Roadshow Presentation 29 November 2017 - listed company

Roadshow Presentation

29 November 2017

CONFIDENTIAL │ PAGE 1

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 any securities of Do Day Dream Public Company Limited (the “Company”) in Thailand, the United States or any

other jurisdiction. This presentation should not, nor should anything contained in it, form the basis of, or be relied upon in any connection with any

contract or commitment whatsoever. This presentation is confidential and is intended only for the exclusive use of the recipients thereof and may not

be reproduced (in whole or in part), retransmitted, summarized or distributed by them to any other persons without the Company’s prior written

permission.

This presentation may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements are based on certain

assumptions and expectations of future events. Actual future performance, outcomes and results may differ materially from those expressed in

forward-looking statements as a result of a number of risks, uncertainties and assumptions. Although the Company believes that such forward-

looking statements are based on reasonable assumptions, it can give no assurance that such expectations will be met.

Representative examples of factors that could affect the accuracy of forward-looking statements include (without limitation) fluctuations in in

regulations relating to the Company’s business, general economic, political and business conditions, global and regional health and security

conditions, the Company’s ability to finance and complete new projects on schedule, liability for remedial actions under environmental regulations

and other factors beyond the Company’s control. You are cautioned not to place undue reliance on these forward-looking statements, which are

based on current views of the Company’s management on future events.

This presentation has been prepared by the Company. The information in this presentation has not been independently verified. No representation,

warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the

information and opinions in this presentation. None of the Company or any of its directors, officers, employees, agents or advisers, or any of their

respective affiliates, advisers or representatives, undertake to update or revise any forward-looking statements, whether as a result of new

information, future events or otherwise and none of them shall have any liability (in negligence or otherwise) for any loss howsoever arising from any

use of this presentation or its contents or otherwise arising in connection with this presentation.

Although this document has been prepared based on the information contained in the updated draft Thai prospectus, which is currently under the

consideration of the Securities and Exchange Commission of Thailand (the “Thai SEC”), it has not been and will not be registered as a prospectus

with the Thai SEC and accordingly, this document may not be distributed, either directly or indirectly, to the public. Further, this document and any

materials distributed in connection with this document are not directed to, or intended for distribution to or use by, any person or entity that is a citizen

or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to

law or regulation or which would require any registration or licensing within such jurisdiction.

Any decision to purchase or subscribe for securities in the Company should be made solely on the basis of information contained in the prospectus

to be published in respect of the offering and no reliance should be placed on any information other than that contained in the prospectus.


Presenters

Dr.Sarawut Pornpatanarak (Founder, Chief Executive Officer,

Vice Chairman)

Mr. Piyawat Ratchapolsitte (Chief Financial Officer, Director)

Mr.Thiti Rattamany (Chief Strategy and Insight Officer)


Table of contents

1 Background and Business

2 Key Investment Highlights

3 Key Financial Performance

4 Offering Summary


Our Journey Since 2010 Has Seen Us Become a Leading Skincare

Company in Thailand

2010 - 2012

2013

2014

2015

2016

2017

Founded Do Day Dream PLC. to focus on OEM Business of skin care products with

registered and paid-up capital THB 1 mm at par value of THB 100 each

• Founded NAMU LIFE Brand and launched the first product called “SNAILWHITE SECRETION FILTRATE

MOISTURE FACIAL CREAM”

• Main distribution channel are online (Line, Facebook and Instagram) and traditional trade

• Launched 3 more products of NAMU LIFE SNAILWHITE and expanded into body care product

• Started to distribute Gift set which bundled several products of the Company for special occasions

• Expanded into modern trade and export to China, Hong Kong, Myanmar and Cambodia

• Increased share capital from THB 1 mm to THB 10 mm for business expansion

• Founded Namu Life Plus Co., Ltd to be the Company’s marketing arms.

