Sunshine Holdings Plc · CSELK:SUN.N0000
Sunshine — FY2024 Earnings Presentation
31 slides from Sunshine's earnings presentation, Jun 5, 2024
Slide 1: FY24 Earnings Webinar
FY24 Earnings Webinar Sunshine Holdings PLC 05 June 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 • 03rd May – The International Finance Corporation (IFC), a member of the World Bank Group, has agreed to invest LKR 3,270,000,000/ in Sunshine Healthcare Lanka Limited, a 100% subsidiary of the Company, in the form of equity subject to the performance of agreed conditions pr
Slide 4: Group Performance
Group Performance
Slide 5: Group at a Glance – FY24
Group at a Glance – FY24 Revenue Composition LKR 8.7bn LKR 6.0bn LKR 9.09 Other, 0.2% +23.7% YoY +66.4% YoY +94.6% YoY Agriculture EBIT Earnings EPS 15.0% 5.1% 29.9% 28.7% LKR 38.43 LKR 55.5bn +2.1 pts +9.5 pts +19.8% YoY 50.0% Healthcare 7.0% 16.1% Gearing ROE NBV 34.8% Consumer 1.6% LKR 30.5bn 6.8
Slide 6: Group – Performance Highlights
Group – Performance Highlights (LKR millions) LKR m FY24 FY23 Growth % 4QFY24 4QFY23 Growth % Revenue 55,534 51,887 7.0% 13,148 13,326 -1.3% EBIT 8,662 7,001 23.7% 1,268 1,179 7.5% EBIT margin 15.6% 13.5% 9.6% 8.8% PAT 6,019 3,617 66.4% 570 (162) -451.9% PAT margin 10.8% 7.0% 4.3% -1.2% PATMI 4,471
Slide 7: Movement in Revenue & EBIT
Movement in Revenue & EBIT Revenue Composition – Revenue QoQ 16 14 15% 13% 15% 16% 12 21% 21% 14% Revenue LKR bn 16% 10 34% 36% 41% 37% 34% 8 33% 35% 35% 24% 20% 18% 19% 6 22% 27% 25% 25% 4 51% 51% 51% 50% 44% 44% 47% 44% 2 54% 54% 53% 57% 0 1QFY22 2QFY22 3QFY22 4QFY22 1QFY23 2QFY23 3QFY23 4QFY23 1Q
Slide 8: Healthcare
Healthcare
Slide 9: Healthcare Sector
Healthcare Sector Revenue Split [FY24] Total Asset Split [FY24] Pharma Manufacturing Pharma Manufacturing 9% 15% Retail (Healthguard) 9% Retail (Healthguard) 5% Medical devices 25% Medical devices 20% Pharma+Distribution 62% Pharma+Distribution 55%
Slide 10: Healthcare – Performance Highlights
Healthcare – Performance Highlights (LKR millions) LKR m FY24 FY23 Growth % 4QFY24 4QFY23 Growth % Revenue 27,773 23,924 16.1% 6,736 6,284 7.2% EBIT 4,299 2,973 44.6% 896 884 1.4% EBIT margin 15.5% 12.4% 13.3% 14.1% PAT 2,529 1,209 109.2% 349 384 -9.1% PAT margin 9.1% 5.1% 5.2% 6.1% • In FY24, the E
Slide 11: Sunshine Pharmaceuticals
Sunshine Pharmaceuticals During 4QFY24, • Company and Market had growth at 11+% YoY 60.00% 13.20% 49% 13.1% 50.00% 13.1% 13.1% 13.1% 13.10% 40.00% 30% 29% 13.00% 30.00% 21% 20.00% 18% 12.90% 10.00% 5% 12.80% 12.7% 0.00% Q4FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 12.70% -10.00% -10% -12% 12.60% -20.00% -
Slide 12: Pharmaceuticals – Price Increase Index
Pharmaceuticals – Price Increase Index Dec 2021 considered as the base (i.e., 100) 190 380 370 370 370 370 181 181 180 365 365 365 370 362 362 181 181 181 181 181 181 181 181 181 181 170 360 350 160 336 340 150 16% MRP 152 152 152 152 152 152 152 152 152 152 325 326 330 322 323 324 321 140 319 Reduc
Slide 13: Sunshine Medical Devices
Sunshine Medical Devices • FY24 witnessed a 28.1% YoY revenue growth. Market Dynamics 95% 91% 91% 89% 90% 90% 86% 84% 85% 85% 88% 86% 80% 84% 75% 79% 77% 77% 77% 77% 70% 74% 71% 65% 68% 69% 60% 61% 55% 2QFY23 3QFY23 4QFY23 1QFY24 2QFY24 3QFY24 4QFY24 Hospital Occupancy Lab Tests Operation Theaters
Slide 14: Lina - Pharma Manufacturing
Lina - Pharma Manufacturing • During the FY24, the revenue grew 2.4x reaching LKR 2.4 bn. • Improved capacity utilization in the MDI line (83% - FY24) and Capsule line (50% - FY24)
Slide 15: Healthguard Pharmacy - Retail
Healthguard Pharmacy - Retail Retail Segment Performance • Strong BC growth driven by promotions and improved availability • FY24 Revenue grew by 19% YoY • Revenue improvement in both Pharma and Wellness has helped improve the GP margin FY23 FY24 KPI (YoY) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Same store sales (S
