Opportunity Day 16 JUNE 2021 - "Strengthen The Core, Create The Next" - S&P Syndicate (SNP)
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Opportunity Day
16 JUNE 2021
“Strengthen The Core, Create The Next”
1
Today’s Highlights
1Q21 Financial Performance
Dividend Payment & Warrants Issuance
1Q21 Achievement Summary
2021 Strategic Plan and 1H21 Key Focus
2
1Q21
Financial Performance
3
1Q21 Key Highlights
All About MINDSET As A Key To Sustainably Do Business!
1Q21 Net Profit was 79mb, +106mb vs 1Q20
Despite that Total Revenue dropped -305mb or -21% vs 1Q20
1Q21 Net Profit was +3mb vs 1Q19 while revenue dropped -584mb or -34% vs 1Q19
Overall fixed costs were permanently cut
% to Revenue was effectively improved, resulting the higher profitability
Delivery Sales increased +14% vs 1Q20
Delivery Sales Mix grew from 9% in 1Q20 to 13% in 1Q21
New products, “Khao-Chae”, hit the New High
New Trial pack size with effective ads and operations boosted up the New High
MINDSET : Disruptive I Customer Centric I Productivity & Profitability I Less Fix & More-Flex Agility I Right Culture 4
Revenue | Gross Profit | Net Profit
Stronger Profitability has been proven with sustainable momentum
In Million Baht
3M
Revenue Gross Profit Net Profit
Total Revenue dropped -305mb vs LY primarily
-305mb -141mb
+106mb
due to the continuing Covid-19 pandemic and
-21% -20%
YoY YoY YoY the still-temporarily closed Airport stores since
1,464 Mar 2020
48.2%
47.8% %Gross Profit improved +0.4% from LY mainly
1,159 driven by the manufacturing fixed costs reduction
and the “profit-focus” mindset
Remark : Restaurant labor was reclassified from COGS to Selling Expenses for both
699 1Q21 and 1Q20
558 6.8%
Net Profit was +106mb despite the revenue
drop -21% from LY, mainly driven by :
1. Strong gross profit on NPDs
-1.8%
79 2. Fixed costs cut and leverage
3. Labor productivity control and monitoring
-26 4. Rent negotiation
1Q20 1Q21 1Q20 1Q21 1Q20 1Q21 5. Expenses and spending controls
%to Revenue 5
Total Group Revenue & Sales Mix
Delivery has continuously increased and contributed significant higher-mix
In Million Baht
3M
Total Group Sales Mix
Total Group Revenue -305mb or -21% vs LY
-305mb 13% mainly driven by the continuing Covid19 Pandemic.
-21% YoY ❖ Restaurant :
9% • Domestic Net Sales dropped -18% vs LY due to
1,464 the lower traffic especially for dine-in and still
5% temporarily closed stores at Airport
9%
143 10% 13% • International Net Sales dropped -73% vs LY due
1,159
2% 21% 14% to the lockdown
117 10%
❖ Trading : Net Sales dropped -18% from LY,
relatively dropped via the Food Chain and Airline
accounts
1,239 85%
1,016 88% 70% 73% Delivery Sales was +14% vs LY while Sales
Mix was shifted from 9% LY to 13% in 1Q21
• Attractive Marketing and Promotion Campaigns
• Alliance with food aggregators
1Q20 1Q21 1Q20 1Q21 • Heavy focus on Thai Food, Cake and Snack Box
Demestic Stores Trading International Stores Take-Aways Dine-in Delivery
%Delivery Sales Mix 6
Selling and Administrative Expenses
Overall fixed costs were permanently cut : “Less Fix-More Flex Agility”
In Million Baht
3M
49.5%
Total Selling and Admin Expenses were decreased
725 -245mb or -34% vs LY
41.4% • Number of employees at end of 1Q21 was 4.7 thousands,
151 10.3% reduced from 5.3 thousands persons at end of 2020.
