GFPT Public Company GFPT Public Company GFPT Public Company GFPT Public Company Limited (GFPTLimited (GFPT))

Analyst Meeting Q3 200918 November 2009

Dr Anan SirimongkolkasemChairman of Executive Committee

AgendaAgendaAgendaAgenda

1) 3Q 2009 Financial Highlight

2) Key Business Performance

3) Industry Outlook

4) Business Direction

5) Q&A

33rdrd Quarter Performance (Conso.) Quarter Performance (Conso.) (mm Bt) 3rd Qtr 09 3rd Qtr 08 % yoy 2nd Qtr 09 %qoq(mm Bt) 3rd Qtr 09 3rd Qtr 08 % yoy 2nd Qtr 09 %qoq

Sales 3,163 3,123 +1% 2,902 +9%

Cost of Sales (2,586) (2,512) +3% (2,546) +2%

Gross Profit 577 610 (5%) 355 +62%

Other Income 47 27 +72% 26 +77%

Participating Profit from Asso. Companies

17 9 +80% 13 +28%

SG&A (178) (180) (1%) (175) +2%

EBIT 463 467 (1%) 220 +110%

Interest Expense (32) (33) (4%) (28) +15%

( ) ( ) 5Taxes (12) (11) +14% 0 +17075%

Minority (6) (4) +35% (2) +198%

Net Profit 413 418 (1%) 191 +117%Net Profit 413 418 (1%) 191 +117%

Gross Margin 18% 20% (1%) 12% +6%

EBIT Margin 15% 15% ‐ 8% +7%

Net Profit Margin 13% 13% ‐ 7% +7%

33rd Quarter Performance (Conso.) rd Quarter Performance (Conso.) (mm Bt) 9Months 09 9Months 08 % change

Sales 8,420 7,967 +6%

Cost of Sales (7,221) (6,672) +8%

1 199 1 295 (7%)Gross Profit 1,199 1,295 (7%)

Other Income 107 108 (1%)

Participating Profit from 35 23 +48%Participating Profit from Asso. Companies

%

SG&A (526) (547) (4%)

EBIT 814 879 (7%)EBIT 814 879 (7%)

Interest Expense (88) (96) (9%)

Taxes (38) (16) +145%

Minority (9) (6) +42%

Net Profit 680 761 (11%)

Gross Margin 14% 16% (2%)

EBIT Margin 10% 11% (1%)

Net Profit Margin 8% 10% (1%)

GFPT Consolidated Revenue (mm Bt)GFPT Consolidated Revenue (mm Bt)3,123 3,029 2 902

3,163 25%3,500 10,997 25%12,000

2,355

2,902

15%

20%

2,000

2,500

3,000

7,967 8,420

15%

20%

6 000

8,000

10,000

5%

10%

500

1,000

1,500

Sales Gross Margin

5%

10%

2,000

4,000

6,000

Sales Gross Margin

+6%+9% qoq+1% yoy

33rd Quarter rd Quarter 2009 2009 : Bt : Bt 33 163 163 mnmn 9 9 Months Months 2009 2009 : Bt : Bt 88 420 420 mnmn

0%-Q308 Q408 Q109 Q209 Q309

Sales Gross Margin0%-

9M 08 9M 09 2008

Sales Gross Margin

33rd Quarter rd Quarter 2009 2009 : Bt : Bt 33,,163 163 mnmn

Process Food (GFF) 2%

Process Food (GFF) 2%

9 9 Months Months 2009 2009 : Bt : Bt 88,,420 420 mnmn

Chicken Meat & Food

(GFPT) 58%

DOC (KT) 3%

Other 4%

Chicken Meat & Food

(GFPT) 60%

DOC (KT) 2%

Other 3%

Animal Feed (KT) 36%

DOC (FKT) 1%Animal Feed

(KT) 35%DOC (FKT) 1%

Consolidated ­ Net Profit (mm Bt)

13% 13%

16%

400

450

10%

12%1,200 13%

10%

7%

13%

8%

12%

250

300

350

400 10%

8%

10%

8%

600

800

1,000 +116% qoq-1% yoy

418

315

76

191

413

3%

7%

4%

8%

50

100

150

200

Net Profit Net Profit Margin

761 680

1,076

4%

200

400

600

Net Profit Net Profit Margin

-10%

EPS (Bt/Share)

76 0%-

Q308 Q408 Q109 Q209 Q309

Net Profit Net Profit Margin0%-

9M 08 9M 09 2008

Net Profit Net Profit Margin

EPS (Bt/Share)

