Mewah International Inc. · SGX:MV4
Mewah International — FY2020 Earnings Presentation
23 slides from Mewah International's earnings presentation, Feb 26, 2021
Slide 1: FY 2020 Financial Results Summary
FY 2020 FINANCIAL RESULTS SUMMARY 26TH FEBRUARY 2021 0 MEWAH INTERNATIONAL INC.
Slide 2: Contents
Cash Flow Statement Balance Sheet Income Statement Performance Summary CONTENTS 1
Slide 3: FY 2020 Performance Summary
FY 2020 PERFORMANCE SUMMARY 2
Slide 4: Performance Summary
PERFORMANCE SUMMARY NET PROFIT* In US$ million 86.5 11.6 FY 2019 FY 2020 * Profit after tax attributable to equity holders of the Company 3
Slide 5: CPO Prices vs OM per MT
CPO PRICES vs OM PER MT 2019 2020 — CPO Prices (USD) 1,000 — CPO Prices (MYR) 4,000 --- Operating Margin % 900 3,600 CPO Prices - Ringgit Malaysia 800 3,200 CPO Prices - US$ 700 2,800 600 2,400 500 7.0% 2,000 400 1,600 300 3.7% 1,200 200 800 49.9 100 400 23.1 - - FY2019 FY2020 4
Slide 6: FY 2020 Income Statement
FY 2020 INCOME STATEMENT 5
Slide 7: FY 2020 Income Statement
FY 2020 INCOME STATEMENT In US$ million, unless stated otherwise FY 2020 FY 2019 % change Sales volume (MT'000) 4,821.2 4,566.0 5.6% Average selling price ("ASP") per MT (US$) 714.7 617.0 15.8% Revenue 3,445.9 2,817.3 22.3% OM per MT (US$) 49.9 23.1 116.0% Operating margin ("OM") 240.5 105.4 128.3%
Slide 8: Segmental Performance
SEGMENTAL PERFORMANCE FY 2020 BULK CONSUMER PACK FY 2020 FY 2019 Change FY 2020 FY 2019 Change Sales Volume (MT’000) 3,825.3 3,454.6 10.7% 995.9 1,111.4 -10.4% Average Selling Price per MT (US$) 692.1 576.5 20.1% 801.8 743.0 7.9% Revenue (US$’million) 2,647.3 1,991.5 32.9% 798.5 825.8 -3.3% Operatin
Slide 9: Sales Volume & Revenue
SALES VOLUME & REVENUE FY 2020 In US$ million, unless stated otherwise Change Total FY 2020 FY 2019 % Sales Volume (MT’000) 4,821.2 4,566.0 5.6% 2,817.3 +5.6% +15.8% 3,445.9 Average Selling Price 714.7 617.0 15.8% per MT (US$) +22.3% Revenue 3,445.9 2,817.3 22.3% FY 2019 Volume ASP per MT FY 2020 8
Slide 10: Segmental Sales Volume & Revenue
SEGMENTAL SALES VOLUME & REVENUE FY 2020 In US$ million, unless stated otherwise BULK CONSUMER PACK 1,991.5 +10.7% +20.1% 2,647.3 825.8 -10.4% +7.9% 798.5 +32.9% -3.3% FY 2019 Volume ASP per MT FY 2020 FY 2019 Volume ASP per MT FY 2020 Change Change Bulk FY 2020 FY 2019 Consumer Pack FY 2020 FY 2019
Slide 11: Geographical Spread - Revenue (Total)
GEOGRAPHICAL SPREAD - REVENUE TOTAL FY 2020 FY 2019 Europe, 4% Americas, 2% Europe, 8% Americas, 2% Rest of Asia, Pacific Oceania, 2% Pacific Oceania, 2% Rest of Asia, 24% 17% Middle East, Middle East, 10% 6% Malaysia/ Malaysia/ Singapore, 51% Africa, 10% Singapore, 52% Africa, 10% Based on Billing
Slide 12: Geographical Spread - Revenue (Bulk)
GEOGRAPHICAL SPREAD - REVENUE BULK FY 2020 FY 2019 Europe, 2% Europe, 7% Rest of Asia, Rest of Asia, Americas, 1% Americas, 0.3% 25% 17% Pacific Oceania, 1% Pacific Oceania, 1% Middle East, Middle East, 7% 4% Africa, 3% Malaysia/ Malaysia/ Singapore, 65% Singapore, 67% Based on Billing address of th
