Thaifoods Group Public Co. Ltd. · SET:TFG
Thaifoods Group Public — Q2 2025 Earnings Presentation
30 slides from Thaifoods Group Public's earnings presentation, Aug 19, 2025
Slide 1: Company Presentation Q2'2025
TFG Company Presentation Q2’2025 Thaifoods Group Public Company Limited
Slide 2: Agenda
Agenda Executive Summary Company Overview Financial Highlight Management Team Appendix Company Presentation Q2’2025
Slide 3: Executive Summary
Executive Summary Background TFG is the fully integrated poultry and swine o Operation poultry, swine, feed mill and retail shop in Thailand and swine farm in Vietnam. business, we have the own sale channel and o Operation in Thailand for 40 years and in Vietnam for 10 years. IPO SET in 2015. o Mark
Slide 4: Company Profile
Company Profile TFG was founded in 1987, Mr. Winai Teawsomboonkij, our founder, CEO and Chairman of the Executive Committee, began operating his first chicken farm. Today we are one of leader in farm and food industry in Thailand. Industry SET/ Agro & Food Industry/ Food & Beverage 3.31% 1.86% First
Slide 5: Company Overview
Company Overview Fully Integrated business FEED FARM FOOD FOOD Processing Distribution Swine Slaughterhouse Chicken Sausage Factory Poultry Further Factory Animal Feed Sauce and Drink Factory Company Presentation Q2’2025
Slide 6: Our Factory
Our Factory Retail Shop 462 Stores Feed Mill Factory • Prachinburi (60,000 Tonnes/month) Suphanburi (110,000 Tonnes/month) • Swine farm (90,000 Pigs/month) • 126 contract farmers Poultry farm • 2 grandparent farms more than 245 contract farmers • 21 parent farms 19 breeder chicken farms 7 hatcheries
Slide 7: TFG's Group structure
TFG’s Group Thaifoods Group Public Company Limited Production and selling of chickens, pigs and animal feed Poultry Swine Animal Feed Retail Shops Others 100% 100% 100% 100% 100% Thai Foods Poultry Farm Co., Ltd. Thai Foods Swine Farm Co., Ltd. Thai Foods Feed Mills Co., Ltd. Thai Foods Fresh Market
Slide 8: Financial Highlight
Financial Highlight Unit : Million Baht GP 19.03% 6.77% 13.40% 21.19% 24.02% 19.03% 6.77% 21.19% 11.57% 22.65% 65,482 65,482 55,871 55,871 52,323 52,323 36,504 30,637 17,729 18,776 2022 2023 2024 Q1 2025 Q2 2025 2022 2023 2024 6M 2024 6M 2025 NP 8.96% (1.44)% 4.76% 11.41% 13.46% 8.96% (1.44)% 4.76%
Slide 9: Revenue Segment
Revenue Segment Unit : Million Baht Other, 0% Revenue Q2 2024 COGS %GP from Sale Poultry, Poultry 4,191 3,232 23% 27% Swine 3,322 2,957 11% Q2 2024 Retail shop, 37% Feed Mill 2,254 2,135 5% Retail shop 5,807 5,023 14% Swine, 21% Other 65 36 45% Feed Mill, Total 15,639 13,382 14% 14% Other, 1% Revenu
Slide 10: Poultry Business
Poultry Business Trader Trader 2% Modern Trade 8% Modern Trade Station UAE 4% 2% Korea 7% 3% 0% Station Wholesales Export 9% 7% 38% Hongkong/ Japan China 30% Wholesales Food Service 26% 10% Q2 2024 10% Q2 2025 Export Malaysia Europe 55% 39% 2% Food Service 10% Industry 17% Industry 21% Q2 2024 Q2 20
Slide 11: Swine Business
Swine Business Q2 2024 Q2 2025 Live Pig 19% Pork Part 27% Pork Part 39% Pork Part 13% Live Pig 73% Live Pig 61% Interco 68% Q2 2024 Q2 2025 % Change % Change Price Q2 2024 Q2 2025 % Change Distribution Tonnes Mil Bt. Tonnes Mil Bt. (Volum) (Value) Average Price 61.28 74.69 21.88% Live Pig 14,161 908
Slide 12: Swine Business in Vietnam
Swine Business in Vietnam Q2 2024 Q2 2025 % Change % Change Distribution Tonnes Mil Bt. Tonnes Mil Bt. (Volum) (Value) Live Pig 21,702 1,901 26,373 2,244 22% 18% Company Nationality YE 2024 CP Thailand 312,000 CJ Vina South Korea 130,000 Thai Viet Thailand 72,500 Green Feed Vietnam 65,000 Japfa Indo
Slide 13: Feed Mills Business
Feed Mills Business Q2 2024 Q2 2025 External Sales 32% External Sales 37% Internal Sales 68% Internal Sales 63% Corn Q2 2024 Q2 2025 % % Soybean Meal 21.14 19.96 20.28 Distribution Change Change Tonnes Mil Bt. Tonnes Mil Bt. 17.64 16.68 17.83 (Volum) (Value) 15.11 15.31 15.12 14.57 15.12 14.52 13.85
Slide 14: Retail Business
Retail Business Pork 48.5% Chicken 26.6% Dry grocery & Other 17.6% Frozen, Further 4.3% Sausage, Chilled 3.0% No. of Shop Region Y2020 Y2021 Y2022 Y2023 Y2024 Q1/2025 Q2/2025 GBKK 0 35 62 63 65 68 68 Provincial 2 50 158 287 336 362 394 Total 2 85 220 350 401 430 462 Same Store Sales Growth (SSSG) SS
Slide 15: Retail Business
Retail Business Avg. Sales per shop day 170,690 155,795 160,599 138,105 119,499 88,964 Thaifoods Fresh Market Y2021 Y2022 Y2023 Y2024 Q1 2025 Q2 2025 Company Presentation Q2’2025
Slide 16: Retail Business
