Jb Foods Ltd. · SGX:BEW
Jb Foods — Shareholder Meeting (July 2025)
28 slides from Jb Foods's shareholder meeting presentation, Jul 30, 2025
Slide 1: 13th Annual General Meeting
JB Foods Limited 13th ANNUAL GENERAL MEETING 30 July 2025
Slide 2: Disclaimer
Disclaimer Certain information and statements made in this presentation contain “forward-looking statements”. Such forward-looking statements can be identified by the use of forward- looking terminology such as “anticipate”, “believe”, “considering”, “depends”, “estimate”, “expect”, “intend”, “plan”
Slide 3: Outline
Outline ► Cocoa Bean Price Trends Pg. 5 ► Cocoa Bean Grinding and Production Statistics Pg. 7 ► Introduction of JB Foods ► Milestones Pg. 9 ► Group Structure Pg. 10 ► Our Products Pg. 11 ► Bean production and consumptions Pg. 12-13 ► Business Performance Review ► Financials Pg. 14 to 20 ► JB Foods S
Slide 4: Cocoa Bean Price Trends
Cocoa Bean Price Trends 4
Slide 5: Bean Prices (USD/MT) – Jan 2022 to Jul 2025
Bean Prices (USD/MT) – Jan 2022 to Jul 2025 (source: Tradingeconomics.com) Sharp increase in cocoa bean prices due to shortage of cocoa bean arising from unfavorable weather conditions, particularly in Ivory Coast and Ghana. ► 10-year CAGR of 10.5% Cocoa bean prices increase from about USD2500/MT in
Slide 6: Cocoa Bean Grinding & Production Statistics
Cocoa Bean Grinding & Production Statistics 6
Slide 7: Cocoa Bean Grinding & Production
Cocoa Bean Grinding & Production 5200 4700 4200 3700 3200 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Year ('000 MT) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Cocoa production 3,811 3,439 3,731 3,593 3,634 4,309 4,095 3,943 4,370 4,252
Slide 8: Introduction to JB Foods
Introduction to JB Foods JBCOCOA
Slide 9: Key Milestones
Key Milestones First factory in IPO listing in Third factory in China (2019) Growing sustainable Sales offices in Malaysia (2002) Singapore (SGX) USA/Eastern Europe/ Incorporation of Switzerland, bean sourcing Indonesia/ China Estonia, Côte’D’Ivoire subsidiaries capabilities Second fac
Slide 10: Group Structure
Group Structure JB Foods Limited JB Foods Global JB Sourcing CI JB Cocoa CI JB Cocoa AG JB Cocoa Sdn Bhd JBC Europe OU Pte. Ltd. (Switzerland) (Malaysia) (Estonia) (Côte D’Ivoire) (Côte D’Ivoire (Singapore) JB Cocoa Holding JB Cocoa Foods Inc. (China) Co Ltd (USA) (China) JB Cocoa Trading PT Jebe Tr
Slide 11: Raw Materials & Our Products
Raw Materials & Our Products Cocoa Beans More than 90% of our revenue is derived from Cocoa Powder & Cocoa Butter Cocoa Mass Cocoa Butter Cocoa Powder 1 1
Slide 12: Bean Production, cocoa consumptions region
Bean Production, cocoa consumptions region Main consumptions region – About 70% - NAFTA, WE, EE & FSU (3.5mil MT) WE – 40% (2mil MT) EE & FSU -10% NAFTA – 20% (0.5mil MT) (1mil MT) Cocoa Bean production region WA – 70% (3.1mil MT) Indo – (180K MT) – 4% Manufacturing & Warehouse Facilities Regional S
Slide 13: Production of Cocoa Beans
Dig JBCOCOA PRODUCTION OF COCOA BEANS (thousand tonnes) Estimates 2023/24 Cameroon 270 320 Céte d'Ivoire 2241 1674 Ghana 654 449 Nigeria 315 350 Others 236 321 (Americas = tO 20.99% BO 2A Brazil 220 182 Ecuador 454 419 Others 372 378 (Asiae Oceania 253 5 a8 Indonesia 160 180 Papua New Guinea 43 45 O
Slide 14: Business Performance Review
Business Performance Review 14
Slide 15: Financial Highlights ― At A Glance
