Focus Lumber Bhd. · MYX:FLBHD
Focus Lumber Bhd — Q1 2022 Earnings Presentation
17 slides from Focus Lumber Bhd's earnings presentation, May 2022
Slide 1: 1Q 2022 Financial Results Briefing
1Q 2022 FINANCIAL RESULTS BRIEFING 198901011405 (188710-V)
Slide 2: 1Q 2022 financial review agenda
1Q 2022 vs 1Q 2021 financial review ❖ Revenue and earnings review ❖ Manufacturing segment ❖ Other operating income/ expense 1Q 2022 vs 4Q 2021 financial review ❖ Revenue and earnings review ❖ Manufacturing segment ❖ Other operating income/ expense Financial position review Cash flows review
Slide 3: Financial Review
FINANCIAL REVIEW (IN RM MIL)) Revenue Gross profit/ loss Profit/ Loss before tax Profit/ Loss after tax 35.00 32.92 Millions 30.00 25.00 23.65 20.00 15.00 10.33 9.66 10.00 7.40 5.00 - 1Q 2022 1Q 2021 (5.00) (1.79) (3.02) (2.90) 1
Slide 4: Financial Review 1Q 2022 vs 1Q 2021
FINANCIAL REVIEW 1Q 2022 1Q 2021 VARIANCE COMMENT RM mil RM mil RM mil Revenue 32.92 23.65 9.27 Refer page 3,4 Cost of sales (22.59) (25.44) (2.85) Refer page 5 Gross profit/ (loss) 10.33 (1.79) Interest income 0.05 0.05 - Immaterial Other operating income 1.33 1.07 0.26 Refer page 6 Lower Covid-19
Slide 5: Revenue and Earnings Review
REVENUE AND EARNINGS REVIEW 1Q 2022 1Q 2021 COMMENT Revenue (RM mil) Manufacturing 32.92 23.59 Electricity 0.58 0.47 Immaterial to the Group figure Elimination (0.58) (0.41) Total 32.92 23.65 Profit/ (loss) before tax (RM mil) Manufacturing 9.39 (3.33) Electricity 0.03 0.09 Immaterial to the Group f
Slide 6: Manufacturing Segment: Revenue
MANUFACTURING SEGMENT 1Q 2022 1Q 2021 VARIANCE COMMENT Revenue (RM mil) Sale of goods 25.95 21.24 4.71 Selling price increased by 55% Recognition of deferred income b/f from Freight income 6.97 2.35 4.62 31.12.2021 and higher freight rate due to increase in oil price Total 32.92 23.59 Chaos at ports
Slide 7: Manufacturing Segment: Cost of Sales
MANUFACTURING SEGMENT 1Q 2022 1Q 2021 VARIANCE COMMENT Cost of sales (RM mil) Cost of goods 14.82 21.61 (6.79) Lower sales volume Loading charges increased >50% after Selling & distribution costs 0.95 0.94 0.01 change of warehouse operator in August 2021 Recognition of prepaid freight cost b/f Freig
Slide 8: Other Operating Income/Expense
OTHER OPERATING INCOME/ EXPENSE 1Q 2022 1Q 2021 VARIANCE COMMENT RM mil RM mil RM mil Rental income 0.07 0.07 - Immaterial Money market fund 0.22 0.21 0.01 Immaterial Bad debt recovered 0.12 - 0.12 Bad debt recovered from log supplier Foreign exchange 0.34 0.16 0.18 Strengthening of US dollar in 1Q
Slide 9: Financial Review 1Q 2022 vs 4Q 2021
FINANCIAL REVIEW 1Q 2022 4Q 2021 VARIANCE COMMENT RM mil RM mil RM mil Revenue 32.92 55.22 (22.30) Refer page 8,9 Cost of sales (22.59) (37.98) (15.39) Refer page 10 Gross profit 10.33 17.24 Interest income 0.05 0.07 (0.02) Immaterial Other operating income 1.33 2.73 (1.40) Refer page 11 Lower bonus
Slide 10: Revenue and Earnings Review
REVENUE AND EARNINGS REVIEW 1Q 2022 4Q 2021 COMMENT Revenue (RM mil) Manufacturing 32.92 55.22 Electricity 0.58 0.70 Immaterial to the Group figure Elimination (0.58) (0.70) Total 32.92 55.22 Profit before tax (RM mil) Manufacturing 9.39 15.72 Electricity 0.03 0.35 Immaterial to the Group figure Eli
Slide 11: Manufacturing Segment: Revenue
MANUFACTURING SEGMENT 1Q 2022 4Q 2021 VARIANCE COMMENT Revenue (RM mil) Sale of goods 25.95 52.52 (26.57) Lower sales volume and selling price Recognition of deferred income b/f from Freight income 6.97 2.70 4.27 31.12.2021 and higher freight rate due to increase in oil price Total 32.92 55.22 1 bul
Slide 12: Manufacturing Segment: Cost of Sales
MANUFACTURING SEGMENT 1Q 2022 4Q 2021 VARIANCE COMMENT Cost of sales (RM mil) Cost of goods 14.82 33.83 (19.01) Lower sales volume Selling & distribution costs 0.95 1.73 (0.78) Lower sales volume Recognition of prepaid freight cost b/f Freight charges 6.97 2.70 4.27 from 31.12.2021 and higher freigh
Slide 13: Other Operating Income/Expense
OTHER OPERATING INCOME/ EXPENSE 1Q 2022 4Q 2021 VARIANCE COMMENT RM mil RM mil RM mil Rental income 0.07 0.07 - Immaterial Money market fund 0.22 0.24 (0.02) Immaterial Bad debt recovered/ Logs advances of RM1.53 million from reversal of impairment 0.12 1.73 (1.61) one of the suppliers recovered in
Slide 14: Financial Position Review
FINANCIAL POSITION REVIEW MATERIAL CHANGES IN BALANCE SHEET ITEMS 31.03.2022 31.12.2021 VARIANCE COMMENT RM mil RM mil RM mil Lower sales volume – 8,696m3 vs net production Inventories 40.68 30.85 9.83 volume – 12,952m3 in 1Q 2022 Lower sales in March 2022 – RM3.54 million vs Trade and other receiva
Slide 15: Cash Flows Review
CASH FLOWS REVIEW 1Q 2022 COMMENT RM mil Mainly due to collection from trade debtors as at Net cash generated from operating activities 26.66 31.12.2021 Net cash used in investing activities (0.49) Mainly capital expenditure Issuance of share capital from ESOS exercised by Net cash generated from fi
Slide 16: Dividends
DIVIDENDS Interim dividend – 3.00 sen per share (1Q 2021: NIL) Equals to pay out ratio of 40% (EPS of 7.43 sen) Ex date – 30.06.2022 Payment date – 15.07.2022 14
Slide 17: Thank you
Thank you