Warrix Sport Pcl · SET:WARRIX
Warrix Sport Pcl — Warrix Sport Public Company — Q1 2025 Earnings Presentation
52 slides from Warrix Sport Pcl's earnings presentation, May 22, 2025
Slide 1: 1Q25 Analyst Meeting
SPORT PUBLIC COMPANY LIMITED 1Q25 Analyst Meeting 22 May 2025
Slide 2: Agenda
Agenda 01 1Q25 Financial Performance 02 2025 Key Strategies 03 Business Update & Outlook 2
Slide 3: 1Q25 Financial Performance
01 1Q25 Financial Performance 3
Slide 4: 1Q25 Financial Performance (Separate)
1Q25 Financial Performance (Separate) Unit: THB million Separate P&L Statement 1Q24 4Q24 1Q25 %QoQ %YoY Key factor affecting 1Q25 Performance: Revenues from core operation 322 427 321 -25% -0.2% • Missed target revenues, esp. MT Channel. COGS 160 217 166 -24% 4% • A key driver of sales growth was th
Slide 5: 1Q25 Financial Performance (Consolidated)
1Q25 Financial Performance (Consolidated) Unit: THB million Consolidated P&L Statement 1Q24 4Q24 1Q25 %QoQ %YoY Key factor affecting 1Q25 Performance: Revenues from core operation 328 447 330 -26% 1% • Missed target revenues, esp. MT Channel. COGS 164 225 172 -23% 5% • A key driver of sales growth w
Slide 6: Key Financial Performance
Key Financial Performance Highlight YoY Change in Selling Expenses 2.5 3.4 122.5 1.6 0.8 3.8 111.8 1.2 1Q24 one-time One-time exp; exp;… temp. wages OT wages OT Wages online channel E-fulfillment E-fulfillment rental & 1Q25 1Q25 1Q24 warehouse relocation Temp. Employee… related-cost Online Channel-…
Slide 7: Key Financial Performance: Revenues by Channel
Key Financial Performance -4% YoY Revenues Breakdown By Channel -33% QoQ +6% YoY 1Q24 4Q24 1Q25 Unit: THB million -43% QoQ -4% YoY 151 -1% YoY -33% QoQ +4% QoQ -11% YoY -24% QoQ 108 +6% YoY 81 86 +64% YoY 78 74 77 -53% QoQ +11% QoQ 75 72 -1,014% YoY -6% YoY -1% YoY +77% YoY 42 49 37 -125% QoQ -4% Qo
Slide 8: Key Financial Performance: Revenues by Product
Key Financial Performance -4% YoY Revenues Breakdown By Product -33% QoQ +14% YoY Unit: THB million -29% QoQ 1Q24 4Q24 1Q25 -0.1% YoY +20% YoY -50% QoQ 156 -14% QoQ -37% YoY 113 110 109 -23% QoQ 97 94 78 57 57 66 54 +155% YoY -23% YoY +19% YoY -1% YoY 42 +541% QoQ +93% QoQ +133% QoQ +5% QoQ 22 1 1 4
Slide 9: Key Financial Performance
Key Financial Performance Unit: THB’m Revenues Gross Profit Margin 447 +0.8% YoY 61.8% -26% QoQ 59.5% 58.8% 328 330 384 49.9% 49.7% 239 269 47.9% 48.1% 45.5% 45.3% 89 64 62 1Q24 4Q24 1Q25 1Q24 4Q24 1Q25 Licensed Non- Licensed Licensed Non-Licensed Total Unit: THB’m EBITDA Unit: THB’m Net Profit 20.7
Slide 10: Key Financial Performance
Key Financial Performance Unit: THB’m Cost of Sales and Services Unit: THB’m Selling Expenses 34.1% 27.1% 37.1% 52.1% 50.3% 121 122 50.1% 112 10 11 10 21 21 447 16 19 23 25 67 67 66 328 330 1Q24 4Q24 1Q25 Advertising & Promotion People cost Rental & Service fee and Depreciation Others --•-- Ratio to
Slide 11: Balance Sheet
Balance Sheet Unit: THB’m Assets Liabilities & Equity Unit: THB million Unit: THB million +2% YTD +2% YTD 1,883 1,918 1,883 1,918 85 Cash and cash equivalents 116 229 Trade and other 210 current payables 45 54 Trade and other receivables 513 524 Other Liabilities Inventories Equity Investment proper
Slide 12: 2025 Key Strategies
02 2025 Key Strategies 12
Slide 13: 2025 Key Strategies
2025 Key Strategies Brand Building - Improve brand positioning: stretch brand awareness to regional active & lifestyle brand to capture new-wider target groups and growing brand awareness of its non-license products. - Enhance communication of each sales channels. - Strengthen ‘Run Hub’ as Lifestyle
