Yeo Hiap Seng Ltd · SGX:Y03
Yeo Hiap Seng — Shareholder Meeting (April 2022)
53 slides from Yeo Hiap Seng's shareholder meeting presentation, Apr 29, 2022
Slide 1: Results of the Sixty-Sixth Annual General Meeting
YEO HIAP SENG LIMITED (Incorporated in Singapore) (Company Registration No.: 195500138Z) RESULTS OF THE SIXTY-SIXTH ANNUAL GENERAL MEETING HELD BY ELECTRONIC MEANS ON 29 APRIL 2022 Yeo Hiap Seng Limited (the “Company”) is pleased to announce, pursuant to Rule 704(16) of the Listing Manual of the Sin
Slide 2: Results of the poll: special business
For Against As a As a percentage percentage Total number of total of total of shares number of number of represented votes for votes for by votes for and and and against against the against the Resolution number and details the relevant Number resolution Number resolution resolution of Shares (%) of
Slide 3: Yeo Hiap Seng Annual General Meeting
YEO HIAP SENG ANNUAL GENERAL MEETING
Slide 4: Annual General Meeting
ANNUAL GENERAL MEETING Samuel Koh
Slide 5: Important Notice
IMPORTANT NOTICE Information in this presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and
Slide 6: Agenda
AGENDA 01 FY2021 FINANCIAL AND BUSINESS HIGHLIGHTS 02 PURPOSE, VISION AND STRATEGIC ROADMAP 03 OUTLOOK FOR FY2022
Slide 7: Highest Yeo's F&B Revenue Since 2016, Net Loss improved $7.1MM
FY2021 FINANCIAL HIGHLIGHTS Highest Yeo’s F&B Revenue Since 2016, Net Loss improved $7.1MM S$ million • Core Yeo’s F&B revenue highest FY2021 FY2020 Y/Y level since 2016 and grew 10.9% Y/Y REVENUE 337.9 321.8 5.0% • Net Loss narrowed by $7.1M CORE YEO’S F&B 304.1 274.3 10.9% • GP margin higher by 1.
Slide 8: Robust revenue growth across most markets despite COVID
FY2021 FINANCIAL HIGHLIGHTS: Revenue By Key Markets / Segments Robust revenue growth across most markets despite COVID In S$ million / % of Group Revenue Malaysia 148.7 35.6 41.9 33.8 48.4 29.5 FY2021 12% 10% 14% 9% China 44% 11% Singapore 132.1 30.3 40.6 47.5 41.0 30.3 Non-Yeo's FY2020 41% 9% 13% 1
Slide 9: Strong Balance Sheet
FY2021 FINANCIAL HIGHLIGHTS Strong Balance Sheet S$ million 31 DEC 2021 31 DEC 2020 Total assets 685 683 Cash and cash equivalents 231 264 Strong balance sheet with Trade and other receivables-current 73 61 $231M in cash and cash equivalents to fund Yeo’s next Inventories 57 50 stage of growth and v
Slide 10: Cash Flows
FY2021 FINANCIAL HIGHLIGHTS Cash Flows S$ million 31 DEC 2021 31 DEC 2020 • Net cash outflow from operating activities was mainly due to Beginning cash and cash equivalents 264.2 295.8 Chinese New Year in 2022 taking place earlier, which required Net cash flow (used in)/from operating (0.2) 8.3 stoc
Slide 11: Key Business Highlights in 2021
KEY BUSINESS HIGHLIGHTS IN 2021 CORE YEO’S FOOD AND BEVERAGE HIGHEST LEVEL SINCE 2016 HOME MARKET: • STRENGTHENED ASD LEADERSHIP IN MALAYSIA; • MAINTAINED ASD LEADERSHIP IN SINGAPORE ASD = Asian Specialty Drinks
Slide 12: Key Business Highlights in 2021: International Markets
KEY BUSINESS HIGHLIGHTS IN 2021 INTERNATIONAL MARKETS: BROAD BASE AND ACCELERATED GROWTH OPTIMIZED SKUs PORTFOLIO
Slide 13: Key Business Highlights in 2021: New Products Innovation
KEY BUSINESS HIGHLIGHTS IN 2021 NEW PRODUCTS INNOVATION • Combi 1 Litre pack launch • New Chrysanthemum Tea variants • H-TWO-O (upgraded formulation and packaging) • Cheng Bou Leong Herbal Tea relaunch
Slide 14: New Ventures & Strategic Partnerships
KEY BUSINESS HIGHLIGHTS IN 2021 NEW VENTURES & STRATEGIC PARTNERSHIPS Oatly Partnership: Strategic investment Started supplying to China in food tech start up and other Asia Pacific Next Gen Foods markets.
