Mewah International Inc. · SGX:MV4
Mewah International — Q3 2019 Earnings Presentation
21 slides from Mewah International's earnings presentation, Nov 8, 2019
Slide 1: Q3 2019 and 9M 2019 Financial Results Summary
8TH Nov, 2019 Q3 2019 and 9M 2019 Financial Results Summary Mewah International Inc.
Slide 2: Notice
Notice This presentation should be read in conjunction with Mewah International Inc.’s Unaudited Financial Statements for the Third Quarter and Nine Months Period Ended 30 September 2019 lodged on the SGXNET on 8th November, 2019. 2
Slide 3: Performance Summary
Performance Summary In US$ million Net Profit* 9M 2019 10.2 9M 2018 6.2 YOY change 65.6% Q3 2019 7.4 Q3 2018 0.8 YOY change 882.2% Q2 2019 1.9 QOQ change 289.5% * Profit after tax attributable to equity holders of the Company 3
Slide 4: Income Statement | Q3 2019
Income Statement | Q3 2019 In US$ million, unless stated otherwise Q3 2019 Q3 2018 % change Q2 2019 % change 9M 2019 9M 2018 % change Sales volume (MT'000) 1,112.9 1,027.0 8.4% 1,141.5 -2.5% 3,429.9 3,136.5 9.4% ASP (US$) 616.6 687.2 -10.3% 608.7 1.3% 613.8 728.6 -15.8% Revenue 686.2 705.8 -2.8% 694
Slide 5: Income Statement | CPO prices vs. OM per MT
Income Statement | CPO prices vs. OM per MT 2018 2019 3,500 800 Series1 700 3,000 600 2,500 CPO Prices - Ringgit Malaysia 500 2,000 CPO Prices - US$ 5.7% 5.7% 400 4.4% 1,500 4.0% 3.7% 3.5% 300 3.0% Average @ US$29.3 Average @ US$27.0 1,000 200 35.0 32.9 500 100 25.3 24.6 35.8 21.8 22.3 - - Q1 2018 Q
Slide 6: Segmental Performance | Q3 2019
Segmental Performance | Q3 2019 YOY QOQ YOY Q3 2019 Q3 2018 Change Q2 2019 Change 9M 2019 9M 2018 Change Bulk segment Sales volume (MT’000) 829.3 756.8 9.6% 897.9 -7.6% 2,597.3 2,327.1 11.6% Average selling prices (US$) 571.7 643.5 -11.2% 573.3 -0.3% 569.8 685.7 -16.9% Revenue (US$’million) 474.1 48
Slide 7: Sales Volume & Revenue | Q3 2019 | YOY
Sales Volume & Revenue | Q3 2019 | YOY In US$ million, unless stated otherwise +8.4% -10.3% Total Q3 2018 Q3 2019 Change % 705.8 686.2 Sales volume (MT'000) 1,027.0 1,112.9 8.4% Total -2.8% Avg Selling Price (US$) 687.2 616.6 -10.3% Revenue 705.8 686.2 -2.8% Q3 2018 Volume ASP per MT Q3 2019 +9.6% -
Slide 8: Sales Volume & Revenue | Q3 2019 | QOQ
Sales Volume & Revenue | Q3 2019 | QOQ In US$ million, unless stated otherwise 694.8 -2.5% +1.3% 686.2 Total Q2 2019 Q3 2019 Change % Total Sales volume (MT'000) 1,141.5 1,112.9 -2.5% Avg Selling Price (US$) 608.7 616.6 1.3% -1.2% Revenue 694.8 686.2 -1.2% Q2 2019 Volume ASP per MT Q3 2019 491.1 -4.
