JB Foods Ltd. · SGX:BEW
JB Foods — Shareholder Meeting (April 2022)
26 slides from JB Foods's shareholder meeting presentation, Apr 28, 2022
Slide 1: 10th Annual General Meeting
JB Foods Limited 10th ANNUAL GENERAL MEETING 28 April 2022
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from the statements. Such risks and uncertainties include industry and economic conditions, competition, and legal, governmental and
Slide 3: Outline
Outline ► Cocoa Bean Grinding and Production Statistics Pg. 5 ► Introduction of JB Foods ► Milestones Pg. 7-8 ► Group Structure Pg. 9 ► Our Products Pg. 10 ► Our Global Presence Pg. 11 ► Business Performance Review ► Financials Pg. 12 to 19 ► JB Foods Strength, Expansion & Strategy ► Competitive str
Slide 4: Cocoa Bean Grinding & Production Statistics
Cocoa Bean Grinding & Production Statistics 4
Slide 5: Cocoa Bean Grinding & Production
Cocoa Bean Grinding & Production 5500 5000 4500 4000 3500 3000 2500 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Cocoa production ('000 MT) 3,179 3,551 3,381 3,811 3,439 3,732 3,593 3,634 4
Slide 6: Introduction to JB Foods
Introduction to JB Foods JBECor Bt JBCOCOA
Slide 7: Key Milestones
Key Milestones 2000 to 2010 2011 to 2017 2018 to 2021 2022 and beyond • Laying foundations; • Scale operations • Establish global presence • Building capacity penetrating the market as a • Expand capabilities • Begins sustainability efforts, and • Enhancing new player with a new brand • Grow global
Slide 8: Key Milestones
Key Milestones 2000 to 2010 2011 to 2017 2018 to 2021 2022 and beyond • Laying foundations; • Scale operations • Establish global presence • Building capacity penetrating the market as a • Expand capabilities • Begins sustainability efforts, and • Enhancing new player with a new brand • Grow global
Slide 9: Group Structure
Group Structure JB Foods Limited JB Foods Global JBC Europe OU JB Cocoa AG JB Cocoa Sdn Bhd JB Sourcing CI Pte. Ltd. (Switzerland) (Malaysia) (Estonia) (Côte D’Ivoire) (Singapore) JB Cocoa Holding JB Cocoa Foods Inc. (China) Co Ltd (USA) (China) JB Cocoa Trading (M) Sdn Bhd JB Cocoa EBNJ LLC PT Jebe
Slide 10: Raw Materials & Our Products
Raw Materials & Our Products Cocoa Beans More than 90% of our revenue is derived from Cocoa Powder & Cocoa Butter Cocoa Mass Cocoa Butter Cocoa Powder 10
Slide 11: Our Global Presence
Our Global Presence Manufacturing & Warehouse Facilities Regional Sales Offices & Sourcing Centre Worldwide Headcount: 680 ►Asia: 3 ►Europe: 1 ►Asia: 3 ►Europe: 1 ►America: 1 ►Africa: 1 ►Asia: 650 ►America, Europe & Africa: 30 11
Slide 12: Business Performance Review
Business Performance Review 12
Slide 13: Financial Highlights ― At A Glance
Financial Highlights ― At A Glance (In US$'000) FY2021 FY2020 Y-on-Y Change Revenue 448,763 417,754 7.4% EBITDA 29,650 34,256 -13.4% PAT 13,850 19,406 -28.6% FY2021 FY2020 Y-on-Y Change ROE (%) 8.6% 13.0% -34.3% Dividend payout 24.2% 22.6% 7.1% EPS (US cents) 4.6 6.4 -28.1% NAV per share (US cents)
Slide 14: Sales by Region/Country
Sales by Region/Country ► USA, China and Russia, remains our top 3 2021 2020 2019 revenue contribution in Revenue USD'000 USD'000 USD'000 the last 3 years. North America 81,224 18% 94,287 23% 94,277 27% USA 62,351 14% 73,757 18% 83,479 24% Others 18,873 4% 20,530 5% 10,798 3% ► Due to surge in ocean
Slide 15: JB Foods Performance
JB Foods Performance Revenue (USD'm) PBT (USD'm) 448.8 34.1 417.8 31.7 352.5 327.1 22.5 300.1 295.6 18.4 16.9 226.5 4.4 2.4 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018 2019 2020 2021 2020 Revenue & Profitability - CAGR ► 7-year CAGR at 10.3% in Revenue ► 7-year CAGR at 33.8% in Profitabil
Slide 16: JB Foods Banking Trade Facilities
JB Foods Banking Trade Facilities 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil Banking Facilities 64.7 78.0 109.5 113.4 115.0 130.0 150.0 199.8 223.0 235.9 264.1 Utilisation 44.4 53.6 87.4 102.6 85.2 10
Slide 17: Profit and Loss Analysis
Profit and Loss Analysis Explanatory (In US$'000) FY2021 FY2020 Y-on-Y Change Notes Revenue 448,763 417,754 31,009 7% N1 i) Higher shipment volume due to strong customer demand & ii) higher average selling prices of the cocoa Cost of sales (422,675) (373,921) (48,754) 13% N2 N1 ingredients due to hi
Slide 18: Balance Sheet Analysis
Balance Sheet Analysis 2021 2020 2021 2020 Extract of Balance sheet USD'000 USD'000 Variance Extract of Balance sheet USD'000 USD'000 Variance - #DIV/0! Non-current assets 109,844 114,157 (4,313) -4% Current liabilities (259,107) (204,333) (54,774) 27% PPE 94,117 96,447 (2,330) -2% Trade payables (2
Slide 19: Cash Flow Analysis
Cash Flow Analysis 2021 2020 USD'000 USD'000 Changes Explanatory Operating cash flows before Higher outflow in changes in working capital working capital changes 15,211 39,375 (24,164) mainly due to increased in the inventories due Changes in working capital (39,017) (166) (38,851) to global supply
Slide 20: Competitive Strengths & Strategies
JB Cocoa Competitive Strengths & Strategies 20
Slide 21: JB Cocoa Competitive Strengths
JB Cocoa Competitive Strengths Loyal and supportive ► F&B multinational corporations, such as Mars, Nestle, Mondelez and Hersheys Grou, which are our long international customer base standing customers ► Efficient and nimble decision making ► Attuned and adaptive to industry trends and market Strong
Slide 22: Our Growth Strategy
Our Growth Strategy 22
Slide 23: Our Growth Strategy
Our Growth Strategy Sustainable Growth ► Strengthen our Sustainable bean sourcing team and activities in Procurement country of origin ► Focus on cost efficiency and optimise plant utilisation Operations & ► Energy conservation, waste optimisation and carbon footprint Environmental reduction ► Cauti
Slide 24: Key Takeaways
Key Takeaways JBicor J woken vend
Slide 25: Key Takeaways
Key Takeaways ► Cocoa terminal prices remains volatile (weather, crops yield, supply & demand from grinding and consumptions) ► Headwinds and uncertainty in the cocoa supply & demand due to Covid-19 and effect of Russia-Ukraine conflict ► Balanced business growth strategy ► Expanding and widening ou
Slide 26: Annual General Meeting Shareholders Presentation
JB Foods Limited ANNUAL GENERAL MEETING Shareholders Presentation 28 April 2022 26