Mewah International Inc. · SGX:MV4
Mewah International — FY2024 Earnings Presentation
24 slides from Mewah International's earnings presentation, February 2025
Slide 1: FY 2024 Financial Results Summary
FY 2024 FINANCIAL RESULTS SUMMARY
Slide 2: Notice
NOTICE This presentation has been prepared by Mewah International Inc. for information purposes and should be read together with the Financial Statements for the Year Ended 31 December 2024 (“2024”) which were lodged to SGXNET on 28 February 2025. This presentation is not to be interpreted as consti
Slide 3: Contents
CONTENTS Cash Flow Statement Balance Sheet Income Statement Performance Summary 2
Slide 4: Performance Summary
REALISING GROWTH BYS DELIVERING rt . = PERFORMANCE 3 ‘= wa SUMMARY a
Slide 5: FY Performance Summary
FY PERFORMANCE SUMMARY In US$mil -4.4% 40.6 38.8 NET PROFIT* FY 2023 FY 2024 * Profit after tax attributable to equity holders of the Company 4
Slide 6: CPO Prices
CPO PRICES 2023 2024 1,400 CPO Prices (USD) CPO Prices (RM) 6,000 Operating Margin % 1,200 OM per MT (US$) CPO Prices - US$ per MT 1,000 CPO Prices - MYR per MT 4,000 800 600 5.6% 5.2% 4.2% 3.8% 2,000 400 Average @ US$46.4 Average @ US$43.2 200 50.7 47.7 - 41.9 39.8 - H1 2023 H2 2023 H1 2024 H2 2024
Slide 7: Income Statement
REALISING GROWTH BYS DELIVERING INCOME STATEMENT
Slide 8: FY Income Statement
FY INCOME STATEMENT % FY 2024 FY 2023 change Sales volume (MT'000) 4,781.8 4,334.6 10.3% Average selling prices per MT (US$) 1,000.0 951.4 5.1% Revenue 4,782.0 4,123.8 16.0% OM per MT (US$) 43.2 46.4 -6.9% Operating margin ("OM") 206.6 201.1 2.8% Operating margin (%) 4.3% 4.9% -12.2% Other (losses)/
Slide 9: FY Sales Volume & Revenue
FY SALES VOLUME & REVENUE In US$ million, unless stated otherwise Change FY 2023 FY 2024 % Sales Volume +10.3% +5.1% 4,334.6 4,781.8 10.3% (MT’000) +16.0% Avg Selling Price 951.4 1,000.0 5.1% 4,782.0 (ASP) (US$) 4,123.8 Revenue 4,123.8 4,782.0 16.0% 8
Slide 10: FY Segmental Sales Volume & Revenue
FY SEGMENTAL SALES VOLUME & REVENUE FY BULK FY 2023 FY 2024 Change % Sales Volume (MT’000) 3,155.7 3,607.7 14.3% +14.3% +6.6% 2,886.8 3,518.5 +21.9% Avg Selling Price (ASP) 914.8 975.3 6.6% (US$) Revenue 2,886.8 3,518.5 21.9% FY CONSUMER PACK FY 2023 FY 2024 Change % -0.4% +2.6% Sales Volume (MT’000
Slide 11: FY Geographical Spread - Revenue (Total)
FY GEOGRAPHICAL SPREAD - REVENUE TOTAL Based on Billing address of the customer Americas Pacific Americas Pacific Europe Europe 1% Oceania 1% Oceania 3% 3% 2% 2% Middle East Middle East 9% 12% Africa FY 2024 7% Africa 9% FY 2023 Malaysia/ Malaysia/ Singapore Singapore Rest of Asia 54% Rest of Asia 5
Slide 12: FY Geographical Spread - Revenue (Bulk)
FY GEOGRAPHICAL SPREAD - REVENUE BULK Based on Billing address of the customer Europe Pacific Europe Pacific 2% Oceania 2% Oceania 1% 1% Middle East Middle East 9% 11% Rest of Asia Rest of Asia 25% FY 2024 16% FY 2023 Malaysia/ Singapore Malaysia/ 63% Singapore 70% 11
Slide 13: FY Geographical Spread - Revenue (Consumer Pack)
