Cp All Public Company Limited · SET:CPALL
Cp All Public — Q1 2024 Earnings Presentation
22 slides from Cp All Public's earnings presentation, May 2024
Slide 1: 1Q2024 CPALL Financial Performance
1Q2024 CPALL Financial Performance 1
Slide 2: Financial Highlights 1Q24
Financial Highlights 1Q24 Another remarkable milestone achieved Consolidated Performance Total Revenue Net Profit GP Margin EBIT Margin 241,307 6,319 22.3 5.3 Millions Baht Millions Baht Percent Percent +8.5% +53.3% +11.3% +23.5% amount growth amount growth Company Only Performance Total Revenue Net
Slide 3: Business Segment Performance
Business Segment Performance CVS & Others and Grocery Wholesaling and Retailing 1Q24 Revenue contribution before elimination Sales Services Wholesale 67,800 1,304 Millions Baht Millions Baht +5.9% -1.4% Sales Services 53,382 3,671 Retail Millions Baht Millions Baht +6.7% -1.4% 1Q24 EBT contribution
Slide 4: Store Types Breakdown
Store Types Breakdown Ongoing store expansion BKK & Suburban / Provincial Corporate / Store Business Partner & Sub-area (Unit: Stores) (Unit: Stores) 57% 49% 43% 51% Stand-alone / In PTT gas station Store Expansion (Unit: Stores) 14% 2019 2020 2021 2022 2023 +724 +720 +702 +704 +707 86% 1Q24 +185 4
Slide 5: International Expansion in 1Q24
International Expansion in 1Q24 Discover heartwarming welcome 4 Stores 84 Stores 5
Slide 6: Same Store Sales Growth
Same Store Sales Growth A surge in-store visitors, resulted in robust sales SSSG (%) Average daily sales / store (Baht) 2019 2020 2021 2022 +1.7% -14.5% -6.7% +15.9% 2023 1Q24 +5.5% +4.9% Spending per ticket (Baht) No. of customer/store/day (customers) 6
Slide 7: 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 Gross Margin (excl. T&E) Non-foods Total Products Foods 7
Slide 8: SG&A Expenses
SG&A Expenses Leverage fixed cost to enhance cost control efficiency Consolidated SG&A Expense (Unit: Million Baht) +7.8% YoY Others Utilities Advertising Store MGT Fee Rental and D&A Personnel 1Q24 : 46,541 MB Company Only SG&A Expense (Unit: Million Baht) Others +9.1% YoY Utilities Advertising Sto
Slide 9: Profitability Ratios – Consolidated
Profitability Ratios – Consolidated Demonstrate a journey marked by resilient growth Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +11.3% YoY (Unit: Million Baht) +23.5% YoY EBITDA Net Profit (Unit: Million Baht) +13.4% YoY (Unit: Million Baht) +53.3% YoY Not e: (1) In 4Q21, t he Company
Slide 10: Profitability Ratios – Company Only
Profitability Ratios – Company Only Demonstrate a journey marked by resilient growth Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +14.9% YoY (Unit: Million Baht) +70.7% YoY EBITDA Net Profit (Unit: Million Baht) +42.7% YoY (Unit: Million Baht) +124.1% YoY 10 Not e: In 4Q21, t he Company
Slide 11: Leverage Ratios
Leverage Ratios Preserved solid financial ground Cash& Cash equivalent Interest • As of 31 March 2024, CPALL reported bearing debt consolidated interest bearing debt at amount of Baht 323,139 million. Other Other • Net debt to adjusted equity was at 0.83x assets liabilities v s bond cov enant at 2.0
Slide 12: Working Capital
Working Capital Negative cash cycle days Consolidated Cash Cycle Days CVS Cash Cycle Days (Unit: Days) (Unit: Days) 12
