TKN OPPORTUNITY DAY
Taokaenoi Food & Marketing Public Company Limited PRESENTATION AGENDA
Company Overview
Financial Performance
Business Outlook
Q&A TKN STOCK OVERVIEW
Key Information : • Registered Capital 345 Mil Baht (1,380 Mil Share) • Issued & Paid Up Capital 345 Mil Baht (1,380 Mil Share) • SET Index SET 100 / MSCI Global Small Cap Index / FTSE SET Mid Cap Index / FTSE SET Shariah Index • CGR 2017 • Dividend Policy : 40% of Net Profit (Separate FS) Dividend B / Share Payment Date Yr 2017 : 81% of Net Profit (Separate FS) 12M / 2017 0.170 May 4, 18
6M / 2017 0.170 Sep 13, 17 As of May 10, 2018 12M / 2016 0.300 May 12, 17 • Major Shareholders Peeradechapan group 60.39 %
6M / 2016 0.190 Sep 7, 16 Free Float 34.09 %
12M / 2015 0.105 Apr 29, 16 • Market Cap 24,426 Mil B (@ 17.70 baht/share)
TAOKAENOI FOOD & MARKETING PLC. 3 A BRIEF COMPANY HISTORY 5.3 BILLION BAHT IN REVENUE Insert some short and brief lorem ipsum explanatory text about [tle here
2.7 BILLION BAHT IN REVENUE 2.1 BILLION BAHT IN REVENUE 1.0 BILLION BAHT IN REVENUE
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
COMPANY OVERSEAS TAOKAENOI THE PUBLIC CAPACITY STABLISHMENT DISTRIBUTOR LAND BILLIONAIRE COMPANY EXPANSION • Company • Appointed 1st • Opened premium • Movie based on • Listed in Stock • Start operation on established with distributor in snack shop for true story of the Exchange of Rojana factory paid-up capital 1 Singapore tourist channel company & founder Thailand (SET) • Acquire 'Taokaenoi Mil Baht “Mr.Itthipat USA Inc.' Peeradechapan”
TAOKAENOI FOOD & MARKETING PLC. 4 OUR BOARD OF DIRECTOR
Yuth Worachattarn Wanee Tassanamontien Chaiyong Rattanacharoensiri Somboon Prasitjutrakul Chairman / Independent Director / Independent Director / Director & Independent Director AC Chairman NRC Chairman Executive Committee
Itthipat Peeradechapan Orrapat Peeradechapan Nutchatpong Peeradechapan Porntera Rongkasiripan Director / Director / Director / Director / Chief Executive Officer Managing Director Managing Director Internal Audit Director
TAOKAENOI FOOD & MARKETING PLC. 5 OUR MANAGEMENT
Itthipat Peeradechapan Orrapat Peeradechapan Nutchatpong Peeradechapan Jirapong Suntipiromkul Boonchai Kowpanich Chief Executive Officer / Managing Director : Managing Director : Chief Financial Officer Chief Operating Officer Founder International Trade & Management Business Support (CFO) (COO)
TAOKAENOI FOOD & MARKETING PLC. 6 COMPANY VISION & MISSION
VISION : The Company is committed to develop nutritious, tasty, and consumption-convenient products and promote 'Taokaenoi' brand toward worldwide recognition.
MISSION : The Company is committed to promote and deliver I innovation in consumption of nutritious, tasty, and consumption-convenient food to millions of consumers worldwide. The Company is committed to continuously create II brand awareness among consumers in innovative products. The Company is committed in developing innovative III products and applying technologies into production processes.
The Company is committed in treating its emplyees, IV business partners, and consumers as one of the family members. TAOKAENOI FOOD & MARKETING PLC. 7 PRESENTATION AGENDA
Company Overview
Financial Performance
Business Outlook
Q&A FINANCIAL HIGHLIGHTS unit : Mil Baht 400 YR 2016 YR 2017 YR 2018 Q1/18 Sales +19% YOY 300 234 200 202 185 172 161 160 152 1,336 Mil Baht 100 135 142 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 • Q1/18 Sales 1,336 Mil Baht Q1/18 Net Profit -22% YOY +19% YOY, -12% QOQ
• YOY Sales Growth TH +14%, IM +22% 152 Mil Baht (11.4%) • TH Market Share 80% • Q1/18 Net Profit 152 Mil Baht (11.4%) • Sales Portion TH 39% : IM 61% -11% YOY, +7% QOQ
TAOKAENOI FOOD & MARKETING PLC. 9 SALES BY QUARTER
unit : Mil Baht
2000 YR 2016 YR 2017 YR 2018
1,526 1500 1,405 1,307 960 1,336 1,261 859 IM Growth YOY 1,212 814 1,120 755 848 1,121 +22% YOY 1,018 716 625 665 -15% QOQ 1000 557
500 566 TH Growth YOY 495 506 496 546 522 461 459 456 +14% YOY -8% QOQ 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Thailand Int Mkt
TAOKAENOI FOOD & MARKETING PLC. 10 THAILAND SALES PERFORMANCE
DOMESTIC SALES : 522 Mil B (+14% YOY) • Seaweed Snack +8% YOY • Domestic consumption +11% YOY • Chinese tourist growth significantly • Taokaenoi Land 13 branches (+2 shops) •Whey Protein • Channel sales expansion to Modern Trade channel
TAOKAENOI FOOD & MARKETING PLC. 11 SALES BY COUNTRY
1% unit : % 1%1% 1% 2% 3% 6% 3%
Thailand 39%
China 42% EXPORT SALES : 814 Mil B (+22% YOY) • High growth on China, Indonesia, CLMV, and
