Dutch Lady Milk Industries Bhd. · MYX:DLADY
Dutch Lady Milk Industries Bhd — Investor Presentation (September 2026)
30 slides from Dutch Lady Milk Industries Bhd's investor presentation, September 2026
Slide 1: Nourishing our Nation
Nourishing our Nation Meeting with EPF September 2026
Slide 2: H1 2026 at a Glance – Accelerating growth and innovation
H1 2026 at a Glance – Accelerating growth and innovation Revenue increased by Strong Growth Supporting child 4.7% to RM 784 million Core range Dutch Lady nutrition RTD and Professional nationwide through Operating profit increased On track with Enstek business case expectations School Milk 37.3% to
Slide 3: Agenda
AGENDA SECTION 1: FINANCIAL PERFORMANCE SECTION 2: STRATEGIC AND GROWTH THESIS SECTION 3: OPERATIONAL AND COMMERCIAL ACCELERATION SECTION 4: SUSTAINABILITY SECTION 5: 2026 OUTLOOK & DLMI GROWTH DRIVER & SECTION 6: Q & A
Slide 4: Financial Performance
FINANCIAL PERFORMANCE 4 Draft | Internal use only | Confidential
Slide 5: Four key product segments contributing to robust RM1.5bn revenue in 2025
Four key product segments contributing to robust RM1.5bn revenue in 2025 Friso Gold Premium IFT Professional (FC-P) 11% 8% 31% NSV: NSV NSV: 2025: 118mln RM1.5Bn 2025: 170 mln Dutch Lady Consumer Dutch Lady Dairy (DL Liquid Milk) IFT 50% IFT CD FCP Friso NSV: NSV: 2025: 750mln 2025: 462 mln
Slide 6: Revenue reaches Record RM1.5bn with Profitability Improving Post-Enstek Transition
Revenue reaches Record RM1.5bn with Profitability Improving Post-Enstek Transition 1,600 1,500.4 1,442.8 1,445.1 • Revenue reached RM1.50bn Milestone in 1,400 1,339.4 FY2025 for the first time, representing steady growth from RM1.07bn in 2019. 1,200 1,133.7 1,100.6 1,066.7 • Profitability was tempor
Slide 7: Key Q2 2026 financials versus Q2 2025
Key Q2 2026 financials versus Q2 2025: Revenue grew by 2.9% in Q2’26, driven by strong volume growth. Operating Profit increasing with higher revenue, absence of one-off BB costs, transactional FX upside and slightly lower A&P investments. Operating Profit YTD Operating Net Profit Net Sales Cash Flo
Slide 8: H1 2026 Financial Performance
H12026 Financial Performance Revenue growth on the back of strong volume performance. Margin expansion translated into significant operating profit growth, reinforcing the strength of our core business and new launches. Revenue Gross Profit Operating Profit Net Profit +4.7% YoY | RM784.4m +1.4% YoY
Slide 9: Strong Cash Generation, Minimized CAPEX & Improved Inventory turnover
Strong Cash Generation, Minimized CAPEX & Improved Inventory turnover Operating Cash Flow Capital Expense Cash Balance Inventory +58% YoY | RM58.9m -79% YoY | RM8.6m +22% YoY | RM59m -6% YoY | RM201m 228.0 58.9 53.2 59.5 59.0 213.5 41.5 201.4 48.3 40.6 37.3 8.6 H12024 H12025 H12026 H12024 H12025 H12
Slide 10: Strategic and Growth Thesis
STRATEGIC AND GROWTH THESIS 12 Draft | Internal use only | Confidential
Slide 11: Nutrition insights drive product innovation and purpose.
Nutrition insights drive product innovation and purpose. Consumer nutrition insights enable DLMI to design products that address Malaysia's key nutritional challenges. SEANUTS Enhancing essential micronutrients Southeast Asian Nutrition Surveys, to support healthy growth. routine dairy nutritional d
Slide 12: Growing national focus on child nutrition strengthens dairy relevance.
Growing national focus on child nutrition strengthens dairy relevance. NEWS · MALAYSIA RISING CHILD NUTRITION CHALLENGE Child stunting increased to 21.2% in 2022, up Provide milk subsidies to fight child from 17.7% in 2015. Malaysia is reportedly the only ASEAN country with rising stunting stunting,
Slide 13: Malaysia's dairy consumption gap creates a long-term growth opportunity.
