Ye a r-to -Da te Q3 F Y2008 F ina nc ia l Re sults Aug ust 2008 - - PowerPoint PPT Presentation

Ye a r-to -Da te Q3 F Y2008 F ina nc ia l Re sults

Aug ust 2008

Hig hlig hts

F I NANCI AL PE RF ORMANCE

BCF G* 20,979 25,222 +20% Agr

• Industr

ial 3,919 3,911 3,259 32,392 (0% ) Commodity F

• ods (Ne t)

2,583 +26% T

• tal URC

27,481 +18% BCF G* 1,345 1,595 +19% Agr

• Industr

ial 588 277 1,252 Cor por ate (356) (409) 2,715 (53% ) Commodity F

• ods

846 +48% T

• tal URC

2,423 +12%

Ope ra ting Inc ome (PhP MM)

* BCF G fig ure s inc lude Do me stic , I nte rna tio na l, a nd Pa c ka g ing

YT D Q3 2007

Sale s (PhP MM)

YTD Q3 FY2008 YTD Q3 FY2007

YT D Q32008

YoY %

Core Earnings

1,000 2,000 3,000

Ne t Sa le s

10,000 20,000 30,000

27,481 32.392

Ope ra ting Inc o me

1,000 2,000 3,000

2,497 2,712 2,423 2,715

Bra nde d Co nsume r F

• o ds - Philippine s

F I NANCI AL PE RF ORMANCE

Snac kfoods 1,219 1,297 +6% Be ve r age 425 375 115 Othe r s 22 (1) (105% ) 1,786 (12% ) Gr

• c e r

y (30) +489% T

• tal

1,637 +9%

Ope ra ting Inc ome (PhP MM)

Snac kfoods 8,706 10,517 +21% Be ve r age 3,818 4,269 1,932 Othe r s 596 771 +29% 17,489 +12% Gr

• c e r

y 1,645 +17% T

• tal

14,765 +18%

Sale s (PhP MM)

YT D Q3 2008 YT D Q3 2007

• Do me stic sa le s sho w

impre ssive do ub le dig it g ro wth a c ro ss a ll c a te g o rie s

• Sna c kfo o ds surg e s o n

impro ve d de ma nd a nd split o f Sna c ks/ Bisc uits sa le s fo rc e

• Be ve ra g e c o ntinue s to

drive ma rke t g ro wth

• Gro c e ry hit b y rising input

pric e s, b ut ha ve re c o ve re d

• E

xpo rts a ffe c te d b y rising Philippine pe so

No te : E xc lude s pac kaging

YoY %

CAT E GORY MARKE T SHARE

#1 #2 #3

19% 9% 9% 8%

Co o kie s 35%

28% 14% 11% 5% 6% 3% 10% 10% 17% 13% 82% 77%

Sna c ks 42% Cho c o la te s 24% T

• ma to Sa uc e

8% No o dle s* 13% Ca ndie s 47% Pre tze ls 68% Ca nne d Be a ns 74%

CAT E GORY MARKE T SHARE

#1 #2 #3

10% 5% 4% 82%

RT D T e a * 78% Co ffe e 10%

* RTD Tea – MAT Mar 2008; Noodles – MAT Apr 2008 Source: AC Nielsen survey MAT by value based on Mar / Apr 08 and Apr / May 08 readings

Dominant Mar ke t Shar e maintaine d

PHI L I PPI NE MARK E T

Bra nde d Co nsume r F

• o ds - I

nte rna tio na l

F I NANCI AL PE RF ORMANCE

Ope ra ting Inc ome (U

S $ M)

T ha ila nd 4.6 4.8 +4% Ma la ysia / SG 1.0 0.6 (38%) (3.2) (6.3) Vie tna m (3.1) (0.8) +76%

(4.9)

I ndo ne sia (1.8) (75%) China / HK (3.9) (61%)

T

• tal

(3.4) (47% )

Sale s (U

S $ M) YT D Q3 2008 YT D Q3 2007

T ha ila nd 56 71 +27% Ma la ysia / SG 23 30 +28% 19 15 Vie tna m 4 21 +408%

156

I ndo ne sia 19 (1%) China / HK 11 +45%

T

• tal

113 +38%

• US$ sa le s fo r the pe rio d

a lre a dy hig he r tha n e ntire F Y2007

• C2 sa le s vo lume in

Vie tna m surg ing ;

