O1O7560000397 Vision To be a world leading food producer and brand name that are well-accepted and recognized by consumers of all household for our safe and international standard products under creative and innovative management with responsibilities to social and environment for the long-term sus- tainability. Mission 1. Maximize the consumer’s benefit with safe, quality and nutritious convenient food products at reasonable price. 2. Develop capabilities of our human resources leading the company to be learning organization for everyone. 3. To enhance production efficiency with modern technology, and support research and development to initiate foods innovation as well as effective management system based on the Big Data information. 4. Search for marketing opportunity and channel for continuously growth of our business around the world. 5. Build trust among stakeholders with emphasis on social responsibility as well as protections of natural resource and environment using good governance for sustainable development. Core values Participation Organization World Class Ethics Responsibility Sustainability that Learns 25,000 21,631 21,144 19,950 20,000 15,000 21,631 10,000 Sale Revenues 5,000 UNIT : Million Baht 2017 2016 2015 3,000 2,853 2,871 2,558 2,500 2,853 2,000 1,500 Net Profit 1,000 of Equity Holders of the Company 500 UNIT : Million Baht 2017 2016 2015 30,000 29,423 27,286 25,000 24,690 20,000 29,423 15,000 Total 10,000 Assets UNIT : Million Baht 2017 2016 2015 2 Thai President Foods Public Company Limited | Annual Report 2017 Highlights of the year Consolidated 2017 Change (%) 2016 Change (%) 2015 Performance (Million Baht) Sales 21,631 2.30 21,144 5.98 19,950 Total Revenues* 22,218 2.29 21,721 6.17 20,460 Net Profit of Equity Holders of the Company 2,853 -0.63 2,871 12.24 2,558 Total Assets 29,423 7.83 27,286 10.51 24,690 Total Liabilities 3,706 -6.77 3,975 6.17 3,744 Total Shareholders' Equity 25,717 10.32 23,311 11.29 20,946 Per Share Data (Baht) Earnings per Share 8.65 -0.69 8.71 12.24 7.76 Dividend Per Share 3.61 -0.39 3.63 14.95 3.16 Book Value per Share 78.00 10.33 70.70 11.29 63.53 Financial Ratio Current Ratio 5.07 25.56 4.04 -1.16 4.09 Average Collection Period (Days) 61 8.93 56 0.00 56 Return on Assets 14.45 -8.70 15.83 1.67 15.57 Debt to Equity 0.14 -15.49 0.17 -4.60 0.18 Times Interest Earned 250.12 10.03 227.32 41.92 160.17 Rate of Return (%) Gross Profit Margin 33.64 -0.30 33.93 0.58 33.35 Net Profit Margin 17.29 -0.80 18.09 1.12 16.97 Return on Equity 19.14 -2.50 21.65 0.38 21.27 * Included the Share of profit from investments in associates ** Adjusted tobe the same base at 329,704,014 shares Highlights of the year 3 VISION TRANSFORMATION TEAMWORK AS ONE COMPANY We strive to be the global leading food manufacturer that provides satisfaction to consumer through its quality. 4 Thai President Foods Public Company Limited | Annual Report 2017 “MAMA”, the brand that consumers acknowledge and prefer having in every household. Products with international standards of safety and quality are delivered to TEAMWORK consumers in many countries. Operate innovative and socially responsible business for the long-term sustainability Message from the Board of Directors Over the past several years including the year 2017, the global economic, social and political conditions became unstable resulting in the fluctuation in the monetary and capital markets, the depreciation of US dollar compared to other currencies, the change in consumer’s behaviors, and the likeliness of migration into the big cities. Considering the economic slowdown in Thailand, although the export trend is improving, the continuously appreciation of Thai baht, the increasing basic labor costs, the higher energy price are still negative factors affecting the cost of products and the transportation cost. However, in the next five to ten years, the opportunities occurring from Eastern Special Economic Zone (EEC) policy will create the development in the infrastructure and utilities to serve the target in- dustry. During the past year, the Company has participated in the Achievement Award 2017: Best Thailand Deal by Finance Asia, the leading financial magazine, from the Company’s restructuring with the amalgamation between Thai President Foods Public Company Limited (TF) and President Rice Products Public Company Limited (PR) to become Thai President Foods Public Company Mr. Boonsithi Chokwatana Chairman of the Board 6 Thai President Foods Public Company Limited | Annual Report 2017 Limited (TFMAMA) on 16th October, 2017, with the objective in being able to respond to the changes in a timely manner with efficiency and sustainable growth. After the amalgamation, the Company has set the direction of the policy of research, development and