WICE LOGISTICS PUBLIC COMPANY LIMITED

OPPORTUNITY DAY
PRESENTATION
24 February 2023

YE/2022
We Deliver Values and Smart Solution
 2022 HIGHLIGHTS

WICE Display Impressive Received Awards from SET Partner Up with N-Squared Successfully Joined Hands
Net Profit of 554 MB for the 3rd Consecutive Year Ecommerce to Penetrate with SAT to develop
Increase 3.4% YoY the B2B2C Market Green Logistics Hub
• In 2022, WICE displays total • WICE received Business • WICE Logistics joins hands with • On January 30, 2023, The
gross profit of Baht 1,266 million Excellence SET Awards 2022, N-Squared Ecommerce, a leader company has signed an MOU
increased 1.8% YoY and net st
for the 1 year for best company in distribution and providing with automotive parts
profit of Baht 554 million, performance and outstanding complete e-commerce services, manufacturer SAT with the
increased by 3.4% YoY CEO awards aims to expand warehousing, objective to develop the land of
• Net profit margin was at 7.8% for • WICE received Outstanding CEO fulfillment and distribution service SAT Group to be a pilot project
2022, increased from 7.0% in Award for the second to capture B2B2C domestically for the management of Green
2021 consecutive year and in Southeast Asia Logistics Hub to expand the
warehouse business and the
integrated logistics services
2
AGENDA

01 Company Overview
02 Strategy and Strategic Direction
03 YE/2022 Financial Performance
04 2023 Outlook

3
WICE ONE Stop-Service
16 Subsidiary Companies to support Worldwide
Freight Management Services for Sea, Air and Cross
Border Road-Rail Services and Supply Chain
WICE Logistics (Guangzhou) Ltd.
WICE Logistics (Shenzhen) Ltd.
WICE Logistics (Shanghai) Ltd.
Solutions WICE Logistics (Ningbo) Ltd.

Strong Presence in ASIA’s

top trading markets WICE Logistics (Hong Kong) Limited

WICE Logistics Public Company Limited

• Thailand Office: Bangkok HQ and Laem Chabang Branch/ Operation: Airport, Bangna-Trad
Km.18, Laem Chabang and Rayong
• Singapore, Malaysia (Kuala Lumpur, Joho Bahru, Penang)
• China (Guangzhou, Shenzhen, Shanghai, Ningbo) WICE Logistics (Malaysia) Sdn.Bhd.
• Hong Kong
WICE Logistics (Singapore) Pte Ltd

STRATEGIC PARTNERS around the world

Allows WICE to have strong coverage to bid and conduct routes all over the world

Lead by EXPERIENCED management team

At A Glance
Highly experienced management with over 30 years in the industry works with high flexibility to ensure the Company’s performance
have minimal impact from external factors during changing economic situations
4
Business Overview
WICE Logistics Public Company Limited was established in 1993. A Thai Leading 3rd Party Logistics Service and Solutions Provider, with presence in 5 countries around Asia
Business Breakdown By Revenue: Business Breakdown By Gross Profit: Supply Chain
Supply Chain
Solution, 6% Cross BorderSolution, 5%
Cross Border Service, 17%
Service, 21% Revenue Gross Profit

7,102MB Sea Freight,

51% 1,266MB Sea Freight,
57%
YE/2022 Air Freight, 21% YE/2022
Air Freight, 22%

51% SEA FREIGHT

22% AIR FREIGHT
21% CROSS
BOARDER
SERVICE
6% SUPPLY CHAIN
SOLUTION
• WICE offers shipping • WICE can contact and • Multimodal transport by • Warehouse services
services in the form of reserve airlines according to road-rail services from Laos- covering all areas such as
containers with leading and the schedule and China Bangkok, Chonburi, Khon
reputable shipping lines and requirements which the Kaen, Chiangmai and
have strong expertise in customer needs, taking into Songkhla
auto parts and electronic account punctuality and cost • Warehouse Facilities and
appliances. In addition, savings for customers. Management Services under
WICE have strong relations • WICE have expertise in Company’s operation
with shippers thus bookings electronic appliances. • Warehouse Management
are at advantage. Services at customer site

