Bumitama Agri Ltd. · SGX:P8Z
Bumitama Agri — FY2022 Earnings Presentation
18 slides from Bumitama Agri's earnings presentation, February 2023
Slide 1: Bumitama Agri Quarterly Performance Full Year 2022
BUMITAMA AGRI Excellence through discipline Quarterly Performance Full Year 2022
Slide 2: Table of Contents
Table of Contents Executive Summary Performance Highlights Performance Trend Appendix 1
Slide 3: Executive Summary – Full year 2022
Executive Summary – Full year 2022 The year 2022 was the year of two halves ● First half was dominated by palm oil price rally and production recovery, while the second half was a period of normalizing prices and low-cycle production anomaly due to intensifying extreme weather condition o The first
Slide 4: Table of Contents
Table of Contents Executive Summary Performance Highlights Performance Trend Appendix 3
Slide 5: FFB Harvest
FFB Harvest The year 2022 saw the second consecutive anomaly as 4Q22 shaped out to be the “low-cycle” Total Internal External 15% 16% Thousand tons Thousand tons Thousand tons 15% 3,863 3,374 1,468 5,331 1,269 19% 14% 4,643 720 853 299 340 4Q21 4Q22 FY21 FY22 4Q21 4Q22 FY21 FY22 FFB Yield OER 17% 15
Slide 6: Income Statement Highlights
Income Statement Highlights Despite soft 4Q22 performance, EBITDA margin in FY22 remains at 8-year high level Revenue Gross Profit Net Profit* 66% 67% IDR billion IDR billion IDR billion 29% 5,733 3,003 15,829 3,457 1,802 -78% -47% 12,249 729 1,288 681 158 4Q21 4Q22 FY21 FY22 4Q21 4Q22 FY21 FY22 EBI
Slide 7: Crude Palm Oil (CPO)
Crude Palm Oil (CPO) CPO output surged in FY22 vs FY21 as yield recovery continues amid extreme weather condition Production Volume Oil Extraction Rates 13% -0.3% % Thousand tons 1,188 1,052 22.6 22.3 CPO IDR 13,792 bn 14% 87.1% 265 231 4Q21 4Q22 FY21 FY22 FY21 FY22 Revenue Contribution Average Sell
Slide 8: Palm Kernel (PK)
Palm Kernel (PK) PK price, relative to CPO, is trending up of late, in line with the laurics oil market Production Volume Kernel Extraction Rates PK IDR 2,037 bn -0.1% % 13% Thousand tons 251 4.8 12.9% 4.7 223 10% 51 57 4Q21 4Q22 FY21 FY22 FY21 FY22 Revenue Contribution Average Selling Price Sales V
Slide 9: Table of Contents
Table of Contents Executive Summary Performance Highlights Performance Trend Appendix 8
Slide 10: Strong Fundamentals – Financial Performance
Strong Fundamentals – Financial Performance Significant uptrend in palm oil price over the last three years propelled Bumitama’s performance 18,000 6.0 MYR thousand (per ton) IDR billion CAGR: 16% CAGR: 5% 16,000 5.0 14,000 12,000 4.0 10,000 3.0 8,000 CAGR: 16% 6,000 2.0 4,000 CAGR: 14% 1.0 2,000 0
Slide 11: Strong Fundamentals – Production Performance
Strong Fundamentals – Production Performance Resilient production in the past three years amidst the triple-dip La Nina weather condition 4,500 Thousand tons CAGR: 10% 4,000 3,500 3,000 2,500 2,000 1,500 CAGR: 10% 1,000 500 0 4Q21 2Q22 3Q22 4Q22 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15
Slide 12: Strong Fundamentals – Productivity
Strong Fundamentals – Productivity Amidst triple-dip La Nina, yield managed to improve to reach record high level in FY22 25 6 5 20 4 15 Ton per ha Ton per ha 3 10 2 5 1 0 0 1Q13 1Q17 2Q20 4Q12 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4
Slide 13: Strong Fundamentals – Gearing Ratio
Strong Fundamentals – Gearing Ratio Robust performance in the past three years has paved the way for significant deleveraging 1.0x 0.9x 0.8x 0.7x 0.6x 0.5x 0.4x 0.3x 0.2x 0.1x 0.0x 4Q12 4Q13 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22 Gearing ratio Net gearing ratio 12
Slide 14: Table of Contents
Table of Contents Executive Summary Performance Highlights Performance Trend Appendix 13
Slide 15: Area of Operations
Area of Operations Considerable amount of our planted surface is strategically located in areas of good precipitation and temperature, well suited for oil palm cultivation Consolidated Riau West Kalimantan Central Kalimantan Total planted area: 188k ha ● 2k ha planted area ● 81k ha planted area ● 10
Slide 16: Total Planted Area
Total Planted Area Planted area of about 188k hectares, consisting of nucleus estates covering 132k hectares, and plasma estates covering 56k hectares; average age is 12.5 years old as of 1 Jan 2022 Matured 96.4% Immature 3.6% As of 31 December 2022 15
Slide 17: Contact Us
Contact Us If you need further information, please email us at investor.relations@bumitama-agri.com Bumitama Agri Ltd. 10 Anson Road #11-19 International Plaza Singapore 079903 Tel: +65 6222 1332 Fax: +65 6222 1336 Website: www.bumitama-agri.com QR code for our website 16
Slide 18: Thank You / Important Notice
THANK YOU Important Notice This presentation has been prepared by Bumitama Agri Ltd. (“Bumitama” or the “Company”) for informational purposes only. It is not to be constructed as investment or financial advice and does not constitute an offer or an invitation to invest in the Company. This presentat