Thai Beverage Public Co., Ltd. · SGX:Y92
Thai Beverage Public — Thai Beverage — H1 2017 Earnings Presentation
30 slides from Thai Beverage Public's earnings presentation, May 2017
Slide 1: Thai Beverage PLC 1H17 Financial Results
Thai Beverage PLC 1H17 Financial Results (First Half Ended 31 March 2017) 1H17 (First Half Ended 31 March 2017) 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 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 4
Slide 5: 1H17 Performance Highlights
1H17 Performance Highlights The mourning period affect was beyond expectation • Impacts from the decline in domestic consumption during mourning period continued • Total sales revenue dropped 8.4% to Baht 97,176 million • Maintain dominant position in spirits • Maintain market share in beer • Margin
Slide 6: Group Financial Highlights 1H17
Group Financial Highlights 1H17 Revenue from sales EBITDA (million Baht) (million Baht) 97,176 19,785 -8.4% -2.9% Net profit Earnings per share (basic) (million Baht) (Baht) 14,322 0.57 -1.8% -2.2% 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 6
Slide 7: Interim Dividend
Interim Dividend Interim'16 Interim'17 Dividend Dividend Payment (Jan16 - Jun 16) (Oct 16 - Mar 17) Payment Net Profit belonging to the Company - Include F&N/FCL (Million Baht) 14,366 14,272 Number of Shares (Million Shares) 25,110 25,110 Interim Dividend (Million Baht) 5,022 5,022 Dividend per shar
Slide 8: Consolidated: 2Q17 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 9: Consolidated: 1H17 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 10: Consolidated: 2Q17 Highlights
Group ThaiBev F&N / FCL Total (M Baht) 2nd quarter to 31/3/2017 Sales 50,347 - 50,347 Consolidated: Gross profit 15,549 - 15,549 2Q17 Highlights EBITDA 8,789 493 9,282 Net profit 6,228 351 6,579 2nd quarter to 31/3/2016 Sales 55,175 - 55,175 Gross profit 16,219 - 16,219 EBITDA 10,635 1,082 11,717 Ne
Slide 11: Consolidated: 1H17 Highlights
Group ThaiBev F&N / FCL Total (M Baht) 1st Half to 31/3/17 Sales 97,176 - 97,176 Consolidated: Gross profit 29,847 - 29,847 1H17 Highlights EBITDA 17,510 2,275 19,785 Net profit 12,366 1,956 14,322 1st Half to 31/3/16 Sales 106,055 - 106,055 Gross profit 30,319 - 30,319 EBITDA 18,582 1,785 20,367 Ne
Slide 12: 1H17 Contribution per Business Segment
1H17 Contribution per Business Segment * Exclude F&N / FCL 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 12
Slide 13: Total Sales Volume
Total Sales Volume * est and 100Plus ** Energy drink, sports drink and other beverages 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 13
Slide 14: Business Segments
Business Segments 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 14
Slide 15: Spirits 2Q17
Spirits 2nd Quarter 2nd Quarter Spirits to 31/3/2016 to 31/3/2017 Change (M Baht) Sales Revenue 31,231 28,898 -7.5% COGS (21,022) (19,196) % of Sales Revenue 67.3% 66.4% SG&A (2,439) (2,785) % of Sales Revenue 7.8% 9.6% EBITDA 8,239 7,359 -10.7% Net Profit 6,218 5,542 -10.9% Margin* EBITDA 26.4% 25.
Slide 16: Spirits 1H17
Spirits 1st Half 1st Half Spirits to 31/3/2016 to 31/3/2017 Change (M Baht) Sales Revenue 60,789 55,195 -9.2% COGS (41,008) (36,780) % of Sales Revenue 67.5% 66.6% SG&A (5,080) (5,115) % of Sales Revenue 8.4% 9.2% EBITDA 15,701 14,200 -9.6% Net Profit 11,794 10,654 -9.7% Margin* EBITDA 25.8% 25.7% N
Slide 17: Spirits: Revenue-Cost Break Down
Spirits: Revenue-Cost Break Down (% of total revenue) 1H17 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 17
Slide 18: Beer 2Q17
Beer 2nd Quarter 2nd Quarter Beer to 31/3/2016 to 31/3/2017 Change (M Baht) Sales Revenue 18,034 15,522 -13.9% COGS (14,171) (11,895) % of Sales Revenue 78.6% 76.6% SG&A (1,979) (2,605) % of Sales Revenue 10.9% 16.8% EBITDA 2,115 1,283 -39.3% Net Profit 1,634 923 -43.5% Margin* EBITDA 11.7% 8.3% Net
Slide 19: Beer 1H17
Beer 1st Half 1st Half Beer to 31/3/2016 to 31/3/2017 Change (M Baht) Sales Revenue 33,796 30,560 -9.6% COGS (27,136) (23,444) % of Sales Revenue 80.3% 76.7% SG&A (4,322) (4,625) % of Sales Revenue 12.8% 15.1% EBITDA 2,903 2,989 3.0% Net Profit 2,119 2,183 3.0% Margin* EBITDA 8.6% 9.8% Net Profit 6.