5
Sea Freight / Air Freight
Export Haulage Origin Handling Ocean Freight Destination Handling Import Handling Export Haulage Origin Handling Air Freight Destination Handling Import Handling

Shipper Origin Origin Port Destination Port Destination or Consignee Shipper Origin Export Customs Import Custom Destination or Consignee
Warehouse WICE Warehouse Warehouse WICE Warehouse
Sea Freight 51% Air Freight 22%
Main Service Main Service
• Power of Choices • Air Consolidation
• Multiple Sailings, Single Rate • P.O. Management
• Coverage Key Major Trade Lanes • Alternative & Solutions
• Door to Door Completed Services • Strong Network
• Service Contracts with Main Liners • Door to Door Completed Services

Key Trading Routes: Key Products: Key Trading Routes: Key Products:
Automotive & Electrical Components
Tire

China USA Home

Appliances China

Fashion & Hong Kong

Southeast Asia Retails
Malaysia
Furniture
Singapore
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Cross Boarder Services
Cross Boarder Services 21%
Flexibility Service
• Air & Sea Alternatives
• Cost Management Solutions
• Truck Consolidation Services
• Southeast Asia & China Coverage
• Control Tower Monitoring

Key Trading Routes:

Singapore Malaysia Thailand Vietnam China

Key Products:
Focus on high value products and high speed

Automotive & Tire Electrical Components Solar Modules

7
Supply Chain Solution
Examples of WICE Existing Services WICE Existing Facilities
Warehouse Facilities Capacity Service Products
• Optimum storage space with optimized warehouse solution design to suit the customer
requirement
• Standard process produce development to ensure the accuracy of receiving, stock control,
dispatching and value-added services offered
Warehouse Management Services • Warehouse/ • Agriculture
• Transport of hazardous goods (ammunition and explosives) 5,000 SQM
• Route study and port survey Distribution Center Product
• Crane and skidding operations
• Risk assessments and method statements
• Heavy lift and haulage Laem Chabang Warehouse
• Order management
Value-added Service Management
• Barcode scanning, cargo weighing, co-packing, GOH handling, kitting, label printing/
application, pick & pack, postponement, quality assurance inspection ,repacking, returns • WSCS Fulfillment • Retails
processing, shrink-wrapping, slip-sheeting 10,000 SQM
Center • Home Appliances

Order Fulfillment
Bangna Km.18 DC
Transportation
• Domestic delivery
• Urgent request delivery • Production • Industrial Roll
• Parcel
• Milk run Support Paper
• Multiple – drops 16,800 SQM
• Distribution Center • Food Safety
• Transport management Mgmt. Packaging

IT Suite SCG (Onsite) Kanchanaburi

• EDI Enterprise
• Track & Trace • E-POD (Electronic Proof of Delivery) Total Capacity 31,800 SQM
• Warehouse management system 8
AGENDA
01 Company Overview
02 Strategy and Strategic Direction
03 YE/2022 Financial Performance
04 2023 Outlook

9
WICE STRATEGIC DIRECTION
2025
Leading International
2023 Logistics Service and
Seeking For New Solution Provider in Asia
Business Opportunities • Strong collaboration within WICE GROUP and
expanding offices in ASIA
• Partner to expand domestic services
• eCommerce Collaboration Program • Accelerate growth with new built-to-suit warehouse
• Developing Green Logistics Hub management and domestic distribution
• Capturing new segments and countries to expand air • EV Transportation
and sea freight volumes
• Warehouse space expansion and study opportunities
for built-to-suit
• Study EV transportation

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WICE STRATEGY
01 STRENGTHENING CORE LOGISTICS 01 02 02 EXPANDING SUPPORTING
BUSINESS PERFORMANCE BUSINESS CAPABILITIES
• Scaling up Volume and Enhancing Services for Sea • Strengthening ability of cross boarder services
Freights and Air Freights • Increasing Capabilities (services and space) of
Warehouse & Distribution Businesses
• Strengthening Supply Chain Solution Services

