Hindustan Unilever Limited · NSE:HINDUNILVR
Hindustan Unilever — Q2 2003 Earnings Presentation
63 slides from Hindustan Unilever's earnings presentation, Jul 31, 2003
Slide 1: Financial results JQ'03 and FH'03
Financial results JQ’03 and FH’03 Analysts Meet Mumbai 31st July, 2003
Slide 2: Contents
Contents JQ’03/FH’03 Highlights Business Performance Financials Analysts Meet Mumbai 31st July, 2003
Slide 3: JQ 2003 Results Highlights
JQ 2003 Results Highlights • Overall sales growth picks momentum (3% growth) •Continuing businesses grow by 3.5% •April transporters’ strike impacts growth. • Domestic FMCG businesses grow by 2.1% • HPC sustains growth(+3.5%) in a declining market(-4.5%) •HPC power brands grow by 4.6% • Strong growt
Slide 4: JQ 2003 Results Highlights
JQ 2003 Results Highlights • Operating Profits (PBIT) improves by 8.9% • PBIT Margin Expansion of 102 bps • Profit Before Tax grows by 10.2% • Profit After Tax (before exceptionals) grows by 12.6% Analysts Meet Mumbai 31st July, 2003
Slide 5: Total Sales
Total Sales Growth Momentum Picks up 5.0 Growth % 3.0 1.2 0.0 MQ 02 JQ 02 SQ 02 DQ 02 MQ 03 JQ 03 -2.3 -5.0 -7.2 Total HLL Sales -8.8 -8.4 -10.0 Truckers’ strike impacts sales in JQ’03 Analysts Meet Mumbai 31st July, 2003
Slide 6: Transporters' Strike
Transporters’ Strike Impact • 10 Day nation wide strike from 14th April to 23rd April • Maharashtra strike longer from 1st April for a month • Supply Chain disruption in distributive, wholesale and retail trade • Leading to loss of off take • Recovery in backend supply chain longer More pronounced i
Slide 7: FMCG Sales
FMCG Sales Growth Momentum Picks up Growth % 2.6 2.1 1.4 1.0 -0.2 MQ 02 JQ 02 SQ 02 DQ 02 MQ 03 JQ 03 -0.9 FMCG Sales -4.0 -3.9 Analysts Meet Mumbai 31st July, 2003
Slide 8: HPC Sales
HPC Sales Sustained growth in a declining market 8 Growth % 6.1 6 5.6 5.3 4.9 4 3.5 2 -0.3 0 MQ 02 JQ 02 SQ 02 DQ 02 MQ 03 JQ'03 -2 -1.8 -2 -2.4 -4 -4.5 -4.8 -6 HPC- HLL Sales -6.3 -8 HPC - Market Growth Five consecutive quarters of growth Analysts Meet Mumbai 31st July, 2003
Slide 9: HPC Power Brands Drive Growth
HPC Power Brands Drive Growth 10.0 Growth % 8.2 8.0 6.1 6.3 6.1 6.0 5.6 5.3 4.9 4.6 4.1 4.0 3.5 2.0 0.0 MQ 02 JQ 02 SQ 02 DQ 02 MQ 03 JQ'03 -2.0 -1.8 -4.0 HPC- HLL Sales Growth -4.0 HPC- Power Brands Growth -6.0 Analysts Meet Mumbai 31st July, 2003
Slide 10: HPC Power Brands delivering strong growth - JQ'03
HPC Power Brands delivering strong growth - JQ’03 Lakme : 53% Lifebuoy : 31% FAL : 9% Vim : 7% Ponds : 23% Sunsilk : 8% Nihar : 10% Lux : 10% * Group Basis Analysts Meet Mumbai 31st July, 2003
Slide 11: Winning against Low Price Competition
Winning against Low Price Competition • Build “Differentiation” through superior consumer understanding • Leverage “Technology” • Protect consumer franchise by aggressively building volumes; occupy all relevant price points • Leverage scale to manage cost Analysts Meet Mumbai 31st July, 2003
Slide 12: Winning the Personal Wash Battle
Winning the Personal Wash Battle 15.8 16 150 24 HLL - Discount 20 141 22.2 23.1 140 21.8 22.4 141 22 18 14 127 13.7 130 20 16 19.4 12.7 13.1 120 12 12.1 18 14 13.5 110 13.3 Nirma 16 12 12.5 11.0 10 100 100 100 11.3 14 10 2000 2001 2002 MQ'03 JQ'03 2000 2001 2002 MQ'03 JQ'03 Lifebuoy/Active Lifebuoy
