Ye a r-to -Da te Q3 F Y2008 F ina nc ia l Re sults Aug ust 2008 - PowerPoint PPT Presentation

Ye a r-to -Da te Q3 F Y2008 F ina nc ia l Re sults Aug ust 2008

ORMANCE Hig hlig hts Ne t Sa le s YoY % YT D Q3 2007 YT D Q32008 Sale s (PhP MM) 32.392 BCF G* 20,979 25,222 +20% 27,481 RF Agr o- 0 10,000 20,000 30,000 Industr ial PE 3,919 3,911 (0% ) Commodity AL F oods (Ne t) Ope ra ting Inc o me 2,583 3,259 +26% NANCI T otal URC 27,481 32,392 +18% 2,715 2,423 Ope ra ting Inc ome (PhP MM) 0 1,000 2,000 3,000 BCF G* 1,345 1,595 +19% I F Core Earnings Agr o- Industr ial 2,712 588 277 (53% ) 2,497 Commodity 0 1,000 2,000 3,000 F oods 846 1,252 +48% Cor por ate (356) (409) YTD Q3 FY2008 YTD Q3 FY2007 T otal URC 2,423 2,715 +12% * BCF G fig ure s inc lude Do me stic , I nte rna tio na l, a nd Pa c ka g ing

ORMANCE Bra nde d Co nsume r F o o ds - Philippine s • Do me stic sa le s sho w YoY % YT D Q3 2007 YT D Q3 2008 Sale s (PhP MM) impre ssive do ub le dig it RF g ro wth a c ro ss a ll Snac kfoods 8,706 10,517 +21% c a te g o rie s PE Be ve r age 3,818 4,269 +12% • Sna c kfo o ds surg e s o n Gr oc e r y 1,645 1,932 +17% AL impro ve d de ma nd a nd Othe r s 596 771 +29% split o f Sna c ks/ Bisc uits NANCI sa le s fo rc e T otal 14,765 17,489 +18% • Be ve ra g e c o ntinue s to drive ma rke t g ro wth Ope ra ting Inc ome (PhP MM) • Gro c e ry hit b y rising input I F pric e s, b ut ha ve Snac kfoods 1,219 1,297 +6% re c o ve re d Be ve r age 425 375 (12% ) • E xpo rts a ffe c te d b y rising Gr oc e r y (30) 115 +489% Philippine pe so Othe r s 22 (1) (105% ) T otal 1,637 1,786 +9% No te : E xc lude s pac kaging

T E MARK Dominant Mar ke t Shar e maintaine d CAT E GORY MARKE T #1 #2 #3 NE SHARE Sna c ks 42% 19% 9% PPI Ca ndie s 47% 10% 9% I L Cho c o la te s 24% 10% 8% PHI Co o kie s 35% 28% 14% Pre tze ls 68% 17% 11% T o ma to Sa uc e 8% 82% 5% Ca nne d Be a ns 74% 13% 6% No o dle s* 13% 77% 3% Source: AC Nielsen survey MAT by value based on Mar / Apr 08 and CAT E GORY MARKE T #1 #2 #3 Apr / May 08 readings SHARE RT D T e a * 78% 10% 5% Co ffe e 10% 82% 4% * RTD Tea – MAT Mar 2008; Noodles – MAT Apr 2008

ORMANCE Bra nde d Co nsume r F o o ds - I nte rna tio na l • US$ sa le s fo r the pe rio d YoY % YT D Q3 2007 YT D Q3 2008 Sale s (U S $ M) a lre a dy hig he r tha n e ntire RF F Y2007 T ha ila nd 56 71 +27% PE • C2 sa le s vo lume in Ma la ysia / SG 23 30 +28% Vie tna m surg ing ; I ndo ne sia 19 19 (1%) AL o pe ra tio ns pro fita b le in China / HK 11 15 +45% la st two q ua rte rs NANCI Vie tna m 4 21 +408% • C2 no w b e ing e xpo rte d to T ha ila nd, Ma la ysia , a nd T otal 113 156 +38% I ndo ne sia Ope ra ting Inc ome (U S $ M) I F T ha ila nd 4.6 4.8 +4% Ma la ysia / SG 1.0 0.6 (38%) I ndo ne sia (1.8) (3.2) (75%) China / HK (3.9) (6.3) (61%) Vie tna m (3.1) (0.8) +76% T otal (3.4) (4.9) (47% )

