CP All Public : Information Release 2Q14

CP All Public Company Limited: (CPALL)

Investor Information Release 2Q14 Results

Aug 6, 2014

Price (Aug 1, 2014): Bt. 46.50

Hi/Low: (12-month) Bt. 48.25/32.00 per share

Average Turnover: Bt. 795 million

No. of shares: 8,983.10 million (Par Bt. 1) Market Capitalization: Bt. 417,714 million

Major Shareholders (as of March 11, 2014):

- CP Group 41.3%

- Thai NVDR 4.6%

- State Street Bank Europe Limited 3.3%

- J.P. Morgan Ireland (Nominees) Limited 3.0%

- AIA 2.7%

- GIC 1.2%

Historical dividend payment:

Year Amount / share Payout ratio
2009 - Bt 0.80 78%
2010 - Bt 1.40 102% (incl. special dividend of Bt 0.40/share)
2011 - Bt 2.25 139% (incl. stock dividend of Bt 1.00/share)
2012 - Bt 0.90 81%
2013 - Bt 0.90 79%
*During the year 2012, the Company issued the stock dividend at a ratio of 1 existing share to 1 stock dividend, thus the number of shares used in the computation of dividend per share for the year 2012 has increased from 4,493,148,024 to 8,983,101,348.
Welcome to the 15th 7-Eleven Stamp Promotional Campaign
CPALL starts to launch our annual stamp promotional campaign in the same period of time as the past couple years from July 26, 2014 to November 25, 2014. This year, 7-Eleven will distribute stamp collection under the theme "Stamp AEC - invite the Thais to meet new friends from AEC" featuring ASEAN's national costume, tourist attractions, greetings etc. Customers will get a stamp valued Baht 1 for every Baht 50 purchase or additional stamps valued Baht 3 from a variety of products participating in the campaign. The collected stamps can be used as cash discount or redeemed for premium gifts.
Refer to 2014 AGM's resolutions that approved the issuance of the debentures worth up to Baht 90,000 mil., CPALL plans to issue the new debentures worth up to Baht 40,000 mil with a maturity of 3, 5, 7, 10 years. The subscription period is planned to be on Aug. 18 - 21, 2014. The debentures are rated at the same level as CPALL's National Long-Term Ratings A+(tha) by Fitch Ratings (Thailand). Such rating reflects the company's continuous growth, strong financial performance and cash flow.

2Q14 Highlights

Store Network (Type)	1Q14 2Q14
Corporate Franchise Sub-area Total	3,400 3,452 3,647 3,745 604 619 7,651 7,816

Store Network (Geography)	1Q14 2Q14
BKK and suburban Upcountry Total	3,474 3,533 4,177 4,283 7,651 7,816

Product Sales Mix & Margin*

Average daily sales/store* Bt. 77,673

Average spending/ticket** Bt. 62

Average tickets/store/day** 1,274 tickets

* Calculated from all store sales excluding T&E e.g. mobile phone

** Calculated from SSS excluding T&E

With total revenue for 2Q14 of Baht 92,134 million and total costs and expenses of Baht 86,916 million, the Company reported a consolidated
net profit ended June 30, 2014 of Baht 2,252 million or a decrease of 15.0% YoY.

• Total revenues significantly increased 71.8% YoY due to the consolidation of Makro performance and a result of store expansion of 7-Eleven in Thailand, and an increase in other operating income mainly from sales promotion. Gross margin (sales and service) reduced from 26.3% in 2Q13 to 21.3% in 2Q14 due to the blended of lower margins from Makro business. Similarly, SG&A to total revenues dropped from 23.6% in 2Q13 to 18.3% in

2Q14 because of the lower SG&A expenses to total revenue of Makro business. Finance charges were totally recorded. That resulted in consolidated net profit of Baht 2,252 million, decreasing by 15.0% YoY, and separated net profit of Baht 2,422 million, lowering by 14.4% YoY.

• 7-Eleven, we expanded another 165 stores in 2Q14 with geographical combination of 59 stores in Bangkok and suburban and 106 stores in provincial areas: 52 as corporate stores versus 98 franchise and 15 sub area stores. Same store sales growth excluding phone card was posted at 0.5% YoY.

• Balance Sheet, total assets were decreased from Baht 304,008 million at FY13 to Baht

298,529 million at 2Q14 due to decreased current assets; however, non-current assets such as PP&E continued to increased from business expansion of both 7-Eleven and Makro stores. Total liabilities were decreased from Baht 271,037 million at FY13 to Baht 268,764 million at 2Q14 of which Baht 189,880 million was interest-bearing debt.

• Financial Ratio, EBIT and net profit margin were posted at 5.7% and 2.4%, respectively. ROA and ROE were generated at 3.3% and 39.3% consecutively.

Disclaimer:

This document may be deemed to contain forward-looking statements. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of CP ALL that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ

materially from actual future events or results. Any projections in the fact sheet are based on limited information currently available to CP ALL, which is subject to change. Actual

events or results could differ materially and no reader of the fact sheet should assume later that the information provided today is still valid. Such information speaks only as of the date of the fact sheet.

Investor Relations Contact Information:

Telephone: [phone] Fax: [phone]

Address: 119 Tara Sathorn Tower, 12th Floor, Soi Sathorn 5, South Sathorn Rd., Bangkok, 10120 Thailand

Website: www.cpall.co.th E-mail: i [e-mail]

CP ALL Pcl.
- 1 -