application of robots in works as well as studying the use of Big Data to serve new opportunities. Businesses can adapt to change and meet the needs of stakeholders with good governance. From such merger amalgamation, the Company is able to achieve the target of generating total Company’s revenue of up to 20 billion Baht. The Company is confident that, with the effective management policies and the appropriate investment strategy supplementary with the strength of this new structure, the Company can generate revenue to new targets at 30 billion Baht by the year 2022. Such success will not happen at all without the cooperation from all departments in the Company, shareholders, business partners, and all stakeholders. In this occasion, the Company would like to thank and hope to receive support and help to push the Company to sustainable growth forever. Mr. Pipat Paniangvait Vice Chairman of the Board / Chief Executive Officer Message from the Board of Directors 7 Organization Chart BOARD OF DIRECTORS NOMINATION AND REMUNERATION COMMITTEE AUDIT COMMITTEE CHIEF EXECUTIVE OFFICER CEO'S OFFICE INTERNAL AUDIT DEPT. PRESIDENT VICE PRESIDENT ASSISTANT VICE PRESIDENT RESEARCH QUALITY ASSURANCE PLANT BUSINESS EXPORT DEVELOPMENT SRIRACHA, LUMPHUN DEVELOPMENT RAYONG, BANPONG 1, BANPONG 2 8 Thai President Foods Public Company Limited | Annual Report 2017 COMPANY SECRETARY RISK MANAMENT COMMITTEE VICE CHAIRMAN OVERSEAS INVESTMENT OFFICE RISK MANAMENT TEAM PRESIDENT'S OFFICE FINANCE & INVESTMENT ACCOUNTING HUMAN RESOURCE AND SOURCING INFORMATION TECHNOLOGY ADMINISTRATION Organization Chart 9 Board of Directors Mr. Boonsithi Chokwatana Mr. Karmthon Punsak-Udomsin Mr. Pipat Paniangvait Mr. Suchai Ratanajiajaroen Chairman of the Board/ Vice Chairman of the Board Vice Chairman of the Board/ Vice Chairman of the Board/ Chairman of the Nomination Nomination and Remuneration Risk Management Committee and Remuneration Committee Committee Dr. Poj Paniangvait Mr. Kamthorn Tatiyakavee Mr. Apichart Thammanomai Mr. Boonchai Chokwatana Director/ Director Director Director Risk Management Committee 10 Thai President Foods Public Company Limited | Annual Report 2017 Mr. Vathit Chokwatana Miss Pojjana Paniangvait Dr. Kulpatra Sirodom Thanpuying Angkab Punyashthiti Director Director/ Independent Director/ Independent Director/ Risk Management Committee Chairman of Audit Committee Audit Committee Mr. Chaiwat Maraprygsavan Prof. Dr. Visith Chavasit Mr. Saroch Chayavivatkul Independent Director/ Independent Director/ Independent Director Audit Committee/ Chairman of Risk Management Nomination and Remuneration Committee Committee Board of directors 11 Audit Committee Dr. Kulpatra Sirodom Thanpuying Angkab Punyashthiti Mr. Chaiwat Maraprygsavan Chairman of Audit Committee Audit Committee Audit Committee Nomination and Remuneration Committee Mr. Boonsithi Chokwatana Mr. Pipat Paniangvait Mr. Chaiwat Maraprygsavan Chairman of the Nomination Nomination and Remuneration Nomination and Remuneration and Remuneration Committee Committee Committee 12 Thai President Foods Public Company Limited | Annual Report 2017 Risk Management Committee Prof. Dr. Visith Chavasit Mr. Suchai Ratanajiajaroen Chairman of Risk Management Risk Management Committee Committee Dr. Poj Paniangvait Miss Pojjana Paniangvait Risk Management Committee Risk Management Committee Board of directors 13 Management Team Mr. Pipat Paniangvait Mr. Suchai Ratanajiajaroen Chief Executive Officer Vice Chairman Dr. Poj Paniangvait Dr. Pojjanee Paniangvait President Vice President Miss Pojjana Paniangvait Ms. Hatairat Kwangchit-Aree Assistant Vice President Assistant Vice President Mrs. Sodsai Hanchana Mr. Petch Paniangvait Assistant Vice President Manager, Foreign Investments Office Miss Sararath Tangsirimongkol Mr. Pun Paniangvait Manager, Accounting Dept. & Manager, Presidents Office Company Secretary 14 Thai President Foods Public Company Limited | Annual Report 2017 Mr. Wasan Boonsampankit Manager, Finance & Mr. Ittiphon Khouharat Investment Dept. (CFO) Manager, Business Development Dept. Mr. Sorayut Raksasri Miss Prapin Lawanprasert Manager, Human Resource & Manager, Sourcing Dept. Administration Dept. Miss Ariya Tangcheevinsirikul Mr. Chumpol Temiyasathit Manager, Internal Audit Dept. Manager, Research Development Dept. Miss Sawita Sakulthanasombat Miss Nimol Kijkhan Manager, Quality Assurance Dept. Manager, Sriracha Factory Mrs. Suchada Paniangvait Mr. Nirun Poothong Manager, Lamphun Factory Manager, Rayong Factor Management Team 15 Management Management Structure The Board of Directors The Directors of the Company shall perform the duties of the Board of Directors and 3 Committee, including Audit Com- mittee, Nominating and Remuneration Committee, Risk Management Committee. According to the