Cp All Public Company Limited · SET:CPALL
Cp All Public — FY2024 Earnings Presentation
25 slides from Cp All Public's earnings presentation, Feb 28, 2025
Slide 1: FY2024 CPALL Business and Performance Briefing
FY2024 CPALL Business and Performance Briefing ร้านยา เอ็กซ์ต้า พลัส February 28, 2025 1
Slide 2: Financial Highlights 4Q24
Financial Highlights 4Q24 Another remarkable milestone achieved Consolidated Performance Total Revenue Net Profit GP Margin EBIT Margin 257,732 7,179 22.9 5.7 Millions Baht Millions Baht Percent Percent +7.1% +30.6% +10.1% +18.7% amount growth amount growth Company Only Performance Total Revenue Net
Slide 3: Financial Highlights 2024
Financial Highlights 2024 Another remarkable milestone achieved Consolidated Performance Total Revenue Net Profit GP Margin EBIT Margin 987,794 25,346 22.6 5.2 Millions Baht Millions Baht Percent Percent +7.2% +37.1% +10.3% +19.5% 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 FY2024 Revenue contribution before elimination Sales Services Wholesale 273,491 5,040 Millions Baht Millions Baht +5.3% -5.3% Sales Services 215,370 14,844 Retail Millions Baht Millions Baht +4.3% -0.5% FY2024 EBT contri
Slide 5: Store Types Breakdown
Store Types Breakdown Ongoing store expansion BKK & Suburban / Provincial Corporate / Store Business Partner & Sub-area (Unit: Stores) (Unit: Stores) 58% 49% 42% 51% Stand-alone / In PTT gas station Store Expansion (Unit: Stores) 14% 2020 2021 2022 2023 +720 +702 +704 +707 86% 2024 +700 5
Slide 6: International Expansion in 2024
International Expansion in 2024 Continuity of heartwarming welcome 10 Stores (+7) 15,245 Stores (+700) 112 Stores (+30) 6
Slide 7: Same Store Sales Growth
Same Store Sales Growth Continued delivering positive SSSG, maintaining strong sales SSSG (%) Average daily sales / store (Baht) 2020 2021 2022 2023 -14.5% -6.7% +15.9% +5.5% 2024 +3.8% Spending per ticket (Baht) No. of customer/store/day (customers) 7
Slide 8: CVS: Offline to Online (O2O)
CVS: Offline to Online (O2O) Represent a strong journey with continuously positive response O2O contribution (2020-2024) 11% 11% 10% 8% 3% 2020 2021 2022 2023 2024
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 9
Slide 10: SG&A Expenses
SG&A Expenses Leverage fixed cost to enhance cost control efficiency Consolidated SG&A Expense (Unit: Million Baht) +8.2% YoY Others Utilities Advertising Store MGT Fee Rental and D&A Personnel FY2024 : 194,588 MB Company Only SG&A Expense (Unit: Million Baht) +9.6% YoY Others Utilities Advertising
Slide 11: Profitability Ratios – Consolidated
Profitability Ratios – Consolidated Demonstrate a journey marked by resilient recovery Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +10.3% YoY (Unit: Million Baht) +19.5% YoY EBITDA Net Profit (Unit: Million Baht) +11.3% YoY (Unit: Million Baht) +37.1% YoY 11
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) +13.0% YoY (Unit: Million Baht) +25.6% YoY EBITDA Net Profit (Unit: Million Baht) +17.2% YoY (Unit: Million Baht) +40.0% YoY 12
Slide 13: Leverage Ratios
Leverage Ratios Preserved solid financial ground Cash& Cash equivalent Interest • As of 31 December 2024, CPALL reported bearing debt consolidated interest bearing debt at amount of Baht 316,532 million. Other Other • Net debt to adjusted equity was at 0.78x assets liabilities vs bond covenant at 2.
