San Miguel Corporation · PSE:SMC
San Miguel — Q1 2003 Earnings Presentation
13 slides from San Miguel's earnings presentation, May 7, 2003
Slide 1: Investor's Briefing: First Quarter Results May 7, 2003
Investor’s BRIEFING First Quarter Results May 7, 2003
Slide 2: Robust performance of domestic beverages boosts earnings
Robust performance of domestic beverages boosts earnings FIRST QUARTER (in million pesos) 2003 2002 % Change Net Sales P33,805 P30,171 12 Operating Income 2,587 2,524 2 Net Income 1,342 1,111 21 San Miguel Corporation
Slide 3: Sustained volume growth and enhanced operating efficiencies drove up profitability
Sustained volume growth and enhanced operating efficiencies drove up profitability FIRST QUARTER (in million pesos) 2003 2002 % Change Net Sales P 7,462 P 6,662 12 Income from Operations 1,651 1,265 31 Volume (mil cases) 36.5 33.1 10 Beer Philippines
Slide 4: Brisk volume growth tempered by South China and Hong Kong
Brisk volume growth tempered by South China and Hong Kong FIRST QUARTER (in million US$) 2003 2002 % Change Net Sales $ 51.59 $ 53.10 -3 Operating Income -2.60 -0.97 -168 Volume 8.51 8.13 5 (mil cases) Beer International
Slide 5: Brisk volume growth tempered by South China and Hong Kong
Brisk volume growth tempered by South China and Hong Kong North China Vietnam • Strong volumes backed by • Robust sales performance sustained increased sales of San Mig & Blue Star brands South China Indonesia • Lower consumption • Reversed volume declines with double- • Shift to low price brands re
Slide 6: Improved turnover countered effect of higher alcohol costs on profitability
Improved turnover countered effect of higher GSM, alcohol costs on profitability Inc. FIRST QUARTER (in million pesos) 2003 2002 % Change Net Sales P 3,121 P 2,575 21 Operating Income 725 685 6 Net Income 441 411 7 Volume 8.14 6.71 21 (mil cases) Ginebra San Miguel, Inc.
Slide 7: Increased consumption supported topline
Increased consumption supported topline FIRST QUARTER (in million pesos) 2003 2002 % Change Net Sales P 6,682 P 5,929 13 Income from Operations 284 68 319 Volume (mil cases) 83.0 70.8 17 CCBPI – Parent Only
Slide 8: Production constraints limit turn-ins
Production constraints limit turn-ins FIRST QUARTER (in million pesos) 2003 2002 % Change Net Sales P1,937 P1,901 2 Income from Operations 100 150 -34 Volume (mil cases) 29.8 29.7 0.3 Cosmos Bottling Corp.
Slide 9: Robust sales sustained earnings growth
Robust sales sustained earnings growth FIRST QUARTER (in million pesos) 2003 2002 % Change Net Sales P1,251 P1,046 20 Income from Operations 53 40 32 Volume (mil cases) 27.57 22.31 24 Phil. Beverage Partners
Slide 10: Soft poultry prices weighed down group performance
Soft poultry prices weighed down group performance FIRST QUARTER (in million pesos) 2003 2002 % Change Net Sales P9,252 P8,451 9 Income from Operations 5 245 -98 Volume Growth 9 Food Group
Slide 11: Soft poultry prices weighed down group performance
Soft poultry prices weighed down group performance Poultry Meats (SMFI & Pure Foods Corp.) (Monterey Food Corp.) • Average prices down 3% QoQ, 4% YoY • Pork volume down 9%; • Chicken volume up 16% Beef up 5%; Value-added up 32%; • Revenues at P2.74B • Revenue at P989M • Operating loss of P336M • Op.
Slide 12: Strong volumes drive profitability
Strong volumes drive profitability FIRST QUARTER (in million pesos) 2003 2002 % Change Net Sales P 4,393 P 3,647 20 Income from Operations 624 413 51 Volume Growth 22 Packaging Group
Slide 13: Investor's Briefing
Investor’s BRIEFING First Quarter Results May 7, 2003 www.sanmiguel.com.ph