Siam Wellness Group Public Company Limited · SET:SPA

Siam Wellness Group Public — FY2024 Earnings Presentation

40 slides from Siam Wellness Group Public's earnings presentation, June 2025

  1. Slide 1: SPA FY24 Siam Wellness Group

    SPAFY24 SIAM WELLNESS GROUP

  2. Slide 2: Disclaimer

    Disclaimer: The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Siam Wellness Group Public Company Limited (“SPA” and shares in SPA, “s

  3. Slide 3: Executive Summary

    HIGHLIGHTS: CONTRIBUTING FACTORS: ▶ SPA included in FTSE SET Index Series ▶ 1 New Stores Expansion in 4Q24 Effective 23 December 2024 ▶ Free-Visa Scheme ▶ 4Q24 Net Profit 91.84 m THB (NPBT +17.66% YoY*) and 4Q24 Revenue 440.42 m THB (+10.14% YoY) ▶ FY24 Net Profit 309.14 m THB (NPBT +33.08% YoY)* and

  4. Slide 4: Company Overview

    COMPANY OVERVIEW CAFE & MEAL 04

  5. Slide 5: SPA is the first full-scale spa company listed on mai

    SPA is the first full-scale spa company to listed on mai with the most comprehensive services and most number of branches. SWL SWR (SPA PRODUCTS) (HOTEL & FOOD) OTHER WELLNESS SWE SERVICES (MASSAGE SCHOOL) ONSEN STRETCH ME CLINIC DR.SPILLER PURE SKINCARE SOLUTION 05

  6. Slide 6: Total 78 Branches Thailand

    TOTAL 78 BRANCHES THAILAND (As of 31 / 12 / 2024) 5-STARS SPA 4-STARS SPA 3-STARS SPA INNOVATIVE WELLNESS SPA BOUTIQUE DAY SPA NEIGHBORHOOD MASSAGE & SPA Avg. Spend = 2,275 THB/pax Avg. Spend = 1,600 THB/pax Avg. Spend = 750 THB/pax CAPEX 25 million THB/branchzz CAPEX 15-20 million THB/branch CAPEX

  7. Slide 7: Stretching Clinic and Sophisticated Facial Spa

    STRETCHING CLINIC WITH SOPHISTICATED ADVANCED TECHNOLOGY FACIAL SPA Avg. Spend = 1,400 THB/pax Avg. Spend = 3,000 THB/pax CAPEX 5-7 million THB/branch CAPEX 5-7 million THB/branch 6 BRANCHES THAILAND* 2 BRANCHES THAILAND 07

  8. Slide 8: SPA's branches are located in most strategic locations

    0 10 20 30 40 50 60 70 80 SPA’s branches are located 9M24 60 2 8 8 78 in most strategic locations 2023 55 2 8 6 71 CHINA 2022 52 2 10 7 71 XI-AN 2021 49 3 10 7 70 Chiang Mai 2020 48 3 10 7 70 2019 45 3 10 5 63 Nong Khai 2018 39 3 10 3 55 MYANMAR 2017 27 3 11 41 YANGON 2016 19 3 8 31 Nakhon Ratchasim

  9. Slide 9: YE24 Customers, Revenue by Business and Brand

    SPA Customer by Nationality YE24 SPA Revenue by Business YE24 Spa Revenue by Brand YE24 4% 3% Others 2% RarinJinda 5% Hotel & Food Baan Suan 30% Thai & Ex-pats 70% Tourists 89% 93% (Asia, Middle East, Europe, USA) Spa & Wellness Let’s Relax Assumption: Staff works 8 hours a day, 80% 6 days a week 80

  10. Slide 10: SPA included in FTSE SET Index Series

    SPA included in FTSE SET Index Series SPA has been selected as one of the securities included in the calculation of the FTSE SET Index Series by the Stock Exchange of Thailand and FTSE Russell, with the inclusion taking effect on December 23, 2024. 10

  11. Slide 11: Awards & Accreditations

    Awards & Accreditations Let’s Relax Onsen and Spa: Thonglor named Best Onsen in Thailand 2024 by Wellness Haven Let’s Relax Onsen and Spa, Thonglor branch, has been awarded Best Onsen in Thailand for the second consecutive year, maintaining its outstanding standards of excellence. 11

  12. Slide 12: 4Q24 Branch Opening

    4Q24 BRANCH OPENING Let’s Relax Icon Charoen Nakhon 12

  13. Slide 13: Outstanding Performance

    OUTSTANDING PERFORMANCE NET PROFIT TOTAL REVENUE EBITDA & EBITDA margin & NET PROFIT MARGIN 2018 2019 2020 2021 2022 2023 2024 45.0% 23.0% 41.4% 18.1% 40.3% 17.2% 19% THB m 29.6% 38.5% 350 309 THB m 30.5% 300 657 250 332 92 THB m 2000 598 200 600 81 1,673 150 166 100 206 246 61 1,450 1,473 1500 500

