Mewah International Inc. · SGX:MV4
Mewah International — Q3 2017 Earnings Presentation
21 slides from Mewah International's earnings presentation, Nov 10, 2017
Slide 1: Q3 2017 & 9M 2017 Financial Results Summary
10th November, 2017 Creating Synergy Delivering Value Q3 2017 & 9M 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 Third Quarter and Nine Month Ended 30 Sep 2017 lodged on the SGXNET on 10th Nov, 2017. 2
Slide 3: Performance Summary
Performance Summary In US$ million Net Profit* Q3 2017 13.4 Q3 2016 10.5 YOY Change 27.4% Q2 2017 3.1 QOQ Change 332.3% 9M 2017 20.5 9M 2016 15.4 YOY Change 33.5% * Profit after tax attributable to equity holders of the Company 3
Slide 4: Income Statement | Q3 2017 & 9M 2017
Income Statement | Q3 2017 & 9M 2017 In US$ million, unless stated otherwise Q3 2017 Q3 2016 % change Q2 2017 % change 9M 2017 9M 2016 % change Sales volume (MT'000) 981.5 1,075.5 -8.7% 926.0 6.0% 2,789.1 3,292.9 -15.3% ASP (US$) 752.9 703.9 7.0% 796.5 -5.5% 790.4 699.3 13.0% Revenue 739.0 757.0 -2.
Slide 5: Income Statement | CPO prices vs. OM per MT
Income Statement | CPO prices vs. OM per MT CPO Price (MYR) 3,500 800 CPO Price (US$) Operating Margin (%) 700 3,000 600 CPO Prices - Ringgit Malaysia (RM) 2,500 5.4% 5.2% 5.2% 500 4.8% 2,000 CPO Prices - US$ 400 3.7% 3.5% 3.6% 1,500 300 1,000 42.7 41.5 200 36.6 36.1 30.2 23.1 26.8 500 100 - - Q1 20
Slide 6: Segmental Performance | Q3 2017 & 9M 2017
Segmental Performance | Q3 2017 & 9M 2017 YOY QOQ YOY Q3 2017 Q3 2016 Change Q2 2017 Change 9M 2017 9M 2016 Change Bulk segment Sales volume (MT’000) 679.6 869.5 -21.8% 647.5 5.0% 1,948.4 2,619.0 -25.6% Average selling prices (US$) 717.6 685.5 4.7% 757.8 -5.3% 758.9 681.2 11.4% Revenue (US$’million)
Slide 7: Sales Volume & Revenue | Q3 2017 | YOY
Sales Volume & Revenue | Q3 2017 | YOY In US$ million, unless stated otherwise 757.0 -8.7% +7.0% Total Q3 2016 Q3 2017 Change % 739.0 Sales volume (MT'000) 1,075.5 981.5 -8.7% Total ASP (US$) 703.9 752.9 7.0% -2.4% Revenue 757.0 739.0 -2.4% Q3 2016 Volume ASP per MT Q3 2017 596.0 -21.8% +4.7% Bulk Q
Slide 8: Sales Volume & Revenue | Q3 2017 | QOQ
Sales Volume & Revenue | Q3 2017 | QOQ In US$ million, unless stated otherwise +6.0% -5.5% Total Q2 2017 Q3 2017 Change % 737.6 739.0 Sales volume (MT'000) 926.0 981.5 6.0% Total +0.2% ASP (US$) 796.5 752.9 -5.5% Revenue 737.6 739.0 0.2% Q2 2017 Volume ASP per MT Q3 2017 490.7 +5.0% -5.3% 487.7 Bulk
Slide 9: Sales Volume & Revenue | 9M 2017
Sales Volume & Revenue | 9M 2017 In US$ million, unless stated otherwise 2,302.8 -15.3% +13.0% 2,204.5 Total 9M 2016 9M 2017 Change % Sales volume (MT'000) 3,292.9 2,789.1 -15.3% Total ASP (US$) 699.3 790.4 13.0% -4.3% Revenue 2,302.8 2,204.5 -4.3% 9M 2016 Volume ASP per MT 9M 2017 1,784.0 -25.6% +1
Slide 10: Revenue | Geographical spread | Total Sales
Revenue | Geographical spread | Total Sales Q3 2017 9M 2017 Middle East, Middle East, Rest of Asia, 25% 26% 19% Rest of Asia, Malaysia/ Malaysia/ 21% Singapore, Other, 48% Europe , 15% Singapore, Other, 48% Europe , 15% 52% Africa, 28% 52% Africa, 27% Americas, 7% Americas, 7% Pacific Pacific Oceani
Slide 11: Revenue | Geographical spread | Bulk Sales
Revenue | Geographical spread | Bulk Sales Q3 2017 9M 2017 Rest of Asia Europe Rest of Asia, 40% 32% 15% Malaysia/ Europe, 13% Malaysia/ Others Singapore, Other, 26% Singapore 26% Americas Americas, 9% 74% Middle East 74% 9% 39% Pacific Oceania Middle East, Pacific Oceania, 5% 33% 5% Q3 2017 9M 2017
