Pt Cisarua Mountain Dairy Tbk · IDX:CMRY
Pt Cisarua Mountain Dairy Tbk — 2Q 2022 Earnings Presentation
21 slides from Pt Cisarua Mountain Dairy Tbk's earnings presentation, Jul 25, 2022
Slide 1: PT Cisarua Mountain Dairy Tbk 2Q 2022 Results Presentation
PT Cisarua Mountain Dairy Tbk 2Q 2022 Results Presentation 25 July 2022
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 Bharat Joshi Axel Sutantio President Director Director Director Group Chief Executive Officer Chief Financial Officer MP Chief Executive Officer & Investor Relations
Slide 4: Agenda
Agenda 1 Financial Results 4 2 Operational Performance 12 3 Key Takeaways 18 3
Slide 5: Financial Results
1 Financial Results
Slide 6: Net sales
Net sales Total Net Sales (Rp bn) Commentary Premium Dairy Premium Consumer Foods Strong 6M Total Net Sales growth rates across both of our operating 4,096 segments, namely Premium Dairy 3,133 and Premium Consumer Foods 1,862 1,582 1,391 FY19A FY20A FY21A 6M21A 6M22A Premium Dairy Net Sales (Rp bn
Slide 7: Gross profit
Gross profit Cost of Sales % Net Sales (Rp bn) Commentary Raw Materials & Packaging Others Increases in Cost of Sales a % of Net Sales YoY due to inflationary pressures driving up the 62.8% 59.2% price of Raw Materials & Packaging as well as 56.7% 52.1% Direct Labour 15.1% 51.8% 16.9% 9.2% Cost
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: General & administrative expenses
General & administrative expenses General & Administrative Expenses (Rp bn) General & Administrative Expenses % Net Sales (Rp bn) Salaries & Allowances Salaries & Allowances Others Others 79 66 35 58 55 4.0% 30 3.5% 27 26 1.9% 1.6% 32 2.0% 1.9% 1.9% 15 44 0.9% 0.9% 0.9% 36 29 31 2.1% 1.9% 17 1.1% 1.
Slide 10: Operating & net profit
Operating & net profit Operating Profit & Margin (Rp bn) 1,6 00 29% 25% 30 % 1,4 00 22% 20 % 1,2 00 13% 1,007 1,0 00 10% 10 % 80 0 697 0% 465 60 0 40 0 236 -1 0% 20 0 145 0 -2 0% FY19A FY20A FY21A 6M21A 6M22A Net Profit & Margin(1) (Rp bn) Commentary 23% 1,2 00 19% 25 % Strong top-line Net Sales g
Slide 11: Quarterly performance
Quarterly performance 1,663 Expecting sequential 1,470 improvements driven by volume growth Net Sales 869 2Q21 1Q22 2Q22 48% 1,8 00 50 % 1,6 00 44% Gross Margins have 1,4 00 42% 45 % stabilised, and foresee 1,2 00 potential upside as our cost 1,0 00 40 % Gross Profit 650 706 base improves 80 0 & Mar
Slide 12: Balance sheet & cash flows
Balance sheet & cash flows Net Cash (Debt) Position (Rp bn) Strong balance sheet to support rapid growth strategies 4,0 00 2,932 3,5 00 3,0 00 2,895 2,5 00 5121 2,0 00 1,5 00 1,0 00 2,420 (38) 50 0 - (5 00) CC&E Debt Net Cash Net Operating Cash Flows vs Capital Expenditure (Rp bn) Commentary Net Ope
Slide 13: Operational Performance
2 Operational Performance
Slide 14: General Trade and Miss Cimory channel penetration
We have successfully executed our channel penetration strategies, with an emphasis on improving productivity and service in MCM... General Trade (“GT”) Sales Force & Distributor Network Outlet Footprint 40 0 Distributor Partners 90 0 c. 15,000 chillers to 35 0 GT Sales Force Headcount 694 70 0 be de
Slide 15: General Trade outlet footprint and shelf space growth
…whilst in General Trade, our outlet footprint and shelf space continues to grow at a rapid pace Premium Consumer Foods Amen Frozen – Tangerang 14
Slide 16: General Trade outlet footprint and shelf space growth (cont'd)
…whilst in General Trade, our outlet footprint and shelf space continues to grow at a rapid pace (cont’d) Premium Dairy SMA YES – Bima, Nusa Tenggara Barat 15
Slide 17: Continue to invest in channel growth and production capacity expansion
We will continue to invest in channel growth and production capacity expansion in order to drive top-line growth Channel Growth Capacity Expansion Well positioned to take up shelf space vacated by We will continue to expand our production capacity competitors, and continue investing heavily across a
Slide 18: Price of raw materials have begun to normalise
Price of raw materials have begun to normalise, which if sustained will result in a positive impact on our Gross Margins Whole Milk Powder Prices (US$/MT)1 5,000 4,000 US$3,757/MT 19 Jul 2022 3,000 2,000 FY18A FY19A FY20A FY21A Jan 22 Feb 22 Mar 22 Apr 22 May 22 Jun 22 Jul 22 Note: 1) Per Global Dai
Slide 19: Key Takeaways
Draft 3 Key Takeaways
Slide 20: Key takeaways
Key takeaways Rapid top-line Net Sales expansion in 6M22 of 98% YoY compared to 6M21, driven 1 primarily by volume-based growth Robust Net Sales growth coupled with comparative advantage in mitigating 2 inflationary pressures resulted in strong nominal net profit performance Potential upside from no
Slide 21: Slide 21
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