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Malee Group Public Company Limited
Q22016 Opportunity Day
17 August 2016
Disclaimers
1
The information contained herein is intended to represent the Companyrsquos operating
and financial position at a given point in time and may also contain forward looking
information which only reflects expectations based on the prevailing geo-political
economic and non-controllable factors Such information has been obtained from
sources believed to be most reliable and the means in analyzing and preparation of
such information for disclosure are based on approve practices and principles in the
investment industry The views are based on assumption subject to various risks and
uncertainties and no assurance is made as to whether such future events will occur
No assurance is made as to the accuracy or completeness of information presented
in this document
Agenda
2
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Stock Symbol MALEE
Industry and Sector Agro amp Food Industry Food and
Beverage
No of Listed Shares 140000000 Shares
Registered Capital THB 140000000
Paid-up Capital THB 140000000
Par Value THB 1 per Share
Listing Date 13 March 1992
Foreign Limit 49 (available 45)
Dividend Policy Not less than 50 of the net profit from
normal operation according to
consolidated financial statement after
deduction of tax revenue and legal reserve
Market Capitalization 9940MB or 285MUSD
Free Float 4777
Group Structure
3
Group Structure
Malee Group PclldquoManufacturing and Exportrdquo
Malee Enterprise Co Ltd
(MEC) ldquoDomestic Sale and Marketingrdquo
Share Information (As of 11 August 2016)
Abico Holdings
Pcl264
Kamolchat Jeungrung
reungkit186
Thai NVDR131
Others419
A leading manufacturer and distributor of canned fruits fruit juices amp beverages in Thailand
Agri Sol Co Ltd
(AGR)ldquoDormantrdquo
Malee Harvest Co Ltd
(MHC)ldquoAgro Businessrdquo
Monde Malee Beverage
Corp (MMBC) ldquoBeverage Business in Philippinesrdquo
Lanchang Farm Co Ltd
(LCF)ldquoHydroponic Farmrdquo
100100
70
49100
Shareholding Structure (As at 04 May 2016)
Milestones
4
2013
1978
1981
1992
bull On 26 September 1996 MALEE increased
its capital from 250MB to 500MB
1995
bull On 9 April 2013 MALEE decreased
its registered capital to 182MB with
paid-up capital of 140MB 2014
2016
bull On 2 February 1978 Malee Sampran
Factory Co Ltd was established with capital
of 10MB as a manufacturer and distributor of
canned food and canned fruits
bull On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998
1996
bull MALEE decreased its registered capital to
140MB with paid-up capital of 140MB
bull In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up the joint venture
company in the Philippines called Monde Malee
Beverage Corporation (MMBC)
bull The Company expanded production base on the land of 30
rais in Sampran District Nakhon Pathom Province
bull In April 1995 Abico Holding Pcl
acquired 40 or 10 million shares of
250MB from the existing shareholders
bull On 15 May 1998 the Company changed its
name to Malee Sampran Pcl
bull On 12 May 2016 the Company changed its name
to Malee Group Pcl
bull On 9 Dec 1998 MALEE increased its capital to
99999MB with paid-up capital of 700MB
13021600 1682 1537
1931 2140
23572615 2706 2861
1525
2797 2405 2021
1546 898
1510
17371603
2065
2567
1768
2062
869
25 (93)(295)
131 106228
646283 307 331
252
-1000
0
1000
2000
3000
4000
5000
6000
7000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 6M2016
Unit Million Baht
CMG Brand Net Profit
10-Yr Historical Performance
5
FloodImpact
1st half
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
HealtiPlus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
Non - Malee
Fruit amp Dessert
Diary Product
Other Beverages
Fruit amp Dessert Snack amp Dessert
First Choice Farmer Leros
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Disclaimers
1
The information contained herein is intended to represent the Companyrsquos operating