Slide 14: Working Capital
Working Capital Negative cash cycle days Consolidated Cash Cycle Days CVS Cash Cycle Days (Unit: Days) (Unit: Days) 14
Slide 15: 7-Eleven expansion and CAPEX plan
7-Eleven expansion and CAPEX plan Continuity of store expansion along with efficient budget 2025 CVS Projected CAPEX 7-Eleven Stores Expansion Stores MB Stores expansion 3,800 – 4,600 • 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 16
Slide 17: Consolidated Financial Statement: Balance Sheet
Consolidated Financial Statement Balance Sheet 2020 2021 2022 2023 2024 Unit : Million Baht Cash & Cash equivalent 40,589 97,134 71,424 67,234 54,613 Inventory 31,749 50,535 58,183 57,501 61,269 Fixed assets 120,531 257,022 257,540 258,326 273,272 Right of use assets 52,899 77,266 82,246 86,543 94,2
Slide 18: Consolidated Financial Statement: Income Statement
Consolidated Financial Statement Income Statement 2020 2021 2022 2023 2024 Unit : Million Baht Revenue from Sales & Services 525,884 565,060 829,099 895,281 958,998 Other Income 20,706 22,469 23,506 25,906 28,796 Total revenue 546,590 587,530 852,605 921,187 987,794 Cost of Sales & Services 410,880
Slide 19: Consolidated Financial Statement: Financial Ratios
Consolidated Financial Statement Financial Ratios 2020 2021 2022 2023 2024 Gross margin (sales & service) 21.9% 21.3% 21.5% 21.9% 22.6% Operating margin 5.1% 4.3% 4.3% 4.7% 5.2% EBITDA margin 8.9% 8.5% 8.6% 8.6% 9.0% Net margin 2.9% 2.2% 1.6% 2.0% 2.6% ROAA 3.6% 1.8% 1.4% 2.0% 2.7% ROAE (exc. MI) 16
Slide 20: Company Only Financial Statement: Balance Sheet
Company Only Financial Statement Balance Sheet 2020 2021 2022 2023 2024 Unit : Million Baht Cash & Cash equivalent 21,578 19,457 20,995 25,955 24,149 Inventory 15,107 16,316 18,007 19,339 22,123 Fixed assets 39,069 40,782 43,454 46,569 48,075 Right of use assets 41,011 38,727 43,560 45,333 51,877 Ot
Slide 21: Company Only Financial Statement: Income Statement
Company Only Financial Statement Income Statement 2020 2021 2022 2023 2024 Unit : Million Baht Revenue from Sales & Services 300,705 290,228 354,973 399,558 439,787 Other Income 27,825 30,207 27,517 29,938 33,222 Total revenue 328,530 320,435 382,490 429,496 473,009 Cost of Sales & Services 216,981
Slide 22: Company Only Financial Statement: Financial Ratios
Company Only Financial Statement Financial Ratios 2020 2021 2022 2023 2024 Gross margin (sales & service) (%) 27.8% 27.4% 27.4% 28.2% 29.0% Operating margin (%) 6.8% 6.0% 5.6% 6.2% 7.1% EBITDA margin (%) 11.3% 11.0% 9.9% 10.1% 10.8% Net margin (%) 4.4% 2.8% 3.0% 3.6% 4.6% ROAA (%) 4.1% 2.2% 2.7% 3.5
Slide 23: ESG: Progress Towards 2030 Sustainability Goals
ESG: Progress Towards 2030 Sustainability Goals for Phase 2 in 2021-2030 Material topics in 2023 Governance and Economic Environmental Dimension Social Dimension Dimension 7 Go Green 7 Go Together 7 Go Right 2023 2023 2023 Topic Goal Performance Topic Goal Performance Topic Goal Performance Social I
Slide 24: Major Shareholders (as of Dec 31, 2024)
Major Shareholders (as of Dec 31, 2024) - CPG 35.9% - Thai NVDR 12.0% - Social Security Office 3.1% - State Street Europe Limited 2.8% - South East Asia UK 2.7% First trade date Oct 14, 2003 Dividend Payment 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024* Dividend payment Bt 0.80 Bt 0.90 Bt
Slide 25: 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