BJCBJCBJCBJCOpportunity DayOpportunity Day –– 44QQ0909 && 20092009Opportunity Day Opportunity Day –– 44QQ09 09 & & 20092009

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March 10th, 2010 Berli Jucker Public Company Limited Berli Jucker Public Company Limited

ทกุๆวน

AGENDAKEY HIGHLIGHTS 4Q09 & 2009

AGENDA• KEY HIGHLIGHTS 4Q09 & 2009

• FINANCIAL HIGHLIGHTS 4Q09 & 2009• FINANCIAL HIGHLIGHTS 4Q09 & 2009

• PERFORMANCE BY BUSINESS• PERFORMANCE BY BUSINESS

• SHARE PRICE PERFORMANCE• SHARE PRICE PERFORMANCE

2

NOTE ON NOTE ON FORWARD LOOKING FORWARD LOOKING STATEMENTSSTATEMENTSSTATEMENTSSTATEMENTS

The following presentation may contain forward looking statements by the t f B li J k P bli C Li it d (“BJC”) l ti tmanagement of Berli Jucker Public Company Limited (“BJC”), relating to

financial or other trends for future periods, compared to the results for previous periods.

Some of the statements contained in this presentation that are not historical facts are statements of future expectations with respect to the financial conditions results of operations and businesses and related plans andconditions, results of operations and businesses, and related plans and objectives. Forward looking information is based on management’s current views and assumptions including, but not limited to, prevailing economic and market conditions. These statements involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in the statements as originally made. Such statements are not, and should not be constructed as a representation as to future performance of BJC. In particular, such targets should not be regarded as a forecast or projection of future performance of BJC. It should be noted that the actual performance of BJC may vary significantly from such targets.

3

AGENDA• KEY HIGHLIGHTS 4Q09 & 2009AGENDA

• FINANCIAL HIGHLIGHTS 4Q09 &

2009

• PERFORMANCE BY BUSINESS

• SHARE PRICE PERFORMANCE

4

KEYKEY HIGHLIGHTS HIGHLIGHTS 44QQ09 09 & & 2009200920092009 4Q09 2009

Sales continued to improve both QoQ and YoY while 2009 sales were slightly better than 2008

Sales increased by 2.5% while net profit attributable to equity holder increased by 16 5% from 2008were slightly better than 2008

EBIT and net profit tripled from 4Q08 and continued to show strong

increased by 16.5% from 2008

The Industry Supply Chain remained the highest sales4Q08 and continued to show strong

improvement from 3Q09remained the highest sales contributor while the Consumer Supply Chain was the highest net profit contributor

5

SALES & NET PROFIT SALES & NET PROFIT BREAKDOWNBREAKDOWNBREAKDOWNBREAKDOWN

Others3%

Others1%HSC & TSC

Sales Breakdown

2008 20093%HSC & TSC

20%

ISC46%

1%HSC & TSC20%

ISC

CSC31%

46%

CSC31%

48%

Net Profit Breakdown

Oth2008 2009

HSC & TSCISC36%

Others(3)% Others

0%

HSC & TSC31%

ISC33%

43%

6Others include IBG, INFO and other businesses

CSC24% CSC

36%

NEW PRODUCT NEW PRODUCT LAUNCHESLAUNCHESLAUNCHESLAUNCHES1Q09 2Q09 3Q09 4Q09

ISC

CSC

HSC Calci-10

TSC Refrigerants

IBG

7

AGENDAAGENDA• KEY HIGHLIGHTS 4Q09 & 2009

• FINANCIAL HIGHLIGHTS 4Q09 &

2009

• PERFORMANCE BY BUSINESS

• SHARE PRICE PERFORMANCE

8

FINANCIALFINANCIAL HIGHLIGHTS HIGHLIGHTS 4Q09 & 4Q09 & 2009200920092009

S l THB 6 175 illi S l THB 22 799 illi

4Q09 2009

Sales were THB 6,175 million, increasing of 12.8% QoQ and 7.9% YoY

Sales of all Supply Chains increased Q Q d Y Y

Sales were THB 22,799 million, increasing 2.5% from 2008

BJC was able to maintain sales of all l h i d it h ll iQoQ and YoY

Gross profit improved both QoQ and YoY, from higher gross profit of Ind strial S ppl Chain and Cons mer

supply chains despite challenging environment in 2009

Industrial Supply Chain remains a major revenue contribution representing 50%Industrial Supply Chain and Consumer

