Nsl Foods Public Company Limited · SET:NSL

Nsl Foods Public — FY2025 Earnings Presentation

16 slides from Nsl Foods Public's earnings presentation, Mar 10, 2026

  1. Slide 1: FY2025 Financial Highlights

    FY2025 FINANCIAL HIGHLIGHTS NSL Foods Public Company Limited Opportunity Day | 10 March 2026 | NSL Audited Full-Year Results | Year Ended 31 December 2025

  2. Slide 2: Agenda

    A G EN DA Opportunity Day | 10 March 2026 Financial Snapshot Cash Flow & Financial Discipline 01 05 FY2025 executive overview, FY2025 QoQ Analysis OCF quality, CapEx, D/E & working capital Revenue Deep Dive ESG Progress & Sustainability 02 06 Segment mix, growth drivers & quality of earnings Environ

  3. Slide 3: Financial Snapshot – Executive View

    SECTION 1 Financial Snapshot – Executive View Total Revenue Operating Profit Net Profit 6,952 MB 761 MB 603 MB +18.5% YoY +11.2% YoY +11.8% YoY vs 5,866 MB in FY2024 OPM 10.9% NPM 8.7% | EPS ฿2.01 EBITDA Operating Cash Flow ROE / ROA 925 MB 551 MB 29% / 22% Margin 13.3% OCF/NP 91% Capital efficient

  4. Slide 4: Quarterly Financial Overview – QoQ Analysis FY2025

    SECTION 1 Quarterly Financial Overview – QoQ Analysis FY2025 Metric Q1 2025 Q2 2025 Q3 2025 Q4 2025 Total Revenue (MB) 1,712.6 1,781.8 1,679.8 1,778.1 +4.0% QoQ -5.7% QoQ +5.8% QoQ Net Profit (MB) 170.7 164.7 125.4 141.8 -3.5% QoQ -23.8% QoQ +13.1% QoQ Gross Profit Margin (%) 21.3% 19.9% 17.9% 18.6%

  5. Slide 5: Revenue Deep Dive – Quality of Growth

    SECTION 2 Revenue Deep Dive – Quality of Growth Revenue by Segment (MB) FY2025 Revenue Mix & Growth 8000 6,910 Bakery & Appetizers 7000 5,598 MB (80.5%) +11.2% 5,827 6000 NSL Brands & Trading 482 MB (6.9%) +19.8% 5000 4000 Food Services 455 MB (6.5%) +48.1% 3000 Export & Agri Products 2000 335 MB (4

  6. Slide 6: Profitability & Margin Analysis

    SECTION 3 Profitability & Margin Analysis Margin Trend (%) Cost Structure Analysis 25 20.7 Cost of Sales 19.6 20 FY25: 5,565 MB (80.3%) | FY24: 4,630 MB (79.4%) +1.0pp from agri-mix & wage adj. 15 11.7 10.9 9.2 Distribution 10 8.7 FY25: 429 MB (6.2%) | FY24: 387 MB (6.6%) Improved as % of revenue (s

  7. Slide 7: Cash Flow, CapEx & Financial Discipline

    SECTION 5 Cash Flow, CapEx & Financial Discipline Cash Flow Summary (FY2025) Balance Sheet Discipline Operating CF +551 MB Total Assets 3,673 MB +19.4% YoY Investing CF -272 MB D/E Ratio 0.66x Conservative Financing CF -241 MB Interest Coverage 47.8x Very strong Cash Position 265 MB +16.5% YoY Net C

  8. Slide 8: ESG Progress & Sustainability – FY2025

    SECTION 6 ESG ESG Progress & Sustainability – FY2025 Environmental Social Governance 63% 0 Very Good Solar Rooftop Installed Human Rights Violations CG Scoring from IOD 2,239 kWp Total Solar Capacity Target: 3,500 kWp by 2027 100% HACCP/GHP Sustainable Sourcing Policy Food Safety Certified 800+ tCO2

  9. Slide 9: New Products, Innovation & Business Divisions

    SECTION 7 GROWTH STRATEGY New Products, Innovation & Business Divisions 180+ 23+ 22+ 6 13-15% New SKUs Years of Export Business Revenue Growth Planned 2026 Excellence Countries Divisions Target 2026 Business Divisions 2026 Growth Pillars NSL Foods PLC OEM bakery & ready-to-eat for 7-Eleven Product I

  10. Slide 10: NSL 2026 Operational Excellence

    S E C T I O N 7 S T R A T E G I C F R A M E W O R K NSL 2026 Operational Excellence Driving Performance, Efficiency, and Sustainable Growth STRATEGIC HIERARCHY L1 Corporate (NSL Group) Productivity Cost by TQM Control L2 Subsidiaries L3 Strategic Pillars Drive Profitability Inventory L4 Initiatives

  11. Slide 11: Revenue by Segment — FY2025

    01 / 05 REVENUE BY SEGMENT — FY2025 Investor Takeaway Bakery & Appetizers 5,598 MB (80.5%) 80.5% Record Revenue with Broad-Based Growth FY2025 revenue powered by new product NSL Brands & Trading 482 MB (6.9%) launches across all 5 business segments. 6.9% Food Services 455 MB (6.5%) 6.5% ฿6.95 Bn Exp

  12. Slide 12: Profitable Growth Despite Margin Headwinds

    ฿603 MB 02 / 05 Profitable Growth Despite Investor Takeaway Margin Headwinds Net Profit · FY2025 ▲ +11.8% YoY ▲ +11.8% ▼ −1.0pp Improving ฿603 MB 1 19.5% 2 6.2% 3 Net Profit · NPM 8.7% Gross Margin (was 20.5%) Distribution Cost / Rev Net profit grew despite raw material Raw Material price and Minimu

  13. Slide 13: How Cash Was Deployed — FY2025

    03 / 05 HOW CASH WAS DEPLOYED — FY2025 Each bar shows cash deployment as % of ฿551 MB OCF Strong Cash Generation & Capital Expenditure ฿396 MB Capacity & infrastructure 72% of OCF Disciplined Capital Allocation Dividend Paid ฿315 MB OCF self-funds CapEx, acquisitions, Returned to shareholders 57% of

  14. Slide 14: Strategic Investments Position NSL for the Next Leg of Growth

    04 / 05 Strategic Investments Position NSL for the Next Leg of Growth ฿545+ MB Total strategic capital deployed FY2025 M&A · Completed ESG · In Progress CapEx · Executing Acquisition cost · FY2025 FY2025 rollout · 20+ yr savings Total CapEx FY2025 ฿149 MB Ongoing ฿396 MB Strategic M&A expands NSL in

  15. Slide 15: Dividend + Capital Appreciation: Retained Earnings Compounding

    05 / 05 Dividend + Capital Retained Earnings — Compounding Two-year growth driving intrinsic value Appreciation FY2024 Retained Earnings ฿762 MB NSL delivers income today and compounding book value for long-term wealth creation. base FY2025 Retained Earnings ฿1,051 MB +38% ฿315 MB ฿2.01 FY2025 Divid

  16. Slide 16: Q&A Investor Takeaway & Open Discussion

    SECTION 8 Q&A Investor Takeaway & Open Discussion คุณจริยา มุสก ิ ไชย คุณวีระชน ขาวผ่อง ่ คุณอ ัครเดช เลียมเจริ ญ General Manager (GM) Executive Vice President (EVP) Chief Financial Officer (CFO) ส่งคำถำมผ่ำนระบบออนไลน์ | Submit your questions via online platform NSL Foods Public Company Limited | S

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