Sappe Public Company Ltd · SET:SAPPE
Sappe Public — Q1 2025 Earnings Presentation
48 slides from Sappe Public's earnings presentation, September 2025
Slide 1: Performance Highlights Q1 2025
Performance Highlights Q1 2025 SAPPE PUBLIC COMPANY LIMITED 1
Slide 2: Agenda
AGENDA 1. SAPPE Overview 2. Financial Performance Q1’2025 3. Business Updates 4. SAPPE’s Sustainability 3
Slide 3: SAPPE Overview
SAPPE Overview 4
Slide 4: Who We Are
VISION Becoming the preferred and trusted global brand driven WHO WE ARE by a team of passionate and synergistic top talents passionately working happily together in a dynamically innovative workplace. มุง่ สูแ่ บรนด์ระดับโลกที่นา่ เชื่อถือ ด้วยองค์กรที่สร้างสรรค์อย่างไม่หยุดนิ่ง ร่วมกันกับทีมที่มีค
Slide 5: Our Journey to Global Brand
Our Journey to Global Brand Internationalization Phase 2024 Succeed in UK 2022 - 2023 Announced K-Pop Sappe x Power Root boy band 2021 Berhad, Malaysia “SEVENTEEN” as its Growth Phase “First Global Brand Sappe x Succeed in South Ambassador” for 2019 Workpoint Korea and France with Korea & France Mog
Slide 6: Sappe Structure
Sappe Structure Sappe PCL SAPPE HOLDING (100%) ALL COCO (51%) Domestic International OEM Danone Sappe (25%) Own Brands Own Brands M-Intelligence (16.2%) Sappe Philippines Corporation (100%) Distributor Distributor Dormant Company • Sappe HK • Sappe HK Trading Collaborate • Sappe China 7
Slide 7: Product Categories
Product Categories Large Portfolio with Market Leading Brands and Products Juice Drinks Functional Drinks Functional Powders Healthier Snacks Supplements & Others Unique and refreshing juices Range of products targeting Instant powders for dietary Snacks with healthy Other innovative products – beau
Slide 8: Innovation is the Core of Our DNA
Innovation is the Core of Our DNA 3 Pillars of Innovation Strategies In-house Innovation Business Partnership InnoStudio Internal division to create innovative Relationship with leading enterprises Innovative ideas x Local goodness products Local Creativity goodness New Product Y2024 : 26 SKUS Q1’20
Slide 9: Financial Performance Q1'2025
Financial Performance Q1’2025 10
Slide 10: Q1'25 Key Financial Highlights
Q1’25 Key Financial Highlights Q1’25 Total Revenue Q1’25 Gross Margin 1,179 MB 46.4% -38.1% YoY 0% pts YoY Q1’25 SG&A (%) Q1’25 Net Profit 25% 25.3% 23.3% 25.3% 224 MB +0.3 pts YoY -36.4% YoY 11
Slide 11: Revenue Breakdown & Net Profit
Revenue Breakdown & Net Profit Revenue Net Profit Q1:2025 • The Revenue was at 1,142 mb or -37.8% YoY [IB:DM = 65% : 35%] from IB sales -51.0% and the DM sales +26.6% YoY. • Net Profit was at 224 mb, decreased by -36.4% YoY. 12
Slide 12: Cost of Goods Sold by Quarter
Cost of Goods Sold by Quarter Utilization Rate (Beverage) Q1:2025 %COGS was at 54%, which remained the same as last year. However, if we normalize %COGS, lower than last year by -1 pt., due to raw material and packaging prices. 13
Slide 13: SG&A
SG&A Selling Expenses Admin Expenses 2025 • %Selling expenses decreased by -2.5 pts. YoY. • Admin Expenses decreased from 117 mb to 105 mb (-10.3% YoY), due to full operations of the new, automated warehouse. 14
Slide 14: Q1'2025 Million Baht by Countries
Q1’2025 100 721 Million Baht COUNTRIES TERRITORIES 15
Slide 15: Q1'2025 (YoY) Top Line Growth by Regions
Q1’2025 (YoY) TOP LINE GROWTH BY REGIONS Europe Q1’2025 -69.3% ME & 721 Million Baht Others -63.8% America Asia -36.7% -37.6% Thailand +26.5% 16
Slide 16: Business Updates
Business Updates 17
Slide 17: International Markets
INTERNATIONAL MARKETS 18
Slide 18: International Business Journey
International Business Journey 01 02 03 Trading Model Rising Star model Consumer Market (Gems) • Rebate scheme • Expand coverage • Consumer engagement • Minimize investment • In-depth channel • Brand Love • Trade scheme vs Availability, • Brand of Choice Visibility, Affordability 19
Slide 19: Champion Product
Champion Product • Fruit flavored drink with Nata de coco • Full of extra-large Nata de coco cubes • Variety of choices Naturally Yours with Aloe Vera Cube 20
Slide 20: Overseas Availability
| o ovERgEAS : AVAILABILITY
