Big C Supercenter
Q2 2015 Earnings
27th July 2015
1
Disclaimer
This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of
any offer to purchase or subscribe for, any securities of Big C Supercenter Public Company Limited (the “Company”), nor shall it or
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therefor.
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regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of
operations and financial condition of the Company. Such forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of
various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years.
The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of
the Company.
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except pursuant to an exemption from registration therefrom.
2
Agenda
Overview
Financial Performance
Operations
Conclusion
Appendix
3
Overview
Financial performance
Positive core food business same-store-sales trend despite slight retail sales decline of -1.5%
driven by high non-food comparatives from 2014 World Cup.
 Rental income continued exhibiting resilient growth of 5.0% y-o-y
 Continued successful cost optimization initiatives leading to increased operating profit
margins and lower financial costs
 …enabled us to deliver to bottom line with solid net income growth of 4.7% y-o-y.

Operations
Expansion speed picking up with opening of 1 hypermarket, 3 Big C Market, 14 Mini Big C and
4 Pure drugstores opened during the second quarter.
 Space reflow completed in 58 stores, and construction work started on 2 Alcudia renovation
locations, construction work completed in 1 right-sizing location, and implementation work
on-going on 2 locations.
 New Fresh Food DC fully up and running in late May.

4
Agenda
Overview
Financial Performance
Operations
Conclusion
Appendix
5
Strong dual retail-property model continuing to deliver to
bottom line despite lackluster economic environment
(THB millions)
Q2 2015
Q2 2014
% change
Retail Sales
30,661
31,141
-1.5%
Gross Profit
4,590
4,737
-3.1%
Gross Profit Margin (1)
15.0%
15.2%
-24bps
Rental and Service Income
2,505
2,387
+5.0%
Recurring Operating Profit(2)
2,613
2,586
+1.1%
Recurring Operating Profit Margin (1)(2)
8.5%
8.3%
+22bps
Net Income attributable to the parent
1,978
1,889
+4.7%
Recurring EBITDA(2)
3,508
3,576
-1.9%
Recurring EBITDA Margin (1)(2)
11.4%
11.5%
-4bps
Note:
(1) Retail Sales is used as denominator in margin calculations
(2) EBITDA excluding share of profit/loss in investment to associate
6
Strong dual retail-property model continuing to deliver to
bottom line despite lackluster economic environment
Retail Sales
Rental and Service Income
Net Income
-1.5%
+5.0%
+4.7%
Retail sales
 Retail sales declined to THB 30.7 billion, down -1.5% y-o-y, impacted by high
non-food comparatives from 2014 world cup, however our core food sales were
positive and we continued seeing increasing customer traffic.
Rental Income
 Rental income reached THB 2.5 billion, a continued solid growth of +5.0%
y-o-y, due to successful management of lettable space and added rental area.
Recurring EBIT
 Recurring EBIT reached THB 2.6 billion, up +1.1% y-o-y, with recurring EBIT
margin of 8.5% up +22bps y-o-y.
Net Income
 Net income reached THB 2.0 billion, up +4.7% y-o-y, driven by abovementioned,
continued cost optimization and productivity enhancement initiatives, and lower
finance costs.
7
Agenda
Overview
Financial Performance
Operations
Conclusion
Appendix
8
Priorities 2015 and beyond
1
Omni-channel player and strong dual
retail-property model
2
Price leadership, cost efficiency and
operational excellence
3
Customer service excellence
4
Continued expansion
5
Community focus
9
Omni-channel player
E-commerce
Mini Big C
Services
 Collaboration between Big C and Cdiscount in marketing
further extended:
 Joint campaign with Big C Shopping online in Home Line
category
 Continued Bangchak partnership
 14 Mini Big C opened at Bangchak service stations
during the quarter, taking the total number to 109 at the
end of June
 Launched new ready-to-eat items, specifically targeting
service station customers
 Plan to further expand and strengthen RTE
assortment in Q3
 Additional services and customer convenience added to
stores where we have done asset optimization through
moving POS units.
