WE R THE RIGHT CHOICE Frozen Tuna Pet Food Feed Distribution Business Business Business Business Business Asian Seafoods Coldstorage PLC. บมจ.ห้องเย็นเอเชี่ยน ซีฟู้ด Corporate Access - 24 th January 2017
Disclaimer This presentation includes forward-looking statements and numbers that are subject to risks and uncertainties including, in particular, statements about future events, future financial performance, plans, strategies, expectations, prospects, competitive environment, regulation and supply and demand. ASIAN, Asian Seafoods Coldstorage PLC., based these forward-looking statements on its views with respect to future events and financial performance. Actual performance described herein could differ materially, better or worse, from that projected in the forward-looking statement due to the inherent uncertainty of estimates, forecasts and projections. Readers should not put undue reliance on any forward-looking statements. Forward-looking statements represent estimates and assumptions only as of the date that they were made. The information contained in this presentation is subject to change without notice and ASIAN does not undertake any duty to update the forward-looking statements, and the estimates and assumptions associated with them, except to the extent required by applicable laws and regulations. Corporate Access - 24 th January 2017
Agenda Asian Overview o Major Events o Asian Family o Asian Business o Asian Link Asian Performance o Highlight o 3Q Ytd Performance Asian Ambition 2020 Corporate Access - 24 th January 2017
Asian Seafoods Coldstorage Public Company Limited & its Subsidiaries ASIAN OVERVIEW Corporate Access - 24 th January 2017
Major Events 1994 2005 2012 2015 Registered Asian Founded Asian Founded Asian • Quadruple Growth in • Pet Food Seafoods Alliance Food Co., Ltd. 1964 Coldstorage EMS Outbreak in • Turnaround of Asian International Co., Ltd. • Starting Business PLC. Shrimp Feed Co., Ltd. 1990s 2000s 2015s 1964 2010s 2004 2006 2016 1993 2013 Asian Seafoods Acquired Asian • Implement ERP Founded Asian Seafoods • • AAI invested in Coldstorage (Suratthani) Coldstorage Feed • Sustainable sourcing & Pet Food Line Good Labor Practice Co., Ltd. PLC. Co., Ltd. Step into ready-to- • Recapitalized to • Founded Asian • Established Nutrition cook/eat meal 2014 361 MB Seafood Database in Pet Food & Asian Seafood Coldstorage Feed Coldstorage (Sriracha) (Sriracha) Co., Ltd. • Ambition 2020 were set Co., Ltd. were closed Corporate Access - 24 th January 2017
Asian Business Frozen Tuna Pet Food Aqua Distribution Business Business Business culture Business Feed Business Asian Alliance Asian Alliance Asian Feed Asian Food Asian Seafoods Coldstorage PLC. International International Co., Ltd. Co., Ltd. Co., Ltd. Co., Ltd. Asian Seafoods Coldstorage (Suratthani) Co., Ltd. 3.5 Mbaht 1.2 Mbaht 1.6 Mbaht 1.1 Mbaht 0.7 Mbaht 2015 Business Size Corporate Access - 24 th January 2017
Frozen Business Frozen Business of Asian Group comprises of 3 plants. o Asian Seafoods Coldstorage Public Company Limited (Klongtoey) o Asian Seafoods Coldstorage Public Company Limited (Samutsakorn) o Asian Seafoods Coldstorage (Suratthani) Company Limited Corporate Access - 24 th January 2017
Frozen Business • Production capacity of 4,000 tons a year • Sillago and Sillago breaded products or tempura mostly distributed to Japanese customers • Brands that customer trust • Relationship to raw material sources • Coldstorage facility right in the center of BKK Corporate Access - 24 th January 2017
Frozen Business • Production capacity of 24,000 tons per year • Focuses on frozen shrimp and expands into a variety of value-added products (ready-to-cook and ready-to-eat meal) • Provide full traceability on 100% non- IUU Fishmeal (in corporate with Asian Feed Co., Ltd) • “4 Stars” certified shrimp products Corporate Access - 24 th January 2017
Frozen Business • Production capacity of 18,000 tons per year • Focuses on Squid and raw ready-to- eat product (Sasimi) • It can fetch fresh materials as it situated close to the country ’ s important source of marine raw materials and the center of shrimp farms in southern part of Thailand Corporate Access - 24 th January 2017
Frozen Trademarks Corporate Access - 24 th January 2017
Tuna Business • Operated by Asian Alliance International Co., Ltd., located in Samutsakorn province • Annual production capacity of 45,000 tons • Traditional tuna product in cans and pouches, and Value added product (ready-to-eat) such as Tuna with rice meal • Quite new facilities compare to others which ready to expand Corporate Access - 24 th January 2017
