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1 PREMIER MARKETING PUBLIC CO.,LTD. Opportunity Day 27 March 2013 PREMIER MARKETING PUBLIC CO.,LTD. Agenda • COMPANY OVERVIEW (ธุรกิจในภาพรวม) • INDUSTRY OVERVIEW (อุตสาหกรรมขนมขบเคีย้ ว) • OPERATION HIGHLIGHTS (ภาพรวมการดาเนินงาน) • DIRECTION FOR BUSINESS GROWTH (แนวทางการดาเนินธุรกิจในอนาคต) PREMIER MARKETING PUBLIC CO.,LTD. Company Structure Premier Marketing Public Co., Ltd. (“PM”) 100% P.M. Food Co., Ltd. (“PMF”) PREMIER MARKETING PUBLIC CO.,LTD. 100% Premier Canning Industry Co., Ltd. (“PCI”) 100% Premier Frozen Products Co., Ltd. (“PFP”) Subsidiaries Profile All 3 subsidiaries are food manufacturers PMF • Brand owner and manufacturer of fish snack “ TARO ” and fried Korean Seaweed “Biggu” . • PM is responsible for all marketing activities. • Major raw materials are Surimi (minced fish meat), Seaweed and packaging. PCI • • • • • • PFP Manufacturer of tuna products and “King’s Kitchen” sauces. Tuna products are for human consumption and pet foods. All are exported directly to clients. Approximately 50% of tuna is sold to Nichimo, a leading Japanese trading firm “ King’s Kitchen ” sauces are sold to PM with cost plus pricing. PM is responsible for all marketing activities. • Manufacturer of frozen products and Value Added Product (VAP), i.e. pizza topping (Tomyam PREMIER MARKETING PUBLIC CO.,LTD. Seafood), duck meat ball, fish meat ball, soup, Tomyam soup, NumLeab fried rice, and taro fried rice and provider of rental spaces of cold storage facilities. All products are domestically sold. Distribution Business Premier Marketing PCL Snacks Confectionery PREMIER MARKETING PUBLIC CO.,LTD. Food Lozenge and Nutrient foods Personal Care & Household Product Distribution Business Snack PREMIER MARKETING PUBLIC CO.,LTD. • • • • • • • • Fish snack - Taro Prawn cracker - Calbee Crispy green peas - Bun Bun Potato stick - Jaxx Rice cracker - Shin Mai Extruded snack – Cocori, Otori Fruity Chewy – Jeed Jard Fried Korean Seaweed - Biggu Distribution Business • Candy – Ole Confectionery PREMIER MARKETING PUBLIC CO.,LTD. • Ole - Beauty • Ole – Winky Eye • Semi-Medicated candy - Coryfin-C Distribution Business Food • Tomato and chilli sauces - King’s Kitchen • • • • • • Canned pickled fruit and vegetable - Mae Jin, J.F. Farm, “LCC” Instant coffee - Bodyshape Bean Thread , Vinegar ,Nut and Bean Product Line - Kaset Cookies – Delio Ready to Eat Frozen Food – Prantalay Fish Sauce, Soy Sauce, Oyster Sauce - Megachef PREMIER MARKETING PUBLIC CO.,LTD. Distribution Business Lozenge and Nutrient foods PREMIER MARKETING PUBLIC CO.,LTD. • Breath freshener - Botan , Botan Mint Ball • Supplement - Banner Protien • Medical product – Utaitip , Yatard 4 , Paracet etc. Distribution Business Personal Care & Household Product PREMIER MARKETING PUBLIC CO.,LTD. • Toothpaste - Darlie • Medicated Plaster - Tensoplast,Tiger plast • Japanese Hair Care Products - Bigen Distribution Channels Nationwide Outlets • Direct distribution to more than 30,000 outlets throughout the nation covering both modern trade retailers and traditional channels • In 2012, Bangkok metropolitan and suburb areas represented 68.2% of PM sales and 31.8 % for