Supply Chain

Net profit attributable to equity holders was THB 440 million increasing 31 0%

revenue contribution, representing 50% of total sales, followed by Consumer Supply Chain, representing 29% of total saleswas THB 440 million, increasing 31.0%

from higher net profit of Industrial Supply Chain, and 263.6% YoY, from higher net profit of Consumer Supply

Net profit attributable to equity holders was THB 1,262 million, increasing 16.5% YoY, from higher net profit of g p pp y

Chain, g p

Consumer Supply Chain

9

KEY FINANCIAL HIGHLIGHTS KEY FINANCIAL HIGHLIGHTS 44QQ09 09 & & 2009200920092009THB MM 4Q09 4Q08 %YoY 3Q09 %QoQ 2009 2008 %YoY

Revenue from sale of goods and rendering of services 6,175 5,721 7.9 5,474 12.8 22,799 22,243 2.5

Gross profit 1,727 1,013 70.5 1,357 27.3 5,601 4,780 17.2

EBIT 691 232 197.8 492 40.4 1,894 1,709 10.8

EBITDA 1,049 562 86.7 863 21.6 3,290 3,018 9.0

Net profit 494 153 222.9 354 39.5 1,320 1,256 5.1

Attributable to :Minority interest 54 32 68.8 19 184.2 58 173 (66.5)

Equity holders 440 121 263.6 336 31.0 1,262 1,083 16.5

Key Ratios 4Q09 4Q08 %YoY 3Q09 %QoQ 2009 2008 %YoYGross profit margin 28.0 17.7 10.3 24.8 3.2 24.6 21.5 3.1

SG&A as % of sales 17 8 14 8 2 9 16 9 0 8 17 5 15 2 2 3 SG&A as % of sales 17.8 14.8 2.9 16.9 0.8 17.5 15.2 2.3

EBIT margin 11.2 4.1 7.1 9.0 2.2 8.3 7.7 0.6

EBITDA margin 17.0 9.8 7.2 15.8 1.2 14.4 13.6 0.9

10

Net profit margin (to equity holders) 7.1 2.1 5.0 6.1 1.0 5.5 4.9 0.7

BALANCE SHEET BALANCE SHEET HIGHLIGHTSHIGHLIGHTS20

1.15x 1.08x 1.08x 1.06x 1.03x1.2x

HIGHLIGHTSHIGHLIGHTS Debt to Capitalization (Times)Balance Sheet (THB BN)Assets = 23.0 BNLiabilities = 11.6 BNEquity = 11 4 BN

10

15 0.72x0.60x 0.57x 0.57x 0.53x

0.4x0.6x0.8x1.0xEquity = 11.4 BN

-

5

4Q08 1Q09 2Q09 3Q09 4Q09A sset s Liab ilit ies Equit y

0.0x0.2x0.4x

4Q08 1Q09 2Q09 3Q09 4Q09Interest -bea ring Deb t to Equity Liab ilit ies to Equity

2 4

q y g q y q y

DSCR (Times)EBITDA Interest Coverage (Times)

1 0x1.3x 1.3x

1.6x1.6x

2.4x

16.7x

20.9x

16x

18x

20x

22x

1.0x

0.3x0.8x

8.8x9.9x

13.1x

10x

12x

14x

16x

11

0.0x4Q08 1Q09 2Q09 3Q09 4Q09

8x4Q08 1Q09 2Q09 3Q09 4Q09

EBITDA Interest Coverage = EBITDA / Interest expenses DSCR = EBIT / Debt Repayment

