Slide 1: Q1 CY2024 Unaudited Results Investor Briefing
Q1 CY2024 Unaudited Results Investor Briefing May 3, 2024 Irwin C. Lee Pancho M. Del Mundo Jose Miguel T. Manalang President and CEO Chief Investments, Strategy, and Corporate Strategy and Investor Relations Director Services Officer
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: Consistency on Strategy: Where to Play
Consistency on Strategy: Where to Play Growth Objective: High Single Digit Topline Growth, Double Digit Profit Growth Grow the CORE in Beverage and Consumer Foods Agro-Industrial and Commodities Expand for MORE in adjacent segments and geographies + New Bakery and Beverage + New International Legs +
Slide 4: Consistency on Strategies: How-To-Win
Consistency on Strategies: How-To-Win People and Planet Friendly Culture • People Engagement • Agile, Digital, Leadership Transformation Products and Brands People Love • Sustainability 6 Focus Areas • NPD Contribution • Core Brand Health • Market Leadership Position Product Supply Chain Transformat
Slide 5: Executing Strategies to deliver long term growth and value
Executing Strategies to deliver long term growth and value Continuing Operations CAGR (in Php B) 2018 2019 2020 2021 2022 2023 5Yr / 2Yr SALES 106.9 114.4 113.2 117.0 149.9 158.4 8% / 16% EBIT 10.8 12.7 13.9 12.7 15.2 17.4 10% / 17% Operating Margin 10.1% 11.1% 12.3% 10.9% 10.2% 11.0% Covid Disrupti
Slide 6: Current Growth Focus Areas
Current Growth Focus Areas ✓ Mid to High Single Digit Topline Growth CORE MORE BCF PH • Volume Driven Market Share • Emerging Bakery and Recovery (with Coffee and Noodles fixes) Beverage segments • Customer Service and Supply Network Upgrade URCI • Sustain Top 3 Markets Growth • Munchy’s Expansion i
Slide 7: Executive Summary
Executive Summary • Q1 2024 Revenues Php42.6B up +7% vs. SPLY, with 90%+ customer service fill rates continuing into 2024. • URC volume driven growth across all divisions, with balanced portfolio growth across premium vs. value tiers and core vs. emerging segments. • Market category volumes softenin
Slide 8: Total URC
Total URC SALES EBIT NET INCOME In billion pesos In billion pesos In billion pesos 4.4 21% 3.6 42.6 7% 39.8 16% 5.4 4.7 3.6 3.9 8% 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 Core NI • First quarter revenues up 7%, • Operating income up 16%, more • Net income up 21% from strong driven by higher
Slide 9: BCF Philippines
BCF PHILIPPINES Volume driven topline growth with strong margin expansion • Sales momentum continued into the 1st quarter, with volume growth across majority of categories as planned • Double digit growth from Snacks, Bakery, and RTD 19.1 6% Beverages, with balanced contribution from value and SALES
Slide 10: Core + More growth across multiple segments
Core + More growth across multiple segments CORE MORE Snacks Baked Cakes +67% Potato-Based +8% Non-Potato +17% Non-Tea RTD Beverages +22% Biscuits Cookies Sandwiches +15% Crackers +21%
Slide 11: BCF International
BCF INTERNATIONAL Volume momentum and margin expansion offset FX devaluations • International Sales up +4% vs. SPLY on constant currency (flat on Peso/FX translation) driven by continued share Lorem ipsum 8.9 4% driven growth in Vietnam, Myanmar and Malaysia SALES 8.5 In billion pesos • Thailand and
Slide 12: Market shares recovering in most core categories, and expanding in new segment entries
Market shares recovering in most core categories, and expanding in new segment entries URC Market Share URC Market Share CATEGORY MAT MAT YTD YTD CATEGORY MAT MAT YTD YTD Mar23 Mar24 Mar23 Mar24 Mar23 Mar24 Mar23 Mar24 PHILIPPINES THAILAND Snacks 35.8% 35.2% 33.5% 34.7% Biscuits 16.1% 14.3% 14.9% 14
Slide 13: Agro-Industrial and Commodities
AGRO-INDUSTRIAL AND COMMODITIES Volume driven double digit topline and bottomline growth • AIG strong pet food and poultry feeds growth offset lower hog feed volumes • Double-digit growth from SURE on higher volumes SALES 14.3 15% • Flour double digit volumes offsets lower prices In billion pesos 12
Slide 14: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Cash and Financial Debt Gearing Ratio In billion pesos 0.23 0.22 26.7 26.4 13.3 17.3 CY2023 2024 Q1 CY 2023 2024 Q1 Cash + Financial Assets at FVPL + AFS Financial Debt Cash Position In billion pesos • Strong Profit/EBITDA driving higher + 7.0 + 0.5 - 2.0 cash balance in
Slide 15: Executive Summary
Executive Summary • Q1 2024 Revenues Php42.6B up +7% vs. SPLY, with 90%+ customer service fill rates continuing into 2024. • URC volume driven growth across all divisions, with balanced portfolio growth across premium vs. value tiers and core vs. emerging segments. • Q1 2024 Operating Income Php5.4B
Slide 16: Thank you!
yy Thank you!
Slide 17: Income Statement
Income Statement 2024 Q1 2023 Q1 (Php Millions) YoY (Unaudited) (Audited) NET SALES Lorem ipsum 42,581 39,807 7% Cost of Sales 30,115 29,110 3% GROSS PROFIT 12,466 10,697 17% Operating Expense -7,060 -6,039 17% OPERATING INCOME 5,406 4,658 16% Equity in net income of JVs -32 -24 Finance cost – net -
Slide 18: Balance Sheet
Balance Sheet 2024 Q1 CY 2023 (Php Millions) (Unaudited) (Audited) Cash & cash equivalents 17,258 13,311 (including Financial assets at FVPL and FVOCI) Other current assets 77,388 76,316 Property, plant, and equipment 62,782 62,410 Other noncurrent assets 27,949 28,264 TOTAL ASSETS 185,377 180,302 C
Slide 19: Divisional Financials
Divisional Financials SALES EBIT EBIT MARGIN (Php Millions) 2024 Q1 2023 Q1 YoY 2024 Q1 2023 Q1 YoY 2024 Q1 2023 Q1 bps Branded Consumer Foods 28,317 27,390 3% 3,652 3,195 14% 12.9% 11.7% 123 Philippines 19,126 18,093 6% 2,526 2,245 13% 13.2% 12.4% 80 International 8,894 8,854 0% 1,137 982 16% 12.8%
Slide 20: Market Shares
Market Shares Philippines Thailand MARKET MARKET CATEGORY #1 #2 #3 CATEGORY #1 #2 #3 SHARE SHARE Snacks 35.2% URC 24.9% 6.2% Lorem ipsum Biscuits 14.3% URC 13.1% 7.5% Candies 24.9% URC 15.0% 13.8% Wafers 19.3% 25.2% URC 8.2% Chocolates and 22.2% URC 14.2% 7.4% Coated Wafers Vietnam Biscuits 15.0% 28