Slide 13: Toothpaste… Countering low price competition
Toothpaste… Countering low price competition 10.0 17 7 5.4 5.0 Pepsodent 0.0 5.9 16.3 FH '02 SH '02 FH '03 16 15.8 6 -5.0 15.5 -10.0 -8.6 -11.1 5.2 5.6 -9.9 -11.8 Anchor 15 -15.0 DQ'02 MQ'03 JQ'03 -20.0 -19.1 Pepsodent Anchor Toothpaste Market Growth HLL Market DQ'02 MQ'03 JQ'03 -25.0 Shares 33.2 34
Slide 14: Shampoos… Turn around
Shampoos… Turn around 41.0 8 6.7 40.0 35.0 6 4.0 30.0 27.4 4 25.0 2 20.0 (9) (5.2) (1.0) (5.2) 15.0 0 10.0 FY'02 MQ'02 JQ'02 (0.7) -2 5.0 0.0 -4 FY’'02 MQ'03 JQ'03 (5.0) Shampoo UVG -6 (10.0) Shampoo Market Growth -8 56 HLL Shampoo Sales Growth 55.4 17 HLL 55 15 54.5 54.9 13 53.8 54 10.7 10.5 Chik 9
Slide 15: Beverages
Beverages Good improvement in sales performance Growth % (0.2) 0.0 0.0 FY 02 MQ 03 JQ 03 FY'02 MQ'03 JQ'03 -2.7 -5.0 -10.0 (5.0) (5.4) -13.3 -15.0 -14.7 -20.0 Beverages Sales Growth (10.0) Beverages UVG (10.5) Analysts Meet Mumbai 31st July, 2003
Slide 16: Processed Foods - Continue to grow
Processed Foods- Continue to grow 25.0 Growth % 20.7 20.0 15.0 10.0 7.0 5.0 - FY'02 MQ'03 JQ'03 (5.0) (6.7) (10.0) Processed Foods Sales Growth Healthy growth trend after profitability improvement * Processed Foods excludes Edible Oils and Fats business Analysts Meet Mumbai 31st July, 2003
Slide 17: Strong growth in Foods Power Brands
Strong growth in Foods Power Brands Strategy delivers results Growth % 23.7 10.0 25.0 7.8 20.0 5.0 15.0 10.9 1.2 10.0 - 5.0 FY'02 MQ'03 JQ'03 - FY'02 MQ'03 JQ'03 (5.0) (5.0) (10.0) (10.0) (8.6) (15.0) Power Brand Beverages (13.8) Power Brand Processed Foods 8.3 5.0 1.2 - FY'02 MQ'03 JQ'03 (5.0) (10.
Slide 18: Foods Power Brands delivering strong growth - JQ'03
Foods Power Brands delivering strong growth - JQ’03 Bru : 16% Red Label : 5% Taaza : 12% 3 Roses : 9% Annapurna : 26% Kissan : 24% * Group Basis Analysts Meet Mumbai 31st July, 2003
Slide 19: Exports Strategy delivering results
Exports Strategy delivering results Growth % 15.2 15.0 15.0 10.0 4.6 5.3 5.0 FY 02 0.0 10.0 MQ 03 JQ 03 7.7 -5.0 -10.0 5.0 -15.0 -20.0 1.0 -25.0 0.0 -30.0 -28.3 FY 02 MQ 03 JQ 03 Exports Continuing Exports Core Value added portfolio drives growth Analysts Meet Mumbai 31st July, 2003
Slide 20: Strategy Update
Strategy Update Grow HPC profitably - Power Brands grow by 4.6% 4 Make Foods Fit for growth - Power Brands grow by 8.3% 4 Focus on core exports - Continuing exports grow by 7.7% 4 * Foods Power Brands exclude Edible Oils and Fats business Analysts Meet Mumbai 31st July, 2003
Slide 21: FH 2003 Results Highlights
FH 2003 Results Highlights • Overall sales grows by 2.2%, Continuing businesses grow by 3.2% • HPC FMCG grows by 4.5% with power brands growing by 6.2% • Good improvement in foods sales performance • Sales impacted by – Uncertainty in VAT implementation – Truckers’ strike • Operating profit improves
Slide 22: HPC Performance
HPC Performance Growth % SH 2002 FH 2003 8 SH 2002 6.2 5.5 6 5.4 5.3 FH 2003 FH 2002 4.6 4 4.5 2 1.4 1.3 FH 2002 0 1.9 -2 -1.3 -4 -3.3 Total HPC * Market growth rates as per ORG New Panel -6 -5.5 HPC MARKET HLL GROUP HPC GROUP POWER BRANDS “HPC sustains growth momentum” “HPC Category and Power Brand
Slide 23: HPC Power Brands delivering strong growth - FH'03