ORMANCE Ag ro -I ndustria l Gro up URC F e e ds YT D Q3 2007 YT D Q3 2008 YoY % Sale s (PhP MM) • L o we r vo lume due to le ss RF a nima ls o n the ma rke t F e e ds 1,897 1,804 (5% ) PE • Hig he r fe e d pric e s due F ar ms 2,022 2,107 +4% to rising c o sts o f inputs AL T otal 3,919 3,911 (0% ) suc h a s c o rn a nd fe e d NANCI whe a t Ope ra ting Inc ome (PhP MM) URC F a rms F e e ds 268 168 (37% ) • Hig he r me a t pric e s I F c a use d b y lo we re d F ar ms 320 109 (66% ) supply due to hig h fe e d T otal 588 277 (53% ) c o sts

ORMANCE Co mmo dity F o o ds Gro up URC Sug a r YT D Q3 2007 YT D Q3 2008 YoY % Sale s (PhP MM) • PASSI sug a r mill a c q uire d RF in Oc to b e r F lour 2,672 3,683 +38% PE • I nitia l de la y in milling due Sugar 1,748 2,168 +24% to ra iny we a the r during AL Subtotal 4,420 5,851 +32% sta rt o f se a so n NANCI T r ansfe r s (1,837) (2,591) +41% URC F lo ur T otal 2,583 3,259 +26% • Whe a t pric e s inc re a sing wo rldwide , b ut URC I F suc c e ssfully b o o ke d Ope ra ting Inc ome (PhP MM) lo we r c o st o f whe a t F lour 270 564 +109% inve nto ry Sugar 576 688 +19% T otal 846 1,252 +48%

ORMANCE Asse ts a nd L ia b ilitie s Ba la nc e She e t F Y 2007 Q3 F Y2008 Ca sh a nd F ina nc ia l De bt (PhP MM) (PhP MM) Cash and Cash 21,592 16,327 RF E quivale nts 25,000 PE Othe r Cur re nt Asse ts 11,747 17,421 21,592 21,379 Pr ope r ty Plant and 22,267 23,597 20,000 AL E quipme nt – ne t 18,831 Othe r non- c ur r e nt 3,068 3,822 16,327 NANCI Asse ts 15,000 T otal Asse ts 58,674 61,167 10,000 Curre nt L ia bilitie s 13,881 17,734 I 5,000 F Nonc ur r e nt L iabilitie s 9,797 9,489 T otal L iabilitie s 23,678 27,223 0 FY2007 Q3 FY2008 Re taine d E ar nings 20,300 19,868 Cash, Mkt. Se c uri ti e s, T e m p. I nve stm e nts Othe r E quity 14,696 14,075 F i nanc i al De bt T otal E quity 34,996 33,943

ANS Pla ns a nd E xpe c ta tio ns PL Cor por ate • Co ntinue 50% divide nd pa y-o ut po lic y • Pursue M&A tha t will a dd va lue to the c o mpa ny • Ca pita l e xpe nditure s o f a b o ut P3 b illio n in F Y2008 • Sto c k b uy-b a c k pro g ra m E xpe c tations • Po sitive tre nds in do me stic BCF G to c o ntinue , e spe c ia lly in sna c kfo o ds • F urthe r re c o ve ry in inte rna tio na l vo lume s, pa rtic ula rly in T ha ila nd a nd Vie tna m • He a lthy vo lume s b ut ma rg in pre ssure fo r fa rms a nd fe e ds • I mpro ve d pro fita b ility in flo ur • Re ve nue a nd E BI T g ro wing in the mid-te e ns

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