Thai Beverage Public Co., Ltd. · SGX:Y92
Thai Beverage Public — Thai Beverage — Q1 FY2017 Earnings Presentation
23 slides from Thai Beverage Public's earnings presentation, February 2017
Slide 1: Thai Beverage PLC 1Q17 Financial Results
Thai Beverage PLC 1Q17 Financial Results (First Quarter Ended 31 December 2016) 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 1
Slide 2: Note on Forward Looking Statements
Note on Forward Looking Statements • The following presentation may contain forward looking statements by the management of Thai Beverage Public Company Limited (“ThaiBev"), relating to financial or other trends for future periods, compared to the results for previous periods. • Some of the statemen
Slide 3: Understanding this Presentation
Understanding this Presentation • As approved at the 2016 annual general meeting, the Company and its subsidiaries have changed the fiscal year from “1 January to 31 December” to “1 October to 30 September” since 1 January 2016. The first new fiscal year for 2016 was 9 months from 1 January 2016 to
Slide 4: Highlights
Highlights 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 4
Slide 5: 1Q17 Performance Highlights
1Q17 Performance Highlights Delivered growth in bottom line, amid a slowdown in sales during mourning period • Impacts from the decline in domestic consumption during mourning period • Total sales revenue dropped 8% by Baht 4,051 million • Maintain dominant position in spirits • Cost saving in beer
Slide 6: Group Financial Highlights 1Q17
Group Financial Highlights 1Q17 Revenue from sales EBITDA (million Baht) (million Baht) 46,829 10,503 -8.0% 21.4% Net profit Earnings per share (basic) (million Baht) (Baht) 7,743 0.31 29.1% 27.9% 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 6
Slide 7: Consolidated: 1Q17 Highlights
As approved at the 2016 annual general meeting, the Company and its subsidiaries have changed the fiscal year from “1 January to 31 December” to “1 October to 30 September” since 1 January 2016. The first new fiscal year for 2016 was 9 months from 1 January 2016 to 30 September 2016. The fiscal year
Slide 8: Consolidated: 1Q17 Highlights
Group ThaiBev F&N / FCL Total (M Baht) 1st quarter to 31/12/2016 Sales 46,829 - 46,829 Consolidated: Gross profit 14,298 - 14,298 1Q17 Highlights EBITDA 8,721 1,782 10,503 Net profit 6,138 1,605 7,743 1st quarter to 31/12/2015 Sales 50,880 - 50,880 Gross profit 14,100 - 14,100 EBITDA 7,947 703 8,650
Slide 9: Contribution per Business Segment 1Q17
Sales 100.0% 56.2% Contribution per Business Segment 32.1% 1Q17 8.3% 3.5% -0.1% Spirits Beer Non-Al Food Elimination Total Beverages Net Profit* 100.0% 83.3% 20.5% 0.1% -3.9% Spirits Beer Non-Al Food Total Beverages * Exclude F&N / FCL 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 9
Slide 10: Total Sales Volume
Total Sales Volume * est and 100Plus ** Energy drink, sports drink and other beverages 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 10
Slide 11: Business Segments
Business Segments 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 11
Slide 12: Spirits
Spirits 1st Quarter 1st Quarter Spirits to 31/12/2015 to 31/12/2016 Change (M Baht) Sales Revenue 29,558 26,302 -11.0% COGS (19,986) (17,589) % of Sales Revenue 67.6% 66.9% SG&A (2,641) (2,330) % of Sales Revenue 9.0% 8.8% EBITDA 7,462 6,841 -8.3% Net Profit 5,576 5,112 -8.3% Margin* EBITDA 25.2% 26
Slide 13: Spirits: Revenue-Cost Break Down
Spirits: Revenue-Cost Break Down (% of total revenue) 1Q17 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 13
Slide 14: Beer
Beer 1st Quarter 1st Quarter Beer to 31/12/2015 to 31/12/2016 Change (M Baht) Sales Revenue 15,762 15,038 -4.6% COGS (12,965) (11,549) % of Sales Revenue 82.3% 76.8% SG&A (2,343) (2,020) % of Sales Revenue 14.9% 13.4% EBITDA 788 1,706 116.5% Net Profit 485 1,260 159.8% Margin* EBITDA 5.0% 11.3% Net
Slide 15: Beer: Revenue-Cost Break Down
Beer: Revenue-Cost Break Down (% of total revenue) 1Q17 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 15
Slide 16: Non-alcoholic Beverages
Non-alcoholic Beverages 1st Quarter 1st Quarter Non-Alcoholic Beverages to 31/12/2015 to 31/12/2016 Change (M Baht) Sales Revenue 3,938 3,888 -1.3% COGS (2,882) (2,493) % of Sales Revenue 73.2% 64.1% SG&A (2,185) (1,831) % of Sales Revenue 55.5% 47.1% EBITDA (Loss) (479) 35 107.3% Net Profit (Loss)
Slide 17: Food
Food 1st Quarter 1st Quarter Food to 31/12/2015 to 31/12/2016 Change (M Baht) Sales Revenue 1,652 1,636 -1.0% COGS (976) (924) % of Sales Revenue 59.1% 56.5% SG&A (640) (710) % of Sales Revenue 38.8% 43.4% EBITDA 176 139 -21.0% Net Profit 34 5 -85.3% Margin* EBITDA 10.7% 8.5% Net Profit 2.1% 0.3% *
Slide 18: Update: International Business
Update: International Business Sales revenue decreased by 17.5% due to the decrease in beer and spirits sales • Beer - Reported beer revenue declined by 10.5% - The negative growth were mainly due to slowing down in ASEAN sales despite positive growth in Singapore and Cambodia • International spirit
Slide 19: Financials
Financials 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 19
Slide 20: Statement of Financial Position
Statement of Financial Position Statement of Financial Position 30-Sep-16 31-Dec-16 Change (Million Baht) Assets Current assets 50,104 49,149 (955) Non-current assets 137,549 137,235 (314) Total assets 187,653 186,384 (1,269) Liabilities Current liabilities 32,819 37,032 4,213 Non-current liabilitie
Slide 21: Interest Bearing Debt
Interest Bearing Debt Interest Bearing Debt 30-Sep-16 31-Dec-16 (Million Baht) Current Bank overdrafts 1,072 1,019 Short-term loans from financial institutions 2,423 2,415 Current portion of bill of exchanges and long-term loans 15,501 19,766 18,996 23,200 Non-current Debentures 2,000 2,000 Long-ter
Slide 22: Financial Ratios
Financial Ratios Ratios 30-Sep-16 31-Dec-16 Current Ratio (times) 1.53 1.33 Liability to Equity Ratio (Gearing Ratio) (times) 0.52 0.45 Interest Bearing Debt to Equity Ratio (times) 0.37 0.31 Net Interest Bearing Debt to Equity Ratio (times) 0.33 0.27 Net Interest Bearing Debt to EBITDA annualized (
Slide 23: Q&A
Q&A 1Q17 (First Quarter Ended 31 December 2016) Thai Beverage PLC 23