Ioi Corporation Berhad · MYX:IOICORP
Ioi Corporation Berhad — Shareholder Meeting (October 2022)
17 slides from Ioi Corporation Berhad's shareholder meeting presentation, Oct 31, 2022
Slide 1: 53rd Annual General Meeting
rd 53 Annual General Meeting 31 October 2022 Presented by Group CFO Mr. Kong Kian Beng
Slide 2: Overall Group Financial Performance
Overall Group Financial Performance 2022 2021 Variances RM Million RM Million (%) Revenue 15,578.7 11,251.7 38 Earnings before Interest and Tax (EBIT) 2,494.2 1,747.5 43 Profit before Tax (PBT) 2,352.6 1,739.8 35 Underlying PBT* 2,547.7 1,523.3 67 Profit after Tax (PAT) 1,768.9 1,416.3 25 Basic EPS
Slide 3: Segmental profit
Segmental profit Others Others Resource-Based 1% Resource-Based *% Manufacturing Manufacturing 20% 36% 2022 2021 Variances RM Million RM Million (%) 2,084.2 1,209.6 72 537.3 668.0 20 2022 2021 10.7 8.1 32 *negligible Plantation Plantation 64% 79% RM million RM million
Slide 4: Plantation Segment
Plantation Segment Segment profit (RM Million) Higher profit mainly due to: - Higher CPO and PK prices - Higher share of associate 2,084.2 results 1,209.6 partially offset by: - Lower FFB production 2022 2021 Average Realised Commodity Price (RM) FFB Production (Million MT) CPO PK 4,688 3,593 3,076
Slide 5: Resource-Based Manufacturing Segment
Resource-Based Manufacturing Segment Segment profit (RM Million) Lower profit mainly due to: - Lower share of associate results from 668.0 Bunge Loders Croklaan Group B.V.(“BLC”) 537.3 (FY2021 – share of BLC’s one-off gain of sale of its refinery of RM268.3 mil) 2022 2021 Underlying segment profit (
Slide 6: Balance Sheet (RM billion)
Balance Sheet (RM billion) Assets 2022 Assets 2021 Property, plant and equipment 8.7 Property, plant and equipment 8.6 Other long term assets 3.7 ASSETS ASSETS Other long term assets 3.7 Other short term assets 4.1 2022 2021 Other short term assets 3.3 Cash and cash equivalents 2.6 Cash and cash equ
Slide 7: Capital Expenditure
Capital Expenditure 2022 2021 RM Million RM Million Freehold land 7.5 - New planting and Replanting 157.8 181.3 Other Plantation Capex 119.5 98.3 Oleochemical Plant in progress 93.0 90.1 Palm Wood factory in progress 29.6 - Others 38.1 37.9 445.5 407.6
Slide 8: Equity repayments
Equity repayments Dividend declared during the year 14 sen (RM869.7 million) 1st Interim – 6 sen Payment: 25 March 2022 2nd Interim – 8 sen Payment: 23 September 2022 IOI Share buy back during the year RM134.2 million Average purchased price RM3.75 per share
Slide 9: Thank You
Thank You
Slide 10: Responses to Minority Shareholders Watch Group's Queries
Responses to Minority Shareholders Watch Group’s Queries
Slide 11: Operational and Financial Matters Q1
Operational and Financial Matters Q1. On 30 May 2022, IOI Pelita Plantation Sdn Bhd signed a final landmark settlement agreement with the native communities in Sarawak to relinquish 4,615 hectares of land, which will subsequently be gazetted by the Sarawak government as Native Communal Reserve for a
Slide 12: Operational and Financial Matters Q2
Operational and Financial Matters Q2. The lower fresh fruit bunch (“FFB”) productivity and FFB yields are primarily impacted by the shortage of skilled harvesters as more workers requested to repatriate to their home country (page 66 of AR2022). To-date, to what extent has the Group’s labour shortag
Slide 13: IOI Response (cont'd)
IOI Response (cont’d): For our estates in Peninsular Malaysia, we have requested for 3,300 workers from the immigration department and as of end October 2022, about 800 workers arrived. We are expecting another 1,500 workers to arrive in the next three months and this would alleviate the severe labo
Slide 14: Operational and Financial Matters Q3
Operational and Financial Matters Q3. Germany’s high dependence on Russia for natural gas supply creates a high risk of production downtime/interruption and both the Group’s production sites in Witten and Wittenberge are not equipped with any alternative source of heating or steam generation (page 7
Slide 15: IOI Response (cont'd)
IOI Response (cont’d): Nevertheless, we are looking at fuel alternatives for our both sites in Germany and are currently installing a diesel steam boiler at one of the sites. Although this may not fully replace gas usage, should there be a total cut-off of gas supply in Germany, the boiler would all
Slide 16: Operational and Financial Matters Q4
Operational and Financial Matters Q4. According to The Edge Markets article on 30 September 2022, Nestlé SA has pledged to cut ties with an Indonesian palm oil supplier accused of land-rights abuses and environmental harm. The Swiss company instructed its direct vendors to ensure that palm oil from
Slide 17: IOI Response
IOI Response: The take-up rate for the Group’s certified crude palm oil (“CPO”) from multinational customers has been good and a majority of the Group’s certified CPO is supplied to our associate, Bunge Loders Croklaan. Therefore, opportunities in terms of new demand are limited by the Group’s produ
IOI Corporation Berhad — Shareholder Meeting (October 2022) on 6ix