Pt Cisarua Mountain Dairy Tbk · IDX:CMRY
Pt Cisarua Mountain Dairy Tbk — Q1 2022 Earnings Presentation
20 slides from Pt Cisarua Mountain Dairy Tbk's earnings presentation, May 2022
Slide 1: PT Cisarua Mountain Dairy Tbk 1Q 2022 Results Presentation
PT Cisarua Mountain Dairy Tbk 1Q 2022 Results Presentation May 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 17 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 1Q Total Net Sales growth rates across both of our operating 4,096 segments, namely Premium Dairy and Premium Consumer Foods 1,862 1,391 1,470 713 FY19A FY20A FY21A 1Q21A 1Q22A 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 as inflationary pressures drive up the price of 62.8% 59.2% Raw Materials & Packaging and Labour 55.7% 15.1% 51.8% 52.6% Moving forward, heightened Cost of Sales
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 55 4.0% 30 3.5% 26 1.9% 1.6% 2.3% 29 1.9% 2.0% 0.9% 44 12 16 0.9% 0.8% 36 29 6 2.1% 1.9% 17 1.4% 1.1% 1
Slide 10: Operating & net profit
Operating & net profit Operating Profit & Margin (Rp bn) 26% 1,6 00 25% 30 % 1,4 00 22% 20 % 1,2 00 13% 1,007 1,0 00 10% 10 % 80 0 0% 60 0 40 0 328 236 187 145 -1 0% 20 0 0 -2 0% FY19A FY20A FY21A 1Q21A 1Q22A Net Profit & Margin(1) (Rp bn) Commentary 25 % 1,2 00 19% 20% Strong top-line Net Sales g
Slide 11: Quarterly performance
Quarterly performance Expecting sequential 1,470 improvements driven by 1,392 volume growth and selected Net Sales 713 ASP increases 1Q21 4Q21 1Q22 1,8 00 1,6 00 47% 48% 50 % 1,4 00 1,2 00 44% 45 % Gross Profit 1,0 00 80 0 662 650 40 % & Margin 60 0 40 0 338 35 % 20 0 0 30 % 1Q21 4Q21 1Q22 80 0 26%
Slide 12: Balance sheet & cash flows
Balance sheet & cash flows Net Cash (Debt) Position (Rp bn) Strong balance sheet to support rapid growth strategies 3,102 3,063 4,0 00 3,5 00 3,0 00 2,5 00 2,0 00 1,5 00 1,0 00 50 0 - (39) (5 00) (1 ,00 0) CC&E Debt Net Cash Net Operating Cash Flows vs Capital Expenditure (Rp bn) Commentary Net Oper
Slide 13: Operational Performance
2 Operational Performance
Slide 14: We have successfully executed our expansion plans across sales channels
We have successfully executed our expansion plans across sales channels, particularly in GT and our exclusive MCM channel General Trade (“GT”) Sales Force & Distributor Network Outlet Footprint 40 0 Distributor Partners 90 0 c. 15,000 chillers to GT Sales Force Headcount 20 0,00 0 35 0 575 be deploy
Slide 15: Cimory is well positioned to weather inflationary pressures
Cimory is well positioned to weather inflationary pressures which are impacting the diary and meat sectors… Other Players Subject to significant inflationary pressures and will need to incorporate effects of increased raw material and labour costs Inflationary Pressures Also subject to inflationary
Slide 16: Continuing to invest in channel growth and production capacity expansion
…while still continuing 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 a
Slide 17: 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$3,916/MT 3 May 2022 3,000 2,000 FY18A FY19A FY20A FY21A Jan 22 Feb 22 Mar 22 Apr 22 May 22 Note: 1) Per Global Dairy Trade as at
Slide 18: Key Takeaways
Draft 3 Key Takeaways
Slide 19: Key takeaways
Key takeaways Rapid top-line Net Sales expansion in 1Q22 of 106% YoY compared to 1Q21, 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 Selective ASP increases
Slide 20: Slide 20
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