| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 6,290.40 | 5,798.23 | 4,913.37 | 5,285.60 |
| Expenses | 5,679.67 | 5,185.62 | 4,462.76 | 4,951.20 |
| Net Profit (Loss) | 485.23 | 460.36 | 340.02 | 183.03 |
| Assets | 5,044.76 | 5,324.83 | 5,065.94 | 5,389.17 |
| Liabilities | 2,284.60 | 2,575.54 | 2,449.92 | 2,993.69 |
| Shareholders' Equity | 2,722.79 | 2,704.36 | 2,577.72 | 2,359.49 |
| Operating | 1,111.25 | 1,164.93 | 1,152.65 | 954.96 |
| Investing | -245.33 | -297.83 | -165.06 | -344.24 |
| Financing | -1,231.93 | -766.59 | -579.68 | -696.52 |
| EPS (Baht) | 0.94 | 0.90 | 0.69 | 0.37 |
| GP Margin (%) | 56.16 | 55.77 | 52.34 | 40.26 |
| NP Margin (%) | 7.75 | 8.00 | 6.95 | 3.44 |
| D/E Ratio (x) | 0.83 | 0.94 | 0.94 | 1.25 |
| ROE (%) | 17.88 | 17.43 | 13.77 | 7.55 |
| ROA (%) | 12.51 | 12.07 | 8.94 | 6.27 |
- Focus on the Dine-in channel, especially the stores in Airport, Hospital, Shopping Mall, and Hypermarket. Key drivers were the single dish menu reinvention which lead to higher %GP
- Increase seasonal products sales such as Cakes and Cookies for New Year festival
- S&P's 3P Sustainability Strategies includes 3 main strategies; PLANET: Environment, PEOPLE: People and PROFIT: Economic/Governance which a framework for sustainability in control, collaboration, and conduct to help achieve the goals on the promise of “Healthier Family, Happier World”. We have emphasized the operation in conformity with the 7 UN SDGs
- Zero Hunger: End hunger, achieve food security and improved nutrition and promote sustainable agriculture; by selecting good quality raw materials directly from farmers
- Promoting good health and well-being for all; researching and developing new healthy and nutritious products.
- Support education and training for the development of employees and youth.
- Control business operations to reduce environmental impact and reduce greenhouse gas emissions, including waste and food waste management. Sustainable Packaging; Use of clean energy in the production process, Received the carbon footprint of the organization and products
- Supervise business operations to be efficient and transparent. To build a strong organization, including product quality, innovation, customer relationship mgnt., and risk mgnt.
- Collaborating with partners to effectively achieve sustainability goals together.
- The Company operates 451 domestic restaurants and bakery shops and 12 international restaurants.
- For over 50 years, S&P has been operating business along with domestic customers.
- We have variety of bakery and food products to serve our customers and business partners.
FY23 Net Profit was 485mb, +25mb or +5% YoY
mainly driven top line increased in all business segments and channels, higher %GP mix driven by the higher dine-in sales YoY, the continuous improvement on productivity and efficiency at factories, menu reinvention, and offset by the rental expenses increase and the higher admin costs YoY. Key contributors are stores in Hospital and Airport, higher profit sharing from JV.
FY23 Revenue was 6,224mb, +512mb or +9% YoY mainly came from the Domestic Stores +408mb or +9%, Retail and Food Service +85mb or +13% and International Stores +19mb or +7%
1. Grow Brand strength as well as recognition Thai Food in all S&P Stores through Thai Chef competition, Khao Chae and 50 Years S&P Celebration resulting in upliftment of 40% dine in sales.
2. Strong growth in Food Service and OEM segment, especially from Airlines
3. Successfully managed %Gross Profit despite of the raw materials costs increase (% GP +0.4% vs.LY) especially the continuous LEAN improvement at factories
4. Strongly Specialty Performance by exceeding the budget and successfully launch new brand “nais”
5. Awarded SET ESG Rating “A” and Excellence CG Rating 5 stars
Risk of rental rate adjustment back to full contract rate
After the COVID-19 situation began to ease, rental rates for various locations gradually returned to normal. There have been adjustments in rental rate formats from a percentage of sales to minimum payments in some areas, resulting in increased sales expenses. The company has managed expenses appropriately and increased sales to offset the increased rental costs.
Risk of fluctuating raw material prices and shortages
In recent time, Raw material prices have increased in many items such as butter, flour, eggs. The Company has been managing the situations to minimize the overall impact. Key strategic actions included key materials stock-up, volume commitment with key suppliers, sourcing for alternative materials and suppliers, redesign of menus and promotion campaigns, price adjustment for some menus, inventory and waste management, etc.
- S&P receives ESG assessment results "SET ESG Rating 2023 Level A" from SET
- S&P receives corporate governance assessment results Thai listed companies for the Corporate Governance Rating 2023 (CGR) at the 5-star level is excellence from Thai Institute of Directors (IOD)
- S&P received an award of honor “Outstanding Ethics 2023” from the Thai Chamber of Commerce
- S&P held an event to announce the final results; “National Contemporary Thai Cooking Competition on the Occasion of S&P 50th Anniversary”
- S&P Celebrates the greatest festival of happiness at the end of the year by holding the event “S&P 50th Anniversary Happy Cake & Cookie Fair”
- S&P launches 'S&P EV Truck' is the first truck which environmentally friendly and installs 'Solar Roofs Project in 2023’ at 3 factories and 1 distribution center.
| as of 28/12/23 | SNP | FOOD | SET |
|---|---|---|---|
| P/E (X) | 17.40 | 30.60 | 18.42 |
| P/BV (X) | 3.29 | 1.54 | 1.36 |
| Dividend yield (%) | 4.80 | 3.37 | 3.32 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 8,544.19 | 9,376.76 | 7,846.53 |
| Price (B/Share) | 16.60 | 18.30 | 16.00 |
| P/E (X) | 17.40 | 20.83 | 24.18 |
| P/BV (X) | 3.29 | 3.66 | 3.22 |