Selling Expenses decreased -194mb or -34%, mainly
480
driven by
100 8.6% 1) in-store labor productivity improvement
2) rental negotiation
3) effective marketing spending and
574 39.2% 4) expenses controls
Remark : Restaurant labor was reclassified from COGS to Selling expenses for both
380 32.8% 1Q21 and 1Q20
Admin Expenses decreased -51mb or -34%
1) work process restructuring and efficiency improvement
2) office space reduction
1Q20 1Q21 3) costs cut and controls
Selling Admin %to Revenue
7
Dividend Payment
&
Warrants Issuance
8
Dividend Payment
Date of Board resolution : 23-Feb-2021
Cash Type of dividend payment : Cash dividend payment
Record date for the right to receive : 11-Mar-2021
Dividend Payment Ex-dividend date : 10-Mar-2021
Payment for : Common shareholders
Cash dividend payment (baht per share) : 0.25
0.25
BAHT PER SHARE
Par value (baht) : 1.00
Payment date (Update) : 19-May-2021
9
Warrants Issuance
Date of Board resolution : 23-Feb-2021
Type of allocated securities : Warrants
Allocate to : Existing common shareholders
Number of allotted warrants (units) : 24,520,419
Reserved shares for the exercise of : Common shares warrants
24,520,419 shares
Warrants
Number of additional shares (shares) : 24,520,419
Ratio (Existing shares : Warrant) : 20 : 1
Record date for the right to receive : 11-Mar-2021
SNP-W2 Ex-rights date : 10-Mar-2021
Exercise Price Offering price (baht per unit) : 0
1.00 BAHT
Description of warrants
Warrant Symbol : SNP-W2
Name of warrant : Warrants to purchase ordinary share
of S & P Syndicate Public Company Limited No.2
Exercise ratio (warrant : share) : 1 : 1
Exercise price (baht per share) : 1.00
Term of warrants : 2 Years
101Q21
ACHIEVEMENT SUMMARY
11New products were successfully launched (New High)
Khao-chae Signature Menu as Promotion
12S&P DelTA (Delivery & Take Away)
Platform : Convenient Bakery Shop with Kitchen
Location : Community Mall, Hypermarket,
Gas Station and Community Mall
Size : More than 90 Sqm.
Investment : 1.5-3.0 Million Baht
Revenue : 1.2-1.8 Million Baht / Month / Store
Target 2021
Target :
DelTA Store
New 31 DelTA stores in 2021
Expand delivery channel to cover 100% coverage area in BKK
Adding new delicious items to our delivery menu
31
stores
131Q21 DelTA Stores
Averaged Sales per Day was increased by 40%-70% after conversion
PTT Klongluang PTT Ratchapruek 2 PTT Rangsit Klong 2
Opened
DelTA Store
PTT Ratchapruek 4 Lotus Watcharapol
5stores
14NEW Signage to promote 1344 S&P Delivery
Total
New Signage
22stores
15NEW 1344 Ordering Application for all occasions
Launch New Ordering Application
New user-friendly design for customers, Re-product category for all occasions. 16NEW 1344 Ordering Application for all occasions
DOWNLOAD NEW APP HERE!
OR GO TO WWW.SNP1344.COM
17NEW S&P Bakery Mart & Vending Machine
Open New concept “S&P Bakery Mart” at office building ItalThai (Prototype)
Clear display/ Fast payment/ 24hrs. vending 182021 Strategic Plan
& 1H21 Key Focus
19S&P Group
2021 Strategic Plan 2020 Mission : NPAT 500 MB
“To be the Most Preferred Thai Restaurant and Bakery Shop in Thailand”
Strengthen the CORE I Create the NEXT
Strengthen Dine-in Performance Drive Delivery Business Grow Customers Maximize Profits
• EnlivenSignature Menu • Launch 1344 new online • Enhance Birthday Cake and 1. Control COGS, COL and
• Promote “Value for Money” Ordering Platform launch New Products Rental expenses
meal sets • Expand Delivery service with • Grow Retails sales thru C- 2. Reduce Corporate
• Grow Breakfast sector 100% coverage on BKK and stores, Modern Trade and new overhead expenses
• Enhance “High Quality, Healthy major cities channels
• Drive Food Service sales thru
(G&A)
Food, Good Taste” Proposition • Grow Corporate Sale, snack 3. Implement smart
existing Food Chain accounts,
box and catering service OEM and corporate sale sourcing and
• Upgrade and launch new
procurement system
CRM Program
SCM Manufacturing Sustainability Development
Aim to improve health, well-being and environmental
Improve Speed-To-Market on NPDs Drive OEM I Move to Integrated New DC
protection
System I Work Process I Efficiency
Implement new ordering and CRM platform I Improve and Enhance existing systems & processes I Lean workflow and documentations
Build Agile and High Performing Team in the NEW NORMAL
Build Future Leaders thru SSS, TMS, NGL, AMU, • Retain and Develop People in Critical Positions Enhance and Embed “Customer Centric and Unit
& MT programs • Develop Cross-Functional Organization Manager is Number ONE” Culture 201H21 Key Focus
1. Grow Delivery : Delta Stores and New Digital Platform and Application
2. Grow Take-Away : Convenient Bakery Shop
3. Develop Signature Thai Menu, New Menu and More Value Sets
4. Launch New Cake Line
5. Grow Corporate and Catering Sales thru 1344 Call Center
6. Operate New Warehouse and New Distribution Center → Moved to 3Q21
22New Cake Line
Assorted flavored pound cakes Cute cake for children Pound cake 295 in hypermarket
23Q&A
24For inquiries related to the Investor Relations, please contact us by:
irsnp@snpfood.com
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