Sappe Public Company Ltd · SET:SAPPE
Sappe Public — Q2 2025 Earnings Presentation
51 slides from Sappe Public's earnings presentation, September 2025
Slide 1: Performance Highlights Q2 2025
Performance Highlights Q2 2025 SAPPE PUBLIC COMPANY LIMITED 1
Slide 2: Agenda
AGENDA 1. SAPPE Overview 2. Financial Performance Q2’2025 3. Business Updates 4. SAPPE’s Sustainability 3
Slide 3: SAPPE Overview
SAPPE Overview 4
Slide 4: Who We Are
VISION WHO WE ARE Becoming the preferred and trusted global brand driven by a team of passionate and synergistic top talents passionately working happily together in a dynamically innovative workplace. มุง่ สูแ่ บรนด์ระดับโลกที่นา่ เชื่อถือ ด้วยองค์กรที่สร้างสรรค์อย่างไม่หยุดนิ่ง ร่วมกันกับทีมที่มีค
Slide 5: Our Journey to Global Brand
Our Journey to Global Brand Internationalization Phase 2024 Succeed in UK 2022 - 2023 Announced K-Pop Sappe x Power Root boy band 2021 Berhad, Malaysia “SEVENTEEN” as its Growth Phase “First Global Brand Sappe x Succeed in South Ambassador” for 2019 Workpoint Korea and France with Korea & France Mog
Slide 6: Sappe Structure
Sappe Structure Sappe PCL SAPPE HOLDING (100%) ALL COCO (51%) Domestic International OEM Danone Sappe (25%) Own Brands Own Brands M-Intelligence (16.2%) and Connect X (16.2%) Sappe Philippines Corporation (100%) Distributor Distributor Dormant Company • Sappe HK • Sappe HK Trading Collaborate • Sapp
Slide 7: Product Categories
Product Categories Large Portfolio with Market Leading Brands and Products Juice Drinks Functional Drinks Functional Powders Healthier Snacks Supplements & Others Unique and refreshing juices Range of products targeting Instant powders for dietary Snacks with healthy Other innovative products – beau
Slide 8: Innovation is the Core of Our DNA
Innovation is the Core of Our DNA 3 Pillars of Innovation Strategies In-house Innovation Business Partnership InnoStudio Internal division to create innovative Relationship with leading enterprises Innovative ideas x Local goodness products Local Creativity goodness New Product Y2025 : 20 SKUs Q1’20
Slide 9: Financial Performance Q2'2025
Financial Performance Q2’2025 10
Slide 10: Q2'25 Key Financial Highlights
Q2’25 Key Financial Highlights Q2’25 Total Revenue Q2’25 Gross Margin 1,580 MB 44.3% -23.3% YoY -2.8 pts YoY Q2’25 SG&A (%) Q2’25 Net Profit 27.3% 25% 21.3% 27.3% 248 MB +2.3 pts YoY -39.6% YoY 11
Slide 11: Revenue Breakdown & Net Profit
Revenue Breakdown & Net Profit Revenue Net Profit Q2:2025 • The Revenue was at 1,548 mb, -22.5% YoY [IB:DM = 71% : 29%] and +35.5% QoQ. • Net Profit was at 248 mb or 16.0% of sales , -39.6% YoY and +10.9% QoQ. 12
Slide 12: Cost of Goods Sold by Quarter
Cost of Goods Sold by Quarter Utilization Rate (Beverage) Q2:2025 %COGS was at 55.7%, higher than last year 2.8 pts. However, if we normalize %COGS due to the impact of FX rates which reduced sales revenue, it was 52.7% or lower than last year by 0.2 pts. 13
Slide 13: SG&A