HPC Power Brands delivering strong growth - FH’03 Lakme : 53% Lifebuoy : 33% Ponds : 22% FAL : 16% Pepsodent : 15% Nihar : 11% Sunsilk : 6% Lux : 7% * Group Basis Analysts Meet Mumbai 31st July, 2003
Slide 24: Strong growth in Foods Power Brands
Strong growth in Foods Power Brands Strategy shows results 10.0 25.0 20.0 17.6 4.3 15.0 5.0 10.0 - 5.0 FH’02 SH’02 FH’03 - FH’02 SH’02 FH’03 (5.0) (5.0) (10.0) (7.5) (10.0) (15.0) (11.6) (9.8) (16.1) (20.0) Power Brands Beverages Power Brand Processed Foods 4.7 5.0 - FH’02 SH’02 FH’03 (5.0) (10.0) (
Slide 25: Foods Power Brands delivering strong growth - FH'03
Foods Power Brands delivering strong growth - FH’03 Bru : 17% Taaza : 11% 3 Roses : 10% Annapurna : 26% Kissan : 11% * Group Basis Analysts Meet Mumbai 31st July, 2003
Slide 26: Contents
Contents JQ’03/FH’03 Highlights Business Performance Financials Analysts Meet Mumbai 31st July, 2003
Slide 27: Soaps & Detergents Performance Highlights
Soaps & Detergents Performance Highlights • Innovation led growth in Personal wash – Strong growth inspite of truckers’ strike – Growth momentum in Lux and Lifebuoy sustained – Slew of launches/relaunches in the category • Laundry Market impacted adversely with continued downtrading. – Pressure on t
Slide 28: Personal Wash... Innovation led growth
Personal Wash... Innovation led growth 15 13.1 11.1 11.3 10 8.8 8.1 5 1.4 -7.7 -2.3 0.3 0 MQ 02 JQ 02 SQ 02 DQ 02 MQ 03 JQ'03 -3.1 -5 -4.3 -10 PW Market Growth HLL PW sales Growth -12.9 -15 Analysts Meet Mumbai 31st July, 2003
Slide 29: Lifebuoy Excellent innovation led performance
Lifebuoy Excellent innovation led performance 40.0 36.3 18 35.4 35.6 35.0 17.6 17.5 30.0 26.6 31.3 25.0 17 16.8 20.0 16.7 16.8 16.5 15.0 16 10.0 15.5 5.0 15.8 15.5 MQ 02 0.0 JQ 02 SQ 02 DQ 02 MQ 03 JQ 03 15 -5.0 -3.7 -10.0 14.5 Lifebuoy Growth Lifebuoy Market Shares • Strong double digit growth for
Slide 30: Lux Excellent innovation led performance
Lux Excellent innovation led performance 19.6 20.0 18.0 18.0 17.4 17.3 17.5 16.0 14.0 17.1 16.9 16.8 17.0 12.0 10.0 10.1 10.0 16.4 16.5 10.8 8.0 16.0 16.0 6.0 4.0 2.7 15.5 2.0 0.0 15.0 MQ 02 JQ 02 SQ 02 DQ 02 MQ 03 JQ 03 Lux Growth Lux Market Shares Analysts Meet Mumbai 31st July, 2003
Slide 31: Personal Products Performance Highlights
Personal Products Performance Highlights • Growth sustained in JQ’03 – Growth led by Skin, Talc, Hair Oil and Shampoos • Strong double digit growth in Skin for 5 consecutive quarters – FAL, Lakme and Ponds show high growths • Oral performance better than market decline – Value proposition redefined
Slide 32: PP shows strong growth for the second consecutive quarter
PP shows strong growth for the second consecutive quarter ... 20.0 15.9 15.0 10.0 8.1 5.0 1.1 0.0 FY 02 MQ 03 JQ 03 Personal Products MQ’03 growth sustained Analysts Meet Mumbai 31st July, 2003
Slide 33: Skin - Consistently beating the market
Skin-Consistently beating the market Backed by volume growth 60.0 50.0 48.6 40.0 30.0 24.0 21.8 19.0 20.0 14.3 9.1 10.0 7.7 4.9 3.5 2.2 -1.3 0.0 MQ 02 JQ 02 SQ 02 DQ 02 MQ 03 JQ'03 -5.7 Skin Market Growth HLL Skin Sales Growth -10.0 Strong growth for six consecuative quarters Double digit growth for
Slide 34: Skin Power Brands Surge ahead..