AGENDA• KEY HIGHLIGHTS 4Q09 & 2009AGENDA

• FINANCIAL HIGHLIGHTS 4Q09 &

2009

• PERFORMANCE BY BUSINESS

• SHARE PRICE PERFORMANCE

12

INDUSTRIAL INDUSTRIAL SUPPLY SUPPLY CHAINCHAIN HighlightsSales & Gross Margin

• 4Q09 sales were THB 3,098 million, an increase of 4.6% YoY and 22.4% QoQ

CHAINCHAIN HighlightsSales & Gross Margin

2,9622,640 2,531

3,098

2 431 17.8%• Sales of Glass Packaging business continued to pick up from

previous quarter while sales of Aluminum Can and Galvanized Steel Structures businesses significantly improved both YoY and QoQ

2,431

12.4%14.8%

7.2%8.6%

• Net profit was THB 268 million, a recovery from 4Q08 and a significant increase of 111.0% QoQ

• Improving net profit mainly attributed to the better performance of Glass Packaging and Aluminum Can businesses

4Q08 1Q09 2Q09 3Q09 4Q09

Sa les (THB MM) Gross m arg in (%)

• Lower energy and raw material prices as well as selling & administrative expenses were the key contributions to the good earnings results of the Industry Supply Chain in this quarter Operating Profit & Margin

378

Net Profit & Margin

176

378

12712.2%

268

8.7%

25

1276.9%5.2%

0.1% 0.2%

4Q08 1Q09 2Q09 3Q09 4Q09

127

(33)(32)69

5.0%2.9%

13

4Q08 1Q09 2Q09 3Q09 4Q09

Op era t ing p ro fit (THB MM) Opera t ing p ro fit m arg in (%)(1.2)%(1.1)%

4Q08 1Q09 2Q09 3Q09 4Q09

Net p ro fit (THB MM) Net p ro fit m arg in (%)

INDUSTRIAL INDUSTRIAL SUPPLY SUPPLY CHAINCHAIN HighlightsSales

• 2009 sales were THB 10,700 million, a slight decrease of 0.4% YoY, while net profit was THB 432 million, a decrease of 5.3% YoYGl P k i b i t d hi h l d t d

CHAINCHAIN HighlightsSales

10,742 10,700(0.4)%(THB MM)

• Glass Packaging business reported higher sales and posted remarkable net profit growth

• The performance of Can Packaging business continued to recover

• Reasonable performance for the Galvanized Steel Structures• Reasonable performance for the Galvanized Steel Structures and Engineering Products & Services businesses despite the shrinking market demand due to the economic slowdown

• More favorable energy and key raw material prices contributed to the better performance of the group

2008 2009

10 000

15,000

to the better performance of the groupNet Profit & Margin

456 432

Soda Ash, THB / ton

5,000

10,000

Ja n Feb M a r Ap r M a y Jun Jul Aug Sep Oc t Nov Dec

432

4.2% 4.0%Aluminum USD/ ton

2008 2009

Aluminum, USD/ ton

3,000

14

2008 2009

Net Profit (THB MM)

Net Profit Margin (%)

1,000Ja n Feb M a r Ap r M a y Jun Jul Aug Sep Oc t Nov Dec

2007 2008 2009

CONSUMER CONSUMER SUPPLY SUPPLY CHAINCHAINCHAINCHAIN

• 4Q09 sales were THB 1,779 million, an increase of 9.7% YoY and 2.6% QoQ, an increase YoY was attributed to every business particularly Personal Care business

HighlightsSales & Gross Margin

1,6221,776 1,734 1,7791,775

every business particularly Personal Care business• Good consumer response of “Dozo Soseji” introduced

in 3Q09 and ongoing solid performance of other owned-brand products such as “Party” and “Campus” contributed to the strong performance of Foods

