Gfpt Public Co. Ltd. · SET:GFPT
Gfpt Public — Q1 2016 Earnings Presentation
30 slides from Gfpt Public's earnings presentation, May 17, 2016
Slide 1: Analyst Meeting No.2/2016
®GFPT ANALYST MEETING NO.2/2016 17 May 2016
Slide 2: Disclaimer
Disclaimer *GFPT This presentation may include forward-looking statements representing expectations about future events or anticipated result based on factors such as economic scenario, market conditions and expected future events, over many of which the Company has no control. This material include
Slide 3: GFPT Public Company Limited overview
GFPT Public Company Limited (TB:GFPT), founded in 1981 with headquarters in Bangkok, Thailand, is one of The Thailand’s chicken processors and marketers. Company is specialized in fully vertical integrated chicken production starting from feed mill, grandparent breeder farm, parent breeder farm, bro
Slide 4: GFPT's Vision and Missions
@GFPT GFPT’S VISION “GFPT strives to be a leading chicken meat exporter with its fully vertical integrated chicken production” MISSIONS Quality Enhance product quality to the international standards Food Safety Confidence through the traceability system Innovation New product development using moder
Slide 5: Today's Discussion
TODAY’S DISCUSSION e GFPT Profile e Financial Highlights e Market Outlook e Key Statistics © Q&A
Slide 6: GFPT Profile
GFPT Profile *GFPT Symbol GFPT Industry / Sector Agro & Food Industry / Agribusiness 2015 CG Score Very Good [80 - 89 CG Report Score] Anti - Corruption 3A (Established a policy for operation) Closed Price THB 12.10 per share (31/03/2016) Average Price THB 11.49 per share (1Q 2016) 52-week High/Low
Slide 7: Timeline
Timeline *GFPT Name change of Stock split from THB ‘lo Subsidiary (KT) Listed in SET from Krungthai Feedmill THB Tper share toKrungthai Food 99.99% in FKT (Breeder farm) 99.99% in GFF 49% in McKey 99.99% of GP New feed mill (KT2) in Additional Capital Injection 99.99% inMKS (Broilerfarm) (Sausage pl
Slide 8: Group Structure
Group Structure *GFPT 5 Subsidiaries \ KT | 98.06% Krungthai Food PCL. Feed Mill and Breeder Farm FKT | 99.99% Krungthai Farm Co., Ltd. Breeder Farm (PS Farm) —DS GP | 99.99% GP Breeding Co., Ltd. Primary Breeder Farm (GP Farm) GFF | 99.99% GF Foods Co., Ltd. Processed Food MKS | 99.99% M.K.S. FarmC
Slide 9: Fully Vertical Integrated Chicken Production
Fully Vertical Integrated Chicken Production *GFPT Import Grand Parent Chicks a @e)— ~ @) Primary Breeder Farm/ Benefits of Vertical Integration: Hatchery 2664 wks laying (PS Chicks) ¥ Food safety Swks helching v Traceability from feed to food ¥ Food regulatory compliance G@-W-@-—€6@) Breeder Farm /
Slide 10: Product Line
Product Line *GFPT Fish Feed Animal Feed [Pig, Layer Hen, Duck, Cow, etc.] FARM m=) 2) 0 ~— €f « Day-old-Chick Live Broiler “4 tor OSS Processed Food [Sausage, Smoke Sausage, Chicken Meatballs]
Slide 11: -8% 17,829 16,692 16,466 15,370 14,214 12,472 10,99611,507 ,122 7,221 6,621 5,377 2004 2005
-8% 17,829 16,692 16,466 15,370 14,214 12,472 10,99611,507 8,122 7,221 6,621 5,377 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Slide 12: Market Position 2015
*GFPT Market Position: Y2015 6th in Thai Chicken Production Export by Product Type Export Destination
Slide 13: Financial Result
1902016 FINANCIAL RESULT
Slide 14: 1Q2016 Financial Result
1902016 Financial Result *GFPT 1Q 2016 Revenue = THB 3.90billion Key Highlights Revenue * Revenue from chicken meat was THB 1,635 million, a me 145 ees | increase of THB 145 million or 9.73% from 12015 (due to . 14 increasing in chicken export volume of 500 tons or 10.20% BHO gga ™ 3,901 (102016: 5,
Slide 15: 1Q2016 Income Statement
102.016 Income Statement *GFPT INCOME STATEMENT (Unit in THB million) 1Q 2015 1Q 2016 Change % Change Sales 3,856 3,901 45 1.17% cototseee gg) a vebeseteetteeteeesees so boivteeeeeeees Son GROSS PROFIT 463 448 (15) (3.17) Other Income 55 64 9 15.86% colina Expenses bbe be ebb bdeeeeeeeeeeeetutevetee