 In Q2, 8 locations have been equipped either with new
Big C Optical store, additional Merchandise displays or
with increased convenience through shopping cart areas
and additional store entrance area
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Strong dual retail-property model
Renovations
 Space reflow:
 Completed work in 58 stores during 1H 2015
 Additional 37 stores will be completed during
2H 2015
 Alcudia right-sizing:
 11 locations in pipeline
 Competed 1 store (Suwintawong)
 2 locations currently under implementation
process and other 3 locations on schedule to
be completed with in 2015
 5 locations under process and construction
targeted to start during 2015
 Alcudia renovations:
 Construction work ongoing on both locations
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Cost efficiency and operational excellence
Supply chain
developments
Utility expense
saving initiatives
 Moved all stores to new Fresh Food DC:
 Last stores moved to new site in late May and
since closed all old fresh food facilities.
 State-of-the-art DC with four temperature zones
 Average dwell time of merchandise in the new
Fresh DC has been reduced by half compared to
previously
 Opening of our new Fresh Food DC marked the
completion of our distribution center revamp
started in 2013
 Mini Big C DC (Rangsit Klong 6) – Over 23,000
sqm
 Cross Dock DC (Bang Pli) – Over 24,000 sqm
 Fresh Food DC (Chachoengsao) – Over 18,000
sqm
 Painting store roofs with reflective paint
 Lowering temperature inside store and reducing
electricity bill
 Currently painting has been completed in 36 Mini
Big C stores; additional 34 stores to be
completed within Q3
12
Continued expansion
Big C’s store network at the end of Q2 2015
Retail and Rental Area Q2 2015²
( X ) stores opened during 2015
North:
16 HM stores (+1)
5 Market
20 Pure (+2)
Income per person1
= THB 92,000
Central & West:
12 HM stores
5 Markets (+1)
57 Mini Big C (+5)
19 Pure (+1)
Income per person1
= THB 170,000
Greater Bangkok:
51 HM stores
9 Markets
200 Mini Big C (+4)
59 Pure (+3)
Income per person1
= THB 360,000
1
2
North East:
19 HM stores
11 Market (+2)
12 Mini Big C (+7)
29 Pure (+2)
Income per person1
= THB 68,000
East:
14 HM stores
2 Markets
71 Mini Big C
15 Pure (+1)
Income per person1
= THB 415,000
South:
12 HM stores
8 Markets
2 Mini Big C (+2)
17 Pure
Income per person1
= THB 125,000
Average per-capita Gross Regional Product (GRP) p.a. 2012; Source: NESDB
Hypermarket and Big C Market
# of stores: 164
# of stores: 158
Total space: c. 1,021,000 sqm
Total space: c.769,000 sqm
2015 Expansion and renovation targets
 1 Hypermarket
 2nd and 3rd store to open in 2016
 18 Big C Markets
 Mini Big C: c.100 owned stores, and
c.50 franchise stores with Bangchak
 Alcudia renovations
 2 Alcudia renovations
 11 Alcudia right-sizing renovations
13
Community focus - Our CSR activities during Q2
Joining hands for
better community
– 2nd year
Health promotion
 Donated nursing room for school in remote area in
Chiang Mai province:
 Part of our bottom-up CSR as we selected a number
of projects with local communities and the Ministry
of Interior. Then our customers voted their favorite
projects to be implemented during the year.
 Big C Mini Marathon:
 Organized a charity run together with Ratchasuda
Foundation to raise funds to support young people
suffering from visual impairment.
 World Milk Day:
 Donated 60,000 liters of milk with Dutchmill to
underprivileged students via border police schools.
 Big C Food Bank:
 Donated cooking raw materials to 4 emergency day
care centers under Slum Child Foundation.
 Big C Food Bank at Nan province :
 Supported Phufa Development Center by creating
chicken breeding program for 15 villages at Bo Khua
district to provide nutrition for local communities,
especially for children.
14
Community focus - Our CSR activities during Q2
Environmental
development
Engaging with
local communities
and partners
 Plastic Bag Reduction:
 Signed MOU with government as the member of
alliances in plastic bag reduction campaign.
 Green Product Campaign:
 Promoted green products via Green Card
Application in partnership with Ministry of Natural
Resources.
 Green Roof Project:
 Continued the successful Green Roof Project in
partnership with Tetrapak and 360 Degree News,
Channel 3.
