Fraser & Neave Ltd. · SGX:F99
Fraser & Neave — FY2022 Earnings Presentation
20 slides from Fraser & Neave's earnings presentation, Nov 10, 2022
Slide 1: Full-Year FY2022 Results
FULL-YEAR FY2022 RESULTS for full-year ended 30 September 2022 (“FY2022”) (Unaudited) 10 November 2022
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
Slide 3 FINANCIAL HIGHLIGHTS FY2022 Financial Report (Unaudited) $2,003.2M $233.4M 11.7% + 6.6% - 10.8% - 228BPS REVENUE PBIT PBIT MARGIN $176.9M $129.4M 8.9CTS - 9.5% - 10.9% - 11.0% ATTRIBUTABLE EARNINGS PER PAT PROFIT1 SHARE1 (CENTS) Full-year ended 30 September 2022 1. Before fair value adjustme
Slide 4: Financial Analysis: Revenue by Business
Slide 4 FINANCIAL ANALYSIS : Revenue FY2022 Revenue | BY BUSINESS KEY TAKEAWAYS • Beverages fueled FY2022 revenue growth; + 26% + 1% + 48% $2,003.2m lifted by higher Beer and Soft Drinks - 3% volumes, higher selling prices and strong $1,879.2m 2H2022 performance • Beer sales almost doubled F&B (+ 8%
Slide 5: Financial Analysis: Revenue by Geography
Slide 5 FINANCIAL ANALYSIS : Revenue FY2022 Revenue | BY GEOGRAPHY KEY TAKEAWAYS • All markets recorded top line growth • Domestic market recovery, successful festive campaigns and higher selling FY2022 FY2021 prices boosted soft drinks sales in $2,003.2M $1,879.2M Malaysia, despite reduced export S
Slide 6: Financial Analysis: PBIT by Business
Slide 6 FINANCIAL ANALYSIS : PBIT FY2022 PBIT | BY BUSINESS KEY TAKEAWAYS • Beverages earnings growth was driven by $261.7m + 89% higher beer and soft drinks sales, despite higher input costs + 83% $233.4m - 18% • Dairies earnings fell 23%, impacted by higher NM input costs F&B (- 10%) • Dairies Tha
Slide 7: Financial Analysis: PBIT by Geography
Slide 7 FINANCIAL ANALYSIS : PBIT FY2022 PBIT | BY GEOGRAPHY KEY TAKEAWAYS • Thailand’s profit was impacted by escalating input costs, unfavourable FY2022 FY2021 foreign currency translation and $233.4M $261.7M delayed selling price adjustments (price adjustments for selected Singapore -2% 4% produc
Slide 8: Financial Highlights: Balance Sheet
Slide 8 FINANCIAL HIGHLIGHTS : Balance Sheet FY2022 BALANCE SHEET TOTAL LIABILITIES $1,478.4M Borrowings $889.3M Other Current Liabilities $489.6M TOTAL ASSETS $4,980.9M Other Non-Current Liabilities $99.5M Cash and Bank Balances $274.6M Other Current Assets $792.0M Non-Current Assets $3,914.3M TOTA
Slide 9: Strong Capital Structure
Slide 9 STRONG CAPITAL STRUCTURE Maturity Profile of Group Debt Generous debt headroom for acquisitions FY2022 FY2021 Cash 274.6M 471.8M Floating Rates $837.7m Fixed 18% $51.6m Borrowings 889.3M 926.8M Rates 82% Gearing1 17.6% 13.2% MATURING < 1YR MATURING > 1YR Dividend Proposed Final Dividend of 3
Slide 10: Corporate Development
Corporate Development Full-year ended 30 September 2022
Slide 11: Acquisition of Ladang Permai Damai
Slide 11 Acquisition of Ladang Permai Damai • Fraser & Neave Holdings Bhd (“F&NHB”), through its indirect 65% held subsidiary, successfully acquired 100% equity interest in Ladang Permai Damai Sdn Bhd for a cash consideration of RM215.6M. • The acquisition presents an opportunity for the Group to em
Slide 12: Acquisition of Cocoaland
Slide 12 Acquisition of Cocoaland • F&NHB successfully acquired 72.4% equity interest in Cocoaland Holdings Berhad (“Cocoaland”) by way of Members’ Scheme of Arrangement for a total cash consideration of RM489.2M. • It is expected that Cocoaland be delisted from Bursa Malaysia in November 2022. • Co
Slide 13: F&N Opens the First Eco-Solutions Manufacturing Plant in Singapore
Slide 13 F&N Opens the First Eco-Solutions Manufacturing Plant in Singapore • Green Lab was launched by Print Lab and Times Publishing Group. • A 200,000 sq ft facility, the plant will provide sustainable solutions for businesses in the ASEAN region, such as biodegradable and compostable kraft paper
Slide 14: Marshall Cavendish Education Forms Partnerships
Slide 14 Marshall Cavendish Education Forms Partnerships - Marshall Cavendish Education (“MCE”) Partners With Arrowad Group (“AG”) • Times Publishing Group signed a partnership agreement with the AG to bring MCE’s educational resources to Saudi Arabia. • Schools under the AG will adopt some of MCE’s
Slide 15: New Packaging: 100PLUS
Slide 15 NEW PACKAGING : 100PLUS Healthier Choice Available in Singapore and Malaysia PET 1.5L, 500ML Can 300ML Box of 5 X 15G
Slide 16: New Products
Slide 16 NEW PRODUCTS Healthier Choice Available in Singapore Tetra 500ML, 1L F&N F&N MAGNOLIA MAGNOLIA Hazelnut PLUS Chocolate Low Fat Low Fat Hi Cal Flavoured Milk Milk with (limited-edition) Multigrains
Slide 17: New Products
Slide 17 NEW PRODUCTS Healthier Choice Available in Singapore Tetra 1L PET 375ML F&N F&N MAGNOLIA NUTRISOY PLUS High Protein Fresh Soya Milk Milk with Purple Rice
Slide 18: New Products
Slide 18 NEW PRODUCTS Healthier Choice Available in Singapore Pack of VITAPLUS Benecol® 4 PET X 70ML Orange & Strawberry
Slide 19: Thank You
THANK YOU Analyst and media contact: Jennifer Yu Director, Investor Relations T: (65) 6318 9231 E: jenniferyu@fngroup.com.sg Website: https://fraserandneave.com
Slide 20: FY2022 Group Financial Highlights (Unaudited)
Slide 20 FY2022 Group Financial Highlights (Unaudited) Change ($ million) FY2022 FY2021 (%) Revenue 2,003.2 1,879.2 6.6 Gross profit 573.8 582.9 1.6 Profit before interest and tax1 233.4 261.7 10.8 PBIT margin (%) 11.7% 13.9% 228bps Profit after tax 176.9 195.5 9.5 Profit attributable to 129.4 145.2