Sappe Public Company Ltd · SET:SAPPE
Sappe Public — Q3 2025 Earnings Presentation
53 slides from Sappe Public's earnings presentation, November 2025
Slide 1: Performance Highlights Q3 2025
Performance Highlights Q3 2025 SAPPE PUBLIC COMPANY LIMITED 1
Slide 2: Agenda
AGENDA 1. SAPPE Overview 2. Financial Performance Q3’2025 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 Berhad, Malaysia “SEVENTEEN” as its 2021 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 ingredients Other innovative pro
Slide 8: Financial Performance Q3'2025
Financial Performance Q3’2025 11
Slide 9: Revenue Breakdown & Net Profit
Revenue Breakdown & Net Profit Revenue Net Profit Q3:2025 • The Revenue was at 1,349 mb, -13.9% YoY [IB:DM = 72% : 28%] from IB sales -18.8% and the DM sales +2%. • Net Profit was at 183 mb, -39.6% YoY 13
Slide 10: Cost of Goods Sold by Quarter
Cost of Goods Sold by Quarter Utilization Rate (Beverage) 1.2% Q3:2025 COGS was 56.5%, up 2.5 pts YoY, mainly due to FX impact (-THB 39 m).Lower RM/PM costs provided a THB 6 m gain, partially offsetting the FX impact. COGS slightly increased by 0.8 pts QoQ, also driven by FX movement. 15
Slide 11: SG&A
SG&A Selling Expenses Admin Expenses 2025 • %Selling expenses were 15.8%, increased 1.3 %QoQ, mainly due to fixed marketing expenses that support long-term growth plans. • Admin Expenses decreased from 123 mb to 117 mb (-20.6% YoY). 16
Slide 12: Q3'2025 Million Baht
Q3’2025 100 1,349 Million Baht COUNTRIES TERRITORIES 17
Slide 13: 9M'2025 Million Baht
9M’2025 100 4,039 Million Baht COUNTRIES TERRITORIES 18
Slide 14: Q3'2025 (YoY) Top Line Growth by Regions
Q3’2025 (YoY) TOP LINE GROWTH BY REGIONS Europe Q3’2025 0% ME & 1,349 Million Baht Others -21.9% America Asia -19.1% -26.8% Thailand +2% 19
Slide 15: Q3'2025 (QoQ) Top Line Growth by Regions
Q3’2025 (QoQ) TOP LINE GROWTH BY REGIONS Europe Q3’2025 +10.0% ME & 1,349 Million Baht Others -22.0% America Asia +19.5% -24.3% Thailand -14.3% 20
Slide 16: 9M'2025 (YoY) Top Line Growth by Regions
9M’2025 (YoY) TOP LINE GROWTH BY REGIONS Europe 9M’2025 -43.8% ME & 4,039 Million Baht Others -48.0% America Asia -26.0% -26.9% Thailand +19.1% 21
Slide 17: Sequential Improvement in Sales Performance
Sequential Improvement in Sales Performance • Sales decline has gradually narrowed quarter by quarter, indicating improving market conditions and steady recovery momentum.
Slide 18: Business Updates
Business Updates 23
Slide 19: International Markets
INTERNATIONAL MARKETS 24
Slide 20: 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 chanel • Brand Love • Trade scheme vs Availability, • Brand of Choice Visibility, Affordability 25
Slide 21: 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 26
Slide 22: Overseas Availability
| o ovERgEAS : AVAILABILITY
Slide 23: Zone: Asia
Zone: Asia Sales 429 Million Baht Growth -26.8% YoY, -24.3% QoQ ❑ Asia contributed 31.8% in Q3’2025 ❑ Asia softened amid a challenging macro Hong Kong Taiwan environment and heightened competition in South Korea, while Philippines Indonesia faced short-term distributor issues. India continued to per
Slide 24: Channel Contribution
Key Countries KOREA Market PHILIPPINES Market INDONESIA Market Channel Contribution 29
Slide 25: Mogu Mogu Marketing Activities
Mogu Mogu Marketing Activities 33
Slide 26: Mogu Mogu Marketing Activities
Mogu Mogu Marketing Activities 34
Slide 27: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 35
Slide 28: Zone: Europe
Zone: Europe Sales 281 Million Baht Growth 0 % YoY, +10% QoQ ❑ Europe contributed 20.9% in Q3’2025 ❑ Sales as of Q3 for the EU region continued to show improvement compared with Q2, reflecting a stabilizing trend across the market. ❑ QoQ performance also strengthened, with key countries such as the
Slide 29: Mogu Mogu France Market
France Market Mogu Mogu Superstar Fruit Juice Drink Channel Contribution 37
Slide 30: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 38
Slide 31: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities RECIPE MOCKTAIL SECRET STORY 3D HERO SUMMER SWIMMING POOL (organic )
Slide 32: Zone: Middle East & Others