upcountry Distribution Channels 1. Modern Trade Supermarket, Hypermarket, Convenience store, and Gas station store by delivering to clients’ Distribution Centers 2. Traditional Trade Wholesalers and Local Supermarkets Up-country 31.8 % Bangkok Metropolitan 68.2 % PREMIER MARKETING PUBLIC CO.,LTD. 3. Cash Van Direct visits to small retail shops, orders are taken and goods delivered from company sales van Agenda • COMPANY OVERVIEW (ธุรกิจในภาพรวม) • INDUSTRY OVERVIEW (อุตสาหกรรมขนมขบเคีย้ ว) • OPERATION HIGHLIGHTS (ภาพรวมการดาเนินงาน) • DIRECTION FOR BUSINESS GROWTH (แนวทางการดาเนินธุรกิจในอนาคต) PREMIER MARKETING PUBLIC CO.,LTD. Snack Industry Average growth rate of 11% during 2009-2011. Market size grew at 9% in 2012 and it is estimated to grow at 10% in 2013. Snack Industry 30000 28000 26000 24000 22000 20000 18000 16000 14000 12000 10000 8000 6000 4000 2000 0 10% 13% 9% 18,920 2009 Extruded Source: ACNielson as of Dec’12 Potato Chip 9% 25,534 20,601 2010 Fish Snack 2013 is estimated by the company PREMIER MARKETING PUBLIC CO.,LTD. PREMIER MARKETING PUBLIC CO.,LTD. 23,326 28,100 2011 Peanut Prawn Cracker 2012E Rice Craker 2013E Cuttle Fish Popcorn Shares of Fish Snack Industry Taro is always ranked no. 1 in fish snack segment. In 2012, fish snack segment was ranked fourth (8%) among the snack business and forecasted to be ฿2,314 M. in 2013. other categories with key players are shown below. Fish Snack Industry Key Players • Extrude Million Baht 2500 2000 1,656 1,709 1,922 2,314 Cornae (11.1%),Sunbite (9.8 %), Tawan (6.9%), Snack Jack (4.8%), Paprika (5.2%),Roller Coaster (4.6%) Jaxx (6%), Twistie (3.2%) • Potato Chip Lays (72.2%), Testo (14.6%) , Pringles (5.8%) 1500 • Fish Snack Taro (75.1%), Fisho (9.3%), Bento (7.4%) 1000 • Peanut 500 Kohkae (38.4%), Tong Garden (32.2%), Double Pagoda (8%) 0 2010 2011 2012 2013E • Prawn Cracker Hanami (59.3%), Calbee (9.6%), Manora (5.9%) • Rice Cracker Dozo (78.2%), Shinmai (12.7%) Source: ACNielson as of Dec’ 12 2013 is estimated by the company PREMIER MARKETING MARKETING PUBLIC PUBLIC CO.,LTD. CO.,LTD. PREMIER Shares of Fish Snack (Top 3) % MKT Share to Fish Snack Industry 80% 72.4 % 71.3 % 73.7 % 75.1 % 70% 60% 50% 40% 30% 20% 13.4 % 11.7 % 11.1 % 9.7 % 6.5 % 6.9 % 7.4 % 10% 4.9 % 0% 2 2 Taro PREMIER MARKETING PUBLIC CO.,LTD. Fisho 2 Bento Fish Snack 2 2 Agenda • COMPANY OVERVIEW (ธุรกิจในภาพรวม) • INDUSTRY OVERVIEW (อุตสาหกรรมขนมขบเคีย้ ว) • OPERATION HIGHLIGHTS (ภาพรวมการดาเนินงาน) • DIRECTION FOR BUSINESS GROWTH (แนวทางการดาเนินธุรกิจในอนาคต) PREMIER MARKETING PUBLIC CO.,LTD. KEY HIGHLIGHTS 2012 • Increased of 17% in total reveue, 28% in operating profit and 42% in net profit vs Jan.- Dec. 2011 PREMIER MARKETING PUBLIC CO.,LTD. The Company received the “Best Company Performance Award” for companies with market capitalization of 10,000 million Baht or less: 2 nd group and the “Outstanding CEO Award” from the SET Award 2012 organized by the Stock Exchange of Thailand in November 2012 PREMIER MARKETING PUBLIC CO.,LTD. Revenue By Business Segment Total Revenue Growth 17% Million Baht 4,000 13% 3,500 ฿1,028 3,000 2,500 Manufacture ฿849 of Food ฿763 Products 2,000 1,500 2,160 2,488 2,854 Distribution Distribution