Pt Cisarua Mountain Dairy Tbk · IDX:CMRY
Pt Cisarua Mountain Dairy Tbk — Q1 2024 Earnings Presentation
25 slides from Pt Cisarua Mountain Dairy Tbk's earnings presentation, April 2024
Slide 1: PT Cisarua Mountain Dairy Tbk 1Q 2024 Results Presentation
PT Cisarua Mountain Dairy Tbk 1Q 2024 Results Presentation April 2024
Slide 2: Disclaimer
Disclaimer IMPORTANT: You must read the following before continuing. By attending the meeting where this presentation (this “presentation”), is made, or by reading the presentation materials, you are agreeing to maintain absolute confidentiality regarding the information disclosed in this document a
Slide 3: Our presenters today
Our presenters today Our Presenters Today Farell Sutantio Axel Sutantio Bharat Joshi President Director Director Director Group Chief Executive Officer MP Chief Executive Officer Chief Financial Officer & Investor Relations
Slide 4: Agenda
Agenda 1 Financial Results 5 2 Operational Performance 17 3 Key Takeaways 22 4
Slide 5: Financial Results
1 Financial Results
Slide 6: Net sales
Net sales Total Net Sales (Rp bn) Commentary Premium Dairy Premium Consumer Foods ◼ Continued YoY expansion of Total Net Sales, primarily driven by healthy 7,773 6,378 growth in both Premium Consumer Foods and UHT Milk 4,096 1,831 2,168 FY21A FY22A FY23A 3M23 3M24 Premium Dairy Net Sales (Rp bn) Pre
Slide 7: Gross profit
Gross profit Cost of Sales % Net Sales (Rp bn) Commentary Raw Materials & Packaging Others ◼ Benefited from reduced raw material costs, while also eliminated previous year costly 58.2% 58.4% 60.1% inventory reserves 55.3% 51.8% 8.6% 8.4% 8.7% ◼ Increase in Other Cost of Sales partially 7.7% 11.0% at
Slide 8: Selling & marketing expenses
Selling & marketing expenses Selling & Marketing Expenses (Rp bn) Selling & Marketing Expenses % Net Sales (Rp bn) Advertising, Promotion & Marketing Advertising, Promotion & Marketing Salaries & Allowances Salaries & Allowances Distribution & Administration Distribution & Administration Others Othe
Slide 9: Flavour Extension: Yoghurt Stick Original & Mango Sticky Rice
Flavour Extension: Yoghurt Stick Original & Mango Sticky Rice 9
Slide 10: Flavour Extension: Yoghurt Stick in Modern Trade Channel
Flavour Extension: Yoghurt Stick Original & Mango Sticky Rice in Modern Trade Channel 10
Slide 11: Viral Marketing Campaign: Yoghurt Stick & UHT Milk
Viral Marketing Campaign: Yoghurt Stick & UHT Milk “Susu Banyak Rasa” Chocolate Mint Bingsu Campaign Cimory is the brand with most milk flavours Strong association of Cimory Yoghurt Stick as “Cemilan Anak Artis” >200 Bn Views 11
Slide 12: Cimory Frozen Yoghurt Campaign: Experience Flavorful Healthy Treats
Cimory Frozen Yoghurt Campaign: Experience Flavorful Healthy Treats 12
Slide 13: General & administrative expenses
General & administrative expenses General & Administrative Expenses (Rp bn) General & Administrative Expenses % Net Sales (Rp bn) Salaries & Allowances Salaries & Allowances Others Others 194 134 117 76 2.7% 2.6% 79 2.5% 2.1% 59 1.9% 1.2% 35 1.4% 48 1.5% 26 0.9% 1.2% 77 26 58 44 1.5% 33 1.1% 1.0% 1.
Slide 14: Operating & net profit
Operating & net profit Operating Profit & Margin (Rp bn) 25% 20% 1,800 20% 18% 19% 20% 1,600 1,428 1,400 1,256 0% 1,200 1,007 1,000 -20% 800 -40% 600 428 400 341 -60% 200 0 -80% FY21A FY22A FY23A 3M23 3M24 Net Profit & Margin (Rp bn) Commentary 19% 18% 1,400 17% 16% 16% 20% ◼ Strong top-line growth
Slide 15: Quarterly performance
Quarterly performance Volume driven growth substantially derived from 2,168 continued performance of 2,031 both dairy and consumer Net Sales foods 1,831 1Q23 4Q23 1Q24 60% 1,400 1,200 40% 42% 45% 50% 970 40% 1,000 857 Gross margins have 30% 731 improved following lower Gross Profit 800 raw material
Slide 16: Balance sheet & cash flows
Balance sheet & cash flows Net Cash (Debt) Position (Rp bn) Dividend per Share (Rp) Commentary Strong balance sheet to support 90 ◼ Strong net cash position to rapid growth strategies continue to drive growth 70 63 initiatives. ◼ Well-positioned to continue 3,690 3,690 delivering healthy dividends 4
Slide 17: Operational Performance
2 Operational Performance
Slide 18: General Trade and Miss Cimory channels
Successful execution of our channel penetration strategies, with an emphasis on improving productivity per MCM agent General Trade (“GT”) Sales Force & Distributor Network Outlet Footprint Distributor Partners 8,110 chillers GT Sales Force Headcount deployed to date 400 852 813 806 900 350 300 505 7
Slide 19: Focus on channel growth and new product launches
We will maintain our focus on investing in channel growth and new product launches to capture rising consumer demand New Products Affordable size Yogurt Stick Kanzler Singles Channel Growth Launch of New Products Well-positioned to increase our shelf space ➢ Launch of Yogurt Stick Flavour Extension
Slide 20: Growth Strategy
Growth Strategy Organic Topline Growth Volume growth through trialship and repeatability of consumption Market share gains and category Leverage production facilities growth expansion and drive cost efficiencies Investment Continuous marketing investments and channel expansion 20
Slide 21: Growth supported by new channels, products and extensions
Growth supported by launch of products into new channels, and continued innovations through new products and extensions Premium Dairy Yoghurt Stick Fruitas Jelly Flavour Extensions New Product Yogurt Stick UHT Milk New Product Flavour Extensions 3Q 2023 3Q 2023 1Q 2024 3Q 2024 1Q 2023 2Q 2023 Crispy
Slide 22: Key Takeaways
Draft 3 Key Takeaways
Slide 23: Key takeaways
Key takeaways 1 Strong 3M24 top-line expansion of 18% YoY, driven primarily by volume-based growth Consumer Foods exhibited exceptional performance of 30% YoY Net Sales growth in 2 3M24, driven by contributions from all product categories Improving Gross Profit Margins with potential improvements as
Slide 24: Investors' FAQ
Investors’ FAQ 1 How sustainable is the margin expansion that we generated in Q1 2024? Consumer foods seems to be performing well despite a higher base now, what is the sustainable 2 run rate for this category going forward ? 3 The Company net cash position continues to increase, any plans for this
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