Slide 1: 9M CY2024 Unaudited Results Investor Briefing
9M CY2024 Unaudited Results Investor Briefing Nov 12, 2024 Irwin C. Lee Pancho M. Del Mundo Jose Miguel T. Manalang President and CEO Chief Investments, Strategy and Strategy & Investor Relations Corporate Services Officer Director
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Universal Robina Corporation (URC) and plans and objectives of the management of URC. Such forward looking statements involve known and unknown risk
Slide 3: Executive Summary
EXECUTIVE SUMMARY • 9M 2024 Revenues reached Php118.9B, up +1% vs. SPLY, with volume growth of +5%, offset by -3% negative price/mix and -1% forex impact. • International and Ready-To-Drink Beverages led topline growth, offsetting challenges in Philippines Coffee, Confectionery, and Hog Feeds. • 9M
Slide 4: Pricing Context
Dec19 Dec19 Dec19 Dec19 Jan20 Jan20 Jan20 Jan20 Feb Feb Feb Feb Mar Mar Mar Mar Sugar Apr Apr Apr Apr Wheat Palm Oil May May May May Jun Jun Jun Jun Jul Jul Jul Jul Aug Aug Aug Aug Sep Sep Sep Sep Robusta Coffee Oct Oct Oct Oct Nov Nov Nov Nov Dec Dec Dec Dec Jan21 Jan21 Jan21 Jan21 Feb Feb Feb Feb
Slide 5: Total URC (Continuing Operations)
TOTAL URC (CONTINUING OPERATIONS) SALES EBIT NET INCOME In billion pesos In billion pesos In billion pesos 10.3 9.2 -11% 118.9 1% 117.2 12.6 12.3 -3% 9.4 8.9 -5% 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M Core NI • Total revenue up 1% for nine • Operating income declined 3% vs. • Net income dow
Slide 6: BCF Philippines
BCF PHILIPPINES Growth in RTD Beverages, Bakery, and other value-for-money offerings, offsetting challenged segments • Volume growth offset by negative price/mix. Segment share growth in Value Snacks, Biscuits, Cakes and Instant Coffee 56.2 55.9 SALES • Higher growth of lower-value products, with st
Slide 7: BCF International
BCF INTERNATIONAL Sustained revenue and profit growth momentum across all markets • Revenue up 9% vs. SPLY on constant currency (+5% on Peso) with all business units growing in volume and value SALES 23.9 26.0 9% • Strong internal performance and market share gains In billion pesos Constant forex de
Slide 8: Agro-Industrial and Commodities
AGRO-INDUSTRIAL AND COMMODITIES Decline in profits driven by Sugar’s normalizing selling prices and high-priced inventories • AIG revenue impacted by challenged hog feeds volumes on disease outbreaks, as well as price rollbacks, offset by volume growth in pet food and poultry feeds 2% SALES 35.6 36.
Slide 9: Balance Sheet and Cash Flow
BALANCE SHEET AND CASH FLOW Cash and Financial Debt Gearing Ratio In billion pesos 0.23 0.19 26.7 23.3 13.3 14.3 CY 2023 2024 9M CY 2023 2024 9M Cash + Financial Assets at FVPL + AFS Financial Debt Cash Position In billion pesos 3.9 5.7 16.7 • Healthy cashflows support investments 8.2 for future gro
Slide 10: Executive Summary
EXECUTIVE SUMMARY • 9M 2024 Revenues reached Php118.9B, up +1% vs. SPLY, with volume growth of +5%, offset by -3% negative price/mix and -1% forex impact. • International and Ready-To-Drink Beverages led topline growth, offsetting challenges in Philippines Coffee, Confectionery, and Hog Feeds. • 9M
Slide 11: Thank You!
Thank You!
Slide 12: Income Statement
Income Statement 2024 9M 2023 9M (Php Millions) YoY (Unaudited) (Audited) NET SALES 118,885 117,160 1% Cost of Sales 86,520 85,765 1% GROSS PROFIT 32,365 31,395 3% Operating Expense -20,084 -18,765 7% OPERATING INCOME 12,281 12,630 -3% Equity in net income of JVs -107 -65 Finance cost – net -994 -92
Slide 13: Income Statement
Income Statement 2024 9M (Unaudited) 2023 9M (Audited) (Php Millions) Ex-China China Total Ex-China China Total NET SALES 118,885 226 119,111 117,160 461 117,621 Cost of Sales 86,520 116 86,636 85,765 262 86,027 GROSS PROFIT 32,365 110 32,475 31,395 199 31,594 Operating Expense -20,084 -154 -20,238
Slide 14: Balance Sheet
Balance Sheet 2024 9M CY 2023 (Php Millions) (Unaudited) (Audited) Cash & cash equivalents 14,288 13,311 (including Financial assets at FVPL and FVOCI) Other current assets 73,055 76,316 Property, plant, and equipment 64,698 62,410 Other noncurrent assets 31,981 28,264 TOTAL ASSETS 184,021 180,302 C
Slide 15: Divisional Financials (Continuing Operations)
Divisional Financials (Continuing Operations) SALES EBIT EBIT MARGIN (Php Millions) 2024 9M 2023 9M YoY 2024 9M 2023 9M YoY 2024 9M 2023 9M bps Branded Consumer Foods 82,684 81,562 1% 10,536 9,013 17% 12.7% 11.1% 169 Philippines 55,893 56,169 0% 7,154 6,681 7% 12.8% 11.9% 90 International 25,950 24,
Slide 16: Market Shares
Market Shares Philippines Thailand MARKET MARKET CATEGORY #1 #2 #3 CATEGORY #1 #2 #3 SHARE SHARE Snacks 34.5% URC 25.0% 6.6% Biscuits 14.5% URC 13.4% 7.7% Candies 24.3% URC 15.7% 13.3% Wafers 19.4% 24.9% URC 7.8% Chocolates and 21.0% URC 14.2% 7.5% Coated Wafers Vietnam Biscuits 14.8% 28.5% 27.4% U