DISCLAIMER. Indofood Agri Resources Ltd.

Transcription

1 INTEGRATED PLANTATION WITH LEADING BRANDS Company Presentation Q 2008 Results 29 April 2008

2 DISCLAIMER This presentation was prepared solely and exclusively for the parties presently being invited for the purposes of discussion. Neither this presentation nor any of its content may be reproduced, disclosed or used without the prior written consent of Indofood Agri Resources Ltd. This presentation may contain statements that convey future oriented expectations which represent the Company s present views on the probable future events and financial plans. Such views are presented on the basis of current assumptions, are exposed to various risks, and are subject to considerable changes at any time. Presented assumptions are presumed correct at the, and based on the data available on the, date at which this presentation is assembled. The Company warrants no assurance that such outlook will, in part or as a whole, eventually be materialized. Actual results may diverge significantly from those projected. Indofood Agri Resources Ltd. All rights reserved. 2

3 PRESENTATION OUTLINE. Strategic Direction 2. Financial Highlights 3. Financial Position 4. Segment Information 5. Sales Breakdown 6. Plantation Highlights 3

4 Strategic Direction PLANTATION Continue to expand new planting area to achieve 250,000 ha of planted area by 200 Planting of 35,000 ha in 2008 COOKING OIL & FATS Strengthen brands identity and brand loyalty by Advertising & Promotion programs, to build brand equity Increase focus on High Class Outlets (HCO) in line with HCO rapid growth. Self sufficiency in supply of CPO COMMODITY Strengthen business model to improve profitability Increase utilization of copra mills Explore additional export opportunities 4

5 IndoAgri Q 2008 Results Highlights Revenue increased by 37% to Rp2,850 bn Gross Profit rose by 376% to Rp,77 bn, GP% from 2% to 4% EBITDA increased by 466% to Rp,33 bn, EBITDA% from 7% to 40% Profit after Tax increased 586% to Rp704 bn Strong results driven by: Acquisitions, mainly Lonsum Increased CPO prices Increased volume in branded cooking oil and margarine Margin growth in Cooking Oil & Fats and Commodity Division 5

6 Financial Highlights Rp bn Description i Q 2008 Q 2007 Growth Q Growth Sales 2,850 00%,202 00% 37% 2,288 00% 25% Gross Profit,7777 4% 247 2% 376% % 47% EBITDA,33 40% 200 7% 466% % 09% Gains arising i from 87 7% n.m. 67 3% n.m. changes in fair value of biological assets Operating Profit,077 38% 257 2% 39% 55 24% 96% Tax Expense 308 % 77 6% 302% 80 8% 7% Net Profit After Tax % 03 9% 586% 294 3% 39% Earnings per Share () Rp % 87 00% () on a weighted average and fully diluted basis 6

7 Financial Highlights Q 2008 Rp bn Description IndoAgri*) Lonsum Combined Sales,853 00% % 2,850 00% Gross Profit 758 4% 49 42%,77 4% EBITDA 7 38% %,33 40% Operating Profit % %,077 38% Tax Expense 90 0% 8 2% 308 % Net Profit After Tax % % % *) includes the eliminations and FRS adjustments 7

8 Financial Position Growing Business with low gearing Rp bn Description 3 Mar Dec 2007 TOTAL ASSETS 9,793 8,82 Cash,405,702 TOTAL LIABILITIES 9,268 8,99 Interest t Bearing Debt 5,296 5,343 TOTAL EQUITY 0,525 9,82 Net Debt / Equity Ratio 0.37x 0.37x Net Assets Value per Share 5,37 4,943 8

9 IndoAgri Q 2008 Results 6,506 Rp bn SALES 2,850,202,436,579 2,288 Inc 37% Q 2008 Q 2007 Q Q Q Q Q Q FY2008 FY2007,552,33 EBITDA Inc 466% 200 Q 2008 Q 2007 Q Q Q Q Q Q FY2008 FY2007,602 OPERATING PROFIT, Inc 39% 9 Q 2008 Q 2007 Q Q Q Q Q Q FY2008 FY2007

10 Segment Information Rp bn DESCRIPTION SALES EBITDA EBITDA% Q 2008 Q 2007 Q 2008 Q 2007 Q 2008 Q 2007 Plantations,80 367, % 66.% IndoAgri % 66.% Lonsum % Elimination (5) (28) Cooking Oil & Fats, % 3.0% Commodity % 3.9% Elimination & Adjustment (842) (290) () (80) Total 2,850,202, % 6.7% 0

11 Segment Information Q 2008 EXTERNAL SALES % EBITDA 7% 3% 34% % 55% Plantation Cooking Oil Commodity 90%

12 Sales Breakdown Plantation (MT) CPO Q 2008 Q 2007 % 69,60 65,697 57% PK 37,683 5, % Cooking Oil & Fats Volume (MT) Cooking Oil *) 0,630 84,99 20% Margarine 39,886 37,945 5% *) Commodity Volume (MT) Coconut Oil & Derivatives 23,000 37,74 (39%) **) Palm Oil & Derivatives 7,324 0,984 (33%) External Sales Value (Rp bn) Plantation nm n.m. Cooking Oil & Fats, % Commodity % **) Note: *) exclude by products **) timing of shipment 2

13 Plantation Highlights In Hectares 3 Mar Dec 2007 Increase Total Land Bank 406,59 406,59 IndoAgri 237, ,262 Lonsum 69,257 69,257 Planted Area Oil Palm IndoAgri 65,853 93,996 6,457 9,985 4,396 2,0 Lonsum 7,857 69,472 2,385 Mature Area Oil Palm 22,5 8,030 4,2 IndoAgri 66,92 65,34,57 Lonsum 55,239 52,689 2,550 3