Zone: Middle East & Others Sales 147 Million Baht Growth -21.9% YoY, -22% QoQ ❑ Middle East & Others contributed 10.9% in Q3’2025. ❑ Performance was impacted by external factors, including geopolitical uncertainty and regional LIBYA market volatility. However, our continued market expansion and port
Slide 33: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 41
Slide 34: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 42
Slide 35: Zone: America
Zone: America Alaska Sales 112 Million Baht Growth -19.1% YoY, +19.5% QoQ ❑ America contributed 8.3% in Q3’2025 ❑ North America softened due to rising tariffs, which increased price sensitivity. However, we strengthened Gen Z engagement through the “My First Mogu Mogu” tasting campaign and bag promo
Slide 36: Mogu Mogu in Stores & Marketing Activities
Mogu Mogu in Stores & Marketing Activities 44
Slide 37: Domestic Market
Domestic Market 45
Slide 38: Key Activities Highlight in Q3
KEY ACTIVITIES HIGHLIGHT IN Q3 สดชื่นแบบรักตัวเอง Sustain Phase: UGC KOLs & School Tours to maintain brand momentum. ONLINE OFFLINE UGC School Tour
Slide 39: Key Activities Highlight in Q3
KEY ACTIVITIES HIGHLIGHT IN Q3 ONLINE ACTIVITIES Utilized teenage KOLs and targeted ads to reach the young audience on TikTok. COLLAGEN FIBER FLW : 463K khawpunchaya FLW : 467K pp_06.rx khawpunchaya pp_06.rx FLW : 463K FLW : 467K KOL KOL OFFLINE ACTIVITIES Conducted on-ground sampling giveaways at u
Slide 40: Key Activities Highlight in Q3
KEY ACTIVITIES HIGHLIGHT IN Q3 บลูทำใสแต่ ทำถึง ONLINE OFFLINE Branded Post Consumer Page Youtube Ads KOLs
Slide 41: Key Activities Highlight in Q3
KEY ACTIVITIES HIGHLIGHT IN Q3 MAR 25 Branded Video x 3, TikTok Kol x 10 Consumer Page Branded x 1, TikTok Kol, APR 25 7-11 Promotion Page @naraaniwat8 1.4M Follower
Slide 42: Outlook: All Coco Q3'25
OUTLOOK : ALL COCO Q3’25 Revenue 20 Net Profit 15% Millions 18 11% 10% 84% 77% 77% 16 8% 7% 134 141 136 14 5% 12 0% +1% YOY +56% YOY 2 10 9 Volume +55% YoY +24% QoQ 2 -5% -4% QOQ 8 14 Volume +43% QoQ 6 12 -10% 3 4 9 0 0 -15% 2 0 -20% Q3 2 Q2 25 Q3 25 Q3'24 Q2'25 Q3'25 In rial S o Re ail OEM O er Net
Slide 43: Level up From Organic to Regenerative Farming
Level up From Organic to Regenerative Farming Today, All Coco proudly sources from more than 3,400 Rais (544 Hectare) certified organic farms. By 2027, we aim to further strengthen our sustainability journey by transitioning 50% of our network toward Regenerative Organic Farming (ROC). This shift wi
Slide 44: 2026 Outlook
2026 Outlook INTERNATIONAL BUSINESS DOMESTIC MARKET Brand GloCalization Grow base brands TARGET Strategic channel Expansion NPD focused GROWTH Diversify portfolio +15% Collaboration YOY Future Growth Future Growth 52
Slide 45: Production Facility
Production Facility State-of-the-art Production Facility to Support Scalable Growth Klong 13 factory Projects under construction Phatumthani, 2 Manufacturing buildings Klong 13 5 Beverage lines 7 2 (with 1 BOI-approved Powder filling lines New production lines line,THB 275m) 3 In-house PET • 2027 (+
Slide 46: SAPPE's Sustainability
SAPPE’s « Sustainability
Slide 47: We better people's lives through our innovative spirit
We better people's lives through our innovative spirit. CREATIVE EXPLORATION DISTRIBUTION
Slide 48: Sappe Sustainable Policy
Sappe Sustainable Policy Economic Social Environment Build Sustainable Economic Promote Quality of Life of Our Promote Sustainable Environment Growth Key Players to Grow Together with Innovation and Technology
Slide 49: Social Performance
SOCIAL PERFORMANCE 33.6% Healthier 100 Countries 26 Innovative Products Reached Products of total portfolio promoting better choices for consumers. Delivering quality beverages Expanding consumer choices worldwide (Target ≥ 50% by (Goal: Global (Target: >20 new products 2030) Brand) annually)
Slide 50: Environment Performance
ENVIRONMENT PERFORMANCE Sustainable Packaging & Eco Design LABEL 100% BOTTL PVC >> PET 25% E RPET* (EU Market) *RPET for Global – already used 25% in EU and study to apply 30% rPET by 2030 RPET for Thailand – test 25% RPET to be ready for BD & Aloe bottle by Dec. 2025
Slide 51: Q&A
Q&A 75
Slide 52: www.sappe.com
WWW.SAPPE.COM 76
Slide 53: Investor Relations Contact
ติดต่อนักลงทุนสัมพันธ์ 71 ตึก SP ARCADE ชั้น 3 ถ.รามคาแหง แขวงหัวหมาก เขตบางกะปิ กรุ งเทพฯ 10240 Tel. 095-7476265 E-mail : [email protected] Line ID : sappeir 77