• Launched 3 more products of NAMU LIFE SNAILWHITE and expanded into sunscreen and cleansing

products

• Invested in land with factory located in Rojana Industrial Park and started to renovate new plant

• Started to produce small size products (Sachet) selling through leading convenience stores

• Launched 4 more products of NAMU LIFE SNAILWHITE and expanded into body cleansing

• Started production in the new plant located in Rojana Industrial Park in October 2016

• Implemented SAP

• Increased share capital from THB 10 mm to THB 225 mm for business expansion

• Restructured shareholding of the Company to hold 100% of share in Namu Life Plus Co., Ltd

• Launched 8 more products of NAMU LIFE SNAILWHITE

• Investment from NHTPEC, a world-class private equity firm

• Transformed into a Public Company and increased share capital for IPO

• Founded Do Infinite Dream Co., Ltd to be IHQ for the Company’s international business

Key Milestone


Company Background, Vision and Business Goal

Do Day Dream PLC. is a fast growing skincare manufacturer and distributor in Bangkok, Thailand. Formed in 2010, Do Day Dream PLC. has

reached THB 1.2 bn sales in 2016, within 5 years, or just 3 years after the launch of NAMU LIFE SNAILWHITE. Our customers include retail

customers, local distributors and international distributors in several countries in Asia.

Company Overview

Vision

Mission

TO BE 1 OF TOP 3 MARKET LEADERS IN THE ASIAN BEAUTY INDUSTRY

WE CREATE HEALTHY SKIN FOR EVERYONE TO BE TRULY BEAUTIFUL IN THEIR OWN UNIQUE WAY

Core Value

Robust growth while always being adaptive Fresh and uniquely innovative Commitment to continuous improvement

for sustainability and stability

DYNAMIC DIFFERENT DEVELOP


Company Structure

Management Structure

Corporate

Strategy Commercial

Company

Secretary

Operation Finance,

Administration

& Support

CEO

Deputy CEO

(Excellence and

Sustainable

Development)

Internal Audit

Board of

Director

Audit

Committee

Nomination and

Remuneration

Committee

Risk

Management

Committee

Risk

Management

Parent and Subsidiary Co.

THAILAND

SINGAPORE

Incorporated in

Do Day

Dream

Trading

Do

Singapore

Dream

Do Day

Dream

Do Infinite

Dream

(IHQ)

Namu Life

Plus

100% 100%

100% 100%

Future Structure/1

Executive

Commitee

Distribution

product of the Company

International Headquarter

Trading company

in international market

Holding

company to

invest overseas

Note: /1 Future Structure expected to be established within 2017


Shareholding Structure

Pre IPO Post IPO

• On July 20, 2017, North Haven Thai Private Equity Clarity Company (HK) Limited, a private equity fund managed by Morgan Stanley, subscribed

to 15,000,000 newly-issued shares of the Company at 29.87 Baht/share or equivalent to proceeds of THB 448.05 mm

• Post-IPO, an additional 2.0 mm ESOP shares will be issued, of which 1.15 mm shares will be allocated to 5 key managements and the remaining to employees at a price determined by the independent appraiser at 28.42 Baht/share

Note: /1 Pornpatanarak Family comprise of 179,040,700 shares of Dr.Sarawut, 22,275,000 shares each of his 2 siblings, Mr. Saranon and Ms. Saranya /2 Management and employees includes 787,500 shares held by Mr.Rungroj Chaisirivikrom , 609,800 shares held by Ms.Punthida Meesutji and 12,000 shares held by Mr.Rittikrai Thammaraksa

Pornpatanarak Family/1

93.16%

North Haven Thai Private

Equity Clarity Company

(HK) Limited

6.25%

Management and employees/2

0.59%

North Haven Thai Private Equity

Clarity Company (HK) Limited

4.75%

Management and employees/2

0.44%

Pornpatanarak Family/1

70.76%

IPO

24.05%


Extensive Product Portfolio

Facial Skin Care Body Care Facial Cleansing

• Facial Cream

• SYN-AKE MIST

• Mask Shot

• Concentrate Facial Cream

• Miracle

• Royal Jelly Facial Cream

• Day Cream

• Overnight Firming Mask

• 7 Days Mask Sheets

• Gold Facial Cream

• Body Booster

• Body Booster

SPF 30/ PA+++

• Cleansing

• Whipp Soap

• Essential Toner

• Namu Facial Jelly Wash

Body Cleansing Sunscreen Giftset

• Sunscreen

• Sunscreen CC

• Crème Body Wash

Source: Company information

Number of New Products Launched /1

Note: /1 Excluding giftset /2 Company’s Financial Statement, BOL, for the year 2016

