Pt Cisarua Mountain Dairy Tbk · IDX:CMRY
Pt Cisarua Mountain Dairy Tbk — H1 2024 Earnings Presentation
24 slides from Pt Cisarua Mountain Dairy Tbk's earnings presentation, July 2024
Slide 1: PT Cisarua Mountain Dairy Tbk 1H 2024 Results Presentation
PT Cisarua Mountain Dairy Tbk 1H 2024 Results Presentation July 2024
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 Axel Sutantio Bharat Joshi President Director Director Director Group Chief Executive Officer MP Chief Executive Officer Chief Financial Officer & Investor Relations
Slide 4: Agenda
Agenda 1 Financial Results 4 2 Operational Performance 15 3 Key Takeaways 20 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 ◼ Continued YoY expansion of Total Net Sales, primarily driven by healthy 7,773 6,378 growth in both Premium Consumer Foods and UHT Milk. 4,096 4,415 3,777 FY21A FY22A FY23A 6M23 6M24 Premium Dairy Net Sales (Rp bn) Pr
Slide 7: Gross profit
Gross profit Cost of Sales % Net Sales (Rp bn) Commentary Raw Materials & Packaging Others ◼ Benefited from reduced raw material costs, while also eliminated previous year costly 58.2% 58.4% 59.2% inventory reserves. 55.3% 51.8% 8.6% 8.4% 9.5% ◼ Increase in Other Cost of Sales partially 7.7% 11.6% a
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: Cimory Yoghurt Stick: Driving Category Sales and Boosting Consumption Frequency
Cimory Yoghurt Stick: Driving Category Sales and Boosting Consumption Frequency Yoghurt Stick Campaign Jakarta Fair 2024 ▪ Launched new flavored extension: Brown Sugar and Peach. ▪ The Fair leveraged our strong brand activation, ▪ Emphasize the product’s affordability and appeal to all age groups, r
Slide 10: #SusuBanyakRasa Campaign: Continuously Boosting Brand Awareness for UHT milk products
#SusuBanyakRasa Campaign: Continuously Boosting Brand Awareness for UHT milk products
Slide 11: Crispy Nugget Spicy launch & Collaboration with Cupbob (K-Pop Crispy Stick)
Crispy Nugget Spicy launch & Collaboration with Cupbob (K-Pop Crispy Stick) Crispy Nugget Spicy Launch Kanzler x Cupbob ▪ Exclusive launch of Crispy Spicy Nuggets at the Jakarta Food Fair ▪ Leveraging the growing K-pop culture in the country received encouraging market response ▪ Offering consumers
Slide 12: General & administrative expenses
General & administrative expenses General & Administrative Expenses (Rp bn) General & Administrative Expenses % Net Sales (Rp bn) Salaries & Allowances Salaries & Allowances Others Others 194 134 117 112 76 89 2.5% 2.5% 79 2.4% 61 2.1% 45 1.9% 35 1.4% 1.5% 1.2% 0.9% 1.2% 77 58 51 44 44 1.2% 1.2% 1.1
Slide 13: Operating & net profit
Operating & net profit Operating Profit & Margin (Rp bn) 25% 20% 1,800 20% 18% 19% 1,600 1,428 10% 1,400 1,256 -10% 1,200 1,007 1,000 874 -30% 800 722 -50% 600 400 -70% 200 0 -90% FY21A FY22A FY23A 6M23 6M24 Net Profit & Margin (Rp bn) Commentary 19% 17% 16% 17% 18% ◼ Strong top-line growth and impr
Slide 14: Quarterly performance
Quarterly performance Volume driven growth 2,247 substantially derived from 2,168 continued performance of consumer foods Net Sales 1,947 2Q23 1Q24 2Q24 60% 1,400 42% 45% 45% 1,200 Gross margins have 40% 970 1,005 improved following 1,000 816 20% Gross Profit 800 normalised raw material prices and b
Slide 15: Balance sheet & cash flows
Balance sheet & cash flows Net Cash (Debt) Position (Rp bn) Dividend per Share (Rp) Commentary Strong balance sheet to support 90 ◼ Strong net cash position to rapid growth strategies continue to drive growth 70 63 initiatives ◼ Well-positioned to continue 3,690 3,690 delivering healthy dividends 4,
Slide 16: Operational Performance
2 Operational Performance
Slide 17: General Trade 4.4 tn and Miss Cimory
Successful execution of our channel penetration strategies, with an emphasis on improving productivity per MCM agent General Trade (“GT”) Sales Force & Distributor Network Outlet Footprint Distributor Partners 8,110 chillers deployed to GT Sales Force Headcount date 400 852 813 795 136,978 900 350 3
Slide 18: We will maintain our focus on investing in channel growth and new product launches
We will maintain our focus on investing in channel growth and new product launches to capture rising consumer demand Flavour Extension Affordable size New Product Yogurt Stick Kanzler Singles Crispy Nugget Spicy Channel Growth Launch of New Products Well-positioned to increase our shelf space ➢ Laun
Slide 19: Growth Strategy
Growth Strategy Organic Topline Growth Volume growth through trialship and repeatability of consumption Market share gains and category Leverage production facilities growth expansion and drive cost efficiencies Investment Continuous marketing investments and channel expansion 18
Slide 20: Growth supported by launch of new products and SKU extensions
Growth supported by launch of new products and SKU extensions Premium Dairy UHT Milk Yoghurt Stick Squeeze Bites Fruitas Jelly Flavour Extensions New Product New Product Flavour Extensions 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Crispy Chicken Crispy Nugget Crispy Nugget Kanzler Nugg
Slide 21: Key Takeaways
Draft 3 Key Takeaways
Slide 22: Key takeaways
Key takeaways 1 Strong 6M24 top-line expansion of 17% YoY, driven primarily by volume-based growth. Consumer Foods exhibited exceptional performance of 30% YoY Net Sales growth in 2 6M24, driven by contributions from all product categories. Sustained Gross Profit Margins following normalizing raw ma
Slide 23: Investors' FAQ
Investors’ FAQ 1 How sustainable are the YoY margin expansion that we generated in 1H 2024? Consumer foods seems to be performing well despite a higher base now, 2 what is the sustainable run rate for this category going forward ? The Dairy division showed softer growth relative to consumer foods, 3
Slide 24: Slide 24
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