Slide 14: 2025 Key Strategies: Brand Building
2025 Key Strategies Brand Building - Improve brand positioning: stretch brand awareness to regional active & lifestyle brand to capture new-wider target groups and growing brand awareness of its non-license products. - Enhance communication of each sales channels. - Strengthen ‘Run Hub’ as Lifestyle
Slide 15: The 75th TU-CU Traditional Football Match
The 75th TU-CU TRADITIONAL FOOTBALL MATCH 15.02.2025 15
Slide 16: The 75th TU-CU Traditional Football Match
The 75th TU-CU TRADITIONAL FOOTBALL MATCH 15.02.2025 16
Slide 17: Focus on Direct to Customer
2025 Key Strategies Focus on Direct to Customer (Own Channels from 54% in 2024 to 65% in 2025) - Expand distribution channel, mainly focus on own channels; 20 new (temporary) shops and online. - Increasing high margin product mix. - AI-Driven Efficiency. - Develop every touch point for better custom
Slide 18: Warrix's Own Shop
Warrix’s Own Shop: Permanent Shop Temporary Shop 4 Flagship / Hub 2 Official Shop Permanent 14 7 Official Shop 3 Outlet 3 Temporary 1 Outlet (Long-term rental contract >1 yr.) (Short-term rental contract 6-12 mo.) As of 31 Mar 2025 21
Slide 19: 2025 Warrix's shop expansion plan
2025 Key Strategies Focus on Direct to Customer (Own Channels from 54% in 2024 to 65% in 2025) - Expand distribution channel, mainly focus on own channels; 20 new (temporary) shops and online. - Increasing high margin product mix. - AI-Driven Efficiency. - Develop every touch point for better custom
Slide 20: Shop openings 2024 to 2Q25
2025 Key Strategies Focus on Direct to Customer (Own Channels from 54% in 2024 to 65% in 2025) - Expand distribution channel, mainly focus on own channels; 20 new (temporary) shops and online. - Increasing high margin product mix. - AI-Driven Efficiency. - Develop every touch point for better custom
Slide 21: Shop openings 3Q25 to 4Q25
2025 Key Strategies Focus on Direct to Customer (Own Channels from 54% in 2024 to 65% in 2025) - Expand distribution channel, mainly focus on own channels; 20 new (temporary) shops and online. - Increasing high margin product mix. - AI-Driven Efficiency. - Develop every touch point for better custom
Slide 22: New Partnership: Official Licenses
2024 Key Strategies New Partnership - Expand new partnership through licensing strategy to diverse customer target groups in SEA. - Potential new business expansion related to health and lifestyle. Official Licenses Thailand National & Thai League International Football Club Other Sport Licenses (Ne
Slide 23: New Partnership WARRIX x Sukhothai FC
New Partnership WARRIX x SUKHOTHAI FC Official Partner 2025/2026 Official License | Football Club in Thai League 1 28
Slide 24: New Partnership WARRIX x Kanchanaburi Power FC
New Partnership WARRIX x KANCHANABURI POWER FC Official Partner 2025/2026 Official License | Football Club in Thai League 2 29
Slide 25: New Partnership WARRIX x Kelantan Red Warrior FC
New Partnership WARRIX x KELANTAN RED WARRIOR FC Official Partner 2025/2026 – 2026/2027 Official License | International Football Club in Malaysia A1 Semi-Pro League 30
Slide 26: New Partnership WARRIX x TikTok
New Partnership WARRIX x TikTok Live Base Center 34 Partnership
Slide 27: New Partnership WARRIX x TikTok
New Partnership WARRIX x TikTok Live Base Center รอจากพี่พงษ์ 35 Partnership
Slide 28: Business Update & Outlook
03 Business Update & Outlook 37
