Sunshine Holdings Plc · CSELK:SUN.N0000
Sunshine — Q3 FY2024 Earnings Presentation
29 slides from Sunshine's earnings presentation, Feb 14, 2024
Slide 1: 3QFY24 Earnings Webinar
3QFY24 Earnings Webinar Sunshine Holdings PLC 14 February 2024
Slide 2: Housekeeping Announcements
Housekeeping Announcements • The webinar will be recorded and later uploaded to our IR website for future reference • All participants will be muted during the presentation. • Participants can unmute themselves to ask questions in the Q&A session • Participants can raise their questions via the chat
Slide 3: Corporate Announcements
Corporate Announcements • 15th November - Ms. Aruni Goonetilleke was appointed as an Independent Non- Executive Director of the Company. • 18th January - A capital infusion of LKR 500 million has been provided to Sunshine Tea Pvt Ltd. • 18th January - Mr. Aruna Deepthikumara was appointed as an Exec
Slide 4: Group Performance
Group Performance
Slide 5: Group at a Glance – 3QFY24
Group at a Glance – 3QFY24 Revenue Composition - 3QFY24 Other, 0.1% Agriculture, -8.9% 13.2% • LKR 14.2bn Revenue • LKR 2.6bn EBIT +72.2% YoY LKR 14.2bn Healthcare, 50.6% • LKR 1.8bn PAT +188.5% YoY Consumer, 4.4% 19.4% 36.1% • Leverage at 29.5% (FY23: 27.1%) 7.0%
Slide 6: Group – Performance Highlights
Group – Performance Highlights (LKR millions) LKR m 3QFY24 3QFY23 Growth (YoY) % 2QFY24 Growth (QoQ) % Revenue 14,229 13,633 4.4% 14,787 -3.8% EBIT 2,568 1,491 72.2% 2,811 -8.6% EBIT margin 18.0% 10.9% 19.0% PAT 1,812 628 188.5% 2,209 -18.0% PAT margin 12.7% 4.6% 14.9% PATMI 1,400 272 414.7% 1648 -1
Slide 7: Historical Trend – Revenue QoQ
Historical Trend – Revenue QoQ Revenue Composition 13% 16% 21% 15% 15% 21% Revenue LKR bn 36% 37% 35% 35% 41% 34% 20% 18% 16% 19% 24% 14% 27% 25% 33% 25% 22% 32% 51% 44% 44% 47% 44% 51% 54% 54% 53% 57% 50% 53% 4QFY21 1QFY22 2QFY22 3QFY22 4QFY22 1QFY23 2QFY23 3QFY23 4QFY23 1QFY24 2QFY24 3QFY24 Health
Slide 8: Healthcare
Healthcare
Slide 9: Healthcare Sector
Healthcare Sector Revenue Split [3QFY24] Total Asset Split [3QFY24] Pharma Manufacturing Pharma Manufacturing 9% 15% Retail (Healthguard) 9% Retail (Healthguard) 4% Medical devices 22% Pharma+Distribution Pharma+Distribution 56% 60% Medical devices 25%
Slide 10: Healthcare – Performance Highlights
Healthcare – Performance Highlights (LKR millions) LKR m 3QFY24 3QFY23 Growth (YoY) % 2QFY24 Growth (QoQ) % Revenue 7,197 6,029 19.4% 7,526 -4.4% EBIT 1,305 584 123.5% 1162 12.3% EBIT margin 18.1% 9.7% 15.4% PAT 835 55 1418.2% 852 -2.0% PAT margin 11.6% 0.9% 11.3% • In 3QFY24, the EBIT margin improv
Slide 11: Sunshine Pharmaceuticals
Sunshine Pharmaceuticals During 3QFY24, • Market growth at 22.2% YoY • Sunshine recorded growth of 20.2% 60.00% 13.20% 49% 13.1% 50.00% 13.1% 13.1% 13.10% 40.00% 30% 29% 13.00% 30.00% 12.9% 19% 19% 12.90% 20.00% 10.00% 5% 12.80% 12.7% 0.00% 12.70% -10.00% Q3FY23 Q4FY23 Q1 FY24 Q2 FY24 Q3 FY24 -20.00
Slide 12: Pharmaceuticals – Price Increase Index
Pharmaceuticals – Price Increase Index Dec 2021 considered as the base (i.e., 100) 190 400 370 370 370 370 365 365 365 362 362 181 181 181 181 181 181 181 181 181 181 336 181 181 180 322 319 322 323 324 325 326 350 309 296 300 170 250 160 16% MRP 152 152 152 152 152 152 152 200 150 Reduction 150 140
Slide 13: Sunshine Medical Devices
Sunshine Medical Devices • 3QFY24 witnessed a 23.5% YoY revenue growth. Market Dynamics 100% 95% 91% 89% 91% 90% 84% 86% 85% 86% 84% 80% 77% 77% 77% 74% 79% 71% 77% 76% 77% 70% 68% 69% 60% 61% 50% 1QFY23 2QFY23 3QFY23 4QFY23 1QFY24 2QFY24 3QFY24 Hospital Occupancy Lab Tests Operation Theaters
Slide 14: Lina - Pharma Manufacturing
Lina - Pharma Manufacturing • During the 3QFY24, the revenue grew 1.5x reaching LKR 768m. • Improved capacity utilization in the MDI and capsule line
Slide 15: Healthguard Pharmacy - Retail