and financial position at a given point in time and may also contain forward looking
information which only reflects expectations based on the prevailing geo-political
economic and non-controllable factors Such information has been obtained from
sources believed to be most reliable and the means in analyzing and preparation of
such information for disclosure are based on approve practices and principles in the
investment industry The views are based on assumption subject to various risks and
uncertainties and no assurance is made as to whether such future events will occur
No assurance is made as to the accuracy or completeness of information presented
in this document
Agenda
2
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Stock Symbol MALEE
Industry and Sector Agro amp Food Industry Food and
Beverage
No of Listed Shares 140000000 Shares
Registered Capital THB 140000000
Paid-up Capital THB 140000000
Par Value THB 1 per Share
Listing Date 13 March 1992
Foreign Limit 49 (available 45)
Dividend Policy Not less than 50 of the net profit from
normal operation according to
consolidated financial statement after
deduction of tax revenue and legal reserve
Market Capitalization 9940MB or 285MUSD
Free Float 4777
Group Structure
3
Group Structure
Malee Group PclldquoManufacturing and Exportrdquo
Malee Enterprise Co Ltd
(MEC) ldquoDomestic Sale and Marketingrdquo
Share Information (As of 11 August 2016)
Abico Holdings
Pcl264
Kamolchat Jeungrung
reungkit186
Thai NVDR131
Others419
A leading manufacturer and distributor of canned fruits fruit juices amp beverages in Thailand
Agri Sol Co Ltd
(AGR)ldquoDormantrdquo
Malee Harvest Co Ltd
(MHC)ldquoAgro Businessrdquo
Monde Malee Beverage
Corp (MMBC) ldquoBeverage Business in Philippinesrdquo
Lanchang Farm Co Ltd
(LCF)ldquoHydroponic Farmrdquo
100100
70
49100
Shareholding Structure (As at 04 May 2016)
Milestones
4
2013
1978
1981
1992
bull On 26 September 1996 MALEE increased
its capital from 250MB to 500MB
1995
bull On 9 April 2013 MALEE decreased
its registered capital to 182MB with
paid-up capital of 140MB 2014
2016
bull On 2 February 1978 Malee Sampran
Factory Co Ltd was established with capital
of 10MB as a manufacturer and distributor of
canned food and canned fruits
bull On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998
1996
bull MALEE decreased its registered capital to
140MB with paid-up capital of 140MB
bull In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up the joint venture
company in the Philippines called Monde Malee
Beverage Corporation (MMBC)
bull The Company expanded production base on the land of 30
rais in Sampran District Nakhon Pathom Province
bull In April 1995 Abico Holding Pcl
acquired 40 or 10 million shares of
250MB from the existing shareholders
bull On 15 May 1998 the Company changed its
name to Malee Sampran Pcl
bull On 12 May 2016 the Company changed its name
to Malee Group Pcl
bull On 9 Dec 1998 MALEE increased its capital to
99999MB with paid-up capital of 700MB
13021600 1682 1537
1931 2140
23572615 2706 2861
1525
2797 2405 2021
1546 898
1510
17371603
2065
2567
1768
2062
869
25 (93)(295)
131 106228
646283 307 331
252
-1000
0
1000
2000
3000
4000
5000
6000
7000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 6M2016
Unit Million Baht
CMG Brand Net Profit
10-Yr Historical Performance
5
FloodImpact
1st half
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
HealtiPlus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
Non - Malee
Fruit amp Dessert
Diary Product
Other Beverages
Fruit amp Dessert Snack amp Dessert
First Choice Farmer Leros
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Agenda
2
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Stock Symbol MALEE
Industry and Sector Agro amp Food Industry Food and
Beverage
No of Listed Shares 140000000 Shares
Registered Capital THB 140000000
Paid-up Capital THB 140000000
Par Value THB 1 per Share