1 2 3 4 5 6

1 4 7 11 19 Total

Products

Est. 2010 1996 2000 1985 & 1976 1994

65.6%

36.7%

21.3%

5.0% 0.1%

Do Day Dream BeautyCommunity

Karmart Smooth E Oriental Princess& Cute Press

CAGR

(14-16)

THB mm 1,202 2,540 1,430 1,205 3,745

Skincare companies in Thailand (2016) /2

1

3 3 4

8

2013 2014 2015 2016 9M2017


Table of contents




4 Offering Summary


Our Investment Highlights

Strong Brand Identity Leading to Top-of-mind Brand Awareness

Efficient and Reliable Production Process

Extensive Distribution Network Coverage

Commitment to Creativity with a Proven Track Record of Product Innovation

Founded and Led by a Team of Young and Vibrant Individuals

Well-positioned to Take Advantage of the Strong Market Growth in Thailand and Abroad

1

2

3

4

5

6

Key Highlights Do Day Dream PLC.


NAMU LIFE distinctive identity makes the Company different from others.

The Company has articulated its product and marketing strategy to reflect

our philosophy of “Beauty is Healthy” to match with consumer trend.

“Beauty is Healthy”

Mass

Premium

Premium

Mass

NAMU LIFE is uniquely well-positioned as a premium mass brand which

allows it to capture both the mass and premium market demand.

Our superstar presenters strengthen NAMU LIFE recognition and

reliability.

Brand identity Brand position

Strong Brand Identity Leading to Top-of-mind Brand Awareness

1

Consumer confidence awards Cosmo Kiss Beauty Award 2015 “Best Facial Sheet

Mask” in 2015

Health, Wellness and Beauty Award 2016 (HWB

Award 2016) for best facial moisturizer and body

moisturizer for clear skin, and top selling brand

Praew Magazine ICONIC Whitening Facial Cleanser

Top 5 Cleanser from Marie Claire BEST Beauty 2016

OK! Beauty Choice 2016

Lisa Beauty Choice Award Editor’s Choice 2016

Cosmenet top review of in 2017

SME Excellence Award in Manufacturing Business

from TMA in 2017

Iconic Brightening Facial Sunscreen

Lisa Beauty Choice Award 2017

Cleo Beauty Hall of Fame 2017


State-of-the-art production facilities

• Started production in October 2016

• Location: 53 Moo 9, Rojana Road, Thanu Sub-district, U-thai District,

Ayutthaya Province 13210, Thailand

• Current Annual Capacity: 1,903.2 Million ml

• Land Area : 19 rai (9 rai used)

• Number of production workers : 214 workers (136 workers are

temporary) as of 30 Sep 2017

• Features in-house R&D to maximize efficiency in product research and

development

• High technology and environmental friendly production process

Production capacity

As at 30 Sep, 2017 High

Viscosity

Low

Viscosity Total

Utilization Rate 41.0 % 46.7 % 44.9 %

Mixing Capacity (9M17) 457.5 969.9 1,427.4

Actual Production (9M17) 187.4 452.9 640.3

Current Mixing Utilization Rate


Note: /1 Old plant capacity did not separate between high viscosity and low viscosity capacity

Our new plant at Rojana Industrial Park have approximately six

times higher annual capacity than our old plant

610 316.8

1,293.2

2016A 2017E

Mixing Capacity increased

Unit: Million ml.

