FY15 RESULT PRESENTATION Jakarta, 28 March 2016 Financial Results - PowerPoint PPT Presentation

FY15 RESULT PRESENTATION Jakarta, 28 March 2016

Financial Results FY15, 28 March 2016 Highlights FY15 • Inflation rate declined from 8.36% YoY (FY14) to 3.35% YoY (FY15) • Rupiah depreciated from 12,440 (FY14) to closing at 13,795 (FY15) • CPO prices (CIF Rotterdam) weakened from US$ 816 / MT (FY14) to US$ 615 / MT (FY15) 2

Financial Results FY15, 28 March 2016 CPO Price Monthly Average CPO Price (CIF Rotterdam) 902 906 898 853 860 861 858 845 837 776 754 720 679 680 665 654 577 562 541 Dec-12 Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15 Source : Oil World (in US$/Ton) 3

Financial Results FY15, 28 March 2016 Financial Performance Rp Bn FY14 * FY15 Growth FY14 * FY15 Net Sales 63,594.5 64,061.9 0.7% Gross Profit Margin 26.9% 26.9% Cost of Goods Sold 46,465.6 46,803.9 0.7% EBIT Margin 11.5% 11.5% Gross Profit 17,128.8 17,258.1 0.8% EBITDA Margin 14.8% 15.3% Net Income Margin 1) Selling & distribution expenses (6,241.4) (6,885.6) 10.3% 6.2% 4.6% General & administrative expenses (3,902.2) (3,495.4) -10.4% EPS 1) Other operating income 727.0 859.2 18.2% 449 338 Other operating expenses (392.6) (373.3) -4.9% ROA 2) Income From Operations (EBIT) 7,319.6 7,362.9 0.6% 6.4% 4.2% ROE 2) EBITDA 9,440.5 9,810.6 3.9% 13.4% 8.9% ROCE 2) Finance income 692.6 599.2 -13.5% 11.1% 10.7% Finance expenses (1,553.0) (2,665.7) 71.7% Share in net income (loss) of Associates (119.1) (334.3) 180.8% Income Before Income Tax Expense 6,340.2 4,962.1 -21.7% Income tax expense - net (1,855.9) (1,730.4) -6.8% Income for the period from continuing operations 4,484.2 3,231.7 -27.9% Income for the period from a discontinued operation 745.2 477.8 -35.9% Income for the period 5,229.5 3,709.5 -29.1% Equity holders of the parent entity 3,941.8 2,968.0 -24.7% Non-controlling interests 1,287.7 741.5 -42.4% Core Profit 1) 3,948.3 3,562.8 -9.8% 1) Income for the period attributable to equity holders of the parent entity 2) Returns represent total returns including non-controlling interests * Restated 4

Financial Results FY15, 28 March 2016 Changes in Sales and EBIT Sales (Rp Bn) EBIT (Rp Bn) ** ( ) 1,793.8 561.0 ( ) 879.0 113.7 63,594.5 64,061.9 ( ) 111.0 756.3 ( ) 728.6 ( ) 6,985.2 25.0 6,877.0 + 467.4 - 108.2 FY14 * CBP Bogasari Agribusiness Distribution FY15 FY14 * CBP Bogasari Agribusiness Distribution FY15 * Restated ** After elimination and before unallocated expenses (other operating income and other operating expenses) 5

Financial Results FY15, 28 March 2016 Segment Contribution Sales (Rp Bn) 1) EBIT (Rp Bn) 2) 6,985.2 64,061.9 6,877.0 63,594.5 2.8% 2.5% 7.8% 7.6% Distribution 21.9% 18.8% 20.3% 32.0% Agribusiness 19.5% 24.1% 25.2% 20.8% Bogasari Consumer Branded 56.1% Products 49.3% 46.9% 44.4% FY14 * FY15 FY14 * FY15 1) After elimination 2) After elimination and before unallocated expenses (other operating income and other operating expenses) * Restated 6