 BQL Project for Farmers:
 Invited media visit to Vasana melon farm to
introduce Big C contract farming program (BQL)
designed to improve farmers quality of living.
 “Eat Thai Fruit, Use OTOP, Give Happiness to
Thailand” campaign:
 Launched campaign to support Thai agriculture and
OTOP projects in partnership with Ministry of
Commerce.
 Supplier Charter of Ethics Training for PL Suppliers:
 500 suppliers joined the training on May 2015.
15
Agenda
Overview
Financial Performance
Operations
Conclusion
Appendix
16
Conclusion
Core food business remained positive with continued increasing
customer traffic trend, despite lacklustre economic conditions
Resilient rental income and cost optimization initiatives enabled
us to continue delivering solid bottom line growth
Work to strengthen our existing store network well under way
State-of-the-art distribution centres in place with new Fresh Food
DC fully up and running since late May
Our first half results once again highlighted our ability to respond
to challenges and we remain confident in our active management
to continue delivering in the future
17
Agenda
Overview
Financial Performance
Operations
Conclusion
Appendix
18
Financial Performance – Consolidated 1H 2015
(THB millions)
1H 2015
1H 2014
% change
Retail Sales
60,429
60,345
+0.1%
Gross Profit
8,505
8,625
-1.4%
Gross Profit Margin (1)
14.1%
14.3%
-22bps
Rental and Service Income
4,882
4,656
+4.8%
Recurring Operating Profit(2)
4,603
4,427
+4.0%
Recurring Operating Profit Margin (1)(2)
7.6%
7.3%
+28bps
Net Income attributable to the parent
3,418
3,145
+8.7%
Recurring EBITDA(2)
6,431
6,377
+1.0%
Recurring EBITDA Margin (1)(2)
10.6%
10.6%
+8bps
Note:
(1) Retail Sales is used as denominator in margin calculations
(2) EBITDA excluding share of profit/loss in investment to associate
19
Profit and Loss Statement – Q2 2015 and Q2 2014
In THB m
Sales
Gross Profit
Rental Income
Other Income
Total Income
Selling Expenses
Administration Expenses
Operating Income
Share of profit/loss in investment to associate
Interest Expenses
Earnings Before Tax
Corporate Tax
Net Income
Minority Interest
Net Income Atributable to the Parent
Recurring EBITDA
Q2 2015
30,661
4,590
2,505
993
8,088
-4,831
-644
2,613
0
-167
2,446
-466
1,980
-2
1,978
3,508
Q2 2014
31,141
4,737
2,387
1,018
8,142
-4,942
-614
2,586
-25
-220
2,341
-448
1,893
-4
1,889
3,576
20
Profit and Loss Statement – 1H 2015 and 1H 2014
In THB m
Sales
Gross Profit
Rental Income
Other Income
Total Income
Selling Expenses
Administration Expenses
Operating Income
Share of profit/loss in investment to associate
Interest Expenses
Earnings Before Tax
Corporate Tax
Net Income
Minority Interest
Net Income Atributable to the Parent
Recurring EBITDA
1H 2015
60,429
8,505
4,882
2,107
15,493
-9,552
-1,339
4,603
0
-356
4,247
-827
3,420
-2
3,418
6,431
1H 2014
60,345
8,625
4,656
2,053
15,335
-9,642
-1,266
4,427
-52
-444
3,931
-778
3,152
-7
3,145
6,377
21
Consolidated Statement of Financial Position
In THBm
Cash and cash equivalents
Trade accounts receivable
Inventories - net
Supplier receivables and tenant receivables
Other current assets
Investment properties - net
Property, plant and equipment - net
Intangible assets - net
Goodwill
Other non-current assets
Total Assets
Short-term loans from financial institutions
Trade accounts payable
Other current liabilities
Total non-current liabilities
Total shareholders' equity
Total Equity and Liabilities
30-Jun-15
6,135
138
10,229
3,183
1,290
16,114
25,985
160
26,722
6,427
96,383
6,000
23,809
7,110
16,244
43,221
96,383
30-Jun-14
5,034
196
10,226
2,931
1,454
16,534
25,928
133
26,722
6,044
95,203
6,000
24,588
4,055
22,487
38,073
95,203
22