0

200

400

600

800

1000

1200

1400

1 2 3 4

Chart Title

High Viscosity Low Viscosity

1,903.2

/1

Old

pla

nt

New

pla

nt

Efficient and Reliable Production Process

2



Key raw materials

/1

Our attention to product quality started since even before

the production process. We choose best-in-class

packaging and raw material to ensure customer

satisfaction. We source raw material from various suppliers

both domestically and internationally

Production process

Store Raw

Material

Mixing

High Viscosity Cream

Filling

Packing

Low Viscosity Cream

Company focuses on quality control in every stage of production. We

currently have ASEAN GMP certification and is in process to obtain

other internationally certified production processes including

ISO 9100, ISO 14001 and OHSAS 18001 by early 2018

Snail

Secretion

Filtrate

From various

source

Packaging

Innovative

and High

quality

packaging

QC

QC

QC

QC

and other Beneficial Natural Extract

Efficient and Reliable Production Process (Cont’d)

2


3

Extensive Distribution Network Coverage

Do Day Dream/

Namu Life

>13,000 Stores

Modern Trade

>1,300 Stores

Traditional Trade

Online Channels Export to China and other countries

2 NAMU LIFE shop

Pharmacy

Chain

Pan Asian

Distribution

China

Thailand Laos Cambodia Myanmar

New growth markets

Existing market stronghold

shop.namulife.com

9 Nationwide

Distribution Partners/1

1. BTS Siam Square 2. Show DC

Note: /1 Distributors that buy products from the Company and re-distribute in its territory across Thailand at prices and promotion assigned by the Company.

4 International Distributors

Sales by Do Day Dream / NAMU

Sales by Distributor



Commitment to Creativity with a Proven Track Record of Product

Innovation 4

• Strong track

record of

innovation and

creativity

• Dedicated

research and

development

team

• Using

breakthrough

technology to

enhance

product

performance

and features as

a key

competitive

advantage

NAMU LIFE

SNAILWHITE

Maskshot

Natural fiber mask

weaving in water

20 innovative products covering wide range

of effective skin whitening usage

Facial Cream

Package

Hygienic package

with vacuum

pump

NAMU LIFE

SNAILWHITE

Crème Body Wash

Body wash in

lotion like form

with unique

ingredients

NAMU LIFE

SNAILWHITE

Whipp Soap

Facial wash soap

packed in mesh

package

Example of some innovative products

Proven track record of product innovation


BODYWASH CLEANSING MIST MASK CREAM SUNSCREEN BODYBOOSTER

Anti-Counterfeit

Sticker

QR code sticker

to check for

genuine product

Facial Cleansing

Package

Water Proof Bottle

Cap


Founded and Led by a Team of Dynamic and Vibrant Individuals

Do Day Dream’s directors and executives comprise experienced professionals and new generation executives with knowledge, passion and

creativity. These make the Company adaptable and able to identify and capture business opportunities under rapidly changing environment

Independent Directors

Current and Past Experience

• Member of National Legislative Assembly of Thailand

• Former Permanent Secretary of Justice Ministry

• Former Director-General of DSI (Department of Special Investigation)

Police General Chatchawal Suksomjit (Chairman of Board of Director, Independent Director)

Current and Past Experiences

• Former chairman of Audit Committee of Thoresen Thai Agencies PCL.

• Former Assistant Governor of Bank of Thailand

Mr.Krish Follet (Independent Director, Chairman of Audit Committee)


• Senior Executive Vice President, Krung Thai Bank PCL.

• Executive Vice President, World Business Division, Kasikorn Bank PCL.

Executive Vice President, International Business, Kasikorn Bank PCL.

Mr.Songpol Chevapanyaroj (Independent Director, Audit Committee)


• President and Director of Muang Thai Insurance PCL.

Mrs.Nuanphan Lamsam (Independent Director)


• Vice President, Natural Gas Products Distribution, PTT PCL.