Listing Date 13 March 1992
Foreign Limit 49 (available 45)
Dividend Policy Not less than 50 of the net profit from
normal operation according to
consolidated financial statement after
deduction of tax revenue and legal reserve
Market Capitalization 9940MB or 285MUSD
Free Float 4777
Group Structure
3
Group Structure
Malee Group PclldquoManufacturing and Exportrdquo
Malee Enterprise Co Ltd
(MEC) ldquoDomestic Sale and Marketingrdquo
Share Information (As of 11 August 2016)
Abico Holdings
Pcl264
Kamolchat Jeungrung
reungkit186
Thai NVDR131
Others419
A leading manufacturer and distributor of canned fruits fruit juices amp beverages in Thailand
Agri Sol Co Ltd
(AGR)ldquoDormantrdquo
Malee Harvest Co Ltd
(MHC)ldquoAgro Businessrdquo
Monde Malee Beverage
Corp (MMBC) ldquoBeverage Business in Philippinesrdquo
Lanchang Farm Co Ltd
(LCF)ldquoHydroponic Farmrdquo
100100
70
49100
Shareholding Structure (As at 04 May 2016)
Milestones
4
2013
1978
1981
1992
bull On 26 September 1996 MALEE increased
its capital from 250MB to 500MB
1995
bull On 9 April 2013 MALEE decreased
its registered capital to 182MB with
paid-up capital of 140MB 2014
2016
bull On 2 February 1978 Malee Sampran
Factory Co Ltd was established with capital
of 10MB as a manufacturer and distributor of
canned food and canned fruits
bull On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998
1996
bull MALEE decreased its registered capital to
140MB with paid-up capital of 140MB
bull In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up the joint venture
company in the Philippines called Monde Malee
Beverage Corporation (MMBC)
bull The Company expanded production base on the land of 30
rais in Sampran District Nakhon Pathom Province
bull In April 1995 Abico Holding Pcl
acquired 40 or 10 million shares of
250MB from the existing shareholders
bull On 15 May 1998 the Company changed its
name to Malee Sampran Pcl
bull On 12 May 2016 the Company changed its name
to Malee Group Pcl
bull On 9 Dec 1998 MALEE increased its capital to
99999MB with paid-up capital of 700MB
13021600 1682 1537
1931 2140
23572615 2706 2861
1525
2797 2405 2021
1546 898
1510
17371603
2065
2567
1768
2062
869
25 (93)(295)
131 106228
646283 307 331
252
-1000
0
1000
2000
3000
4000
5000
6000
7000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 6M2016
Unit Million Baht
CMG Brand Net Profit
10-Yr Historical Performance
5
FloodImpact
1st half
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
HealtiPlus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
Non - Malee
Fruit amp Dessert
Diary Product
Other Beverages
Fruit amp Dessert Snack amp Dessert
First Choice Farmer Leros
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Stock Symbol MALEE
Industry and Sector Agro amp Food Industry Food and
Beverage
No of Listed Shares 140000000 Shares
Registered Capital THB 140000000
Paid-up Capital THB 140000000
Par Value THB 1 per Share
Listing Date 13 March 1992
Foreign Limit 49 (available 45)
Dividend Policy Not less than 50 of the net profit from
normal operation according to
consolidated financial statement after
deduction of tax revenue and legal reserve
Market Capitalization 9940MB or 285MUSD
Free Float 4777
Group Structure
3
Group Structure
Malee Group PclldquoManufacturing and Exportrdquo
Malee Enterprise Co Ltd
(MEC) ldquoDomestic Sale and Marketingrdquo
Share Information (As of 11 August 2016)
Abico Holdings
Pcl264
Kamolchat Jeungrung
reungkit186
Thai NVDR131
Others419
A leading manufacturer and distributor of canned fruits fruit juices amp beverages in Thailand
Agri Sol Co Ltd
(AGR)ldquoDormantrdquo
Malee Harvest Co Ltd
(MHC)ldquoAgro Businessrdquo
Monde Malee Beverage
Corp (MMBC) ldquoBeverage Business in Philippinesrdquo
Lanchang Farm Co Ltd
(LCF)ldquoHydroponic Farmrdquo
100100
70
49100
Shareholding Structure (As at 04 May 2016)
Milestones
4
2013
1978
1981
1992
bull On 26 September 1996 MALEE increased
its capital from 250MB to 500MB
1995