• pe ra tio ns pro fita b le in

la st two q ua rte rs

• C2 no w b e ing e xpo rte d to

T ha ila nd, Ma la ysia , a nd I ndo ne sia

YoY %

Ag ro -I ndustria l Gro up

F I NANCI AL PE RF ORMANCE

URC F e e ds

• L
• we r vo lume due to le ss

a nima ls o n the ma rke t

• Hig he r fe e d pric e s due

to rising c o sts o f inputs suc h a s c o rn a nd fe e d whe a t URC F a rms

• Hig he r me a t pric e s

c a use d b y lo we re d supply due to hig h fe e d c o sts

Ope ra ting Inc ome (PhP MM) Sale s (PhP MM)

YT D Q3 2008 YT D Q3 2007

F e e ds 268 168 (37% ) F ar ms 320 109 (66% ) 277 T

• tal

588 (53% ) F e e ds 1,897 1,804 (5% ) F ar ms 2,022 2,107 +4% 3,911 T

• tal

3,919 (0% )

YoY %

Co mmo dity F

• o ds Gro up

F I NANCI AL PE RF ORMANCE

URC Sug a r

• PASSI

sug a r mill a c q uire d in Oc to b e r

• I

nitia l de la y in milling due to ra iny we a the r during sta rt o f se a so n URC F lo ur

• Whe a t pric e s inc re a sing

wo rldwide , b ut URC suc c e ssfully b o o ke d lo we r c o st o f whe a t inve nto ry

Ope ra ting Inc ome (PhP MM) Sale s (PhP MM)

YT D Q3 2008 YT D Q3 2007

F lour 270 564 +109% Sugar 576 688 +19% 1,252 T

• tal

846 +48% F lour 2,672 3,683 +38% Sugar 1,748 2,168 +24% Subtotal 4,420 5,851 +32% T r ansfe r s (1,837) (2,591) +41% 3,259 T

• tal

2,583 +26%

YoY %

Asse ts a nd L ia b ilitie s

F I NANCI AL PE RF ORMANCE

Ca sh a nd F ina nc ia l De bt (PhP MM) F Y 2007

Re taine d E ar nings 20,300 19,868 Othe r E quity 14,696 14,075

33,943 T

• tal E

quity 34,996

5,000 10,000 15,000 20,000 25,000

FY2007 Q3 FY2008 Cash, Mkt. Se c uri ti e s, T e m p. I nve stm e nts F i nanc i al De bt

Q3 F Y2008

Cash and Cash E quivale nts 21,592 16,327 Othe r Cur re nt Asse ts 11,747 17,421 Pr

• pe r

ty Plant and E quipme nt – ne t 22,267 23,597 Othe r non- c ur r e nt Asse ts 3,068 3,822

61,167 T

• tal Asse ts

58,674

Curre nt L ia bilitie s 13,881 17,734 Nonc ur r e nt L iabilitie s 9,797 9,489

27,223 T

• tal L

iabilitie s 23,678

18,831 21,592 21,379 16,327 (PhP MM)

Ba la nc e She e t

PL ANS

Pla ns a nd E xpe c ta tio ns

Cor por ate

• Co ntinue 50% divide nd pa y-o ut po lic y
• Pursue M&A tha t will a dd va lue to the c o mpa ny
• Ca pita l e xpe nditure s o f a b o ut P3 b illio n in F

Y2008

• Sto c k b uy-b a c k pro g ra m

E xpe c tations

• Po sitive tre nds in do me stic BCF

G to c o ntinue , e spe c ia lly in sna c kfo o ds

• F

urthe r re c o ve ry in inte rna tio na l vo lume s, pa rtic ula rly in T ha ila nd a nd Vie tna m

• He a lthy vo lume s b ut ma rg in pre ssure fo r fa rms a nd fe e ds
• I

mpro ve d pro fita b ility in flo ur

• Re ve nue a nd E

BI T g ro wing in the mid-te e ns

T he E nd