Pt Ultrajaya Milk Industry & Trading Co. Tbk · IDX:ULTJ
Pt Ultrajaya Milk Industry & Trading Co. Tbk — Investor Presentation (December 2023)
48 slides from Pt Ultrajaya Milk Industry & Trading Co. Tbk's investor presentation, December 2023
Slide 1: Public Expose
run Public Expose P.T. Ultrajaya Milk Industry & Trading Company, Tbk December 2023
Slide 2: Presentation Public Expose 2023
Presentation Public Expose 2023 01 02 03 04 05 Company Update Strategies Corporate Financial Overview 3Q2023 Action 2023 Highlights Business Company Business Dividen Financial Activity Growth Strength Treasury stock Report Subsidiaries, 3Q2023 Result Strategies MTN Series Busin
Slide 3: Company Overview
MENUTRISI J en) Company Overview
Slide 4: Company Overview
Company Overview The Company was established in 1970 and began commercial production in 1975 as a pioneer of liquid milk beverage products with UHT technology. Quality aseptic packaging through partnerships with Tetra Pak Since 1975 and Combibloc Since 1998. Listed on the Indonesia Stock Excha
Slide 5: Company Overview (continue)
Company Overview (continue) Also manufactured either directly or through joint venture ("JV") and toll manufacturing entities: sweetened condensed milk, health drinks, cheese, milk powder and juice. Partnerships / agreements with leading multinational companies including Unilever, Mondelez Inter
Slide 6: Subsidiaries, Associated & JV
Subsidiaries, Associated & JV PT PRAWIRAWIDJAJA PRAKARSA PT ULTRAJAYA MILK INDUSTRY SABANA PRAWIRAWIDJAJA PUBLIC (TREASURY STOCK) 49,5% 23,8% 0% 26,7% PT ULTRAJAYA MILK INDUSTRY & TRADING COMPANY Tbk. 30% 70% 50% 69% 25% 85% 75% PT KRAFT PT NIKOS PT ITO-EN PT ULTRA PT ULTRA SUMATERA PT MENARA ULTRA
Slide 7: Update 3Q2023
MENUTRISI A y ULTRAJAYA Update 302023
Slide 8: Company Growth
Company Growth CAGR (Compound Annual Growth Rate) REVENUE EBITDA1 NET PROFIT CAGR: 8,27% CAGR: 11,50% CAGR: 10,13% in Trillion Rupiah in Trillion Rupiah 1 EBITDA (Earning before interest, tax, depreciation, amortization) 7
Slide 9: 3Q2023 Result
3Q2023 Result SALES EBITDA NET PROFIT REVENUE IDR6,118 bilion IDR1,317 bilion IDR951 bilion EBITDA margin: 21.5% Net Profit margin: 16% vs. LY +7.8% vs. margin LY 22.1% vs. margin LY 15% 8
Slide 10: Business Overview
Business Overview Dairy Tea & Health Drink Others #1 in the UHT liquid milk segment with #1 in the RTD tea in carton segment with 61% Manufacturing agreement for the 34% market share (as of Sept 30th 2023) market share (as of Sept 30th 2023) production of milk powder for PT Offers a wide ran
Slide 11: Revenue (Sales) by Segment
Revenue (Sales) by Segment Dairy (IDR bn, %) Tea and Health drinks (IDR bn, %) Other (IDR bn, %) . 10
Slide 12: Financial Highlights
Financial Highlights Historically, our business has showed strong growth momentum and robust earning capability. Sales & Growth (IDR Bn, %) Gross profit and margin (IDR bn, %) EBITDA and margin (IDR bn, %) Net Profit and margin (IDR bn, %) 1 EBITDA (Earning before interest, tax, depreciation, amorti
Slide 13: COGS Breakdown
COGS BREAKDOWN COGS Breakdown (IDR bn) COGS Breakdown as % of Net Sales As % of net sales 2021 2022 3Q22 3Q23 5.199 Direct Materials 53.8% 58.5% 57.8% 58.4% Direct Labor 0.6% 0.6% 0.7% 0.7% 4.242 3.820 4.130 Depreciation 2.2% 1.7% 1.8% 1.7% Electricity and 2.1% 2.0% 1.9% 1.8% Energy Repair and 1.9%
Slide 14: Operating Expenses
Operating Expenses Selling expenses breakdown (IDR bn , % of NS General and adm expenses breakdown (IDR bn , % of NS 3,2% 2,9% 3,2% 3,0% 210 224 184 186 2021 2022 3Q22 3Q23 . Salary & Wages Others Total Operating Expenses are well controlled 13
Slide 15: Operating Cash Flow and Capital Expenditure (capex)
Operating Cash Flow and Capital Expenditure (capex) Operating Cash Flow (IDR bn) Capex (IDR bn)) • Cash flow from operating activities has historically been . • Capital expenditure projects mostly as development enough to cover the purchases of raw materials projects (DC, office, long-term factory e
Slide 16: Company Strategies
MENUTRISI roy ae Company Strategies
Slide 17: Business Strengths
Business Strenghts Strong 01 Industrial Fundamentals Highly Experienced Management 08. Team Market Leading 02 Position to Achieve Growing supply of Sustainable Growth high quality fresh 07. milk Presence in multiple Categories and good 03 track record of Product Extensive nation-wide network distrib
Slide 18: 1. Strong Industrial Fundamentals
1. Strong Industrial Fundamentals in 2023 has shown recovery in many aspects and industry fundamentals are strong. Indonesia has shown fast and significant real GDP growth again. Furthermore, Indonesia has the largest population in Southeast Asia and growing urbanization will drive consumer demand L
Slide 19: 1. Strong Industrial Fundamentals (continue)
1. Strong Industrial Fundamentals (continue) Strong growth of the liquid milk segment of UHT (ultra-high temperature) milk Produk Susu Indonesia's annual per capita consumption is significantly lower than other countries in Asia, but there is an upward trend from year to year, which opens up market
Slide 20: 1. Strong Industrial Fundamentals (continue)
