Jb Foods Ltd. · SGX:BEW
Jb Foods — Shareholder Meeting (April 2018)
23 slides from Jb Foods's shareholder meeting presentation, Apr 30, 2018
Slide 1: AGM Shareholders' Presentation
AGM 30 April 2018 Shareholders’ Presentation 1
Slide 2: Outline
Outline • Disclaimer • Overview • Group Financial Highlights • Sustainable Business Model • Develop market position • JBF’s competitive strength • JB Foods’s Business and Product • Key Takeaways
Slide 3: Disclaimer
Disclaimer This presentation may contain forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from such statements. Such risks and uncertainties include industry and economic conditions, competition, and legal, governmental and
Slide 4: Overview
Overview
Slide 5: Overview
Overview • Over the last few years, we have undertaken strategic initiatives to adapt our business model and expand our organization steadily, either closer to our customers or suppliers. 2014 – Setting up trading office in USA and Indonesia (closer to customer) 2015 – Exercised call option, acquisi
Slide 6: Group Financial Highlights
Group Financial Highlights
Slide 7: Group Financial Highlights – At a glance
Group Financial Highlights – At a glance (In US$'000) FY2017 FY2016 Y-on-Y Change Revenue 295,625 300,564 -2% Gross profit 31,890 13,585 135% EBITDA 24,084 11,248 114% PBT 16,896 4,386 285% FY2017 FY2016 Y-on-Y Change ROE (%) 17% 5% 231% Dividend payout 24% 22% 11% EPS (US cents) 6.2 1.7 265% NAV pe
Slide 8: Sales by Region/ Country
Sales by Region/ Country 2017 2016 2015 Revenue (shipment) USD'000 USD'000 USD'000 America 74,665 25% 77,576 26% 39,990 18% USA and China USA 67,749 23% 59,233 20% 36,907 16% Others 6,916 2% 18,343 6% 3,083 1% has consistently contributed 10% Asia 131,749 45% 129,983 43% 128,526 57% above of Group
Slide 9: Strong growth in sales volume and profit
Strong growth in sales volume and profit 350 20.0 15.0 Revenue drop 2% y-on-y 300 10.0 due to the past-through 250 5.0 effect of lower cocoa bean prices in 2017, however, NET PROFIT 200 0.0 sales volume rose 17% REVENUE 150 -5.0 -10.0 100 -15.0 50 -20.0 PBT grew 285% y-on y 0 -25.0 driven by hig
Slide 10: Strong financial position
Strong financial position 90 51.0 • Well-capitalised with 85 shareholders’ equity at SHAREHOLDERS' EQUITY (USD'M) 48.0 80 45.0 USD84m (approximately SGD111m) as at 31.12.17. NAV PER SHARE (SGD CENTS) 75 42.0 (Exchange rate of USD to SGD: 1.32) 70 39.0 65 36.0 60 • Share price of SGD0.545 (as at 27 A
Slide 11: Profit and Loss Analysis
Profit and Loss Analysis (In US$'000) FY2017 FY2016 Y-on-Y Change Explanatory Revenue 295,625 300,564 (4,939) -2% N1 Cost of sales (263,735) (286,979) 23,244 -8% Gross profit 31,890 13,585 18,305 135% N2 Interest income 114 77 37 48% Other gains, net (1,725) 3,259 (4,984) -153% Foreign exchange gain
Slide 12: Balance Sheet Analysis
Balance Sheet Analysis 2017 2016 2017 2016 Extract of Balance sheet USD'000 USD'000 Variance Remarks Extract of Balance sheet USD'000 USD'000 Variance - Remarks Non-current assets 63,245 59,843 Current liabilities (110,634) (128,359) Property, P&M 55,611 52,709 2,902 6% Trade payables (19,505) (21,1
Slide 13: Cash Flow Analysis
Cash Flow Analysis 2017 2016 Extract of Cash Flow Statement USD'000 USD'000 Explanatory Operating cash flows before working capital changes 23,756 13,214 Lower cocoa bean prices. Improvement Changes in working capital 19,647 (19,744) in working capital management Income tax paid, net (595) (91) Net
Slide 14: Sustainable Business Model
= Sustainable Business Model
Slide 15: Developing Our Global Market Position
Developing Our Global Market Position Sustainable Growth • Robust balance sheet with low net gearing Financial • Available debt capacity for business growth Market Position • Expanding sales to existing customer base, such as in USA and China, etc Operations • Focus on cost efficiency and maximize p
Slide 16: JB Foods' Competitive Strengths
JB Foods’ Competitive Strengths Competitive cost • Management focus on lean management and low overhead costs structure structure Management focus • Efficient and nimble decision making • Focus on product development and customer service quality Loyal and supportive • Mars, Nestle, Mondelez and Hers
Slide 17: Our Products and Processing Plants
Our Products and Processing Plants
Slide 18: Our Products
Our Products Cocoa Beans Cocoa Liquor/Mass Cocoa Cake Cocoa Butter Cocoa Powder 18
Slide 19: PTP, Johor, Malaysia Cocoa Processing Plant
PTP, Johor, Malaysia Cocoa Processing Plant JB COCOA 85,000mt bean equivalent processing facility Commenced operations in 2003 19
Slide 20: Surabaya, Indonesia Cocoa Processing Plant
Surabaya, Indonesia Cocoa Processing Plant JeBe Koko 60,000mt bean equivalent processing facility Commenced operations in 2013 20
Slide 21: Key Takeaways
Key Takeaways
Slide 22: Key Takeaways
Key Takeaways • Industry at healthy growth • Cocoa terminal prices remains volatile (weather, crops yield, supply & demand from grinding and consumptions) • Balanced business growth strategy • Build and expand sustainable customer base • Optimize factory utilization, lowering production costs • Orga
Slide 23: Thank you
Thank you Shareholders’ Presentation 23