Financial Results FY15, 28 March 2016 CBP Sales (Rp Bn) EBIT (Rp Bn)** 12.2% 10.3% 31,736.0 29,920.9 3,856.3 3,095.9 FY14 * FY15 FY14 * FY15 Sales Growth 6.1% EBIT Growth 24.6% * Restated ** Before elimination and unallocated expenses (other operating income and other operating expenses) 7

Financial Results FY15, 28 March 2016 Bogasari Sales (Rp Bn) EBIT (Rp Bn)** 7.3% 7.0% 19,926.1 19,177.0 1,456.8 1,341.0 FY14 * FY15 FY14 * FY15 Sales Growth -3.8% Volume Growth (Food Flour) 1% EBIT Growth -7.9% * Restated ** Before elimination and unallocated expenses (other operating income and other operating expenses) 8

Financial Results FY15, 28 March 2016 Agribusiness Sales (Rp Bn) EBIT (Rp Bn)** 15.0% 10.9% 14,947.2 13,803.0 2,234.8 1,505.6 FY14 * FY15 FY14 * FY15 Sales Growth -7.7% EBIT Growth -32.6% * Restated ** Before elimination and unallocated expenses (other operating income and other operating expenses) 9

Financial Results FY15, 28 March 2016 Distribution Sales (Rp Bn) EBIT (Rp Bn)** 4.0% 3.5% 4,978.3 4,864.6 196.9 172.0 FY14 * FY15 FY14 * FY15 Sales Growth 2.3% EBIT Growth -12.7% * Restated ** Before elimination and unallocated expenses (other operating income and other operating expenses) 10

Financial Results FY15, 28 March 2016 Financial Position Rp Billion FY14 * FY15 Growth Cash & Cash Equivalent 14,157.6 13,076.1 -7.6% Total Assets 86,077.2 91,831.5 6.7% Total Equity 40,274.2 43,121.6 7.1% Funded Debt 26,933.6 27,605.8 2.5% - Fcy (in US$ mn) 1,131.8 822.5 -27.3% - Rupiah 12,854.0 16,258.9 26.5% Rp Billion FY14 * FY15 Growth Short Term Debt & Trust Receipt ** 8,992.6 7,719.1 -14.2% Current Maturities 1,103.1 2,992.7 171.3% Long Term Debt 16,837.9 16,894.0 0.3% Total Funded Debt 26,933.6 27,605.8 2.5% Note: * Restated ** Trust Receipts: US$ 315.34 Mn (FY14) and US$ 11.14 Mn (FY15) 11

Financial Results FY15, 28 March 2016 Debt Composition 47.7% 61.2% 62.5% 58.9% 52.3% 41.1% 38.8% 37.5% FY14 * FY15 FY14 * FY15 Short Term & T/R Long Term Foreign Currency Debt Rupiah Debt Times FY14 * FY15 Gross Gearing 0.67 0.64 Net Gearing 0.32 0.34 Interest Coverage Ratio 6.3 6.4 * Restated 12

Financial Results FY15, 28 March 2016 Cash Flow Rp Billion FY14 * FY15 Net Cash Generated from Operating Activities 9,269.3 4,213.6 Net Cash Used in Investing Activities (10,162.6) (5,665.9) Net Cash Provided by / (Used in) Financing Activities 1,402.7 (140.8) Net Effects of Changes in Exchange Rates on Cash & Cash 129.6 514.7 Equivalents Net Increase / (Decrease) in Cash & Cash Equivalents 639.1 (1,078.4) Cash & Cash Equivalents at Beginning of Year ** 13,518.7 14,040.4 Cash & Cash Equivalents at End of Year ** 14,157.8 12,962.0 * Restated ** Cash & Cash Equivalents – Beginning & End after taking into account overdraft 13

Financial Results FY15, 28 March 2016 Capital Expenditure Budget Group / Division Budget 16 CBP 3,865 Bogasari 1,367 Agribusiness 1,968 Distribution 375 Total 7,574 14

