22 slides from Fraser & Neave Holdings Bhd's earnings presentation, November 2023
Slide 1: Financial Highlights for Full-Year Ended 30 September 2023
FINANCIAL HIGHLIGHTS for full-year ended 30 September 2023 (“FY2023”) (Unaudited)
Slide 2: Important Notice
IMPORTANT NOTICE Certain statements in this Presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward- looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual re
Slide 3: Financial Highlights
FINANCIAL HIGHLIGHTS FY2023 Financial Report (Unaudited) $2,099.1M $248.5M 11.8% (+ 4.8%) (+ 6.5%) (+ 19 bps) REVENUE PBIT PBIT MARGIN $205.1M1 $133.3M 9.2 CTS (+ 15.9%) (+ 3.0%) (+ 3.4%) PAT ATTRIBUTABLE PROFIT2 EARNINGS PER SHARE2 1. Included a $6.9M net exceptional gain which arose largely from f
Slide 4: Financial Analysis: FY2023 Revenue by Business
FINANCIAL ANALYSIS FY2023 Revenue (by Business) FY2022 $2,003.2M KEY TAKEAWAYS Beverages + 6% F&B • FY2023 revenue grew 5% (+10% in constant Dairies (+2%) - 0% currency), supported largely by Beverages. In + $95.9M (+ 5%) constant currency, all business segments recorded P&P + 3% growth Others NM NM
Slide 5: Financial Analysis: FY2023 Revenue by Geography
FINANCIAL ANALYSIS FY2023 Revenue (by Geography) KEY TAKEAWAYS 9% 20% Malaysia’s revenue grew • Soft Drinks and Dairies contributed to top-line FY2023 Revenue growth, despite unfavourable forex impact 31% $2,099.1M (by Geography) • Increased prices, successful execution of festive campaigns and stro
Slide 6: Financial Analysis: FY2023 PBIT by Business
FINANCIAL ANALYSIS FY2023 PBIT (by Business) FY2022 $233.4M KEY TAKEAWAYS Beverages - 2% F&B • Despite unfavourable forex translation, higher A&P Dairies (+ 7%) + 9% spend and high input costs, FY2023 earnings grew 6% (+12% in constant currency) + $15.1M (+ 6%) P&P + 9% • Beverages earnings fell 2%
Slide 7: Financial Analysis: FY2023 PBIT by Geography
FINANCIAL ANALYSIS FY2023 PBIT (by Geography) -1% -5% KEY TAKEAWAYS 36% 25% Malaysia earnings grew despite unfavourable FY2023 PBIT forex impact $248.5M (by Geography) • Supported by increased selling prices, despite unfavourable forex translation, and higher A&P spend and input costs 45% Thailand’s
Slide 8: FY2023 Balance Sheet
FINANCIAL HIGHLIGHTS FY2023 Balance Sheet $5,121.9M $1,719.3M $3.402.6M TOTAL ASSETS TOTAL LIABILITIES TOTAL EQUITY Cash and Bank Balances $431.8M Borrowings $1,133.6M Share Capital $863.8M Other Current Assets $732.4M Other Current Liabilities $495.4M Reserves $2,083.5M Non-Current Assets $3,957.7M
Slide 9: Strong Capital Structure
STRONG CAPITAL STRUCTURE Maturity Profile of Group Debt Generous debt headroom for acquisitions FY2022 FY2023 Floating Rates 19% $794.4m $339.2m Cash $274.6M $431.8M Fixed Borrowings $889.3M $1,133.6M Rates 81% Gearing1 17.6% 20.6% MATURING < 1YR MATURING > 1YR Dividend 51.9% 48.1% 56.0% 60.0% Inter
Slide 10: Corporate Development
CORPORATE DEVELOPMENT Full-year ended 30 September 2023 10
Slide 11: Groundbreaking Ceremony of Integrated Dairy Farm
Integrated dairy farm is Home to 20,000 2,726 hectares milking cows GROUNDBREAKING CEREMONY OF INTEGRATED DAIRY FARM An annual production of 200 million liters of fresh milk for the Malaysian and Singaporean markets • Groundbreaking ceremony for the integrated dairy farm in Gemas, Negeri Sembilan, M
Slide 12: Acquisition of Cocoaland
ACQUISITION OF COCOALAND • Successfully acquired the entire equity interest in Cocoaland not already owned by F&NHB for a total cash consideration of RM489.2M ($142.1M) • Cocoaland became a wholly-owned subsidiary of F&NHB; delisted from Bursa Malaysia in November 2022 • Cocoaland is a leading manuf
Slide 13: F&N Bolsters Indochina Market Presence
ACQUIRED RIGHTS FOR NESTLÉ’S BEAR BRAND STERILISED MILK IN CAMBODIA • F&NHB has secured extended rights from Société des Produits Nestlé S.A. and Nestec F&N BOLSTERS INDOCHINA S.A. as the exclusive manufacturer, distributor MARKET PRESENCE and promoter of BEAR BRAND sterilised milk in Cambodia • Eff
Slide 14: New Product Launch
NEW PRODUCT LAUNCH 100PLUS PRO High Protein PET 500ml SIDE FRONT BACK Full-year ended 30 September 2023 14
Slide 15: New Product Launch
NEW PRODUCT LAUNCH ÖMILK Barista Oat Milk PET 1L SIDE FRONT BACK Full-year ended 30 September 2023 15
Slide 16: New Packaging
NEW PACKAGING F&N MAGNOLIA F&N NUTRISOY Fresh Milk Fresh Soya Milk Pack 946mL Pack 946ml BEFORE AFTER BEFORE AFTER Full-year ended 30 September 2023 16
Slide 17: New Packaging
NEW PACKAGING F&N F&N Carbonated Soft Drinks Carbonated Soft Drinks Cans 325ml PET 500ml & 1.5L BEFORE AFTER BEFORE AFTER Full-year ended 30 September 2023 17
Slide 18: New Packaging
NEW PACKAGING F&N MAGNOLIA F&N SEASONS Yoghurt Smoothie Ice Lemon Tea PET 700ml & 200ml PET 380ml & Can 300ml BEFORE AFTER BEFORE AFTER Full-year ended 30 September 2023 18
Slide 19: Marketing Investments
MARKETING INVESTMENTS Key Events/Sponsorships in FY2023 1. Standard Chartered Marathon 2022: 100PLUS Official Hydration Partner 2. Great Eastern Women’s Run 2022: 100PLUS Official Hydration Partner 3. Chinese New Year 2023: Launch of 100PLUS Original Gold Cans 4. HSBC Women’s World Championship 2023
Slide 20: Marketing Investments
MARKETING INVESTMENTS Key Events/Sponsorships in FY2023 1. F&N 140th Anniversary Lucky Draw (100PLUS & F&N SEASONS) 2. F&N 140 Years Anniversary Loyalty Programme by F&N MAGNOLIA Full-year ended 30 September 2023 20
Slide 21: Thank You
Website: https://fraserandneave.com Thank You Analyst and media contact: Ms. Jennifer Yu Director, Investor Relations T: (65) 6318 9231 E: jenniferyu@fngroup.com.sg 21
Slide 22: FY2023 Group Financial Highlights (Unaudited)
FY2023 GROUP FINANCIAL HIGHLIGHTS (UNAUDITED) FY2022 FY2023 Change ($’M) ($’M) (%) Revenue 2,003.2 2,099.1 4.8 Gross Profit 573.8 623.0 8.6 Profit before interest and tax1 233.4 248.5 6.5 PBIT margin (%) 11.7% 11.8% 19 bps Profit after tax1 176.9 205.1 15.9 Profit attributable to shareholders2 129.4