14 Plantation Highlights Q 2008 Q 2007 Growth Q Growth FFB Production ( 000 tons) % 573 (%) IndoAgri % 385 (4%) Lonsum 238 n.m % FFB Yield (Ton / Ha) IndoAgri Lonsum CPO Production ( 000 tons) % 68 % IndoAgri Lonsum % n.m (3%) 20% CPO Extraction Rate (%) IndoAgri Lonsum PK Production ( 000 tons) % 38 (%) IndoAgri Lonsum PK Extraction Rate (%) % n.m (5%) 9% IndoAgri Lonsum

15 Plantation Production,506,40 In MT FFB 568, ,65 294, ,79 572,748 Incc 03% Q 2008 Q 2007 Q Q Q Q Q Q FY2008 FY ,96 CPO 70,02 65,242 68,34 8,999 68,407 Inc 6% Q 2008 Q 2007 Q Q Q Q Q Q FY2008 FY ,878 PK 37,408 37,740 Inc 62% 4,258 5,053 7,827 5 Q2008 Q2007 Q Q Q Q Q Q FY2008 FY2007

16 Cooking Oil & Fats Sales 37,038 (in MT) Sales Volume Cooking Oil 0,630 84,99 90,654 05,376 90,08 Inc 20% Q2008 Q2007 Q Q Q Q Q Q FY2008 FY ,474 Sales Volume Margarine 39,886 37,944 50,456 54,30 40,943 Inc 5% Q2008 Q2007 Q Q Q Q Q Q FY2008 FY2007 (in Rp mn) Sales Value 4,402,844,553, ,28,05,362,33,26,27,94 Inc 89% Q2008 Q2007 Q Q Q Q Q Q FY2008 FY2007 6

17 Commodity Sales Sales Volume Coconut Oil & Derivatives 08,75 (in MT) 23,000 37,74 22, ,000 34,20 Dec 39% Q2008 Q2007 Q Q Q Q Q Q FY2008 FY2007 Sales Volume Palm Oil & Derivatives 44,46 20,884 Dec 33% 7,324 0,984 8, ,848 Q2008 Q2007 Q Q Q Q Q Q FY2008 FY2007 (in Rp mn) Sales Value,75,92 Inc 8% 328, ,848 37,693 95, ,70 Q2008 Q2007 Q Q Q Q Q Q FY2008 FY2007 7

18 Diversified EndUser Markets Q 2008 External Sales 8% Consumer 2% Industrial 0% 2% 38% 7% Consumer Pack 2% SemiConsumer Pack 7% 9% Industrial Cooking Oil Crude Palm Oil & Palm Kernel Other Intermediate & Byproducts Margarine & Shortening Crude Coconut Oil / RBD Coconut Oil 25% 8

19 Revenue by Geographical Market Q % 2% 3% 20% Indonesia 66% Asia Europe Africa, Middle East and Oceania America 9

20 SUPPLEMENTAL INFORMATION 20

21 Hectare Statement (Combined Group) Q 2008 Oil Palm Mature Immature Total Plantations plantations plantations Planted Area Location (hectares) (hectares) (hectares) Riau 56, , North Sumatra South Sumatra West Kalimantan East Kalimantan Java 30,864 9,89 0,77 4,556 3,674 2,5 8,42 9, ,538 40,970 8,859 4,48 2 Total 22,5 43,702 65, % Crop Oil palm Rubber Cocoa Others Mature plantations (hectares) 22,5 8,95 2, Immature plantations (hectares) 43,702 3, Total Planted Area (hectares) 65,853 22,325 2, Total 43,938 47,606 9, %

22 Age Profile of Oil Palm Plantations Q 2008 In Hectares Average Up to to 20 Above Age years years years 20 years Total IndoAgri 3 24,952 5,086 39,956 24,002 93,996 Lonsum 2,342,407 42,056 6,052 7,857 Total 2 37,294 6,493 82,02 30, ,853 Percentage of total planted area

23 Hectare Statement (IndoAgri) Q 2008 Oil Palm Plantations Location Mature plantations (hectares) Immature plantations (hectares) Total Planted Area (hectares) Riau South Sumatra West Kalimantan East Kalimantan 56,95 0, ,209 8,42 9, ,003 8,209 8,859 9, Total 66,92 27,084 93, % Mature Immature Total Crop () plantations plantations Planted Area % (hectares) (hectares) (hectares) Oil palm 66,92 27,084 93, Rubber 5,05 5,05 5 Total 7,927 27,084 99,

24 Hectare Statement (Lonsum) Q 2008 Oil Palm Plantations Location Mature plantations (hectares) Immature plantations (hectares) Total Planted Area (hectares) North Sumatra 30,864 3,674 34, South Sumatra Java Sulawesi East Kalimantan 9,89 4,556 2, ,76 2 4, Total 55,239 6,68 7, Crop Mature plantations (hectares) Immature plantations (hectares) % Total Planted Area % (hectares) Oil palm Rubber 55,239 3,900 6,68 3,40 7,857 7, Cocoa Others 2, , Total 72,0 20,522 92,

25 Production Capacity as of 3 March 2008 Facilities Riau North South Annual processing Sumatra Sumatra Java Kalimantan Sulawesi Total capacity (tonnes) Palm Oil Mill ,756,000 FFB Copra Crushing ,000 Copra Refineries Refinery Fractionation Margarine , , ,500 CPO RBDPO Margarine Crumb rubber factories 3 25,056 Dry rubber Sheet rubber factories 2 6,880 Dry rubber Cocoa factories 3,750 Dry beans Tea factory,728 Black tea Total

26 THANK YOU 26