2Q/17 OPPORTUNITY DAY Taokaenoi Food & Marketing Public Company Limited
2Q/17 OPPORTUNITY DAY
Taokaenoi Food & Marketing Public Company Limited
PRESENTATION AGENDA
Company Overview
Financial Performance
Business Outlook
Q&A
TAOKAENOI FOOD & MARKETING PLC.
TKN STOCK OVERVIEW
3
Key Information :
• Registered Capital
• Issued & Paid Up Capital
• SET Index
• CGR 2016
• Dividend
As of Aug 25, 2017
• Major Shareholders
• Market Cap
345 Mil Baht (1,380 Mil Share)
345 Mil Baht (1,380 Mil Share)
SET 100 / MSCI Global Small Cap Index /
FTSE SET Mid Cap Index / FTSE SET Shariah Index
Policy : 40% of Net Profit (Separate FS)
Yr 2016 : 90% of Net Profit (Separate FS)
Peeradechapan group 61.96 %
Free Float 32.84 %
27,048 Mil B (@ 19.60 baht/share)
Dividend B / Share Payment Date
6M/2017 0.170 Sep 13, 17
12M/2016 0.300 May 12, 17
6M/2016 0.190 Sep 7, 16
12M/2015 0.105 Apr 29, 16
TAOKAENOI FOOD & MARKETING PLC.
A BRIEF COMPANY HISTORYInsert some short and brief lorem ipsum explanatory text about Ztle here
4
2004
• Company established with paid-up capital 1 Mil Baht
ESTABLISHMENT
1 BILLION BAHT IN REVENUE
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
2 BILLION BAHT IN REVENUE
3.5 BILLION BAHT IN REVENUE
4.7 BILLION BAHT IN REVENUE
• Appointed Singapore as overseas distributor
1ST DISTRIBUTOR• Opened premium snack
shop for tourist channel
TAOKAENOI LAND• Movie based on true story
of the company & founder “Mr.Itthipat Peeradechapan”
THE BILLIONAIRE • Listed in Stock Exchange of
Thailand (SET)
• Construction of new factory (Rojana)
PUBLIC COMPANY
TAOKAENOI FOOD & MARKETING PLC.
OUR BOARD OF DIRECTOR
5
Chairman /
Independent Director
Yuth WorachattarnIndependent Director /
AC Chairman
Wanee TassanamontienIndependent Director /
NRC Chairman
Chaiyong RattanacharoensiriDirector
Somboon Prasitjutrakul
Director /
Chief Executive Officer
Itthipat PeeradechapanDirector /
Managing Director
Orrapat PeeradechapanDirector /
Managing Director
Nutchatpong PeeradechapanDirector /
Administrative Director
Porntera Rongkasiripan
TAOKAENOI FOOD & MARKETING PLC.
OUR MANAGEMENT
6
Chief Executive Officer /
Founder
Itthipat Peeradechapan Orrapat Peeradechapan Nutchatpong Peeradechapan Jirapong Suntipiromkul Boonchai KowpanichManaging Director :
International Markets
Managing Director :
Business Support
Chief Financial Officer
(CFO)
Chief Operating Officer
(COO)
TAOKAENOI FOOD & MARKETING PLC.
The Company is committed to developing healthy, tasty, and convenient products and build the brand recognition and awareness in the global market.
VISION :
The Company would like to see the culture of nutritious, health, tasty and convenient food consumption all over the world. The Company delivers such value to millions of people around the world by firstly fulfilling this gap from the seaweed business.
COMPANY VISION & MISSION
7
The Company aims to develop new innovative products and applies the-state-of-the-art technologies to the production.
The Company aims to create the brand awareness for capturing consumers’ attentions.
The Company will treat employees, business partners and consumers like a member of the family.
I
II
III
IV
MISSION :
PRESENTATION AGENDA
Company Overview
Financial Performance
Business Outlook
Q&A
TAOKAENOI FOOD & MARKETING PLC.
