PT Malindo Feedmill Tbk · IDX:MAIN
PT Malindo Feedmill Tbk — Q3 2019 Earnings Presentation
20 slides from PT Malindo Feedmill Tbk's earnings presentation, Nov 7, 2019
Slide 1: PT Malindo Feedmill Tbk 3Q 2019 Result Presentation
PT MALINDO FEEDMILL TBK 3Q 2019 RESULT PRESENTATION 1
Slide 2: Company Overview, Investment Highlights, 3Q/2019 Highlights
COMPANY OVERVIEW INVESTMENT HIGHLIGHTS 3Q/2019 HIGHLIGHTS 1 Nov 7th, 2019
Slide 3: Company Overview: Vertically integrated business
COMPANY OVERVIEW Vertically integrated business UPSTREAM MIDSTREAM DOWNSTREAM COMMERCIAL FOOD FEED BREEDING FARMING PROCESSING 2 Nov 7th, 2019
Slide 4: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS Attractive, fast growing industry Top 3 integrated player Secured growth plan Upside from Processed food (CBP) segment Highly experienced management with strong governance Productive age employees 3 Nov 7th, 2019
Slide 5: Investment highlight #1: Attractive, fast growing industry
Investment highlight #1: Attractive, fast growing industry Indonesia’s middle class is growing, adding 80million people in the Chicken consumption in Indonesia keeps growing and forecasted middle class by 2020 to be even stronger in 2023 ('000 people) (‘000 tons) 264,000 265,000 271,000 2,382 242,50
Slide 6: Investment highlight #2: Top integrated player, well-positioned in the market
Investment highlight #2: Top 3 integrated player and well-positioned in the market supported by strategic locations Indonesia feed production capacity share (2018) Indonesia DOC production capacity share (2018) CPIN 20% JPFA 25% CPIN 35% 38% JPFA MAIN 8% NEW HOPE MAIN 5% 4% CJ NEW HOPE 7% 8% Others
Slide 7: Investment highlight #3: Growth plan with sufficient cashflow to fund capex
Investment highlight #3: Growth plan with sufficient cashflow to fund capex Projected Capex of IDR 455 bn in 2019 will enable Malindo to capture the increasing demand Feed capacity (MT) Broiler capacity (MT) DOC capacity (Mn birds) CAGR 23,3% CAGR 2,3% 23 64 262 79 116 57 244 167 77 • Maximize the p
Slide 8: Investment highlight #4: Upside from Processed food (CBP) segment
Investment highlight #4: Upside from Processed food (CBP) segment Consumer Foods capacity (MT) 2 5 0 Capex (IDR bn) 7 Nov 7th, 2019
Slide 9: Reputation as high quality producer with diverse customer base
Investment highlight #4: Upside from Processed food (CBP) segment Reputation as high quality producer, solid track record with diverse customer base CUSTOMER AND OUTLET GROWTH DISTRIBUTION MAP 8 Nov 7th, 2019
Slide 10: Investment highlight #5: Experienced management with strong governance
Investment highlight #5: Highly experienced management with strong governance Lau Chia Nguang Tan Lai Kai Yongkie Handaya Brian M. O ’Connor Koh Bock Swi President Commissioner Commissioner* Independent Commissioner* Independent Commissioner* (Raymond Koh) Independent Commissioner* Year of Poultry Y
Slide 11: Investment highlight #5: Experienced management with strong governance
Investment highlight #5: Highly experienced management with strong governance Tan Sri Lau Tuang Nguang President Director Lau Joo Hwa Lau Joo Keat Rudy Hartono Husin Rewin Hanrahan Aldrin Rungkat Hilda Wibowo Operation Director Breeder Farming Director Finance Director* Marketing Director* Feedmill
Slide 12: Investment highlight #6: Productive age employees
Investment highlight #6: Productive age employees Company's employee category by age 23% 40% 37% 20 - 29 years 30 - 39 years > 40 years 11 Nov 7th, 2019
Slide 13: 3Q/2019 Highlights
3Q/2019 HIGHLIGHTS DOC & Broiler Average Selling Price Consumer demand projected to improve with Government initiatives ensuring stable DOC strong support by macro conditions & chicken prices and supply-demand GDP growth: 2020 5.3 – 5.6% (2019 c. 5.3%) dynamics Q3/2019 Feed margins to benefit from v
Slide 14: Financial Performance
FINANCIAL PERFORMANCE REVENUE NET PROFIT 3Q (Y-Y) -26.7% 9M (Y-Y) -13.4% 3Q (Y-Y) 1.8% 9M (Y-Y) 17.7% 5,669,502,891 4,838,505,762 225,595,279 195,396,711 1,765,873,460 1,797,342,247 67,495,896 49,460,570 Q3/2018 Q3/2019 9M18 9M19 Q3/2018 Q3/2019 9M18 9M19 EBITDA EBIT MARGIN 9M (Y-Y) -3% 3Q (Y-Y) -19
Slide 15: Financial Performance
FINANCIAL PERFORMANCE TOTAL ASSETS NET DEBT/ EQUITY 0.94 3Q (Y-Y) 10% 4,765,416,226 0.82 3Q (Y-Y) 15% 4,349,412,672 Q3/2018 Q3/2019 Q3/2018 Q3/2019 CAPEX TOTAL INTEREST BEARING DEBT 3Q (Y-Y) 56% 9M (Y-Y) 12% 3Q (Y-Y) 11% 2,012,919,339 267,234,810 238,683,114 1,820,187,614 122,433,107 78,273,675 Q3/2
Slide 16: Segment Performance: Feedmill
SEGMENT PERFORMANCE FEEDMILL SALES SALES 10 % 26 % 3Q (Y-Y) 9M (Y-Y) 4,000 18.0% 3,561 3,500 15.8% 16.0% 14.0% 3,000 2,819 12.0% 2,500 11.6% 10.0% 2,000 8.0% 1,500 1,139 5.8% 6.0% 1,033 1,000 4.0% 500 2.5% 414 2.0% 180 163 26.2 - 0.0% Q3/2018 Q3/2019 9M18 9M19 15 Nov 7th, 2019
Slide 17: Segment Performance: Breeder
SEGMENT PERFORMANCE BREEDER SALES -24% SALES 7% 3Q (Y-Y) 9M (Y-Y) 1,200 35.0% 1,091 29.3% 1,016 30.0% 1,000 25.0% 800 20.0% 20.0% 15.0% 600 10.0% 408 5.0% 400 4.5% 311 0.0% 203.1 200 119.6 -5.0% 49.2 -14.8% -10.0% - Q3/2018 Q3/2019 9M18 9M19 -15.0% (200) (46.0) -20.0% 16 Nov 7th, 2019
Slide 18: Segment Performance: Broiler and Food
SEGMENT PERFORMANCE BROILER SALES SALES FOOD SALES SALES 3% 0.0005 % 41 % 14 % 3Q (Y-Y) 9M (Y-Y) 3Q (Y-Y) 9M (Y-Y) 1,000 8.0% 140 0.0% 905 905 6.1% 6.0% 120 113 -5.0% 800 99 100 4.0% -10.0% 600 80 2.0% -15.0% 60 0.4% 41 400 0.0% 40 -20.0% 296 306 29 -2.0% 20 -25.2% -25.1% -25.0% 200 - 55.3 -4.0% Q3/
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Slide 20: Thank You
THANK YOU www.malindofeedmill.com Sunny Gold @sunnygoldid @sunnygoldid