Retail Business Gross Profit Margin (%) 16.7% 17.2% 16.4% 15.5% 15.2% 14.2% 15.0% 13.6% 2022 2023 2024 6M 2025 GP (Normal) GP (Exclude logistic cost) Gross Margin Mixed 27.0% 25.6% 26.4% 26.6% 25.3% 23.6% 24.1% 19.3% EBITDA Margin (%) & Net Profit (%) 21.7% 21.0% 21.3% 2.4% 18.6% 18.7% 19.3% 19.5% 1
Slide 17: Retail Business
Retail Business Company Presentation Q2’2025
Slide 18: Financial Position
Financial Position Unit : Million Baht Total Assets Total Liabilities Total Equity 47,146 33,450 19,103 30,083 29,650 26,185 15,587 16,499 46,149 13,696 45,670 45,288 2022 2023 2024 Q2 2025 2022 2023 2024 Q2 2025 2022 2023 2024 Q2 2025 Interest Bearing Debt IBD to Equity ratio (Time) ROE (%) 1.91 51
Slide 19: Potential Growth & Strategy
Potential Growth & Strategy Retail Shop Game Changer in Retail Market In Thailand • Thailand traditional market (wet market) to be change to more commercial store • More modernize • More hygiene • Big player producers have their own channel The revenue from retail business increase Unit : Million Ba
Slide 20: Potential Growth & Strategy
Potential Growth & Strategy Maintain Revenue Growth • Revenue growth YoY every year since IPO and trend to growth continuous. Revenue CAGR for 5 years around 16% • In 2025, we plan revenue growth 10 - 15%. The growth will be in 1. Retail shop expansion 2. Boost revenue per store 3. Volume swine sold
Slide 21: Potential Growth & Strategy
Potential Growth & Strategy Liquidity Cash Cycle (Day) • We have inventory management to control the 50.94 day on hand and reduce the warehouse expense 47.12 48.82 41.21 40.73 39.73 and make the inventory day reduce to be 35 days 30.95 34.93 27.88 in 6M2025 from 40 days in 6M 2024. 20.70 23.60 24.28
Slide 22: Key Follow Up Issues: Bird Flu Situation in Brazil
Key Follow Up Issues: Bird Flu Situation in Brazil Company Presentation Q2’2025
Slide 23: TFG Rewards
TFG Rewards Good Level for Develop and operate standards throughout Good corporate governance the global food and feed supply chain. Private Sector Collective Hazard Analysis Critical Action Coalition Against Corruption Control Point Thailand Sustainability Investment Halal Standard Company Presenta
Slide 24: Management Team
Management Team Mr. Winai Teawsomboonkij Chief Executive Officer He is major shareholder of TFG . He started to the first chicken farm of 20,000 chickens in Lopburi province in 1987. Mr. Phet Nantavisai Chief Operating Officer He joined TFG in 2010, started project great grand parent of swine farm.
Slide 25: Financial – Income Statement
Appendix Financial – Income Statement Income Statement (Unit : THB million) 2022 2023 2024 Change % Q2 2024 Q2 2025 Change % Revenue from sales 52,323 100% 55,871 100% 65,482 100% 9,611 17% 15,639 100% 18,776 100% 3,136 20% Cost of sales 42,367 81% 52,086 93% 56,706 87% 4,621 9% 13,382 86% 14,265 76
Slide 26: Financial – Income Statement
Appendix Financial – Income Statement Income Statement (Unit : THB million) 2022 2023 2024 Change % 6M 2024 6M 2025 Change % Revenue from sales 52,323 100% 55,871 100% 65,482 100% 9,611 17% 30,637 100% 36,504 100% 5,867 19% Cost of sales 42,367 81% 52,086 93% 56,706 87% 4,621 9% 27,094 88% 28,237 77
Slide 27: Financial – Balance Sheet
Appendix Financial – Balance Sheet Balance Sheet (Unit : THB million) 2022 % 2023 % 2024 % Q2 2025 % Change % Current assets Cash and cash equivalents 818 2% 836 2% 4,907 11% 4,428 10% (479) (10%) Trade accounts receivable 2,522 6% 2,374 5% 2,084 5% 2,166 5% 82 4% Other current receivable 1,009 2% 1
Slide 28: Financial – Balance Sheet
Appendix Balance Sheet (Unit : THB million) Liabilities and equity 2022 % 2023 % 2024 % Q2 2025 % Change % Financial – Balance Sheet Current liabilities Short-term borrowings from financial institutions Trade accounts payable 9,379 2,786 21% 12,109 6% 3,950 26% 9,939 8% 3,594 22% 8% 7,157 3,149 16%
Slide 29: Commodity Price
Commodity Price Poultry (THB/Kg.) Swine (THB/Kg.) Feed Mill (THB/Kg.) 21.14 59.08 19.96 20.28 55.71 54.00 99.60 97.32 17.64 17.83 16.68 51.80 89.35 15.12 83.78 15.11 15.31 44.87 14.52 14.57 40.96 41.77 39.79 41.51 75.54 40.20 69.96 72.22 75.09 13.85 14.56 40.84 40.20 72.75 42.07 35.52 37.70 38.62 38
Slide 30: Thank You
Thank You Email : Investorrelations@tfg.co.th Website : www.tfg.co.th Telephone : +66 (0) 2 513 8989 The Company presentation is prepared by Thaifoods Group Public Company Limited (“the Company”) for our investors, shareholders and/or related persons.
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