Slide 12: Revenue | Geographical spread | Consumer Pack Sales
Revenue | Geographical spread | Consumer Pack Sales Q3 2017 9M 2017 Africa Africa Malaysia/ 42% Middle East Malaysia/ 43% Middle East Singapore Others 20% Singapore Others 19% 10% 90% 8% 92% Pacific Oceania Pacific Oceania Rest of Asia 5% 6% Rest of Asia 11% Americas Americas Europe 13% Europe 6% 6%
Slide 13: Operating margin | Q3 2017 | YOY
Operating margin | Q3 2017 | YOY In US$ million, unless stated otherwise 39.4 -3.4 -0.5 35.5 Total Q3 2016 Q3 2017 Change % Sales volume (MT'000) 1,075.5 981.5 -8.7% Total -8.7% -1.4% OM per MT (US$) 36.6 36.1 -1.4% -9.9% Operating margin 39.4 35.5 -9.9% Q3 2016 Volume OM per MT Q3 2017 35.3 -7.7 -9
Slide 14: Operating margin | Q3 2017 | QOQ
Operating margin | Q3 2017 | QOQ In US$ million, unless stated otherwise 38.4 +2.3 -5.2 35.5 Total Q2 2017 Q3 2017 Change % +6.0% -13.0% Total Sales volume (MT'000) 926.0 981.5 6.0% -7.6% OM per MT (US$) 41.5 36.1 -13.0% Operating margin 38.4 35.5 -7.6% Q2 2017 Volume OM per MT Q3 2017 23.0 +1.1 -6.
Slide 15: Operating margin | 9M 2017
Operating margin | 9M 2017 In US$ million, unless stated otherwise 94.6 -14.5 +20.3 100.4 Total 9M 2016 9M 2017 Change % Sales volume (MT'000) 3,292.9 2,789.1 -15.3% Total -15.3% +25.4% OM per MT (US$) 28.7 36.0 25.4% +6.1% Operating margin 94.6 100.4 6.1% 9M 2016 Volume OM per MT 9M 2017 77.5 -19.8
Slide 16: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 31 Dec 2016 30 Sep 2017 727.3 727.3 661.8 661.8 Current net debt Current Working 199.6 27.5% Working net debt 21.9% Capital Capital 144.8 372.6 Non-current net debt Non-current net debt 21.2 2.9% 334.5 31.0 4.7% Equity Equity 69.6% 486.0 Long-term 506.5 Long-te
Slide 17: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 727.3 727.3 199.6 Current net debt 53.5% Working capital 372.6 51.2% 173.0 Equity 46.5% 21.2 Non-current debt 6.0% Long-term investments 354.7 Equity 333.5 94.0% 48.8% Investment Capital Actual Actual Debt / Equity Ratio 9M 2017 FY 2016 Objective Long-term inve
Slide 18: Balance Sheet | Liquidity
Balance Sheet | Liquidity Gross debt to equity Non-current debt repayment schedule Year 2 15.5 Year 3 5.0 0.76 0.62 0.55 Year 4 0.7 0.46 Total 21.2 2014 2015 2016 9M 2017 In US$ million Net debt to equity Trade finance facilities utilisation Utilised % Facility 574.3 Utilised 244.7 42.6% 0.67 Unutil
Slide 19: Cycle time
Cycle time Inventory days Trade receivable days 49 31 33 31 32 34 36 29 2014 2015 2016 9M 2017 2014 2015 2016 9M 2017 Trade payable days Cycle time 2014 2015 2016 9M 2017 (14) (16) (17) (17) 68 48 51 44 2014 2015 2016 9M 2017 Cycle time is calculated as Inventory days + Trade receivable days – Trade
Slide 20: Cash Flows Statement | Summary
Cash Flows Statement | Summary In US$ million Q3 2017 Q3 2016 9M 2017 9M 2016 Operating cash flows before working capital changes 16.7 23.7 43.2 43.7 Changes in operating assets and liabilities 4.5 53.3 (44.0) 161.5 Net interest and income tax payment (3.0) (3.6) (17.6) (13.2) Net cash flows from/(u
Slide 21: Thank you
Thank you Any questions, contact: Rajesh Chopra, Group Chief Financial Officer Ph: (65) 6829 5255| mail: rajesh@mewahgroup.com 21