Pt Cisarua Mountain Dairy Tbk · IDX:CMRY
Pt Cisarua Mountain Dairy Tbk — FY2024 Earnings Presentation
33 slides from Pt Cisarua Mountain Dairy Tbk's earnings presentation, March 2025
Slide 1: PT Cisarua Mountain Dairy Tbk FY 2024 Results Presentation
PT Cisarua Mountain Dairy Tbk FY 2024 Results Presentation March 2025
Slide 2: Disclaimer
Disclaimer IMPORTANT: You must read the following before continuing. By attending the meeting where this presentation (this “presentation”), is made, or by reading the presentation materials, you are agreeing to maintain absolute confidentiality regarding the information disclosed in this document a
Slide 3: Our presenters today
Our presenters today Our Presenters Today Farell Sutantio Axel Sutantio Bharat Joshi President Director Director Director Group Chief Executive Officer MP Chief Executive Officer Chief Financial Officer
Slide 4: Agenda
Agenda 1 Financial Results 4 2 Operational Performance 12 3 Key Takeaways 25
Slide 5: Financial Results
1 Financial Results
Slide 6: Net sales
Net sales Total Net Sales (Rp bn) Commentary ◼ Total Net Sales saw robust YoY Premium Dairy Premium Consumer Foods growth of 16%, driven by strong 9,026 7,773 gains in premium consumer foods 6,378 and a healthy recovery in dairy 4,096 1,862 FY20A FY21A FY22A FY23A FY24A Premium Dairy Net Sales (Rp b
Slide 7: Gross profit
Gross profit Cost of Sales % Net Sales (Rp bn) Commentary Raw Materials & Packaging Others ◼ In 2024, input prices have stabilized, 59.2% 58.2% 58.4% 54.8% especially for beef and dairy whole milk 51.8% 8.4% powder, compared to the previous year 8.6% 16.9% 7.7% 12.9% ◼ The other costs have increased
Slide 8: Selling & marketing expenses
Selling & marketing expenses Selling & Marketing Expenses (Rp bn) Selling & Marketing Expenses % Net Sales (Rp bn) Advertising, Promotion & Marketing Advertising, Promotion & Marketing Salaries & Allowances Salaries & Allowances Distribution & Administration Distribution & Administration Others Othe
Slide 9: General & administrative expenses
General & administrative expenses General & Administrative Expenses (Rp bn) General & Administrative Expenses % Net Sales (Rp bn) Salaries & Allowances Salaries & Allowances Others Others 208 194 3.5% 109 134 117 1.6% 2.4% 2.3% 79 2.1% 76 1.9% 66 1.5% 1.2% 0.9% 1.2% 35 30 100 1.9% 77 58 1.1% 1.1% 36
Slide 10: Operating & Net profit
Operating & Net profit Operating Profit & Margin (Rp bn) 25% 20% 19% 30% 13% 18% 10% 1,671 1,428 -10% -30% 1,256 1,007 -50% -70% -90% 236 -110% -130% FY20A FY21A FY22A FY23A FY24A Net Profit & Margin (Rp bn) Commentary 19% 17% 16% 17% ◼ Strong top-line growth drove improvements 10% in both operating
Slide 11: Quarterly performance
Quarterly performance A decent QoQ growth despite a high base effect in 2,389 Q2 and Q3 2024 with a rebound in dairy sales in Q4 2,221 Net Sales 2,031 4Q23 3Q24 4Q24 1,600 45% 46% 42% 1,400 1,098 Gross margins improved 1,010 1,200 on the back of better 1,000 857 sales mix and normalise Gross Profit
Slide 12: Balance sheet & cash flows
Balance sheet & cash flows Net Cash Position (Rp bn) Dividend Payout Ratio (%) Commentary Strong balance sheet to support Minimum dividend ◼ Strong net cash position to continue to drive rapid growth strategies and payout ratio target 100% growth initiatives continued dividend payouts of 30.0% Well
Slide 13: Operational Performance
2 Operational Performance
Slide 14: General Trade (GT) and Miss Cimory (MCM) channels
Successful execution of our channel penetration strategies General Trade (“GT”) Sales Force & Distributor Network Outlet Footprint Distributor Partners 8,110 chillers GT Sales Force Headcount 969 deployed to date 852 167,077 400 813 900 350 505 700 120,564 102,917 300 Modern Trade General Trade 250
Slide 15: Raw Material Prices
Raw Material Prices Premium Dairy Premium Consumer Foods Whole Milk Powder Prices (US$/MT)1 Annual Average Beef Purchase Price (US$/MT)2 6 months 7,000 supply of milk 7,000 5,766 powder & raw 6,000 6,000 5,314 beef purchased in 4,596 4,781 5,000 5,000 4,562 advance 3,890 4,000 4,000 3,246 3,207 3,00
