Slide 1: Q1 CY2022 Unaudited Results Investor Briefing
Q1 CY2022 Unaudited Results Investor Briefing April 29, 2022 Irwin C. Lee Mickey T. Manalang President and CEO Strategy & Investor Relations Director
Slide 2: Disclaimer
Investor Presentation: Q1 CY2022 Business Results 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
Slide 3: Executive Summary
Investor Presentation: Q1 CY2022 Business Results Executive Summary • Q1 2022 net sales grew 22% on the back of strong performance across all business units with record sales in BCF Philippines • Market share gains vs. pre-pandemic retained across most categories; Q1 sales outpacing broader category
Slide 4: Continued market resurgence as pandemic recedes
Continued market resurgence as pandemic recedes Market continues its momentum in 2022, Investor Presentation: Q1 CY2022 Business Results showing growth across categories MAT MAT Feb21 Feb22 vs. 20 vs. 21 PHILIPPINES Snacks -14% +12% Candies -32% +14% Chocolates -16% +14% Biscuits -18% +7% Noodles
Slide 5: URC (Continuing Operations)
Investor Presentation: Q1 CY2022 Business Results URC (Continuing Operations) SALES EBIT NET INCOME In billion pesos In billion pesos In billion pesos 3.6 3.0 35.8 22% 5% 20% 29.4 3.9 4.1 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 • Strong double digit growth as sales • Margins still challenged
Slide 6: Accelerating growth momentum
Investor Presentation: Q1 CY2022 Business Results Accelerating growth momentum QUARTER SALES In billion pesos +15% +12% -3% -2% • All business units outperformed in Q1 2022, with double digit sales growth YoY • Q1 2022 sales up 15% vs. previous 35.8 quarter, driven by strong Branded 29.4 31.2 and Co
Slide 7: Focus on protecting absolute profits despite unprecedented cost pressures
Focus on protecting absolute profits despite unprecedented cost pressures while recovering margins over time Investor Presentation: Q1 CY2022 Business Results Php12B Estimated 2022 Full Year Impact of Materials Cost Increases ≥10 pts Margin impact of Material Cost Increases +7 pts Pricing recovery +
Slide 8: BCF Philippines: Accelerating momentum with record sales
Investor Presentation: Q1 CY2022 Business Results BCF PHILIPPINES Accelerating momentum with BCF Philippines posting record sales 17.1 14.9 • Highest monthly sales and quarterly sales in history 14% • Double-digit growth seen across most categories SALES • Sell-through continues to strengthen, with
Slide 9: Market share gains vs. pre-pandemic levels
Investor Presentation: Q1 CY2022 Business Results Market share gains vs. pre-pandemic levels URC Market Share YoY Category Growth MAT URC CATEGORY MAT Nielsen Feb20 (internal) (pre- Feb22 YTD Feb22 pandemic) Q1 2022 • Shares stabilizing from PHILIPPINES supply-driven highs in 2021 Snacks 35.9% 36.
Slide 10: BCF International: Strong performance of Indochina and uplift from Munchy's
Investor Presentation: Q1 CY2022 Business Results BCF INTERNATIONAL Strong performance of Indochina and uplift from Munchy’s • URCI up 36% in constant currency terms • Core international business posting double digit SALES 7.8 41% sales growth of 15% (12% on constant currency) In billion pesos 5.6 d
Slide 11: Munchy's performing in line with expectations; integration on track
Munchy’s performing in line with expectations; integration on track Investor Presentation: Q1 CY2022 Business Results ✓ Munchy’s displaying robust sales growth, with Q1 sales up 7% vs. prior year ✓ Revenue and cost synergies, in both domestic Malaysia and in the International markets, have been iden
Slide 12: AIC: Double digit growth across all business units
Investor Presentation: Q1 CY2022 Business Results AIC Double digit growth across all business units 10.3 21% 8.5 • Sugar and Renewables (SURE) and Flour leads 5.8 +23% growth, with sales up 23% on higher selling 4.7 prices SALES In billion pesos 1.5 +22% 1.2 3.1 +17% • Feeds drives strong showing of
Slide 13: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Cash and Financial Debt Investor Presentation: Q1 CY2022 Business Results In billion pesos Gearing Ratio 17.6 17.0 17.3 0.14 0.17 15.9 2021 2022 2021 2022 Cash + Financial Assets at FVPL + AFS Financial Debt Cash Position • Balance sheet remains healthy In billion pesos a
Slide 14: Executive Summary
Investor Presentation: Q1 CY2022 Business Results Executive Summary • Q1 2022 net sales grew 22% on the back of strong performance across all business units with record sales in BCF Philippines • Market share gains vs. pre-pandemic retained across most categories; Q1 sales outpacing broader category
Slide 15: URC Strategy
URC Strategy Strategic Thrusts Pivoting to strong growth in 2022 Investor Presentation: Q1 CY2022 Business Results Grow the CORE We now estimate full-year Expand for MORE topline growth to increase at the low-to-mid teens range, while improving absolute • People and Planet Friendly Culture bottom li
Slide 16: Thank You
Investor Presentation: Q1 CY2022 Business Results THANK YOU 16
Slide 17: Income Statement
Investor Presentation: Q1 CY2022 Business Results Income Statement Q1 2022 Q1 2021 (Php Millions) YoY (Unaudited) (Audited) NET SALES 35,783 29,366 22% Cost of Sales 26,004 20,534 27% GROSS PROFIT 9,779 8,831 11% Operating Expense -5,712 -4,973 15% OPERATING INCOME 4,067 3,858 5% Equity in net incom
Slide 18: Balance Sheet
Investor Presentation: Q1 CY2022 Business Results Balance Sheet Q1 2022 CY 2021 (Php Millions) (Unaudited) (Audited) Cash & cash equivalents 16,959 17,629 (including Financial assets at FVPL and FVOCI) Other current assets 53,928 49,863 Property, plant, and equipment 56,986 55,881 Other noncurrent a
Slide 19: Divisional Financials
Investor Presentation: Q1 CY2022 Business Results Divisional Financials SALES EBIT EBIT MARGIN (Php Millions) Q1 Q1 Q1 Q1 Q1 Q1 YoY YoY bps 2022 2021 2022 2021 2022 2021 Branded Consumer Foods 25,450 20,820 22% 3,014 2,927 3% 11.8% 14.1% (221) Philippines (including Packaging) 17,610 15,259 15% 2,29
Slide 20: Market Shares
Market Shares Philippines Thailand Investor Presentation: Q1 CY2022 Business Results MARKET MARKET CATEGORY #1 #2 #3 CATEGORY #1 #2 #3 SHARE SHARE Snacks 36.6% URC 24.0% 5.7% Biscuits 17.7% URC 13.5% 7.8% Candies 27.0% URC 12.7% 11.9% (new) Chocolates Wafers 20.7% 22.4% URC 9.7% and Co