First Pacific Co. Ltd. · HKEX:142

First Pacific — FY2013 Earnings Presentation

14 slides from First Pacific's earnings presentation, Mar 25, 2014

  1. Slide 1: First Pacific Company Limited

    Copyright © First Pacific Company Limited March 25, 2014. All rights reserved.

  2. Slide 2: Rights Issue and Additional Investments

    Rights Issue Value of Assets (USD mln) On 10 July 2013, First Pacific completed a rights offering on the 10,000 basis of one rights share for every eight existing shares at a price 8,025 of HK$8.1 (US$1.04) per rights share. The offering raised over 8,000 US$500 million (before expenses) to finance

  3. Slide 3: Financial Highlights for the Year Ended December 31, 2013

    For the year ended December 31 2013 2012 Change (US$m) (Restated) Recurring profit 327.1 358.0 -8.6% Profit contribution from operations 467.2 460.8 +1.4% Foreign exchange and derivative (losses)/gains (56.3) 1.8 - Non-recurring losses (34.5) (6.4) +439.1% Profit attributable to owners of the parent

  4. Slide 4: Recurring Profit and Contribution

     Recurring Profit US$327.1 mln -8.6% Contribution & Recurring Profit (US$ mln) 600  Reported Profit US$235.3 mln -33.4%  Contribution US$467.2 mln +1.4% 400 200 Contribution (US$ mln) 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2012 2012 Change -200 PLDT 209.9 195.0 +7.6% PLDT Philex

  5. Slide 5: PLDT 2013 Earnings Highlights

    2013 Earnings Highlights  2013 revenues rise 3% to record ₱164.1 Revenues & Core Income (USD mln) billion as surging data revenues offset decline 5,000 in legacy revenue sources 3,467 3,561 3,796 3,847 4,000 3,197 3,338  Core income up 5% to ₱38.7 billion on 2,954 3,000 2,446 stronger service reve

  6. Slide 6: MPIC 2013 Earnings Highlights

    2013 Earnings Highlights Revenues & Core Income (USD mln)  Core income rose 10% in Peso terms to ₱7.23 800 724 billion vs. ₱6.56 billion on strong contribution 700 661 growth by all four operating businesses 600 510  Water contribution boosted by volumes and tariff 500 412  Toll roads boosted by

  7. Slide 7: Indofood 2013 Earnings Highlights

    2013 Earnings Reach 9th Consecutive Record High Revenues & Core Income (USD mln)  Revenues up 15% to Rp 57.7 trillion vs. 50.2 trillion on 6,000 1,200 5,174 5,330 5,476 higher sales in nearly every business 5,000 3,993 4,228 1,000  Core income rose 3% in Rupiah terms to eighth 4,000 3,589 800 3,04

  8. Slide 8: Philex 2013 Earnings Highlights

    2013 Earnings Highlights Revenues & Core Income (USD mln)  Full-rate production resumed March 4, 2013 after 400 373 seven-month shutdown 297 266  Core income down 12% in USD terms at $35.4 300 218 217 245 189 million vs. $40.1 million as a result of lower metal 200 129 112 92 prices, particularly

  9. Slide 9: First Pacific and Investee Company Goals

    First Pacific Goals  Utilizing funds raised in 2013, conclude an acquisition offering a strong return  Guide all investee companies to continued earnings growth  Fully integrate new investments into the Group’s portfolio  Support Philex to obtain a permanent lifting of the suspension order on Pa

  10. Slide 10: Contribution to Group Profit and Turnover

    Contribution to Turnover Group profit(i) For the year ended 31 December 2013 2012 2013 2012 US$ millions (Restated)(ii) PLDT(iii) - - 209.9 190.5 MPIC 724.1 660.8 94.5 86.6 Indofood 5,476.3 5,330.0 159.6 170.1 Philex(iii) - - 7.3 13.6 FPM Power 5.9 - (4.8) - FPM Infrastructure - - 0.5 - FP Natural R

  11. Slide 11: Consolidated Statement of Financial Position

    At 31 December 2013 At 31 December 2012 Change US$ millions (Restated) Non-current Assets Property, plant and equipment 2,920.1 1,824.3 60.1% Plantations 1,164.4 1,301.5 (10.5%) Associated companies and joint ventures 3,406.6 3,299.1 3.3% Goodwill 1,047.1 808.2 29.6% Other intangible assets 2,386.8

  12. Slide 12: Head Office Cash Flow

    For the year ended 31 December 2013 2012 US$ millions Dividend and fee income 305.8 320.9 Head Office overhead expense (30.2) (25.1) Net cash interest expense (81.6) (73.7) Taxes (0.3) (0.4) Net cash inflow from operating activities 193.7 221.7 Net investments (507.1) (12.1) Loans to an associated c

  13. Slide 13: Net Asset Value and Share Price Discount

    At 31 December 2013 2012 US$ millions Basis PLDT (i) 3,317.2 3,404.8 MPIC (i) 1,413.0 1,574.4 Indofood (i) 2,380.4 2,659.5 Philex (i) 407.0 832.6 Philex Petroleum (i) 49.9 208.1 FPM Power (ii) 330.0 - FPM Infrastructure (ii) 101.3 - FP Natural Resources (iii) 25.9 - Head Office - Other assets (iv) 8

  14. Slide 14: First Pacific Company Limited

    First Pacific Company Limited 24th Floor, Two Exchange Square 8 Connaught Place, Central Hong Kong Tel: +852 2842 4374 info@firstpacific.com www.firstpacific.com

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