3.34 3.29

3

4 8.58

10

2.51

1.52 2

3 6.07

5.42

5

0.61

-

1

- Q308 Q408 Q109 Q209 Q309 9M 08 9M 09 2008

Balance Sheet (mm Bt) Book Value & Market Value

8,0009,000

30.16 30.78 29.8133.15 35

4,614 5,201

237 1 430

3,781 4,156

3 0004,000 5,000 6,000 7,000 8,000

27.63 29.81

20 30 19 60

23.60

31.75

20

25

30

2,884 2,839 3,481 2,454

1,430

-1,000 2,000 3,000

Dec-08 7,500 mm Bt Sep-09 8,040 mm Bt

17.80 18.20 20.30 19.60

5

10

15

Book Value Market Value

Return on Asset (%) DE Ratio (x)

Current Assets Fixed Assets Current Liabilities

LT Liabilities Equity

- Q308 Q408 Q109 Q209 Q309 17-Nov-09

Book Value Market Value

Return on Asset (%) DE Ratio (x)8,040

8%

8,000

8,200 Total Asset (mm Bt) ROA (%) 0.9

0.8 0.8

0.8 0.8 1.0

3 800

3,900

4,000

7,254

7,499

7,318

7,516 6%

4%

5%4%

7,400

7,600

7,800

3 789 3 7783,883

0.5

3,500

3,600

3,700

3,800

1%

3%

0%6,800

7,000

7,200 3,789

3,718

3,459

3,778

-3,200

3,300

3,400

,

Total Liabilities D/E (x)

Q308 Q408 Q109 Q209 Q309 Q308 Q408 Q109 Q209 Q309

Key Business Key Business Key Business Key Business PerformancePerformance

2,500

GFPT GFPT –– Revenue from Chicken Business (mm Bt)Revenue from Chicken Business (mm Bt)

1,330

1,585

1,885 2,003

1,497 1,716

1,872

1,500

2,000

Export Sales40%

Domestic Sales41%

500

1,000

I di t S l

41%

-Q108 Q208 Q308 Q408 Q109 Q209 Q309

33rd Qtr rd Qtr 2009 2009 Sales (mm Bt)Sales (mm Bt)

Indirect Sales19%

9 9 Months Months 2009 2009 Sales (mm Bt)Sales (mm Bt)

1,716 1,872 1,885

1 500

2,000

33rd Qtr rd Qtr 2009 2009 Sales (mm Bt)Sales (mm Bt) 9 9 Months Months 2009 2009 Sales (mm Bt)Sales (mm Bt)

6,803

6 000

8,000

1,000

1,500 4,799 5,085

4,000

6,000

-

500

-

2,000

+6%+9% qoq -1% yoy

2Q09 3Q09 3Q08

Source: GFPT Consolidated Financial Statement

9M 08 9M 09 2008

GFPT GFPT ––Chicken Export Volume (MT)Chicken Export Volume (MT)

6,000 5 900200 7,000 18,400 20,000

4,700

6,000

3,900

5,300 5,900

4,000

5,000

6,000

12,400

15,100

10 000

15,000

1,000

2,000

3,000

5,000

10,000

+21%+11% qoq+24% yoy

Exchange Rate (Bt/USD)Exchange Rate (Bt/USD)33rdrd Qtr Export by MarketQtr Export by Market

--Q308 Q408 Q109 Q209 Q309

-9M 08 9M 09 2008

Exchange Rate (Bt/USD)Exchange Rate (Bt/USD)33 Qtr Export by MarketQtr Export by Market

34.85 35.34

34.72 Others2%

32.42 32.30

33.88 33.95

Japan43%

EUEU55%

Q108 Q208 Q308 Q408 Q109 Q209 Q309

Source: Company Data Source: www.bot.or.th

GFPT GFPT –– Indirect Export Sales Volume (MT)Indirect Export Sales Volume (MT)5,400 150 6,000 25,000

4,100 3,700

4,400 4,400

4,000

12,500

16,200

20,300

15,000

20,000

2,000

5,000

10,000

+30%0% qoq

-20% yoy

GFPT – Domestic Sales Volume (MT)

--Q308 Q408 Q109 Q209 Q309

-9M 08 9M 09 2008

GFPT – Domestic Sales Volume (MT)

21,600 22,000 40 22,500

64,400

54 500

75,200

60 000

80,000

19,500

20,700 20,800

20,000

54,500

40,000

60,000

-17,500 -

20,000

-15%+2% qoq

+13% yoy

Q308 Q408 Q109 Q209 Q309

Source: Company Data

9M 08 9M 09 2008

2 072 2 095

2,500

KT KT –– Revenue from Feed Business (mm Bt)Revenue from Feed Business (mm Bt)

1,501 1,747

2,072 1,871

1,670

1,948 2,095

1,500

2,000 Shrimp Feed22%

500

1,000

Animal Feed64%

Fishery Feed14%

+8% qoq+1% yoy

-Q108 Q208 Q308 Q408 Q109 Q209 Q309

KT KT  Animal Feed Sales Volume (MT)Animal Feed Sales Volume (MT)KT KT –– Animal Feed Sales Volume (MT)Animal Feed Sales Volume (MT)