Slide 13: Geographical Spread - Revenue (Pack)
GEOGRAPHICAL SPREAD - REVENUE PACK FY 2020 FY 2019 Europe, 8% Europe, 11% Rest of Asia, Americas, 6% Americas, 6% Rest of Asia, 19% 17% Pacific Oceania, 5% Pacific Oceania, 5% Malaysia/ Malaysia/ Singapore, 11% Singapore, 13% Middle East, Middle East, 13% 16% Africa, 34% Africa, 36% Based on Billing
Slide 14: Operating Margin
OPERATING MARGIN FY 2020 In US$ million, unless stated otherwise Change Total FY 2020 FY 2019 % Sales Volume 105.4 240.5 4,821.2 4,566.0 5.6% (MT’000) +5.6% +116.0% Operating Margin per MT 49.9 23.1 116.0% (US$) +128.3% Operating 240.5 105.4 128.3% Margin FY 2019 Volume OM per MT FY 2020 13
Slide 15: Operating Margin by Segment
OPERATING MARGIN FY 2020 In US$ million, unless stated otherwise BULK CONSUMER PACK 45.7 +10.7% +218.2% 160.5 59.7 -10.4% +49.5% 80.0 +251.2% +34.0% FY 2019 Volume OM per MT FY 2020 FY 2019 Volume OM per MT FY 2020 Change Change Bulk FY 2020 FY 2019 Consumer Pack FY 2020 FY 2019 % % Sales Volume (MT
Slide 16: FY 2020 Balance Sheet
FY 2020 BALANCE SHEET 15
Slide 17: Source & Application of Capital
SOURCE & APPLICATION OF CAPITAL In US$ million 31 Dec 2020 31 Dec 2019 861.6 861.6 816.3 816.3 Current net debt Current net debt 36.2% 170.5 20.9% Working 311.9 Working Non-current net debt Capital 35.5 4.3% Capital 396.2 367.8 Non-current net debt 27.1 3.1% Equity Equity Long-term 74.8% Long-term 6
Slide 18: Source & Application of Capital
SOURCE & APPLICATION OF CAPITAL In US$ million 31-Dec-20 % 31-Dec-19 % Change Long-term investments 448.5 54.9% 465.4 54.0% -3.6% Working capital 367.8 45.1% 396.2 46.0% -7.2% Total investments 816.3 861.6 -5.3% Equity 610.3 74.8% 522.6 60.7% 16.8% Gross debt 284.2 400.8 -29.1% Cash 78.2 61.8 26.5%
Slide 19: Liquidity
LIQUIDITY In US$ million Cash & cash equivalents Term loan repayment schedule Current debt Non-current debt FY 2021 13.6 Gross debt and FY 2022 8.9 net debt FY 2023 Gross debt, 404 9.2 Gross debt, 451 Gross debt, 401 Net debt, 335 Net debt, 402 Net debt, 339 Gross debt, 284 FY 2024 8.1 Net debt, 206
Slide 20: Cycle Time
CYCLE TIME* Inventory days Trade receivable days 49 52 44 34 34 31 32 30 27 FY 2017 FY 2018 FY 2019 FY 2020 FY 2017 FY 2018 FY 2019 FY 2020 Trade payable days Cycle time FY 2017 FY 2018 FY 2019 FY 2020 60 61 59 48 (17) (16) (17) (18) (20) FY 2017 FY 2018 FY 2019 FY 2020 * Cycle time is calculated as
Slide 21: FY 2020 Cash Flow Statement
FY 2020 CASH FLOW STATEMENT 20
Slide 22: Cash Flow Statement
CASH FLOW STATEMENT In US$ million FY 2020 FY 2019 Operating cash flows before working capital changes 166.2 33.8 Changes in operating assets and liabilities 7.4 105.7 Net interest and income tax payment (12.5) (15.3) Net cash flows from operating activities 161.2 124.1 Net cash flows used in financ
Slide 23: Thank you
Thank you Any questions, contact: Rajesh Shroff, Chief Financial Officer Ph: (65) 6829 5255| mail: ir@mewahgroup.com 22