Slide 15: Giving Back to Our Communities
GIVING BACK TO OUR COMMUNITIES Yeo’s handed out food Yeo’s Cambodia contributed to the In China and Cambodia, Yeo’s beverages hampers to flood victims during building of a second kindergarten, were distributed to frontline epidemic Malaysia’s severe flood serving the people living on the south- prev
Slide 16: Recognition
RECOGNITION Recognized for efforts in upholding high standards of Corporate Governance: INCLUDED BY SGX IN WON THE MOST ITS SGX TRANSPARENT COMPANY FAST TRACK AWARD 2021 (CONSUMER PROGRAMME STAPLES) AT THE SIAS INVESTORS’ CHOICE AWARD
Slide 17: 2021 Recognition
2021 RECOGNITION Marketing Excellence Awards
Slide 18: Our Purpose and Our Vision
OUR PURPOSE Nourishing every home with natural goodness across generations OUR VISION To be the leading Asian company in bringing innovative food and beverage products with natural goodness to our consumers
Slide 19: Our Strategic Roadmap to Build a Profitable and Sustainable Business
OUR STRATEGIC ROADMAP TO BUILD A PROFITABLE AND SUSTAINABLE BUSINESS 1. GROW CORE YEO’S BEVERAGE AND FOOD PROFITABLY VIA DRIVING: a. Mix of higher margin products and channels b. Further SKU rationalization c. Revenue Growth Management including net price increase d. More cost optimization and busin
Slide 20: Our Strategic Roadmap to Build a Profitable and Sustainable Business
OUR STRATEGIC ROADMAP TO BUILD A PROFITABLE AND SUSTAINABLE BUSINESS 2. EXECUTE DIFFERENTIATED 3. CHOICEFUL INVESTMENT TO: GEOGRAPHICAL STRATEGY: a. Strengthen Master Brand and a. Turnaround business build more Consumption margins in Home Occasions Markets of Malaysia and Singapore b. Rejuvenate Man
Slide 21: Outlook for FY2022
ANNUAL GENERAL MEETING: OUTLOOK FOR FY2022 1. To continue to lay firm foundations for the future including brand building 2. Business environment to be marked by high operating cost inflation, supply chain uncertainty and Covid impact in China 3. To focus on driving core Yeo’s F&B growth, net price
Slide 22: Questions & Answers
QUESTIONS & ANSWERS
Slide 23: Questions from Shareholders
@WESTNOINS FROM SHAREHOLDERS YEO HIAP SENG LIMITED ANNUAL GENERAL MEETING
Slide 24: Question One
QUESTION ONE Will the Company consider investing more time into new forms of marketing methods (e.g. TikTok) to reach out to a younger generation of users?
Slide 25: Question One Response
QUESTION RESPONSE ONE The Group has been investing more to reach out to a younger generation of consumers. We have adopted a digital-first approach Will the Company consider investing more time into to advertising since our target audience, especially the younger new forms of marketing Gen Z and Mil
Slide 26: Questions from SIAS
WESTON S FROM SIAS
Slide 27: Question Two
QUESTION On 5 April 2022, the Company announced the retrenchment TWO of 32 staff in Singapore as part of the Group’s long-term plan to transform its global business. The Company has said that this was due to changing consumer patterns and retail conditions in addition to increasing cost pressures. O
Slide 28: Question Two Response
QUESTION RESPONSE TWO Yes. The Group has been actively carrying out skills upgrade through training and development for the Company as a Other than providing the whole. Wherever possible, internal opportunities for the affected staff with separation packages, career affected staff have been prioriti
Slide 29: Question Three
QUESTION Oatly: What are some of the milestones achieved by the THREE Group in the tie-up with Oatly? Since the first batch of oat milk began in July 2021, has the Group ramped up its production? When will the Group be supplying Oatly to more markets?
