1January 2019

Management Highlights

2018 Challenging Market

High competition for restaurant / café business * Unimproved purchasing

power Declining Chinese Tourists

by 60-70% in Q4** Transformation from

traditional shopping to on-line sales / delivery.

However, good desserts are still in high demand.

AU Actions 2018 Open 6 new branches (3 BKK,

Chiangmai, Udon Thani and Pattaya) in 2018

AU is establishing infrastructure for diversified revenue, i.e Plant, back office, licenses and QC processes.

Launched new menu every quarter with Q4/18 new product champion at fair margin enhancing the bottom line.* = Kasikorn Research Center, # 2904 page 3, 2018

2

** = The Association of Thai Travel Agents

Activities ObjectiveBusiness Plan

1Open New branch 10 branches Increase sales

2

Phase 2 Build and add more capacities

2.1 Cold storage Reduce cost, Increase storage

2.2 Solar Roof Save electricity cost

2.3 Machinery and equipment purchase

Raise Production

3

Fresh better / Fresh Milk bun (new product champion)

Capacity to reach 10,000 boxes / day in 1H

Boost capacity to satisfy influx of demand

4

More pop up kiosk & more event catering

7 -10 Days sales at up-countrymalls, events

Explore demand and increase sales

5

On-going development & B2BNew Menu / Marketing Event &

collaboration via OEMIncrease sales and other income

without open more branch

6

Prepare for inter. businessHK outlet by Franchisee to open in

2H’2019New base of income / model

New Activities / Outlook in 2019

3

New Branch 2018 2019 2019 No. of branch

Q1 Don Muang Iconsiam (16 Jan) 1

Phuket Patong, The Market, 101 The Third Place

3

CTW Office Sukhumvit 11 1

Q2 Had Yai , 1 Northern City 2

BKK In-Town, 1 Northeastern City

2

Chiang Mai, Udonthani 1 Southwestern City 1

Total 1H 4 Branches, Net 3 10 Branches 10

Jul Rama 2

Total Q3 1 Branch

Oct Terminal Pattaya

Total Q4 1 Branch

Total in year net 2 BKK, upcountry 3 10 Branches

2018 Completion / 2019 New Branches expansion plan

Grab Food started in Oct. 2018 . On-line sales (inclu.

LineMan) was up to Bt. 3 m in Nov..

Due to some delays in 2018 mall

opening, some postpones to 2019 with more focus in

areas dominated by foreigners.

2017 – First up-country in Korat

2018 – Chiang Mai, Udon Thani, Pattaya

= up-country

4

5

Firs

t B

ran

ch in

20

19

(1

6 J

an)

1H 2019 – Open 5 up-countries2H 2019 – First After You Dessert Café in HK

6

2019 CAPEX

Building and Improvement 66.8

Utilities , Furniture and office equipment 90.5

Kitchenware and appliances 36.3

Computer & Software 12.0

Vehicles 1.6

Total CAPEX 2019 207.2

7

As a t 9 mo ’ 18 , r evenue ro se by 18%

608

197

531

735

202 209 216

627

155.8

60

139.2

196

49 49.5 60.4

157.3

98.8

41.7

94.9128.9

31.228.9

38.5

98.6

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

0

100

200

300

400

500

600

700

800

2016 3Q'17 9 mo'17 2017 1Q'18 2Q'18 3Q'18 9 mo'18

Revenue EBITDA Net Profit % EBITDA % Net Profit

8

9

No. of Branch 31 31 25 27

9 mo'18 3Q'18 Q3'17 Remarks : 2017

Unit : MBmil

Baht%

mil Baht

%mil

Baht%

% Inc. (Dec)

9 mo.’18 and 3Q’18mil

Baht%

Dessert café606.4

98% 206.6 96% 192.0 98%8%

Higher sales from 6 more branches (organic growth)

704.3 97%

Catering/Pop Up/OEM 14.1

2% 8.49 4% 3.13 2%171%

Catering / OEM more than double from Airline

19.7 3%

Total Sales620.5

100% 215.13 100% 195.1 100%10%

Sales grew 10% from Q3'17 724.0 100%

Cost of sales -199.9 -32% -67.517 -31% -63.17 -32.4%

7%

COGS was kept low from raw material sourcing and cost management

-244.3 -33.7%

Gross Profit 420.6 68% 147.613 69% 131.91 68% 12% GP is well maintained & stable 479.7 66%

Other income 6.6 1% 1.231 1% 2.11 1%-42%

yield from S-T investment declined from reduction in principal

11.4 2%

Selling Exp. -200.9 -32% -66.86 -31% -58.7 -30%14%

Expenses related to café' branches (wage, rental, depre) following more café' branch

-227.5 -31%

Admin. Exp. -106.8 -17% -35.01 -16% -24.8 -12.7%

41%

more work to serve expansion or export via license, consult fees, QC, and lab.