Mr.Nattawoot Krerpradab (Independent Director, Audit Committee)

5


Founded and Led by a Team of Dynamic and Vibrant Individuals

(Cont’d)

5

Do Day Dream’s directors and executives comprise experienced professionals and new generation executives with knowledge, passion and

creativity. These make the Company adaptable and able to identify and capture business opportunities under rapidly changing environment

Directors and Executives

Experience • Project Manager, Prospect (Thailand) Co., Ltd • Project Manager, Advanced Research Group

Co., Ltd • International Roaming Analyst, Advanced Info

Services Plc

Mr.Suphawat Vanichprapha (Deputy Chief Executive Officer, Director)

Experience • Fashion Merchandiser Marketing & Buyer

Department, Central Marketing Group Co.,Ltd • Assistant Store Manager of American Appeal

Ms.Saowakon Yamcharoen (Deputy Chief Executive Officer, Director)

Experience • Vice President of Customer & Market Insight, The

Siam Commercial Bank Pcl • Customer Engagement Director, Hypertrade

Consulting Co., Ltd • Head of Insight, Ek-Chai Distribution System Co.,

Ltd

Mr.Thiti Rattamany (Chief Strategy and Insight Officer)

Experience • Executive Vice President of Media and

Advertising Planning,Vizeum (Thailand) Co., Ltd • Media and Advertising Planning Manager, Carat

(Thailand) Co., Ltd

Mr.Rittikrai Thammaraksa (Deputy Chief Executive Officer, Director)

Experience • General Sales Manager, Siam Regal Co., Ltd • National Sales Manager (Traditional Trade

Channel), Mondelez (Thailand) Co., Ltd • Head of Sales (Traditional Trade Channel),

Reckitt Benckiser (Thailand) Co., Ltd

Mr.Rungroj Chaisirivikrom (Director)

Experience • Director of Colour Trend Co., Ltd • Director of OverDrive (Thailand) Co., Ltd • Director and President of PM Chemical Co., Ltd

Dr.Sarawut Pornpatanarak (Founder, Chief Executive Officer, Chief Operating Officer (acting), Vice Chairman)

Experience • Graphic Supervisor, BEC-Tero radio Co., Ltd • Graphic Designer, SKY-HIGH network Co., Ltd

Mr.Nitiroj Manolamai (Deputy Chief Executive Officer, Director)

Experience • Deputy Managing Director, Private Equity,

Richardson Doyle & Partners • ASEAN Business Group Manager, Kasikornbank

Pcl • Assistant Manager, Investment Banking, MayBank

KIM ENG Securities (Thailand) Plc

Mr.Piyawat Ratchapolsitte (Chief Financial Officer, Director)

Ms.Kornthong Chakornsirisakul (Chief Commercial Officer)

Experience • Chief Commercial Officer, Damco Logistics

(Thailand) Co., Ltd • Cluster Operations Manager, Maersk Lind

(Thailand) Co., Ltd • Safmarine Country Manager, Bangkok Marine

Co., Ltd


Well-positioned to Take Advantage of the Strong Market Growth

in Thailand and Abroad 6

Expansion Roadmap Strong Market Growth Outlook

Strong economic

growth lading to

consumers

health-awareness

trend and

premiumization

Developed online

channel improve

accessibility to

cosmetic product

Ranked among

the top 10 fast-

growing business

of 20161

Demographic

changing towards

aging population

reassure

demands for

personal care

products2

Business Expansion

Do Day Dream PLC.

International

China Others

Domestic

Current Products New Brand New Product

• Launch and market more re-sized versions of current products into the existing sales channels

• Increase more store sales network across Thailand

• Improve online retail to maximize outreach to Thai customers

• Launch and market innovative products or to focus on untapped segment (eg. anti-aging, for men)

• new brand to target new segment (eg. Mass or premium brand)

• Focus on expanding distributorship in China

• Setting up online stores on more platform

• Expanding offline distribution channels

• Explore opportunities in other countries

• Look for the right local partner who can contributes to production, distribution, and overall operations

Source: /1 Center for Economic and Business Forecasting, University of Thai Chamber of Commerce /2 United Nations

