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267 Pages·2017·7.76 MB·English

A L W A Y S W I T H Y O U
A N N U A L R E P O R T 2 0 1 6

Contents
Investor Information 2
Financial Highlights 4
Message from the Chairman 8
CEO Talk 10
Board of Directors 12
Executive Committee & Management Committee 14
Profile of Directors & Key Management 16
Organization Structure 34
Product Portfolio 36
2016 Awards 52
Shareholding Structure 62
Report of the Board of Directors 64
Operational and Financial Review 82
Our People...Our Success 112
Credit Ratings 114
Corporate Governance Report 115
Audit Committee Report 138
Independent Auditor’s Report 139
Financial Statements 140
Interested Person Transactions Report 243
Announcements to SGX in 2016 257
General Corporate Information 258
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Investor Information
Investor Information
Thai Beverage Pubilc Company Limited SGX TICKER / Y92
is listed on the Singapore Exchange REUTERS / TBEV.SI
(SGX-ST) mainboard BLOOMBERG / THBEV:SP
GOOGLE FINANCE / Y92
IPO Date
30 May 2006
IPO Offer Price
S$0.28
Fiscal Year Ended
30 September
ThaiBev’s Share Price Performance
Share Price (S$)
1.10
1.00
0.90
0.80
0.70
0.60
0.50
2016
Jan Feb Mar Apr May Jun Jul Aug Sep
THAIBEV
Close
SET
Rebased
STI
Rebased
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Investor Information
External Auditor Share Price *
KPMG Phoomchai Audit Ltd. 2016 High S$1.055
2016 Low S$0.660
*Data from 4 January 2016
Dividend Policy
to 30 September 2016
Not less than 50% of net profit
after deducting all appropriated
reserves and investments
Investor Relations Contact:
Investor Relations Department
Thai Beverage Public Company Limited
14 Vibhavadi Rangsit Rd., Chomphon
Chatuchak, Bangkok 10900, THAILAND
ThaiBev’s Monthly Trading Volume
Vol.
(M Shares)
600
500
400
300
200
100
0 2016
Jan Feb Mar Apr May Jun Jul Aug Sep
Corporate Website:
www.thaibev.com
IR Website:
www.thaibev.com/ir.html
E-mail:
[email protected]
Tel:
[phone]
Fax:
[phone]
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Financial Highlights
Financial Highlights
Jan-Sep Jan-Sep
Y2016** Y2015
Revenue from sales 139,153 121,169
e
m Total revenues 143,262 129,148
o
c Cost of sales 97,591 85,050
n)
f Iht Gross profit 41,562 36,119
oa
s B Operating profit 19,433 16,864
entMil. EBIT 23,492 24,811*
m(
te Net profit 19,036 20,468*
a
St Depreciation and amortisation 3,293 3,273
EBITDA 26,785 28,085*
Current assets 50,104 48,060
Non-current assets 137,549 131,404
s
t
eet ) Total assets 187,653 179,464
hh
Sa Current liabilities 32,819 32,960
e B
ncMil. Non-current liabilities 31,122 34,497
a
al( Total liabilities 63,941 67,457
B
Shareholders' equity 123,712 112,007
Total liabilities and shareholders' equity 187,653 179,464
Current Ratio times 1.53 1.46
Quick Ratio times 0.36 0.26
y
uiditatio Average Collection Period days 8.52 10.24
qR Average Inventory Period days 137.17 157.65
Li
Average Payable Period days 17.55 20.00
Cash Cycle days 128.14 147.89
* In 2015, included share of profit from disposal of discontinued operations
** A s 2016 is the first new fiscal year ending September 30 and covering 9 months, from January to September,
the 9-month period of 2015 fiscal year from January to September is provided for comparison.
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Financial Highlights
Jan-Sep Jan-Sep
Y2016** Y2015
Gross Profit Margin % 29.87 29.81
EBITDA Margin % 19.25 23.18* Pr
o
EBIT Margin % 16.88 20.48* Rfi
at
ta
Operating Cash Flows to Operating Profit Ratio % 95.14 65.21 iob
Net Profit Margin % 13.68 16.89* ility
Return on Equity % 15.67 18.89*
E
Return on Assets % 10.30 11.65 * f
Rfi
Return on Fixed Assets % 40.16 43.50 * atiocien
Total Assets Turnover times 0.75 0.69 c
y
Liability to Equity Ratio times 0.52 0.60
L
e
Interest Bearing Debt to Equity Ratio times 0.37 0.46 Rv
ae
Interest Bearing Debt to EBITDA Ratio times 1.72 1.85 * tiora
g
e
Interest Coverage Ratio times 32.94 27.32*
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Financial Highlights
Total Sales Revenue
Total Sales Revenue
Jan - Sep 2016 (efnodre tdh e3 0ni nSee-pmteomnbthe rp 2e0ri1od6) Jan - Dec 2015
139 Billion Baht 172 Billion Baht
2016 Total Sales Revenue Breakdown
55 32
% %
Spirits Beer
4 9
% %
Food Non-Alcoholic
Beverages
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Financial Highlights
Sales Volume (Million Liters)
Jan - Sep 2016 (for the nine-month period ended 30 September 2016)
Jan - Sep 2015 (for the nine-month period ended 30 September 2015)
Million Liters
1600
1200
800
400
Spirits Beer Non-Alcoholic Beverage