Skin Power Brands Surge ahead.. 30.0 53.3 53.1 26.1 50.0 25.0 40.0 20.0 18.6 30.0 15.0 10.0 8.8 20.0 5.0 10.0 0.1 0.0 0.0 FY 02 MQ 03 JQ 03 FY 02 MQ 03 JQ 03 FAIR & LOVELY LAKME 25.0 23.0 21.1 20.0 15.0 10.0 5.0 1.0 0.0 FY 02 MQ 03 JQ 03 PONDS Analysts Meet Mumbai 31st July, 2003
Slide 35: HPC category performance Vs Markets JQ'03 & FH'03
HPC category performance Vs Markets JQ’03 & FH’03 % Growth JQ 2003 JQ 2003 FH 2003 FH 2003 Market Growth HLL Group Market Growth HLL Group Personal Wash -4.3 8.1 4 -1.6 8.4 4 Fabric Wash -6.4 -4.9 -4.6 -3.3 Dishwash -2.7 8.3 4 -2.9 -9.4 Toothpaste -12.2 -3.1 4 -11.8 5.7 4 Shampoo -5.2 3.8 4 -5.2 1.3
Slide 36: Beverages Core Portfolio Strengthened
Beverages Core Portfolio Strengthened • Good improvement in beverages sales performance • Power Brands 3 Roses, Red Label and Taaza grow well • Master Brand “BROOKE BOND” launched • Bru delivers strong growth for 6 consecutive quarters • Leveraging new opportunities – ‘OOH” channel – Lipton Ice Tea
Slide 37: Brooke Bond "Cheers your senses"
Brooke Bond “Cheers your senses” • Brooke Bond to be a Rs. 1000 Cr Mega Brand • Why Brooke Bond? – Leveraging the powerful equity of Brooke Bond • What is Changing? – A new identity for Brooke Bond – Rejuvenation of the entire tea portfolio with Brooke Bond as the master-brand • New & modern packagi
Slide 38: Tea… Power Brands deliver growth
Tea… Power Brands deliver growth 5.4 5.0 15.0 12.3 10.5 10.0 0.0 FY 02 MQ 03 JQ 03 5.0 -5.0 0.0 FY 02 MQ 03 JQ 03 -5.0 -10.0 -8.7 -10.0 -12.8 RED LABEL TAAZA -15.0 -15.0 -15.6 10.0 10.0 9.0 5.0 0.0 FY 02 MQ 03 JQ 03 -5.0 3 ROSES -5.0 Analysts Meet Mumbai 31st July, 2003
Slide 39: Bru… Excellent performance for six quarters
Bru… Excellent performance for six quarters 17.5 64.2 15.6 65 60 15.0 55 50 44.8 10.7 45 40 10.0 35 30 25 20 16.8 5.0 15 10 5 0 0.0 FY'02 MQ'03 JQ'03 FY 02 MQ 03 JQ 03 UVG SALES GROWTH BRU Growth momentum maintained Strong double digit growth in JQ’03 on a high base Analysts Meet Mumbai 31st July, 2
Slide 40: Processed foods
Processed foods On Growth Path... • Popular Foods shows strong double digit growth in both quarters of 2003 • CPD grows by 18.5%in JQ’03 backed by strong UVG • Wide assortment of consumer exciting innovations Analysts Meet Mumbai 31st July, 2003
Slide 41: Culinary Products…
Culinary Products… Volume growth momentum sustained 30.0 10.0 25.0 9.2 5.0 18.5 5.0 20.0 15.0 0.0 10.0 7.6 FY'02 MQ'03 JQ'03 5.0 (5.0) 0.0 FY 02 MQ ‘03 JQ 03 -5.0 -2.9 (10.0) -10.0 CPD Sales (13.8) CPD UVG -15.0 (15.0) Analysts Meet Mumbai 31st July, 2003
Slide 42: Popular Foods…
Popular Foods… Strong Growths in 2003 backed by UVG 30.0 30.0 28.3 25.0 23.2 25.0 20.0 17.7 20.0 22.3 15.0 15.0 10.0 10.0 5.0 5.0 0.0 0.0 FY'02 MQ'03 JQ'03 FY 02 MQ’03 JQ ‘03 (5.0) -5.0 (10.0) -10.0 (15.0) -15.0 (20.0) -20.0 -16.9 Popular Foods Sales Popular Foods UVG (25.0) (25.8) -25.0 (30.0) Anal
Slide 43: Ice Creams