SG&A Selling Expenses Admin Expenses Q2:2025 • %Selling expenses was 19.3%, increased 1.5 pts YoY mainly due to marketing activities. • Admin Expenses decreased from 144 mb to 123 mb (-15.3% YoY), lower consulting fees -13 mb. 14
Slide 14: Q2'2025 Revenue Million Baht
Q2’2025 100 1,548 Million Baht COUNTRIES TERRITORIES 15
Slide 15: H1'2025 Revenue Million Baht
H1’2025 100 2,690 Million Baht COUNTRIES TERRITORIES 16
Slide 16: Q2'2025 (YoY) Top Line Growth by Regions
Q2’2025 (YoY) TOP LINE GROWTH BY REGIONS Europe Q2’2025 -49.6% ME & 1,548 Million Baht Others -46.9% America Asia -26.6% -15.2% Thailand +31.2% 17
Slide 17: Q2'2025 (QoQ) Top Line Growth by Regions
Q2’2025 (QoQ) TOP LINE GROWTH BY REGIONS Europe Q2’2025 +127.4% ME & 1,548 Million Baht Others +54.1% America Asia +60.9% +24.9% Thailand +12.1% 18
Slide 18: H1'2025 (YoY) Top Line Growth by Regions
H1’2025 (YoY) TOP LINE GROWTH BY REGIONS Europe H1’2025 -69.3% ME & 2,690 Million Baht Others -63.8% America Asia -35.7% -37.6% Thailand +26.5% 19
Slide 19: Business Updates
Business Updates 20
Slide 20: International Markets
INTERNATIONAL MARKETS 21
Slide 21: International Business Journey
International Business Journey 01 02 03 Trading Model Rising Star model Consumer Market (Gems) • Rebate scheme • Expand coverage • Consumer engagement • Minimize investment • In-depth channel • Brand Love • Trade scheme vs Availability, • Brand of Choice Visibility, Affordability 22
Slide 22: Champion Product
Champion Product • Fruit flavored drink with Nata de coco • Full of extra-large Nata de coco cubes • Variety of choices Naturally Yours with Aloe Vera Cube 23
Slide 23: Overseas Availability
| o OVERS EAS : AVAILABILITY
Slide 24: Zone: Asia
Zone: Asia Sales 567 Million Baht Growth -15.2% YoY, +24.9% QoQ ❑ Asia contributed 36.6% in Q2’2025 ❑ The Company exclusive Bubble Gum and Cotton Hong Kong Taiwan Candy flavors launched at CU in South Korea and supported by the “You Gotta Earn” campaign to boost traffic and brand engagement. Philipp
Slide 25: Channel Contribution
Key Countries KOREA Market PHILIPPINES Market INDONESIA Market Channel Contribution 26
Slide 26: Mogu Mogu Marketing Activities
Mogu Mogu Marketing Activities 27
Slide 27: Monthly Performance Meeting / Thematic Branding Video
THEMATIC BRANDING VIDEO MERMAN THEMATIC MONTHLY PERFORMANCE MEETING SLOTH BRANDING VIDEO TREEAGER Respect Efficient Structured Polite Engaging Clear Time
Slide 28: Mogu Mogu Marketing Activities
Mogu Mogu Marketing Activities 29
Slide 29: Mogu Mogu Marketing Activities
Mogu Mogu Marketing Activities KOLs 30
Slide 30: Zone: Europe
Zone: Europe Sales 256 Million Baht Growth -49.6% YoY, +127.4% QoQ ❑ Europe contributed 16.5% in Q2’2025 ❑ The decrease was primarily driven by the UK and France markets, where high carry-over inventory from the end of 2024 impacted sales volumes. In terms of sell-out performance, both the UK and Fr
Slide 31: Mogu Mogu France Market
France Market Mogu Mogu Superstar Fruit Juice Drink Channel Contribution 33
Slide 32: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 34