Financial Results FY15, 28 March 2016 APPENDIX 15

Financial Results FY15, 28 March 2016 Segment Performance: Indofood Volume 1) EBIT Margin 2) Sales (Rp Bn) EBIT (Rp Bn) Division FY14 * FY15 Growth Growth FY14 * FY15 Growth FY14 * FY15 Consumer Branded Products 29,920.9 31,736.0 6.1% 3,095.9 3,856.3 24.6% 10.3% 12.2% Bogasari 19,926.1 19,177.0 -3.8% 1% 1,456.8 1,341.1 -7.9% 7.3% 7.0% Agribusiness 14,947.2 13,803.0 -7.7% 2,234.8 1,505.6 -32.6% 15.0% 10.9% Distribution 4,864.6 4,978.3 2.3% 196.9 172.0 -12.7% 4.0% 3.5% Total 69,658.8 69,694.2 0.1% 6,984.4 6,875.0 -1.6% Elimination (6,064.4) (5,632.3) 0.8 2.0 Unallocated Income (Expenses) 334.4 485.9 Net 63,594.5 64,061.9 0.7% 7,319.6 7,362.9 0.6% 11.5% 11.5% 1) Food Flour only 2) EBIT margin per segment: Before elimination and unallocated expenses * Restated 16

Financial Results FY15, 28 March 2016 Segment Performance: ICBP (based on ICBP figures) Sales (Rp Bn) Volume EBIT (Rp Bn) EBIT Margin ¹⁾ Division FY14 * FY15 Growth Growth FY14 * FY15 Growth FY14 * FY15 Noodles 19,915.6 20,996.1 5.4% 1% 3,022.0 3,479.0 15.1% 15.2% 16.6% Dairy 5,248.2 5,879.8 12.0% 17% 321.6 569.0 76.9% 6.1% 9.7% Snack Foods 2,002.2 1,989.3 -0.6% -9% 27.5 83.9 205.0% 1.4% 4.2% Food Seasonings 1,146.4 1,246.5 8.7% -3% 88.7 91.3 3.0% 7.7% 7.3% Nutrition & Special Foods 577.8 610.2 5.6% -4% 11.8 14.1 18.9% 2.0% 2.3% Beverages 1,923.0 1,842.0 -4.2% 0% (351.5) (330.9) 5.9% -18.3% -18.0% Elimination (790.7) (822.8) (0.6) 1.6 Unallocated Income (Expenses) 65.8 84.3 Net 30,022.5 31,741.1 5.7% 3,185.3 3,992.4 25.3% 10.6% 12.6% 1) EBIT margin per segment: Before elimination and unallocated expenses 17 * Restated

Financial Results FY15, 28 March 2016 Segment Performance: Agribusiness (based on SIMP figures) Sales (Rp Bn) Volume EBIT (Rp Bn) EBIT Margin ¹⁾ Division FY14 * FY15 Growth Growth FY14 * FY15 Growth FY14 * FY15 Plantations 10,277.5 9,149.0 -11.0% 2,380.6 1,434.3 -39.8% 23.2% 15.7% CPO 3% PK, PKO, PKE 7% Sugar -9% Rubber 0% Edible Oils & Fats 9,834.6 8,419.4 -14.4% -4% 95.5 199.0 108.4% 1.0% 2.4% Elimination (5,149.5) (3,733.0) 125.0 2.4 Unallocated Income (Expenses) (121.1) (3.7) Net 14,962.7 13,835.4 -7.5% 2,480.0 1,631.9 -34.2% 16.6% 11.8% 18

Financial Results FY15, 28 March 2016 Combined Plantations Area as of December 31, 2015 In Hectar 31 Dec, 31 Dec, Increase/ Oil Palm Plantations Profile 2014 2015 (Decrease) Nucleus 7 - 20 yrs, Over 20 yrs, 47% 25% Total Planted Area 300,050 300,633 583 Planted Oil Palm 246,055 246,359 304 - Mature 185,181 187,400 2,219 - Immature 60,874 58,959 (1,915) 4 - 6 yrs, Immature, 4% 24% Other Crops - Rubber 21,697 21,338 (359) - Sugar 13,062 13,358 296 - Industrial Timber 16,169 16,216 47 - Others * 3,067 3,362 295 *) Cocoa and Tea 19