Mewah International Inc. · SGX:MV4
Mewah International — Q2 2017 Earnings Presentation
22 slides from Mewah International's earnings presentation, Aug 11, 2017
Slide 1: Q2 2017 & H1 2017 Financial Results Summary
11th August, 2017 Creating Synergy Delivering Value Q2 2017 & H1 2017 Financial Results Summary Mewah International Inc.
Slide 2: Notice
Notice This presentation should be read in conjunction with Mewah International Inc.’s Unaudited Financial Statements for the Second Quarter and Half Year Ended 30 Jun 2017 lodged on the SGXNET on 11th Aug, 2017. 2
Slide 3: Performance Summary
Performance Summary In US$ million Net Profit* Q2 2017 3.1 Q2 2016 1.9 YOY Change 63.4% Q1 2017 4.0 QOQ Change -22.5% H1 2017 7.1 H1 2016 4.8 YOY Change 46.7% * Profit after tax attributable to equity holders of the Company 3
Slide 4: Performance Summary
Performance Summary Sales volume Revenue In MT’000 In US$ million 2016 2016 834.4 2017 2017 1,094.1 1,123.2 1,075.5 737.6 757.0 740.0 711.4 727.9 881.6 926.0 930.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Operating margin per MT Net profit In US$ 2016 In US$ million 2016 2017 10.5 2017 41.5 42.7 36.6 30.2 26.8 23.1
Slide 5: Income Statement | Q2 2017 & H1 2017
Income Statement | Q2 2017 & H1 2017 In US$ million, unless stated otherwise Q2 2017 Q2 2016 % change Q1 2017 % change H1 2017 H1 2016 % change Sales volume (MT'000) 926.0 1,123.2 -17.6% 881.6 5.0% 1,807.6 2,217.3 -18.5% ASP (US$) 796.5 742.8 7.2% 825.7 -3.5% 810.7 697.1 16.3% Revenue 737.6 834.4 -1
Slide 6: Income Statement | CPO prices vs. OM per MT
Income Statement | CPO prices vs. OM per MT CPO Price (MYR) 3,500 800 CPO Price (US$) Operating Margin (%) 700 3,000 600 CPO Prices - Ringgit Malaysia (RM) 2,500 5.4% 5.2% 5.2% 500 2,000 CPO Prices - US$ 400 3.7% 3.5% 3.6% 1,500 300 1,000 42.7 41.5 200 36.6 30.2 23.1 26.8 500 100 - - Q1 2016 Q2 2016
Slide 7: Segmental Performance | Q2 2017 & H1 2017
Segmental Performance | Q2 2017 & H1 2017 YOY QOQ YOY Q2 2017 Q2 2016 Change Q1 2017 Change H1 2017 H1 2016 Change Bulk segment Sales volume (MT’000) 647.5 888.3 -27.1% 621.3 4.2% 1,268.8 1,749.5 -27.5% Average selling prices (US$) 757.8 725.8 4.4% 805.1 -5.9% 781.0 679.1 15.0% Revenue (US$’million)
Slide 8: Sales Volume & Revenue | Q2 2017 | YOY
Sales Volume & Revenue | Q2 2017 | YOY In US$ million, unless stated otherwise 834.4 -17.6% +7.2% Total Q2 2016 Q2 2017 Change % 737.6 Sales volume (MT'000) 1,123.2 926.0 -17.6% Total -11.6% ASP (US$) 742.8 796.5 7.2% Revenue 834.4 737.6 -11.6% Q2 2016 Volume ASP per MT Q2 2017 644.7 -27.1% +4.4% Bu
Slide 9: Sales Volume & Revenue | Q2 2017 | QOQ
Sales Volume & Revenue | Q2 2017 | QOQ In US$ million, unless stated otherwise +5.0% -3.5% 727.9 737.6 Total Q1 2017 Q2 2017 Change % Total +1.3% Sales volume (MT'000) 881.6 926.0 5.0% ASP (US$) 825.7 796.5 -3.5% Revenue 727.9 737.6 1.3% Q1 2017 Volume ASP per MT Q2 2017 500.2 +4.2% -5.9% 490.7 Bulk
Slide 10: Sales Volume & Revenue | H1 2017
Sales Volume & Revenue | H1 2017 In US$ million, unless stated otherwise 1,545.8 -18.5% +16.3% 1,465.5 Total H1 2016 H1 2017 Change % Sales volume (MT'000) 2,217.3 1,807.6 -18.5% Total -5.2% ASP (US$) 697.1 810.7 16.3% Revenue 1,545.8 1,465.5 -5.2% H1 2016 Volume ASP per MT H1 2017 1,188.1 -27.5% +1
Slide 11: Revenue | Geographical spread | Total Sales
Revenue | Geographical spread | Total Sales Q2 2017 H1 2017 Middle East, Middle East, Rest of Asia, 28% Rest of Asia, 26% 19% Malaysia/ Malaysia/ 18% Singapore, Other, 48% Europe , 14% Singapore, Other, 51% Africa, 30% 52% Africa, 29% 49% Europe , 13% Americas, 7% Americas, 6% Pacific Pacific Oceani
