Mewah International Inc. · SGX:MV4
Mewah International — Q1 2016 Earnings Presentation
17 slides from Mewah International's earnings presentation, May 13, 2016
Slide 1: Q1 2016 Financial Results Summary
13th May, 2016 Q1 2016 Financial Results Summary Mewah International Inc.
Slide 2: Notice
Notice This presentation should be read in conjunction with Mewah International Inc.’s Unaudited Financial Statements for the First Quarter Ended 31 March 2016 lodged on the SGXNET on 13th May, 2016. 2
Slide 3: Performance Summary
Performance Summary In US$ million Net Profit* For the quarter Q1 2016 2.9 Q1 2015 2.2 Q4 2015 1.8 * Profit after tax attributable to equity holders of the Company 3
Slide 4: Performance Summary
Performance Summary Sales volume Net Profit In Thousand MT In US$ million 2.9 1,139.5 1,094.1 965.4 931.6 2.2 846.5 1.8 1.3 1.1 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 4
Slide 5: Income Statement | CPO prices and OM per MT
Income Statement | CPO prices and OM per MT 900 Year 2014 Year 2015 Q1 2016 3,000 800 2,500 700 CPO Price (RM) CPO Prices - Ringgit Malaysia (RM) CPO Price (US$) 2,000 600 OM per MT (US$) Operating Margin (%) 500 4.6% 1,500 CPO Prices - US$ 3.9% 400 3.5% 3.4% 3.5% 2.8% 2.8% 2.9% 300 1,000 1.5% 200 3
Slide 6: Income Statement | Quarterly Comparison
Income Statement | Quarterly Comparison In US$ million, unless stated otherwise Q1 2016 Q1 2015 % change Q4 2015 % change Sales volume (MT'000) 1,094.1 931.6 17.4% 846.5 29.2% Average selling prices (US$) 650.2 743.5 -12.5% 638.3 1.9% Revenue 711.4 692.6 2.7% 540.3 31.7% Operating margin per MT (US$
Slide 7: Sales Volume | Q1 2016
Sales Volume | Q1 2016 In Thousand MT YOY QOQ Consumer Pack Bulk 1,094.1 1,094.1 +17.4% +29.2% 931.6 232.9 232.9 846.5 206.2 +12.9% -15.9% 276.8 861.2 861.2 725.4 +18.7% +51.2% 569.7 Q1 2015 Q1 2016 Q4 2015 Q1 2016 7 7
Slide 8: Revenue | Q1 2016
Revenue | Q1 2016 In US$ million YOY QOQ +17.4% -12.5% +29.2% +1.9% 711.4 692.6 711.4 540.3 +2.7% Total +31.7% Q1 2015 Volume ASP per MT Q1 2016 Q4 2015 Volume ASP per MT Q1 2016 +18.7% -10.6% 512.3 543.4 +51.2% +6.4% 543.4 +6.1% 337.9 Bulk +60.8% Q1 2015 Volume ASP per MT Q1 2016 Q4 2015 Volume ASP
Slide 9: Revenue | Geographical spread | Q1 2016
Revenue | Geographical spread | Q1 2016 Rest of Asia Americas Malaysia/ Middle East 17% 8% Singapore Others 28% 67% 33% Europe 12% Africa 29% Pacific Oceania 6% Total Q1 2016 FY 2015 Malaysia/ Singapore 67% 53% Destination 33% 47% Total 100% 100% Africa 29% 25% Middle East 28% 25% Rest of Asia 17% 2
Slide 10: Revenue | Geographical spread | Q1 2016 by segment
Revenue | Geographical spread | Q1 2016 Q1 2016 FY 2015 Malaysia/ Singapore 85% 71% Americas Middle East 7% Destination 15% 29% 48% Europe Total 100% 100% Malaysia/ Bulk Others 11% Singapore Middle East 48% 37% 15% Pacific Oceania 85% Other Asia 6% Rest of Asia 28% 38% 28% Americas 7% 14% Europe 11%
Slide 11: Operating margin | Q1 2016
Operating margin | Q1 2016 In US$ million, unless stated otherwise YOY QOQ +4.2 -3.3 +7.2 -6.6 24.3 25.2 24.6 25.2 +17.4% -11.2% +29.2% -20.3% Total +4.0% +2.4% Q1 2015 Volume OM per MT Q1 2016 Q4 2015 Volume OM per MT Q1 2016 +2.7 -0.8 16.3 +1.4 +12.1 16.3 14.4 +18.7% -5.0% +51.2% +285.7% Bulk 2.8
Slide 12: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 31 Dec 2015 31 Mar 2016 847.0 847.0 807.7 807.7 Current Current 33.7% net debt Working net debt Working Capital 295.8 34.9% Capital 272.5 476.6 488.5 Non-current net debt Non-current net debt 5.7% 50.5 6.3% 47.9 Equity Equity Long-term 484.7 60.0% Long-term 503
Slide 13: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 847.0 847.0 Current net debt 295.8 60.6% Working capital 488.5 57.7% 192.7 Equity 39.4% 47.9 Non-current debt Long-term 13.4% investments Equity 42.3% 358.5 310.6 86.6% Investment Capital Actual Actual Debt / Equity Ratio Q1 2016 FY 2015 Objective Long-term inv
Slide 14: Balance Sheet | Liquidity
Balance Sheet | Liquidity Gross debt to equity Non-current debt repayment schedule Year 2 19.2 Year 3 17.2 0.84 Year 4 9.1 0.76 0.62 0.48 Year 5 2.4 2013 2014 2015 Q1 2016 Total 47.9 In US$ million Net debt to equity Trade finance facilities utilisation Utilised % Facility 638.3 Utilised 340.7 53.4%
Slide 15: Cycle time
Cycle time Inventory days Trade receivable days 49 40 34 31 33 34 39 31 2013 2014 2015 Q1 2016 2013 2014 2015 Q1 2016 Trade payable days Cycle time 2013 2014 2015 Q1 2016 (14) (15) (17) (17) 68 64 47 48 2013 2014 2015 Q1 2016 Cycle time is calculated as Inventory days + Trade receivable days – Trade
Slide 16: Cash Flows Statement | Summary
Cash Flows Statement | Summary In US$ million Q1 2016 Q1 2015 Operating cash flows before working capital changes 3.7 10.6 Changes in operating assets and liabilities (9.5) 92.7 Net interest and income tax payment (5.1) (2.2) Net cash flows (used in)/from operating activities (10.9) 101.1 Net cash f
Slide 17: Thank you
Thank you Any questions, contact: Rajesh Chopra, Group Chief Financial Officer Ph: (65) 6829 5255| mail: rajesh@mewahgroup.com 17