Pet Food Business • Also operated by Asian Alliance International Co., Ltd. with annual production capacity of 15,000 tons. • Serve as a “co - developer” who understand customers and provide ideas for new products in variety of packaging. • With ERP system implementation, the main focus is to streamline operations by growing with the larger customer and reduce the number of small clients. The target segments are premium brand owners and private labels showing continued growth. • Fishmeal processing using by-products derived from processed tuna and wet pet food manufacturing process. Corporate Access - 24 th January 2017
Aquaculture Feed Business • Asian Feed Co., Ltd. located in Petchaburi province • Manufactures and distributes aquaculture feed under its own trademarks • Production capacity of 60,000 tons of sinking pellet and 25,000 tons of floating pellet per year. • Advanced laboratory and academic expertise to provide water quality analysis inspection, aquatic animal quality evaluation, food quality development, technique advisory for rearing and solution for diseases in aquatic animals. Corporate Access - 24 th January 2017
Aquaculture Feed Business • Develop and implement research plan using Asian Group’s farm in Suratthani and Chantaburi for both product quality and new farm model test Corporate Access - 24 th January 2017
Aquaculture Feed Trademarks Corporate Access - 24 th January 2017
Distribution Business • Asian Food Co., Ltd. engages in imported frozen food products and delivered to Thai wholesalers, modern retail and restaurant chains • Our cold storage in Bangkok and Samutsakorn are also the hub for our food distribution business Corporate Access - 24 th January 2017
Asian Link Corporate Access - 24 th January 2017
Asian Seafoods Coldstorage Public Company Limited & its Subsidiaries ASIAN PERFORMANCE Corporate Access - 24 th January 2017
Highlight • Sales & Gross Profit are picking up in 2015 since the EMS outbreak effect in 2012. The pet food business turned to profitability in 2015 due to a significant increase in • sales volume, after 3 years of investment in market and product development. The feed business turned around by optimizing formulas and good control of • production quality & cost. • The frozen food business continued its stable and good performance. Corporate Access - 24 th January 2017
Financial Highlight • Structured its business in 5 business units - frozen food, pet food, tuna canning, aqua feed and distribution. • Frozen sales growth particularly in shrimp products. Strong growth in Pet Food • business Corporate Access - 24 th January 2017
Financial Highlight • Asian’s policy is to finance around 50% of its requirements by long term funding to stabilized its financial source. In July 2015 a 750 million BHT 2 year bond was successfully issued. First steps to • balance its short term and long term financing. • In July 2016, a new 5-year loan of 750 million Baht was concluded. Also in July a 562.5 million 2-year bond was redeemed. Corporate Access - 24 th January 2017
3Q Ytd Performance • 3Q Ytd sales revenues were 6,303 million Baht (last year 5,620 million Baht, a 12.2% increase) • 3Q Ytd GP was 8.0%, compared to 9.2% last year, a decrease was due to exchange rates and a result of increased raw material prices. • Liquidity were improved and all ratios were well within the agreed covenants. Corporate Access - 24 th January 2017
Frozen 3 rd Q Performance • The Frozen Food business amounted to 1,136 million Baht, or 49% of total revenues in Q3 and grew 18% compared to 3Q15. • Despite the volume increase, profitability of commodity shrimp business was under pressure as a result of mismatch shrimp price with sales contract. • The value added shrimp and squid business continued to deliver good results although availability of raw materials was a concern and will remain so during Q4. Corporate Access - 24 th January 2017
Tuna 3 rd Q Performance • Tuna Business sales revenues was 282 million Baht, a decline of 34% compared to the same quarter last year. • Capacity was reduce as Tuna price declined in 2Q16 and customers were reluctant to place orders, unless at very low prices, expecting further price decreases in Q3. • With tuna prices having leveled out at around 1400 USD/MT during the quarter, pricing has recovered from September onwards and volume and margins are expected to improve in Q4. Corporate Access - 24 th January 2017
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