Slide 1: 1H CY2022 Unaudited Results Investor Briefing
1H CY2022 Unaudited Results Investor Briefing July 29, 2022 Irwin C. Lee Jose Miguel T. Manalang President and CEO Strategy & Investor Relations Director
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Universal Robina Corporation (URC) and plans and objectives of the management of URC. Such forward looking statements involve known and unknown risk
Slide 3: Executive Summary
Executive Summary • 1H 2022 net sales grew 23% as strong sales momentum continues across all business units; BCF Philippines with another record-breaking performance • 1HLorem ipsum 2022 Operating Income up 2% despite higher cost environment • Aggressive price increases and cost savings programs su
Slide 4: Consumer demand growing but watchout on inflationary challenges
Consumer demand growing but watchout on inflationary challenges Quarterly GDP Trend (2020 – Q2 2022) 18 14 10 6 2 -2 -6 -10 -14 Philippines Malaysia -18 Vietnam Thailand Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Thailand’s consumer confidence index 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 (CCI) moved u
Slide 5: URC (Continuing Operations)
URC (Continuing Operations) SALES EBIT NET INCOME In billion pesos In billion pesos In billion pesos 71.1 7.3 7.4 57.9 8.0 6.5 23% 2% 19% 1H 2021 1H 2022 1H 2021 1H 2022 1H 2021 1H 2022 • Double digit topline growth • Absolute profits recovered as • Decline in net income due to continues into Q2 202
Slide 6: Commodity costs elevated into Q2 but slowly easing on improved supply
Commodity costs elevated into Q2 but slowly easing on improved supply; forex remains a challenge Wheat (USD/MT) 500 400 300 200 Jun21 Jul21 Aug21 Sep21 Oct21 Nov21 Dec21 Jan22 Feb22 Mar22 Apr22 May22 Jun22 Palm Oil (USD/MT) 1,950 1,750 1,550 1,350 1,150 950 Jun21 Jul21 Aug21 Sep21 Oct21 Nov21 Dec21
Slide 7: BCF Philippines
BCF PHILIPPINES Sales momentum continues as BCF Philippines posted another record quarter 35.1 29.2 • Highest monthly and quarterly sales in history, breaking previous quarter’s record • Double-digit growth seen across most categories, SALES 20% as consumption signals remain strong In billion pesos
Slide 8: Market Share
Market Share URC Market Share YoY Category Growth CATEGORY URC MAT Feb20 Nielsen MAT Jun22 (internal) Lorem ipsum (pre- pandemic) YTD Jun22 1H 2022 PHILIPPINES Snacks 35.9% 36.3% +16% +20% • Stable market shares across Candies 25.6% 26.5% +13% +11% Branded PH, with YTD Chocolates 21.1% 23.2% +22%
Slide 9: BCF International
BCF INTERNATIONAL Continued strong growth across the region 15.6 10.9 • URCI up 38% in constant currency terms Lorem ipsum • Core international business posting double digit sales growth of 18% (13% on constant currency) SALES 43% with most markets growing at double digit rates In billion pesos • St
Slide 10: AIC
AIC Double digit growth across all business units 19.4 15% 16.8 10.0 +10% • Double digit growth seen across all BUs driven by 9.1 higher selling prices Lorem ipsum • Growth in SURE, despite lower output caused by SALES 2.3 2.9 +25% tighter cane supply and shorter milling season In billion pesos • Fe
Slide 11: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Cash and Financial Debt In billion pesos Gearing Ratio 0.20 17.6 21.7 0.14 15.9 14.2 2021 2022 2021 2022 Cash + Financial Assets at FVPL + AFS Financial Debt Cash Position In billion pesos • Balance sheet remains healthy. Gearing ratio increased to 0.20 5.0 7.6 from divid
Slide 12: URC's Renewed Sustainability Commitments
URC’s Renewed Sustainability Commitments Climate Water Packaging Action Move towards a low- Improve water use Reduce our Net Zero by 2050 carbon economy efficiency & protect packaging footprint 30% EUR reduction by 2030 vs. 2020 watersheds People & Product Sourcing Communities Make people’s Improve
Slide 13: URC's Sustainability Journey
URC’s Sustainability Journey ~Php1B Estimated Cost Avoidance for 2022 Project JAGUAR (Journey in Achieving Sustainability Goals thru Utilities and Assets Renewal) Project Solar Renewable Electricity Utilization
Slide 14: Executive Summary
Executive Summary • 1H 2022 net sales grew 23% as strong sales momentum continues across all business units; BCF Philippines with another record-breaking performance • 1HLorem ipsum 2022 Operating Income up 2% despite higher cost environment • Aggressive price increases and cost savings programs su
Slide 15: Thank you!
Thank you!
Slide 16: Income Statement
Income Statement 1H 2022 1H 2021 (Php Millions) YoY (Unaudited) (Unaudited) NET SALES 71,108 57,877 23% Cost of Sales 52,140 40,672 28% GROSS PROFIT 18,968 17,205 10% Lorem ipsum Operating Expense -11,590 -9,946 17% OPERATING INCOME 7,378 7,260 2% Equity in net income of JVs -334 -92 Finance cost –
Slide 17: Balance Sheet
Balance Sheet 1H 2022 CY 2021 (Php Millions) (Unaudited) (Audited) Cash & cash equivalents 14,171 17,629 (including Financial assets at FVPL and FVOCI) Lorem ipsum Other current assets 57,224 49,863 Property, plant, and equipment 57,405 55,881 Other noncurrent assets 28,977 29,283 TOTAL ASSETS 157,7
Slide 18: Divisional Financials
Divisional Financials SALES EBIT EBIT MARGIN (Php Millions) 1H 2022 1H 2021 YoY 1H 2022 1H 2021 YoY 1H 2022 1H 2021 bps Branded Consumer Foods 51,727 41,044 26% 5,661 5,174 9% 10.9% 12.6% (166) Philippines 36,095 30,145 20% 4,378 4,166 5% 12.1% 13.8% (169) Lorem ipsum International 15,632 10,898 43%
Slide 19: Market Shares
Market Shares Philippines Thailand MARKET MARKET CATEGORY #1 #2 #3 CATEGORY #1 #2 #3 SHARE SHARE Snacks 36.3% URC 23.7% 5.8% Biscuits (new) 17.7% URC 13.5% 7.9% Candies Lorem ipsum 26.5% URC 12.6% 12.5% Wafers 20.7% 23.2% URC 9.4% Chocolates and Coated 23.2% URC 13.7% 8.4% Wafers Vietn