bull On 9 April 2013 MALEE decreased
its registered capital to 182MB with
paid-up capital of 140MB 2014
2016
bull On 2 February 1978 Malee Sampran
Factory Co Ltd was established with capital
of 10MB as a manufacturer and distributor of
canned food and canned fruits
bull On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998
1996
bull MALEE decreased its registered capital to
140MB with paid-up capital of 140MB
bull In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up the joint venture
company in the Philippines called Monde Malee
Beverage Corporation (MMBC)
bull The Company expanded production base on the land of 30
rais in Sampran District Nakhon Pathom Province
bull In April 1995 Abico Holding Pcl
acquired 40 or 10 million shares of
250MB from the existing shareholders
bull On 15 May 1998 the Company changed its
name to Malee Sampran Pcl
bull On 12 May 2016 the Company changed its name
to Malee Group Pcl
bull On 9 Dec 1998 MALEE increased its capital to
99999MB with paid-up capital of 700MB
13021600 1682 1537
1931 2140
23572615 2706 2861
1525
2797 2405 2021
1546 898
1510
17371603
2065
2567
1768
2062
869
25 (93)(295)
131 106228
646283 307 331
252
-1000
0
1000
2000
3000
4000
5000
6000
7000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 6M2016
Unit Million Baht
CMG Brand Net Profit
10-Yr Historical Performance
5
FloodImpact
1st half
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
HealtiPlus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
Non - Malee
Fruit amp Dessert
Diary Product
Other Beverages
Fruit amp Dessert Snack amp Dessert
First Choice Farmer Leros
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Milestones
4
2013
1978
1981
1992
bull On 26 September 1996 MALEE increased
its capital from 250MB to 500MB
1995
bull On 9 April 2013 MALEE decreased
its registered capital to 182MB with
paid-up capital of 140MB 2014
2016
bull On 2 February 1978 Malee Sampran
Factory Co Ltd was established with capital
of 10MB as a manufacturer and distributor of
canned food and canned fruits
bull On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998
1996
bull MALEE decreased its registered capital to
140MB with paid-up capital of 140MB
bull In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up the joint venture
company in the Philippines called Monde Malee
Beverage Corporation (MMBC)
bull The Company expanded production base on the land of 30
rais in Sampran District Nakhon Pathom Province
bull In April 1995 Abico Holding Pcl
acquired 40 or 10 million shares of
250MB from the existing shareholders
bull On 15 May 1998 the Company changed its
name to Malee Sampran Pcl
bull On 12 May 2016 the Company changed its name
to Malee Group Pcl
bull On 9 Dec 1998 MALEE increased its capital to
99999MB with paid-up capital of 700MB
13021600 1682 1537
1931 2140
23572615 2706 2861
1525
2797 2405 2021
1546 898
1510
17371603
2065
2567
1768
2062
869
25 (93)(295)
131 106228
646283 307 331
252
-1000
0
1000
2000
3000
4000
5000
6000
7000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 6M2016
Unit Million Baht
CMG Brand Net Profit
10-Yr Historical Performance
5
FloodImpact
1st half
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
HealtiPlus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
Non - Malee
Fruit amp Dessert
Diary Product
Other Beverages
Fruit amp Dessert Snack amp Dessert
First Choice Farmer Leros
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
13021600 1682 1537
1931 2140
23572615 2706 2861
1525
2797 2405 2021
1546 898
1510
17371603
2065
2567
1768
2062
869
25 (93)(295)
131 106228
646283 307 331
252
-1000
0
1000
2000
3000
4000
5000
6000
7000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 6M2016
Unit Million Baht
CMG Brand Net Profit
10-Yr Historical Performance
5
FloodImpact
1st half
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
HealtiPlus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
Non - Malee
Fruit amp Dessert
Diary Product
Other Beverages
