Universal Robina Corp. · PSE:URC

Universal Robina — 9M 2023 Earnings Presentation

18 slides from Universal Robina's earnings presentation, Nov 10, 2023

  1. Slide 1: 9M CY2023 Unaudited Results Investor Briefing

    9M CY2023 Unaudited Results Investor Briefing November 10, 2023 Irwin C. Lee Pancho M. Del Mundo Jose Miguel T. Manalang President and CEO Chief Investments, Strategy, and Corporate Strategy and Investor Relations Director Services Officer

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Universal Robina Corporation (URC) and plans and objectives of the management of URC. Such forward looking statements involve known and unknown risk

  3. Slide 3: Executive Summary

    Executive Summary • Topline was sustained quarter-on-quarter, but growth index tapering against a higher 2022 base. Q3 2023 sales hit Php39.0 billion, holding quarter-on-quarter and up 6% vs. SPLY. YTD 9M 2023 Sales of Php117.6 billion, up 9% vs. SPLY. • Operating Income continued to outpace topline

  4. Slide 4: Inflation affecting consumer confidence in SEA

    Inflation affecting consumer confidence in SEA Consumers still absorbing higher inflation from last Markets in SEA mostly concerned about topics year; certain markets seeing increases affecting consumer purchasing power 10.0 8.0 Top Concern of each Market 6.0 4.0 Economy 2.0 - Sep-22 Oct Nov Dec Jan

  5. Slide 5: Higher food prices impacting PH household budgets

    Higher food prices impacting PH household budgets Elevated food prices driving up headline …affecting consumer purchasing power inflation in the Philippines… and behavior Philippines Sep 2022 Jul 2023 Aug 2023 Sep 2023 Headline 6.9% 4.7% 5.3% 6.1% Food and Non- Consumers looking into saving Alcoholi

  6. Slide 6: Total URC

    Total URC SALES EBIT NET INCOME In billion pesos In billion pesos In billion pesos +9% +17% +6% 107.9 +6% 117.6 12.6 10.8 +19% 9.7 10.3 +1% 36.8 39.0 3.4 4.0 3.2 3.3 2022 2023 2022 2023 2022 2023 Q3 9M Q3 9M Q3 9M • Total revenue for the 3rd quarter • Operating income up +19% for • 3rd quarter net i

  7. Slide 7: BCF Philippines

    BCF PHILIPPINES Mixed topline by-category but delivering on market shares, customer service and margin recovery +4% • Mixed Q3 performance, with growth in Snacks and Noodles offset by Confectionery supply transition and post-pricing volume softness 54.0 56.2 • Market Shares improving vs. Q1, except

  8. Slide 8: BCF International

    BCF INTERNATIONAL Continued double-digit profit growth while rebuilding topline growth +2% • International Sales (in constant USD) up +6% quarter- on-quarter, although down -5% vs. a high base LY Lorem ipsum SALES 24.4 -7% 24.9 • Vietnam, Myanmar, and Malaysia (ex-contract In billion pesos manufactu

  9. Slide 9: AIC

    AIC Strong Sugar and Feeds performance; recovery in Flour +27% • Strong Q3 growth from SURE and Flour on higher volumes • AIG continues to outperform on higher feeds and petfood volumes despite higher pricing SALES 35.6 28.0 +38% In billion pesos Sales Q3 vs LY 9M vs LY 8.6 11.8 SURE +81% +41% AIG +

  10. Slide 10: Balance Sheet and Cash Flow

    Balance Sheet and Cash Flow Cash and Financial Debt Gearing Ratio In billion pesos 0.22 25.7 0.19 20.7 14.8 12.4 9M 2022 9M 2023 9M 2022 9M 2023 Cash + Financial Assets at FVPL + AFS Financial Debt Cash Position • Balance sheet continues to be In billion pesos healthy with a gearing ratio at 17.4 7.

  11. Slide 11: Continued investments for long term growth

    Continued investments for long term growth South Luzon Quezon • Site development works ongoing • 1st phase operational by Q4 2024 • Additional capacity for flour expansion • Commissioning by Q3 2024 Cebu Batangas • Building construction ongoing • Reconditioning of assets in the next 2 years to incre

  12. Slide 12: Purposeful new products to drive growth

    Purposeful new products to drive growth Sustaining Innovations: Value for Money, Affordable Premium, Health & Wellness Power Brand Extensions New Category Expansions 7+% Share of NPDs to Branded Sales Strong POS sales data, ahead of older players in the market Now #3 in CMYD and driving category gro

  13. Slide 13: Executive Summary

    Executive Summary • Topline sustained quarter-on-quarter but growth index tapering against a higher 2022 base. Q3 2023 sales hit Php39.0 billion, holding quarter-on-quarter and up 6% vs. SPLY. YTD 9M 2023 Sales of Php117.6 billion, up 9% vs. SPLY. • Operating Income continued to outpace topline grow

  14. Slide 14: Thank you!

    yy Thank you!

  15. Slide 15: Income Statement

    Income Statement 9M 2023 9M 2022 (Php Millions) YoY (Unaudited) (Unaudited) NET SALES 117,621 107,873 9% Lorem ipsum Cost of Sales 86,026 79,098 9% GROSS PROFIT 31,594 28,775 10% Operating Expense -18,992 -18,000 6% OPERATING INCOME 12,602 10,775 17% Equity in net income of JVs -65 -326 Finance cost

  16. Slide 16: Balance Sheet

    Balance Sheet 9M 2023 CY 2022 (Php Millions) (Unaudited) (Audited) Lorem ipsum Cash & cash equivalents 12,359 14,191 (including Financial assets at FVPL and FVOCI) Other current assets 72,541 66,069 Property, plant, and equipment 62,384 60,117 Other noncurrent assets 28,556 29,576 TOTAL ASSETS 175,8

  17. Slide 17: Divisional Financials

    Divisional Financials SALES EBIT EBIT MARGIN (Php Millions) 9M 2023 9M 2022 YoY 9M 2023 9M 2022 YoY 9M 2023 9M 2022 bps Branded Consumer Foods 82,023 79,918 3% 8,985 8,389 7% 11.0% 10.5% 46 Philippines 56,169 54,035 4% 6,681 6,327 6% 11.9% 11.7% 19 International 24,918 24,386 2% 2,402 1,962 22% 9.6%

  18. Slide 18: Market Shares

    Market Shares Philippines Thailand MARKET MARKET CATEGORY #1 #2 #3 CATEGORY #1 #2 #3 SHARE SHARE Snacks 35.0% URC 25.3% 5.9% Lorem ipsum Biscuits (new) 15.4% URC 13.8% 7.6% Candies 25.4% URC 14.4% 14.2% Wafers 19.9% 23.7% URC 8.6% Chocolates and 22.5% URC 13.8% 7.7% Coated Wafers Vietnam Biscuits 15

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