1. Strong Industrial Fundamentals (continue) Strong growth of the liquid milk segment of UHT (ultra-high temperature) milk Dairy Product Market size Growth of Liquid Milk (IDR mio) Key characteristics / trends Urbanization and increasing disposable income strengthening drinking milk demand Healt
Slide 21: 1. Strong Industrial Fundamentals (continue)
1. Strong Industrial Fundamentals (continue) Pasar minuman RTD Teh yang bertumbuh signifikan RTD (Ready To Drink) Tea Market size RTD Tea (IDR mio) Key characteristics / trends Various packaging segments targeting different consumer needs, e.g. Cup – low end positioning Carton – mainly for con
Slide 22: 2. Market Leading Position to Achieve Sustainable Growth
2. Market Leading Position to Achieve Sustainable Growth Market leader in UHT milk and RTD tea in carton segment High quality and a healthy position allow us to achie expected growth Trusted brand among consumers with strong brand equity UHT volume market share RTD tea in CP volume market share YTD
Slide 23: 3. Presence in multiple Categories and good track record of Product Development
3. Presence in multiple Categories and good track record of Product Development (continue) . Kantar Youtube Most Chosen Top 10 LeaderBoard Brand Strongest Local 2020 2022 Brand 2018 RTD Flavoured Milk WOW Brand Forbes Most Supportive Best 50 Public 2017 Sponsor 2019 List Companies 2021 22
Slide 24: 3. Presence in multiple Categories and good track record of Product Development
3. Presence in multiple Categories and good track record of Product Development (continue) We have consistently introduced new product categories and have developed products for different consumer segments to expand our product reach. 1971 1978 1982 1985 1987 1990 Peluncuran GO PUBLIC Pendirian PT.
Slide 25: 3. Presence in multiple Categories and good track record of Product Development
3. Presence in multiple Categories and good track record of Product Development (continue) Ultra Sari Kacang Ijo 150 ml edisi Upin & Ipin (Oktober 2023) Ultra Milk kemasan 750 ml Variant Cokelat & Full Cream (September 2023) Rejuvenated Ultra Mimi Kids 125ml Ultra Milk kemasan 200 ml TehKotak Jasmin
Slide 26: 4. Vertically integrated and highly automated production
4. Vertically integrated and highly automated production Proses produksi yang terotomatisasi dengan teknologi UHT dan sistem pembungkusan aseptik yang terintegrasi Vertically integrated production process across products Highly automated production process with minimum human intervention Utili
Slide 27: 5. Strict quality control in all production chains
5. Strict quality control in all production chains We consistently produce high quality products by implementing strict monitoring and quality control systems throughout our operations 1) Full traceability and tracking of our products 2) Quality checks at multiple stages 3) No product recall since e
Slide 28: 6. Extensive nation-wide network distribution
6. Extensive nation-wide network distribution We cover sales nationwide through an extensive distribution network 87.500 65 22 13 POINTS OF SALE DISTRIBUTOR OFFICIAL 14 SALES through Modern OFFICE Trade by S STORE OVERSEAS subsidiaries as Outer Island through E- distributors in Java well as traditio
Slide 29: 7. Growing supply of high quality fresh milk
7. Growing supply of high quality fresh milk We maintain collaborative relationships with local dairy farmers to ensure a consistent supply of high quality fresh milk and aim to reduce dependence on imported dairy products with fluctuating prices and exchange rates Dairy Farmers Cooperatives majorit
Slide 30: 7. Growing supply of high quality fresh milk (continue)
7. Growing supply of high quality fresh milk (continue) Our farm in Berastagi, North Sumatera ● The dependence on the supply of fresh milk - Control on supply and quality ● Climate favorable for dairy farming ● Utilizing expertise in the farming industry - Joint venture, shared investment ● Large sc
Slide 31: 8. Highly Experienced Management Team
8. Highly Experienced Management Team Director Sabana Prawirawidjaja Samudera Prawirawidjaja Jutianto Isnandar Founder & President Director Director Director • He is one of the founders of the Company. • Worked at Ultrajaya since 1974 as Appointed as President Director of the • Over 25 years of expe
Slide 32: Strategi
MENUTRISI ULTRAJAYA
Slide 33: Strategies
Strategies Productivity Journey 01 02 03 04 05 Production Product Secure Continued Distribution Capacity Development Supply Investment Further optimize our Further expand our Continued distribution production and Continued focus on Expansion of Dairy investment to platform, ensuring warehousing new
Slide 34: Strategies (continue)
Strategies (continue) Further optimize our distribution platform, ensuring optimal availability nationwide 01 Within Java Outside Java FOCUS: Increase penetration of modern and traditional FOCUS: Support distributors expanding their reach retail PLANS: PLANS: Focus on distribution in Sumatra and K
Slide 35: Brand Campaign
MENUTRISI NEGERI BRAND CAMPAIGN f) #TEH KOTAK SATU SATUNYA YANG SELALU MENGERTI AKU == \ Ommm Dom Omen Ome RISE ELAMAT DATANG a KOTA BANDUNG'Sg pas eon in ud JARU 7500!