Slide 20: Beer: Revenue-Cost Break Down
Beer: Revenue-Cost Break Down (% of total revenue) 1H17 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 20
Slide 21: Non-alcoholic Beverages 2Q17
Non-alcoholic Beverages 2nd Quarter 2nd Quarter Non-Alcoholic Beverages to 31/3/2016 to 31/3/2017 Change (M Baht) Sales Revenue 4,435 4,293 -3.2% COGS (2,954) (2,823) % of Sales Revenue 66.6% 65.8% SG&A (1,831) (2,041) % of Sales Revenue 41.3% 47.6% EBITDA (Loss) 99 (28) -128.3% Net Profit (Loss) (1
Slide 22: Non-alcoholic Beverages 1H17
Non-alcoholic Beverages 1st Half 1st Half Non-Alcoholic Beverages to 31/3/2016 to 31/3/2017 Change (M Baht) Sales Revenue 8,373 8,181 -2.3% COGS (5,836) (5,316) % of Sales Revenue 69.7% 65.0% SG&A (4,016) (3,872) % of Sales Revenue 48.0% 47.4% EBITDA (Loss) (380) 7 101.8% Net Profit (Loss) (818) (51
Slide 23: Food 2Q17
Food 2nd Quarter 2nd Quarter Food to 31/3/2016 to 31/3/2017 Change (M Baht) Sales Revenue 1,535 1,647 7.3% COGS (851) (898) % of Sales Revenue 55.4% 54.5% SG&A (648) (720) % of Sales Revenue 42.2% 43.7% EBITDA 182 175 -3.8% Net Profit 38 35 -7.9% Margin* EBITDA 11.9% 10.6% Net Profit 2.5% 2.1% * mar
Slide 24: Food 1H17
Food 1st Half 1st Half Food to 31/3/2016 to 31/3/2017 Change (M Baht) Sales Revenue 3,187 3,283 3.0% COGS (1,827) (1,822) % of Sales Revenue 57.3% 55.5% SG&A (1,288) (1,430) % of Sales Revenue 40.4% 43.6% EBITDA 358 314 -12.3% Net Profit 72 40 -44.4% Margin* EBITDA 11.2% 9.6% Net Profit 2.3% 1.2% *
Slide 25: Update: International Business
Update: International Business 1H2017 sales revenue decreased by 20.9% due to the decrease in beer and spirits sales • Beer - Reported beer revenue declined by 19.2% - The negative growth were mainly due to continued slowdown in ASEAN despite positive growth in Singapore, Vietnam and Cambodia • Inte
Slide 26: Financials
Financials 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 26
Slide 27: Statement of Financial Position
Statement of Financial Position Statement of Financial Position 30-Sep-16 31-Mar-17 Change (Million Baht) Assets Current assets 50,104 49,721 (383) Non-current assets 137,549 137,385 (164) Total assets 187,653 187,106 (547) Liabilities Current liabilities 32,819 41,941 9,122 Non-current liabilities
Slide 28: Interest Bearing Debt
Interest Bearing Debt Interest Bearing Debt 30-Sep-16 31-Mar-17 (Million Baht) Current Bank overdrafts 1,072 11 Short-term loans from financial institutions 2,423 5,971 Current portion of bill of exchanges and long-term loans 15,501 20,157 18,996 26,139 Non-current Debentures 2,000 2,000 Long-term b
Slide 29: Financial Ratios
Financial Ratios Ratios 30-Sep-16 31-Mar-17 Current Ratio (times) 1.53 1.19 Liability to Equity Ratio (Gearing Ratio) (times) 0.52 0.48 Interest Bearing Debt to Equity Ratio (times) 0.37 0.33 Net Interest Bearing Debt to Equity Ratio (times) 0.33 0.31 Net Interest Bearing Debt to EBITDA annualized (
Slide 30: Q&A
Q&A 1H17 (First Half Ended 31 March 2017) Thai Beverage PLC 30