04 CONTINUOUS COST 03 COLLABORATION FOR NEW

MANAGEMENT BUSINESS OPPORTUNITIES
• Benefits from economies of scale • Capture and Growth with E-commerce Market
• Maintain strong relationship with ships to ensure • Collaboration for Green Logistics Hub
spot and competitive costs • Study possibilities of EV transportation
• Effective Cost Management to Maintain Margin 04 03

05 TECHNOLOGICAL INTEGRATION
• Interface Platform • RF Technology for Warehouse • Track & Trace Mobile Application • Transport Monitoring Dashboard • Customs & Trade Compliances
Management Control Process Initiative Solutions
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 01 STRENGTHENING CORE LOGISTICS BUSINESS PERFORMANCE (1/2)
Sea Freight

Increasing Volume – Target to Double Volume in 3 years

Volume of Sea Freight Strategy: Expanding customer base through shared database, increasing network and gaining more strategic
Unit: TEUs partners for global coverage
70,000
Customer base Sharing (network) and enlarging order volume

Ensuring integrated services (end-to-end services)

Keep Strong Relationship with Shippers to ensure availability

33,608
29,730 Increasing Footprint: Network expansion to cover all Asian countries
Potential expansion

Higher group volume will allow for economies of scale and better cost management

2021 2022 2025 Target

Capturing new customers in Thailand who have relocated from China

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 01 STRENGTHENING CORE LOGISTICS BUSINESS PERFORMANCE (2/2)
Air Freight

Increasing Volume – Target to Double Volume in 3 years

Volume of Air Freight Strategy: Scoping down to market which WICE have strong expertise in and focus on fast growing and WICE
Unit: Ton specializing products

Focusing on Specialized Markets

Malaysia Singapore China Hong Kong

18,000
Focusing in Specialized Products

13,570
Electronics
Air consolidation for competitive prices, competitive services
8,803

Ensuring strong supplier management

2021 2022 2025 Target

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 02 EXPANDING SUPPORTING BUSINESS CAPABILITIES (1/2)
Cross Boarder Services

Preparing
Preparing ETL ETLtotoMAIbeinlisted
to be listed to MAI in Q3/2023
Q3/2023:

Q1/2023 Q2/2023 Q3/2023 Raise fund from IPO

Change to submit ETL as a March
holding Company

Submits application form and filing to SEC 1st day trade

and SET
Strategy: Allow ETL to utilize funds from IPO for growth through diverse routes and
expansion of services

Expanding Service Offerings – Cold Chain Business

Expanding Routes and Market

LTL Consolidation
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 02 EXPANDING SUPPORTING BUSINESS CAPABILITIES (2/2)
Accumulated Warehouse Capabilities Expansion Plan
Unit: Square meter (sqm)
Facility That Desired To Meet All Business Need

130,800

+ approx. 34,000 sqm ➢ Strengthening Services of Total Supply Chain Solution and Capturing Growth:
Warehouse service advancement - Conversion of Moving along the value chain
65,800 Typical Warehouse to Partnership Built-to-Suit Facility Expanding Last Mile Delivery
with eCommerce Capability
Strong technological support Interface Technology
Platform: Fulfillment Management Solutions and Capturing Customers in Pipeline
31,800 Dashboards
➢ Pipeline:
Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 2025
APRIL 2023
2022 2023 2025 Target Bangpa-in DC 2024
Over 100,000 SQM
FEB 2023 20,000 SQM Tire Warehouse JULY 2023 Built-to-Suit DC Fulfillment Facilities
Bangna Km.18 DC Industrial Packaging DC 35,000 SQM
1st Qtr Expansion 4,000 SQM 10,000 SQM Home Appliance Fulfillment Center 15
 03 COLLABORATION FOR NEW BUSINESS OPPORTUNITIES
Partner Up with N-Squared Ecommerce Collaborate with SAT to
to Penetrate the B2B2C Market develop Green Logistics Hub

To expand transportation service and fulfillment To expand the warehouse business and the
Center integrated logistics services
To penetrate the B2B2C domestically and in
Southeast Asia To support the demand of customers in logistics,
especially customers in the EEC area
More comprehensive service to customer

