Innature Bhd · MYX:INNATURE
Innature Bhd — Q1 2024 Earnings Presentation
21 slides from Innature Bhd's earnings presentation, Sep 2, 2024
Slide 1: 1Q2024 Results
InNature BUSINESS AS A FORCE FOR GOOD 102024 RESULTS
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain forward looking statements with respect to InNature Berhad’s (“InNature”) financial condition, results of operations and business, and management’s strategy, plans and objectives for InNature. These statements include, without limitation, those that expr
Slide 3: Contents
I. HIGHLIGHTS II. 1Q2024 FINANCIAL PERFORMANCE CONTENTS III. FINANCIAL POSITION & CASHFLOW IV. NEXT STEPS
Slide 4: 1Q2024 at a Glance
1Q2024 AT A GLANCE RM31.5m 67.8% RM141.1m Revenue GP margin Net assets as at 31.3.2024, with 2.9% reported 1Q2023: 69.4% cash balance of 6.6% same store RM46.8m 120 RM2.4m Retail + pop-up stores at 31.3.2024 PAT 8.2% vs 1Q2023 comparable Net Cash PAT, excluding one-off items (2) Net gearing ra
Slide 5: Retail Store Network
RETAIL STORE NETWORK 120 stores + pop-up as at 31 March 2024 Malaysia Vietnam Cambodia • 74 stores • 37 stores • 3 stores • 2 pop-up • 4 pop-up Movement in 1Q2024 Vincom Dong Khoi, HCMC, Vietnam +1 Sogo JB, Malaysia -2 Mydin Sandakan, Malaysia
Slide 6: Contents
I. HIGHLIGHTS II. 1Q2024 FINANCIAL PERFORMANCE CONTENTS III. FINANCIAL POSITION & CASHFLOW IV. NEXT STEPS
Slide 7: 1Q2024 Revenue
1Q2024 REVENUE 1Q2024 Weightage YoY change YoY change YoY change Revenue RM’000 % same store constant currency reported Malaysia 23,912 75.9% -5.9% -3.0% -3.0% Vietnam 6,705 21.3% -8.3% -3.2% -2.0% Cambodia 868 2.8% -11.0% -11.0% -6.0% Group Total 31,485 100.0% -6.6% -3.3% -2.9% Note: Same-store sal
Slide 8: 1Q2024 Revenue
1Q2024 REVENUE Quarterly Revenue Malaysia Vietnam Cambodia YoY % RM’000 -3.9% -2.9% 50,000 0.0% -9.2% -9.0% -14.7% -10.0% 40,000 902 923 955 858 868 -20.0% 7,877 30,000 6,185 5,127 6,839 6,705 -30.0% 20,000 -40.0% 24,663 26,607 26,038 28,351 10,000 23,912 -50.0% - -60.0% 1Q2023 2Q2023 3Q2023 4Q2023
Slide 9: 1Q2024 Revenue: Ecomm
1Q2024 REVENUE Ecomm Revenue RM’000 Ecomm Contribution % 2,500 6.4% 2,000 5.3% 4.4% 1,500 3.4% 5.0% 3.1% 1,000 500 - 0.0% 1Q2023 2Q2023 3Q2023 4Q2023 1Q2024 • Ecomm gaining traction, both in absolute amount & revenue contribution.
Slide 10: 1Q2024 P&L
1Q2024 P&L RM'000 1Q2024 % Revenue 1Q2023 % Revenue Change % • GP declined on the back of Revenue 31,485 100.0% 32,425 100.0% -2.9% lower topline and reduced GP margin as a result of increased promotions. Gross Profit 21,347 67.8% 22,499 69.4% -5.1% Operating Expenses (18,789) -59.7% (19,335) -59.6%
Slide 11: 1Q2024 Operating Expenses
1Q2024 OPERATING EXPENSES RM'000 1Q2024 % Revenue 1Q2023 % Revenue Change % Operating Expenses 18,789 59.7% 19,335 59.6% -2.8% Rental (1) 5,717 18.2% 5,432 16.8% 5.2% Staff 8,560 27.2% 9,751 30.1% -12.2% Distribution 623 2.0% 590 1.8% 5.6% Marketing 1,043 3.3% 690 2.1% 51.2% Depreciation 1,147 3.6%
Slide 12: EBITDA Positive Across All Markets
EBITDA POSITIVE ACROSS ALL MARKETS RM'000 Malaysia Vietnam Cambodia Group 1Q2024 Segment EBITDA 3,619 70 197 3,886 Depreciation (583) (409) (155) (1,147) Other income / (expense) 77 (21) 11 67 Finance income 270 73 23 366 MFRS 16 effect (30) (24) 1 (53) Tax expenses (821) 94 (9) (736) Segment PAT 2,
Slide 13: Contents
I. HIGHLIGHTS II. 1Q2024 FINANCIAL PERFORMANCE CONTENTS III. FINANCIAL POSITION & CASHFLOW IV. NEXT STEPS
Slide 14: Balance Sheet Remains Asset Light & Net Cash
BALANCE SHEET REMAINS ASSET LIGHT & NET CASH Components of Balance Sheet 31.3.2024 RM’000 Arose from the Group’s acquisition Mainly rent deposits, of TBS operations in prepayments and trade West Malaysia, Mainly trade dues and receivables (credit card Sabah and Labuan in accruals for operating sales
Slide 15: Cash Generative Business
CASH GENERATIVE BUSINESS Net Operating Cashflow, Dividend & Capex Paid RM’000 37,690 35,741 29,528 22,748 17,647 17,647 14,118 11,611 7,059 6,181 7,547 7,059 1,677 3,444 786 2020 2021 2022 2023 1Q2024 Net operating cashflow Dividend paid Capex paid • Flexibility in capital management & dividend poli
Slide 16: Contents
I. HIGHLIGHTS II. 1Q2024 FINANCIAL PERFORMANCE CONTENTS III. FINANCIAL POSITION & CASHFLOW IV. NEXT STEPS
Slide 17: Progress Priorities
PROGRESS PRIORITIES • Continuous re-optimisation of retail • 40 years in business. store network, having closed 2 in Malaysia and opened a new store in • Continue with marketing efforts Vietnam at Vincom Center Dong to attract more customers, Khoi, a premier mall at the heart of upskill our team, an
Slide 18: Thank You
C180 & C190
Slide 19: Supplementary Information
22 SUPPLEMENTARY INFORMATION
Slide 20: Retail Store Movement
RETAIL STORE MOVEMENT Malaysia Vietnam Cambodia Group Retail stores at 1.1.2024 76 36 3 115 Opening - 1 - 1 Closure (2) - - (2) Retail stores at 31.3.2024 74 37 3 114 Pop-up stores at 31.3.2024 2 4 - 6 Retail + pop-up stores at 31.3.2024 76 41 3 120
Slide 21: Retail Store by Type
RETAIL STORE BY TYPE Malaysia Vietnam Cambodia Group Mall 72 20 3 95 Department store 1 4 - 5 High street 1 10 - 11 Airport - 3 - 3 Retail stores at 31.3.2024 74 37 3 114 Pop-up stores at 31.3.2024 2 4 - 6 Retail + pop-up stores at 31.3.2024 76 41 3 120