Cp All Public Company Limited · SET:CPALL
Cp All Public — FY2023 Earnings Presentation
21 slides from Cp All Public's earnings presentation, February 2024
Slide 1: FY2023 CPALL Operational Performance
FY2023 CPALL Operational Performance 1
Slide 2: FY2023 CPALL Operational Performance
FY2023 CPALL Operational Performance 2
Slide 3: Financial Highlights 2023
Financial Highlights 2023 Continuous a growth deliverable year Consolidated Performance Total Revenue Net Profit GP Margin EBIT Margin 921,187 18,482 21.9 4.7 Millions Baht Millions Baht Percent Percent +8.0% +39.3% +10.3% +16.5% amount growth amount growth Company Only Performance Total Revenue Net
Slide 4: Business Segment Performance
Business Segment Performance CVS & Others and Grocery Wholesaling and Retailing FY23 Revenue contribution before elimination Sales Services Wholesale 259,811 5,323 Millions Baht Millions Baht +7.2% +13.6% Sales Services 206,423 14,915 Retail Millions Baht Millions Baht +0.8% +4.9% FY23 EBT contribut
Slide 5: Store Types Breakdown
Store Types Breakdown Ongoing store expansion BKK & Suburban / Provincial Corporate / Store Business Partner & Sub-area (Unit: Stores) (Unit: Stores) 57% 50% 43% 50% Stand-alone / In PTT gas station Store Expansion (Unit: Stores) 14% 2019 2020 2021 2022 2023 +724 +720 +702 +704 +707 86% 5
Slide 6: International Expansion in 2023
International Expansion in 2023 Discover heartwarming welcome 3 Stores 82 Stores 6
Slide 7: Same Store Sales Growth
Same Store Sales Growth A surge in-store visitors, resulted in robust sales SSSG (%) Average daily sales / store (Baht) 2019 2020 2021 2022 +1.7% -14.5% -6.7% +15.9% 2023 +5.5% Spending per ticket (Baht) No. of customer/store/day (customers) 7
Slide 8: Product Sales Mix and Gross Margin
Product Sales Mix and Gross Margin Managing product mix to enhance margin Product Sales Mix Personal Care Household & Others Cigarette Food Services i.e. RTE Processed Food Beverage Gross Margin (excl. T&E) Non-foods Total Products Foods 8
Slide 9: SG&A Expenses
SG&A Expenses Leverage fixed cost to enhance cost control efficiency Consolidated SG&A Expense (Unit: Million Baht) Others +8.8% YoY Utilities Advertising Store MGT Fee Rental and D&A Personnel FY23: 179,912 MB Others (Unit: Million Baht) Company Only SG&A Expense Utilities +12.1% YoY Advertising St
Slide 10: Profitability Ratios – Consolidated
Profitability Ratios – Consolidated Demonstrate a journey marked by resilient recovery Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +10.3% YoY (Unit: Million Baht) +16.5% YoY EBITDA Net Profit (Unit: Million Baht) +8.4% YoY (Unit: Million Baht) +39.3% YoY Not e: (1) In 4Q21, t he Compan
Slide 11: Profitability Ratios – Company Only
Profitability Ratios – Company Only Demonstrate a journey marked by resilient recovery Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +16.1% YoY (Unit: Million Baht) +25.5% YoY EBITDA Net Profit (Unit: Million Baht) +15.1% YoY (Unit: Million Baht) +35.1% YoY 11 Not e: In 4Q21, t he Compan
Slide 12: Leverage Ratios
Leverage Ratios Preserved solid financial ground Cash& Cash equivalent Interest • As of 31 December 2023, CPALL reported bearing debt consolidated interest bearing debt at amount of Baht 327,345 million. Other Other liabilities • Net debt to adjusted equity was at 0.82x assets v s bond cov enant at
