Del Monte Pacific Limited · SGX:D03
Del Monte Pacific — Shareholder Meeting (September 2020)
9 slides from Del Monte Pacific's shareholder meeting presentation, Sep 17, 2020
Slide 1: Del Monte Pacific FY2020 Results for AGM
T N O U R I S H I N G FA M I L I E S . E N R I C H I N G L I V ES . EVERY DAY. ® D E L M O NT E PACIFIC F Y 2 020 R E S U L T S F O R A G M 17 September 2020 NOURISHING FAMILIES. ENRICHING LIVES. EVERY DAY. ®
Slide 2: Contents
CONTENTS ▪ Full Year FY2020 Results ▪ DMFI Refinancing ▪ DMPI Private Placement ▪ Dividends ▪ Outlook 2
Slide 3: FY2020 Highlights
N O U R I S H I N G FA M I L I E S . E N R I C H I N G L I V ES . EVERY DAY. ® FY2020 HIGHLIGHTS ▪ Group sales of US$2.1bn, up 9% on higher sales across all markets – USA (+9%), Philippines (+10%), S&W (+9%) ▪ EBITDA of US$142.2m, down 1% and net loss of US$81.4m due to one-off expenses from 4 plant
Slide 4: DMPL FY2020 Results – As Reported
N O U R I S H I N G FA M I L I E S . E N R I C H I N G L I V ES . EVERY DAY. ® DMPL FY2020 RESULTS – AS REPORTED In US$m FY2019 FY2020 Chg (%) Comments Turnover 1,954.8 2,128.3 +8.9 Higher sales in USA, Philippines and S&W Asia Gross profit 395.0 452.2 +14.5 Higher volume, better sales mix, higher p
Slide 5: DMPL FY2020 One-Off Expense/(Income)
N O U R I S H I N G FA M I L I E S . E N R I C H I N G L I V ES . EVERY DAY. ® DMPL FY2020 ONE-OFF EXPENSE/(INCOME) *Other Income/Expense **In preparation for its capital raising initiatives, DMPL’s Philippine subsidiary, Del Monte Philippines, Inc (DMPI), declared a dividend to its parent in the fi
Slide 6: Subsequent Event - DMFI Refinancing
N O U R I S H I N G FA M I L I E S . E N R I C H I N G L I V ES . EVERY DAY. ® SUBSEQUENT EVENT - DMFI REFINANCING ▪ On 15 May 2020, we completed the refinancing of DMFI and raised new financing of US$1.3bn: o US$500m five-year bond issue at 11.875% p.a. o US$450m three-year Asset-Based Loan o US$37
Slide 7: Private Equity Investment in DMPI
N O U R I S H I N G FA M I L I E S . E N R I C H I N G L I V ES . EVERY DAY. ® PRIVATE EQUITY INVESTMENT IN DMPI ▪ We completed the private placement of DMPL’s 12% stake in Del Monte Philippines, Inc (DMPI) for US$120m to a private equity firm ▪ Implied equity value of US$1bn for DMPI attests to its
Slide 8: Dividends
N O U R I S H I N G FA M I L I E S . E N R I C H I N G L I V ES . EVERY DAY. ® DIVIDENDS In view of the successful private placement of a 12% stake in Del Monte Philippines and the net gain of US$77m, the Board approved a special dividend of 1.54 US cents (US$0.0154) per share to Common Shareholders
Slide 9: Outlook
N O U R I S H I N G FA M I L I E S . E N R I C H I N G L I V ES . EVERY DAY. ® OUTLOOK ▪ To meet sustained demand for our trusted, healthy shelf-stable products, we will continue to optimise our production facilities while implementing strict safety measures ▪ Our strategy is to strengthen the core
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