Ye a r-to -Da te Y2008 ina nc ia l Re sults Ma y 2008 Q2 F F - - PDF document

Ye a r-to -Da te Q2 F Y2008 F ina nc ia l Re sults

Ma y 2008

Hig hlig hts

F I NANCI AL PE RF ORMANCE

Ne t Sa le s

5,000 1 0,000 1 5,000 20,000 25,000

Ope ra ting Inc o me

500 1,000 1,500 2,000

Co re Ea rning s

500 1,000 1,500 2,000

BCF G* 13,995 16,376 +17% Agr

• Industr

ial 2,667 2,802 1,976 21,154 +5% Commodity F

• ods (Ne t)

1,647 +20% T

• tal URC

18,309 +16% BCF G* 857 1,000 +17% Agr

• Industr

ial 392 322 737 Cor por ate (219) (253) 1,806 (18% ) Commodity F

• ods

582 +27% T

• tal URC

1,612 +12%

Ope rating 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

1,612

YT D Q2 2007

1,806 18,309 21,154 1,605 1,799

Sale s (PhP MM)

YTD Q2 FY2008 YTD Q2 FY2007

YT D Q2 2008

YoY %

Bra nde d Co nsume r F

• o ds - Philippine s

F I NANCI AL PE RF ORMANCE

Snac kfoods 767 902 +18% Be ve r age 222 236 30 Othe r s 5 (57) (1250% ) 1,111 +6% Gr

• c e r

y 4 +576% T

• tal

998 +11%

Ope rating Inc ome (PhP MM)

Snac kfoods 5,837 6,976 +20% Be ve r age 2,335 2,829 1,269 Othe r s 389 443 +14% 11,517 +21% Gr

• c e r

y 1,123 +13% T

• tal

9,684 +19%

Sale s (PhP MM)

YT D Q2 2008 YT D Q2 2007

• Do me stic ma rke t re c o ve rs

fro m slo w g ro wth in pre vio us ye a r

• Sna c kfo o ds g ro ws 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 no w re c o ve ring

• E

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

No te : E xc lude s pac kaging

YoY %

1000 1200 1400 1600 1800 2000 2200 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep (PhP millions) FY2008 FY2007 FY2006

2000 4000 6000 8000 10000 12000 14000 J u n

• 4

S e p

• 4

D e c

• 4

M a r

• 5

J u n

• 5

S e p

• 5

D e c

• 5

M a r

• 6

J u n

• 6

S e p

• 6

D e c

• 6

M a r

• 7

J u n

• 7

S e p

• 7

D e c

• 7

M a r

• 8

Snac kfoods gr

• wing ste adily

Philippines C2 sales volume (‘000 liters) BCFG Domestic Sales

10,857

PHI L I PPI NE MARK E T

Dome stic sale s sur ging; be ve r age gr

• wth c ontinue s

Cho c o la te s +10% So ft/ Ha rd Ca ndie s +8% Bisc uits +1% RT E – Be a ns +1% I nsta nt No o dle s

• 1%

T

• ma to Sa uc e
• 10%

Sna c ks +5%

Sour c e : AC Nie lse n Cate gor y T r e nd Sur ve y – MAT De c 2007; volume gr

• wth

3-in-1 c o ffe e +56% T e a +41% Pa c ka g e d wa te r +9% Ca rb o na te d so ft drink +5% Re a dy to drink – Juic e +5% I so to nic drinks +47% E ne rg y drinks +19% Re a dy to drink – Co ffe e +9%

7,762

CAT E GORY MARKE T SHARE

#1 #2 #3

19% 10% 8% 8%

Co o kie s* 32%

25% 15% 10% 5% 6% 3% 10% 10% 14% 14% 82% 77%

Sna c ks 42% Cho c o la te s* 26% T

• ma to Sa uc e

8% No o dle s* 13% Ca ndie s 47% Pre tze ls* 66% Ca nne d Be a ns 74%

CAT E GORY MARKE T SHARE

#1 #2 #3

10% 5% 4% 81%

RT D T e a * 78% Co ffe e 11%

• Chocolates, Cookies, Pretzels – MAT Dec/Jan 2008;

Noodles, RTD Tea – MAT Mar 2008 Source: AC Nielsen survey MAT by value based on Jan / Feb 08 and Feb / Mar 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 rating Inc ome (U

S $ M)

T ha ila nd 2.7 3.3 +21% Ma la ysia / SG 0.3 0.4 +9% (1.6) (3.6) Vie tna m (2.0) (0.8) +60%

(2.3)

I ndo ne sia (0.0)

• China / HK

(2.2) (67%)

T

• tal

(1.1) (117% )

Sale s (U

S $ M) YT D Q2 2008 YT D Q2 2007

T ha ila nd 38 47 +23% Ma la ysia / SG 15 18 +21% 12 11 Vie tna m 3 11 +273%

99

I ndo ne sia 13 (7%) China / HK 8 +33%

T

• tal

77 +26%

• Sa le s g ro wth a t do ub le

dig its o nc e a g a in

• C2 sa le s vo lume in

Vie tna m surg ing , re a c hing 635,000 c a se s so ld in Ma rc h 2007

• 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 dise a se

• utb re a ks a nd hig h fe e d

c o sts

Ope rating Inc ome (PhP MM) Sale s (PhP MM)

YT D Q2 2008 YT D Q2 2007

F e e ds 185 122 (34% ) F ar ms 206 200 (3% ) 322 T

• tal

391 (18% ) F e e ds 1,249 1,260 +1% F ar ms 1,418 1,542 +9% 2,802 T

• tal

2,667 +5%

YoY %

Co mmo dity F

• o ds Gro up

F I NANCI AL PE RF ORMANCE

URC Sug a r

• Mill e xpa nsio n finishe d in

time fo r 2008 milling se a so n

• PASSI

sug a r mill a c q uire d in Oc to b e r URC F lo ur

• Whe a t pric e s inc re a sing

wo rldwide

Ope rating Inc ome (PhP MM) Sale s (PhP MM)

YT D Q2 2008 YT D Q2 2007

F lour 210 333 +59% Sugar 372 404 +9% 737 T

• tal

582 +27% F lour 1,775 2,466 +39% Sugar 1,028 1,170 +14% Subtotal 2,803 3,636 +30% T r ansfe r s (1,156) (1,660) +44% 1,976 T

• tal

1,647 +20%

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 20,795 Othe r E quity 14,696 14,138

34,933 T

• tal E

quity 34,996

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

FY2007 1H 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

1HF Y2008

Cash and Cash E quivale nts 21,592 14,947 Othe r Cur re nt Asse ts 11,747 16,650 Pr

• pe r

ty Plant and E quipme nt – ne t 22,267 22,951 Othe r non- c ur r e nt Asse ts 3,068 3,252

57,800 T

• tal Asse ts

58,674

Curre nt L iabilitie s 13,881 13,890 Nonc ur r e nt L iabilitie s 9,797 8,977

22,867 T

• tal L

iabilitie s 23,678

18,831 21,592 16,427 14,947 (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
• Re ve nue a nd E

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

T he E nd