Slide 12: Revenue | Geographical spread | Bulk Sales
Revenue | Geographical spread | Bulk Sales Q2 2017 H1 2017 Rest of Asia Rest of Asia, 25% Europe 29% Malaysia/ 16% Malaysia/ Others Europe, 16% Singapore Singapore, Other, 30% 26% Americas 70% Middle East, 74% Middle East Americas, 7% 9% 47% 41% Pacific Oceania Pacific Oceania, 5% 5% Q2 2017 H1 2017
Slide 13: Revenue | Geographical spread | Consumer Pack Sales
Revenue | Geographical spread | Consumer Pack Sales Q2 2017 H1 2017 Africa Africa Malaysia/ 50% Malaysia/ 45% Singapore Middle East Others Singapore Others Pacific Oceania Middle East 18% 7% 93% 7% 93% Pacific Oceania 4% 16% 4% Americas Americas Rest of Asia Rest of Asia 6% Europe 6% Europe 13% 13%
Slide 14: Operating margin | Q2 2017 | YOY
Operating margin | Q2 2017 | YOY In US$ million, unless stated otherwise -5.3 +13.6 38.4 30.1 Total Q2 2016 Q2 2017 Change % Sales volume (MT'000) 1,123.2 926.0 -17.6% Total -17.6% +54.9% OM per MT (US$) 26.8 41.5 54.9% +27.7% Operating margin 30.1 38.4 27.7% Q2 2016 Volume OM per MT Q2 2017 25.9 -7
Slide 15: Operating margin | Q2 2017 | QOQ
Operating margin | Q2 2017 | QOQ In US$ million, unless stated otherwise +1.3 +10.5 38.4 Total Q1 2017 Q2 2017 Change % 26.6 Total +5.0% +37.4% Sales volume (MT'000) 881.6 926.0 5.0% +44.4% OM per MT (US$) 30.2 41.5 37.4% Operating margin 26.6 38.4 44.4% Q1 2017 Volume OM per MT Q2 2017 +0.6 +7.7 23
Slide 16: Operating margin | H1 2017
Operating margin | H1 2017 In US$ million, unless stated otherwise -10.2 +19.9 65.0 55.3 Total H1 2016 H1 2017 Change % Sales volume (MT'000) 2,217.3 1,807.6 -18.5% Total -18.5% +44.2% OM per MT (US$) 24.9 35.9 44.2% +17.5% Operating margin 55.3 65.0 17.5% H1 2016 Volume OM per MT H1 2017 42.2 -11.6
Slide 17: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 31 Dec 2016 30 Jun 2017 728.3 728.3 661.8 661.8 Current net debt Current Working 209.5 28.8% Working net debt 21.9% Capital Capital 144.8 Non-current net debt 378.9 Non-current net debt 334.5 31.0 4.7% 25.5 3.5% Equity Equity 486.0 493.3 67.7% Long-term 73.4% L
Slide 18: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 728.3 728.3 209.5 Current net debt 55.3% Working capital 378.9 52.0% Equity 169.4 44.7% 25.5 Non-current debt 7.3% Long-term investments Equity 349.4 323.9 48.0% 92.7% Investment Capital Actual Actual Debt / Equity Ratio H1 2017 FY 2016 Objective Long-term inve
Slide 19: Balance Sheet | Liquidity
Balance Sheet | Liquidity Gross debt to equity Non-current debt repayment schedule Year 2 17.2 Year 3 6.9 0.76 0.62 0.63 0.46 Year 4 1.4 Total 25.5 2014 2015 2016 H1 2017 In US$ million Net debt to equity Trade finance facilities utilisation Utilised % Facility 569.2 Utilised 270.9 47.6% 0.67 Unutil
Slide 20: Cycle time
Cycle time Inventory days Trade receivable days 49 31 33 31 32 34 29 28 2014 2015 2016 H1 2017 2014 2015 2016 H1 2017 Trade payable days Cycle time 2014 2015 2016 H1 2017 (14) (13) (17) (16) 68 48 44 47 2014 2015 2016 H1 2017 Cycle time is calculated as Inventory days + Trade receivable days – Trade
Slide 21: Cash Flows Statement | Summary
Cash Flows Statement | Summary In US$ million Q2 2017 Q2 2016 H1 2017 H1 2016 Operating cash flows before working capital changes 17.8 16.2 26.6 19.9 Changes in operating assets and liabilities (12.4) 117.7 (48.6) 108.2 Net interest and income tax payment (5.5) (4.5) (14.6) (9.6) Net cash flows (use
Slide 22: Thank you
Thank you Any questions, contact: Rajesh Chopra, Group Chief Financial Officer Ph: (65) 6829 5255| mail: rajesh@mewahgroup.com 22