Slide 36: Update warehouse & Factory MM2100
Update warehouse & Factory MM2100 Area: 25,000 m2 Capacity: 36,940 Pallet position System: • ASRS (Automated Storage & Retrieval Systems) • 15 levels Rack FG • 14 Levels Rack RMPM Location : Jln. Irian XV, Blok RR No.15-2, MM2100 Industrial Estate, Cibitung, Factory West Java. 35
Slide 37: Video warehouse – distribution centre
Video warehouse – distribution centre 36
Slide 38: Office & Production
Office & Production Office & Factory : Cimareme - Bandung Barat, West Java The addition of fresh milk receiving tanks 37
Slide 39: Strategies (continue)
Strategies (continue) 03 Continued focus on new product development Joint Venture with Ito En New Product Development in the dairy segment Combining Ito En's significant product advantages with Continue to monitor the market for new our presence and knowledge opportunities for potential product
Slide 40: Strategies (continue)
Strategies (continue) 04 Expansion of Dairy Farming operations to secure supply source Dairy farm JV in Sumatra Model Farm in South Bandung JV 69-31 with PT Karya Putrajaya Persada, Invest in feed cultivation (grass and corn) to a local partnership relationship ensure quality feed at affordable
Slide 41: Corporate Action 2023
MENUTRISI roy ae ULTRAJAYA Corporate Action 2023
Slide 42: Corporate Action 2023
Corporate Action 2023 Withdrawal of Repurchased Shares as Reduction of Capital Repayment of Dividend distribution on Ultrajaya's 2020 net income for fiscal year •In 2020, the Company has repurchased 10% of the Medium Term Notes 2022 Company's outstanding shares or 1,155,352,800 shares (MTN) as treas
Slide 43: Financial Report Highlights
Financial Report 05 Highlights 42
Slide 44: Income Statement
(IDR million) Income Statement FY2021 FY2022 3Q2022 3Q2023 Revenue 6.616.642 7.656.252 5.678.134 6.118.340 COGS (4.241.696) (5.199.164) (3.819.593) (4.130.032) Gross Profit 2.374.946 2.457.088 1.858.541 1.988.308 Selling expenses (748.823) (961.407) (606.986) (631.129) General and administrative exp
Slide 45: Balance Sheet
Balance Sheet As of December 31st As of September 30th (IDR million) 2021 2022 2021 2022 Current Assets Cash 1.598.901 1.248.642 1.424.866 2.347.504 Trade receivables 626.006 617.192 671.761 735.196 Inventories 681.983 1.637.361 1.245.252 1.508.264 Others 1.937.931 1.115.195 2.044.551 165.406 Total
Slide 46: Cash Flow
(IDR million) FY2021 Cash Flow FY2022 3Q2022 3Q2023 Cash flow from (for) operations Net cashflow from operating activities 1.739.876 631.938 603.839 999.552 Interest income 211.255 179.531 103.249 98.514 Interest expense (228.831) (116.298) (93.649) (38.915) Income tax (331.696) (427.799) (316.747)
Slide 47: Disclaimer
Disclaimer These materials are not intended to be a public offering document under Law of the Republic of Indonesia No.8 of 1995 on Capital Markets and its implementing regulations. Persons into whose possession these materials come are required to inform themselves about and to observe, any restric
Slide 48: Thank you
Thank you
PT Ultrajaya Milk Industry & Trading Company — Investor Presentation (December 2023) on 6ix