FY15 RESULT PRESENTATION Jakarta, 28 March 2016 Financial Results - - PowerPoint PPT Presentation

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FY15 RESULT PRESENTATION Jakarta, 28 March 2016 Financial Results - - PowerPoint PPT Presentation

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FY15 RESULT PRESENTATION Jakarta, 28 March 2016 Financial Results FY15, 28 March 2016 Highlights FY15 Inflation rate declined from 8.36% YoY (FY14) to 3.35% YoY (FY15) Rupiah depreciated from 12,440 (FY14) to closing at 13,795 (FY15)

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FY15 RESULT PRESENTATION

Jakarta, 28 March 2016

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2

Financial Results FY15, 28 March 2016

Highlights FY15

  • Inflation rate declined from 8.36% YoY (FY14) to 3.35% YoY (FY15)
  • Rupiah depreciated from 12,440 (FY14) to closing at 13,795 (FY15)
  • CPO prices (CIF Rotterdam) weakened from US$ 816 / MT (FY14) to

US$ 615 / MT (FY15)

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3

Financial Results FY15, 28 March 2016

776 853 837 860 845 861 902 898 906 858 754 720 679 680 654 665 541 577 562

Dec-12 Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15

CPO Price

Monthly Average CPO Price (CIF Rotterdam)

Source : Oil World (in US$/Ton)

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Financial Results FY15, 28 March 2016

Rp Bn FY14 * FY15 Growth FY14 * FY15 Net Sales 63,594.5 64,061.9 0.7% Gross Profit Margin 26.9% 26.9% Cost of Goods Sold 46,465.6 46,803.9 0.7% EBIT Margin 11.5% 11.5% Gross Profit 17,128.8 17,258.1 0.8% EBITDA Margin 14.8% 15.3% Selling & distribution expenses (6,241.4) (6,885.6) 10.3% Net Income Margin 1) 6.2% 4.6% General & administrative expenses (3,902.2) (3,495.4)

  • 10.4%

Other operating income 727.0 859.2 18.2% EPS 1) 449 338 Other operating expenses (392.6) (373.3)

  • 4.9%

Income From Operations (EBIT) 7,319.6 7,362.9 0.6% ROA 2) 6.4% 4.2% EBITDA 9,440.5 9,810.6 3.9% ROE 2) 13.4% 8.9% Finance income 692.6 599.2

  • 13.5%

ROCE 2) 11.1% 10.7% Finance expenses (1,553.0) (2,665.7) 71.7% Share in net income (loss) of Associates (119.1) (334.3) 180.8% Income Before Income Tax Expense 6,340.2 4,962.1

  • 21.7%

Income tax expense - net (1,855.9) (1,730.4)

  • 6.8%

Income for the period from continuing operations 4,484.2 3,231.7

  • 27.9%

Income for the period from a discontinued operation 745.2 477.8

  • 35.9%

Income for the period 5,229.5 3,709.5

  • 29.1%

Equity holders of the parent entity 3,941.8 2,968.0

  • 24.7%

Non-controlling interests 1,287.7 741.5

  • 42.4%

Core Profit 1) 3,948.3 3,562.8

  • 9.8%

Financial Performance

1) Income for the period attributable to equity holders of the parent entity 2) Returns represent total returns including non-controlling interests * Restated

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Financial Results FY15, 28 March 2016

6,985.2 756.3 111.0 728.6 25.0 6,877.0

FY14 * CBP Bogasari Agribusiness Distribution FY15

63,594.5 1,793.8 561.0 879.0 113.7 64,061.9

FY14 * CBP Bogasari Agribusiness Distribution FY15

Changes in Sales and EBIT

Sales (Rp Bn) EBIT (Rp Bn) **

+ 467.4

* Restated ** After elimination and before unallocated expenses (other operating income and other operating expenses)

  • 108.2

( ) ( ) ( ) ( ) ( )

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Financial Results FY15, 28 March 2016

FY14 * FY15

Distribution Agribusiness Bogasari Consumer Branded Products

FY14 * FY15

Segment Contribution

Sales (Rp Bn) 1) EBIT (Rp Bn) 2)

63,594.5 64,061.9 46.9% 25.2% 20.3% 7.6% 49.3% 24.1% 18.8% 7.8% 44.4% 20.8% 32.0% 56.1% 19.5% 21.9% 2.5% 6,985.2 6,877.0

1) After elimination 2) After elimination and before unallocated expenses (other operating income and other operating expenses) * Restated

2.8%

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Financial Results FY15, 28 March 2016

29,920.9 31,736.0

FY14 * FY15

CBP

* Restated ** Before elimination and unallocated expenses (other operating income and other operating expenses)