FY GEOGRAPHICAL SPREAD - REVENUE CONSUMER PACK Based on Billing address of the customer Americas Pacific Americas Pacific 4% Oceania 4% Oceania Europe 4% Europe 4% 7% 6% Malaysia/ Malaysia/ Singapore Singapore 28% 21% Middle East 11% FY 2024 Middle East 15% FY 2023 Rest of Asia 22% Africa Rest of As
Slide 14: FY Operating Margin
FY OPERATING MARGIN In US$ million, unless stated otherwise Change FY 2023 FY 2024 % +10.3% -6.9% Sales Volume 4,334.6 4,781.8 10.3% (MT’000) +2.7% Operating Margin per 46.4 43.2 -6.9% 201.1 206.6 MT (US$) Operating Margin 201.1 206.6 2.7% 13
Slide 15: FY Segmental Operating Margin
FY SEGMENTAL OPERATING MARGIN FY BULK FY 2023 FY 2024 Change % Sales Volume (MT’000) 3,155.7 3,607.7 14.3% +14.3% -16.8% 101.4 -5.0% 96.3 Operating Margin per MT 32.1 26.7 -16.8% (US$) Operating Margin 101.4 96.3 -5.0% FY CONSUMER PACK FY 2023 FY 2024 Change % -0.4% +11.0% Sales Volume (MT’000) 1,17
Slide 16: Balance Sheet
REALISING GROWTH BYS DELIVERING
Slide 17: Source & Application of Capital
SOURCE & APPLICATION OF CAPITAL Balance Sheet as at 31 December 2024 In US$ million 1,343.2 1,343.2 Current net debt 47.8% 394.9 Working capital 61.5% 826.1 Equity 52.2% 431.2 Non-current 123.8 debt Long-term 23.9% investments 517.1 38.5% Equity 393.3 76.1% Capital Investment 16
Slide 18: Source & Application of Capital
SOURCE & APPLICATION OF CAPITAL 31-Dec-24 % 31-Dec-23 % Change Long-term investments 517.1 38.5% 490.7 46.9% 5.4% Working capital 826.1 61.5% 555.5 53.1% 48.7% Total investments 1343.2 100% 1046.2 100% 28.4% Equity 824.5 61.4% 786.5 75.2% 4.8% Gross debt (A) 661.6 49.3% 391.6 37.4% 68.9% Cash (B) 14
Slide 19: Source & Application of Capital
SOURCE & APPLICATION OF CAPITAL In US$ million 31 Dec 2024 31 Dec 2023 1,343.2 1,343.2 Current net debt 29.4% 394.9 1,046.2 1,046.2 Current net debt Working capital 14.9% Non-current net debt 156.2 826.1 9.2% Non-current net debt 123.8 9.9% Working capital 103.5 555.5 Non-current net debt Non-curren
Slide 20: Liquidity
LIQUIDITY Term loan repayment schedule 31 Dec 2024 In US$ million Non-current debt Current debt Cash & cash equivalents (in US$ million) Gross debt and Gross debt, 662 Gross debt, 541 Gross debt, 392 net debt Net debt, 519 FY 2025 28.1 Net debt, 260 Net debt, 438 FY 2026 27.3 FY 2027 41.3 FY 2028 22
Slide 21: Cycle Time
CYCLE TIME* 44 42 34 57 58 69 FY 2022 FY 2023 FY 2024 FY 2022 FY 2023 FY 2024 Cycle time Inventory days FY 2022 FY 2023 FY 2024 40 34 27 (11) (11) (15) FY 2022 FY 2023 FY 2024 Trade receivable days Trade payable days * Cycle time is calculated as Inventory days + Trade receivable days - Trade payabl
Slide 22: Cash Flow Statement
REALISING GROWTH BYS DELIVERING CASH FLOW STATEMENT
Slide 23: FY Cash Flow Statement
FY CASH FLOW STATEMENT FY 2024 FY 2023 Operating cash flows before working capital changes* 113.8 111.1 Changes in operating assets and liabilities (255.3) 203.7 Net interest and income tax payment (41.7) (53.2) Net cash flows (used in)/from operating activities (183.2) 261.6 Net cash flows used in
Slide 24: Thank you
Thank you Any questions, contact: Rajesh Shroff, Chief Financial Officer Ph: (65) 6829 5255| mail: ir@mewahgroup.com