laos, Cambodia, etc. Source: Company Data
Agenda Section 1 About TPBI Group Section 2 Business Overview Section 3 Financial Highlights Section 4 Future Plan Strictly Private & Confidential Page 7
Strong Presence in Plastic Packaging Value Chain through Backward Integration “TPBI group is one of a few converters who integrates backward into its value chain; creating competitive advantages and enjoying higher margin whilst lowering the risk of reliance on external suppliers” Feedstock Resin Producers Compound Resin Film Producers Converters Producers Compound Bio-Based Feedstock Bio-Plastic Resin Bio-Plastic Resin General Packaging Post-Industrial (Shopping Bags, Post-Industrial Compound Plastic Scrap Recycle Resin Recycle Resin Garbage Bag, etc.) Post-Consumer Post-Consumer Plastic Scrap Recycle Resin Digital Printing Multilayer PE Resin (Virgin) Blown Film Flexible Petroleum-Based Feedstock Packaging (Food Goods) Other Plastic Other Types of Resin Film Strictly Private & Confidential Page 8 Source: Company Data
Company Operations Plastic Bags Multilayer Blown Film Flexible Packaging Others Product Mix: Product Mix: Product Mix: Product Mix: • Vest carrier bags/ T-shirt bags/ • • • Lamination film/ Barrier film/ Packaging for frozen food, Compound resin/ Bioplastic Bio compostable bags/ Fruit & Stretch hood/ Shrink film ready-to-eat food and others product / Paper cup Vegetable bags/ Garbage bags/ • New Products: Digital Printing Loop- handle/ Die cut bags/ Production Capacity: Sales Proportion (2017): Fashion bags/ EMAP film bags • • ~ 9,000 tons per year International: 12.8% Production Capacity: • Domestic: 87.2% • New Products: Roll Star/ New • ~ 100 million meters per year Sales Proportion (2017): design garbage bags/ New • International: 18.9% Key Markets: design bags on roll for fruit and Sales Proportion (2017): • • Domestic: 81.1% Focuses on domestic market vegetable/ Mail Order bags/ • International: 0.7% Liner bags/ LLDPE food bags • Domestic: 99.3% Key Markets: Production Capacity: • Domestic, Singapore and etc. Key Markets: • ~ 64,000 tons per year • Focuses on domestic market Sales Proportion (2017): • International: 91.1% • Domestic: 8.9% Key Markets: • Australia, UK, USA, New Zealand, Japan and etc. Sample of Customers Sample of Customers Sample of Customers Strictly Private & Confidential Page 9 Source: Company Data
Historical Production Capacity and Utilization Rate General Packaging 100,000 85% 100% 74% 84% 86% 74% 78% 80,000 80% Tons per year • General packaging capacity is around 62,000 60,000 60% tons per year 40,000 40% • Utilization rate have been in range of 74 - 86% 20,000 20% 0 0% 2012 2013 2014 2015 2016 2017 Multilayer Blown Film 92% 95% 12,000 100% 76% 81% 84% 82% 10,000 80% • Multilayer blown film capacity is around 9,000 Tons per year 8,000 60% tons per year 6,000 40% 4,000 • 20% Utilization rate have been in range of 76 – 95% 2,000 0 0% 2012 2013 2014 2015 2016 2017 Flexible Packaging Million Meters per year 150 100% 80% 72% • Flexible packaging capacity has been increased 67% 62% 80% 63% 58% to over 100 million meters per year 100 60% • Utilization rate have been in range of 58 – 80% 40% 50 20% • Capacity expansion requires longer lead time 0 0% than other products 2012 2013 2014 2015 2016 2017 Capacity Output Utilization rate Strictly Private & Confidential Source: Company Data Page 10
Recommend
More recommend
