Pt Cisarua Mountain Dairy Tbk · IDX:CMRY
Pt Cisarua Mountain Dairy Tbk — 9M 2024 Earnings Presentation
25 slides from Pt Cisarua Mountain Dairy Tbk's earnings presentation, October 2024
Slide 1: PT Cisarua Mountain Dairy Tbk 9M 2024 Results Presentation
PT Cisarua Mountain Dairy Tbk 9M 2024 Results Presentation October 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
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 6,637 growth in both Premium Consumer 5,742 Foods and UHT Milk. 4,096 FY21A FY22A FY23A 9M23 9M24 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% 58.6% inventory reserves. 55.0% 51.8% 8.6% 8.4% 8.8% ◼ Increase in Other Cost of Sales partially 9.8% attribu
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: New Product Launch: Cimory Yoghurt Squeeze Bites
New Product Launch: Cimory Yoghurt Squeeze Bites 8
Slide 10: New Product Launch: Crispy Nugget Spicy
New Product Launch: Crispy Nugget Spicy 9
Slide 11: Kanzler: Visualizing Our Healthy Brand Presence
Kanzler : Visualizing Our Healthy Brand Presence 10
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 194 163 134 134 117 84 76 70 79 2.5% 2.5% 2.3% 2.1% 1.9% 35 1.3% 1.5% 1.2% 0.9% 1.2% 77 79 58 64 44 1.2% 1.1% 0.
Slide 13: Operating & net profit
Operating & net profit Operating Profit & Margin (Rp bn) 25% 21% 1,800 20% 18% 20% 1,600 1,428 1,370 10% 1,400 1,256 1,200 1,121 -10% 1,007 1,000 -30% 800 -50% 600 400 -70% 200 0 -90% FY21A FY22A FY23A 9M23 9M24 Net Profit & Margin (Rp bn) Commentary 19% 17% 16% 17% 17% ◼ Strong topline growth, and
Slide 14: Quarterly performance
Quarterly performance 3Q is typically a soft 2,252 2,221 quarter but nevertheless, healthy volumes YoY Net Sales 1,964 3Q23 2Q24 3Q24 60% 1,400 42% 45% 45% 1,200 Gross margins have improved following 40% 1,005 1,010 833 normalised raw material 1,000 20% Gross Profit 800 prices & Margin 600 0% 400 -2
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 3,704 3,704 delivering healthy dividends 4,
Slide 16: Operational Performance
2 Operational Performance
Slide 17: General Trade (GT) and Miss Cimory (MCM)
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 GT Sales Force Headcount 852 924 400 813 900 160,111 350 General Trade 300 505 700 120,564
Slide 18: Relatively Stable Raw Material Prices
Relatively Stable Raw Material Prices Premium Dairy Premium Consumer Foods Whole Milk Powder Prices (US$/MT)1 Annual Average Beef Purchase Price (US$/MT)2 6 months 7,000 supply of milk 7,000 5,766 powder & raw 6,000 6,000 5,314 beef purchased in 4,596 4,781 4,618 5,000 5,000 advance 4,000 3,246 3,44
Slide 19: 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 New Product Affordable size New Product Squeeze Bites Kanzler Singles Crispy Nugget Spicy Channel Growth Launch of New Products Well-positioned to increase our shelf space ➢ Launch of
Slide 20: 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 21: 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 22: Key Takeaways
Draft 3 Key Takeaways
Slide 23: Key takeaways
Key takeaways 1 Strong 9M24 top-line expansion of 16% YoY, driven primarily by volume-based growth. Consumer Foods exhibited exceptional performance of 26% YoY Net Sales growth in 2 9M24, driven by contributions from all product categories. Sustained Gross Profit Margins following normalizing raw ma
Slide 24: Investors' FAQ
Investors’ FAQ The dairy segment has started to show a modest recovery, what are the plans here to drive further 1 growth ? Consumer foods seems to be performing well despite a higher base now, what are the future 2 growth drivers and how has competition been in the category ? The call for a sugar t
Slide 25: Slide 25
PT Cisarua Mountain Dairy — 9M 2024 Earnings Presentation on 6ix