Thaifoods Group Public Co. Ltd. · SET:TFG
Thaifoods Group Public — Q1 2025 Earnings Presentation
28 slides from Thaifoods Group Public's earnings presentation, May 26, 2025
Slide 1: Company Presentation Q1'2025
TFG Company Presentation Q1’2025 Thaifoods Group Public Company Limited
Slide 2: Agenda
Agenda Executive Summary Company Overview Financial Highlight Management Team Appendix Company Presentation Q1’2025
Slide 3: Executive Summary
Executive Summary Background TFG is the fully integrated poultry and swine o Operation poultry, swine, feed mill and retail shop in Thailand and swine farm in Vietnam. business, we have the own sale channel and o Operation in Thailand for 40 years and in Vietnam for 10 years. IPO SET in 2015. o Mark
Slide 4: Company Profile
Company Profile TFG was founded in 1987, Mr. Winai Teawsomboonkij, our founder, CEO and Chairman of the Executive Committee, began operating his first chicken farm. Today we are one of leader in farm and food industry in Thailand. Industry SET/ Agro & Food Industry/ Food & Beverage 3.31% 1.86% First
Slide 5: Company Overview: Fully Integrated Business
Company Overview Fully Integrated business FEED FARM FOOD FOOD Processing Distribution Swine Slaughterhouse Chicken Sausage Factory Poultry Further Factory Animal Feed Sauce and Drink Factory Company Presentation Q1’2025
Slide 6: Our Factory
Our Factory Retail Shop 430 Stores Feed Mill Factory • Prachinburi (60,000 Tonnes/month) Suphanburi (110,000 Tonnes/month) • Swine farm (90,000 Pigs/month) • 114 contract farmers Poultry farm • 2 grandparent farms more than 248 contract farmers • 21 parent farms 19 breeder chicken farms 7 hatcheries
Slide 7: TFG's Group structure
TFG’s Group Thaifoods Group Public Company Limited Production and selling of chickens, pigs and animal feed Poultry Swine Animal Feed Retail Shops Others 100% 100% 100% 100% 100% Thai Foods Poultry Farm Co., Ltd. Thai Foods Swine Farm Co., Ltd. Thai Foods Feed Mills Co., Ltd. Thai Foods Fresh Market
Slide 8: Financial Highlight
Financial Highlight Unit : Million Baht GP 19.03% 6.77% 13.40% 8.58% 21.19% 65,482 55,871 52,323 14,998 17,729 2022 2023 2024 3M 2024 3M 2025 NP 8.96% (1.44%) 4.76% 1.14% 11.41% 4,722 3,144 2,037 174 2022 2023 2024 3M 2024 3M 2025 (813) Company Presentation Q1’2025
Slide 9: Revenue Segment
Revenue Segment Other, 0% Revenue 3M 2024 COGS %GP from Sale Poultry 4,449 3,912 12% Swine 2,969 3,109 (5%) 3M 2024 Retail shop, 36% Poultry, 30% Feed Mill 2,075 1,995 4% Retail shop 5,438 4,633 15% Other 67 63 6% Feed Mill, Swine, 20% Total 14,998 13,712 9% 14% Other, 0% Revenue 3M 2025 COGS %GP fr
Slide 10: Poultry Business
Poultry Business Modern Trade Modern Trade Station Station 2% 3% 10% Trader 5% 6% Wholesales UAE Korea Trader 2% 7% 0% 15% Export 38% Hongkong/ 3M 2024 Food Service Japan 9% 3M 2025 Export China 27% 33% Wholesales 52% 10% Malaysia 1% Europe Food Service Industry 37% 7% Industry 19% 17% 3M 2024 3M 20
Slide 11: Swine Business
Swine Business 3M 2024 3M 2025 Live Pig 19% Pork Part 26% Pork Part 42% Pork Part 14% Live Pig 74% Live Pig 58% Interco 67% 3M 2024 3M 2025 % Change % Change Price 3M 2024 3M 2025 % Change Distribution Average Price 59.48 70.33 18.24% Tonnes Mil Bt. Tonnes Mil Bt. (Volum) (Value) Average Price (Incl
Slide 12: Swine Business in Vietnam
Swine Business in Vietnam 3M 2024 3M 2025 % Change % Change Distribution Tonnes Mil Bt. Tonnes Mil Bt. (Volum) (Value) Live Pig 19,455 1,452 25,613 2,191 32% 51% Company Nationality YE 2024 CP Thailand 312,000 CJ Vina South Korea 130,000 Thai Viet Thailand 72,500 Green Feed Vietnam 65,000 Japfa Indo
Slide 13: Feed Mills Business
Feed Mills Business 3M 2024 3M 2025 External Sales 30% External Sales 36% Internal Sales 70% Internal Sales 64% Corn 21.14 19.96 20.28 Soybean Meal 17.64 3M 2024 3M 2025 16.68 17.83 % Change % Change Distribution 15.12 15.11 14.57 15.31 15.12 Tonnes Mil Bt. Tonnes Mil Bt. (Volum) (Value) 14.52 13.85
Slide 14: Retail Business
Retail Business Pork 47.2% Chicken 27.4% Dry grocery & Other 17.3% Frozen, Further 4.8% Sausage, Chilled 3.3% No. of Shop Region Y2020 Y2021 Y2022 Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 GBKK 0 35 62 62 62 62 63 63 63 65 65 68 Provincial 2 50 158 177 225 260 287 287 3
Slide 15: Retail Business
