Dutch Lady Milk Industries Bhd. · MYX:DLADY
Dutch Lady Milk Industries Bhd — Investor Presentation (April 2026)
30 slides from Dutch Lady Milk Industries Bhd's investor presentation, Apr 6, 2026
Slide 1: Nourishing our Nation
Nourishing our Nation Investor Briefing 6th April 2026
Slide 2: Financial Year 2025 at a Glance – Transition to Acceleration
Financial Year 2025 at a Glance – Transition to Acceleration Revenue increased by Successfully launched Supporting child 3.8% to RM 1.50 billion new integrated nutrition Gross margin increased by Distribution Centre nationwide through enabling network efficiency, service 1.5 ppts to 35.3% reliabilit
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: 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 6: 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 7: Revenue growth fueled by Liquid Milk, Professional and new launches
Revenue growth fueled by Liquid Milk, Professional and new launches Stronger business performance across key strategic products, partially offset by discontinued range In MYR mln +55.3 (+3.8%) 10.4 3.7 26.3 -15.1 55.5 1,500.4 -25.5 1,445.1 Discontinued YTD Dec 2024 Liquid Milk Core New Launch Prof.
Slide 8: FY2025 Financial Performance
FY2025 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 +3.8% YoY | RM1.50bn +7.3% YoY
Slide 9: Operating Profit Growing by 17.8%
Operating Profit Growing by 17.8% Strong profitability growth driven by volume, RGM and lower transition costs; COGS increase offset by positive FX +23.3 +17.8% 21.4 154.7 25.0 6.6 7.7 -4.6 131.4 -11.8 -20.9 2024 Volume and product mix RGM COGS FX A&P Other expenses One-off transition 2024 9
Slide 10: Strong Cash Generation, Normalising CAPEX & Improved Inventory turnover
Strong Cash Generation, Normalising CAPEX & Improved Inventory turnover Operating Cash Flow Capital Expense Cash Balance Inventory +88% YoY | RM159.9m -24% YoY | RM101m +94% YoY | RM92.6m -7% YoY | RM219m 92.6 241.0 236.0 206.6 200.1 219.0 159.9 66.1 132.0 47.8 101.0 84.8 2023 2024 2025 2023 2024 20
Slide 11: Strategic and Growth Thesis
STRATEGIC AND GROWTH THESIS 11 Draft | Internal use only | Confidential
Slide 12: Growing National Focus on Child Nutrition Strengthens Dairy Relevance
Growing National Focus on Child Nutrition Strengthens Dairy Relevance Rising Child Nutrition Challenge • Child stunting increased to 21.2% in 2022 (17.7% in 2015, NHMS) • Malaysia reportedly only ASEAN country with rising stunting rates Policy Discussion on Nutrition Support • Parliamentary committe
Slide 13: Nutrition Insights Drive Product Innovation and Relevance
Nutrition Insights Drive Product Innovation and Relevance Consumer nutrition insights enable DLMI to design products that address Malaysia’s key nutritional challenges. Dairy Enhancing essential SEANUTS supports the intake micronutrients to Southeast Asian Nutrition Surveys of essential in Southeast
Slide 14: Malaysia's Dairy Consumption Gap Creates Long-Term Growth Opportunity
Malaysia’s Dairy Consumption Gap Creates Long-Term Growth Opportunity DLMI Opportunities Below Age 12 Nutritious & Affordable Breakfast • 0.6 Breakfast remains the largest dairy consumption occasion in Malaysia Servings of milk/dairy per day • While 89% of Malaysians eat breakfast, only ~52% consume
Slide 15: Introducing the new Dutch Lady Omega 3*6
Introducing the new Dutch Lady Omega 3*6 The first 5 years shape how a child thinks, learns, and grows - it’s when the brain develops fastest. Packed with brain-supportive nutrients for a strong start, supporting growth of their curious minds and growing bodies. Strengthen memory and stimulate blood
Slide 16: 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 17: Operational and Commercial Acceleration
OPERATIONAL AND COMMERCIAL ACCELERATION 17 Draft | Internal use only | Confidential
Slide 18: 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 19: Brand Leadership Driven by Innovation and Strong Commercial Execution
Brand Leadership Driven by Innovation and Strong Commercial Execution #1 Liquid Milk Brand in Malaysia +4.3% +7.6% 41.8% value share Value Growth Volume Growth Nielsen YTD Dec 2025 45.0% volume share Nielsen YTD Dec 2025 Nielsen YTD Dec 2025 Innovation and Portfolio Expansion in 2025 Enhanced Commer
Slide 20: Q1 2026 Ramadan Activation – Winning the Sahur Consumption Occasion
Q1 2026 Ramadan Activation – Winning the Sahur Consumption Occasion Sahur Consumption Occasion Leveraging key influencers and livestream commerce to capture the Sahur occasion 1.28M live viewers 8,720 orders recorded!
Slide 21: 2026 - Packaging Refresh Strengthens Brand Standout and Consumer Relevance
2026 - Packaging Refresh Strengthens Brand Standout and Consumer Relevance The Need to Evolve What’s Better? ✓ Stronger Brand & Shelf Standout Bolder Dutch Lady logo and colour contrast improve visibility and brand recognition. ✓ Clearer Benefit Communication “Build Strong Body” positioning strength
Slide 22: Taste Leadership Reinforces Dutch Lady's Consumer Preference
Taste Leadership Reinforces Dutch Lady’s Consumer Preference Consumer research shows Dutch Lady leading in taste preference across Full Cream and Chocolate, while remaining highly competitive in Fresh Milk. FULL CREAM CHOCOLATE FRESH Most Preferred No.1 Most Liked Competitive with by Moms Chocolate
Slide 23: FrieslandCampina Professional: Accelerating Out-of-Home Growth
FrieslandCampina Professional: Accelerating Out-of-Home Growth Strong 2025 Opportunities Strategy +7% Rapid café & Growing • Menu co-creation with Volume growth bakery partners coffee & tea expansion • Tailored dairy solutions culture offering cost and +1,088 • convenience Training & barista new out
Slide 24: Sustainability
SUSTAINABILITY 24 Draft | Internal use only | Confidential
Slide 25: Sustainability Performance – FY2025
Sustainability Performance – FY2025 Nutrition People Planet FC Nutritional Healthier Choice Logo Top Employer GHG emissions Energy consumption Health and Safety Standards (FCNS) Products (HCL) intensity intensity Sole Dairy company in Malaysia 96.3% 85.7% 0 Top Employer in Malaysia for 0.15 1.18 202
Slide 26: 2026 Outlook & Growth Driver
2026 Outlook & Growth Driver 26 Draft | Internal use only | Confidential
Slide 27: 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 28: Impact of Middle-East Crisis on supply continuity and cost
Impact of Middle-East Crisis on supply continuity and cost Short- and Long-Term Effects DLMI Response • Short Term • Secured Raw Material Coverage - Key dairy commodities, specialty • Freight & Shipping Costs - Shipping route disruptions and ingredients and critical packaging inputs are currently se
Slide 29: DLMI Growth Drivers
DLMI Growth Drivers Structural Advantages Reinforcing Leadership & Sustainable Growth Market Leadership Scale & Efficiency – • #1 market share in RTD DLMI@Enstek and Infant Formula dairy • Integrated manufacturing and categories distribution hub • Taste leadership • Enhances operational efficiency,
Slide 30: Thank you
Thank you Email: finance.dept@frieslandcampina.com Disclaimer: This presentation has been prepared by Dutch Lady Milk Industries Berhad for informational purposes in connection with this briefing. Certain statements in this presentation may contain forward-looking statements based on current expecta
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