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Analysts’ Presentation 2019 Financial Results April 16, 2020
01 02 03 04
Key Financial Highlights Summary of Consolidated Financials Revenue Mix Recent Developments
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Analysts Presentation 2019 Financial Results April 16, 2020 01 - - PowerPoint PPT Presentation
Analysts Presentation 2019 Financial Results April 16, 2020 01 - - PowerPoint PPT Presentation
Analysts Presentation 2019 Financial Results April 16, 2020 01 Key Financial Highlights Summary of Consolidated 02 Financials 03 Revenue Mix 04 Recent Developments 2 Key Financial Highlights Php Bn Php Bn Php Mn Php Mn 931 775
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Key Financial Highlights
3
+12% increase in Gross Profit +47% increase in EBITDA +28% increase in Operating Income +5.8 pps increase in Gross Profit Margin
29.2%
+5.2 pps increase in Operating Margin
17.6%
+1.2 pps increase in Return on Equity
9.0%
+113% increase in Net Income
775
+8.4 pps increase in Net Income Margin
14.6%
Php Mn Php Bn
1.55
Php Bn
1.17
Php Mn
931
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➢ Topline dragged by discounted average selling prices due to lower global vegetable-based oil prices and peso appreciation ➢ Larger contribution of higher margin products translating to improved margins ➢ Operating expenses maintained owing to effective cost containment programs
Summary of Consolidated Financials
Revenue, Gross Profit & Margin (Php Mn)
5,881 5,303 1,379 1,549 23.4% 29.2%
0.0% 4.0% 8.0% 12.0% 16.0% 20.0% 24.0% 28.0% 32.0% 2,000 4,000 6,000 8,000
2018 2019
Revenue Gross Profit Gross Profit Margin
Operating Income & Margin (Php Mn) Net Income & Margin (Php Mn)
365 775 6.2% 14.6%
0.0% 4.0% 8.0% 12.0% 16.0% 20.0% 400 800 1,200
2018 2019
Net Income Net Income Margin
727 931 12.4% 17.6%
0.0% 5.0% 10.0% 15.0% 20.0% 400 800 1,200
2018 2019
Operating Income Operating Margin
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Revenue Mix: Product Segment, Geography and Exports
Desiccated Coconut 34% Coconut Water 23% Sweetened Coconut 15% Coconut Milk Powder 14% Coconut Cream/Milk 5% Others 9% USA 67% Philippines 11% Australia 8% Asia/Middle East 8% Europe 6%
Geography Exports Product Segment
Exports 89% Domestic 11%
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Consolidated Balance Sheet
Current Assets
2,545 5,077 2018 2019
Total Assets
7,641 10,559 2018 2019
Current Liabilities
2,683 1,707 2018 2019
Total Liabilities
2,992 1,976 2018 2019
Total Equity
4,649 8,583 2018 2019
➢ Total Assets
Higher cash position from IPO proceeds; PPE additions
➢ Current Liabilities
Partial debt payment of P800 million in 4Q19
➢ Total Equity
Issuance of new primary shares related to IPO
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Key Financial Ratios
Return on Assets
2019
7.3%
4.8% 2018
Return on Equity
2019
9.0%
7.8% 2018 (Basic)
Earnings Per Share
2019
P0.23
P0.18 2018
Debt to Equity Ratio
2019
0.23
0.64 2018
Current Ratio
2019
2.97
0.95 2018
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2019 January 2020 February 2020 March 2020 Awarded for sustainable organic farming
- initiative. Groundbreaking for provincial
hospital facility (CSR). Declaration of cash dividends amounting to P0.3 per common share. Instituted P500 million share buy-back program. Conducted initial public offering in October. Partial debt payment of P800 million. Doubled spray-drying capacity for coconut milk powder to 4,800 metric tons. Secured initial commitments for equity research coverage.