  14. Slide 14: Earnings Recovery

    EARNINGS RECOVERY TOTAL ASSETS TOTAL LIABILITIES TOTAL EQUITY THB m THB m THB m 3000 2000 1200 1,850 2,632 1,727 2,419 1,639 2500 1000 2,257 2,136 1500 1,973 2000 800 1,072 1,516 1,198 1500 1,369 1000 1,366 1,265 1,340 938 600 2,400 2,147 901 2,055 1,854 970 1,132 905 1,610 696 1000 593 400 618 1,22

  15. Slide 15: Gearing Still Manageable

    GEARING STILL MANAGEABLE DEBT TO EQUITY & LIQUIDITY ROA&ROE 50 44.61% 45.18% 3.5 3.25 38.27% 40 41.91% 29.5% 32.21% 3.0 30 23.8% 23.4% 2.65 2.36 17.83% 18.11% 2.5 20 18.05% 16.2% 17.0% 9.68% 15.12% 18.30% 1.91 1.91 10 15.1% 2.0 3.38% 5.32% 1.47 1.41 0 -3.8% 0.93% 1.5 1.18 1.12 1.07 -10.3% -10.1% 0.9

  16. Slide 16: Total Tourists 2024 and Top 5 Nationalities

    Source: Ministry of Tourism & Sports TOTAL TOURISTS 1 JANUARY – 31 DECEMBER 2024 35.54 MILLIONS (+26.27% YoY) Total Tourists (100Pax) / Change %(MoM) 15.0% 4,000,000 3,627.44 3,352.30 3,500,000 3,150.24 10.0% 3,035.30 3,103.42 2,982.72 2,963.15 3,000,000 2,757.13 2,740.37 2,679.18 2,633.46 2,521.01

  17. Slide 17: Outlook

    OUTLOOK 17

  18. Slide 18: Forecast

    FORECAST 0100001011101 1001010010011 0100001011101 11110100010111 1001010010011 0100101101100 11110100010111 0100101101100 18

  19. Slide 19: Q&A and Contact

    Ms. Yonlawan Ahemalongkorn 02 641-6619-20 yonlawan@siamwellnessgroup.com Q&A Company information https://swg.notive-yet.com/th/ www.facebook.com/siamwellnessgroup 19

  20. Slide 20: Appendix

    APPENDIX 20

  21. Slide 21: Cafe & Meal

    “~~ - ; ranrminon Lets Relan ots Rela Boonsust) (> Stretchene — pa. Spt Pure SkinCare Solutions Zw =—— a, | mlm @oge WELLNESS SPA RESORT. RaginViLias .

  22. Slide 22: RarinJinda Wellness Spa

    RARINJINDA WELLNESS SPA World-Class Wellness Spa that harmonize all of life’s senses to deliver the ultimate Wellness Experience RarinJinda Wellness Spa, a premium and innovative spa that harmonized all life senses. It is dedicated to be the most innovative and admirable Thai Wellness Spa by combini

  23. Slide 23: RarinJinda Wellness Spa

    RARINJINDA WELLNESS SPA CHIANG MAI (1) RarinJinda Wellness Spa Chiang Mai BANGKOK (1) RarinJinda Wellness Spa Ratchadamri 23

  24. Slide 24: Let's Relax boutique day spa

    Thailand’s Boutique Day Spa that offers refined spa indulgence for a New Lease of Life. Let’s Relax Spa stands for warm hospitality and sensory revitalization, with convenient and accessible branches across the nation. The serene atmosphere with contemporary decoration induces a relaxed and peaceful

  25. Slide 25: Let's Relax

    KRA BI LET’S RELAX (21) Let’s Relax Mahanakhon Cube (22) Let’s Relax Novotel Pratunam (1) Let’s Relax Krabi Wake Up THAI L A N D (23) Let’s Relax Ploenchit (2) Let’s Relax Krabi Centara (24) Let’s Relax Terminal 21 Rama3 Aonang Beach CHIA NG M AI (25) Let’s Relax Samyan Mitrtown (3) Let’s Relax Krab

  26. Slide 26: Baan Suan neighbourhood massage

    Cozy and Warm Neighbourhood massage, center with the touch of Thainess for your comfort Baan Suan Massage, a neighborhood massage center that you will feel like home, It is a stand-alone massage shophouse comprises of a house, which is converted into thai, foot and aroma massage rooms, a lush garden

  27. Slide 27: Baan Suan Massage

    BAAN SUAN MASSAGE BANGKOK KORAT (1) Baan Suan Nonthaburi (1) Baan Suan Terminal 21 Korat (2) Baan Suan Prachanukul (3) Baan Suan Charoennakorn 68 NONG KHAI (4) Baan Suan Baromrajchonnanee (1) Baan Suan Nong Khai (5) Baan Suan Petkasem (6) Baan Suan Ramintra 62 27

