Wilmar International Limited · SGX:F34
Wilmar International — Shareholder Meeting (June 2020)
22 slides from Wilmar International's shareholder meeting presentation, Jun 12, 2020
Slide 1: Wilmar International Limited Annual General Meeting
WILMAR INTERNATIONAL LIMITED ANNUAL GENERAL MEETING 12 June 2020 0
Slide 2: Important Notice
IMPORTANT NOTICE Information in this presentation may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may cha
Slide 3: Agenda
Agenda 1 2019 Financials 2 Business Update 3 1Q2020 Financial Executive Summary 4 Proposed Listing of Wilmar’s China Operations 5 Appendix 2
Slide 4: 1. 2019 Financials
1. 2019 Financials By Charles Loo Cheau Leong Chief Financial Officer 3
Slide 5: 2019 Results at a Glance
2019 Results at a Glance vs 2018 Total Revenue US$ 42.64 billion -4% EBITDA US$ 3.02 billion 3% Net Profit US$ 1.29 billion 15% Net Profit – excl discontinued operations US$ 1.27 billion 10% Core Net Profit US$ 1.26 billion -4% Earnings per share US$ 0.204 15% Dividends per share S$ 0.125 19% Net De
Slide 6: Key Segment Results
Key Segment Results US$ Million unless otherwise stated 2019 2018(1) Volume (M MT)(2) 25.6 24.3 Tropical Oils Revenue 15,541.5 17,058.7 (Plantation, Manufacturing and Merchandising) PBT 841.6 546.1 Volume (M MT) 36.8 37.2 Oilseeds and Grains Revenue 21,515.0 22,477.3 (Manufacturing and Consumer Prod
Slide 7: Cash Flow Highlights
Cash Flow Highlights US$ million FY2019 FY2018(1) Operating cash flow before working capital changes 2,894 1,956 Net cash flow generated from operating activities 3,338 1,501 Less: Acquisitions of subsidiaries, joint ventures and (129) (417) associates Capital expenditure (1,813) (1,325) Net (decrea
Slide 8: 2. Business Updates
2. Business Updates 7
Slide 9: Continue to Invest in Our Businesses
Continue to Invest in Our Businesses Development Highlights Food Products In China: • Continued our expansion in edible oils refining, flour and rice milling, corn processing, consumer products, soy sauce and vinegar manufacturing plants in existing and new sites. In Myanmar: • Commenced operation o
Slide 10: Continue to Invest in Our Businesses
Continue to Invest in Our Businesses Development Highlights Food Products In India: • Expanded into rice and rice milling, as well as enhanced its consumer product offering. • Increasing refining and specialty fats capacities in existing and new sites. • Continue to expand our flour and rice milling
Slide 11: Continue to Invest in Our Businesses
Continue to Invest in Our Businesses Development Highlights Food Products • Completed the acquisition of the balance 50% interest in Goodman Fielder from First Pacific Company Limited in December 2019. Goodman Fielder is Australasia’s leading food company with a portfolio of well-known brands in som
Slide 12: Continue to Invest in Our Businesses
Continue to Invest in Our Businesses Development Highlights Feed and Industrial Products • Continuing with expansion in oleochemicals in China. Tropical Oils • Continue to expand oleochemicals and biodiesel capacities in Indonesia. Feed and Industrial Products In Africa: Oilseeds & Grains • Commence
Slide 13: Recognised for its Leading Brands and Quality Products
Recognised for its Leading Brands and Quality Products China: • 金龙鱼阳光鲜榨原香葵花仁油 - 国际产品创新大奖 by 国际葵花籽油协会 Arawana • 金龙鱼乳玉皇妃五常稻花香 - 2019世界高端米品鉴大赛优秀品质奖 by 2019世界高端米业大会大米组委会 Indonesia: • Superbrand (Cooking Oil Category) by Superbrands Indonesia Sania • Top Brand Award (Cooking Oil Category) by Frontier Con
Slide 14: 3. 1Q2020 Financial Executive Summary
3. 1Q2020 Financial Executive Summary 13
Slide 15: Key Highlights
Key Highlights 1Q2020 1Q2019 (US$ million) (US$ million) Revenue 10,921 10,444 5% EBITDA 707 645 10% Net profit 224 257 -13% Core net profit 307 250 22% Cash flow from operating activities 1,944 1,694 15% 31 Mar 2020 31 Dec 2019 (US$ million) (US$ million) Net Debt 11,793 13,219 -11% Shareholder
Slide 16: Group Total Liquidity
Group Total Liquidity As at 31 Mar 2020 US$ Million Available Utilised Balance Credit Facilities: Committed 9,434 7,583 1,851 Trade Finance 35,165 15,290 19,875 Short Term 1,049 223 826 Total Credit Facilities 45,648 23,096 22,552 Available Cash Not Pledged 2,263 Total Liquidity 24,815 15
Slide 17: Business Outlook
Business Outlook • The Group’s consumer products business is expected to continue its strong growth in the second quarter due to the quality and range of our products. With the easing of lockdown measures globally, we expect the demand from the HORECA businesses will start to recover in 2Q2020. • Wh
Slide 18: Supporting the Fight Against COVID-19
Supporting the Fight Against COVID-19 • Together with our Associates and Joint Ventures, the Group has contributed a total of US$19.1 million in the fight against Covid, including : In China, Wilmar’s subsidiary, Yihai Kerry, has donated about RMB33 million (~US$4.5 million) in a combination of cash
Slide 19: 4. Proposed Listing of Wilmar's China Operations
4. Proposed Listing of Wilmar’s China Operations 18
Slide 20: Proposed Listing of Wilmar's China Operations
Proposed Listing of Wilmar’s China Operations Transaction Rationale Issuer Yihai Kerry Arawana Holdings Co., Ltd. (“YKA”) With an established history in China of over 30 years, YKA is well positioned to further extend its market Initial Public Offering (“IPO”) and listing on the ChiNext of leadershi
Slide 21: 5. Appendix
5. Appendix 20
Slide 22: Change in Segment Reporting
Change in Segment Reporting With effect from 1Q2020, the Group adopted a new segment classification for reporting its segment revenue and results. The change in segments better reflects the Group’s core businesses and strategy. Previously, the Group has segmented its business based on different agri
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