89,100 88,500 89,500

95,900 97,200

14

16

18 100,000

282 600

352,200 400,000

6

8

10

12

14 263,700

282,600

200,000

-

2

4

6

50,000 -

+7%+1% qoq+9% yoy

Q308 Q408 Q109 Q209 Q309

Source: Company Data

9M 08 9M 09 2008

KT KT –– Fishery Feed Sales Volume (MT)Fishery Feed Sales Volume (MT)46,000 50,000 25 20,000

34,600 37,700

30,000

40,000 14,900

11,400

8,900

12,700

16,100

15

20

10 000

15,000

10,000

20,000

+9%

8,900

5

10

5,000

10,000

+27% qoq+8% yoy

KT KT  Shrimp Feed Sales Volume (MT)Shrimp Feed Sales Volume (MT)

-9M 08 9M 09 2008

--Q308 Q408 Q109 Q209 Q309

KT KT –– Shrimp Feed Sales Volume (MT)Shrimp Feed Sales Volume (MT)

13 600

16,300 16,900 40

15 000

17,500

20,000

42 70047,200

60,000

13,600 11,800

9,500

7,500

10,000

12,500

15,000 35,500

42,700

20 000

40,000

--

2,500

5,000

,

-

20,000

+20%+4% qoq

+24% yoy

Q308 Q408 Q109 Q209 Q309

Source: Company Data

9M 08 9M 09 2008

Industry OutlookIndustry Outlook

Thai Broiler IndustryExport Towards Cooked ProductsExport Towards Cooked Products

600 000

500,000

600,000

400,000

Bird FluShock

200,000

300,000

100,000

0

1973

1977

1982

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

(E)

Source : Thai Broiler Processing Exporters Association

400 000450,000

Thai Chicken Export by Country (MT)400,456 394,000

129,967 159,800 179,069 180,000

135,282

18,204 29,698

37,062 36,000

28,480

200,000 250,000 300,000 350,000 400,000 333,523

296,960 289,489

148,786 144,025 184,325 178,000 125,727

135,282

-50,000

100,000 150,000

2006 2007 2008 2009 (F) Q3 2009 (A)

Asia EU Other

Thai Chicken Export by Quarter Q3 Thai chicken Export Comparison

9,937 12,392100,000

120,000

95 746

104,913 110,000

120,000

Thai Chicken Export by Quarter Q3 Thai chicken Export Comparison

104,913108,078

47,07448,439

40,000

60,000

80,00088,830

95,746

80,000

90,000

100,000

51,067 44,082

0

20,000

Q3 08 Q3 09

89,969 91,382 108,078 111,027 60,000

70,000

Q1 Q2 Q3 Q4

Asia EU Other2008 2009

Source : Thai Broiler Processing Exporters Association

Maize Price (Bt/Kg)Maize Price (Bt/Kg)

9

12

7 8 8 8 7 7 7 6 6 6 6

8 9

7

4

6

8

10

8 9 9 10 9 10 11 10 9 8 8 7 -

2

4

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2005 2006 2007 2008 2009

Soybean Price (Bt/Kg)

YTD

2008 2009 Avg.

Soybean Price (Bt/Kg)

15 16 16 16 17 18 17 17 17 17 16 20

25

15 12 11

13

5

10

15

17 17 17 17 17 18 20 19 18 16 14 12 -

5

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2005 2006 2007 2008 2009 YTD

2008 2009 Avg.

Live Bird Price (Bt/Kg)

35 34 35 35 35 35 36 37 3440

45 35 34 32 31

35 35 35 35 33

24

31 34

1520 25 30 35 40

36 36 39 40 38 34 37 42 38 30 35 35 -5

10 15

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2005 2006 2007 2008 2009

Day­old­chick Price (Bt/chick)

YTD

2008 2009 Avg.

Day­old­chick Price (Bt/chick)

14 15 15 15 15 13 12 13

1114 16 18

7 9

5 5

8

11

4 6 8

10 12

14 13 16 17 16 10 12 17 14 8 9 8 -2

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2005 2006 2007 2008 2009 YTD

2008 2009 Avg.

Business DirectionBusiness Direction

GFPT Expansion Plan and Revenue GFPT Expansion Plan and Revenue ContributionContribution

2009 (E) 2011 (F)Other2%

Farm1%

Other2%

Farm18%

F d

Feed40%

Food45%

Growth in Revenue

Food57%

Feed35%35%

Q & AQ & A

Thank youThank youInvestor Relations Department

GFPT PCLTel: 662 – 473 ‐ 8000Tel: 662  473  8000

Email: investorrelation@gfpt.co.thWebsite: www.gfpt.co.th

Disclaimer & DisclosureDisclaimer & Disclosure•The information, statements, forecasts and projections  contained herein reflect the company’s current views with respect to future events and financial performance. •These views are based on assumptions subject to various risks. •No assurance is given that these future events will occur or that the company’s assumptions areNo assurance is given that these future events will occur, or that the company s assumptions are correct. •Actual results may differ materially from those projected.