Slide 1: SEC Form 17-C Current Report
C02705-2016 SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-C CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) May 12, 2016 2. SEC Identification Number 31171 3. BIR Tax Identification No. 000-168-801
Slide 2: Petron Corporation PSE Disclosure Form 4-30
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely f
Slide 3: Letter to Philippine Stock Exchange
May 12, 2016 PHILIPPINE STOCK EXCHANGE, INC. Disclosure Department 3rd Floor, Philippine Stock Exchange Center Ayala Triangle, Ayala Avenue Makati City Attention: Ms. Janet A. Encarnacion Head, Disclosure Department Subject: SMC Investors’ Briefing for 2016 First Quarter Results Gentlemen: We are fo
Slide 4: Investors' Briefing 2016 First Quarter Results
INVESTORS’ BRIEFING 2016 First Quarter Results 12 May 2016
Slide 5: Significant Developments
SIGNIFICANT DEVELOPMENTS 1 MRT 7 Project 2 SMC Global Power Retail Bond Offering investors’ briefing 2016 first quarter results 2
Slide 6: San Miguel Corporation
SAN MIGUEL CORPORATION IN MILLION PESOS 1Q 2016 1Q 2015 CHANGE Net Sales 159,625 157,751 1% Income from Operations 22,822 16,555 38% Net Income 13,539 6,107 122% EBITDA 31,474 22,427 40% investors’ briefing 2016 first quarter results 3
Slide 7: San Miguel Brewery Inc.
SAN MIGUEL BREWERY INC. IN MILLION PESOS 1Q 2016 1Q 2015 CHANGE Net Sales 23,267 18,883 23% Income from Operations 6,050 5,166 17% Net Income 4,018 3,265 23% investors’ briefing 2016 first quarter results 4
Slide 8: Ginebra San Miguel Inc.
GINEBRA SAN MIGUEL INC. IN MILLION PESOS 1Q 2016 1Q 2015 CHANGE Net Sales 3,934 3,667 7% Income from Operations 188 94 100% Net Income 54 (29) 288% investors’ briefing 2016 first quarter results 5
Slide 9: San Miguel Pure Foods Company Inc.
SAN MIGUEL PURE FOODS COMPANY INC. IN MILLION PESOS 1Q 2016 1Q 2015 CHANGE Net Sales 25,980 25,091 4% Income from Operations 1,776 1,468 21% Net Income 1,218 911 34% investors’ briefing 2016 first quarter results 6
Slide 10: San Miguel Pure Foods: Agro-Industrial
SAN MIGUEL PURE FOODS COMPANY INC. IN MILLION PESOS Agro-Industrial REVENUE INCOME FROM O P E R AT I O N S +6.2% +78.0% 18,301 863 17,227 485 1Q 2015 1Q 2016 1Q 2015 1Q 2016 Vo l u me G ro w t h Poultry & Fresh Meats 8% Feeds 5% investors’ briefing 2016 first quarter results 7
Slide 11: San Miguel Pure Foods: Milling
SAN MIGUEL PURE FOODS COMPANY INC. IN MILLION PESOS Milling REVENUE INCOME FROM O P E R AT I O N S -11.4% -28.1% 2,667 648 2,363 466 1Q 2015 1Q 2016 1Q 2015 1Q 2016 Ave. Selling Prices 12% Ave. Wheat Cost 7% of Basic Flour investors’ briefing 2016 first quarter results 8
Slide 12: San Miguel Pure Foods: Branded Value-Added
SAN MIGUEL PURE FOODS COMPANY INC. IN MILLION PESOS Branded Value - Added REVENUE INCOME FROM O P E R AT I O N S +5.3% +63.2% 5,694 418 5,408 256 1Q 2015 1Q 2016 1Q 2015 1Q 2016 Brand Building investors’ briefing 2016 first quarter results 9
Slide 13: San Miguel Pure Foods: Food Service
SAN MIGUEL PURE FOODS COMPANY INC. Food Service Convenience Pizza Chains stores Fast Food Hotels & Chains Restaurants investors’ briefing 2016 first quarter results 10
Slide 14: San Miguel Pure Foods Financial Position
SAN MIGUEL PURE FOODS COMPANY INC. As of As of IN MILLION PESOS March 2016 December 2015 Total Assets 61,198 61,038 Cash 10,077 9,284 Interest-bearing Debt 2,994 3,641 Current Ratio 1.92x 1.89x Debt-to-Equity Ratio 0.54x 0.56x Interest-bearing Debt to Equity Ratio 0.08x 0.09x investors’ briefing 201
Slide 15: San Miguel Packaging Group
SAN MIGUEL PACKAGING GROUP IN MILLION PESOS 1Q 2016 1Q 2015 CHANGE Net Sales 6,503 5,811 12% Income from Operations 597 479 25% investors’ briefing 2016 first quarter results 12
Slide 16: SMC Global Power Holdings Corp.