Ice Creams 0.0 FY 02 MQ 03 JQ 03 -5.0 -10.0 -10.6 -15.0 -20.0 Ice Cream Sales -25.0 -25.0 -26.1 Ice Cream sales impacted due to truckers’ strike in summer Analysts Meet Mumbai 31st July, 2003
Slide 44: Foods category performance Vs Markets - JQ & FH'03
Foods category performance Vs Markets - JQ & FH’03 % Growth JQ 2003 JQ 2003 FH 2003 FH 2003 Market Growth HLL Group Market Growth HLL Group Packet Tea -12.7 -3.0 4 -14.1 -10.3 4 Coffee -15.5 -1.3 4 -14.8 -3.4 4 Culinary Ketchup -7.5 5.0 4 -6.6 -3.8 4 Jams -10.6 -0.3 4 -4.0 -3.0 Salt -1.4 18.2 4 -0.9
Slide 45: HLL - Network
HLL - Network • Aviance relaunched as HLL Network - Jan’03 • Portfolio widened – Products added: • Lever home range • Male grooming • Reach - 1068 towns • 1.15 L consultants in July’03 to grow to 1 mn by 2007 Sales increases 3 fold Analysts Meet Mumbai 31st July, 2003
Slide 46: Contents
Contents JQ’03/FH’03 Highlights Business Performance Financials Analysts Meet Mumbai 31st July, 2003
Slide 47: JQ 2003 Sales Summary
JQ 2003 Sales Summary Rs Crores JQ 2002 JQ 2003 Growth % Domestic FMCG 2269 2317 2.1 - HPC 1747 1809 3.5 - Foods 522 508 (2.6) Exports 299 322 7.7 Others 35 55 55.0 CONTINUING BUSINESSES 2603 2693 3.5 Disposals / Discontinued 11 0 NET SALES 2614 2693 3.0 Analysts Meet Mumbai 31st July, 2003
Slide 48: JQ 2003 Results
JQ 2003 Results Rs Crores JQ 2002 JQ 2003 Growth % EBIT 465 506 8.9% Fin Income (net) 55 66 20.4% PBT 520 573 10.2% Tax ( incl Deferred ) 119 122 2.0% PAT ( bei ) 400 451 12.6% Analysts Meet Mumbai 31st July, 2003
Slide 49: Cash Flow JQ'03
Cash Flow JQ’03 Operating cash flow increases by 26% Rs Crores JQ 02 JQ 03 Business Operation 533 538 WC Reduction 196 349 Treasury income 37 69 Total Cash Generated 766 956 Capex 45 44 Tax paid 8 8 Dividend paid 550 660 Total Cash Deployed 603 712 Surplus Cash Generated 163 244 Acquisition / dispos
Slide 50: Segmental Revenue
Segmental Revenue Rs Crores JQ'03 % Grow th Soaps and Detergents 1,216 1.5 Personal Products 602 7.3 Beverage 287 (3.4) Processed Foods 177 0.5 Ice Cream 36 (11.0) Exports 322 5.3 Others 77 (15.3) Total 2,716 1.8 Less: Inter Segment Revenue (8) (69.6) Net Segm ent Revenue 2,708 2.5 Analysts Meet Mum
Slide 51: Segmental Results
Segmental Results Rs Crores JQ'03 % Grow th Soaps and Detergents 288 1.2 Personal Products 214 15.5 Beverage 55 (7.8) Processed Foods 5 152.1 Ice Cream 2 (50.8) Exports 15 (35.5) Others (6) Total 573 3.7 Less : Interest (1) 46.7 Add : Unallocable net income 1 Net Segm ent Result 573 10.2 Analysts Me
Slide 52: Segment Margins
Segment Margins 45 40 35.6 35 33.1 30 23.8 23.7 25 20.0 19.0 20.7 21.1 20 15 10 7.4 4.6 5 0 -5.2 2.7 -5 Detergents PP Beverages Foods Exports Overall -10 JQ 2002 JQ 2003 Analysts Meet Mumbai 31st July, 2003
Slide 53: Improved HPC Margins
