Thai Beverage Public Co., Ltd. · SGX:Y92
Thai Beverage Public — Thai Beverage — Q1 2011 Earnings Presentation
19 slides from Thai Beverage Public's earnings presentation, May 13, 2011
Slide 1: Thai Beverage PLC. Q1'11 Financial Results
Thai Beverage PLC. Q1’11 Financial Results 13 MAY 2011
Slide 2: Note on Forward Looking Statements
Note on Forward Looking Statements • The following presentation may contain forward looking statements by the management of Thai Beverage Public Company Limited (“ThaiBev"), relating to financial or other trends for future periods, compared to the results for previous periods. • Some of the statemen
Slide 3: Understanding this Presentation
Understanding this Presentation • Since 1 January 2011, the Company has adopted Thai Financial Reporting Standards (TFRS) in conformity with International Financial Reporting Standards (IFRS). Operation performance report for the period of 2010 has already been restated to comply with the above chan
Slide 4: Highlights
ThaiBev = — Highlights
Slide 5: Consolidated: Q1'11 Highlights
Consolidated: Q1 Q1’11 Highlights (M Baht) Group Q1'10 Q1'11 Change Sales Revenue 29,887 31,029 3.8% COGS (22,054) (22,719) % of Sales Revenue 73.8% 73.2% SG&A (4,096) (4,113) % of Sales Revenue 13.7% 13.3% EBITDA 4,912 5,009 2.0% Net Profit 2,661 2,988 12.3% Less: Minority interests (22) (30) Net P
Slide 6: Contribution per Business Segment
Contribution per Business Segment Q1’11 Net Profit Sales 103.4% 64.8% 26.3% 5.6% 3.6% 4.3% 1.2% -0.3% -8.9% Spirits Beer Non-Al Food Elimination Spirits Beer Non-Al Beverages Food Beverages Thai Beverage PLC.: Q1’11 Page 6
Slide 7: Total Sales Volume
Total Sales Volume Volume (M Liters) 167 Q1'10 Q1'11 156 128 132 57 50 28 20 7 9 1.9 1.8 % increase/ Spirits Beer Oishi Energy drink Soda Water -% decrease 3.5% -6.1% 12.0% -7.2% 23.6% 38.2% Thai Beverage PLC.: Q1’11 Page 7
Slide 8: Business Segments
ThaiBev = — Business Segments
Slide 9: Spirits
Spirits Spirits Q1'10 Q1'11 Change (M Baht) Sales Revenue 18,917 20,117 6.3% COGS (12,673) (13,583) % of Sales Revenue 67.0% 67.5% SG&A (2,175) (2,132) % of Sales Revenue 11.5% 10.6% EBITDA 4,704 4,786 1.7% Net Profit 2,870 3,090 7.7% Margin* EBITDA 24.9% 23.8% Net Profit 15.2% 15.4% * margins are %
Slide 10: Spirits Revenue - Cost Break Down
Spirits:: Revenue Spirits Revenue--Cost Break Down (% of total revenue) Q1’11 49.6% 15.4% 10.6% 9.2% 6.7% 5.4% 0.7% 1.0% 1.4% Net profit Int. exp.+ Inc. SG&A Excise Tax Packaging Raw Material Depreciation Labor Other Tax Thai Beverage PLC.: Q1’11 Page 10
Slide 11: Beer
Beer Beer Q1'10 Q1'11 Change (M Baht) Sales Revenue 8,513 8,154 -4.2% COGS (7,767) (7,285) % of Sales Revenue 91.2% 89.3% SG&A (1,235) (1,226) % of Sales Revenue 14.5% 15.0% EBITDA (Loss) (79) (71) 10.1% Net Profit (Loss) (372) (265) 28.8% Margin* EBITDA (-Loss) -0.9% -0.9% Net Profit (-Loss) -4.4%
Slide 12: Beer Revenue - Cost Break Down
Beer:: Revenue Beer Revenue--Cost Break Down (% of total revenue) Q1’11 63.3% 15.0% 13.2% 6.8% 2.1% 1.1% 2.6% -3.2% -0.9% Net profit Int. exp.+ Inc. SG&A Excise Tax Packaging Raw Material Depreciation Labor Other Tax Thai Beverage PLC.: Q1’11 Page 12
Slide 13: Non-alcoholic Beverages
Non--alcoholic Beverages Non Non-alcoholic Beverages Q1'10 Q1'11 Change (M Baht) Sales Revenue 1,580 1,724 9.1% COGS (1,077) (1,215) % of Sales Revenue 68.2% 70.5% SG&A (415) (428) % of Sales Revenue 26.2% 24.8% EBITDA 185 178 -3.8% Net Profit 107 129 20.6% Margin* EBITDA 11.7% 10.3% Net Profit 6.8%
Slide 14: Food
Food Food Q1'10 Q1'11 Change (M Baht) Sales Revenue 901 1,105 22.6% COGS (558) (702) % of Sales Revenue 61.9% 63.5% SG&A (287) (344) % of Sales Revenue 31.8% 31.1% EBITDA 102 116 13.7% Net Profit 56 34 -39.3% Margin* EBITDA 11.3% 10.5% Net Profit 6.2% 3.1% * margins are % of sales revenue Sales reve
Slide 15: Update: International Business
Update: International Business ThaiBev’s international operations continued to grow with sales increase of 41% in Q1’11, and the net profit increased by 48% when compared YoY • ASEAN – ASEAN performance was driven by Chang Beer with growth of over +20% • USA – Chang beer sales in the US market grew
Slide 16: Financials
Financials
Slide 17: Interest Bearing Debt
Interest Bearing Debt Interest Bearing Debt 31-Dec-10 31-Mar-11 (Million Baht) Current Bank overdrafts 568 962 Short-term loans from financial institutions 5,694 7,394 Current portion of long-term loans 2,500 1,000 8,762 9,356 Non-current Long-term loans from financial institutions 600 600 600 600 T
Slide 18: Financial Ratios
Financial Ratios Ratios 31-Dec-10 31-Mar-11 Current Ratio 1.92 1.91 Total Debt to Equity 0.35 0.40 Net Asset Value per Share (Baht) 2.25 2.35 Net Asset Value per Share (SGD)* 0.09 0.10 * exchange rate at THB 24: SGD 1 Turnovers (days) Jan-Mar 10 Jan-Mar 11 A/R Turnover 6 6 Inventory Turnover Spirits
Slide 19: ThaiBev
ThaiBev = —