Slide 33: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities
Slide 34: Zone: Middle East & Others
Zone: Middle East & Others Sales 188 Million Baht Growth -46.9% YoY, +54.1% QoQ ❑ Middle East & Others contributed 12.2% in Q2’2025. ❑ In the Middle East, the strategy focuses on expanding LIBYA visibility in key hypermarkets and supermarkets, supported by in-store promotions, targeted social media
Slide 35: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 37
Slide 36: Zone: America
Zone: America Alaska Sales 93 Million Baht Growth -26.6% YoY, +60.9% QoQ ❑ America contributed 6% in Q2’2025 ❑ In North America, we expanded Mogu Mogu’s presence by listing in regional chains in the USA and entering national chains such as Loblaws in Canada. Brand reach was further supported by cons
Slide 37: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 40
Slide 38: Domestic Market
Domestic Market 41
Slide 39: Key Activities Highlight in Q2
KEY ACTIVITIES HIGHLIGHT IN Q2 สดชื่นแบบรักตัวเอง Brand Ads 5 Version KOLs Consumer Pages
Slide 40: Key Activities Highlight in Q2
KEY ACTIVITIES HIGHLIGHT IN Q2 # สวยเฟรชทัน tea’ KOLs OTT Consumer Pages
Slide 41: Key Activities Highlight in Q2
KEY ACTIVITIES HIGHLIGHT IN Q2 บลูใสๆแต่รสชาติอย่างปั่ น ONLINE OFFLINE Branded Post Consumer Page Gen Z KOLs
Slide 42: Key Activities Highlight in Q2
KEY ACTIVITIES HIGHLIGHT IN Q2 Branded Video x 3, TikTok Kol Consumer Page Branded x 1, TikTok Kol, MAR 25 APR 25 7-11 Promotion Page @naraaniwat8 มิลค์เศษใจ 1.4 M Follower 1.4M Follower 9.2K Like, 4.4K Share
Slide 43: Outlook: ALL COCO Q2'2025
OUTLOOK : ALL COCO Q2’2025 Revenue Net Profit 71% 85% 77% 105 142 141 +33% YOY +91% YOY -1% QOQ +22% QoQ The Revenue was at 140.9 mb or 33% YoY (OEM +264% , Retail +35% , Industrial +27%)
Slide 44: SAPPE's Sustainability
cS SAPPE’s w Sustainability
Slide 45: We better people's lives through our innovative spirit
We better people's lives through our innovative spirit. CREATIVE EXPLORATION
Slide 46: Sappe Sustainable Policy
Sappe Sustainable Policy Economic Social Environment Build Sustainable Economic Growth Promote Quality of Life of Our Promote Sustainable Environment Key Players to Grow Together with Innovation and Technology
Slide 47: Social Performance
SOCIAL PERFORMANCE สินค้าทีส่ ่งเสริมสุขภาพ เทียบกับสินค้าทัง้ หมดของบริษทั ส่งมอบสินค้าไปสูผ่ ู้บริโภค เพิ่มทางเลือกให้ผบู้ ริโภค 33.6% 100 ประเทศ 26 ผลิตภัณฑ์
Slide 48: Environment Performance
ENVIRONMENT PERFORMANCE น้ ำ พลังงำน บรรจุภณ ั ฑ์ ของเสีย Zero Discharge ลดการใช ้พลังงานจากการไฟฟ้ า ฉลากบรรจุภณ ั ฑ ์เป็ น PET รีไซเคิลและนากลับมาใช ้ใหม่ 100% 2,670,231 100% 100% ่ั กิโลวัตต ์-ชวโมง
Slide 49: Environment Performance
ENVIRONMENT PERFORMANCE กำรปล่อยก๊ำซเรือนกระจก 2566 2567 เป้ ำหมำย ***ลดลง 10% ้ - ลดการปล่ อ ย GHG จากกิจ กรรมใน SCOPE 1 จากปี 2567 1. ระยะสัน (ที่ 5,049 TONCO2E) ใหล ้ ดลง 30% ภำยในปี พ.ศ. 2568 2. ระยะกลาง - CARBON NEUTRALITY ภำยในปี พ.ศ. 2593 3. ระยะยาว - NET ZERO EMISSIONS ภำยในปี พ.ศ. 2608
Slide 50: Q&A
Q&A 63
Slide 51: www.sappe.com
WWW.SAPPE.COM 64