Thailand China Malaysia Indonesia Singapore Hong Kong USA Cambodia Vietnam Myanmar Others • Marketing Spending for brand building
TAOKAENOI FOOD & MARKETING PLC. 12 CHINA SALES PERFORMANCE
unit : Mil Baht 800 YR 2016 YR 2017 YR 2018
600 627 598 565 510 536 +26% YOY 400 449 429 344 371 -10% QOQ 200
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
CHINA SALES : 565 Mil B (+26% YOY) • 2 Distributors in Shanghai and Guangzhou • Overseas office in Shanghai (mid Q3) • TKN official account on top E-commerce website
TAOKAENOI FOOD & MARKETING PLC. 13 SALES BY PRODUCT
unit : Mil Baht 2% 5% 2,000 YR 2016 YR 2017 YR 2018 5% 1,500 704 527 617 645 1,000 522 475 371 418 474 Crispy SW 500 610 629 692 605 602 669 40% 568 549 538
Grilled SW Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 48% Crispy Seaweed Grilled Seaweed Roasted Seaweed Tempura Seaweed
Crispy SW Grilled SW Roasted SW Tempura SW Others
TAOKAENOI FOOD & MARKETING PLC. 14 COST STRUCTURE
Factory Capacity Utilization unit : % Grand Total 7,500 86% Overhead 7% - Nopawong 4,600 88% Labor Cost 18% - Rojana 2,900 83% Seaweed 44% Other Materials Cost Structure Ratio 9% Direct Material 75.1% Packaging 43.7% 23% - Seaweed - Packaging 22.5%
- Other Materials 9.0% • Gross margin impact from seaweed cost of 2017 and entire cost recognition per unit of Rojana factory Labor Cost 17.8% still be high Overhead 7.1%
TAOKAENOI FOOD & MARKETING PLC. 15 PROFIT SUMMARY unit : Mil Baht 400 YR 2016 17.9% YR 2017 YR 2018 0.2 16.5% 15.8% 16.0% 15.2% 300 0.16 11.2% 11.4% 11.4% 9.3% 0.12 200 234 185 202 0.08 161 171 160 135 142 152 100 0.04 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Net Profit % Net Profit
Profit & Loss Q1/18 YTD MAR 18 Mil B % on Sales Mil B % on Sales Gross Margin 377.0 28.2 377.0 28.2 Selling Expenses 156.1 11.7 156.1 11.7 Administrative Expenses 60.1 4.5 60.1 4.5 Net Profit 151.7 11.4 151.7 11.4
TAOKAENOI FOOD & MARKETING PLC. 16 BALANCE SHEET
Separate Financial Statements Unit Mar 18 Dec 17 Change
A/R - local collec[on period Days 93 85 8
A/R - export collec[on period Days 16 15 1
Finished goods holding period Days 9 7 2
Inventory holding period Days 78 61 17
A/P payment period Days 28 32 (4)
DE Ra[o Times 0.52 0.48 0.04
TAOKAENOI FOOD & MARKETING PLC. 17 PRESENTATION AGENDA
Company Overview
Financial Performance
Business Outlook
Q&A TKN BUSINESS OUTLOOK
MEDIUM TERM PLAN : The Company is determined to become a 'Global Snack Company' with THB 10 billion in annual revenue and market coverage in more than 100 countries worldwide by 2024.
COMPETITIVE ADVANTAGE :
Brand Building Brand Story, Customer Focus
Technology Machine, Packaging, Seasoning House Distribution Channel China, Indonesia, CLMV
Supply Chain Raw Material
TAOKAENOI FOOD & MARKETING PLC. 19 PRESENTATION AGENDA
Company Overview
Financial Performance
Business Outlook
Q&A Q&A
TAOKAENOI FOOD & MARKETING PLC. 21 CONTACT • Address: Taokaenoi Food & Marketing PLC. 337 Bond Street Road, Bangpood, Pakkred, Nonthaburi 11120 Thailand +66 2984 0666 • Investor Relations: Koosoon Rattanaporn [email protected] +66 2984 0666 #315 Disclaimer The information contained here is being furnish on a confidential basis for discussion purposes only and only for the use of the recipient, and may be subject to completion or amendment through the delivery of additional documentation. Except as otherwise provided herein, this document does not constitute an offer to sell or purchase any security of engage in any transaction. The information contained herein has been obtained from sources that Taokaenoi Food & Marketing Public Company Limited (“TKN”) considers to be reliable; however, TKN makes no representation as to, and accepts no responsibility or liability for, the accuracy or completeness of the information contained herein. Any projections, valuations and statistical analyses contained herein have been provided to assist the recipient in the evaluation of the matters described herein; such projections, valuations and analyses may be based on subjective assessments and assumptions and may utilize one among alternative methodologies that produce differing results; accordingly, such projections, valuations and statistical analyses are not to be viewed as facts and should not be relied upon as an accurate representation of future events. The recipient should make an independent evaluation and judgement with respect to the matters contained herein.
TAOKAENOI FOOD & MARKETING PLC. 22