R&B Food Supply Public Company Limited

RBF Opportunity Day FY2022

24 February 2023
Key Milestones
May 1985 Oct 2019
Thai Flavour and Fragrance Company Limited : RBF was LISTED in The Stock Exchange of Thailand (SET) which has increased the
manufacturing and selling of flavoring agent for food, registered capital from 1480 to 2,000 million THB for Initial Public Offering (IPO).
perfume, cosmetics, food coloring, and food additive.

Nov 1991 Jun 2020

R&B Food Supply Public Company Limited (RBF) : R&B FOOD SUPPLY (SINGAPORE) PTE.LTD (“RBSG”) :
manufacturing and selling of flavoring agent, flour, breadcrumbs, the registered capital of 1.00 million SGD., Laboratories abroad.
seasoning, sauce, food additive and plastic packaging.

Dec 1993 Nov 2020

Best Odour Company Limited (BO) : RBJ Company Limited : the registered capital of 10.00 million THB.
manufacturing and selling of food coloring and some food additive. Distributor of specific products that are jointly developed.

May 2002 Nov 2020

Ph.D. Somchai and Mrs. Petchara Ratanapoompinyo purchased shares
Maple Innovation Company Limited : the registered capital of 99.00 million Yen. Import,
of Premium Foods Company Limited (PFC) from existing shareholders
export, research and development of products, including sales and marketing.
,manufacturing and selling dried products and frozen food.

Mar 2013 Apr 2021

R&B FOOD SUPPLY VIETNAM LIMITED LIABILITY COMPANY : At the Annual General Meeting no.1/2021, that held on April 2021, the Group dispose of the two hotel
(1) manufacturing and selling breadcrumbs; businesses; the Ibis Styles Chiang Mai and Novotel Chumphon Beach Resort and Golf. The mentioned
(2) selling flavoring agent, flour, breadcrumb. transaction had been completed within 30 June 2021.

Mar 2016 Sep 2021

PT RBFOOD SUPPLY INDONESIA (RBINT: Thai Union Group Public Company Limited (TU) has joined R & B Food Supply Public Company Limited
selling of flavoring agent, flour, breadcrumbs, seasoning, sauce, (RBF) as the strategic partner.
food coloring, dried products , frozen food, and food additive.

Mar 2018 Apr 2022

PT RBFOOD SUPPLY MANUFAKTUR INDONESIA (RBINM): At the Board of Directors Meeting No.1/2022 on January 28, 2022, R&B Food Supply Public Company Limited (RBF)
manufacturing and selling of breadcrumbs. and the partners i.e. Thai Union Group Public Company Limited ( “TU” ) and Srinivasa Cystine Private Limited
(“SCPL” ) which an associate of Avanti Group has established the joint venture company namely: “RBS – TU FOOD
May 2018 INGREDIENTS PRIVATE LIMITED”, registration date on 26 April 2022;
Guangzhou Thai Delicious Food Company Limited (RBCH): Authorized capital in the amount of INR 100 million with issued and paid‐up capital of INR 76 million;
the registered capital of 3.00 million yuan. To distribute high quality food ingredients in the Indian Market.
selling flavoring agents and breadcrumbs and cooking flour.

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11-Affiliates Operating in 7 Countries

99.99% 99.97% 99.99% 51.00% 100.00%

TFF BO PFC RBJ RBSG

100.00% 60.00% 100.00% 100.00% 60.00% 51.00%

RBVN RBINT RBINM RBCH MI RBS‐TU

Remark TFF Thai Flavour and Fragrance Company Limited

BO Best Odour Company Limited
PFC Premium Foods Company Limited
RBJ RBJ Company Limited
RBVN R&B Food Supply Vietnam Limited Liability Company
RBINT PT RB Food Supply Indonesia
RBINM PT RBFOOD MANUFAKTUR INDONESIA
RBCH GUANG‐ZHOU‐TAI‐MEI‐WEI‐SHI‐PING‐YOU‐XIAN‐GONG‐SI
RBSG R&B Food Supply (Singapore) Company Limited
MI Maple Innovation Company Limited
RBS‐TU RBS – TU FOOD INGREDIENTS PRIVATE LIMITED

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OUR STRENGTH Smart food

ingredients with
Strong Expertise
and cutting edge
Market innovation.
Leader
Growth
Capability Fully equipped
facilities 10 factories Over 30 years of
Number 1 Leading experience with a
and the first
Food ingredients world‐class team
company granted for of innovative and
CBD(Hemp) in Thailand. smart food
extraction license in ingredients.
Thailand..

