PRESS AND ANALYST BRIEFING
1H2013 Results
27 August 2013
Disclaimer:
The contents of this presentation include materials which may be capable of being interpreted as forward-looking statements. Such statements
are merely estimates and targets, based on circumstances and reasonable assumptions which apply only at the date of such statements.
Accordingly, no reliance should be placed on any forward-looking statements, express or implied, contained in this presentation.
1
Agenda
Group Financial Highlights
Review of Major Operations
5-Year Financial Performance
Capital Commitments
Dividend Record
Share Price Performance
Prospects for 2013
2
Group
Financial
Highlights
3
Financial Results FOR THE 6 MONTHS ENDED 30 JUNE
2013
Flour & Feed Milling, & Grains Trading
PPB Group
Operations
Marketing, Distribution & Manufacturing
of Consumer Products
Film Exhibition & Distribution
Waste Management & Utilities
Property Investment & Development
Chemicals, Livestock, Investments &
Other Operations
4
Financial Results FOR THE 6 MONTHS ENDED 30 JUNE
2013
(Figures in RM)
2013
2012 CHANGE
Revenue
1.58 bil
1.46 bil
9%
Operating Expenses
1.51 bil
1.39 bil
9%
Share of Wilmar’s Profit
300 mil
209 mil
44%
PBT
471 mil
324 mil
46%
439 mil
36.06 sen
302 mil
24.20 sen
46%
49%
Profit for the Period
EPS
5
Financial Ratios FOR THE 6 MONTHS ENDED 30 JUNE 2013
EPS
ROE Attributable to
Owners of the Parent
Net Assets Per Share Attributable to
Owners of the Parent
2013
2012
36.06 sen
24.20 sen
2.9%
2.0%
RM12.52
RM11.97
6
Segmental
InformationFOR
FOR THE 6 MONTHS ENDED 30 JUNE
Segmental
Information
THE 6 MONTHS ENDED 30 JUNE 2013
2013
TOTAL
REVENUE
RM1.58 bil
60%
Flour & Feed Milling, & Grains Trading
12%
Marketing, Distribution & Manufacturing
of Consumer Products
10%
Film Exhibition & Distribution
3%
Waste Management & Utilities
2%
Property Investment & Development
13%
Chemicals, Livestock, Investments & Others*
* Chemicals Trading & Manufacturing [3.37%], Livestock Farming [2.54%], Investment Income [0.46%] & Others [6.87%]
7
Segmental Information FOR THE 6 MONTHS ENDED 30 JUNE 2013
TOTAL
SEGMENT
PROFITS
RM156 mil
44%
Flour & Feed Milling, & Grains Trading
19%
Property Investment & Development
17%
Film Exhibition & Distribution
7%
Marketing, Distribution & Manufacturing
of Consumer Products
2%
Waste Management & Utilities
11%
Chemicals, Livestock, Investments & Others*
* Chemicals Trading & Manufacturing [0.37%], Livestock Farming [-6.09%], Investment Income [14.63%] &
Others [1.59%]
8
Review
Of
Major
Operations
9
Review of Major Operations
RM Million
1H2012
1H2013
10%
1000
FLOUR & FEED MILLING, &
GRAINS TRADING
900
The increase in revenue for
1H2013 was primarily driven by
higher sales volume and improved
selling prices of flour and feed.
800
700
600
500
905
993
400
300
5%
200
66
69
The higher segment profit was
mainly due to better performance
in grains trading.
100
0
Revenue
Segment Profit
10
Review of Major Operations
RM Million
1H2012
1H2013
1%
200
180
MARKETING, DISTRIBUTION &
MANUFACTURING OF
CONSUMER PRODUCTS
160
Revenue and segment profit
increased due to improved sales
of agency products with better
margins.
140
120
100
192 193
80
60
25%
40
8.7
10.8
20
0
Revenue
Segment Profit
11
Review of Major Operations
RM Million
1H2012
1H2013
21%
180
160
Revenue for 1H2013 increased
due to contribution from new
cinemas opened in 2012 and
1H2013, improved film distribution
and screen advertising revenue.
140
120
100
80
142
172
40%
60
20
40
FILM EXHIBITION &
DISTRIBUTION
27
In line with the improved revenue,
profit climbed 40% to RM27 mil.
20
0
Revenue
Segment Profit
12
Review of Major Operations
1H2012
1H2013
RM Million
23%
70
60
50
Revenue and segment profit
declined as most of the
environmental engineering projects
were at completion stages.
