Fraser & Neave Ltd. · SGX:F99
Fraser & Neave — FY2021 Earnings Presentation
18 slides from Fraser & Neave's earnings presentation, November 2021
Slide 1: FY2021 Financial Highlights
FY2021 FINANCIAL HIGHLIGHTS Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of ou
Slide 2: Important notice
Slide 2 Important notice Certain statements in this Presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the ac
Slide 3: Financial Highlights: FY2021 Financial Report
Slide 3 FINANCIAL HIGHLIGHTS FY2021 Financial Report • Resilient performance despite challenges of COVID-19 • Strong cost control cushioned impact of rising costs and unfavourable foreign currency translation $1,879.2M $261.7M 13.9% + 2.5% - 2.1% - 66BPS REVENUE PBIT PBIT MARGIN $195.5M $145.2M 10.0
Slide 4: Financial Analysis: Revenue by Business
Slide 4 FINANCIAL ANALYSIS : Revenue FY2021 Revenue | BY BUSINESS KEY TAKEAWAYS $1,879.2m • F&B underpinned Group FY2021 $1,833.5m +3% +2% NM revenue growth; Dairies remained the largest revenue contributor -3% • Higher Beer volume lifted F&B Beverages revenue (+2%) • Beer revenue surged on strong b
Slide 5: Financial Analysis: Revenue by Geography
Slide 5 FINANCIAL ANALYSIS : Revenue FY2021 Revenue | BY GEOGRAPHY KEY TAKEAWAYS • All markets recorded revenue growth FY21 FY20 • Higher canned milk sales in $1,879.2M $1,833.5M Malaysia and strong Export volume lifted revenue; more than Singapore 22% 23% offset weaker on-premise sales due to COVID
Slide 6: Financial Analysis: PBIT by Business
Slide 6 FINANCIAL ANALYSIS : PBIT FY2021 PBIT | BY BUSINESS KEY TAKEAWAYS $267.4m + 15% + 76% NM $261.7m • Beverages earnings were driven by favourable sales mix, savings from - 10% cost cutting measures and lower A&P; Beer profits impacted by F&B unfavourable forex (- 8%) • Dairies earnings were la
Slide 7: Financial Analysis: PBIT by Geography
Slide 7 FINANCIAL ANALYSIS : PBIT FY2021 PBIT | BY GEOGRAPHY KEY TAKEAWAYS • Thailand and Vietnam remained top profit contributors FY21 FY20 • Contribution from Vinamilk $261.7M $267.4M decreased to $111.7m due to - 2% higher input costs and Singapore 4% unfavourable currency translation Malaysia 14
Slide 8: Financial Analysis: Profit After Tax
Slide 8 FINANCIAL ANALYSIS : Profit After Tax FY2021 PROFIT AFTER TAX KEY TAKEAWAYS • Largely impacted by an $8.7- $207.7m million exceptional charge which + 5% $195.5m arose from restructuring initiatives - 2% - 4% implemented by the Group to NM reduce costs, streamline operations and build resilie
Slide 9: Financial Highlights: Balance Sheet
Slide 9 FINANCIAL HIGHLIGHTS : Balance Sheet FY2021 BALANCE SHEET TOTAL LIABILITIES $1,470.0M Borrowings $926.8M TOTAL ASSETS $4,921.2M Other Current Liabilities $438.7M Other Non-Current Liabilities $104.5M Cash and Bank Balances $471.8M Other Current Assets $606.0M TOTAL EQUITY $3,451.2M Non-Curre
Slide 10: Strong Capital Structure
Slide 10 STRONG CAPITAL STRUCTURE Maturity Profile of Group Debt Generous debt headroom for acquisitions FY2021 FY2020 $499.2m $427.6m Cash 471.8M 285.5M Fixed Floating Rates Rates Borrowings 926.8M 838.6M 93% 7% Gearing1 13.2% 16.3% MATURING < 1YR MATURING > 1YR Dividend In line with dividend polic
Slide 11: Corporate Development Full Year Ended 30 September 2021
Corporate Development Full Year Ended 30 September 2021
Slide 12: Strengthening Halal Position
Slide 12 STRENGTHENING HALAL POSITION • Acquired Sri Nona Group of Companies — Sri Nona Food Industries Sdn Bhd, Sri Nona Industries Sdn Bhd and Lee Shun Hing Sauce Industries Sdn Bhd — for cash consideration of RM59.5 million ($19.3 million) • Complements F&N’s current product offering to consumers
Slide 13: About Sri Nona Group
Slide 13 About Sri Nona Group Sri Nona Group, based in Malaysia, manufactures, distributes and sells rice cakes (ketupat), condiments (oyster sauce and paste), beverages (ginger tea powder), desserts (pudding and jelly powder), and jams and spreads. It is best known for its flagship product, the NON
Slide 14: New Products
Slide 14 NEW PRODUCTS F&N SPARKLING Healthier Choice Logo (Apple Barley and Espresso) Available in Malaysia PET 350ml APPLE BARLEY HONEY LEMON ESPRESSO
Slide 15: New Products
Slide 15 NEW PRODUCTS New Flavour New Packaging Healthier Choice EST F&N Cola Brown Sugar Ice Mountain Water F&N Zero Sugar (Recyclable Cans)
Slide 16: New Products
Slide 16 NEW PRODUCTS New Flavour Available in Singapore Healthier Choice F&N NUTRIWELL F&N MAGNOLIA F&N FRUIT TREE FRESH Roselle Tea Low Fat Strawberry Prune Juice (Reduced Sugar) Milk (No Sugar Added)
Slide 17: Thank You
Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Brands Power of our Enduring Power of our Enduring Brands Thank You Power o
Slide 18: FY2021 Group Financial Highlights (Unaudited)
Slide 18 FY2021 Group Financial Highlights (Unaudited) Full Year Ended 30 Sep 2021 Change FY2021 FY2020 ($ million) (%) Revenue 1,879.2 1,833.5 2.5 Gross Profit 582.9 595.9 2.2 Profit before interest and tax 261.7 267.4 2.1 PBIT margin (%) 13.9% 14.6% 66bps Profit after tax 195.5 207.7 5.9 Profit at