Increasing

number of tourist


Table of contents




4 Offering Summary


Key Financial Metrics

Note: /1 Calculated based on sales before discount amounting to THB 438 mm, THB 1,293 mm, THB 1,283 mm in 2014, 2016 and 9M2017, respectively /2 Others product group comprises of giftset, selling of packaging to related company, food supplement and OEM business /3 Distribution partner mainly distribute to traditional trade /4 Others comprise of sale from welfare of employee and retail customer who purchased lower than THB 100,000 /year


Sales (THB mm)

The Company has diversified away from Facial skin care products as they continuously introduced new and innovative products. The Company also shown

balanced sales by distribution channels among modern trade, traditional trade and export. In addition, consignment sales has significantly decreased with

only sales through Watson, EVEANDBOY, Central and Robinson remain as consignment sales

Pro

du

ct

Gro

up

/1

Dis

trib

uti

on

Ch

an

ne

ls/1

2014 2016 9M2017

Traditional Trade Modern Trade Distribution Partner/3 Export Others/4

Body Care Facial Skin Care Facial Cleansing Body Cleansing Sunscreen Others/2

438

955

1,202

985

1,256

0

200

400

600

800

1000

1200

1400

2014 2015 2016 9M2016 9M2017

0.9%

19.1%

29.7%

27.3%

23.1%

11.3%

30.0%

11.8%

46.6%

0.3%

35.7%

28.4%

3.9%

31.3%

0.6%

92.5%

3.2%

4.3%

83.1%

2.8%

4.3%

3.8%

4.6% 0.8%

77.7%

3.2%

3.1%

4.7%

3.9%

7.4%


223

318 344

264

342

10

6

1

-

1

10

18

16

25

37

1

3 9

5

11

4

4

5

3

6

56.7%

36.4% 31.2% 30.2% 31.6%

-250.0%

-200.0%

-150.0%

-100.0%

-50.0%

0.0%

50.0%

-

50

100

150

200

250

300

350

400

450

500

2014 2015 2016 9M2016 9M2017

Raw material and Packaging Freight Labor Depreciation Others % of sales

Cost of Good Sold


(THB mm)

COGS to sales significantly decreased from 2014 thanks to economies of scale and better bargaining power with the suppliers which result in lower average

cost of raw material and packaging

Note: /1 Others comprise mainly of utility expenses

Significant portion of COGS

attributable to raw materials and

packaging

2014 - 2016 total COGS increased by

approximately 22.9% CAGR in the last

three years in accordance with sales

2014 - 2016 COGS as a % of sales

continuous drop due to ability to

negotiate with key suppliers resulting

in lower average cost together with

economies of scale and more efficient

production.

9M17 y-o-y COGS increased 33.6%

primarily as sales revenue increased

However, 9M17 COGS as a % of sales

slightly increase due to expanding

sales of body wash product, a product

in a highly competitive segment

/1

248

347

375

298

398


Selling & Administrative Expenses

Note: /1 Others comprise mainly of depreciation and amortization expenses, rental, miscellaneous expenses , tax and other services and other selling and administrative expenses


(THB mm)

Selling & Administrative Expense has shown significant increase correlated with increase in sales activity. The increased was mainly attributable by

advertising and promotional expenses and employee cost

Selling and administrative expenses

mainly comprise advertising and

promotional expenses and employee

expenses

2014 - 2016 total selling and

administrative expenses increased by

62.0% CAGR due to heavy spending

on advertising to promote products as

well as additional management and

employee expenses to support

business expansion

Advertising and promotional expenses

slightly dropped in 2016 due to lower

advertising activity in 4Q2016

9M17 y-o-y advertising and

promotional expense increased 57.3%

as Company spent heavily to promote

new product launched during nine

months of the year

/1

136

284 275 246

387

3

25 71

49

88

9

30

7

5

12

7

22

53

35

59

35.3% 37.8%

33.8%

34.0% 43.4%

-200.0%

-150.0%

-100.0%

-50.0%

0.0%

0

100

200

300

400

500

600

2014 2015 2016 9M2016 9M2017

Advertising and promotional Employee costs Freight Others % of sales

155

361

406

335

545


Profitability


The Company has shown strong profitability growth over the past few years driven by strong brand awareness and innovative product launches. In 9M2017,

gross margin remained relatively constant, while EBITDA margin and net margin softened from the increased promotion selling expenses for our new

products launched over the year 2017

Gross profit (THB mm) and margin (%) Net profit (THB mm) and margin (%) EBITDA (THB mm) and margin (%)