Approaching
to Various More than 4,000
Customers customers covering
from small, and
medium (SMEs), to
large enterprises..

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Ladprao 101 Headquarter 136 Hi‐Tech Industrial Estate

 Breadcrumbs/Flavoring
 Company Headquarter  Fragrance Factory
 Bangkok, Thailand  Ayutthaya, Thailand

Lot B2‐4a Long Hau Commune

Factory Wang Noi 989 Hi‐Tech Industrial Estate
 Food Coating Factory
 Food Coating Factory  Food Coating  Long An Province
 Ayutthaya, Thailand  Seasoning/Sauce  Vietnam

 Ayutthaya, Thailand

134 Hi‐Tech Industrial Estate 989 Hi‐Tech Industrial Estate Kawasan Industry Jababeka
 Flavoring Factory
 Plastic Packaging
 Ayutthaya, Thailand  Food Coating Factory
 Ayutthaya,
 Cikarang Province
Thailand
 Indonesia

136 Hi‐Tech Industrial Estate San Sai Factory

 Food Coloring  Dried Products
 Ayutthaya,  Frozen Food
Thailand  Chiang Mai, Thailand

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Product Categories

Flavoring, Fragrance Dried product: Air Dried,

and Food coloring Spray Dried, Freeze Dried

Food Coating: Breadcrumbs, Frozen product:

Premixed, Seasoning Ready to eat, Ready to cook

Trading Product: Plastic Packaging:

Sausage casing, Food additive PLA, PET , PP, PS

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Our Brands

Logo Brand Product

 Flavoring

Best Odour
 Coloring Halal Food
 Baking Soda
 Food Additive
 Breadcrumbs
Uncle Barns  Premix Product
 Milk Power

Gob Jung  Breadcrumbs

Super‐Find  Premix Product

Haeyo  Flavoring

Angelo  Flavoring

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FY 2022 Financial Performance
Revenues Contribution +17.06% YoY
+8.59% YoY (577.23 MB)
(267.60 MB)

+8.27% YoY (76.74MB)

+1.14% QoQ (11.35MB) 3,961
3,116 3,384

Revenue from sales of

food ingredients
MB
928 993 1,005

Q4 2021 Q3 2022 Q4 2022 2020 2021 2022

+36.98% YoY +38.25% YoY

(159.70MB) (226.24MB)
+7.78% YoY (15.16MB)
+2.28% QoQ (4.68 MB) 431.81 MB 591.51 MB
17.48% 817.75 MB
13.86% 20.64%
OVERSEAS SALES 194.98 MB 205.46 MB 210.14 MB
21.01% 20.68% 20.91%
DOMESTIC SALES 86.14% 82.52% 79.36%
733.27 MB 788.18 MB 794.85 MB 2,684.57 MB 2,792.47 MB 3,143.46 MB
78.99% 79.32% 79.09%

+8.40% YoY (61.58MB) +4.02% YoY +12.57% YoY

+0.85% QoQ (6.67MB) (107.90MB) (350.99MB)
Q4 2021 Q3 2022 Q4 2022
2020 2021 2022

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FY 2022 Financial Performance
product 1.06%, 11.89%,
0.66%, YoY
16.64%, Plastic 10.61 MB Trading Product
Plastic 6.17 MB Trading Product Packaging
Packaging Flavour, Coloring
+20.03% (56.55MB)
119.47 MB
154.45 MB Food Coating 1.29%, 13.01 MB
2.28%, 21.19 MB +12.89% (52.81MB)
Frozen Product
Frozen Product 282.41 MB 60.60 MB 338.96 MB
Dried 33.73%
54.50 MB 30.42% +11.19% (6.10MB) 1,004.99
928.25 MB Flavoring & 6.03% Flavoring & Food
5.87%
Food Coloring Dried Product MB Coloring
Dried Product Frozen ‐38.58% (‐8.17MB)
409.53 MB 462.34 MB
Plastic +71.88% (4.44MB)
Q4 2021 Q4 2022
44.13%, Trading 46.00%,
Food Coating ‐22.65% (‐34.99MB) Food Coating

2021
2022

0.71%, 23.95 MB 15.35%, 1.01%, 12.90%,

Plastic product YoY Plastic
40.02 MB
Trading Product
Trading Product
Packaging Packaging
Flavour, Coloring
+8.16% (97.45MB)
519.33 MB 511.00 MB
2.00%, 67.74 MB Food Coating
1.52%, 60.20 MB
+30.92% (421.94MB) Frozen Product
Frozen Product 1,291.64 MB
1,194.20 MB 271.66 MB
32.61%
214.01 MB Dried
6.32% 3,383.98 MB 35.29% +26.94% (57.65MB)
6.86% 3,961.21 MB Flavoring & Food
Flavoring & Coloring
Dried Product Food Coloring Dried Product
Frozen ‐11.14% (‐7.55MB)
1,364.75 MB 1,786.69 MB
Plastic +67.06% (16.06MB)