  28. Slide 28: Special Project: Stretch me Clinic

    SPECIAL PROJECT Stretch me Clinic (1) Stretch me Clinic Leisure Space Central World (2) Stretch me Clinic Grande Centre Point Ploenchit (3) Stretch me Clinic Ginza Thonglor (4) Stretch me Clinic The Allez Sukhumvit 13 (5) Stretch Me Clinic WellnessMe Bangna 28

  29. Slide 29: Special Project: Dr. Spiller Pure SkinCare Solutions

    SPECIAL PROJECT Dr. Spiller Pure SkinCare Solutions. (1) Dr.Spiller Pure SkinCare Solutions Ginza Thonglor (2) Dr.Spiller Pure SkinCare Solutions Leisure Space CentralWorld 29

  30. Slide 30: RarinJinda Wellness Spa Resort / Rarin Villas

    RARINJINDA WELLNESS SPA RESORT / RARIN VILLAS CHIANG MAI (1) RarinJinda Wellness Spa Resort Chiang Mai (2) Rarin Villas Chiang Mai (Management Contract) 30

  31. Slide 31: Deck One / ORB Cafe & Meal

    DECK ONE / ORB Cafe & Meal CAFE & MEAL CHIANG MAI (1) Deck1 Restaurant Chiang Mai (2) ORB Café & Meal Chiang Mai PATTAYA (3) ORB Café & Meal Pattaya BANGKOK (4) ORB Café & Meal WellnessMe Bangna 31

  32. Slide 32: LRL (Let's Relax Lifestyle)

    LRL (LET’S RELAX LIFESTYLE) 32

  33. Slide 33: Siam Wellness Academy

    SIAM WELLNESS ACADEMY Siam Wellness Academy offers theoretical and practical training to spa therapists. The instructors are well qualified with certificates from the United States and Thailand (Wat Pho). The school is certified by the Ministry of Education. 33

  34. Slide 34: Awards & Recognitions

    AWARDS & RECOGNITIONS 34

  35. Slide 35: Awards & Recognitions

    AWARDS & RECOGNITIONS ■ 1 of 8 Best Luxury Spas in the World, Agoda GLOBAL STAGE ■ Best Luxury Destination Spa, World Luxury Spa Awards 2012 ■ Best Luxury Boutique Hotel, World Luxury Hotel Awards 2012 ■ Tripadvisor Certificate of Excellence Hall of Fame 2019 ■ Asia’s Top 50 Brands, CMO Asia Awards

  36. Slide 36: Awards & Recognitions

    AWARDS & RECOGNITIONS ■ Hall of Fame, Spa, Thailand Tourism Awards 2021 LOCAL ■ Gold Awards, Spa, Thailand Tourism Awards 2008, 2017, 2019 (3 awards), 2021, 2023 (2 awards) STAGE ■ Outstanding Awards, Spa, Thailand Tourism Awards 2010, 2013, 2015, 2017, 2021 (3 awards) ■ Best Spa, People’s Choice Aw

  37. Slide 37: Leadership, Investor Relations and Corporate Governance Awards

    AWARDS & RECOGNITIONS LEADERSHIP, INVESTOR RELATIONS AND CORPORATE GOVERNANCE AWARDS ■ Best CEO, IAA Awards for Listed Company 2015-2016 ■ Best CFO, IAA Awards for Listed Company 2020 ■ Forbes Best Under a billion, 2018, 2020 ■ Best Small Cap Company, Finance Asia, Asia’s Best Companies 2020 ■ Best

  38. Slide 38: Shareholding Structure

    SHAREHOLDING STRUCTURE Domestic Fund 8% 61% Foreign Top 5. 1. Mr. Wiboon Utsahajit 10.71% Fund 12% 2. Mr. Prasert Jiravanstit 9.72% 3. Mrs. Pranee Suphawatanakiat 8.01% Executive 4. Mrs. Thanit Amorntirasan 7.94% Retail 19% +Family • Utsahajit Family 43% 5. Mr. Narun Wiwattanakrai 3.55% • Jiravansti

  39. Slide 39: Dividend History

    DIVIDEND HISTORY Policy : Minimum 40% of net profit payout. Dividend Payout Financial Payment Dividend Total Eps per Share Ratio Year Date (Thb/Share) Payout Consolid/Separate Consolid/Separate 2017 08/09/17 0.05 28.50 M Interim 2017 25/04/18 0.05 28.50 M Annual 2017 0.10 57.00 M 0.31 0.28 32% 36% To

  40. Slide 40: Siam Wellness Group Public Company Limited

    [SPA] SIAM WELLNESS GROUP PUBLIC COMPANY LIMITED ht t p s: / / sw g . n o t ive - ye t . c o m / t h /

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