Slide 21: Zone: Asia
Zone: Asia Sales 428 Million Baht Growth -37.6% YoY ❑ Asia contributed 59% in Q1’2025 ❑ The Asian market experienced some challenges this Hong Kong Taiwan quarter, particularly in South Korea and Indonesia. In Korea, a slower economy weighed on consumer spending and sell-out performance, while in Ph
Slide 22: Channel Contribution
Key Countries KOREA Market PHILIPPINES Market INDONESIA Market Channel Contribution 23
Slide 23: Mogu Mogu Marketing Activities
Mogu Mogu Marketing Activities 24
Slide 24: Mogu Mogu Marketing Activities
Mogu Mogu Marketing Activities 25
Slide 25: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 26
Slide 26: Zone: Europe
Zone: Europe Sales 112 Million Baht Growth -69.3% YoY ❑ Europe contributed 15% in Q1’2025 ❑ The European region experienced a temporary slowdown, primarily due to elevated stock levels in the UK and France. However, the Company has executed stock clearance plans effectively—UK inventories have now n
Slide 27: Mogu Mogu France Market
France Market Mogu Mogu Superstar Fruit Juice Drink Channel Contribution 28
Slide 28: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 29
Slide 29: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities
Slide 30: Zone: Middle East & Others
Zone: Middle East & Others Sales 124 Million Baht Growth -63.8% YoY ❑ Middle East & Others contributed 17% in Q1’2025. ❑ Despite high distributor stock levels in Q1’25— LIBYA built up in anticipation of the Ramadan peak season—the region is still expected to deliver full- year growth in 2025. The st
Slide 31: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 32
Slide 32: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 33
Slide 33: Zone: America
Zone: America Alaska Sales 57 Million Baht Growth -36.7% YoY ❑ America contributed 8% in Q1’2025 ❑ Despite a sales decline in the American market this quarter, the Company remains confident in achieving growth for full-year 2025. We continue to expand distribution by entering new channel types and g
Slide 34: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 35
Slide 35: Domestic Market
Domestic Market 36
Slide 36: Key Activities Highlight
KEY ACTIVITIES HIGHLIGHT สวยจบปิง๊ ลิ้งค์ดรุง๊ เซ็ปเป้ Themetic 30s Bumper 6s X 4 Macro KOLs
Slide 37: Key Activities Highlight
KEY ACTIVITIES HIGHLIGHT ONLINE OFFLINE Branded Content
Slide 38: Marketing Activities
MARKETING ACTIVITIES ละครคุณธรรม x 3 EP via TikTok Mega KOL Consumer Page KOL Review
Slide 39: Outlook: All Coco Q1'25
OUTLOOK : ALL COCO Q1’25 Revenue Net Profit 71% 76% 85% 88 133 142 +61% YOY +89% YOY + 7% QOQ -34% QoQ Total Revenue from selling goods in Q1’2025 was at 141.80 mb or +61% YoY from Industrial + 93%
Slide 40: 2025 Outlook: Target Growth YoY
2025 Outlook INTERNATIONAL BUSINESS DOMESTIC MARKET Brand Globalization: Korea First Grow base brands TARGET Strategic channel Expansion NPD focused GROWTH Diversify portfolio +5% Collaboration YOY Future Growth Future Growth 41
Slide 41: Production Facility
Production Facility State-of-the-art Production Facility to Support Growth Klong 13 factory Projects under construction Q1’25 : Utilization 2 Manufacturing buildings rate: 50%* 2 new production lines 4+1(BOI 275 mb) 7 Beverage lines Powder filling lines • 2026 > (+25-30% YoY) Project Value 1,630 mb.
Slide 42: SAPPE's Sustainability
SAPPE’S Sustainability 43
Slide 43: Sappe Sustainable Policy
Sappe Sustainable Policy Economic Social Environment Build Sustainable Economic Promote Quality of Life of Our Promote Sustainable Environment Growth Key Stakeholders to Grow Together with Innovation and Technology
Slide 44: Social Performance
SOCIAL PERFORMANCE มีนาคม 2025 SAPPE EYES CARE
Slide 45: Social Performance
SOCIAL PERFORMANCE มีนาคม 2025 เมษายน 2025 มู ล นิ ธริ ว่ มกตัญญ : สนั บ สนุ นภารกิจค น ้ หาผู ป ้ ระสบเหตุอ าคารถล่ม จากแผ่ น ดินไหว องค ์กรทาดี : สนั บ สนุ น ภารกิจกูซ ้ ากอาคาร สตง.
Slide 46: Social Performance
SOCIAL PERFORMANCE มีนาคม 2025 SAPPE จับ มือ EARTH TRADING ช่ว ยเหลือ ผู ป ้ ระสบภัย แผ่ นดินไหวในเมีย นมา
Slide 47: Q&A
Q&A 49
Slide 48: www.sappe.com
WWW.SAPPE.COM 50