Fraser & Neave Ltd. · SGX:F99
Fraser & Neave — FY2011 Earnings Presentation
7 slides from Fraser & Neave's earnings presentation, Nov 15, 2011
Slide 1: Financial highlights
JOSEPH TAN CHIEF FINANCIAL OFFICER, F&N HOLDINGS BHD 15 November 2011 Financial highlights • Double-digit profit improvement • Strong volume growth in Soft Drinks and Dairies Thai • Margins improved despite higher input costs • Lower tax rate lifted PAT Continuing Ops Change FY10/11 LY (Mil) (%) Rev
Slide 2: Financial highlights and Revenue
Financial highlights • EPS gained 15.7 sen on strong earnings • Ordinary dividend increased 12.5 sen • Net cash position remained healthy at RM140m Key ratios : Continuing Ops FY10/11 LY Change (%) EPS sen 102.9 86.2 +20.1% NAV RM 4.33 5.03 -14.0% Net DPS sen 97.0 164.5 -41.0% - ordinary sen 67.0 54
Slide 3: PBIT and 5-Year Revenue and PBIT trends
PBIT • Soft Drinks profit +40.9%, driven by strong topline growth • Strong brands and successful marketing execution • PBIT margins gained on favourable product mix & operating efficiencies • Dairies earnings adversely affected by high input costs, particularly Mal • Dairies Thai affected by one-off
Slide 4: Soft drinks and Dairies Malaysia
Soft drinks – yet another record-breaking feat +12.2% • PBIT leapt on margin improvement, PET line savings and strong topline growth • Strong sales momentum continued; volume (69.8m cases) at all-time high • F&N volume alone surpassed FY07/08 +16.0% 1,843 volume 1,589 • Core brands delivered good gr
Slide 5: Dairies Thailand and Properties / others
Dairies Thailand – future growth engine +12.3% • Volume jumped 12% • Thailand recorded broad-based growth of 9% • Indochina saw 40% growth • Greater inroads into Indochina / appointed distributor in Vietnam +12.5% 975 • Revenue improved on better pricing of sterilized milk and SBC 867 • PBIT decline
Slide 6: Dividends and Priorities for FY 2011 / 2012
Dividends 164.50 97.00 Sen per share 40.08 41.75 +22.9% • Final dividend of 62 sen - (47 sen ordinary and 15 sen special) • Ordinary dividend of 67 sen is 23% above LY * - exclude special dividends of 110sen & 30 sen in FY10 & FY11 respectively Priorities for FY 2011 / 2012 A year of transformation
Slide 7: Prospects - FY 2011 / 2012
Prospects - FY 2011 / 2012 - Halal hub tax incentive - Defend core / drive new category - New product launches /tetra assault - Total juice strategy - 100PLUS export / Singapore co-pack - Canned milk repositioning / exports - Building customer loyalty in Thailand - Loss of KO business - Dairies Mal