32.4% 32.3%31.9%

24 5%

27.5%g p

business• Tissue industry remained in the intense competition,

however, net profit of Tissue business continued to grow exponentially YoY

24.5%

4Q08 1Q09 2Q09 3Q09 4Q09

Sa les (THB MM) Gross m arg in (%)• Net profit was THB 133 million, a significant increase of

92.8% YoY but a decrease of 8.9% QoQNet Profit & MarginOperating Profit & Margin

Sa les (THB MM) Gross m arg in (%)

100

148

195175

143

11 2% 69

99

146133

998.4% 7 5%

8.1%11.2% 9.8%

6.2%8.3%

4Q08 1Q09 2Q09 3Q09 4Q09

695.6%

7.5%

4.3%5.6%

15

4Q08 1Q09 2Q09 3Q09 4Q09

Op era t ing p ro fit (THB MM) Opera t ing p ro fit m arg in (%)4Q08 1Q09 2Q09 3Q09 4Q09

Net p ro fit (THB MM) Net p ro fit m arg in (%)

CONSUMER CONSUMER SUPPLY SUPPLY CHAINCHAIN HighlightsSales

6,854

7,0633.0%

CHAINCHAIN • 2009 sales were THB 7,063 million, an increase of 3.0% YoY, while net profit was THB 478 million, a significant increase of 60.4% YoY

• For Foods business the key owned brand products

HighlightsSales(THB MM)

6,854 • For Foods business, the key owned-brand products such as “Party” and “Campus” and the 3rd party products such as “Kato” and “Droste” still showed the strong performance throughout the year

• Profitability hit the high record for Tissue business due

2008 2009

y gto successful cost saving programs, improving production efficiency and decreasing trend of paper pulp price

• Personal Care business posted ongoing outstanding f f th b i i f th

30

performance from the beginning of the year• Logistics business continued to expand with increasing

warehouse utilization rate

Net Profit & MarginPulp, THB / Kg

478

-

15

Ja n Feb M a r Ap r M a y Jun Jul Aug Sep Oc t Nov Dec

298

6.8%

Ja n Feb M a r Ap r M a y Jun Jul Aug Sep Oc t Nov Dec2007 2008 2009

Selected New Products4.3%

2008 2009

16

Net Profit (THB MM)

Net Profit Margin (%)

2008 2009

HEALTHCARE & TECHNICAL HEALTHCARE & TECHNICAL SUPPLY SUPPLY CHAINCHAIN HighlightsSales & Gross Margin

• 4Q09 sales were THB 1,147 million, an increase of 9.6% YoY and 8.1% QoQ

• For the Healthcare Supply Chain the Medical Equipment

CHAINCHAIN HighlightsSales & Gross Margin

1,047 1,122 1,0611,147

1,128

• For the Healthcare Supply Chain, the Medical Equipment Division posted the strongest sales growth while the Medical Imaging Division posted the strongest net profit growth YoY

• For the Technical Supply Chain Graphics businesses

38.7% 36.2% 35.1%36.2% 34.9%

• For the Technical Supply Chain, Graphics businesses reported the strongest sales growth both YoY and QoQ while Specialties business reported remarkable net profit improvement YoY

• Net profit was THB 106 million a decrease of 7 8% YoY but

4Q08 1Q09 2Q09 3Q09 4Q09

Sa les (THB MM) Gross m arg in (%)• Net profit was THB 106 million, a decrease of 7.8% YoY but

an increase of 14.0% QoQ

Net Profit & MarginOperating Profit & Margin

141 133 130145

168

14.9%12.2% 12.6%11.9%13.5%

115

8493

106124

10.9%8.8% 9.2%11.0%

7.5%

4Q08 1Q09 2Q09 3Q09 4Q09

17

4Q08 1Q09 2Q09 3Q09 4Q09

Op era t ing p ro fit (THB MM) Opera t ing p ro fit m arg in (%) Net p ro fit (THB MM) Net p ro fit m arg in (%)