Financial Highlights ― At A Glance ► Higher in revenue mainly due to (In US$'000) 15M25 FY2023 FY2022 Y-on-Y Change higher ASP driven by higher in Revenue 1,657,461 595,786 509,630 178.2% cocoa bean price. Shipment EBITDA 76,252 24,615 33,580 209.8% volume marginally down 1% y-on-y. PBT 31,715 1,455
Slide 16: Revenue Growth – 15-year CAGR of 17%
Revenue Growth – 15-year CAGR of 17% Revenue (USD'm) 1657.5 Strong partnership with MNCs, 1020.5 evolving and continue to grow 595.8 geographically. 509.6 417.8 448.8 327.1 352.5 300.6 295.6 157.6 215.8 189.5 194.8 218.7 226.5 ► 15 year CAGR of 17% in value (9% volume) ► 10 year CAGR of 18% in value
Slide 17: Profit Before Taxation 2009 to 2025
Profit Before Taxation (“PBT”) 2009 to 2025 (USD’million) Pandemic Covid-19 and supply chain 34.1 31.7 disruptions 31.7 Consolidation of cocoa 20.9 players & oversupply of 22.5 18.4 19.3 16.9 cocoa grindings 16.9 13.8 8.0 4.4 2.4 1.5 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2
Slide 18: Profit and Loss Analysis (15M vs 12M)
Profit and Loss Analysis (15M vs 12M) (In US$'000) 15M25 FY2023 Y-on-Y Change Notes Revenue 1,657,461 595,786 1,061,675 208% N1 Cost of sales (1,553,198) (555,464) (997,734) 216% N2 Gross profit 104,263 40,322 63,941 133% N2 GP margin 6.3% 6.8% (0) N2 Interest income 260 169 91 83% Other losses, net
Slide 19: BS – Mar'25 vs Dec'23
BS – Mar’25 vs Dec’23 Mar'2025 Dec' 2023 Mar'2025 Dec' 2023 Extract of Balance sheet USD'000 USD'000 Variance Extract of Balance sheet USD'000 USD'000 Variance - #DIV/0! Non-current assets 136,068 137,621 (1,553) -1% Current liabilities (760,192) (514,859) (245,333) 95% PPE 120,297 114,488 5,809 6%
Slide 20: Cashflows – 15M25 vs 12M23
Cashflows – 15M25 vs 12M23 15M25 FY2023 Extract of Cash Flow Statement USD'000 USD'000 Changes Explanatory Operating cash flows before Improvement in EBITDA Y-on-Y working capital changes 77,054 24,656 52,398 Changes in working capital 69,180 (65,797) 134,977 Optimising supplier credit term through
Slide 21: Competitive Strengths & Strategies
Competitive Strengths & Strategies 21
Slide 22: Competitive Strengths
Competitive Strengths Loyal and supportive ► F&B multinational corporations, such as Mars, Nestle, Mondelez and Hersheys Group, which are our long international customer base standing customers ► Efficient and nimble decision making ► Attuned and adaptive to industry trends and market Strong Key Man
Slide 23: Growth Strategy
Growth Strategy JBCOCOA
Slide 24: Our Growth Strategy
Our Growth Strategy Sustainable Growth ► Strengthen our Sustainable bean sourcing team and activities in Procurement country of origin ► Focus on cost efficiency and optimise plant utilisation Operations & ► Energy conservation, waste optimisation and carbon footprint Environmental reduction ► Cauti
Slide 25: Key Takeaways
Takeaways > i) SZ Bras J Defir JBCOCOA
Slide 26: Key Takeaways
Key Takeaways ► Cocoa terminal prices remains volatile (weather, crops yield, supply & demand from grinding and consumptions). Cocoa bean prices are the pass-through costs for our business model. ► In view of the elevated cocoa bean prices which continued from 2024 to the first half of 2026, consump
Slide 27: Annual General Meeting Shareholders Presentation
JB Foods Limited ANNUAL GENERAL MEETING Shareholders Presentation 27
Slide 28: Appendix – JB Cocoa in Côte d'Ivoire
Appendix JB Cocoa in Céte dq lvoire Cocoa bean processing capabilities for premium cocoa mass, butter and powder = State-of-the-art, eco-friendly facility = Customised solutions capabilities = Support from sustainable sourcing team = Operational in Q226 (phase 1 — bean processing 25K (cocoa mass) Ph