✓ E-distributor sale model to focus industry Fashion Retails and Home Appliances ✓ Samut Prakan Province
✓ Fulfillment Center ✓ Area of about 50,000 sq.m
✓ Manage warehouse with e-commerce ✓ Manage warehouse with automation system
✓ Build a sustainable new revenue stream ~100 MB in 2023 ✓ Electric vehicle transportation 16
 04 CONTINUOUS COST MANAGEMENT
Cost Management
Sea Freight Air Freight

Maximize Sea Volume Air Consolidation

Manufacturer Manufacturer Manufacturer

Benefits

Lower cost to customers

Combining Volume from Difference Locations Cargo Consolidation Warehouse

Benefits
Large volume (pallets) =
High Bargaining Power economies of scale for WICE
Large volume = better
Lower/ Competitive Prices relationship with airlines for
future slots
Airport of Departure 17
 05 TECHNOLOGICAL INTEGRATION
Smart Move Suite

Transportation Management System (TMS) ePOD System – Mobile Application

• An integrated transportation service management system for container Tracking system and updating the status of transportation on smartphones
transportation and domestic distribution in the real time:
• To manage day-to-day operations from the beginning to finish covering all 1. Easy for users to plan and manage transportation efficiently
stages of logistic workflow. 2. Collect information and feedback of users for further improvement

Workflow Process
Daily Trip Volume List of Job Order
• Wice Fleet • DD/Time Print Job Order DD/Time for
• Vendor • DD/Time Pickup DD/Time Return to
DD/Time DD/Time document return and
Job confirm / Unconfirmed Job Order Print • DD/Time Container Number Port/Yard
Arrival Departure settle advance

✓ GPS Tracking Vehicle

✓ Tracking Job Status
✓ Job Completed

Create Job Order Face Scan - Print Job Order Pickup Container Customer Loading / Unloading Document Return
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AGENDA
01 Company Overview
02 Strategy and Strategic Direction
03 YE/2022 Financial Performance
04 2023 Outlook

19
 FINANCIAL HIGHLIGHT YE 2022

Operating Revenue Gross Profit Gross Profit Margin Net Profit Net Profit Margin

7,102 MB 1,266 MB 17.8 % 554 MB 7.8 %

7.0% YoY 1.8% YoY 1.5% YoY 3.4% YoY 0.8% YoY

20
 Operating Revenue Breakdown
Operating Revenue Breakdown by Business
Unit: Million Baht, % -7.0% YoY

7,637
5% 7,102
6% Supply Chain Solution
25%
-45.4% YoY 21% Cross Boarder Service
-18.1% QoQ
23% 22% Air Freight

2,379
4%
23% 1,587 48% 51% Sea Freight
21% 6% 1,299
26% 8%
24% 27%
53% 29%
43% 36%
Q4/21 Q3/22 Q4/22 YE/21 YE/22
YoY: Q4/2022 vs Q4/2021 QoQ: Q4/2022 vs Q3/2022 YoY: 2022 vs 2021
Operating revenue was Baht 1,299 million, decreased by Baht 1,080 Operating revenue was Baht 1,299 million, decreased by Baht 288 Operating revenue was Baht 7,102 million, decreased by Baht 535
million or 45.4% mainly due to million or 18.1% mainly due to million or 7.0% mainly due to
• Decreased sea freight revenue following drop in freight rates • Decreased sea freight revenue following drop in freight rates • The closure of the border checkpoint in China hindered cross-
(over supply) (over supply) border land transport
• Decreased sea freight revenue following drop in freight rates,
while sales volume increases which offset the lower selling price
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Core Business