Slide 16: Cimory Frozen Yoghurt Campaign: Experience Flavorful Healthy Treats
Cimory Frozen Yoghurt Campaign: Experience Flavorful Healthy Treats
Slide 17: Cimory Yoghurt Stick: Driving Category Sales and Boosting Consumption Frequency
Cimory Yoghurt Stick: Driving Category Sales and Boosting Consumption Frequency Yoghurt Stick Campaign Jakarta Fair 2024 ▪ Launched new flavored extension: Brown Sugar and Peach. ▪ The Fair leveraged our strong brand activation, ▪ Emphasize the product’s affordability and appeal to all age groups, r
Slide 18: #SusuBanyakRasa Campaign: Boosting Brand Awareness for UHT milk
#SusuBanyakRasa Campaign: Continuously Boosting Brand Awareness for UHT milk products
Slide 19: New Product Launch: Cimory Yoghurt Squeeze Bites
New Product Launch: Cimory Yoghurt Squeeze Bites
Slide 20: Flavour Extension: Yoghurt Stick Original & Mango Sticky Rice
Flavour Extension: Yoghurt Stick Original & Mango Sticky Rice in Modern Trade Channel
Slide 21: New Product Launch: Crispy Nugget Spicy
New Product Launch: Crispy Nugget Spicy
Slide 22: Kanzler: Visualizing Our Healthy Brand Presence
Kanzler : Visualizing Our Healthy Brand Presence
Slide 23: Growth supported by launch of new products and SKU extensions
Growth supported by launch of new products and SKU extensions Premium Dairy UHT Milk Yoghurt Stick Squeeze Bites Fruitas Jelly Flavour Extensions New Product New Product Flavour Extensions 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Crispy Chicken Crispy Nugget Crispy Nugget Kanzler Nugg
Slide 24: Investing in channel growth and new product launches
We will maintain our focus on investing in channel growth and new product launches to capture rising consumer demand New Product Affordable size New Product Squeeze Bites Kanzler Singles Crispy Nugget Spicy Channel Growth Launch of New Products Well-positioned to increase our shelf space ➢ Launch of
Slide 25: Growth Strategy
Growth Strategy Organic Topline Growth Volume growth through trialship and repeatability of consumption Market share gains and category Leverage production facilities growth expansion and drive cost efficiencies Investment Continuous marketing investments and channel expansion 24
Slide 26: Key Takeaways
Draft 3 Key Takeaways
Slide 27: Key takeaways
Key takeaways 1 Strong FY24 top-line expansion of 16% YoY, driven primarily by volume-based growth Consumer Foods exhibited exceptional performance of 26% YoY Net Sales growth in 2 FY24, with contributions from all categories Dairy sales grew by 6%, driven by the stabilization of existing products a
Slide 28: Investors' FAQ
Investors’ FAQ 1 If enacted, what is the anticipated effect of Indonesia’s proposed sugar tax on Cimory’s business? 2 How are the existing margins which were elevated in 2024 expected to trend in 2025 ? It is another strong year for consumer foods, what is the outlook for 2025 and how has competitio
Slide 29: Appendix
4 | Appendix
Slide 30: Consolidated statement of profit or loss
Consolidated statement of profit or loss Year Ended 31 December 2021 2022 2023 2024 (Rp Billions) (Rp Billions) (Rp Billions) (Rp Billions) Net Sales 4,095.7 6,378.3 7,772.9 9,025.6 Cost of Sales (2,122.6) (3,709.9) (4,540.2) (4,942.7) Gross Profit 1,973.0 2,668.5 3,232.7 4,082.9 Selling & Marketing
Slide 31: Consolidated statement of financial position
Consolidated statement of financial position Year Ended 31 December 2021 2022 2023 2024 (Rp Billions) (Rp Billions) (Rp Billions) (Rp Billions) Cash and cash equivalents 3,661.8 2,159.3 2,197.4 1,280.4 Total Current Assets 4,832.3 4,025.2 4,539.1 4,394.7 Total Non-Current Assets 771.5 2,198.0 2,507.
Slide 32: Consolidated statement of cash flows
Consolidated statement of cash flows Year Ended 31 December 2021 2022 2023 2024 (Rp Billions) (Rp Billions) (Rp Billions) (Rp Billions) Net cash provided by operating activities 725.6 486.0 1,424.3 1,728.1 Net cash used in investing activities (288.5) (1,475.1) (793.4) (1,929.3) Net cash provided by
Slide 33: Slide 33
PT Cisarua Mountain Dairy — FY2024 Earnings Presentation on 6ix