Slide 9: Sales Volume & Revenue | 9M 2019
Sales Volume & Revenue | 9M 2019 In US$ million, unless stated otherwise +9.4% -15.8% 2,285.1 Total 9M 2018 9M 2019 Change % 2,105.3 Total Sales volume (MT'000) 3,136.5 3,429.9 9.4% -7.9% Avg Selling Price (US$) 728.6 613.8 -15.8% Revenue 2,285.1 2,105.3 -7.9% 9M 2018 Volume ASP per MT 9M 2019 1,595
Slide 10: Operating margin | Q3 2019 | YOY
Operating margin | Q3 2019 | YOY In US$ million, unless stated otherwise +2.1 +10.8 38.9 Total Q3 2018 Q3 2019 Change % 26.0 Sales volume (MT'000) 1,027.0 1,112.9 8.4% Total +8.4% +38.3% Operating Margin per MT (US$) 25.3 35.0 38.3% +50.0% Operating margin 26.0 38.9 50.0% Q3 2018 Volume OM per MT Q3
Slide 11: Operating margin | Q3 2019 | QOQ
Operating margin | Q3 2019 | QOQ In US$ million, unless stated otherwise -0.7 +11.5 38.9 Total Q2 2019 Q3 2019 Change % 28.1 Total Sales volume (MT'000) 1,141.5 1,112.9 -2.5% -2.5% +42.3% Operating Margin per MT (US$) 24.6 35.0 42.3% +38.4% Operating margin 28.1 38.9 38.4% Q2 2019 Volume OM per MT Q
Slide 12: Operating margin | 9M 2019
Operating margin | 9M 2019 In US$ million, unless stated otherwise +7.9 -0.2 92.6 84.9 Total 9M 2018 9M 2019 Change % Total Sales volume (MT'000) 3,136.5 3,429.9 9.4% +9.4% -0.4% Operating Margin per MT (US$) 27.1 27.0 -0.4% +9.2% Operating margin 84.9 92.6 9.2% 9M 2018 Volume OM per MT 9M 2019 +5.8
Slide 13: Revenue | Geographical spread | Total Sales
Revenue | Geographical spread | Total Sales Q3 2019 9M 2019 Middle East, Rest of Asia, 23% Rest of Asia, Middle East, 34% Malaysia/ Malaysia/ 33% 19% Singapore, Other, 49% Singapore, Other, 53% 51% Europe , 17% 47% Europe , 10% Africa, 20% Americas, 6% Africa, 23% Americas, 7% Pacific Pacific Oceani
Slide 14: Revenue | Geographical spread | Bulk Sales
Revenue | Geographical spread | Bulk Sales Q3 2019 9M 2019 Rest of Asia, Rest of Asia, 51% 50% Malaysia/ Europe, 22% Malaysia/ Singapore, Other, 36% Singapore, Other, 32% 64% Americas, 6% 68% Americas, 4% Europe, 9% Pacific Oceania, Middle East, Pacific Oceania, Middle East, 21% 2% 2% 33% Q3 2019 9M
Slide 15: Revenue | Geographical spread | Consumer Pack Sales
Revenue | Geographical spread | Consumer Pack Sales Q3 2019 9M 2019 Africa, Middle East Africa 18% 38% Middle East, Malaysia/ Malaysia/ 37% 18% Other Singapore, Other, 90% Singapore 89% 10% Pacific Rest of Asia, 11% Pacific Oceania Rest of Asia Oceania, 6% Europe 19% 6% 19% 13% Americas, 8% Americas
Slide 16: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 31 Dec 2018 30 Sep 2019 922.5 922.5 749.4 749.4 Working Current net debt Capital 355.9 38.6% 509.7 Working Current net debt Capital 197.3 26.3% 304.0 Non-current net debt Non-current net debt 46.3 5.0% 29.3 3.9% Equity Equity Long-term 520.2 Long-term 69.8% 56.
Slide 17: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 749.4 749.4 197.3 Current net debt 304.0 64.9% Working capital 53.1% 106.7 Equity 35.1% - 29.3 Non-current debt 6.6% Long-term 445.4 Equity 416.1 93.4% investments 46.9% Investment Capital Actual Actual Debt / Equity Ratio Q3 2019 FY 2018 Objective Long-term in
Slide 18: Balance Sheet | Liquidity
Balance Sheet | Liquidity Gross debt to equity Non-current debt repayment schedule Year 2 16.0 Year 3 4.4 Year 4 4.4 0.87 Year 5 3.6 0.78 0.56 > Year 5 0.9 0.46 Total 29.3 2016 2017 2018 9M 2019 In US$ million Net debt to equity Trade finance facilities utilisation Utilised % Facility 545.7 Utilised
Slide 19: Cycle time
Cycle time Inventory days Trade receivable days 49 52 31 31 39 27 27 29 2016 2017 2018 9M 2019 2016 2017 2018 9M 2019 Trade payable days Cycle time 2016 2017 2018 9M 2019 (16) (18) (18) (20) 60 61 44 48 2016 2017 2018 9M 2019 Cycle time is calculated as Inventory days + Trade receivable days – Trade
Slide 20: Cash Flows Statement | Summary
Cash Flows Statement | Summary In US$ million Q3 2019 Q3 2018 9M 2019 9M 2018 Operating cash flows before working capital changes 18.5 6.1 35.9 26.3 Changes in operating assets and liabilities 72.0 (36.8) 189.2 (3.7) Net interest and income tax payment (2.0) (4.5) (11.0) (13.4) Net cash flows from o
Slide 21: Thank you
Thank you Any questions, contact: Bianca Cheo, Chief Operating Officer Ph: (65) 6829 5255| mail: ir@mewahgroup.com 21