Sea Freight Air Freight

Unit: Million Baht, % Unit: Million Baht, %

3,730 3,758 1,785

1,616
Revenue

1,294
502 402
714 389
481

Q4/21 Q3/22 Q4/22 YE/21 YE/22 Q4/21 Q3/22 Q4/22 YE/21 YE/22

Unit: TEUs Unit: Ton

33,608 13,570
29,730
Volume

8,803

11,197
7,448 7,563 2,252 2,088 2,105

Q4/21 Q3/22 Q4/22 YE/21 YE/22 Q4/21 Q3/22 Q4/22 YE/21 YE/22

Source: Macromicro, Aircargonews 22

Core Business

Cross Boarder Service Supply Chain Solution

Unit: Million Baht, % Unit: Million Baht, %

402 417
1,927
Revenue

1,534

550 98 103 112

431 372

Q4/21 Q3/22 Q4/22 YE/21 YE/22 Q4/21 Q3/22 Q4/22 YE/21 YE/22

Unit: Trips Unit: Sq.m

17,094 31,800 31,800 31,800
14,847
23,000 23,000
Volume

4,373 3,832 3,274

Q4/21 Q3/22 Q4/22 YE/21 YE/22 Q4/21 Q3/22 Q4/22 YE/21 YE/22

Source: Macromicro, Aircargonews 23

 Gross Profit and Gross Profit Margin (GPM)
Gross Profit and Gross Profit Margin (GPM)
Unit: Million Baht, % 24.1%
22.3%
21.3%
20.3% 21.1%
18.5% 19.3% Sea Freight
16.8%
16.9% 16.7% 17.8% Overall GPM
16.3% 17.4% 16.4% 16.7% Air Freight
15.6%
14.7%
14.8% 16.3% 14.9% Supply Chain Solution
13.6% 13.4% 13.2% 13.7% Cross Boarder Service
11.3%

-26.1% YoY +1.8% YoY

-6.5% QoQ 1,244 1,266

5% Supply Chain Solution
5%
20% 17% Cross Boarder Service
25% 21% Air Freight
371 293 274
4% 5% 9% 57% Sea Freight
17%
20% 22% 50%
24% 18%
30%
59% 49% 43%
Q4/21 Q3/22 Q4/22 YE/21 YE/22

YoY: Q4/2022 vs Q4/2021 QoQ: Q4/2022 vs Q3/2022 YoY: 2022 vs 2021

• Gross Profit was Baht 274 million, decreased by Baht 97 • Gross Profit was Baht 274 million, decreased by Baht 19 • Gross Profit was Baht 1,266 million, increased by Baht 22
million or 26.1% according decrease in revenue, especially sea million or 6.5% according decrease in revenue, especially sea million or 1.8% as a result of cost management and increase
freight revenue following drop in freight rates freight revenue following drop in freight rates sales volume from Door to Door Completed solution
• Gross Profit Margin in Q4/2022 was 21.1%, increased from • Gross Profit Margin in Q4/2022 was 21.1%, increased from • Gross Profit Margin in 2022 was 17.8%, increased from 16.3%
15.6% as a result of cost management and increase sales 18.5% as a result of cost management and increase sales as a result of cost management and increase sales volume from
volume from Door to Door Completed solution volume from Door to Door Completed solution Door to Door Completed solution
24
 Profit attributable to owners of the Parent and Net Profit Margin (NPM)
Profit attributable to owners of the Parent and Net Profit Margin (NPM)*
Unit: Million Baht, %
7.6% 8.1% 7.5% 7.0% 7.8%
NPM*
+3.4% YoY

536 554
-47.0% YoY
-26.2% QoQ
Profit attributable to
owners of the Parent
181
130
96

Q4/21 Q3/22 Q4/22 YE/21 YE/22

YoY: Q4/2022 vs Q4/2021 QoQ: Q4/2022 vs Q3/2022 YoY: 2022 vs 2021
• Net Profit was Baht 96 million, decreased by Baht 85 million • Net Profit was Baht 96 million, decreased by Baht 34 million • Net Profit was Baht 554 million, increased by Baht 18 million
or 47.0% according decrease in revenue, especially sea freight or 26.2% according decrease in sea freight revenue following or 3.4% as a result of cost management and increase sales
revenue following drop in freight rates drop in freight rates and decreased customer demand due to volume from Door to Door Completed solution
• Net Profit Margin in Q4/2022 was 7.5%, slightly decreased from reserve inventory in the previous quarter • Net Profit Margin in 2022 was 7.8%, decreased from 7.0% as a
7.6% demonstrating the ability to maintain profitability • Net Profit Margin in Q4/2022 was 7.5%, decreased from 8.1% result of cost management and increase sales volume from
due to decrease revenue and customer demand Door to Door Completed solution
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Note: Net profit margin from the profit attributable to owners of the parent
 Statement of Financial Position
Statement of Financial Position
Unit: Million Baht, % Total Assets Total Liabilities & Shareholder’s Equity
-4.7% YoY -4.7% YoY

