Bumitama Agri Ltd. · SGX:P8Z
Bumitama Agri — 9M 2023 Earnings Presentation
18 slides from Bumitama Agri's earnings presentation, November 2023
Slide 1: Bumitama Agri Quarterly Performance: First Nine Months of 2023
BUMITAMA AGRI Excellence through discipline Quarterly Performance First Nine Months of 2023
Slide 2: Table of Contents
Table of Contents Executive Summary Performance Highlights Performance Trend Appendix 1
Slide 3: Executive Summary – First Nine Months of 2023
Executive Summary – First Nine Months of 2023 The rising trend in quarterly performance continues ● Higher QoQ, over the already strong performance recovery in 2Q23 o Revenue, net profit, and EBITDA in 3Q23 climbed 10%, 15%, and 18% respectively, versus 2Q23 o Revenue from CPO and PK climbed 10% and
Slide 4: Table of Contents
Table of Contents Executive Summary Performance Highlights Performance Trend Appendix 3
Slide 5: FFB Harvest
FFB Harvest FFB yield touched record-high in July as productivity averaged higher in 3Q23 period Total Internal External -4% -7% 6% Thousand tons Thousand tons Thousand tons 3,010 1,200 2,788 1,129 4,139 3,988 10% 19% 9% 2% 975 1,067 1,049 1,067 417 460 386 460 2Q23 3Q23 3Q22 3Q23 9M22 9M23 2Q23 3Q2
Slide 6: Income Statement Highlights
Income Statement Highlights Profitability improved further in 3Q23, reaching 38% versus 30% average in the past 40 quarters Revenue Gross Profit Net Profit* -6% IDR billion IDR billion IDR billion -25% -27% 12,559 5,052 2,834 11,803 3,771 2,062 20% 26% 33% 15% 1,618 1,618 874 874 1,342 1,279 760 655
Slide 7: Crude Palm Oil (CPO)
Crude Palm Oil (CPO) 3Q23 saw the first QoQ fall in ASP performance, but it is also the first YoY positive 8% Production Volume Oil Extraction Rates -2% 0.3% % Thousand tons 924 901 22.3 22.6 12% 10% CPO IDR 10,801 bn 351 351 315 321 92% 2Q23 3Q23 3Q22 3Q23 9M22 9M23 9M22 9M23 Revenue Contribution A
Slide 8: Palm Kernel (PK)
Palm Kernel (PK) Market condition of laurics oil remains uneventful into 3Q23 due to surplus of subtitutes Production Volume Kernel Extraction Rates PK IDR 1,002 bn -5% -0.1% % Thousand tons 8% 194 4.7 4.6 185 15% 10% 73 66 73 64 2Q23 3Q23 3Q22 3Q23 9M22 9M23 9M22 9M23 Revenue Contribution Average S
Slide 9: Table of Contents
Table of Contents Executive Summary Performance Highlights Performance Trend Appendix 8
Slide 10: Strong Fundamentals – Financial Performance
Strong Fundamentals – Financial Performance Significant uptrend in palm oil price over the last five years is a welcomed booster to performance 18 6.0 IDR trillions MYR thousand (per ton) 16 CAGR: 14% 5.0 14 CAGR: 8% 12 4.0 10 3.0 8 6 2.0 4 CAGR: 12% 1.0 2 CAGR: 12% 0 0.0 1Q18 2Q18 3Q18 4Q18 1Q19 2Q
Slide 11: Strong Fundamentals – Production Performance
Strong Fundamentals – Production Performance Rising production, with minimized fluctuations, has paved the way for higher shareholder value 4,500 Thousand tons CAGR: 6% 4,000 3,500 3,000 2,500 2,000 1,500 CAGR: 7% 1,000 500 - 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21
Slide 12: Strong Fundamentals – Productivity
Strong Fundamentals – Productivity Excellence through discipline is the driving force behind our productivity resilience over the years despite adverse weather conditions 25 6 5 20 4 15 Ton per ha Ton per ha 3 10 2 5 1 0 0 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q
Slide 13: Rising Fundamentals – Gearing Ratio
Rising Fundamentals – Gearing Ratio Robust financial performance in the past five years has paved the way for significant deleveraging 0.8x 0.7x 0.6x 0.5x 0.4x 0.3x 0.2x 0.1x 0.0x 4Q18 4Q19 4Q20 4Q21 4Q22 3Q23 Gearing ratio Net gearing ratio 12
Slide 14: Table of Contents
Table of Contents Executive Summary Performance Highlights Performance Trend Appendix 13
Slide 15: Area of Operations
Area of Operations Considerable amount of our planted surface is strategically located in areas of good precipitation and temperature, well suited for oil palm cultivation Consolidated Riau West Kalimantan Central Kalimantan Total planted area: 187k ha ● 2k ha planted area ● 80k ha planted area ● 10
Slide 16: Total Planted Area
Total Planted Area Planted area of about 187k hectares, consisting of nucleus estates covering 131k hectares, and plasma estates covering 56k hectares; average age is 13.3 years old as of 1 January 2023 Producing 97.1% Immature 2.9% As of 30 September 2023 15
Slide 17: Contact Us
Contact Us If you need further information, please email us at investor.relations@bumitama-agri.com Bumitama Agri Ltd. 10 Anson Road #11-19 International Plaza Singapore 079903 Tel: +65 6222 1332 Fax: +65 6222 1336 Website: www.bumitama-agri.com QR code for our website 16
Slide 18: Thank You / Important Notice
THANK YOU Important Notice This presentation has been prepared by Bumitama Agri Ltd. (“Bumitama” or the “Company”) for informational purposes only. It is not to be constructed as investment or financial advice and does not constitute an offer or an invitation to invest in the Company. This presentat