28

194

335

279

254

6.3%

20.3%

27.8%

28.3%

20.1%

0.0%

10.0%

20.0%

30.0%

0

100

200

300

400

2014 2015 2016 9M2016 9M2017

Net Profit Net Profit Margin

37

254

441

367

340

8.4%

26.6%

36.6% 37.2%

26.9%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

0

50

100

150

200

250

300

350

400

450

500

2014 2015 2016 9M2016 9M2017

EBITDA EBITDA Margin

190

608

827

687

859

43.3%

63.6%

68.8% 69.8%

68.4%

0.0%

20.0%

40.0%

60.0%

80.0%

0

200

400

600

800

1000

2014 2015 2016 9M2016 9M2017

Gross Profit Gross Margin


Financial Position

Balance Sheet (THB mm)


2014 2015 2016 9M2017

Days Sales Outstanding (days) 23 46 54 63

Days Inventories on Hand (FG) (days) 23 29 40 39

Days Payable Outstanding (days) 40 56 80 88

Return on Assets (%) 19.9% 49.8% 51.4% 30.5%

Return on Equity (%) 92.8% 133.5% 108.6% 55.5%

Debt to Equity Ratio (times) 4.2x 1.2x 1.1x 0.7x

Interest Bearing Debt to Equity Ratio (times) 1.8x 0.5x 0.4x 0.4x

Key Financial Ratio

251

529

776

1,441

203 286

401

599

48

243

375

842

-

400

800

1,200

1,600

2014 2015 2016 9M2017

Total Assets Total Liabilities Shareholders' Equity

Total assets increased mainly from the

renovation of new factory and increase

in inventories from raw material and

packaging purchased at the end of

2016

Total assets increased mainly

due to increase in account

receivable and cash and cash

equivalent

Total liabilities increased

mainly due to short-term loan

from financial institution for

working capital and account

payable

Total assets increased mainly due to

increase in account receivable from

sales activity and increase in PPE

from purchase of new factory

Total liabilities increased

mainly due to loan to

finance new factory


Key Financial Strategies


Capital Structure

Risk Management

Dividend Policy

• Do Day Dream will maintain an appropriate debt to equity ratio to optimize capital

structure

• Current D/E and IBD/E is at 0.7x and 0.4x, respectively. However, the IPO proceed

would increase our equity base and thus expand debt room for future growth

opportunities

• The Company has dividend payout policy of at least 50% of the net profit under

standalone financial statements

• Our subsidiary has dividend payout policy of at least 50% of the net profit under

standalone financial statements

• In 2016 and 9M2017, 46.2% and 38.4% of the Company’s total raw material purchased

are made in USD

• The Company hedge foreign exchange rate risk by entered into forward contract for

hedging approximately 70% of USD purchased value

• Our insurance made cover damage incur approximately THB 1,049 mm which cover

our total fixed asset value


Table of contents




4 Offering Summary


Offering Summary

Do Day Dream Public Company Limited

SET / Consumer Products / Personal Products & Pharmaceuticals

Issuer

Market / Industry /

Sector

1) Business Expansion,

• Expansion of factory and warehouse

• Expansion of distribution channel and distribution center

• Renovation of office and related network

• Improvement of research and development facilities

2) Working Capital

Use of Proceeds

Up to 76,000,000 newly issued shares (24.05% Post-IPO) Offering Size

Financial Advisor and

Lead Underwriter

DDD Ticker

Roadshow Presentation 29 November 2017 - listed company

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