3,495 3,495 Other liabilities

3,332 3,332
341 10% 9% Lease liabilities
89 3% 286
Other currents 1,049 30% 283 8% 160 5% Long-term loans from financial
1,076 32% 201 6%
institutions
Property building and equipment 350 10% 813 24% Trade and other payables
335 10% 1,280 37%
Cash and cash equivalents 429 12%
852 26%

1,667 48% 1,872 56% Shareholders’ Equity

Trade and other receivables 1,502 43%
1,069 32%

31 Dec 2021 31 Dec 2022 31 Dec 2021 31 Dec 2022

Total Assets Total Liabilities Total Shareholder’s Equity
As of 31 Dec 2022, the total assets were Baht 3,332 million, As of 31 Dec 2022, the total liabilities were Baht 1,460 million, As of 31 Dec 2022, the total shareholder’s equity were Baht 1,872
decreased by Baht 163 million from 31 Dec 2021, mainly due to: decreased by Baht 533 million from 31 Dec 2021, mainly due to: million, increased by Baht 370 million from 31 Dec 2021, mainly due to
• Trade and other receivables: decrease due to receiving • Trade and other payables: decrease due to loan repayment the increase in operating profit
payment from trade account receivable • Long-term loans from financial institutions: decrease due to
• Cash and cash equivalents: increase due to receiving payment loan repayment as scheduled
from trade account receivable • Lease liabilities: increase due to the company purchasing in a
trucks 26
 Cash Flow Statement
Cash Flow Statement
Unit: Million Baht, %
+838 -101
-293

-19.0 854

429

Cash and Cash Equivalents at Cash flow from Operation Cash flow from Investing Cash flow from Financing Translation adjustments Cash and Cash Equivalents at
31 December 2021 Activities Activities Activities 31 December 2022
Cash Flow from Operating Activities Cash Flow from Investing Activities Cash Flow from Financing Activities
Cash Flow from Operating Activities increased from beginning Cash Flow from Investing Activities decreased from beginning Cash Flow from Financing Activities decreased from beginning balance
balanced mainly from the: balanced mainly due to: due to:
• Receiving payment from trade account receivable • Investment in bond • Repayment of lease liabilities and long-term loans from financial
• Realization of operating profit institutions

27
 Key Financial Ratios
Current Ratio D/E Ratio Payment Period
Unit: Times Unit: Times Unit: Days

1.99 1.33
1.66 1.10
1.58 65 65
0.89

57

2020 2021 2022 2020 2021 2022 2020 2021 2022

Average Collection Period ROE ROA

Unit: Days Unit: % Unit: %

67 67 49.25 28.28
37.73 18.43
16.23
60 24.07

2020 2021 2022 2020 2021 2022 2020 2021 2022

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AGENDA

01 Company Overview
02 Strategy and Strategic Direction
03 YE/2022 Financial Performance
04 2023 Outlook

29
2023 OUTLOOK
WICE FORECAST TO GROW 15%-20% in 2023

Warehouse Capacity Milestone of

Expansion New Projects
• FEB 23 Bangna Km.18 DC: • Green Logistic Hub 50,000 Sq.m through
Expansion 4,000 SQM collaboration with SAT at Bangna-Trad and
Enhancing Network • APR 23 Bangpa-in DC: 20,000
ETL Enter Stock Exchange Rayong
Collaborations Tire Warehouse of Thailand (MAI) • Grow with N-Squared
• Develop B2B2C hub
• Increase presence and networks • Q3 2023 Industrial Packaging DC • WICE expects ETL to start • Combine N-Squared eCommerce
in Asia and non-Asia 10,000 SQM trading in Q3/2023 on MAI platform with WICE fulfillment
market center
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Please give us your feedback

Thank You
IR CONTACT
02-681-6181 ext. 3501
[email protected]