40.33%, 45.10%,
Trading
Food Coating
‐1.60% (‐8.32MB) Food Coating

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FY 2022 Financial Performance
Industrial customer
Revenues Breakdown by Customer group 9.22%,
8.18%,
Wholesale customer 75.95 92.66
6.82%,
Retail customer 63.31 9.73%,
Customer YoY 97.78

85.00%, 81.05%,
Industry
788.99 +3.24% (25.56MB) 814.55

Wholesale
928.25 MB +54.45% (34.47MB) 1,004.99 MB
Q4 2021 Q4 2022
Retail
+22.00% (16.71MB)

2021
2022

Industrial customer 7.33%, 290.39

7.26%, 245.96 8.32%,
Wholesale customer
7.30%, 329.46
Retail customer 246.88
Customer YoY

Industry
+15.57% (450.22MB) 84.35%,
3,341.36
85.44%,
Wholesale
2,891.14 +33.45% (82.58MB)

3,961.21 MB
3,383.98 MB Retail
+18.06% (44.43MB)

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FY 2022 Financial Performance
GP margins
295.30 MB 322.61 MB 1,307.09 MB 1,258.19 MB 1,345.78 MB

41.9%
32.1% 34.0%
31.8% 37.2%

Q4 2021 Q4 2022 2020 2021 2022

GP Margin

EBIT margins NP margins Net Profit from continuing operations to Sales

130.80 MB 117.03 MB 702.33 MB 606.56 MB 613.25 MB 103.68 MB 95.70 MB 517.31 MB 422.79 MB 491.22 MB

16.6%
22.5%
17.9% 11.2% 12.5%
14.1%
11.7% 15.5% 12.4%
9.5%

Q4 2021 Q4 2022 2020 2021 2022 Q4 2021 Q4 2022 2020 2021 2022
EBIT Margin NP Margin

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FY 2022 Financial Performance
SG&A 19.6%
19.3% 19.3%
19.2% 19.3%
763
663
600

179 193

MB
Q4 2021 Q4 2022 2020 2021 2022

Total Assets Total Liabilities & Equity

5,006 5,204 5,204
4,883 4,883 5,006
552 593
436 215
358 217
2,885
2,612
Cash and cash equivalents,
3,018 Current Liabilities
AR & Inventories

15 42 Other Current Assets 4,396 Non Current Liabilities

21 4,089 4,237
Equity
Non Current Assets
2,256 1,967 2,277

31 DEC. 2020 31 DEC. 2021 31 DEC. 2022 31 DEC. 2020 31 DEC. 2021 31 DEC. 2022

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FY 2022 Financial Performance
Days sales outstanding Days inventory outstanding Account payable turnover Cash Cycle (Days)

7.23
2022 2.37
4.43
2022 83 154 51 2022 186

7.1
150 2021 2.43
2021 88 51 2021 187
4.15

2020 89 145 44 2020 190 8.35

2020 2.51
DSO (Days) DIO (Days) 4.13
A/P Turnover (Days)

A /P Turnover (Tim es)

Inventory Turnover (Tim es)
A /R Turnover (Tim es)

ROE ROA Debt position EPS

Percent
0.2x 0.2x 0.2x
ROE ROA 808
794 769
0.24 0.24
15.1%
12.3% 12.0%
13.0% 4,089 4,237 4,396
10.1% 11.2%
MB THB
31 Dec. 2021 31 Dec. 2022
31 Dec. 2020 31 Dec. 2021 31 Dec. 2022 31 Dec. 2020 31 Dec. 2021 31 Dec. 2022
Earnings per share ‐ owners of the Company
Total Equity Liabilities D/E (Times) From continuing operations

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GROWTH OPPORTUNITY
New project of 2023
Coating
• Working with customer UK US
• Vegan project
• Microwave reheat
• Export more retail item (sauce
and other culinary item)
Flavor
• Sugar replacement
• Salt replacement
• CBD
• Flavor for pet food
• Functional ingredient for pet food
• Natural reaction flavor
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GROWTH OPPORTUNITY

Preparation for 2023‐2024

• Synthesis of chemical RM
• Negotiate existing suppliers
• New source of supplier for flour
• Distribute R&D team and lab to other
country Vietnam, Indonesia, India,
Japan, UK

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Question & Answer

Thank You