Business Overview
Manufacturing and distributing of beverage and snack products such as RTD jelly and jelly carrageenan product line under the Jele brand , cuttle fish snack product line under the Bento brand and extruded biscuit and bread stick product line under the Dorkbua Lotus brand.
Financial Statement
| 2023 | 2022 | 2021 | 2020 |
|---|
Income Statement (MB)
| Revenues | 6,049.43 | 5,603.98 | 4,391.09 | 4,435.67 |
| Expenses | 5,223.10 | 4,927.93 | 3,946.08 | 4,260.91 |
| Net Profit (Loss) | 635.78 | 515.72 | 437.17 | 93.82 |
Balance Sheet (MB)
| Assets | 5,225.22 | 5,068.89 | 4,152.27 | 3,976.23 |
| Liabilities | 1,762.51 | 1,762.91 | 1,061.59 | 3,515.81 |
| Shareholders' Equity | 3,218.35 | 3,049.45 | 2,837.66 | 221.01 |
Cash Flow (MB)
| Operating | 450.09 | 403.49 | 457.11 | 498.25 |
| Investing | -193.81 | -384.86 | -119.51 | -65.92 |
| Financing | -298.72 | -43.37 | -366.03 | -494.27 |
Financial Ratio
| EPS (Baht) | 0.66 | 0.54 | 0.53 | 0.13 |
| GP Margin (%) | 28.55 | 27.26 | 26.36 | 25.70 |
| NP Margin (%) | 10.45 | 9.13 | 9.33 | 1.67 |
| D/E Ratio (x) | 0.51 | 0.53 | 0.34 | 7.64 |
| ROE (%) | 20.29 | 17.52 | 23.75 | 17.54 |
| ROA (%) | 15.38 | 14.11 | 10.37 | 1.81 |
Business Plan
1.Sales growth continuously.
2.Profit growth continuously.
3.Strengthening the core business (Core brand)
4.Increase market share both domestic and overseas.
5.Strengthen Product development to find new product champions.
6.Establish business partnerships to drive business expansion in oversea markets.
7.Strong progress of Sustainable Development Projects.
8.Seeking opportunities for inorganic growth through M&A.
Sustainable Development Plan
Organizational Environmental Management
- The Company has set a goal for carbon neutrality by 2032.
- The Company has established the Reforestation Project to acquire carbon credit by 2024.
Energy Management Policy
- The Company has set a goal of reducing the use of electricity from the Electricity Authority by 0.05% every year compared to sales (Electricity Use/Sales). In 2023, the Company was able to reduce the use of electricity from the Electricity Authority by 0.052%.
Water Management Policy
- The Company has set a goal of reducing the rate of releasing water after treatment into nature by at least 5% every year. In 2023, the Company was able to reduce the release of treated water into the community by 274 cubic meters, calculated. is 5.51%.
Human rights operations
- In 2023, the Company had no complaints of human rights violations in any aspect such as forced labor, child labor, discrimination, harassment, human trafficking, or any form of sexual harassment, freedom of association, the right to collective bargaining, equality in compensation occurred.
- By 2024, 75% of employees have knowledge and understanding about human rights.
Business Highlight
- All Time High Revenue from Sales Growth.
- Net Profit Double-Digit Growth.
- The Vietnam Factory expanded its production lines for the Bento and Jele brands, installing machinery and ready to start production lines for all 3 core brands (Bento, Lotus and Jele) in Q4/2023.
Performance and Analysis
Business Performance Summary
In 2023, the Company’s net profit attributable to owner of the parent (“the Company’s net profit”) continually grew by 23.3% YoY. The growth drivers were driven from both domestic and overseas business, especially, sales growth in Vietnam and the successful launch of new products. Good responses on the rebranding of the Company's products, and the efficient cost management also supported the domestic and overseas growth.
Key Milestones
- The Vietnam Factory expanded its production lines for the Bento and Jele brands, installing machinery and ready to start production lines for all 3 core brands (Bento, Lotus and Jele) in Q4/2023.
- The Company launched new products including Jele Light Freshy, 3 new flavors' lychee, grape, peach and Jele Chewy Jelly Ice, mixed berry and lychee flavors under the Jele. - New products under the Lotus brand such as Crispy Crab Stick Mala, Lotus Drumstick Truffle Flavor and Lotus Biscuit Stick Mala Flavor. New Bento flavor such as Bento Spicy Korean sauce flavor and Bento Gochujang sauce flavor.
Risk Management Policy
1. Operational and Safety Risk
- To implement safety management in the production process to be at an international level
- To assess production process safety management by internal and external auditors.
- Continuous employee training and development
2. Quality and Product Safety Risk
- Controlling operations on an End to End process basis, from the procurement process to the delivery of products to customers in accordance with international quality system standards, consisting of quality system management standards and food safety (ISO22000, GMP, HACCP, ISO/IEC17025)
3. Human Rights Risk
- To create the Company’s organizational culture to be an organization that is committed to respecting human rights according to human rights policy.
- To regularly monitor, inspect, and evaluate social and human rights risks and impacts along with setting guidelines or measures for appropriate risk management by giving every department the duty to supervise and manage risks that are under their responsibility.
Recent Awards and Recognitions
- The Company has been selected to be included in MSCI effective on 28 February 2023.
- The Company has been selected to be included in FTSE SET Index Mid Cap effective on 19 June 2023.
- The Company has been selected by the SET to be included in SET100 effective on 1 July 2023 - 31 December 2023.
- The Company has been awarded Outstanding CEO and Outstanding CFO of Food-Agri sector in IAA Awards for Listed Companies 2022 - 2023 by Investment Analyst Association.
- The Company received an evaluation of good corporate governance at the level of “excellent” or “5 stars” from the 2023 Corporate Governance Survey Project of Listed Companies of the Thai Institute of Directors Association (IOD).
Revenue Structure
Stock Information
SET / AGRO / FOOD
| as of 28/12/23 | SNNP | FOOD | SET |
|---|---|---|---|
| P/E (X) | 27.11 | 30.60 | 18.42 |
| P/BV (X) | 5.45 | 1.54 | 1.36 |
| Dividend yield (%) | 2.33 | 3.37 | 3.32 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 16,896.00 | 19,296.00 | 11,424.00 |
| Price (B/Share) | 17.60 | 20.10 | 11.90 |
| P/E (X) | 27.11 | 39.86 | 32.35 |
| P/BV (X) | 5.45 | 6.54 | 4.36 |
CG Report:
Major Shareholders
as of 05/03/2024
Company Information and Contact
https://www.snnp.co.th/
ir@snnp.co.th
0-2628-0408
325/6-9 Soi Lanluang 7, Si Yaek Mahanak Sub-district, Dusit District Bangkok 10300
Other Trading Info. :
https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=SNNP
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