Analysts’ Presentation 2019 Financial Results April 16, 2020
01 Key Financial Highlights Summary of Consolidated 02 Financials 03 Revenue Mix 04 Recent Developments 2
Key Financial Highlights Php Bn Php Bn Php Mn Php Mn 931 775 1.55 1.17 +113% increase in +28% increase in +12% increase in +47% increase in Net Income Gross Profit EBITDA Operating Income 17.6% 14.6% 9.0% 29.2% +8.4 pps increase in +5.8 pps increase in +5.2 pps increase in +1.2 pps increase in Net Income Margin Gross Profit Margin Operating Margin Return on Equity 3
Summary of Consolidated Financials Revenue, Gross Profit & Margin Operating Income & Margin Net Income & Margin (Php Mn) (Php Mn) (Php Mn) 1,200 20.0% 1,200 20.0% 29.2% 8,000 32.0% 17.6% 28.0% 14.6% 16.0% 23.4% 15.0% 6,000 24.0% 12.4% 931 800 800 20.0% 12.0% 5,303 775 5,881 727 4,000 16.0% 10.0% 6.2% 8.0% 12.0% 400 400 1,549 1,379 2,000 8.0% 365 5.0% 4.0% 4.0% 0 0.0% 0 0.0% 0 0.0% 2018 2019 2018 2019 2018 2019 Revenue Gross Profit Net Income Net Income Margin Gross Profit Margin Operating Income Operating Margin ➢ Topline dragged by discounted average selling prices due to lower global vegetable-based oil prices and peso appreciation ➢ Larger contribution of higher margin products translating to improved margins ➢ Operating expenses maintained owing to effective cost containment programs 4
Revenue Mix: Product Segment, Geography and Exports Product Segment Geography Exports Coconut Cream/Milk Europe 5% Others 6% Domestic 9% Asia/Middle 11% East 8% Desiccated Australia Coconut 8% Coconut Milk 34% Powder Exports 14% Philippines USA 89% 11% 67% Sweetened Coconut Coconut 15% Water 23% 5
Consolidated Balance Sheet Current Assets Total Assets Current Liabilities 2,683 5,077 10,559 1,707 7,641 2,545 2018 2019 2018 2019 2018 2019 ➢ Total Liabilities Total Assets Total Equity Higher cash position from IPO proceeds; PPE additions 8,583 ➢ 2,992 Current Liabilities Partial debt payment of P800 million in 1,976 4,649 4Q19 ➢ Total Equity Issuance of new primary shares 2018 2019 2018 2019 related to IPO 6
Key Financial Ratios (Basic) Debt to Equity Current Earnings Per Share Ratio Ratio P0.23 2.97 0.23 2019 2019 2019 0.64 P0.18 0.95 2018 2018 2018 Return on Return on Assets Equity 7.3% 9.0% 2019 2019 2018 2018 4.8% 7.8% 7
Recent Developments Conducted initial public offering in October. Partial debt Secured initial commitments for equity research payment of P800 million. Doubled spray-drying coverage . capacity for coconut milk powder to 4,800 metric tons. March 2020 January 2020 February 2020 2019 Awarded for sustainable organic farming Declaration of cash dividends amounting to initiative. Groundbreaking for provincial P0.3 per common share. Instituted P500 hospital facility (CSR). million share buy-back program. 10 8
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