Cp All Public Company Limited · SET:CPALL
Cp All Public — Q2 2024 Earnings Presentation
23 slides from Cp All Public's earnings presentation, Aug 13, 2024
Slide 1: 2Q2024 CPALL Business and Performance Briefing
2Q2024 CPALL Business and Performance Briefing August 13, 2024 1
Slide 2: Financial Highlights 2Q24
Financial Highlights 2Q24 Another remarkable milestone achieved Consolidated Performance Total Revenue Net Profit GP Margin EBIT Margin 248,026 6,239 22.4 5.0 Millions Baht Millions Baht Percent Percent +6.9% +40.6% +9.1% +21.4% amount growth amount growth Company Only Performance Total Revenue Net
Slide 3: Financial Highlights 1H24
Financial Highlights 1H24 Another remarkable milestone achieved Consolidated Performance Total Revenue Net Profit GP Margin EBIT Margin 489,333 12,559 22.4 5.2 Millions Baht Millions Baht Percent Percent +7.7% +46.7% +10.2% +22.5% amount growth amount growth Company Only Performance Total Revenue Ne
Slide 4: Business Segment Performance
Business Segment Performance CVS & Others and Grocery Wholesaling and Retailing 1H24 Revenue contribution before elimination Sales Services Wholesale 134,968 2,429 Millions Baht Millions Baht +5.6% -6.0% Sales Services 107,588 7,395 Retail Millions Baht Millions Baht +5.2% +0.1% 1H24 EBT contributio
Slide 5: Store Types Breakdown
Store Types Breakdown Ongoing store expansion BKK & Suburban / Provincial Corporate / Store Business Partner & Sub-area (Unit: Stores) (Unit: Stores) 57% 49% 43% 51% Stand-alone / In PTT gas station Store Expansion (Unit: Stores) 14% 2019 2020 2021 2022 2023 +724 +720 +702 +704 +707 86% 1Q24 2Q24 +1
Slide 6: International Expansion in 1H24
International Expansion in 1H24 Discover heartwarming welcome 6 Stores 87 Stores 7
Slide 7: Same Store Sales Growth
Same Store Sales Growth A surge in-store visitors, resulted in robust sales SSSG (%) Average daily sales / store (Baht) 2019 2020 2021 2022 +1.7% -14.5% -6.7% +15.9% 2023 1Q24 2Q24 +5.5% +4.9% +3.8% Spending per ticket (Baht) No. of customer/store/day (customers) 12
Slide 8: CVS: Offline to Online (O2O)
CVS: Offline to Online (O2O) Represent a strong journey with continuously positive response O2O contribution (2020-1H24) 11% 11% 10% 8% 3% 2020 2021 2022 2023 1H24
Slide 9: 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 14
Slide 10: SG&A Expenses
SG&A Expenses Leverage fixed cost to enhance cost control efficiency Consolidated SG&A Expense (Unit: Million Baht) +6.5% YoY Others Utilities Advertising Store MGT Fee Rental and D&A Personnel 2Q24 : 48,836 MB Company Only SG&A Expense (Unit: Million Baht) +9.1% YoY Others Utilities Advertising Sto
Slide 11: Profitability Ratios – Consolidated
Profitability Ratios – Consolidated Demonstrate a journey marked by resilient recovery Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +9.1% YoY (Unit: Million Baht) +21.4% YoY EBITDA Net Profit (Unit: Million Baht) +11.3% YoY (Unit: Million Baht) +40.6% YoY 17
Slide 12: Profitability Ratios – Company Only
Profitability Ratios – Company Only Demonstrate a journey marked by resilient recovery Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +11.9% YoY (Unit: Million Baht) +7.5% YoY EBITDA Net Profit (Unit: Million Baht) +6.2% YoY (Unit: Million Baht) +10.1% YoY 18
Slide 13: Leverage Ratios
Leverage Ratios Preserved solid financial ground Cash& Cash equivalent Interest • As of 30 June 2024, CPALL reported bearing debt consolidated interest bearing debt at amount of Baht 328,355 million. Other Other • Net debt to adjusted equity was at 0.85x assets liabilities vs bond covenant at 2.0x.
