Top Glove Corporation Bhd. · MYX:TOPGLOV
Top Glove Corporation Bhd — Q4 FY2024 Earnings Presentation
16 slides from Top Glove Corporation Bhd's earnings presentation, Oct 10, 2024
Slide 1: Results Briefing 4th Quarter & Financial Year 2024
1/16 TOP GLOVE CORPORATION BHD Results Briefing 4th Quarter & Financial Year 2024 ended 31st August 2024 Date : 10th October 2024, Thursday Time : 3:15pm to 4:15pm SUSTAINING RECOVERY AND GROWTH Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR United States : TGLVY
Slide 2: Key Performance Highlights
2/16 Key Performance Highlights Strong Sales Volume and Improvements in Cost Efficiency Muted by Currency Impacts 1 2 3 4 Robust Growth Operations performance Stronger Sustainability in Sales Volume, improved; profitability Cash Balance Milestones With A Continued impacted by the sudden Upward Trend
Slide 3: Agenda
3/16 1 Financial Performance AGENDA 2 Sustainable Business: Moving Beyond Business As Usual 3 Outlook
Slide 4: 4QFY24 Financial Highlights
4/16 4QFY24 Financial Highlights Delivers Highest Sales Volume Growth Post Pandemic 4QFY24 3QFY24 QoQ Highlights of 4QFY24 vs 3QFY24 RM ‘mil 1. Strong uptick in revenue with sales volume up by 31%. There were no shipment delays due to port congestion in 4QFY24. Revenue 835 637 +31% 2. ASPs and raw m
Slide 5: FY2024 Financial Highlights
5/16 FY2024 Financial Highlights Notably Improved Performance Due to Increase in Sales Volume FY2024 FY2023 YoY Highlights of FY2024 RM ‘mil 1. Strong recovery with a 19% increase in sales volume. Revenue 2,516 2,257 +11% 2. Significant improvement in EBITDA and reduction in Net Loss are EBITDA 251
Slide 6: Resilient Recovery: Good Improvement since 4QFY23
6/16 Resilient Recovery : Good Improvement since 4QFY23 Revenue, RM ‘mil Sales Volume, bil pcs QoQ: +31% YoY: +91% 835 QoQ: +31% 637 8.8 493 550 6.7 476 5.9 4.6 5.0 1. Revenue and Sales Volume have been on uptrend since 4QFY23, and with the strongest growth in 4QFY24. 4QFY23 1QFY24 2QFY24 3QFY24 4QF
Slide 7: Nitrile & NR Latex Glove Performance: Positive Contribution
7/16 Nitrile & NR Latex Glove Performance : Positive Contribution Nitrile Gloves 4QFY24 vs 3QFY24 Nitrile Glove performance: Sales Volume, bil pcs +43% • Sales Volume up by 43%, strong demand from the U.S. and Western Europe. ASPs, • ASPs were adjusted upwards to align with the increased cost USD/ca
Slide 8: 4QFY24 Sales Volume by Region & Product Mix
8/16 4QFY24 Sales Volume by Region & Product Mix Strong Sales Growth Across Regions; Middle East Sales Soften 4QFY24 % of Product Mix by North Western Eastern Sales Volume America QoQ Europe QoQ Europe QoQ 17% 117% 21% 26% 22% 51% 60% Nitrile gloves EASTERN Natural rubber NORTH WESTERN EUROPE 21% po
Slide 9: Strong Glove Demand Enable the Cost Pass Through Mechanism
9/16 Strong Glove Demand Enable the Cost Pass Through Mechanism Nitrile & NR Latex Concentrate Prices 4QFY24 Production Cost Structure USD/kg Nitrile 2.42 2.1 2.04 Depreciation 4% 1.66 1.63 1.65 1.71 Electricity 5% 1.6 NR Latex Packaging 7% Raw Material 1.061.22 1.24 1.16 Other Overhead 42% 1.1 0.99
Slide 10: Prioritising Cash Preservation During Recovery Phase
10/16 Prioritising Cash Preservation During Recovery Phase A Stronger Net Cash Position from 4QFY23 Operating Cash Flow, RM’mil Total Cash, RM’mil Net Cash Position, RM’mil YoY : +5% +4% YoY : +53% 1,000 +17% 66 959 35 948 602 516 394 (13) 4QFY23 3QFY24 4QFY24 31/08/23 31/05/24 31/08/24 31/08/23 31/
Slide 11: Proposed Bonus Issuance of Warrants
11/16 Proposed Bonus Issuance of Warrants The exercise price and conversion Number of Warrants to be Issued Proposal details will be determined before 1 Bonus Warrant for every the issuance of the circular to Entitlement Basis shareholders, expected in early 20 existing TG Shares December 2024. No
Slide 12: Agenda
12/16 1 Financial Performance AGENDA 2 Sustainable Business: Moving Beyond Business As Usual 3 Outlook
Slide 13: Benchmarking International Sustainability Ratings
13/16 Benchmarking International Sustainability Ratings Criteria for Best Sustainability Practices National Corporate Governance & Workforce Disclosure Initiative (WDI) Sustainability Awards (NACGSA) 2024 Inclusion since 2024 Top Glove ranked #7 at the NACGSA 2024 on 26th Sept 2024. The first Malays
Slide 14: Agenda
14/16 1 Financial Performance AGENDA 2 Sustainable Business: Moving Beyond Business As Usual 3 Outlook
Slide 15: Outlook: The Tide Has Turned; Stronger Quarters Ahead
15/16 Outlook: The Tide Has Turned; Stronger Quarters Ahead 1. Strong glove demand is expected to continue due to: • Stock replenishment. • U.S. customers will begin to outsource to Malaysian glove manufacturers now ahead of the new Demand 50% tariff on glove imports from China, which comes into eff
Slide 16: Thank You Have A Nice Day!
16/16 Scan or click to access TG Investor Relations webpage Scan or click to access TG Sustainability webpage Thank You Have A Nice Day! www.topglove.com/ir-overview-en invest@topglove.com.my +603 3362 3098 www.topglove.com/sustainability