Slide 16: Consumer
Consumer
Slide 17: Consumer Sector
Consumer Sector Revenue Split [FY24] Total Asset Split [1QFY24] Inter co./other 13% Export business 32% Tea 35% Tea 54% Export business 37% Confectionery 14% Confectionery 15%
Slide 18: Consumer Sector – Performance Highlights
Consumer Sector – Performance Highlights (LKR millions) LKR m FY24 FY23 Growth % 4QFY24 4QFY23 Growth % Revenue 19,324 19,011 1.6% 4,492 4,921 -8.7% EBIT 1,874 1,188 57.7% 93 283 -67.1% EBIT margin 9.7% 6.2% 2.1% 5.8% PAT 1,144 523 118.7% 90 25 260.0% PAT margin 5.9% 2.8% 2.0% 0.5% • The consumer se
Slide 19: Consumer Sector – Revenue & Volumes
Consumer Sector – Revenue & Volumes KPIs FY23 FY24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Volume Tea (Local) Revenue growth -4% 10% 41% 84% 93% 77% 31% -8% Volume (Kgs '000) 1,009 974 1,260 1,095 1,053 1,157 1,361 1,201 YoY Growth -21% -26% -16% -10% 4% 19% 8% 10% Confectionary Revenue growth 33% 107% 73% 14% 7% -
Slide 20: Brand Value Market Share (%) – Tea
Brand Value Market Share (%) – Tea 100.0 17 17 18 15 17 15 17 16 18 16 17 16 17 90.0 20 19 20 22 24 23 23 23 26 26 28 28 4 5 80.0 8 7 6 5 6 6 6 8 9 4 5 8 9 10 8 8 9 9 9 70.0 9 9 8 7 60.0 43 40 41 39 43 42 44 41 45 48 45 42 47 50.0 46 47 49 49 46 46 46 45 45 45 40.0 45 46 30.0 20.0 38 37 39 37 35 33
Slide 21: Brand Value Market Share (%) – Confectionary
Brand Value Market Share (%) – Confectionary 100 90 21 22 22 23 23 23 24 23 23 23 23 24 23 22 80 70 26 25 23 22 21 21 22 21 21 26 24 24 22 22 Market Share % 60 50 40 37 35 36 36 37 38 37 35 35 38 36 35 36 36 30 20 10 17 17 17 17 18 18 18 18 18 19 20 19 18 20 0 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-
Slide 22: Price Index – Tea and Confectionary
Price Index – Tea and Confectionary March 2022 considered as the base (i.e., 100) 180 230 170 210 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 214 214 214 160 155 203 201 199 200 200 151 190 193 193 193 150 188 189 191 145 140 179 179 179 170 177 176 14
Slide 23: Sunshine Tea - Exports
Sunshine Tea - Exports 1,200 2500 1,000 2000 800 Export Revenue Export Qty 1500 600 1000 400 500 200 - 0 1QFY23 2QFY23 3QFY23 4QFY23 1QFY24 2QFY24 3QFY24 4QFY24 Axis Title Export Quantity ('000 Kg) - RHS Export Revenue (LKR million) - LHS • The revenue contracted 5.5% YoY mainly due to the adverse v
Slide 24: Agribusiness
Agribusiness
Slide 25: Agri Sector
Agri Sector Revenue Split [FY24] Total Asset Split [FY24] Inter co./Other Dairy 9% 17% Dairy 28% Palm Oil 63% Palm Oil 83%
Slide 26: Agribusiness – Performance Highlights
Agribusiness – Performance Highlights (LKR millions) LKR m FY24 FY23 Growth % 4QFY24 4QFY23 Growth % Revenue 8,321 8,768 -5.1% 1,838 2,119 -13.3% EBIT 2,661 2,931 -9.2% 337 174 93.7% EBIT margin 32.0% 33.4% 18.3% 8.2% PAT 2,345 2,332 0.6% 142 (323) -144.0% PAT margin 28.2% 26.6% 7.7% -15.2% • Subseg
Slide 27: KPI – Agri Business
KPI – Agri Business KPIs FY23 FY24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Volume growth (%YoY): CPO Production -22% -7% 20% 26% 50% 9% -1% -4% Milk Production -19% 5% 9% 5% 19% 4% 5% 10% Price growth (% YoY): Average palm oil 70% 41% -1% 14% -17% -28% -4% -12% price Average milk 57% 78% 87% 68% 29% 15% 3% 4% price
Slide 28: Palm Oil and Milk Prices
MALAYSIAN RINGGITS – RM - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 1/3/2022 2/3/2022 3/3/2022 4/3/2022 5/3/2022 6/3/2022 7/3/2022 8/3/2022 Source: Malaysian contract price 9/3/2022 10/3/2022 11/3/2022 12/3/2022 Palm Oil 1/3/2023 2/3/2023 3/3/2023 4/3/2023 5/3/2023 6/3/2023 7/3/2023 8/3/
Slide 29: Q&A
Q&A
Slide 30: 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 31: Thank you!
Thank you! For more information, Please visit our Investor Relations page https://www.sunshineholdings.lk/investor/financial-reports