Slide 29: Warrix International in Recovery
Warrix International in Recovery Warrix Singapore: ▪ Operations will be supported by USS appointed as the primary distributor. ▪ This partnership is expected to streamline logistics and distribution for both offline and MM : 1 Distributors online channels, including PFI stores. ▪ With licensing mode
Slide 30: Warrix International in Recovery
Warrix International in Recovery Warrix Singapore: ▪ Operations will be supported by USS appointed as the primary distributor. ▪ This partnership is expected to streamline logistics and distribution for both offline and online channels, including PFI stores. ▪ With licensing model, USS will have rig
Slide 31: Leveraging new partnership to penetrate Chinese market
Leveraging new partnership to penetrate Chinese market Himaxx x Warrix (Trademark Licensing) : Launching Spring 2025 Collection ▪ Launched F/W 2024 Collection in first Himaxx Outlet Store since September 2024 to 26 stores with Warrix product at the present (+10 stores YTD) and aims to reach 60-70 st
Slide 32: WARRIX Spring 2025 Collection
WARRIX Spring 2025 Collection (Trademark Licensing) 42
Slide 33: WARRIX Spring 2025 Collection
WARRIX Spring 2025 Collection (Trademark Licensing) 43
Slide 34: Efficiency Improvements in Distribution
Efficiency Improvements in Distribution Fully Operating New Warehouse Existing Warehouse operated by 3rd party Fulfillment New Warehouse operated by Warrix 7,369 sqm. sqm. 5,300 sqm. ▪ To improve its distribution efficiency, Warrix decided to rent a new warehouse in Bangkok Free Trade Zone and opera
Slide 35: Activity Roadmap 2025
Activity Roadmap 2025 FOOTBALL EVENT 75th TU-CU 31st TRADITIONAL JATURAMITR FOOTBALL FOOTBALL MATCH FEST 15 Feb 15-22 Nov RUNNING Trail Series Trail Series 12 Jan EVENT TBC TBC TBC TBC Buriram Marathon 2025 25 Jan TBC OTHER SPORT EVENT LIFESTYLE EVENT 56
Slide 36: 2026 Sales Target
2026 Sales Target Target 2026 Gross Sales > THB ~2,700 m 100 % Sales in 2026 300 150 Services ~ 4% NEW 1,553 430 Oversea ~ 11% 6 1,225 70 Health ~ 5% 2 19 31 Licensed ~ 15% 1,062 17 279 4 211 Existing 655 228 1,805 648 696 1 4 147 147 140 1,180 963 830 549 507 504 Non-Licensed ~ 65% 2019 2020 2021 2
Slide 37: Q&A and Disclaimer
Q&A For more information, please contact IR Department ir@warrix.co.th or 094 310 7103 Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or purchase for share in Warrix Sport Public Company Limited (“WARR
Slide 38: Appendix
04 Appendix 59
Slide 39: Sport Apparel Industry Outlook
Sport Apparel Industry Outlook ▪ The sport apparel goods market in Thailand is worth approximately THB 30 billion. ▪ Recovered to pre-COVID-19 level, and on an uptrend with prospect to grow 15-20% per year premised on increasing in health awareness as more people are committed to leading healthier a
Slide 40: Thailand Annual Garment Consumption
Thailand Annual Garment Consumption 51.1 T-shirt 17% 111.7 Others 37% 34.9 300 Shirt 12% mn pcs 27.9 Polo 9% 25.6 Sportwears 48.8 9% Pants 16% Thailand Annual Garment Consumption 2020 (mn pcs) Sources : Mckinsey sporting goods 2021-2022 report, Manager Daily news the mall group research 2018, Market
Slide 41: Industry Outlook
Industry Outlook Thailand's Sports Industry Top 5 Sports Contributing to the Industry in 2023 Unit: THB million Unit: THB million 14,018 7% +13% YoY 27,252 Football 207,888 14% 184,723 Running 168,973 73,983 130,581 38% Volleyball 32,417 Badminton 17% 46,301 24% Boxing 2021A 2022A 2023A 2024F Sports