Malaysia's dairy consumption gap creates a long-term growth opportunity. DLMI OPPORTUNITIES ADOLESCENTS AGE 10-19/ ADULTS AGE 18+ Nutritious & Affordable Start of the Day 2.9% / 0.7% • Breakfast remains the largest dairy consumption occasion in Malaysia. • 89% of Malaysians eat breakfast, but only ~
Slide 14: Operational and Commercial Acceleration
OPERATIONAL AND COMMERCIAL ACCELERATION 18 Draft | Internal use only | Confidential
Slide 15: DLMI@Enstek: Integrated Plant Enabling Scale, Efficiency and Future Growth
DLMI@Enstek: Integrated Plant Enabling Scale, Efficiency and Future Growth DLMI@Enstek Integrated Manufacturing & Distribution Hub • DLMI@Enstek integrated manufacturing and distribution hub now fully operational • Designed with ~2× production capacity potential compared with the previous Petaling J
Slide 16: Brand Leadership Driven by Innovation and Strong Commercial Execution
Brand Leadership Driven by Innovation and Strong Commercial Execution #1 Liquid Milk Brand in Malaysia +14.4% +11.4% 42.3% value share Value Growth Volume Growth Nielsen YTD July 2026 44.5% volume share Nielsen YTD July 2026 Nielsen YTD July 2026 Innovation and Portfolio Expansion in 2026 Enhanced C
Slide 17: Win in Festive: Q1 2026 Ramadan Activation
Win in Festive: Win Q1 2026 Ramadan Activation In Festive Culturally relevant Big Idea: Geng Sahur Macam Berbuka CATCH CONNECT CONVERT Sahur powered by Nutritious DL Community Focus Bang on Top Creator Live Stream Sahur = pre-dawn meal before fasting >5,000 Malaysians engaged. 4 Mosques with Alif Sa
Slide 18: Win in Nutrition Credential: Packaging & Brand Relaunch
Win in Nutrition Win Credential: In Nutrition Packaging & Brand Relaunch Credential Evolving from product-led communication to putting families at the heart of our brand BEYOND ORDINARY FUNCTIONAL MESSAGING To the role Dutch Lady plays in people’s lives Drive benefit-led, enabled by nutrition BRING
Slide 19: Show Film
SHOW FILM
Slide 20: Win in Nutrition Led Innovation Supporting Kids growth
Win in Nutrition Led Innovation Supporting Kids growth RTD MILK FOR THE BRAIN
Slide 21: New Omega Benefit Led Communication Partnering with Trusted Caregiver Voices
NEW OMEGA BENEFIT LED COMMUNICATION PARTNERING WITH TRUSTED CAREGIVER VOICES FEATURING LOCAL CELEB TEACHER @MS QIWIIE 26
Slide 22: Win in Nutrition Led Innovation | Gen-Z
Win in Nutrition Led Innovation | Gen-Z
Slide 23: CONFIDENTIAL | STRICTLY INTERNAL ALT
29 CONFIDENTIAL | STRICTLY INTERNAL ALT
Slide 24: Science-Backed IFT Innovation Supporting Malaysia’s Childhood Growth
Science-Backed IFT Innovation Supporting Malaysia’s Childhood Growth Deep dive: Key Findings Strategic framework redefined: MaxGro 2.0 • Modern parents increasingly prioritise holistic • Shift from conventional children’s milk to science- child development and wellness based growth nutrition • Aware
Slide 25: FrieslandCampina Professional: Accelerating Out-of-Home Growth
FrieslandCampina Professional: Accelerating Out-of-Home Growth STRONG 2025 OPPORTUNITIES STRATEGY • Menu co-creation with partners +7% Rapid café & bakery Growing coffee & tea • Tailored dairy solutions — cost & convenience Volume growth expansion culture • Training & barista upskilling • Leveraging
Slide 26: Sustainability
SUSTAINABILITY 32 Draft | Internal use only | Confidential
Slide 27: Sustainability Performance – H1 2026
Sustainability Performance – H1 2026 Nutrition People Planet FC Nutritional Healthier Choice Logo Health and Safety Diversity – Management GHG emissions Energy consumption Standards (FCNS) Products (HCL) & Board intensity intensity Board: 96.4% 87.0% 0 6F:2M 0.132 1.07 2025: 96.3% 2025: 85.7% 2025:
Slide 28: 2026 Outlook & Growth Driver
2026 Outlook & Growth Driver 34 Draft | Internal use only | Confidential
Slide 29: Outlook 2026: Acceleration with Discipline
Outlook 2026: Acceleration with Discipline DLMI expects continued revenue growth supported by innovation and channel expansion, while operational discipline and Enstek efficiencies support margin resilience. Driver Watchpoints Management Actions • Malaysia’s economy expected • Commodity price volati
Slide 30: Five structural advantages reinforcing leadership and sustainable growth.
Five structural advantages reinforcing leadership and sustainable growth. 01 02 03 04 05 Market Nutrition Expert Innovation & Scale & Efficiency Distribution Leadership & Thought Leading Portfolio Enstek Stronghold & Brand Trust Insight Competitiveness • #1 market share in RTD and Infant • Portfolio
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