Healthguard Pharmacy - Retail Retail Segment Performance • Strong BC growth driven by promotions and improved availability • 3QFY24 Revenue grew by 25.0% YoY • Wellness Product purchases has helped improve the GP margin FY23 FY24 KPI (YoY) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Same store sales (SSS) 0.6% -13.4% 12.9
Slide 16: Consumer
Consumer
Slide 17: Consumer Sector – Performance Highlights
Consumer Sector – Performance Highlights (LKR millions) LKR m 3QFY24 3QFY23 Growth (YoY) % 2QFY24 Growth (QoQ) % Revenue 5,136 5,523 -7.0% 4,999 2.7% EBIT 679 205 231.2% 782 -13.2% EBIT margin 13.2% 3.7% 15.6% PAT 401 5 7920.0% 472 -15.0% PAT margin 7.8% 0.1% 9.4% • Revenue for 3QFY24, driven by the
Slide 18: Consumer Sector – Revenue & Volumes
Consumer Sector – Revenue & Volumes KPIs FY23 FY24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Volume Tea (Local) Revenue growth -4% 10% 41% 84% 93% 77% 31% Volume (Kgs '000) 1,009 974 1,260 1,095 1,053 1,157 1,361 YoY Growth -21% -26% -16% -10% 4% 19% 8% Confectionary Revenue growth 33% 107% 73% 14% 7% -31% -26% Volume (
Slide 19: Brand Value Market Share (%) – Tea
Brand Value Market Share (%) – Tea 100 90 17 15 17 20 16 18 16 16 16 17 17 18 16 15 21 80 70 43 39 Market Share % 60 40 41 47 45 41 45 48 46 50 49 50 47 49 50 40 30 37 39 38 37 35 31 33 29 23 24 24 20 32 31 24 24 10 7 6 8 8 9 10 11 11 6 4 5 4 5 5 6 0 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23
Slide 20: Brand Value Market Share (%) – Confectionary
Brand Value Market Share (%) – Confectionary 100 90 21 22 21 22 21 23 22 23 23 24 24 24 23 22 80 70 30 28 27 26 26 25 24 24 23 22 22 22 21 26 Market Share % 60 50 40 38 30 30 33 34 36 35 36 36 35 36 36 36 37 30 20 10 20 21 19 17 17 17 17 17 18 18 18 18 18 19 0 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-
Slide 21: Price Index – Tea and Confectionary
Price Index – Tea and Confectionary March 2022 considered as the base (i.e., 100) 180 230 214 214 214 170 164 210 201 203 199 200 200 167167167167167167167167167167167167167167167167167167159 167167 160 188 189 191 151 190 179 179 179 177 176 150 145 172 172 172 172 172 172 170 140 140 132133 150 12
Slide 22: Sunshine Tea - Exports
Sunshine Tea - Exports 1,200 2500 1,000 2000 800 Export Revenue 1500 Export Qty 600 1000 400 500 200 - 0 1QFY23 2QFY23 3QFY23 4QFY23 1QFY24 2QFY24 3QFY24 Export Quantity ('000 Kg) - RHS Export Revenue (LKR million) - LHS • The revenue contracted 39% YoY mainly due to the adverse volume impact of the
Slide 23: Agribusiness
Agribusiness
Slide 24: Agribusiness – Performance Highlights
Agribusiness– Performance Highlights (LKR millions) LKR m 3QFY24 3QFY23 Growth (YoY) % 2QFY24 Growth (QoQ) % Revenue 1,885 2,070 -8.9% 2,241 -15.9% EBIT 608 724 -16.0% 907 -33.0% EBIT margin 32.3% 35.0% 40.5% PAT 574 691 -16.9% 878 -34.6% PAT margin 30.5% 33.4% 39.2% • Subsegment revenue growth 3QFY
Slide 25: KPI – Agri Business
KPI – Agri Business KPIs FY23 FY24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Volume growth (%YoY): CPO Production -22% -7% 20% 26% 50% 9% -1% Milk Production -19% 5% 9% 5% 19% 4% 5% Price growth (% YoY): Average palm oil 70% 41% -1% 14% -17% -28% -4% price Average milk price 57% 78% 87% 68% 29% 15% 3%
Slide 26: Palm Oil Settlement Price and Milk Price
MALAYSIAN RINGGITS - RM 3500 3700 3900 4100 3100 3300 4300 4500 Source: Malaysian contract price Palm Oil Settlement Price (RM) 100.00 150.00 200.00 250.00 300.00 50.00 0.00 June-20 September-20 December-20 March-21 June-21 September-21 December-21 March-22 June-22 September-22 WDL's Avg Milk Price
Slide 27: Q&A
Q&A
Slide 28: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements that are based on management’s current expectations and assumptions. Forward-looking statements include predictions of future results or activities and may contain the words “expects,” “believes,” “should,” “will,” “ant
Slide 29: Thank you!
Thank you! For more information, Please visit our Investor Relations page https://www.sunshineholdings.lk/investor/financial-reports