HEALTHCARE & TECHNICAL HEALTHCARE & TECHNICAL SUPPLY SUPPLY CHAINCHAIN HighlightsSales

• 2009 sales were THB 4,458 million, an increase of 2.1% YoY, while net profit was THB 407 million, a decrease of 23.9% YoY

CHAINCHAIN HighlightsSales

4,365 4,4582.1%

(THB MM)

• For the Healthcare Supply Chain, sales improved for all businesses particularly the Medical Equipment Division

• For net profit, the Medical Equipment Division and the Medical Imaging Division posted the outstanding earnings compared to 2008compared to 2008

• 2009 was a reasonable year for the Technical Supply Chain, as the business was able to sustain sales to be in line with the same level as last year despite the economic slowdown

2008 2009slowdown

• The Specialties business in Vietnam started off with the promising outlook

Net Profit & Margin

535

407

12.3%9.1%

2008 2009

Refrigerants

18

Net Profit (THB MM)

Net Profit Margin (%)

AGENDA• KEY HIGHLIGHTS 4Q09 & 2009• KEY HIGHLIGHTS 4Q09 & 2009

• FINANCIAL HIGHLIGHTS 4Q09 & 2009FINANCIAL HIGHLIGHTS 4Q09 & 2009

• PERFORMANCE BY BUSINESSPERFORMANCE BY BUSINESS

• SHARE PRICE PERFORMANCESHARE PRICE PERFORMANCE

19

SHARE PRICE SHARE PRICE PERFORMANCEPERFORMANCEPERFORMANCEPERFORMANCE1-Year Share Price Performance

BJC THB 5 55

6.0

BJC THB 5.55+26.1%5.5

5.0

4.5

4.0

Ma

r-09

Ap

r-09

Ma

y-09

Jun-

09

Jul-0

9

Aug

-09

Sep

-09

Oct

-09

No

v-09

Dec

-09

Jan-

10

Feb

-10

Ma

r-10

20

Source: The Stock Exchange of Thailand as of 8 March 2010

PEERS PEERS COMPARISONCOMPARISON

105.1 7.2%6.3% 5.9%

COMPARISONCOMPARISON Dividend Yield (%)Market Cap (THB BN)

35.922.0 17.9 12.7 8 8 8 4 7 3

4.5% 4.4%3.7% 3.6% 3.4%

2.6%

1.2%8.8 8.4 7.3 3.7 2.8 2.3 0.6 0.6 0.4

CPA

LL

BIG

C

MA

KRO

HM

PRO

ROBI

NS

BJC SP

I

SPC

LOXL

EY

GLO

BAL IT

MID

A

SSE

SIN

GER IT

MA

KRO

BJC

HM

PRO

ROBI

NS

BIG

C

SPC

CPA

LL SPI

GLO

BAL

LOXL

EY

MID

A

SIN

GER SS

E

21.1x

15 6

5.6x

P/BV (times)P/E (times)

15.6x14.4x 13.8x 13.2x12.4x 11.8x 11.5x10.3x

9.0x7.7x 7.0x

3.4x2.5x 2.4x

2.0x 1.9x1.2x 1.2x 1.1x 0.9x 0.8x 0.8x 0.7x

CPA

LL

MPR

O

AKR

O IT

BIG

C

OBI

NS

ING

ER

SPC

OXL

EY SPI

LOBA

L

BJC

MID

A

SSE

0.7x0.2x

CPA

LL

HM

PRO

MA

KRO IT

BIG

C

ROBI

NS

SPC

GLO

BAL

SSE

LOXL

EY

SIN

GER

BJC SP

I

MID

A

21

C HM

M RO SI LO GL

Data as of 8 March 2010Note: 1) Based on 2009 financials

2) MIDA 2009 EPS was Bt 0.01 and SSE 2009 EPS was negative3) No dividend paid for LOXLEY, MIDA, SINGER and SSE

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