Sales (Rp Bn) EBIT (Rp Bn)**

Sales Growth 6.1% EBIT Growth 24.6%

3,095.9 3,856.3 10.3% 12.2%

FY14 * FY15

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Financial Results FY15, 28 March 2016

1,456.8 1,341.0 7.3% 7.0%

FY14 * FY15

19,926.1 19,177.0

FY14 * FY15

Bogasari

* Restated ** Before elimination and unallocated expenses (other operating income and other operating expenses)

Sales Growth

  • 3.8%

Volume Growth (Food Flour) 1% EBIT Growth

  • 7.9%

Sales (Rp Bn) EBIT (Rp Bn)**

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9

Financial Results FY15, 28 March 2016

Agribusiness

* Restated ** Before elimination and unallocated expenses (other operating income and other operating expenses)

Sales (Rp Bn) EBIT (Rp Bn)**

14,947.2 13,803.0

FY14 * FY15

2,234.8 1,505.6 15.0% 10.9%

FY14 * FY15

Sales Growth

  • 7.7%

EBIT Growth

  • 32.6%
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Financial Results FY15, 28 March 2016

Distribution

* Restated ** Before elimination and unallocated expenses (other operating income and other operating expenses)

Sales (Rp Bn) EBIT (Rp Bn)**

4,864.6 4,978.3

FY14 * FY15

196.9 172.0 4.0% 3.5%

FY14 * FY15

Sales Growth 2.3% EBIT Growth

  • 12.7%
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Financial Results FY15, 28 March 2016

Financial Position

Note: * Restated ** Trust Receipts: US$ 315.34 Mn (FY14) and US$ 11.14 Mn (FY15)

Rp Billion FY14 * FY15 Growth Cash & Cash Equivalent 14,157.6 13,076.1

  • 7.6%

Total Assets 86,077.2 91,831.5 6.7% Total Equity 40,274.2 43,121.6 7.1% Funded Debt 26,933.6 27,605.8 2.5%

  • Fcy (in US$ mn)

1,131.8 822.5

  • 27.3%
  • Rupiah

12,854.0 16,258.9 26.5% Rp Billion FY14 * FY15 Growth Short Term Debt & Trust Receipt ** 8,992.6 7,719.1

  • 14.2%

Current Maturities 1,103.1 2,992.7 171.3% Long Term Debt 16,837.9 16,894.0 0.3% Total Funded Debt 26,933.6 27,605.8 2.5%

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Financial Results FY15, 28 March 2016

52.3% 41.1% 47.7% 58.9%

FY14 * FY15

Foreign Currency Debt Rupiah Debt

37.5% 38.8% 62.5% 61.2%

FY14 * FY15

Short Term & T/R Long Term

Times FY14 * FY15 Gross Gearing 0.67 0.64 Net Gearing 0.32 0.34 Interest Coverage Ratio 6.3 6.4

Debt Composition

* Restated

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Financial Results FY15, 28 March 2016

Cash Flow

* Restated ** Cash & Cash Equivalents – Beginning & End after taking into account overdraft

Rp Billion FY14 * FY15 Net Cash Generated from Operating Activities 9,269.3 4,213.6 Net Cash Used in Investing Activities (10,162.6) (5,665.9) Net Cash Provided by / (Used in) Financing Activities 1,402.7 (140.8) Net Effects of Changes in Exchange Rates on Cash & Cash Equivalents 129.6 514.7 Net Increase / (Decrease) in Cash & Cash Equivalents 639.1 (1,078.4) Cash & Cash Equivalents at Beginning of Year ** 13,518.7 14,040.4 Cash & Cash Equivalents at End of Year ** 14,157.8 12,962.0

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Financial Results FY15, 28 March 2016

Capital Expenditure Budget

Group / Division Budget 16 CBP 3,865 Bogasari 1,367 Agribusiness 1,968 Distribution 375 Total 7,574

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Financial Results FY15, 28 March 2016

APPENDIX

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Financial Results FY15, 28 March 2016 1) Food Flour only 2) EBIT margin per segment: Before elimination and unallocated expenses * Restated

Segment Performance: Indofood

Division Sales (Rp Bn) Volume 1) EBIT (Rp Bn) EBIT Margin 2) FY14 * FY15 Growth Growth FY14 * FY15 Growth FY14 * FY15 Consumer Branded Products 29,920.9 31,736.0 6.1% 3,095.9 3,856.3 24.6% 10.3% 12.2% Bogasari 19,926.1 19,177.0

