Singapore Exchange Ltd. · SGX:S68

Singapore Exchange — Petra Foods — 9M 2010 Earnings Presentation

24 slides from Singapore Exchange's earnings presentation, Nov 11, 2010

  1. Slide 1: 3rd Quarter & 9-Month 2010 Financial Results

    (Registration no. 198403096C) (Registration no. 198403096C) 3rd Quarter & 9-Month 2010 Financial Results (unaudited) 11 November 2010 1

  2. Slide 2: Important note on forward-looking statements

    Important note on forward‐looking statements (Registration no. 198403096C) The presentation herein may contain forward looking statements by the management of Petra Foods Limited (“Petra”) that pertain to expectations for financial performance of future periods vs past periods. Forward‐looking state

  3. Slide 3: Scope of Briefing

    Scope of Briefing (Registration no. 198403096C) ƒ Strong Earnings Achieved by the Group ƒ Successful Execution of Growth Strategy ƒ Earnings Snapshot ƒ Appendices ¾ Petra’s Investment Highlights ¾ Successful Growth and Geographic Diversification of Group Revenue ¾ Strict Hedging minimises impact to

  4. Slide 4: Strong Earnings Achieved by the Group

    Strong Earnings Achieved by the Group (Registration no. 198403096C) 30 Net Profit Y Yo % US$28.1 m 84 (US$ million) Y Yo US$15.3 m 10 0% 11 US$10.3 m US$4.9 m 3Q 2009 3Q 2010 9M 2009 9M 2010 ƒ Strong performance across all our Businesses ƒ Key Drivers of the strong performance ‐ Higher sales volume,

  5. Slide 5: Successful Execution of Growth Strategy

    Successful Execution of Growth Strategy (Registration no. 198403096C) 30 S84% YoY Net Profit US$28.1 m (US$ million) S58% YoY S110% YoY 10 S92% YoY US$9.6 m US$10.3 m US$8.3 m 1Q 2010 2Q 2010 3Q 2010 9M 2010 ƒ Strong results reflect successful execution of Group’s growth strategy, especially for Eur

  6. Slide 6: Earnings Snapshot

    Earnings Snapshot (Registration no. 198403096C) YoY YoY In US$ Million 3Q 2010 3Q 2009 Change 9M 2010 9M 2009 Change Sales 433.1 323.7 34% 1,145.0 894.0 28% Cocoa Ingredients 333.0 239.9 39% 867.8 674.6 29% Branded Consumer 100.0 83.8 19% 277.2 219.4 26% EBITDA 27.7 17.7 57% 75.2 46.8 61% Cocoa Ingr

  7. Slide 7: Thank You

    (Registration no. 198403096C) Thank You 7

  8. Slide 8: Appendices

    (Registration no. 198403096C) Appendices 8

  9. Slide 9: Petra's Investment Highlights

    Petra’s Investment Highlights (Registration no. 198403096C) Cocoa Ingredients ƒ Strong earnings fundamentals driven by: (a) Well established customer base (c) Scalability of growth model (b) Compelling outsourcing trend Quality Earnings Branded Consumer ƒ Dominant market share and strong brand equit

  10. Slide 10: Successful Growth and Geographic Diversification of Group Revenue

    Successful Growth and Geographic Diversification of Group Revenue (Registration no. 198403096C) Revenue (US$ Million) 1,400 US$1,244 m 1,200 1,000 2 x Asia 3 . US$640 m 52% 800 x US$384 m 2.1 600 Asia 78% Europe 400 US$299 m 35% 7.8 x US$439 m Europe 14% 200 US$56 m 5.7 x The Americas The Americas 1

  11. Slide 11: Strict Hedging minimises impact to EBITDA yield

    Strict Hedging minimises impact to EBITDA yield (Registration no. 198403096C) Cocoa Bean Price EBITDA Yield (US$/Metric Tonne) (US$/Metric Tonne) Policy of strict hedging of cocoa bean 3,500 prices minimises impact to EBITDA yield 3,312 3,206 from volatility in bean prices 3,140 3,000 2,841 2,969 2,

  12. Slide 12: Financial Highlights

    (Registration no. 198403096C) Financial Highlights 12

  13. Slide 13: Balance Sheet & Cash Flow Analysis

    (Registration no. 198403096C) Balance Sheet & Cash Flow Analysis 13

  14. Slide 14: Balance Sheet Analysis

    Balance Sheet Analysis (Figures are at period end) (Registration no. 198403096C) (US$ Million) 30 Sep 10 31 Dec 09 Highlights (30 Sep 2010 vs 31 Dec 2009) Cash and Cash Equivalents 21.4 18.3 Trade Receivables 167.1 134.0 Inventories 460.5 354.8 ƒ Higher cocoa inventories on back of sharply higher be

