Gfpt Public Co. Ltd. · SET:GFPT
Gfpt Public — Q3 2016 Earnings Presentation
31 slides from Gfpt Public's earnings presentation, Nov 8, 2016
Slide 1: Analyst Meeting No.4/2016
®GFPT ANALYST MEETING NO.4/2016 8 November 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 2016 CG Score AAAAA Excellent Anti - Corruption Closed Price Average Price 52-week High/Low % Foreign Shareholder Dividend Policy [90 - 100 CGReport Score] 3A (Established a policy for operation) THB 14.70 per share
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 | 98.10% 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 G@-W-@-—€6@) Primary Breeder Farm/ Hatchery Benefits of Vertical Integration: 0 - 25 wks rearing 26 — 64 wks laying (PS Chicks) v Food safety 3wks hatching v Traceability from feed to food Y Food regulatory compliance @-W-
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 3Q2016
302016 FINANCIAL RESULT
Slide 14: 3Q 2016 Financial Result
302.016 Financial Result *GFPT 3Q 2016 Revenue = THB 4.41billion Key Highlights eral * Revenue from chicken meat was THB 1,844.51 million, an increase of THB 148.43 million or 8.75% from 3Q2015 (due 4,500 25 to increasing in chicken export volume of 2,700 fons or 81 | A 4411 50.94% (3Q2016: 8,000 to
Slide 15: 3Q2016 Income Statement
302016 Income Statement ®GFPT INCOME STATEMENT (Unit in THB million) 3Q 2015 3Q 2016 Change % Change Revenue from Sales 4,237.56 4,410.51 172.94 4.08% cototSeles egg a voces (aee209) 99.36) voeeeeeeeeees om GROSS PROFIT 496.11 748.42 252.31 50.86% Other Income 61.66 85.84 24.18 39.20% Income Tax Exp
Slide 16: 9M2016 Income Statement
9M2016 Income Statement *GFPT INCOME STATEMENT (Unit in THB million) 9M 2015 9M 2016 Change % Change Revenue from Sales 12,126.34 12,213.56 87.22 0.72% . a . . vob eeebeeecteetveeseeteeteviteeesseseeeeesesees “o | vor ‘) ae oar 98) voceeteseees ea F voeeeeeeeeees os ; a -_ GROSS PROFIT 1,384.18 1,73
Slide 17: 3Q2016 Balance Sheet
302.016 Balance Sheet ®GFPT BALANCE SHEET (Unit in THB million) Y2015 Sep 2016 Change % Change Cash and Cash Equivalents 1,026.63 901.97 (124.66) voce beset srevssssresisisesissveeevirsusvsesiesevessessesteevevsestesceveeeeees syaso wie atee ame bese othe con ; , r _ coco bbeeveeeeeceveeseeceesseeec
Slide 18: 3Q2016 Balance Sheet (liabilities)
302016 Balance Sheet *GFPT BALANCE SHEET (Unit in THB million) Y2015 Sep 2016 Change % Change Short-Term Loans from Financial Institutions 1,787.09 1,556.63 (230.46) (12.90%) a vsdeandother rayable . bobo bsubtveesuetsetvessettuiteseteeeseeeseees ; ae ; boven was 76 re e oon nee sede lneomefromassod
Slide 19: Gross Profit, EBITDA and EBIT trends
3,000 18% 2,000 16% 1,800 14% 2,500 15% 1,600 12% 2,000 12% 1,400 1,200 10% 1,500 9% 1,000 8% 800 6% 1,000 6% 600 4% 500 3% 400 200 2% - 0% - 0% 2010 2011 2012 2013 2014 2015 3Q15 3Q16 2010 2011 2012 2013 2014 2015 3Q15 3Q16 Gross Profit (THB million) Gross Profit Margin (%) EBIT (THB million) EBIT
Slide 20: Net Profit, EPS and Dividend
2,000 1.50 18,000 15% 1,800 16,000 1,600 1.20 14,000 12% 1,400 12,000 1,200 0.90 9% 10,000 1,000 800 0.60 8,000 6% 600 6,000 400 0.30 4,000 3% 200 2,000 - 0.00 - 0% 2010 2011 2012 2013 2014 2015 3Q15 3Q16 2010 2011 2012 2013 2014 2015 2016 (F) Net Profit (THB million) EPS (THB/Share) Total Assets (T
Slide 21: Total Equity and Book Value
18,000 12,000 9.00 16,000 10,000 7.50 14,000 8,000 6.00 6,000 4.50 12,000 4,000 3.00 2,000 1.50 10,000 - 0.00 2011 2012 2013 2014 2015 Mar 16 Jun 16 Sep-16 8,000 Total Equity (THB million) Book Value (Bt/Share) 6,000 • 4,000 2,000 - 2014 13,737 2015 14,976 Sep-16 15,455 • mm Bt mm Bt mm Bt Fixed Ass
Slide 22: Debt and Net Debt ratios
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 23: Breeder Stocks, Fixed Assets, Associates & JV
• • 2008 2009 2010 2011 2012 2013 2014 2015 Breeder Stocks Fixed Assets Associates & JV
Slide 24: Market Outlook
Market Outlook
Slide 25: Chicken Production and Export by Country
• • Production Export USA China Brazil EU-27 Argentina Turkey Thailand
Slide 26: Thailand Chicken Export 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 27: Major Producers, Exporters and Importers
USA Japan China Saudi Arabia Brazil Mexico EU EU India Iraq Russia S.Africa Mexico Hong Kong Argentina UAE Turkey China Thailand Philippines Brazil USA USA China EU EU Thailand Brazil China Mexico Turkey India Argentina Russia Ukraine Japan Belarus Argentina Canada S.Africa
Slide 28: 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 3Q15 3Q16 2010 2011 2012 2013 2014 2015 3Q15 3Q16 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 3Q15 3Q16
Slide 29: Key Statistics
Key Statistics
Slide 30: Key Statistics charts
+51% -6% -18% 2010 2011 2012 2013 2014 2015 3Q15 3Q16 2010 2011 2012 2013 2014 2015 3Q15 3Q16 2010 2011 2012 2013 2014 2015 3Q15 3Q16 -4% -2% -19% 2010 2011 2012 2013 2014 2015 3Q15 3Q16 2010 2011 2012 2013 2014 2015 3Q15 3Q16 2010 2011 2012 2013 2014 2015 3Q15 3Q16
Slide 31: 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 31