  • 3.8%

1% 1,456.8 1,341.1

  • 7.9%

7.3% 7.0% Agribusiness 14,947.2 13,803.0

  • 7.7%

2,234.8 1,505.6

  • 32.6%

15.0% 10.9% Distribution 4,864.6 4,978.3 2.3% 196.9 172.0

  • 12.7%

4.0% 3.5% Total 69,658.8 69,694.2 0.1% 6,984.4 6,875.0

  • 1.6%

Elimination (6,064.4) (5,632.3) 0.8 2.0 Unallocated Income (Expenses) 334.4 485.9 Net 63,594.5 64,061.9 0.7% 7,319.6 7,362.9 0.6% 11.5% 11.5%

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Financial Results FY15, 28 March 2016

Segment Performance: ICBP (based on ICBP figures)

1) EBIT margin per segment: Before elimination and unallocated expenses * Restated

Division Sales (Rp Bn) Volume EBIT (Rp Bn) EBIT Margin ¹⁾ FY14 * FY15 Growth Growth FY14 * FY15 Growth FY14 * FY15 Noodles 19,915.6 20,996.1 5.4% 1% 3,022.0 3,479.0 15.1% 15.2% 16.6% Dairy 5,248.2 5,879.8 12.0% 17% 321.6 569.0 76.9% 6.1% 9.7% Snack Foods 2,002.2 1,989.3

  • 0.6%
  • 9%

27.5 83.9 205.0% 1.4% 4.2% Food Seasonings 1,146.4 1,246.5 8.7%

  • 3%

88.7 91.3 3.0% 7.7% 7.3% Nutrition & Special Foods 577.8 610.2 5.6%

  • 4%

11.8 14.1 18.9% 2.0% 2.3% Beverages 1,923.0 1,842.0

  • 4.2%

0% (351.5) (330.9) 5.9%

  • 18.3%
  • 18.0%

Elimination (790.7) (822.8) (0.6) 1.6 Unallocated Income (Expenses) 65.8 84.3 Net 30,022.5 31,741.1 5.7% 3,185.3 3,992.4 25.3% 10.6% 12.6%

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Financial Results FY15, 28 March 2016

Segment Performance: Agribusiness (based on SIMP figures)

Division Sales (Rp Bn) Volume EBIT (Rp Bn) EBIT Margin ¹⁾ FY14 * FY15 Growth Growth FY14 * FY15 Growth FY14 * FY15 Plantations 10,277.5 9,149.0

  • 11.0%

2,380.6 1,434.3

  • 39.8%

23.2% 15.7% CPO 3% PK, PKO, PKE 7% Sugar

  • 9%

Rubber 0% Edible Oils & Fats 9,834.6 8,419.4

  • 14.4%
  • 4%

95.5 199.0 108.4% 1.0% 2.4% Elimination (5,149.5) (3,733.0) 125.0 2.4 Unallocated Income (Expenses) (121.1) (3.7) Net 14,962.7 13,835.4

  • 7.5%

2,480.0 1,631.9

  • 34.2%

16.6% 11.8%

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Financial Results FY15, 28 March 2016

Oil Palm Plantations Profile

*) Cocoa and Tea

In Hectar 31 Dec, 2014 31 Dec, 2015 Increase/ (Decrease) Nucleus Total Planted Area 300,050 300,633 583 Planted Oil Palm 246,055 246,359 304

  • Mature

185,181 187,400 2,219

  • Immature

60,874 58,959 (1,915) Other Crops

  • Rubber

21,697 21,338 (359)

  • Sugar

13,062 13,358 296

  • Industrial Timber

16,169 16,216 47

  • Others *

3,067 3,362 295

Combined Plantations Area as of December 31, 2015

Immature, 24% 4 - 6 yrs, 4% 7 - 20 yrs, 47% Over 20 yrs, 25%

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Financial Results FY15, 28 March 2016

FY14 FY15 Growth Planted Area (Ha) (Nucleus) 246,055 246,359 0.1% Mature Area (Ha) 185,181 187,400 1.2% FFB Production (Ths MT) (Nucleus) 3,259 3,414 4.7% FFB Yield (Nucleus) (MT/Ha) 17.6 18.2 CPO Production (Ths MT) 956 1,002 4.8% CPO Extraction Rate (%) 22.4 22.2 PK, PKO, PKE Production (Ths MT) 241 278 15.7% PK Extraction Rate (%) 5.1 5.2

Plantation Highlights

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Disclaimer

This presentation was prepared solely and exclusively for the parties presently being invited for the purpose of

  • discussion. Neither this presentation nor any of its content

may be reproduced, disclosed or used without prior written consent of PT Indofood Sukses Makmur Tbk. The Company is not responsible or liable for any decisions made by investors or analysts based on the information provided in this presentation.

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THANK YOU