Slide 13: 7-Eleven expansion and CAPEX plan
7-Eleven expansion and CAPEX plan Continuity of store expansion along with efficient budget 2024 CVS Projected CAPEX 7-Eleven Stores Expansion Stores MB Stores expansion 3,800 – 4,000 • Thailand 700 Stores renov ation 2,900 – 3,500 • Cambodia 40 Investment in new projects, subsidiaries & DC 4,
Slide 14: Q&A Thank you
Q&A Thank you 14
Slide 15: Major Shareholders and Dividend Payment
Major Shareholders (as of Dec 31, 2023) Price (May 09, 2024) : Bt 58.25 - CPG 35.5% Hi/Low (12-month) : Bt 51.00/ 67.50 per share - Thai NVDR 10.6% Avg. daily turnover : 1,516 MB - South East Asia UK 3.5% - Citibank Nominees Singapore 3.1% No. of shares : 8,983,101,348 (Par Bt1.00) - State Street Eu
Slide 16: Consolidated Financial Statement – Balance Sheet
Consolidated Financial Statement Balance Sheet 2020 2021 2022 2023 1Q23 1Q24 Unit : Million Baht Cash and current investments 40,589 97,134 71,891 67,317 43,698 56,515 Inventory 31,749 50,535 58,183 57,501 57,697 59,269 Fixed assets 120,531 257,022 257,540 258,326 257,180 261,390 Right of use assets
Slide 17: Consolidated Financial Statement – Income Statement
Consolidated Financial Statement Income Statement 2020 2021 2022 2023 1Q23 1Q24 Unit : Million Baht Revenue from Sales & Services 525,884 565,060 829,099 895,281 215,895 234,315 Other Income 20,706 22,469 23,506 25,906 6,477 6,991 Total revenue 546,590 587,530 852,605 921,187 222,372 241,307 Cost of
Slide 18: Consolidated Financial Statement – Financial Ratios
Consolidated Financial Statement Financial Ratios 2020 2021 2022 2023 1Q23 1Q24 Gross margin (sales & service) 21.9% 21.3% 21.5% 21.9% 21.7% 22.3% Operating margin 5.1% 4.3% 4.3% 4.7% 4.7% 5.3% EBITDA margin 8.9% 8.5% 8.6% 8.6% 8.7% 9.1% Net margin 2.9% 2.2% 1.6% 2.0% 1.9% 2.6% ROAA 3.6% 1.8% 1.4% 2
Slide 19: Company Only Financial Statement – Balance Sheet
Company Only Financial Statement Balance Sheet 2020 2021 2022 2023 1Q23 1Q24 Unit : Million Baht Cash and current investments 21,578 19,457 20,997 25,956 19,048 25,213 Inventory 15,107 16,316 18,007 19,339 18,016 19,634 Fixed assets 39,069 40,782 43,454 46,569 44,445 46,608 Right of use assets 41,01
Slide 20: Company Only Financial Statement – Income Statement
Company Only Financial Statement Income Statement 2020 2021 2022 2023 1Q23 1Q24 Unit : Million Baht Revenue from Sales & Services 300,705 290,228 354,973 399,558 94,634 105,861 Other Income 27,825 30,207 27,517 29,938 6,412 8,781 Total revenue 328,530 320,435 382,490 429,496 101,046 114,642 Cost of
Slide 21: Company Only Financial Statement – Financial Ratios
Company Only Financial Statement Financial Ratios 2020 2021 2022 2023 1Q23 1Q24 Gross margin (sales & service) (%) 27.8% 27.4% 27.4% 28.2% 27.9% 28.7% Operating margin (%) 6.8% 6.0% 5.6% 6.2% 5.4% 8.1% EBITDA margin (%) 11.3% 11.0% 9.9% 10.1% 9.4% 11.8% Net margin (%) 4.4% 2.8% 3.0% 3.6% 2.7% 5.4% R
Slide 22: Disclaimer
Disclaimer Items published on this presentation as IR information are intended to prov ide financial information or business information or etc. of CPALL. Some content may contain forward-looking statements, that based on management’s v iew upon the information currently av ailable to us. These info
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