of of Distribution of Consumer Consumer Consumer Products Products Products 1,000 500 2010 2011 2012 Distribution of Consumer Products Manufacture of Food Rental and Service Others Million Baht Distribution of Consumer Products Manufacture of Food Rental and Service Others Total Revenue PREMIER MARKETING PUBLIC CO.,LTD. 2012 Total Revenues = 3,925 Million Baht 2010 2011 2012 2,160 763 10 34 2,967 2,488 849 7 20 3,364 2,854 1,028 3 40 3,925 Operating Profit and Net Income Million Baht OP Growth at 28% 600 518 In 2012, NI Growth at 42% 500 404 400 300 409 285 287 200 216 100 2010 2011 Operating Profit 2012 Net Incom e Million Baht 2010 2011 2012 Operating Profit 285 404 518 % to Revenue from Sales and Sevices 9.7% 12.1% 13.3% 216 287 409 7.4% 8.6% 10.5% Net Income % to Revenue from Sales and Sevices PREMIER MARKETING PUBLIC CO.,LTD. Other Key Financial Highlights Million Baht Assets Liabilities Equity Key Ratios 2011 2012 1,784 2,030 697 690 1,087 1,340 2011 2012 Gross Profit Margin % 27.6 27.4 SG&A as % of Sales 16.1 15.1 EBITDA Margin % 13.0 14.2 ROA (%) 24.3 27.2 ROE (%) 27.1 33.7 1.8 2.2 EPS (Baht) 0.48 0.68 DPS (Baht) 0.24 0.37 * P/E Ratio 5.63 10.8 D/E Ratio 0.64 0.52 BVPS (Baht) Most of key financial ratios are favorable vs. Last Year * On February 21, 2013 the BoDs’ resolution of the distribution of dividend for 2012 at 0.25 baht per share plus interim dividend payment of baht 0.12 per share on September 10, 2012, total dividend for 2012 was 0.37 per share PREMIER MARKETING PUBLIC CO.,LTD. Agenda • COMPANY OVERVIEW (ธุรกิจในภาพรวม) • INDUSTRY OVERVIEW (อุตสาหกรรมขนมขบเคีย้ ว) • OPERATION HIGHLIGHTS (ภาพรวมการดาเนินงาน) • DIRECTION FOR BUSINESS GROWTH (แนวทางการดาเนินธุรกิจในอนาคต) PREMIER MARKETING PUBLIC CO.,LTD. The Premier Value Harmonious Alignment of Success We take a holistic approach to business management because we believe that all facets of the society are inter-related and are integral parts of one another. Premier Group of Companies thrives to achieve a balance between business, people and society at large. PREMIER MARKETING PUBLIC CO.,LTD. ส่ งมอบคุณค่ าอย่ างมีคุณภาพ คู่ค้า ร้ านค้ า (Trade Partner) ผู้บริโภค (Consumer) PREMIER MARKETING PUBLIC CO.,LTD. Customer/ Dealer บมจ. พรีเมียร์ มาร์ เก็ตติง้ (Premier Marketing PCL) สั งคม (Community) แนวทางการดาเนินงานในอนาคต 1. การเติบโตจากฐานธุรกิจในปั จจุบัน ทัง้ สินค้ ากลุ่ม snack, food และ non-food (Growth from existing business portfolio, including snack, food and non-food) 2. การพัฒนาธุรกิจร่ วมกับคู่ค้าใหม่ บนฐาน ความเข้ มแข็งของระบบการจัดจาหน่ ายที่มีอยู่ (Cooperation with new trade partners in developing new product lines utilizing company’s well established distribution system) PREMIER MARKETING PUBLIC CO.,LTD. แนวทางการดาเนินงานในอนาคต 3. การเปิ ดตลาดใหม่ จากสินค้ าที่มีอยู่ใน ปั จจุบัน โดยเฉพาะอย่ างยิ่งตลาดใน ภูมิภาค ASEAN (Market expansion of existing product portfolio to ASEAN and other countries) 4. การพัฒนาสินค้ าใหม่ ๆ ทัง้ จากภายใน หรือ ร่ วมกับพันธมิตรและผ่ านการร่ วมทุน (New product developing both internally and externally through joint venture with outside business partners) PREMIER MARKETING PUBLIC CO.,LTD. Q&A Discussion PREMIER MARKETING PUBLIC CO.,LTD.