Improved HPC Margins Soaps and Detergents Personal Products HPC 24.0% 23.8% 23.7% 36.0% 35.6% 28.0% 27.6% 23.5% 27.5% 35.0% 23.0% 27.0% 26.7% 34.0% 22.5% 26.5% 33.1% 33.0% 26.0% 22.0% 21.8% 32.4% 25.5% 32.0% 25.5% 21.5% 25.0% 21.0% 31.0% 24.5% 20.5% 24.0% JQ'02 MQ'03 JQ'03 30.0% JQ'02 MQ'03 JQ'03 JQ
Slide 54: FH'03 Sales Summary
FH’03 Sales Summary Rs Crores FH 2002 FH 2003 Growth % Domestic FMCG 4254 4329 1.8 - HPC 3187 3329 4.5 - Foods 1067 1000 (6.3) Exports 573 637 11.3 Others 77 95 22.7 CONTINUING BUSINESSES 4904 5061 3.2 Disposals / Discontinued 49 NET SALES 4953 5061 2.2 Analysts Meet Mumbai 31st July, 2003
Slide 55: FH 2003 Results
FH 2003 Results Rs Crores FH 2002 FH 2003 Growth % EBIT 846 922 9.0% Fin Income (net) 125 150 19.5% PBT 971 1072 10.4% Tax ( incl Deferred ) 217 238 9.8% PAT ( bei ) 754 834 10.5% Exceptional Item 122 - Net Profit 876 834 -4.8% Analysts Meet Mumbai 31st July, 2003
Slide 56: Cash Flow FH'03
Cash Flow FH’03 Rs Crores FH 02 FH 03 Business Operation 929 978 WC Reduction 132 249 Treasury income 103 166 Total Cash Generated 1164 1393 Capex 102 109 Tax paid 144 209 Dividend paid 550 660 Total Cash Deployed 796 978 Surplus Cash Generated 368 415 Acquisition / disposal 171 (29) Special Dividen
Slide 57: Segmental Revenue
Segmental Revenue Rs Crores FH'03 % Grow th Soaps and Detergents 2,218 1.3 Personal Products 1,133 11.5 Beverage 582 (9.6) Processed Foods 344 2.0 Ice Cream 56 (16.3) Exports 637 4.9 Others 148 (15.8) Total 5,118 1.6 Less: Inter Segment Revenue (21) (51.8) Net Segm ent Revenue 5,097 2.1 Analysts Mee
Slide 58: Segmental Results
Segmental Results Rs Crores FH'03 % Grow th Soaps and Detergents 507 (1.0) Personal Products 386 14.3 Beverage 117 (2.2) Processed Foods 0.5 Ice Cream 10 Exports 35 (23.7) Others (3) (31.6) Total 1,051 5.9 Less : Interest (3) (47.9) Add : Unallocable net income 24 (251.1) Net Segm ent Result 1,072 1
Slide 59: Segment Margins
Segment Margins 45 40 35 33.3 34.1 30 25 23.4 22.9 18.5 20.1 19.9 20.6 20 15 10 7.5 5.5 5 0 -4.4 -5 Detergents PP Beverages Foods -0.1 Exports Overall -10 FH 2002 FH 2003 Analysts Meet Mumbai 31st July, 2003
Slide 60: EBITDA Margin Progression
EBITDA Margin Progression % Sales 22 20 18 16 14 12 Rolling 12-month EBITDA Margins 10 2000 2001 2002 2003 8 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 96 97 98 99 19 19 19 19 Analysts Meet Mumbai 31st July, 2003
Slide 61: Group Results
Group Results FH 2002 FH 2003 % Change Sales 5252 5393 2.7 Continuing Businesses 5232 5393 3.1 Operating Profits 828 922 11.4 PBT 949 1029 8.5 PAT bei 727 784 7.8 Analysts Meet Mumbai 31st July, 2003
Slide 62: In Summary...
In Summary... • Sales strongly on growth path •Power brand strategy delivers in a declining market •Strong growth in Beverages and Processed Foods Power Brands •Sales impacted by April transporter’s strike • Profitable growth in foods • Strong Exports growth continues Growth Strategy firmly on Cours
Slide 63: Thank You
Thank You Analysts Meet Mumbai 31st July, 2003