Cp All Public Company Limited · SET:CPALL
Cp All Public — Q3 2025 Earnings Presentation
26 slides from Cp All Public's earnings presentation, Nov 12, 2025
Slide 1: Condolences to Her Majesty Queen Sirikit
The executives and employees of CP ALL Public Company Limited, as loyal subjects of the Thai Kingdom, express our deepest condolences and heartfelt mourning while paying tribute to Her Majesty Queen Sirikit The Queen Mother’s boundless benevolence and immeasurable grace. 1
Slide 2: 3Q25 CPALL Business and Performance Briefing
3Q25 CPALL Business and Performance Briefing ร้านยา เอ็กซ์ต้า พลัส November 12, 2025 2
Slide 3: Financial Highlights 3Q25
Financial Highlights 3Q25 Another remarkable milestone achieved Consolidated Performance Total Revenue Net Profit GP Margin EBIT Margin 250,655 6,597 22.8 5.0 Millions Baht Millions Baht Percent Percent +3.9% +17.6% +3.9% +8.7% amount growth amount growth Company Only Performance Total Revenue Net P
Slide 4: Financial Highlights 9M25
Financial Highlights 9M25 Another remarkable milestone achieved Consolidated Performance Total Revenue Net Profit GP Margin EBIT Margin 759,949 20,950 22.8 5.3 Millions Baht Millions Baht Percent Percent +4.1% +15.3% +5.4% +8.9% amount growth amount growth Company Only Performance Total Revenue Net
Slide 5: Business Segment Performance
Business Segment Performance CVS & Others and Grocery Wholesaling and Retailing 9M25 Revenue contribution before elimination CPAXT Sales Services Wholesale 207,674 2,439 Millions Baht Millions Baht +2.9% -32.0% v Sales Services Retail and 162,927 11,183 mall Millions Baht Millions Baht 9M25 EBIT con
Slide 6: Store Types Breakdown
Store Types Breakdown Ongoing store expansion BKK & Suburban / Provincial Corporate / Store Business Partner & Sub-area (Unit: Stores) (Unit: Stores) 58% 49% 42% 51% Stand-alone / In PTT gas station Store Expansion (Unit: Stores) 14% 2022 2023 2024 +704 +707 +700 86% 1Q25 2Q25 3Q25 +185 +165 +169 6
Slide 7: International Expansion in 9M25
International Expansion in 9M25 Steady ongoing store expansion 20 Stores (+10) 15,764 Stores (+519) 125 Stores (+13) 7
Slide 8: Same Store Sales Growth
Same Store Sales Growth Resilient sales amid challenging circumstances SSSG (%) Average daily sales / store (Baht) 2022 2023 2024 +15.9% +5.5% +3.8% 1Q25 2Q25 3Q25 +3.0% -0.8% -0.5% Spending per ticket (Baht) No. of customer/store/day (customers) 9
Slide 9: CVS: Offline to Online (O2O)
CVS: Offline to Online (O2O) A strong journey marked by consistently positive response O2O contribution (2022-9M25) 11% 11% 11% 10% 2022 2023 2024 9M 25
Slide 10: Product Sales Mix and Gross Margin
Product Sales Mix and Gross Margin Managing product mix to enhance margin Product Sales Mix Personal Care Household & Others Cigarette Food Services i.e. RTE Processed Food Beverage Product Margin Non-foods Total Products Foods 11
Slide 11: SG&A Expenses
SG&A Expenses Leverage fixed cost to enhance cost control efficiency Consolidated SG&A Expense (Unit: Million Baht) +5.0% YoY Others Utilities Advertising Store MGT Fee Rental and D&A Personnel 3Q25 : 51,004 MB Company Only SG&A Expense (Unit: Million Baht) +8.0% YoY Others Utilities Advertising Sto
Slide 12: Profitability Ratios – Company Only
Profitability Ratios – Company Only Demonstrate a journey marked by resilient growth Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +6.7% YoY (Unit: Million Baht) +12.5% YoY EBITDA Net Profit (Unit: Million Baht) +10.0% YoY (Unit: Million Baht) +16.4% YoY 13
Slide 13: Profitability Ratios – Consolidated
Profitability Ratios – Consolidated Demonstrate a journey marked by resilient growth Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +3.9% YoY (Unit: Million Baht) +8.7% YoY EBITDA Net Profit (Unit: Million Baht) +6.4% YoY (Unit: Million Baht) +17.6% YoY 14
Slide 14: Leverage Ratios
