OPPORTUNITY DAY June 17, 2020
DISCLAIMER The following presentation may contain forward looking statements by the Management Team of Thai Optical Group Public Company Limited (the Company), related to financial or other tendency for future periods, compared with the results for previous periods. Some of the statements contained in this presentation that are not historical facts but it are statements of future estimations with respect to the financial conditions, results of operations and businesses, and related plans and objectives. Disclaimer information is based on management’s current views and assumptions including, but not limited to, prevailing economic and market conditions. These statements involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in the statements as originally made. Such statements are not, and should not be constructed as a representation as to future performance of the Company. In addition, such statements should not be regarded as a forecast or projection of future performance of the Company. It should be noted that the actual performance of the Company may vary significantly from such statements in this presentation. 2
AGENDA 1. Q1/2020 Results 2. Key developments 3. Q&A Strictly confidential 3
AGENDA 1 2020 Results
Q1/20 RESULTS (CONSOLIDATED) Unit: THB million 2019 Growth 2020 Revenue from sales and services 549 -17.9% 450 69 139 Gross profits -50.0% (15.4%) (25.3%) 38 80 Net Income -52.7% (8.5%) (14.7%) 33 87 EBIT -62.0% (7.4%) (15.9%) 80 134 EBITDA -40.4% (17.8%) (24.4%) 5
Q1/20 LOWER REVENUE IN EUROPE & ASIA PACIFIC Unit: THB million % represents share of total sales for each region Europe Asia Pacific 770 750 368 339 221 184 105 88 America 77 131 153 2018 2019 Q1/18 Q1/19 Q1/20 81 2018 2019 Q1/18 Q1/19 Q1/20 48 35 14 2018 2019 Q1/18 Q1/19 Q1/20 Australia and New Zealand Middle East and Africa 688 641 13 11 3 3 3 185 191 161 2018 2019 Q1/18 Q1/19 Q1/20 2018 2019 Q1/18 Q1/19 Q1/20 Strictly confidential 6
Q1/20 US IS COMING BUT FROM LOW BASE 3.1% 4.4% 6.4% 7.8% 9.1% 10.7% 20.2% 19.0% 19.7% 19.3% 20.2% 17.8% America 34.8% Asia/Africa 35.8% 33.7% 34.9% 32.5% 42.4% ANZ 41.8% 40.9% Europe 40.3% 38.0% 38.1% 29.1% 2018 2019 2020E Q1/18 Q1/19 Q1/20 7
Q1/20 HIGHER SALES IN RX 7.2% 6.9% 7.7% 8.0% 8.0% 8.2% Others 32.2% 33.6% 33.6% 34.7% 35.9% 38.4% High value-added Rx 20-30% margin 26.2% 26.3% 22.4% 25.7% 26.3% Value-added 28.4% Standard Low value-added 34.9% 34.6% 33.1% 33.0% 10-20% margin 29.8% 24.9% 2018 2019 2020E Q1/18 Q1/19 Q1/20 8
Q1/20 DROP SALES IN ALL PRODUCT 549 $1.2 mil 38 450 $1.2 mil $5.7 mil 37 Others 177 $5.5 mil 173 Rx $4.6 mil 144 $4.1 mil Value-added 128 $6.1 mil 190 $3.6 mil Standard 112 Q1/19 Q1/20 Exchange rate USD of Q1/2020 = 31.3 THB 9
SIGNIFICANT FACTORS IN Q1/2020 • Much less demand during Covid-19 – Customers were cancelling or downsizing their purchase orders due to less consumer demands depending on the country. Some countries were in the lockdown where retail businesses could not operate. Some could be operated on a limited basis. • Thai Baht currency – Compared to Q4/19, Thai Baht has weakened in Q1/20 from 30.28 to 31.30 (quarterly basis). However, when compared to Q1/19, Thai Baht has strengthened by a little from 31.62 to 31.30. Favorable exchange was accounted for about THB 9 mil in this quarter 10
HISTORICAL QUARTERLY FINANCIALS Unit: THB million 608 549 541 537 498 523 454 477 475 472 450 441 465 459 454 455 450 442 428 402 343 150 144 139 135 116 92 107 136 124 96 117 129 106 93 87 92 78 62 69 65 64 91 18 28 13 87 92 13 56 75 80 14 25 48 59 38 33 51 42 47 28 41 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Sales Gross Profit Net Profit 11
YEAR-ON-YEAR Q1 FINANCIALS Unit: THB million 549 523 454 450 450 150 139 124 92 69 80 75 47 18 38 Q1/16 Q1/17 Q1/18 Q1/19 Q1/20 Sales Gross Profit Net Profit 12
AGENDA 2 Key Developments
RX AUTOMATION PHASE 2 WAS COMPLETED • Full completion of Rx Automation project both Phase 1 and Phase 2. • We started off with a number of new key accounts in 2020 but the new businesses were suspended during Covid-19 (majority in Europe). While partially resumed, the total demand is expected to be less than the earlier planned capacity. • At the end of May 2020, Rx business is at 60-70% utilization. 14
ESTABLISHMENT OF TOG EUROPE • TOG decided to establish our local distribution business in Poland and targeting smaller-scale customers in the similar manner as that of TOG USA. There is a strong trend in smaller order patterns from even large-size customers due to their tightening cash flows. • Similar business model as TOG USA; 3PL warehouse with no or limited employees. 15
IMPLEMENTED AND CONTINUING MEASURES IN RESPONDING THE COVID-19 16
TOG HAS A COMPLETE RX PORTFOLIO CUSTOMIZED ADVANCED SINGLE STANDARD DIGITAL OCCUPATIONAL SINGLE VISION AND VISION LENS PROGRESSIVE LENS PROGRESSIVE LENS LENS PROGRESSIVE LENS 17
CONTINUE TO LAUNCH NEW PRODUCTS IN 2020 Launched in 2020 Launching in July 2020 18
ZENITH IRIS ™ Ergonomically advanced individual progressive lenses for a digital lifestyle. ERGOLINEAR-TEC provides minimizing the gradient of astigmatism. 19
ZOUL WORK™ This high performance occupational progressive lens for indoor activities. DIGITAL PROFILE offers the ultimate in eye comfort for working at desks and in the meeting room. Strictly confidential 20
ZOUL DRIVE ™/ ZOUL PLAY™ This high performance occupational progressive lens for outdoor activities. RESPONSIVE VISION DESIGN (RVD) provides an ergonomically designed profile for the most effective in far and intermediate vision. Strictly confidential 21
ZEEN ™ Outstanding aspheric single vision design, with FREEFORM TECHNOLOGY , to relieve eye strain and BOOST ACCOMMODATION of changing focus distances. Strictly confidential 22
AGENDA 3 Q&A
THAI OPTICAL GROUP PCL. Head Office 15/5 Moo 6 Bangbuathong-Suphanburi Rd. Laharn Bangbuathong, Nonthaburi, Thailand 11110 Tel: (+66) 02 194 1145 to 1146 Sales and Customer Service 77/141-142, 33 rd Fl. Sinn Sathorn Tower, Krungthonburi Rd. Klongtonsai, Klongsan Bamgkok, Thailand 10600 Tel: (+66) 02 440 0506 to 0507
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