Slide 1: 1H CY2024 Unaudited Results Investor Briefing
1H CY2024 Unaudited Results Investor Briefing Aug 2, 2024 Irwin C. Lee Pancho M. Del Mundo Jose Miguel T. Manalang President and CEO Chief Investments, Strategy and Strategy & Investor Relations Corporate Services Officer Director
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 • 1H 2024 Revenues Php80.7B up +3% vs. SPLY, on the back of 7% volume growth across all business units, but offset by negative price/mix of 4% • 1H 2024 Operating Income at Php9.4B, up +10% vs. SPLY. All business units except SURE have delivered high single-digit to double-digit pr
Slide 4: Total URC (Continuing Operations)
TOTAL URC (CONTINUING OPERATIONS) SALES EBIT NET INCOME In billion pesos In billion pesos In billion pesos 7.6 7.0 8% 80.7 3% 78.3 9.4 10% 8.6 6.4 6.7 5% 2023 1H 2024 1H 2023 1H 2024 1H 2023 1H 2024 1H Core NI • Total revenue up 3% for the first • Operating income grew 10% vs. • Net income from cont
Slide 5: Market and Consumer Landscape
Market and Consumer Landscape Weak consumer confidence Food prices elevated, affecting household purchasing power with concerns on increasing food prices Top Concern APAC Increasing Food Prices 23% 34% Increasing Utility Bills 6% 7% Job Security 6% 7% CPI rebased to Jan 2021 (=100) Philippine consum
Slide 6: BCF Philippines
BCF PHILIPPINES Sustained volume growth momentum led by RTD beverages • Overall growth in volumes sustained vs. high base (Q2 2023 highest volumes post SAP transition), though value SALES 37.4 37.6 1% growth tempered by product mix (lower price tier growth) In billion pesos • YTD revenue and market
Slide 7: Current Growth Focus Areas BCF PH
Current Growth Focus Areas CORE MORE ✓ Volume Driven Growth ✓ Emerging Bakery and Beverage Segments BCF YTD Volume Growth +5%, though RTD (ex-C2) and Cakes, both up PH category performance mixed as value over 20% in H1 2024 brands driving growth ✓ Customer Service and Supply Network Upgrade YTD Orde
Slide 8: BCF International
BCF INTERNATIONAL Robust revenue growth across all markets alongside sustained margin expansion • International Sales up 8% vs. SPLY on constant currency (+4% on Peso) with core businesses continuing to deliver growth SALES 15.9 17.1 8% • Vietnam, Indonesia, and Myanmar setting the pace for In billi
Slide 9: Rationalization of China Business
Rationalization of China Business • URC has announced its intention to strategically exit China, where it participates in the Cereals and Snacks categories • Business has been downsized over the years, with URC previously exiting Biscuits (2016) and Coffee (2018) • URC has impaired the business, set
Slide 10: Agro-Industrial and Commodities
AGRO-INDUSTRIAL AND COMMODITIES Volume-led growth of commodities and pet food • Pet food continues its growth trajectory, while hog feeds down as overall feeds demand affected by disease outbreak • Commodities topline growth driven by higher overall SALES 23.8 25.5 7% volumes, offset by significant
Slide 11: Current Growth Focus Areas URCI and AIC
Current Growth Focus Areas CORE MORE URCI ✓ Sustain Top 3 Markets Growth ✓ Munchy’s Expansion in Southeast Asia ✓ New Legs Volume and Share Growth across top 3 markets AIC ✓ Mills Capacity Expansion ✓ Pet Expansion Raw Sugar and Flour Volumes up mid- Penetration into Modern Trade with smaller teens;
Slide 12: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Cash and Financial Debt Gearing Ratio In billion pesos 0.23 0.21 26.7 24.7 13.3 14.9 CY 2023 2024 1H CY 2023 2024 1H Cash + Financial Assets at FVPL + AFS Financial Debt Cash Position In billion pesos 12.6 3.4 • Strong profits/EBITDA able to support 4.1 investments for fu
Slide 13: Executive Summary
EXECUTIVE SUMMARY • 1H 2024 Revenues Php80.7B up +3% vs. SPLY, on the back of 7% volume growth across all business units, but offset by negative price/mix of 4% • 1H 2024 Operating Income at Php9.4B, up +10% vs. SPLY. All business units except SURE have delivered high single-digit to double-digit pr
Slide 14: Thank You!
Thank You!
Slide 15: Income Statement
Income Statement 2024 1H 2023 1H (Php Millions) YoY (Unaudited) (Audited) NET SALES 80,748 78,320 3% Cost of Sales 57,726 57,529 0% GROSS PROFIT 23,022 20,790 11% Operating Expense -13,610 -12,204 12% OPERATING INCOME 9,412 8,586 10% Equity in net income of JVs -62 -33 Finance cost – net -703 -569 M
Slide 16: Income Statement
Income Statement 2024 1H (Unaudited) 2023 1H (Audited) (Php Millions) Ex-China China Total Ex-China China Total NET SALES 80,748 225 80,973 78,320 310 78,629 Cost of Sales 57,726 116 57,842 57,529 182 57,711 GROSS PROFIT 23,022 109 23,131 20,790 128 20,918 Operating Expense -13,610 -126 -13,736 -12,
Slide 17: Balance Sheet
Balance Sheet 2024 1H CY 2023 (Php Millions) (Unaudited) (Audited) Cash & cash equivalents 14,887 13,311 (including Financial assets at FVPL and FVOCI) Other current assets 75,799 76,316 Property, plant, and equipment 63,117 62,410 Other noncurrent assets 28,928 28,264 TOTAL ASSETS 182,731 180,302 C
Slide 18: Divisional Financials (Continuing Operations)
Divisional Financials (Continuing Operations) SALES EBIT EBIT MARGIN (Php Millions) 2024 1H 2023 1H YoY 2024 1H 2023 1H YoY 2024 1H 2023 1H bps Branded Consumer Foods 55,261 54,517 1% 7,088 6,118 16% 12.8% 11.2% 161 Philippines 37,598 37,372 1% 4,870 4,496 8% 13.0% 12.0% 92 International 17,082 16,4
Slide 19: Market Shares
Market Shares Philippines Thailand MARKET MARKET CATEGORY #1 #2 #3 CATEGORY #1 #2 #3 SHARE SHARE Snacks 34.9% URC 25.0% 6.4% Biscuits 14.4% URC 13.2% 7.7% Candies 24.6% URC 15.3% 13.4% Wafers 19.4% 25.1% URC 7.9% Chocolates and 21.7% URC 14.2% 7.5% Coated Wafers Vietnam Biscuits 15.0% 28.5% 27.4% U