EMPERADOR INC. 1H2019 FINANCIAL RESULTS 1 1H2019 FINANCIAL RESULTS - - PowerPoint PPT Presentation

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EMPERADOR INC. 1H2019 FINANCIAL RESULTS 1 1H2019 FINANCIAL RESULTS - - PowerPoint PPT Presentation

Nov 18, 2022 269 likes •443 views

EMPERADOR INC. 1H2019 FINANCIAL RESULTS 1 1H2019 FINANCIAL RESULTS 1. OUR FINANCIALS 2. UPDATES 3. KEY TAKEAWAYS OUR FINANCIALS 1H2019 Financial Highlights P3.3b P21.5b 28% 1.6b WHISKY NET INCOME* REVENUES BRANDY 72% 11% 15.2%

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EMPERADOR INC.

1H2019 FINANCIAL RESULTS

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SLIDE 2
  • 1. OUR FINANCIALS

1H2019 FINANCIAL RESULTS

  • 3. KEY TAKEAWAYS
  • 2. UPDATES
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72%

28%

BRANDY WHISKY

1.6b 11%

NET INCOME MARGIN *

REVENUE BREAKDOWN

*Attributable to parent

P21.5b 15.2% 1.9% P3.3b

REVENUES NET INCOME*

NET INCOME GROWTH *

OUR FINANCIALS

1H2019 Financial Highlights

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*Attributable to parent

2Q19 YoY 1H18 1H19 YoY Commentary REVENUES (PHPm)

10,425 7% 19,504 21,450 10%

Growth driven by imported brandy; whisky revenues in PHP affected by GBP weakness.

GROSS PROFIT (PHPm)

3,635

  • 2%

7,060 7,323 4%

Overall gross profit margin remains in mid 30s; raw material cost pressure still felt in brandy.

GROSS PROFIT MARGIN

35.3% 36.9% 34.8%

EBITDA (PHPm)

2,194

  • 1%

4,626 4,731 2%

Higher selling & distribution for brandy

EBITDA MARGIN

21.0% 23.7% 22.1%

NET INCOME* (PHPm)

1,512

  • 6%

3,190 3,250 2%

Lower margin due to

  • verall cost pressure for

brandy, both in COGS and OPEX

NET INCOME MARGIN*

14.5% 16.4% 15.2%

OUR FINANCIALS

1H19 Performance Update

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1,605 1,512 3,190 3,250 16.45% 14.51% 16.36% 15.15% 2Q18 2Q19 1H18 1H19

OUR FINANCIALS

Latest Financial Performance

Net Income (PHPm) & Margin* Gross Profit (PHPm) & Margin EBITDA (PHPm) & Margin Revenues (PHPm)

9,760 10,425 19,504 21,450 2Q18 2Q19 1H18 1H19 2,212 2,193 4,626 4,731 22.7% 21.0% 23.7% 22.1% 2Q18 2Q19 1H18 1H19 3,714 3,635 7,060 7,323 37.8% 35.3% 36.9% 34.8% 2Q18 2Q19 1H18 1H19 7% 10%

  • 2%

4%

  • 1%

2% 2%

  • 6%

*Attributable to parent

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OUR FINANCIALS

Financial History

Revenues (PHPm)

17,355 23,594 29,865 32,009 43,645 41,018 42,656 47,050

2011 2012 2013 2014 2015 2016 2017 2018

15% CAGR

Gross profit (PHPm) & Margin

4,445 8,210 9,225 10,903 13,679 15,306 14,942 16,041

26% 35% 31% 34% 31% 38% 35% 35% 2011 2012 2013 2014 2015 2016 2017 2018

19% CAGR

* Attributable to parent

Net income* (PHPm) & Margin

2,305 5,000 5,831 6,204 6,960 7,693 6,322 6,658

13% 21% 20% 19% 16% 19% 15% 14% 2011 2012 2013 2014 2015 2016 2017 2018

16% CAGR

EBITDA (PHPm) & Margin

3,377 7,145 8,323 8,738 9,609 11,023 9,641 10,332 19% 30% 28% 27% 22% 27% 23% 22%

2011 2012 2013 2014 2015 2016 2017 2018

17% CAGR

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OUR FINANCIALS

SEGMENT BREAKDOWN

(PHPm)

Revenues Gross Profit EBITDA Net Income 1H18 1H19 1H18 1H19 1H18 1H19 1H18 1H19 Brandy

13,393 15,344 4,705 4,786 3,569 3,452 2,373 2,268

Whisky

6,111 6,107 2,354 2,537 1,058 1,278 890 997

EMP Inc.

19,504 21,450 7,060 7,323 4,626 4,731 3,263 3,266

  • Revenues, net of intersegment
  • Net income is before deducting non-controlling interest.
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18.1% 19.7% 30.1% 32.7% 39.7% 41.3% 37.3% 38.9% 40.2% 35.2% 31.7% 31.6% 35.1% 31.6% 37.1% 34.6% 34.6% 34.8%

2014 2015 2016 2017 2018 1H19

Whisky Brandy

  • Emp. Inc

OUR FINANCIALS

Gross Profit Margin

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OUR FINANCIALS

Solid Capital Position

(PHPm) Cash Debt Net Debt Net Debt to Equity Commentary 1H19

6,362 37,904 31,542 50% Lower PHP equivalent of Euro loan due to Euro weakness and some debt repayment 6,362 32,568 26,206 41% Ex Equity-linked security

2018

6,228 39,274 33,045 54% Lower cash due to share buyback and dividend payout 6,228 34,015 27,786 45% Ex Equity-linked security

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  • 2. UPDATES
  • 1. OUR FINANCIALS
  • 3. KEY TAKEAWAYS

1H2019 FINANCIAL RESULTS

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FUNDADOR SUPREMO 18 YO

Best Brandy in the World 2019 International Wine and Spirit Competition (IWSC) Fundador Supremo 18 competed against 100 top-tier brandies from all over the world to win the IWSC Worldwide Brandy Trophy Award for 2019.

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c . Ph p 1 2 0 c . Ph p 3 5 0 c . Ph p 2 6 0

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UPDATES

Brandy Hierarchy

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c . P h p 1 , 7 0 0 c . P h p 2 , 5 0 0 c . P h p 1 , 9 0 0 c . P h p 1 , 2 5 0 c . P h p 3 , 5 8 0

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UPDATES

Malt Hierarchy

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  • 3. KEY TAKEAWAYS
  • 2. UPDATES
  • 1. OUR FINANCIALS

1Q2019 FINANCIAL RESULTS

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KEY TAKEAWAYS

Future-proofing, Premiumization and Profitability We want to secure our dominance in Philippine liquor while making a dent on global liquor. We are best positioned to do premiumization in the Philippines. We want margin sustainability and stability.

Future-proofing dominance Premiumization Profitability

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EMPERADOR INC.