Slide 16: 1Q2016 Balance Sheet
192.016 Balance Sheet ®GFPT BALANCE SHEET (Unit in THB million) Change % Change Cash and Cash Equivalents Other Current Assets 16 17 1 4.37% TOTAL CURRENT ASSETS 4,809 4,542 (267) (5.55%) Investment in Associated Companies 2,126 2,233 107 5.00% bese GiondnarontChickone gg bode tteeeeees ae) S804) be
Slide 17: 1Q2016 Balance Sheet
1902016 Balance Sheet *GFPT BALANCE SHEET (Unit in THB million) Y2015 Mar 2016 Change % Change Short-Term Loans from Financial Institutions 1,787 1,707 (80) (4.49%) Trade and Other Payables 814 843 29 3.58% ~~ Gutrent Portion of Advance Received forRenfal ; Loveceevevereeeeenes ; Le vcveveeeveveneee
Slide 18: Gross Profit and EBITDA
3,000 18% 2,000 12% 1,800 2,500 15% 1,600 10% 2,000 12% 1,400 8% 1,200 1,500 9% 1,000 6% 800 1,000 6% 600 4% 500 3% 400 2% 200 - 0% - 0% 2010 2011 2012 2013 2014 2015 1Q15 1Q16 2010 2011 2012 2013 2014 2015 1Q15 1Q16 Gross Profit (THB million) Gross Profit Margin (%) EBIT (THB million) EBIT Margin (
Slide 19: Net Profit and Dividend
2,000 1.50 16,000 15% 1,800 14,000 1,600 1.20 12% 12,000 1,400 1,200 0.90 10,000 9% 1,000 8,000 800 0.60 6,000 6% 600 4,000 400 0.30 3% 200 2,000 - 0.00 - 0% 2010 2011 2012 2013 2014 2015 1Q15 1Q16 2010 2011 2012 2013 2014 2015 2016 (F) Net Profit (THB million) EPS (THB/Share) Total Assets (THB mill
Slide 20: Total Equity and Book Value
16,000 12,000 9.00 14,000 10,000 7.50 8,000 6.00 12,000 6,000 4.50 4,000 3.00 10,000 2,000 1.50 - 0.00 8,000 2010 2011 2012 2013 2014 2015 1Q16 Total Equity (THB million) Book Value (Bt/Share) 6,000 4,000 • 2,000 • - 2014 13,737 2015 14,976 1Q16 14,927 mm Bt mm Bt mm Bt Fixed Assets Current Asset Eq
Slide 21: Debt and Leverage
7,000 9.00 Short-term Loan 6,000 7.50 5,000 6.00 4,000 Current Portion of Lt-Loan 4.50 3,000 3.00 2,000 1,000 1.50 Long Term Loan - 0.00 2010 2011 2012 2013 2014 2015 2016 (F) Net Debt (THB million) Net Debt/EBITDA (x) 1.40 1.20 • 1.20 1.00 1.00 0.80 0.80 0.60 • 0.60 0.40 0.40 0.20 0.20 - 0.00 • 201
Slide 22: Breeder Stocks, Fixed Assets, Associates & JV
• • 2008 2009 2010 2011 2012 2013 2014 2015 Breeder Stocks Fixed Assets Associates & JV
Slide 23: Market Outlook
Market Outlook
Slide 24: Chicken Production and Export
• • Production Export USA China Brazil EU-27 Argentina Turkey Thailand
Slide 25: Thai Chicken Exports 2016F
100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 0 1973 1977 1982 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 Raw 2006 2007 2008 Cooked 2009 2010 2011 Total 2012 2013 2014 2015 2016F
Slide 26: Global Chicken Producers and Importers
USA Japan Brazil Saudi Arabia China Mexico EU EU India Iraq Russia S.Africa Mexico Hong Kong Argentina China Turkey Angola Thailand Cuba Brazil USA USA China EU EU Thailand Brazil China India Turkey Mexico Argentina Russia Ukraine Japan Canada Argentina Belarus S.Africa
Slide 27: Soybean and Corn Prices
25.0 50.0 45.0 20.0 40.0 35.0 Soybean 15.0 30.0 25.0 10.0 20.0 Corn 15.0 5.0 10.0 5.0 - - 2010 2011 2012 2013 2014 2015 1Q15 1Q16 2010 2011 2012 2013 2014 2015 1Q15 1Q16 20.0 4,800 18.0 4,600 16.0 14.0 4,400 12.0 10.0 4,200 8.0 4,000 6.0 4.0 3,800 2.0 - 3,600 2010 2011 2012 2013 2014 2015 1Q15 1Q16
Slide 28: Market Outlook
Market Outlook
Slide 29: 2010 2011 2012 2013 2014 2015 1Q15 1Q16 2010 011 2012 2013 2014 2015
+5% +10% +15% 2010 2011 2012 2013 2014 2015 1Q15 1Q16 2010 2011 2012 2013 2014 2015 1Q15 1Q16 2010 2011 2012 2013 2014 2015 1Q15 1Q16 -2% +2% -32% 2010 2011 2012 2013 2014 2015 1Q15 1Q16 2010 2011 2012 2013 2014 2015 1Q15 1Q16 2010 2011 2012 2013 2014 2015 1Q15 1Q16
Slide 30: Thank You
—— ®GFPT — THANK YOU GFPT Public Company Limited Jutamas Ingpochai, Ph.D. Veera Titayangkaruvong veera-tita@gfpt.co.th | www.gfpt.co.th | jutamas@gfpt.co.th | +66 2473 8022 +66 2 473 8000 ext. 1802 30