Fruit amp Dessert Snack amp Dessert
First Choice Farmer Leros
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
HealtiPlus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
Non - Malee
Fruit amp Dessert
Diary Product
Other Beverages
Fruit amp Dessert Snack amp Dessert
First Choice Farmer Leros
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Domestic RTD Fruit Juice
Market
8
Source Neilson
Premium Market (100 RTD Fruit
Juice) 5075MB
36
Medium Market (40-99 RTD
Fruit Juice)1252MB
9
Economy Market (20-39 RTD Fruit
Juice)3320MB
23
Super Economy Market (lt19
RTD Fruit Juice) 2281MB
16
Others2255MB
16
(+6 YoY)
(-2 YoY)
(+9 YoY)
(+15 YoY)
(Unchanged YoY)
MAT Jun 2016 Market Value of 14183 MB Growth of 5 YoY
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Premium Juice UHT Market Share
9
MAT Jun 2016 Market Value of 4631 MB Growth of 7 YoY
Tipco29
Malee 22Unif
14
Doikham19
UFC1
Cocomax8
Others7
Tipco39
Malee 21
Unif17
Doikham15
UFC1
Cocomax1 Others
6
MAT Jun 2015 MAT Jun 2016
Note Including Coconut Water
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Sales Structure
10
CMG Contract Manufacturing
Domestic Export Brand CMG
Q22016 Domestic sales growth was 24 YoY
Q22016 Export sales growth was 76 YoY
Q22016 Brand sales growth was 15 YoY
Q22016 CMG sales growth was 69 YoY
7971 69 69 66 63
2129 31 31 34 37
0
10
20
30
40
50
60
70
80
90
Q115 Q215 Q315 Q415 Q116 Q216
Domestic Export
5255 56
4847 46
48 45 44
52 53 54
25
30
35
40
45
50
55
60
Q115 Q215 Q315 Q415 Q116 Q216
Brand CMG
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Domestic Business
11
New
Pro
du
cts
ldquoNew Products of caring message from farmers to consumersrdquo
ldquoThe Caring Messagerdquo
Cam
paig
n
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
International Business
12
Monde Malee Beverage Corporation (MMBC) Update
bull MMBC is the joint venture company between MALEE and Monde Nissin Corporation
(MNC) in Philippines
bull The first SKU of MMBC is KRATOS RTD Coffee
bull KRATOS volumes are now being driven by CVS (on convenience store shelves since
June 2016)
bull Challenge new players with low pricing strategy
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
6M2016 Export Brand Sales by Country
13
e
Cambodia27
Philippines26
China17
Laos4
Myanmar3
Others23
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Global Trend of Coconut Water
14
e
Technavio a leading market research
company headquartered in UK with global
coverage projects the global coconut
water market to grow stupendously at
CAGR of around 25 in terms of
revenue during 2015-2019
Technavio predicts the coconut water
market in US to grow impressively at
CAGR of more than 26 over 2014-
2019
Technavio predicts the coconut water
market in Europe to grow stupendously at
CAGR of more than 23 over 2016-
2020
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Agenda
15
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
12611751
2546
3293
0
500
1000
1500
2000
2500
3000
3500
4000
Q215 Q216 6M156M16
Financial Highlights
16
Sales
Net Profit
Sales growth in Q22016 and
6M2016 was supported by sales
increase both in Brand and CMG
both of which rose domestically and
internationally
1285 1261 1330 1552 1541 1751
0
500
1000
1500
2000
2500
3000
3500
4000
Q115 Q215 Q315 Q415 Q116 Q216
Sales Revenue
Unit Million Baht
+39
YoY
+29
YoY
85 8258
105 110143
0
50
100
150
200
250
300
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit
Unit Million Baht
82
143167
252
0
50
100
150
200
250
300
Q215 Q216 6M156M16
+74
YoY
+51
YoY Net Profit growth in Q22016 and
6M2016 was driven by improved
sales revenue while costs were well
managed including production cost
selling expenses and finance costs
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Profitability Margin
17
325 333 340 316 315 335
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Gross Profit Margin
333335 329326
0050
100150200250300350400450500
Q215Q216 6M156M16
182158 179152