Slide 14: Working Capital
Working Capital Negative cash cycle days Consolidated Cash Cycle Days CVS Cash Cycle Days (Unit: Days) (Unit: Days) 20
Slide 15: 7-Eleven expansion and CAPEX plan
7-Eleven expansion and CAPEX plan Continuity of store expansion along with efficient budget 2024 CVS Projected CAPEX 7-Eleven Stores Expansion Stores MB Stores expansion 3,800 – 4,000 • Thailand 700 Stores renovation 2,900 – 3,500 • Cambodia >10 Investment in new projects, subsidiaries & DC 4,
Slide 16: Q&A Thank you
Q&A Thank you 24
Slide 17: Consolidated Financial Statement: Balance Sheet
Consolidated Financial Statement Balance Sheet 2022 2023 1Q23 2Q23 1Q24 2Q24 Unit : Million Baht Cash and current investments 71,891 67,317 43,698 40,885 56,515 54,115 Inventory 58,183 57,501 57,697 54,242 59,269 56,402 Fixed assets 257,540 258,326 257,180 256,913 261,390 261,422 Right of use assets
Slide 18: Consolidated Financial Statement: Income Statement
Consolidated Financial Statement Income Statement 2022 2023 1Q23 2Q23 1Q24 2Q24 Unit : Million Baht Revenue from Sales & Services 829,099 895,281 215,895 225,603 234,315 240,948 Other Income 23,506 25,906 6,477 6,399 6,991 7,079 Total revenue 852,605 921,187 222,372 232,002 241,307 248,026 Cost of S
Slide 19: Consolidated Financial Statement: Financial Ratios
Consolidated Financial Statement Financial Ratios 2022 2023 1Q23 2Q23 1Q24 2Q24 Gross margin (sales & service) 21.5% 21.9% 21.7% 22.0% 22.3% 22.4% Operating margin 4.3% 4.7% 4.7% 4.4% 5.3% 5.0% EBITDA margin 8.6% 8.6% 8.7% 8.3% 9.1% 8.7% Net margin 1.6% 2.0% 1.9% 1.9% 2.6% 2.5% ROAA 1.4% 2.0% 1.5% 1
Slide 20: Company Only Financial Statement: Balance Sheet
Company Only Financial Statement Balance Sheet 2022 2023 1Q23 2Q23 1Q24 2Q24 Unit : Million Baht Cash and current investments 20,997 25,956 19,048 18,285 25,213 22,916 Inventory 18,007 19,339 18,016 17,561 19,634 19,278 Fixed assets 43,454 46,569 44,445 45,012 46,608 46,393 Right of use assets 43,56
Slide 21: Company Only Financial Statement: Income Statement
Company Only Financial Statement Income Statement 2022 2023 1Q23 2Q23 1Q24 2Q24 Unit : Million Baht Revenue from Sales & Services 354,973 399,558 94,634 102,481 105,861 112,044 Other Income 27,517 29,938 6,412 9,637 8,781 9,562 Total revenue 382,490 429,496 101,046 112,119 114,642 121,606 Cost of Sa
Slide 22: Company Only Financial Statement: Financial Ratios
Company Only Financial Statement Financial Ratios 2022 2023 1Q23 2Q23 1Q24 2Q24 Gross margin (sales & service) (%) 27.4% 28.2% 27.9% 28.4% 28.7% 29.0% Operating margin (%) 5.6% 6.2% 5.4% 8.1% 8.1% 8.0% EBITDA margin (%) 9.9% 10.1% 9.4% 11.8% 11.8% 11.5% Net margin (%) 3.0% 3.6% 2.7% 5.5% 5.4% 5.5% R
Slide 23: 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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