Thai Plaspac Public Company Limited · SET:TPAC
Thai Plaspac Public — Q1 2024 Earnings Presentation
20 slides from Thai Plaspac Public's earnings presentation, Jun 5, 2024
Slide 1: Opportunity Day Q1'24, 5th June 2024
GLOBAL TRADE Opportunity Day PRESENTATION LOREM IPSUM DOLOR SIT AMET Q1’24 5th June 2024 Portfolio Presentation
Slide 2: Safe Harbour Statements
Safe Harbour Statements Certain words and statements in this communication concerning THAI PLASPAC PUBLIC COMPANY LIMITED (“the Company”) and its prospects, and other statements relating to the Company’s expected financial position, business strategy, the future development of the Company’s operatio
Slide 3: Company Overview
PAC, “GING | Company Overview
Slide 4: TPAC – A specialty packaging solution provider
TPAC – A specialty packaging solution provider Asia’s fastest TPAC design lab for Market leadership in customised growing packaging all our geographies** innovative company * packaging solutions Focused on Diversified 100% mono-material >90% portfolio in F&B customers base formats with proven > 1500
Slide 5: Rebirth of a local Thai company with change of control and new leadership
Rebirth of a local Thai company with change of control and new leadership coming in 2016. Since then series of clearly defined strategic choices taken with a vision to be the most respected packaging company • Listing on SET • Green field TPAC Change of M&A 3: expansions Incorporation Control and En
Slide 6: TPAC Group Corporate Structure
TPAC Group Corporate Structure Thai Plaspac Public Company Limited (Listed on SET) TPAC Packaging (Bangna) TPAC Packaging India Sun Packaging TPAC Packaging Combi-Pack Sdn. Bhd Company Limited Private Limited Systems (FZC) Philippines Inc. 100% 100% 89% 80% 100% TPAC Skypet India TPAC Custom Solutio
Slide 7: Sustained growth momentum over the last 5 years
Sustained growth momentum over the last 5 years giving us the title of Asia’s fastest growing packaging company. Revenue Core EBITDA Core EPS THB Mn THB Mn THB • Strong profitability witnessed over the last 5 years, growing at a CAGR of ~32%. • Core EPS of THB 1.51 for the year 2023 at all time high
Slide 8: Key Financial and Business Update – Q1'24
Key Financial and Business Update – Q1’24 8
Slide 9: Healthy geographic mix with India accounting for a lion share of revenues
Healthy geographic mix with India accounting for a lion share of the total revenues ▪ Sales by Geography * 13% India 14% 46% Thailand Malaysia 28% UAE ▪ Manufacturing presence in the emerging markets: 9 plants 2 plants 4 plants 1 plant 1 Plant Manufacturing Presence Export Destination * Basis Q1, FY
Slide 10: More than 90% of revenues come from food and pharma segments
More than 90% of the revenues come from food and pharma segments, requiring strict hygiene controls Sales by Segment * Pharmaceutical and Home Care and Food and Beverages Personal care Industrial 9% 15% 76% Food and Beverages Pharmaceutical and Personal Care Home Care and Industrial * Basis Q1, FY 2
Slide 11: Business wise performance during Q1'24 – Thailand and India Business
Business wise performance during Q1’24 – Thailand and India Business Thailand Business India Business • Strong Quarter on the back of volume growth • Strong reversal for India, after few subdued quarters, led by volume uptake in summer • Improved business profitability driven by season and commercia
Slide 12: Business wise performance during Q1'24 – UAE, Malaysia and Philippines Business
Business wise performance during Q1’24 – UAE, Malaysia and Philippines Business UAE Business Malaysia Business Philippines Business • • TPAC’s first ever green field expansion A record quarter for UAE, with • Market slowdown impacting the highest-ever sales volume and in an alien geography sales vol
Slide 13: TPAC's Global Outreach Initiatives: Expanding Horizons and Strengthening Relationships
TPAC's Global Outreach Initiatives: Expanding Horizons and Strengthening Relationships ▪ Engagement in Seminars and Exhibitions: TPAC has intensified its involvement by participating in international and regional exhibitions, with the objective of expanding its customer base and bolstering support f
Slide 14: First Ever Sustainability Report Published by TPAC
First Ever Sustainability Report Published by TPAC ▪ TPAC has recently launched its first ever sustainability report, marking a significant step in its commitment to environmental and social responsibility. ▪ Within this report, TPAC has outlined its key Sustainable Development Goals (SDGs), demonst
Slide 15: Financial Performance - Q1'24
Financial Performance - Q1’24 Revenue Core EBITDA Core EPS Core ROE Net Debt/Equity THB 1,842 Mn THB 358 Mn THB 0.42 15% 1.00x QoQ+7% QoQ +17% QoQ +42% QoQ +521 bps YoY +5% YoY +5% YoY -2% YoY -307 bps 01 Profitability jumped during Q1’24 as compared to Q4’23 due to higher sales volume and margin ex
Slide 16: Strong growth momentum witnessed during Q1'24
Strong growth momentum witnessed during Q1’24 Unit: THB Mn Quarterly Financial Years Q1'24 Q4'23 %∆ Q1'23 %∆1 FY'23 FY'22 %∆ Consolidated Sales 2 1,842 1,714 7% 1,749 5% 6,804 6,997 -3% EBITDA 358 303 18% 342 5% 1,317 1,069 23% Core EBITDA3 358 306 17% 342 5% 1,320 1,080 22% Core EBIT3 224 176 28% 2
Slide 17: Balance sheet size increasing with investments into growth capex
Balance sheet size increasing with investments into growth capex Asset Liabilities and Shareholder Equity Unit: THB Million Unit: THB Million 8,086 8,086 7,484 7,484 • Tangible and intangible fixed assets (~ THB 5.0 bn) • Increase in shareholders equity by ~ THB 302 Mn during comprise ~62% of the to
Slide 18: Cash generation from business continues to support organic growth capex
Cash generation from business continues to support organic growth capex. Unit: THB Million Cash flow bridge for Q1FY’24 • Higher working capital involvement for the quarter, leading to lower cash generation from operations than usual. Cash Flows (THB Million) Q1'24 Q4'23 FY2023 FY2022 • Investing ac
Slide 19: To Summarize
To Summarize Key takeaways • Asia’s fastest growing packaging company. Management track record of delivering. • Focused on sustainable mono-material packaging with proven mechanical recyclability. • Specialty focus in food and pharmaceuticals. Sticky, resilient and hard to penetrate segments. • Trus
Slide 20: Q&A
Q&A 20
Thai Plaspac Public Company — Q1 2024 Earnings Presentation on 6ix