FINANCIAL HIGHLIGHTS
9
50100150200250
1Q/15 2Q/15 3Q/15 4Q/15 1Q/16 2Q/16 3Q/16 4Q/16 1Q/17 2Q/17
135172
234202
185161152
119
7551
• 2Q/17 Sales 1,212 Mil Baht
+8% YOY, +8% QOQ
• YOY Sales Growth TH 0%, IM +17%
• TH Market Share 66% (Jun)
• Sales Portion TH 41% : IM 59%
unit : Mil Baht
1H/2017 Sales +9% YOY
2,333 Mil Baht 1H/2017 Net Profit -11% YOY
306 Mil Baht (13.1%) • 2Q/17 Net Profit 135 Mil Baht (11.2%)
-27% YOY, -21% QOQ
TAOKAENOI FOOD & MARKETING PLC.
0
350
700
1050
1400
3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15 1Q/16 2Q/16 3Q/16 4Q/16 1Q/17 2Q/17
716665
848755
625557548577
404301
385
254
496456459506495461433431410396450410
Thailand Int Mkt
2Q/17 SALES PERFORMANCEInsert some short and brief lorem ipsum explanatory text about Ztle here
10
664
834696
815
1,008 981 1,0181,120 Growth YOY/QOQ
+15% YOY
+8% QOQ
Back on track +0% YOY
+9% QOQ
unit : Mil Baht1,307
1,261
1,1211,212
TAOKAENOI FOOD & MARKETING PLC.
SALES BY COUNTRYInsert some short and brief lorem ipsum explanatory text about Ztle here
11
7%
1%2%2%2%
2%3%
4%
China38%
Thailand41%
Thailand China Malaysia Hong KongIndonesia USA Taiwan VietnamSingapore Others
DOMESTIC SALES : 952 Mil B (+0% YOY)
• FMCG -5% YOY, Snack +5% YOY
• Seaweed Snack +7% YOY
• Domestic consumption +2% YOY
• Chinese tourist trend to rebound
• Marketing Campaign : Korean Boyband ‘GOT7’
EXPORT SALES : 1,381 Mil B (+17% YOY)
• High growth on China, Vietnam and USA
• Focus on China, Indonesia, and Vietnam
unit : %
TAOKAENOI FOOD & MARKETING PLC.
CHINA SALES PERFORMANCEInsert some short and brief lorem ipsum explanatory text about Ztle here
12
150300450600
1Q/15 2Q/15 3Q/15 4Q/15 1Q/16 2Q/16 3Q/16 4Q/16 1Q/17 2Q/17
429449536510
371344289283
17194
+16% YOY
-4% QOQ
unit : Mil Baht
1H/17 SALES : 879 Mil B (+23% YOY)
• 2 Distributors in Shanghai and Guangzhou
• Market Research on China Market (AC Nielsen)
• Marketing Spending for Long-term strategy
TAOKAENOI FOOD & MARKETING PLC.
SALES BY PRODUCT
13
6%
2%3%
Grilled SW41%
Crispy SW49%
Crispy SW Grilled SW Roasted SWTempura SW Others
375750
1,1251,500
1Q/15 2Q/15 3Q/15 4Q/15 1Q/16 2Q/16 3Q/16 4Q/16 1Q/17 2Q/17
474474527522
418371343376255
198 598549692629610568568571499422
Crispy Seaweed Grilled Seaweed Roasted Seaweed Tempura Seaweed
unit : Mil Baht
-2% YOY
+9% QOQ
+13% YOY
+0% QOQ
TAOKAENOI FOOD & MARKETING PLC.
COST STRUCTURE
14
Overhead7%
Labor Cost18%
Other Materials9%
Packaging23%
Seaweed43%
Cost Structure Ratio
Direct Material 75.5%
- Seaweed 43.2%
- Packaging 23.5%
- Other Materials 8.8%
Labor Cost 17.7%
Overhead 6.8%
• 1H/2017 Total Capacity 3,000 ton
• Utilization Rate 71 %
• 1H/17 Gross margin partially drop mainly from
Seaweed price increase
TAOKAENOI FOOD & MARKETING PLC.
