San Miguel Corporation · PSE:SMC
San Miguel — H1 2003 Earnings Presentation
13 slides from San Miguel's earnings presentation, Aug 7, 2003
Slide 1: Investors' Briefing: First Half 2003 Performance Results
Investors’ BRIEFING First Half 2003 Performance Results 7 August 2003
Slide 2: Performance driven by domestic beer and packaging
Performance driven by domestic beer and packaging SECOND QUARTER FIRST HALF (in million pesos) 2003 2002 % Ch 2003 2002 % Ch Net Sales P38,359 P35,939 7 P72,164 P66,110 9 Operating Income 3,566 3,553 - 6,153 6,077 1 Net Income 1,709 1,894 -10 3,051 3,005 2 San Miguel Corporation
Slide 3: Beer sales momentum sustained
Beer sales momentum sustained SECOND QUARTER FIRST HALF (in million pesos) 2003 2002 % Ch 2003 2002 % Ch Net Sales P 7,547 P 6,676 13 P15,008 P13,338 13 Income from 1,543 1,308 18 3,194 2,573 24 Operations Volume 37.0 33.4 11 73.5 66.5 11 (mil cases) Beer Philippines
Slide 4: Volume contractions due to SARS
Volume contractions due to SARS SECOND QUARTER FIRST HALF (in million US$) 2003 2002 % Ch 2003 2002 % Ch Net Sales $ 48.02 $ 60.95 -21 $ 99.61 $ 114.05 -13 Income from Operations -6.21 -0.74 -743 -8.81 -1.71 -416 Volume 9.78 10.83 -10 18.29 18.95 -4 (mil cases) Beer International
Slide 5: Volume contractions due to SARS: Beer International by market
Volume contractions due to SARS North China Vietnam • Strong sales of Blue Star brand Robust volume performance sustained due to increased promo and outlet penetration South China Indonesia • Lower consumption for on-premise • Weak sales due to industry contraction outlets because of govt ban and
Slide 6: Growth despite a challenging 2nd quarter
Growth despite a challenging 2nd quarter SECOND QUARTER FIRST HALF (in million pesos) 2003 2002 % Ch 2003 2002 % Ch Net Sales P 2,854 P 2,948 -3 P 5,975 P 5,523 8 Operating Income 680 688 -1 1,405 1,373 2 Net Income 458 403 13 925 814 14 Volume 7.50 7.74 -3 15.64 14.46 8 (mil cases) Ginebra San Migu
Slide 7: Continued push for GTM program
Continued push for GTM program SECOND QUARTER FIRST HALF (in million pesos) 2003 2002 % Change 2003 2002 % Change Net Sales P 8,727 P 9,504 -8 P15,409 P15,434 -- Income from Operations 820 1,364 -40 1,104 1,432 -23 Volume (mil cases) 105.4 112.6 -6 188.4 183.4 3 CCBPI – Parent Only
Slide 8: Strong volumes for bottled water and juices
Strong volumes for bottled water and juices SECOND QUARTER FIRST HALF (in million pesos) 2003 2002 % Change 2003 2002 % Change Net Sales P 1,561 P 1,286 21 P 2,812 P 2,332 21 Income from Operations 71 64 11 124 104 19 Volume 35.3 29.8 18 62.8 52.2 20 (mil cases) Phil. Beverage Partners
Slide 9: Back on track after resolution of concentrate sourcing
Back on track after resolution of concentrate sourcing SECOND QUARTER FIRST HALF (in million pesos) 2003 2002 % Change 2003 2002 % Change Net Sales P 2,765 P 2,547 9 P 4,702 P 4,448 6 Income from Operations 302 361 -17 402 511 -21 Volume 43.3 39.8 9 73.1 69.5 5 (mil cases) Cosmos Bottling Corp.
Slide 10: Creditable volume and earnings performance
Creditable volume and earnings performance SECOND QUARTER FIRST HALF (in million pesos) 2003 2002 % Ch 2003 2002 % Ch Net Sales P 4,594 P 3,930 17 P 8,987 P 7,577 19 Income from 808 398 103 1,432 811 77 Operations Volume Growth 14 18 Packaging Group
Slide 11: Food Group staged a rally in 2Q
Food Group staged a rally in 2Q SECOND QUARTER FIRST HALF (in million pesos) 2003 2002 % Ch 2003 2002 % Ch Net Sales P9,907 P9,487 4 P19,158 P17,938 7 Income from 253 392 -36 258 637 -60 Operations Volume Growth 1 5 Food Group
Slide 12: Food Group staged a rally in 2Q: Poultry, Meats, Feeds, Flour, Dairy
Food Group staged a rally in 2Q Poultry Meats • Chicken volume up by 8% • Pork volume volume down 13%; • Revenues at P5.65B Beef up 12%; Value-added up 29% • Operating loss of P381M • Revenue at P2.12B • Op. Inc. of P105M, up 11% Feeds Processed Meats • Feeds volume up 2% • Volume increased by 8% •
Slide 13: Investors' Briefing
Investors’ BRIEFING First Half 2003 Performance Results 7 August 2003 www.sanmiguel.com.ph