-106.1 -15%

EBIT 119.5 19% 46.974 22% 50.6 26% -7% 157.5 21.4%

Net Profit 98.6 15.7% 38.4 17.7% 41.7 21.2%

-8%

Net profit margin is slightly better than budget due to COGS and selling Expense were well-controlled

128.9 18%

EPS (Bt. Per share) 0.12 0.047 0.05 -6% 0.16

Financial Figures : Still enhance net profit amount while more admin expenseswere needed for expansion

F inanc ia l Pos i t ion

9821,034

994

173

102 86

809

932 909

0

200

400

600

800

1,000

1,200

2016 2017 3Q' 18

Assets Liabilities Equity

10

Assets

- Reduc t i on in Asse t s re su l ted f rom

annua l d i v idend payment i n May

2018

Liabilities

- Heav i l y d rop a f te r Dec .’ 16 l oan

repayment f rom IPO cash rece i ved .

Equi ty

- Re ta ined ea rn ing soa r s f rom ne t

p ro f i t and reduced by d i v idend

payment wh i ch i s 95 -100 % pay-ou t

ra t i o du r ing the l a s t 3 yea r s .

11

Branches Province Location Type Launched

1 J Avenue Thonglor 13 BKK Community mall 2007 Oct

2 La Villa Aree BKK Community mall 2009 Jan

3 Siam Paragon BKK Shopping Centre 2010 Dec 16

4 The Crystal Park BKK Community mall 2011 Sep 7

5 Central Plaza Lardprao BKK Shopping Centre 2012 Feb 16

6 Int Intersect Rama 3 BKK Community mall 2013 Jul 30

7 Central World BKK Shopping Centre 2013 Jul 30

8 Silom Complex BKK Shopping Centre 2013 Sep 19

9 The Mall Bangkapi BKK Shopping Centre 2014 Jul 26

10 Siam Square One BKK Shopping Centre 2014 Sep 9

11 Tha Maharaj BKK Community mall 2015 Jul 27

12 Mega Bangna Sumutprakan Shopping Centre 2015 Aug 17

13 The Crystal Ratchapruek Nonthaburi Community mall 2015 Mar 16

14 The Mall Bangkae BKK Shopping Centre 2015 Nov 16

15 Future Park Rangsit Pathumthani Shopping Centre 2015 Dec 30

16 Terminal 21 BKK Shopping Centre 2016 Jul 11

17 Seacon Square BKK Shopping Centre 2016 Sep 21

18 Central Plaza Pinklao BKK Shopping Centre 2016 Nov 9

19 The Portal Impact Muangthong Thani Nonthaburi Community mall 2017 Mar 9

20 Bangkok Hospital BKK Hospital 2017 Jun 8

21 Esplanade Ratchadapisek BKK Community mall 2017 Jun 28

22 MBK Center BKK Shopping Centre 2017 Sep 7

23 The Promenade BKK Community mall 2017 Sep 17

24 Central Plaza Bangna BKK Shopping Centre 2017 Sep 20

25 The Mall Korat Korat Shopping Centre 2017 Oct 15

26 Central Plaza Westgate BKK Shopping Centre 2017 Dec 22

27 (To-go) Offices at Central World BKK Office Building 2018 Mar

28 Central Festival Chiang Mai Chiangmai Shopping Centre 2018 Jun 3

29 Central Plaza Udonthani Udonthani Shopping Centre 2018 Jun 28

30 Central Plaza Rama 2 BKK Shopping Centre 2018 Jul 4

31 Terminal 21 Pattaya Pattaya Shopping Centre 2018 Oct 19

MAYGORI 32. Siam Square One BKK Shopping Centre 2016 Jun 9

32

Bra

nch

es

as a

t En

d ’2

01

8

14