Jb Foods Ltd. · SGX:BEW
Jb Foods — Shareholder Meeting (April 2021)
25 slides from Jb Foods's shareholder meeting presentation, Apr 28, 2021
Slide 1: JB Foods Limited AGM Shareholders' Presentation
JB FOODS LIMITED AGM Shareholders’ Presentation 28 April 2021
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from such statements. Such risks and uncertainties include industry and economic conditions, competition, and legal, governmental and
Slide 3: Outline
Outline ▸ Cocoa Bean Grinding and Production Statistics Pg. 5 ▸ Introduction ▹ Milestone Pg. 7 ▹ Group Structure Pg. 8 ▹ Our Products Pg. 9 ▹ Our Presence Pg. 10 ▸ Business Performance Review ▹ Financials Pg. 11 to 18 ▸ JB Strength, Expansion & Strategy ▹ Competitive strength Pg. 20 ▹ Growth Strateg
Slide 4: Cocoa Bean Grinding & Production Statistic
Cocoa Bean Grinding & Production Statistic 4
Slide 5: Cocoa bean grinding and production
Cocoa bean grinding and production 5000 4500 4000 3500 3000 2500 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Cocoa production ('000 MT) 2,877 3,179 3,551 3,381 3,811 3,439 3,732 3,593 3,63
Slide 6: Introduction of JB Foods
Introduction of JB Foods 6
Slide 7: Milestones
Milestones 2013 to 2016 to 2000 2012 2015 2021 JB Cocoa incorporated Trading offices JB Cocoa listed in Establishment wholly-owned in 2020 and USA/Eastern Europe/Indonesia Group 3rd factory in subsidiaries in Switzerland, Singapore in year offices in 2013/2014. Group 1st factory in China, completed
Slide 8: Group Structure
Group Structure JB Foods Limited JB Cocoa Europe JB Foods Global JB Cocoa AG JB Cocoa Sdn Bhd OU Pte Ltd (Switzerland) (Malaysia) (Estonia) (Singapore) JB Cocoa Trading JB Cocoa Holding (M) Sdn Bhd Inc (Malaysia) (USA) PT Jebe Trading Indonesia JB Cocoa CI JB Cocoa Inc (Indo) (Cote D’Ivoire) (USA) J
Slide 9: Our Products
Our Products Cocoa Beans More than 90% of our revenue are derived from Cocoa Powder & Cocoa Liquor/Mass Cocoa Butter Cocoa Cake Cocoa Butter Cocoa Powder 9
Slide 10: Our Presence
Our Presence Regional Trading & Sales Office Manufacturing & Warehouse Asia – 4 Employee : 625 Asia – 3 Europe – 2 Asia – 615 America – 1 America – 1 America & Europe - 10 10 Europe - 1 Africa - 1
Slide 11: Business Performance Review
BUSINESS PERFORMANCE REVIEW 11
Slide 12: Financial Highlights – At a glance
Financial Highlights – At a glance (In US$'000) FY2020 FY2019 Y-on-Y Change Revenue 417,754 352,494 18.5% EBITDA 34,256 43,033 -20.4% PAT 19,406 26,223 -26.0% FY2020 FY2019 Y-on-Y Change ROE (%) 13.0% 19.9% -34.6% Dividend payout 22.6% 22.5% 0.4% EPS (US cents) 6.4 8.6 -25.6% NAV per share (US cents
Slide 13: Sales by Region/ Country
Sales by Region/ Country 2020 2019 2018 Revenue USD'000 USD'000 USD'000 Nothr America 94,287 23% 94,277 27% 92,274 28% USA 73,757 18% 83,479 24% 83,017 25% USA, China and Others 20,530 5% 10,798 3% 9,257 3% Russia, remains Asia 185,461 44% 135,236 38% 143,327 44% our top 3 revenue China 50,987 12%
Slide 14: JB Foods Performance
JB Foods Performance Revenue (USD'm) PBT (USD'm) 417.8 34.1 352.5 31.7 327.1 300.1 295.6 22.5 16.9 4.4 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 2020 Revenue & Profitability - CAGR • 5 years CAGR at 6.8% in revenue; • 5 years CAGR at 38.6% in profitability (“PBT”). 14
Slide 15: JB Foods banking trade facilities
JB Foods banking trade facilities 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil USD'mil Banking Facilities 64.7 78.0 109.5 113.4 115.0 130.0 150.0 199.8 223.0 235.9 Utilisation 44.4 53.6 87.4 102.6 85.2 101.6 78.5 80.3 168.7
Slide 16: Profit and Loss Analysis
Profit and Loss Analysis (In US$'000) FY2020 FY2019 Y-on-Y Change Notes Revenue 417,754 352,494 65,260 19% N1 Cost of sales (368,599) (300,622) (67,977) 23% N2 Gross profit 49,155 51,872 (2,717) -5% N2 GP margin 11.8% 14.7% -2.9% N2 - Interest income 131 89 42 47% Other gains, net (2,084) 1,418 (3,5
Slide 17: Balance Sheet Analysis
Balance Sheet Analysis 2020 2019 2020 2019 Extract of Balance sheet USD'000 USD'000 Variance Extract of Balance sheet USD'000 USD'000 Variance - #DIV/0! Non-current assets 114,157 95,918 18,239 19% Current liabilities (204,333) (213,318) 8,985 -4% PPE 96,447 80,493 15,954 20% N1 Trade payables (20,0
Slide 18: Cash Flow Analysis
Cash Flow Analysis 2020 2019 Statement USD'000 USD'000 Changes Explanatory Operating cash flows before Lower changes in working capital mainly due working capital changes 39,375 42,286 (2,911) to lower demand and uncertainty caused by Changes in working capital (166) (84,554) 84,388 Covid-19 pandemi
Slide 19: JB Cocoa Competitive Strength & Strategy
JB COCOA COMPETITIVE STRENGTH & STRATEGY
Slide 20: JB Cocoa Competitive Strengths
JB Cocoa Competitive Strengths Loyal and supportive customer • Such as Mars, Nestle, Mondelez and Hersheys are base our long standing customers • Efficient and nimble decision making Management focus • Focus on product development and service quality • Management – strong experience in cocoa industr
Slide 21: Our Growth Strategy
Our Growth Strategy
Slide 22: Our Growth Strategy
Our Growth Strategy Sustainable Growth • Strengthen our Indonesia sustainable bean sourcing team Procurement • Developing cocoa bean sustainability team in West Africa & South America Operations & • Focus on cost efficiency and optimise plant utilisation • Energy conservation, waste optimization and
Slide 23: Key Takeaways
Key Takeaways
Slide 24: Key Takeaways
Key Takeaways ▸ Cocoa terminal prices remains volatile (weather, crops yield, supply & demand from grinding and consumptions) ▸ Headwinds and uncertainty in the Cocoa market due to Covid-19 pandemic and effect of LID on cocoa beans in Ivory Coast and Ghana ▸ Balanced business growth strategy ▹ Expan
Slide 25: Thanks!
COMMITMENT TO SUSTAINABLE QUALITY THANKS!