40
30
60
ENVIRONMENTAL
ENGINEERING,
WASTE MANAGEMENT &
UTILITIES
46
43%
20
5.1
10
2.9
The newly secured projects in
2013 had yet to contribute
significantly in 1H2013.
0
Revenue
Segment Profit
13
Review of Major Operations
20%
RM Million
1H2012
1H2013
40
>100%
35
30
25
20
40
32
15
10
13
30
5
0
Revenue
PROPERTY INVESTMENT &
DEVELOPMENT
Revenue decreased for 1H2013.
This was mainly due to higher
revenue recognised in 1H2012 on
the sale of bungalows in Bukit
Segar, Kuala Lumpur and
semi-detached houses in Taman
Tanah Aman, Seberang Prai
Tengah.
Segment profit increased mainly
due to a gain of RM16.8 mil from
the sale of an investment property.
Segment Profit
14
Review of Major Operations
1H2012
1H2013
RM Million
250
12%
CHEMICALS, LIVESTOCK,
INVESTMENTS & OTHER
OPERATIONS
200
150
196 219
100
>100%
50
-8.4 16.4
0
-50
Revenue
The growth in revenue was
mainly contributed by increased
bakery sales and higher
contribution from livestock
segment.
Segment profits improved mainly
due to the gain on the disposal of
the Group’s investment in
Tradewinds (M) Berhad.
Segment Profit/ (Loss)
15
5-Year
Financial
Performance
16
5-Year PBT of PPB Group
RM Million
1,800
1,600
1,400
1,200
1,000
800
600
1,732
1,129
1,057
917
471
400
200
-
2009
Note :
2010
2011
2012
Jan-Jun 2013 Year
PBT for FY2010 excludes the gain of RM841 million from the disposal of the sugar-related
assets. If the profit is included, the PBT would be RM1.970 billion.
17
Capital
Commitments
18
Capital Commitments
(All figures in RM’million)
2013
As reported previously (7 March 2013)
592
107
699
(171)
528
Additions/ Project Revision
Amount Spent
Balance to be Spent
19
Capital
by Segments
CapitalCommitments
Commitments
by Segments
RM245 mil
Flour & Feed Milling, & Grains Trading
CAPITAL
RM147 mil
COMMITMENTS
Film Exhibition & Distribution
RM528 mil
RM60 mil
Property Investment & Development
RM48 mil
Bakery
RM9 mil
Frozen Food Processing
RM7 mil
Consumer Products
RM12 mil
Others
20
Dividend
Record
21
DividendRecord
Record
Dividend
Dividend
Per Share
Gross Net
Net
Dividend
Paid/payable
Net
Dividend
Yield
Group
Company
Payout Ratio
Year
(sen)
(sen)
(RM Million)
(%)
(%)
(%)
2013
Interim#
8
8
94.840
0.6
22.2
84.3
2012
20
20
237.100
1.7
28.2
63.0
2011
23
23
272.665
1.3
27.8
28.4
2010*
2009*
88
73
88
73
1,043.240
865.415
5.1
4.6
100.1
53.6
294.1
14.8
* Include Special Dividends of 65 sen per share in year 2010 and 50 sen per share in year 2009.
# The interim single tier dividend of 8 sen per share will be paid on 27 September 2013.
22
Share Price
Performance
23
Share Price Performance
16.00
PPB (23.08.13)
FBM KLCI
1,850.00
RM13.92
14.00
1,800.00
12.00
1,750.00
10.00
1,700.00
8.00
FBM KLCI (23.08.13)
1,721.07
6.00
4.00
2.00
0.00
1,650.00
1,600.00
Jan-Jun 2013
PPB
FBM KLCI
Closing Price (High)
14.16
1,788.43
Closing Price (Low)
12.00
1,613.33
Closing (28.06.13)
14.16
1,773.54
744,345
167,433,601
Average Daily Volume
1,550.00
1,500.00
1,450.00
SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG
2012
2013
FBM KLCI
PPB Shares - Month End Closing Price (RM)
PPB Shares - Month End Closing Price (RM)
Prospects
for
2013
25
Prospects for 2013
The domestic demand in Malaysia is expected to be well
supported by resilient consumer and business
spending. This will continue to drive the performance of
the Group’s core business segments in the remaining
quarters.
Regionally, expansion of the Group’s flour milling
capacity in Indonesia and Vietnam is progressively
coming on-stream to supply additional volume in those
markets. Sustained by continuing robust domestic
consumption, the Group’s overseas operations are
expected to maintain growth for the rest of the year.
26
Prospects for 2013
On the whole, the Group’s operations are expected
to perform well in 2013; nonetheless the overall
financial results depend substantially on Wilmar’s
business performance for the year.
27
28