Fraser & Neave Ltd. · SGX:F99
Fraser & Neave — H1 2022 Earnings Presentation
15 slides from Fraser & Neave's earnings presentation, May 6, 2022
Slide 1: Financial Highlights 1H2022
FINANCIAL HIGHLIGHTS for six months ended 31 March 2022 (“1H2022”) (Unaudited) 6 May 2022
Slide 2: Important notice
Slide 2 Important notice Certain statements in this Presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the ac
Slide 3: Financial Highlights
Slide 3 FINANCIAL HIGHLIGHTS 1H2022 Financial Report (Unaudited) $1,010.0M $127.0M 12.6% + 2.2% - 17.1% - 293BPS REVENUE PBIT PBIT MARGIN $92.8M $68.5M 4.7CTS - 21.2% - 17.9% - 19.0% ATTRIBUTABLE EARNINGS PER PAT PROFIT1 SHARE1 (CENTS) Half-year ended 31 March 2022 1. Before exceptional items
Slide 4: Financial Analysis: Revenue by Business
Slide 4 FINANCIAL ANALYSIS : Revenue 1H2022 Revenue | BY BUSINESS KEY TAKEAWAYS • Beverages fueled 1H2022 revenue $1,010.0m growth; lifted by higher Beer and $988.6m +15% -3% -7% NM Soft Drinks volumes, and increased selling prices F&B • Successful festive campaigns, new (+3%) product launches and s
Slide 5: Financial Analysis: Revenue by Geography
Slide 5 FINANCIAL ANALYSIS : Revenue 1H2022 Revenue | BY GEOGRAPHY KEY TAKEAWAYS • All markets, except Thailand, recorded top line growth 1H22 1H21 • Ease of interstate travel, $1,010.0M $988.6M successful festive campaigns and higher selling prices Singapore 22% 22% boosted soft drinks sales in Mal
Slide 6: Financial Analysis: PBIT by Business
Slide 6 FINANCIAL ANALYSIS : PBIT 1H2022 PBIT | BY BUSINESS KEY TAKEAWAYS • Beverages earnings growth was $153.3m + 24% driven by higher sales + 60% $127.0m • Beer profits more than doubled - 21% NM • Dairies earnings fell 21%, despite F&B higher profits from Dairies (- 14%) Malaysia and Vinamilk •
Slide 7: Financial Analysis: PBIT by Geography
Slide 7 FINANCIAL ANALYSIS : PBIT 1H2022 PBIT | BY GEOGRAPHY KEY TAKEAWAYS • Thailand and Vietnam were top profit contributors 1H2022 1H2021 • Malaysia’s contribution increased $127.0M $153.3M due to lower A&P spending, 7% higher sales and savings from Singapore -2% cost cutting measures Malaysia 25
Slide 8: Financial Analysis: Profit After Tax
Slide 8 FINANCIAL ANALYSIS : Profit After Tax 1H2022 PROFIT AFTER TAX KEY TAKEAWAYS • Exceptional items of $7.8m, arose $117.7m mainly from the impairment of inventories and property, plant $92.8m and equipment as a result of + 38% flash floods in Malaysia - 17% - 7% NM • Lower effective tax rate of
Slide 9: Financial Highlights: Balance Sheet
Slide 9 FINANCIAL HIGHLIGHTS : Balance Sheet 1H2022 BALANCE SHEET TOTAL LIABILITIES $1,407.1M Borrowings $833.8M TOTAL ASSETS $4,885.5M Other Current Liabilities $474.4M Other Non-Current Liabilities $ 98.9M Cash and Bank Balances $252.8M Other Current Assets $743.8M TOTAL EQUITY $3,478.4M Non-Curre
Slide 10: Strong Capital Structure
Slide 10 STRONG CAPITAL STRUCTURE Maturity Profile of Group Debt 92% of Group Borrowings on Fixed Rates 1H2022 FY2021 $529.6m Cash 252.8M 471.8M Floating Fixed $304.2m Rates Rates Borrowings 833.8M 926.8M 8% 92% Gearing1 16.7% 13.2% MATURING < 1YR MATURING > 1YR Dividend Interim Dividend of 1.5 Cent
Slide 11: Corporate Development
Corporate Development Half-year ended 31 March 2022
Slide 12: Proposed acquisition of Ladang Permai Damai
Slide 12 Proposed acquisition of Ladang Permai Damai • Fraser & Neave Holdings Bhd (“F&NHB”), through its indirect 65% held subsidiary, entered into a conditional share sale agreement to acquire 100% equity interest in Ladang Permai Damai Sdn Bhd for a cash consideration of RM215.6 million • The acq
Slide 13: New Packaging: 100PLUS
Slide 13 NEW PACKAGING : 100PLUS Healthier Choice Logo Available in Singapore and Malaysia PET 1.5L, 500ml CAN 300ml BOX, SACHET
Slide 14: Thank You
THANK YOU Analyst and media contact: Jennifer Yu Director, Investor Relations T: (65) 6318 9231 E: jenniferyu@fngroup.com.sg Website: https://fraserandneave.com
Slide 15: 1H2022 Group Financial Highlights (Unaudited)
Slide 15 1H2022 Group Financial Highlights (Unaudited) Half-Year Ended 31 March 2022 Change 1H2022 1H2021 ($ million) (%) Revenue 1,010.0 988.6 2.2 Gross Profit 285.8 319.4 10.5 Profit before interest and tax 127.0 153.3 17.1 PBIT margin (%) 12.6% 15.5% 293bps Profit after tax 92.8 117.7 21.2 Profit