Slide 42: Key Financial Performance
Key Financial Performance Unit: THB’m Revenues Gross Profit Margin 1,553 59.5% 59.2% 1,225 54.2% 55.1% 1,063 1275 49.0% 47.8% 655 648 46.3% 1013 45.1% 834 43.9% 46.7% 45.4% 41.9% 43.9% 509 508 42.6% 41.3% 229 211 279 147 140 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Licensed Non-Licensed Lic
Slide 43: Key Financial Performance
Key Financial Performance Unit: THB’m Cost of Sales and Services Unit: THB’m Selling Expenses 27.4% 30.5% 26.6% 29.7% 58.1% 23.7% 54.9% 461 53.7% 52.2% 51.0% 48 326 72 1,553 255 37 85 181 200 22 47 30 63 18 37 30 23 19 30 256 33 166 179 100 130 1,225 2020 2021 2022 2023 2024 1,063 Advertising & Prom
Slide 44: Key Financial Performance
Key Financial Performance Unit : Million Baht 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Total A/R 327.2 245.9 344.3 357.1 294.8 317.6 400.5 524.3 Total Inventory 558.8 540.3 555.2 529.9 545.5 543.3 559.7 576.9 Total A/P 270.2 144.1 180.0 202.4 173.1 189.0 211.2 210.5 Total Assets 1906.6 1658.9 1735.7
Slide 45: Business Overview
05 Business Overview 66
Slide 46: Key Milestones
Establishment period Transformation from sport apparel to active and lifestyle Listed Co., Win the rights to produce the Myanmar Established a subsidiary, national football team sportswear products ▪ Warrix Holding Pte. Ltd. was founded KSL & WARRIX Co., Ltd. ▪ Opening 1st Physiotherapy & 2025 Trans
Slide 47: Warrix at a glance
Werrix et a glance Innovation & Design = Unbreakable Jersey Exclusive technology by WARRIX COMBA. | °°): Strong 2 National Football team licenses EB CD i international licenses >30O Clubs licenses 6 Educational licenses 6 Sponsorship licenses Extensive i Flagship Stores / Hub PAR nar: 13 Official St
Slide 48: Extendable business
Warrix Key Product Portfolio Expanding portfolio and products Football Running Basketball Golf Table Tennis Sport Equipment Sportswear [Photo] Training Footwear Innerwear Streetwear Lifestyle Active & Extendable business Lifestyle Physiotherapy & RUN HUB Performance Studio Health Trail / Marathon Ru
Slide 49: Warrix Product Portfolio at a Glance
Warrix Product Portfolio at a Glance Non - Licensed products (81%) Licensed products (18%) Classic Product National Team, Football Club, and Other Licensed Product with simple design, wear in classic and trendy ways for every occasion Warrix exclusive products with the official right to support the
Slide 50: Robust trajectory for growth in healthier and fitter lifestyle
Robust trajectory for growth in the enduring wave of healthier and fitter lifestyle Warrix continuously expand the distribution channel to cover many areas in local and global. Currently, there are 5 mains channels, which consists of 16 Warrix Own Shop > 200 Traditional Trade > 15,000 Modern Trade C
Slide 51: E-Commerce channels
Robust trajectory for growth in the enduring wave of healthier and fitter lifestyle E-Commerce /1 Website: www.WARRIX.co.th Instagram: warrix_official >300,000 members >78,500 followers Facebook: WARRIX Line: WARRIX >800,000 followers >100,000 followers Lazada: WARRIX Tiktok: warrixthailand >275,000
Slide 52: Health and lifestyle businesses
Robust trajectory for growth in the enduring wave of healthier and fitter lifestyle ▪ Continue development in other businesses related to health and lifestyle. ▪ One stop service for supporting related sport event and to be a leader in sport-health and lifestyle business. Warrix’s active health busi
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