Slide 13: 7-Eleven expansion and CAPEX plan
7-Eleven expansion and CAPEX plan Continuity of store expansion along with efficient budget 2024 CVS Projected CAPEX 7-Eleven Stores Expansion Stores MB Stores expansion 3,800 – 4,000 • Thailand 700 Stores renov ation 2,900 – 3,500 • Cambodia 40 Investment in new projects, subsidiaries & DC 4,
Slide 14: Major Shareholders and Dividend Payment
Major Shareholders (as of Dec 31, 2023) Price (Feb 22, 2024) : Bt 57.25 - CPG 35.5% Hi/Low (12-month) : Bt 51.00/ 67.50 per share - Thai NVDR 10.6% Avg. daily turnover : 1,516 MB - South East Asia UK 3.5% - Citibank Nominees Singapore 3.1% No. of shares : 8,983,101,348 (Par Bt1.00) - State Street Eu
Slide 15: Consolidated Financial Statement – Balance Sheet
Consolidated Financial Statement Balance Sheet 2019 2020 2021 2022 2023 Unit : Million Baht Cash and current investments 29,861 40,589 97,134 71,891 67,317 Inventory 31,538 31,749 50,535 58,183 57,501 Fixed assets 116,415 120,531 257,022 257,540 258,326 Right of use assets - 52,899 77,266 82,246 86,
Slide 16: Consolidated Financial Statement – Income Statement
Consolidated Financial Statement Income Statement 2019 2020 2021 2022 2023 Unit : Million Baht Revenue from Sales & Services 550,901 525,884 565,060 829,099 895,281 Other Income 20,209 20,706 22,469 23,506 25,906 Total revenue 571,110 546,590 587,530 852,605 921,187 Cost of Sales & Services 426,063
Slide 17: Consolidated Financial Statement – Financial Ratios
Consolidated Financial Statement Financial Ratios 2019 2020 2021 2022 2023 Gross margin (sales & service) 22.7% 21.9% 21.3% 21.5% 21.9% Operating margin 5.9% 5.1% 4.3% 4.3% 4.7% EBITDA margin 7.8% 8.9% 8.5% 8.6% 8.6% Net margin 3.9% 2.9% 2.2% 1.6% 2.0% ROAA 6.0% 3.6% 1.8% 1.4% 2.0% ROAE (exc. MI) 25
Slide 18: Company Only Financial Statement – Balance Sheet
Company Only Financial Statement Balance Sheet 2019 2020 2021 2022 2023 Unit : Million Baht Cash and current investments 17,895 21,578 19,457 20,997 25,956 Inventory 14,684 15,107 16,316 18,007 19,339 Fixed assets 35,096 39,069 40,782 43,454 46,569 Right of use assets - 41,011 38,727 43,560 45,333 O
Slide 19: Company Only Financial Statement – Income Statement
Company Only Financial Statement Income Statement 2019 2020 2021 2022 2023 Unit : Million Baht Revenue from Sales & Services 334,061 300,705 290,228 354,973 399,558 Other Income 26,973 27,825 30,207 27,517 29,938 Total revenue 361,034 328,530 320,435 382,490 429,496 Cost of Sales & Services 240,235
Slide 20: Company Only Financial Statement – Financial Ratios
Company Only Financial Statement Financial Ratios 2019 2020 2021 2022 2023 Gross margin (sales & service) (%) 28.1% 27.8% 27.4% 27.4% 28.2% Operating margin (%) 7.8% 6.8% 6.0% 5.6% 6.2% EBITDA margin (%) 9.6% 11.3% 11.0% 9.9% 10.1% Net margin (%) 5.6% 4.4% 2.8% 3.0% 3.6% ROAA (%) 7.2% 4.1% 2.2% 2.7%
Slide 21: Disclaimer
Disclaimer Items published on this presentation as IR information are intended to prov ide financial information or business information or etc. of CPALL. Some content may contain forward-looking statements, that based on management’s v iew upon the information currently av ailable to us. These info