0050
100150200250300350400450500
Q215Q216 6M156M16
177 182 212161 145 158
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Selling ExpensesSales
64 64 44 67 71 81
0050
100150200250300350400450500
Q115 Q215 Q315 Q415 Q116 Q216
Net Profit Margin
64 81 64 76
0050
100150200250300350400450500
Q215Q216 6M156M16
Improved gross profit margin in
Q22016 was encouraged by reduced
cost of production per unit in relation
to higher utilization rate
Slightly less gross profit margin in
6M2016 was mainly contributed by
the change in product sales mix
Reduced selling expenses to sales in
Q22016 and 6M2015 was supported
by the grouprsquos cost control policy and
increased sales ratio of CMG
Higher net profit margin in Q22016
and 6M2016 was supported by
increased sales revenue while costs
were well managed
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Statement of Financial Position
18
2944 2843
2977 3061 3070
3213
2600000
2700000
2800000
2900000
3000000
3100000
3200000
3300000
Q115 Q215 Q315 Q415 Q116 Q216
Total Assets
1814
1685
1831 1806
1705
1804
1600000
1650000
1700000
1750000
1800000
1850000
Q115 Q215 Q315 Q415 Q116 Q216
Total Liabilities
Unit Million Baht
Increased total assets was mainly from
investment in machinery and software as
well as higher inventories trade receivables
and investment in a joint venture company in
the Philippines
Reduced liabilities was resulted from
repayment of loan from financial institutions
1126 1156 1144 1250 1359 1403
00
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Q115 Q215 Q315 Q415 Q116 Q216
Equity
Unit Million Baht Increased equity of parent Companys
shareholders was contributed by additional
retained earnings from net profit
Unit Million Baht
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Liquidity
19
106 107 106 113 119 119
058 055 053066 070 067
300
400
500
600
700
800
900
1000
1100
1200
1300
Q115 Q215 Q315 Q415 Q116 Q216
Current Ratio (x) Quick Ratio (x)
80 84 96 89 78 74
00
20000
40000
60000
80000
100000
120000
Q115 Q215 Q315 Q415 Q116 Q216
Cash Cycle Days
Improved current ratio but lower quick ratio
compared with the end of 2015 was
encouraged by loan repayments higher
trade receivables and larger inventories
Improved cash cycle days were resulted from
reduced collection days and inventory days in
spite of shortened payment days
083 074 087 068051 050
161 146160
145125 129
00
500
1000
1500
2000
2500
3000
Q115 Q215 Q315 Q415 Q116 Q216
IBDE (x) DE (x)
Reduced leverage ratios compared with the
end of 2015 was resulted from operating
profit and loan repayments
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Return to Shareholders
20
33
52 50 50
00
100
200
300
400
500
600
2012 2013 2014 2015
Dividend Payout Ratio
150 151 137 148 158182
0020406080
100120140160180200
Q115 Q215 Q315 Q415 Q116 Q216
ROA
280 278 273293 286
325
240250260270280290300310320330
Q115 Q215 Q315 Q415 Q116 Q216
ROE
Note Annualized
ROA and ROE improved since net profit
has substantially increased while the
Company has continuously paid dividend
to its shareholders twice a year
The Company has policy to pay dividend of
not less than 50 of consolidated net profit
after deduction of tax revenue and legal
reserve
Note Annualized
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Agenda
21
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
Forward Looking ndash 3 Key Strategies
22
Partner
People
Do More with Less
Focus on business
partners with expertise
for business expansion
Treat all customers and
suppliers fairly and as
long time partners
Develop employees both
in term of capability and
mindset to be ready and
growing together with the
Companyrsquos explosive growth
Enhance efficiency and cost
reduction initiatives
Develop risk management plan
to support robust sales
growth
Invest in infrastructure to prepare for enhancement
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
For more information please contact irmaleecothTel +66 2992 5800 Ext 4040