Retail Business Avg. Sales per shop day 173,522 172,713 155,795 160,599 138,105 119,499 88,964 Thaifoods Fresh Market Y2021 Y2022 Y2023 Y2024 Q1 2025 Apr-25 May-25 Company Presentation Q1’2025
Slide 16: Retail Business
Retail Business Gross Profit Margin (%) 16.7% 17.2% 16.7% 15.5% 15.2% 14.4% 15.0% 13.6% 2022 2023 2024 3M 2025 GP (Normal) GP (Exclude logistic cost) Gross Margin Mixed EBITDA Margin (%) & Net Profit (%) 25.6% 26.4% 26.6% 2.0% 25.3% 24.1% 2.1% 1.8% 23.6% 21.0% (1.7%) 1.0% 1.0% 1.2% 21.7% 19.3% 21.3%
Slide 17: Financial Position
Financial Position Total Assets Total Liabilities Total Equity 47,146 18,459 33,450 16,499 30,083 29,650 15,587 46,149 26,555 13,696 45,670 45,013 2022 2023 2024 Q1 2025 2022 2023 2024 Q1 2025 2022 2023 2024 Q1 2025 Interest Bearing Debt IBD to Equity ratio (Time) ROE (%) 46.67% 1.91 34.82% 1.55 1.4
Slide 18: Potential Growth & Strategy
Potential Growth & Strategy Retail Shop Game Changer in Retail Market In Thailand • Thailand traditional market (wet market) to be change to more commercial store • More modernize • More hygiene • Big player producers have their own channel The revenue from retail business increase 65,482 • Retail s
Slide 19: Potential Growth & Strategy
Potential Growth & Strategy Maintain Revenue Growth • Revenue growth YoY every year since IPO and trend to growth continuous. Revenue CAGR for 5 years around 16% • In 2025, we plan revenue growth 10 - 15%. The growth will be in 1. Retail shop expansion 2. Boost revenue per store 3. Volume swine sold
Slide 20: Potential Growth & Strategy
Potential Growth & Strategy Liquidity Cash Cycle (Day) • We have inventory management to control the 50.94 48.82 47.12 day on hand and reduce the warehouse expense 41.21 40.79 39.73 and make the inventory day reduce to be 35 days 31.47 34.77 in Q1 2025 from 40 days in Q1 2024. 23.60 27.88 24.33 24.2
Slide 21: Key Follow Up Issues: Bird Flu Situation in Brazil
Key Follow Up Issues: Bird Flu Situation in Brazil Company Presentation Q1’2025
Slide 22: TFG Rewards
TFG Rewards Good Level for Develop and operate standards throughout Good corporate governance the global food and feed supply chain. Private Sector Collective Hazard Analysis Critical Action Coalition Against Corruption Control Point Thailand Sustainability Investment Halal Standard Company Presenta
Slide 23: Management Team
Management Team Mr. Winai Teawsomboonkij Chief Executive Officer He is major shareholder of TFG . He started to the first chicken farm of 20,000 chickens in Lopburi province in 1987. Mr. Phet Nantavisai Chief Operating Officer He joined TFG in 2010, started project great grand parent of swine farm.
Slide 24: Appendix: Financial – Income Statement
Appendix Financial – Income Statement Income Statement (Unit : THB million) 2022 2023 2024 Change % Q1 2024 Q1 2025 Change % Revenue from sales 52,323 100% 55,871 100% 65,482 100% 9,611 17% 14,998 100% 17,729 100% 2,731 18% Cost of sales 42,367 81% 52,086 93% 56,706 87% 4,621 9% 13,712 91% 13,972 79
Slide 25: Appendix: Financial – Balance Sheet
Appendix Financial – Balance Sheet Current assets Balance Sheet (Unit : THB million) 2022 % 2023 % 2024 % Q1 2025 % Change % Cash and cash equivalents 818 2% 836 2% 4,907 11% 4,146 9% (761) (16%) Trade accounts receivable 2,522 6% 2,374 5% 2,084 5% 2,247 5% 163 8% Other current receivable 1,009 2% 1
Slide 26: Appendix: Financial – Balance Sheet
Appendix Balance Sheet (Unit : THB million) Liabilities and equity Current liabilities 2022 % 2023 % 2024 % Q1 2025 % Change % Short-term borrowings from financial institutions 9,379 21% 12,109 26% 9,939 22% 8,004 18% (1,935) (19%) Financial – Balance Sheet Trade accounts payable Other accounts paya
Slide 27: Commodity Price
Commodity Price Poultry (THB/Kg.) Swine (THB/Kg.) Feed Mill (THB/Kg.) 99.60 97.32 21.14 59.08 19.96 20.28 55.69 54.00 84.53 17.64 79.93 17.83 75.54 15.12 51.80 75.09 72.22 15.11 44.87 72.38 72.75 15.31 14.52 14.57 16.68 41.77 69.96 66.58 68.86 72.16 13.85 15.12 40.96 41.51 64.93 74.02 72.52 40.84 39
Slide 28: Thank You
Thank You Email : Investorrelations@tfg.co.th Website : www.tfg.co.th Telephone : +66 (0) 2 513 8989 The Company presentation is prepared by Thaifoods Group Public Company Limited (“the Company”) for our investors, shareholders and/or related persons.
Thaifoods Group Public Company — Q1 2025 Earnings Presentation on 6ix