Slide 1: Q1 CY2023 Unaudited Results Investor Briefing
Q1 CY2023 Unaudited Results Investor Briefing May 5, 2023 Irwin C. Lee Pancho del Mundo Jose Miguel T. Manalang President and CEO Chief Investments, Strategy, and Strategy & Investor Relations Director Corp 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: Executive Summary
Executive Summary • Q1 2023 Net Sales reached Php39.8 billion, growing 11% vs. SPLY with all divisions exhibiting strong growth • Q1Lorem ipsum 2023 Operating Income hit Php4.7 billion, up 15% vs. SPLY on full year impact of last year’s pricing moves as well as optimization on operating expenses. Op
Slide 4: Total URC
Total URC SALES EBIT NET INCOME In billion pesos In billion pesos In billion pesos 39.8 35.8 4.7 3.6 3.6 4.1 11% 15% 0% Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 • Total business up +11% with almost • Profits up +15% vs. last year, growing • Flat on comparables due to all business units growin
Slide 5: Commodity prices easing though some key materials remain elevated versus 2022
Commodity prices easing though some key materials remain elevated versus 2022 Wheat (USD/MT) Wheat Jan22 Feb22 Mar22 Apr22 May22 Jun22 Jul22 Aug22 Sep22 Oct22 Nov22 Dec22 Jan23 Feb23 Mar23 -8% vs Q1 2022 -27% vs 2022 peak Palm Oil (USD/MT) Palm Oil Jan22 Feb22 Mar22 Apr22 May22 Jun22 Jul22 Aug22 Sep
Slide 6: Impact of inflation on consumer demand varies as some markets remain resilient
Impact of inflation on consumer demand varies as some markets remain resilient while others experiencing slowdowns Quarterly Inflation Trend (2020 – 2022) Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Philippines Malaysia Vietnam Thailand Indonesia 2022 2022 2022 2022 2023 Q1 Q2 Q3 Q4 Q1 PH 3.3 5.5 6.5 7.
Slide 7: BCF Philippines
BCF PHILIPPINES Strong February and March sales offsetting expected shortfall in January 18.1 17.1 • Strong recovery from the planned supply tightness in January coming from the SAP ERP transition SALES 6% In billion pesos • Continued improvements on fill rates and volumes, with record high sales in
Slide 8: BCF International
BCF INTERNATIONAL Strong topline start coupled with margin expansion 8.9 7.8 Lorem ipsum • Growth across most markets led by Vietnam, Malaysia and Myanmar SALES 13% • Indonesia navigating price-point transition and In billion pesos changes in consumption behavior Q1 2022 Q1 2023 1.0 0.7 • Expansion
Slide 9: AIC
AIC Strong growth driven by higher pricing 12.4 20% 10.3 7.1 +22% • SURE maintains revenue growth on higher 5.8 selling prices despite tighter crop availability • AIG growth from improved demand for Feeds SALES and higher production from Farms In billion pesos 3.9 +26% 3.1 • Flour topline steady on
Slide 10: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Cash and Financial Debt Gearing Ratio In billion pesos 0.17 0.18 17.0 17.3 20.8 15.1 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Cash + Financial Assets at FVPL + AFS Financial Debt Cash Position In billion pesos 6.3 1.7 • Balance sheet continues to be 3.7 healthy with gearing ratio
Slide 11: Full integration of Munchy's almost complete, with synergies of combined business in effect
Full integration of Munchy’s almost complete, with synergies of combined business in effect One route-to-market for the combined Malaysia business improving distribution Biscuits Manufacturer #1 in Malaysia Leveraged on scale of combined business to optimize supply chain logistics efficiencies 30+%
Slide 12: Executive Summary
Executive Summary • Q1 2023 Net Sales reached Php39.8 billion, growing 11% vs. SPLY with all divisions exhibiting strong growth • Q1Lorem ipsum 2023 Operating Income hit Php4.7 billion, up 15% vs. SPLY on full year impact of last year’s pricing moves as well as optimization on operating expenses. Op
Slide 13: Thank you!
Thank you!
Slide 14: Income Statement
Income Statement Q1 2023 Q1 2022 (Php Millions) YoY (Unaudited) (Unaudited) NET SALES 39,807 35,783 11% Lorem ipsum Cost of Sales 29,110 26,004 12% GROSS PROFIT 10,697 9,779 9% Operating Expense -6,039 -5,712 6% OPERATING INCOME 4,658 4,067 15% Equity in net income of JVs -24 2 Finance cost – net -3
Slide 15: Balance Sheet
Balance Sheet Q1 2023 Q1 2022 (Php Millions) (Unaudited) (Unaudited) Cash & cash equivalents 15,061 16,959 Lorem ipsum (including Financial assets at FVPL and FVOCI) Other current assets 77,410 53,928 Property, plant, and equipment 59,719 56,986 Other noncurrent assets 29,544 29,155 TOTAL ASSETS 181
Slide 16: Divisional Financials
Divisional Financials SALES EBIT EBIT MARGIN (Php Millions) Q1 Q1 Q1 Q1 Q1 Q1 YoY YoY bps 2023 2022 2023 2022 2023 2022 Branded Consumer Foods 27,390 25,449 8% 3,195 3,014 6% 11.7% 11.8% (18) Philippines 18,536 17,611 5% 2,213 2,298 -4% 11.9% 13.0% (111) International 8,854 7,839 13% 982 716 37% 11.
Slide 17: Market Shares
Market Shares Philippines Thailand MARKET MARKET CATEGORY #1 #2 #3 CATEGORY #1 #2 #3 SHARE SHARE Snacks 35.6% URC 24.1% 5.8% Biscuits (new) 16.7% URC 13.7% 8.0% Candies Lorem ipsum 25.6% URC 13.8% 13.3% Wafers 20.1% 20.9% URC 8.5% Chocolates and 22.8% URC 13.8% 8.0% Coated Wafers Vietn