Slide 30: Question Three Response
QUESTION RESPONSE THREE The joint production facility investment with Oatly commenced commercial production in July 2021. The Group has achieved Oatly: What are some of the BRC certification for our Oatly operations in Singapore at the milestones achieved by the Group in the tie-up with end of 2021
Slide 31: Adoption of Directors' Statement, Audited Financial Statements and Auditors' Report
ORDINARY RESOLUTION ONE ADOPTION OF DIRECTORS’ STATEMENT, AUDITED FINANCIAL STATEMENTS AND AUDITORS’ REPORT
Slide 32: Adoption of Directors' Statement, Audited Financial Statements: Votes
ORDINARY RESOLUTION ADOPTION OF DIRECTORS’ STATEMENT, AUDITED FINANCIAL STATEMENTS AND ONE AUDITORS’ REPORT 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 440,856,113 45
Slide 33: Declaration of Final Dividend
ORDINARY RESOLUTION TWO DECLARATION OF FINAL DIVIDEND
Slide 34: Declaration of Final Dividend: Votes
ORDINARY RESOLUTION DECLARATION OF FINAL DIVIDEND TWO 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 440,856,113 45
Slide 35: Approval of Directors' Fees
ORDINARY RESOLUTION THREE APPROVAL OF DIRECTORS’ FEES
Slide 36: Approval of Directors' Fees: Votes
ORDINARY RESOLUTION APPROVAL OF DIRECTORS’ FEES THREE 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 440,856,113 45
Slide 37: Re-election of Ms Luo Dan as Director
ORDINARY RESOLUTION FOUR RE-ELECTION OF MS LUO DAN AS DIRECTOR
Slide 38: Re-election of Ms Luo Dan as Director: Votes
ORDINARY RESOLUTION RE-ELECTION OF MS LUO DAN AS DIRECTOR FOUR 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 440,856,113 45
Slide 39: Re-election of Dr Lim Su Lin as Director
ORDINARY RESOLUTION FIVE RE-ELECTION OF DR LIM SU LIN AS DIRECTOR
Slide 40: Re-election of Dr Lim Su Lin as Director: Votes
ORDINARY RESOLUTION RE-ELECTION OF DR LIM SU LIN AS DIRECTOR FIVE 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 440,856,113 45
Slide 41: Re-election of Ms Goi Lang Ling Laureen as Director
ORDINARY RESOLUTION SIX RE-ELECTION OF MS GOI LANG LING LAUREEN AS DIRECTOR
Slide 42: Re-election of Ms Goi Lang Ling Laureen: Votes
ORDINARY RESOLUTION RE-ELECTION OF MS GOI LANG LING LAUREEN AS DIRECTOR SIX 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 440,856,113 45
Slide 43: Re-appointment of KPMG LLP as Auditors
ORDINARY RESOLUTION SEVEN RE-APPOINTMENT OF KPMG LLP AS AUDITORS AND AUTHORITY FOR THE DIRECTORS TO FIX THEIR REMUNERATION
Slide 44: Re-appointment of KPMG LLP as Auditors: Votes
ORDINARY RESOLUTION RE-APPOINTMENT OF KPMG LLP AS AUDITORS AND AUTHORITY FOR THE DIRECTORS SEVEN TO FIX THEIR REMUNERATION 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 44
Slide 45: Approval of Share Issue Mandate
ORDINARY RESOLUTION EIGHT APPROVAL OF SHARE ISSUE MANDATE
Slide 46: Approval of Share Issue Mandate: Votes
ORDINARY RESOLUTION APPROVAL OF SHARE ISSUE MANDATE EIGHT 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 99.85% 0.15% Number of Votes 440,185,079 671,079
Slide 47: Approval of Renewal of Share Purchase Mandate
ORDINARY RESOLUTION NINE APPROVAL OF RENEWAL OF SHARE PURCHASE MANDATE
Slide 48: Approval of Renewal of Share Purchase Mandate: Votes
ORDINARY RESOLUTION APPROVAL OF RENEWAL OF SHARE PURCHASE MANDATE NINE 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 440,856,113 45
Slide 49: Approval of Issue of Shares Pursuant to Share Incentive Plan
ORDINARY RESOLUTION TEN APPROVAL OF ISSUE OF SHARES PURSUANT TO THE YEO HIAP SENG LIMITED SHARE INCENTIVE PLAN
Slide 50: Share Incentive Plan: Votes
ORDINARY RESOLUTION APPROVAL OF ISSUE OF SHARES PURSUANT TO THE TEN YEO HIAP SENG LIMITED SHARE INCENTIVE PLAN 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 99.85% 0.15% Number of Votes 440,179,886 676
Slide 51: Approval of Issue of Shares Pursuant to Scrip Dividend Scheme
ORDINARY RESOLUTION ELEVEN APPROVAL OF ISSUE OF SHARES PURSUANT TO THE YEO HIAP SENG LIMITED SCRIP DIVIDEND SCHEME
Slide 52: Scrip Dividend Scheme: Votes
ORDINARY RESOLUTION APPROVAL OF ISSUE OF SHARES PURSUANT TO THE ELEVEN YEO HIAP SENG LIMITED SCRIP DIVIDEND SCHEME 450,000,000 400,000,000 350,000,000 300,000,000 NO. OF VOTES 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 - FOR AGAINST Percentage 100.00% 0.00% Number of Votes 440,856,11
Slide 53: Thank You