  15. Slide 15: Cash Flow Applications

    Cash Flow Applications (Registration no. 198403096C) (US$ Million) 9 Months (2010) EBITDA 75.2 Less: Changes in Operating Cash Flow Working Capital - Net of Trade Finance/MTN (17.8) Tax Expense paid (16.3) Interest Expense (19.1) Operating Cash Flow 22.1 Less: Investing activities Acquisition of Min

  16. Slide 16: Profile of Group Loan Portfolio

    Profile of Group Loan Portfolio (Registration no. 198403096C) Breakdown of Debt Facilities Loan Repayment Schedule Repayment over 2012 (US$67.9m) Repayment 12.3% Working Term Loans from 2013 Capital and MTN onwards Repayment over 2011 (US$73.9m) 65.5% 34.5% (US$401.4m) 13.4% 72.6% Repayment over 4Q

  17. Slide 17: Group Financial Highlights - At a glance

    Group Financial Highlights ‐ At a glance (Registration no. 198403096C) YoY YoY In US$ Million 3Q 2010 3Q 2009 Change 9M 2010 9M 2009 Change Sales 433.1 323.7 33.8% 1,145.0 894.0 28.1% Cocoa Ingredients 333.0 239.9 38.8% 867.8 674.6 28.6% Branded Consumer 100.0 83.8 19.4% 277.2 219.4 26.3% EBITDA 27.

  18. Slide 18: Group 9M Financial Highlights (cont'd)

    Group 9M Half Financial Highlights (cont’d) (Registration no. 198403096C) 9M 2010 9M 2009 Change (%) EPS 5.00 US cents 2.87 US cents 74.4% As at 31 Dec 2009 30 Sep 2010 Audited Figures Net Debt/Equity 1.92 x 2.02 x Adjusted Net Debt/Equity (excluding 0.38 x 0.70 x Trade Finance and MTN) 18

  19. Slide 19: Cocoa Ingredients Division

    (Registration no. 198403096C) Cocoa Ingredients Division 19

  20. Slide 20: Cocoa Ingredients - Financial Highlights

    Cocoa Ingredients ‐ Financial Highlights (Registration no. 198403096C) YoY YoY (in US$ Million) 3Q 2010 3Q 2009 Change 9M 2010 9M 2009 Change Revenue 333.0 239.9 + 38.8% 867.8 674.6 + 28.6% EBITDA 14.7 7.4 + 98.7% 38.2 19.3 + 97.8% EBITDA/MT (6-month moving 223 121 + 84.3% 223 121 + 84.3% average) i

  21. Slide 21: Cocoa Ingredients - Financial Highlights

    Cocoa Ingredients ‐ Financial Highlights (Registration no. 198403096C) (Metric tonnes) Sales Volume 250,000 ƒ Robust volume growth of 8.5% in 9M 2 2 5 ,0 9 9 80,000 2 0 2 ,6 7 2 6 0 ,5 8 0 2010 6 3 ,5 7 4 6 1,9 4 1 6 4 ,3 7 1 5 7 ,18 1 60,000 5 2 ,7 7 0 5 2 ,8 4 7 40,000 ƒ Key volume growth drivers

  22. Slide 22: Branded Consumer Division

    (Registration no. 198403096C) Branded Consumer Division 22

  23. Slide 23: Branded Consumer - Financial Highlights

    Branded Consumer ‐ Financial Highlights (Registration no. 198403096C) YoY YoY (in US$ Million) 3Q 2010 3Q 2009 change 9M 2010 9M 2009 change Revenue 100.0 83.8 + 19.4% 277.2 219.4 + 26.3% - Indonesia 70.7 56.4 + 25.4% 192.2 145.8 + 31.8% - Regional Market 29.3 27.4 + 7.1% 85.0 73.6 + 15.5% Gross Pro

  24. Slide 24: Branded Consumer - Financial Highlights

    Branded Consumer ‐ Financial Highlights (Registration no. 198403096C) Own Brands vs 3rd Party Brands Geographic Revenue Breakdown FY 2004 9M 2010 FY 2004 9M 2010 Singapore rd 3 Party 7.7% Brands Own Brands Own 20.5% 52.8% Indonesia Indonesia Malaysia Brands rd 3 Party Brands 93.0% 69.3% 17.6% 79.5%

Petra Foods — 9M 2010 Earnings Presentation on 6ix