SMC GLOBAL POWER HOLDINGS CORP. IN MILLION PESOS 1Q 2016 1Q 2015 CHANGE Net Sales 19,931 19,757 1% Income from Operations 7,310 6,834 7% investors’ briefing 2016 first quarter results 13
Slide 17: Greenfield Power Projects
GREENFIELD POWER PROJECTS M A L I T A 2 X 15 0 M W POWER PLANT L I M A Y 2 X 15 0 M W POWER PLANT investors’ briefing 2016 first quarter results 14
Slide 18: Petron Corp.: Crude Prices and Price Differentials
PETRON CORP. CRUDE PRICES PRICE DIFFERENTIALS VS. DUBAI 120 GASOLINE 10 Differentials vs. Dubai, USD /bbl NAPHTHA 25 5 1Q15 1Q16 0 100 20 Crude Prices, USD/bbl (5) Dubai: $51.8 Dubai: $30.6 15 (10) 80 Brent: $53.9 Brent: $33.9 10 (15) LPG 5 (20) 0 (25) 60 1Q15 2Q15 3Q15 4Q15 1Q16 1Q15 2Q15 3Q15 4Q15
Slide 19: Petron Corp. Operating Performance
PETRON CORP. Operating Performance • Strong sales volumes growth in all major segments SALES VOLUME PERFORMANCE (‘000 BARRELS/DAY) - PH driven by strong growth in gasoline, PH MY diesel and lubricants. 250 225 - MY driven by high Industrial growth 200 175 160.7 173.1 • Declaration of RMP-2 commercia
Slide 20: Petron Corp. Financial Results
PETRON CORP. IN MILLION PESOS 1Q 2016 1Q 2015 CHANGE Net Sales 76,857 86,744 -11% Gross Margins 8,942 5,757 55% Rate 12% 7% Income From Operations 5,764 2,968 94% Net Income 2,758 257 high Volume (in million barrels) 25.3 23.2 9% investors’ briefing 2016 first quarter results 17
Slide 21: San Miguel Holdings Corp. Infrastructure Business
SAN MIGUEL HOLDINGS CORP. INFRASTRUCTURE BUSINESS IN MILLION PESOS 1Q 2016 1Q 2015* CHANGE Net Sales 4,692 4,030 16% Income from Operations 2,429 2,091 16% TRAFFIC VOLUME 1Q 2016 1Q 2015 CHANGE (no. of vehicles) SLEX 295,696 265,500 11% Skyway Stages 1 and 2 245,013 238,001 3% STAR Tollway 46,485 39
Slide 22: San Miguel Holdings Infrastructure Business
SAN MIGUEL HOLDINGS CORP. INFRASTRUCTURE BUSINESS NAIA EXPRESSWAY SKYWAY STAGE 3 BORACAY AIRPORT investors’ briefing 2016 first quarter results 19
Slide 23: San Miguel Holdings Infrastructure Business
SAN MIGUEL HOLDINGS CORP. INFRASTRUCTURE BUSINESS MRT -7 BULACAN BULK WATER investors’ briefing 2016 first quarter results 20
Slide 24: SMC Financial Position
SMC FINANCIAL POSITION As of As of IN BILLION PESOS March 2016 December 2015 Total Assets 1,274 1,246 Cash 201 181 Interest –bearing Debt 500 515 Current Ratio 1.49 1.32x Total Liabilities to Equity Ratio 2.01 2.24x Interest-bearing Debt to Equity Ratio 1.18 1.34x Net-Debt-to-EBITDA 2.16 2.61x inves
Slide 25: Thank You
THANK YOU. VISIT OUR WEBSITES CONTACT US San Miguel Corporation www.sanmiguel.com.ph SMC Investor Relations +632 632 3752 San Miguel Brewery Inc. www.sanmiguelbrewery.com.ph +632 632 3422 Ginebra San Miguel Inc. www.ginebrasanmiguel.com San Miguel Pure Foods Co. Inc. www.sanmiguelpurefoods.com Petro