0
0.04
0.08
0.12
0.16
0.2
0
50
100
150
200
250
3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15 1Q/16 2Q/16 3Q/16 4Q/16 1Q/17 2Q/17
Net Profit % Net Profit
11.2%
15.2%17.9%
16.0%16.5%15.8%15.5%
11.8%9.2%
7.4%
10.9%
6.2%135
171
234202
185161152
119
7551
91
41
6.2%
10.9%
7.4%9.2%
11.8%
15.5% 15.8% 16.5% 16.0%17.9%
15.2%
11.2%
PROFIT SUMMARY
15
unit : Mil Baht
Profit & Loss 2Q/17 1H/17Mil B % on Sales Mil B % on Sales
Gross Margin 384.5 31.7% 770.7 33.0% Selling Expenses 146.4 12.1% 271.8 11.7%
Administrative Expenses 60.5 5.0% 108.1 4.6%
Net Profit 135.3 11.2% 306.3 13.1%
TAOKAENOI FOOD & MARKETING PLC.
BALANCE SHEET
16
Separate Financial Statements Unit Jun 17 Dec 16 Change
A/R - local collecZon period Days 79 71 8
A/R - export collecZon period Days 15 13 2
Finished goods holding period Days 7 5 2
Inventory holding period Days 79 40 39
A/P payment period Days 30 34 (4)
DE RaZo Times 0.63 0.37 0.26
PRESENTATION AGENDA
Company Overview
Financial Performance
Business Outlook
Q&A
TAOKAENOI FOOD & MARKETING PLC.
TKN BUSINESS OUTLOOKInsert some short and brief lorem ipsum explanatory text about Ztle here
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Brand Story, Customer FocusBRAND BUILDING
Machine, Packaging, Seasoning House
TECHNOLOGY
China, Indonesia, CLMVDISTRIBUTION CHANNEL
Raw MaterialSUPPLY CHAIN
MEDIUM TERM PLAN :To be Global snack company, with target to reach 10 billion baht in annual sales and to have product on shelved in over 100 countries by Y2024
COMPETITIVE ADVANTAGE :
TAOKAENOI FOOD & MARKETING PLC.
3Q/17 HIGHLIGHTS
19
Sales
• New product launch : Taokaenoi Seasoned Laver
in China market, and Whey Protein ‘My Whey’
• New branch of Taokaenoi Land (9th) - Siam
Square (Bangkok)
Production
• Rojana Production Phase II - Grilled Seaweed
(capacity 2,000 tons) start from 3Q/17
Net Profit
• BOI : Corporate Income Tax 0% for Rojana factory
PRESENTATION AGENDA
Company Overview
Financial Performance
Business Outlook
Q&A
TAOKAENOI FOOD & MARKETING PLC.
Q&A
21
TAOKAENOI FOOD & MARKETING PLC.
CONTACT
22
• Address:
Taokaenoi Food & Marketing PLC.
337 Bond Street Road, Bangpood,
Pakkred, Nonthaburi 11120 Thailand
+66 2984 0666
• Investor Relations:
Koosoon Rattanaporn
+66 2984 0666 #315Disclaimer
The information contained here is being furnish on a confidential basis for discussion purposes only and only for the use of the recipient, and may be subject to completion or amendment through
the delivery of additional documentation. Except as otherwise provided herein, this document does not constitute an offer to sell or purchase any security of engage in any transaction. The
information contained herein has been obtained from sources that Taokaenoi Food & Marketing Public Company Limited (“TKN”) considers to be reliable; however, TKN makes no representation as
to, and accepts no responsibility or liability for, the accuracy or completeness of the information contained herein. Any projections, valuations and statistical analyses contained herein have been
provided to assist the recipient in the evaluation of the matters described herein; such projections, valuations and analyses may be based on subjective assessments and assumptions and may utilize
one among alternative methodologies that produce differing results; accordingly, such projections, valuations and statistical analyses are not to be viewed as facts and should not be relied upon as
an accurate representation of future events. The recipient should make an independent evaluation and judgement with respect to the matters contained herein.