Leverage Ratios Preserved solid financial ground Cash& Cash equivalent Interest • As of 30 September 2025, CPALL reported bearing debt consolidated interest bearing debt at amount of Baht 321,196 million. Other Other liabilities • Net debt to adjusted equity was at 0.83x assets vs bond covenant at 2
Slide 15: Working Capital
Working Capital Negative cash cycle days Consolidated Cash Cycle Days CVS Cash Cycle Days (Unit: Days) (Unit: Days) 16
Slide 16: 7-Eleven expansion and CAPEX plan
7-Eleven expansion and CAPEX plan Continuity of store expansion along with efficient budget 2025 CVS Projected CAPEX 7-Eleven Stores Expansion Stores MB ▪ Stores expansion 3,800 – 4,600 • Thailand 700 ▪ Stores renovation 2,900 – 3,500 • Cambodia >10 ▪ Investment in new projects, subsidiaries & DC 4,
Slide 17: Q&A Thank you
Q&A Thank you 18
Slide 18: Consolidated Financial Statement: Balance Sheet
Consolidated Financial Statement Balance Sheet 2022 2023 2024 1Q24 2Q24 3Q24 1Q25 2Q25 3Q25 Unit : Million Baht Cash & Cash equivalent 71,424 67,234 54,613 56,413 54,087 45,980 48,994 37,680 40,365 Inventory 58,183 57,501 61,269 59,269 56,402 57,763 62,373 62,318 63,692 Fixed assets 257,540 258,326
Slide 19: Consolidated Financial Statement: Income Statement
Consolidated Financial Statement Income Statement 2022 2023 2024 1Q24 2Q24 3Q24 1Q25 2Q25 3Q25 Unit : Million Baht Revenue from Sales & Services 829,099 895,281 958,998 234,315 240,948 234,044 245,798 248,865 242,599 Other Income 23,506 25,906 28,796 6,991 7,079 7,238 7,083 7,709 8,055 Total revenue
Slide 20: Consolidated Financial Statement: Financial Ratios
Consolidated Financial Statement Financial Ratios 2022 2023 2024 1Q24 2Q24 3Q24 1Q25 2Q25 3Q25 Gross margin (sales & service) (%) 21.5% 21.9% 22.6% 22.3% 22.4% 22.7% 22.8% 22.8% 22.8% Operating margin (%) 4.3% 4.7% 5.2% 5.3% 5.0% 4.8% 5.7% 5.1% 5.0% EBITDA margin (%) 8.6% 8.6% 8.9% 9.1% 8.7% 8.6% 9.
Slide 21: Company Only Financial Statement: Balance Sheet
Company Only Financial Statement Balance Sheet 2022 2023 2024 1Q24 2Q24 3Q24 1Q25 2Q25 3Q25 Unit : Million Baht Cash & Cash equivalent 20,995 25,956 24,149 25,211 22,916 18,330 27,693 18,545 19,804 Inventory 18,007 19,339 22,123 19,634 19,278 19,356 21,725 22,150 22,531 Fixed assets 43,454 46,569 48
Slide 22: Company Only Financial Statement: Income Statement
Company Only Financial Statement Income Statement 2022 2023 2024 1Q24 2Q24 3Q24 1Q25 2Q25 3Q25 Unit : Million Baht Revenue from Sales & Services 354,973 399,558 439,787 105,861 112,044 107,850 113,970 117,706 113,853 Other Income 27,517 29,938 33,222 8,781 9,562 7,925 7,960 12,383 8,870 Total revenu
Slide 23: Company Only Financial Statement: Financial Ratios
Company Only Financial Statement Financial Ratios 2022 2023 2024 1Q24 2Q24 3Q24 1Q25 2Q25 3Q25 Gross margin (sales & service) (%) 27.4% 28.2% 29.0% 28.7% 29.0% 29.1% 29.4% 29.3% 29.4% Operating margin (%) 5.6% 6.2% 7.1% 8.1% 8.0% 6.4% 8.0% 9.4% 6.8% EBITDA margin (%) 9.9% 10.1% 10.8% 11.8% 11.5% 10.
Slide 24: ESG: Progress Towards 2030 Sustainability Goals
ESG: Progress Towards 2030 Sustainability Goals for Phase 2 in 2021-2030 Significant material topics in 2024 Governance and Economic Environmental Dimension Social Dimension Dimension 7 Go Green 7 Go Together 7 Go Right 2024 2024 2024 Topic Goal Performance Topic Goal Performance Topic Goal Performa
Slide 25: Major Shareholders and Dividend Payment
Major Shareholders (as of Mar 12, 2025) Price (Nov 10, 2025) : Bt 45.50 - CPG 35.9% Hi/Low (12-month) : Bt 65.00/ 41.50 per share - Thai NVDR 13.2% Avg. daily turnover : 1,701 MB - Social Security Office 3.1% No. of shares : 8,964 M. (Par Bt1.00) - South East Asia UK 3.0% - State Street Europe Limit
Slide 26: Disclaimer
Disclaimer Items published on this presentation as IR information are intended to provide financial information or business information or etc. of CPALL. Some content may contain forward-looking statements, that based on management’s view upon the information currently available to us. These informa
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