Download Analyst Briefing for 31 Dec 2012 Final Year Results

PPB GROUP BERHAD
Press and Analyst Briefing
Unaudited FY2012 Results
7 March 2013
Disclaimer: The contents of this presentation
include materials which may be capable of
being
interpreted
as
forward-looking
statements. Such statements are merely
estimates and targets, based on circumstances
and reasonable assumptions which apply only
at the date of such statements. Accordingly, no
reliance should be placed on any forwardlooking statements, express or
implied,
contained in this presentation.
1
Agenda
Group Financial Highlights
Review of Major Operations
5-Year Financial Performance
Capital Commitments
Dividend Record
Share Performance
Prospects for 2013
2
Group
Financial
Highlights
3
Financial Results FOR THE YEAR ENDED 31 DEC 2012
Grains Trading, Flour & Feed Milling
Marketing , Distribution & Manufacturing
of Consumer Products
PPB Group
Operations
Film Exhibition & Distribution
Waste Management & Utilities
Property Investment & Development
Chemicals, Livestock, Investments &
Other Operations
4
Financial Results FOR THE YEAR ENDED 31 DEC 2012
(All figures in RM)
Revenue
Operating Expenses
PBT*
Profit for the Year
EPS
*Share of Wilmar’s Profit
2012
3.018 bil
2.881 bil
0.917 bil
0.868 bil
71.04 sen
0.694 bil
2011 CHANGE
2.711 bil
2.566 bil
1.057 bil
1.013 bil
82.70 sen
0.790 bil
11%
12%
13%
14%
14%
12%
5
Financial Ratios FOR THE YEAR ENDED 31 DEC 2012
EPS
ROE Attributable to
Owners of the Parent
Net Assets Per Share Attributable
to Owners of the Parent
2012
2011
71.04 sen
82.70 sen
5.9%
7.0%
RM12.04
RM11.86
6
Segmental Information FOR THE YEAR ENDED 31 DEC
2012
58.17% Grains Trading, Flour & Feed Milling
TOTAL
REVENUE
RM3.018 bil
Marketing, Distribution & Manufacturing
12.24%
of Consumer Products
9.12% Film Exhibition & Distribution
4.89% Waste Management & Utilities
2.54% Property Investment & Development
13.04% Chemicals, Livestock, Investments & Others*
*Others :Chemicals Trading & Manufacturing [3.66%], Livestock Farming [2.44%], Investment Income [0.38%] &
Others [6.56%]
7
Segmental Information FOR THE YEAR ENDED 31 DEC
2012
61.91% Grains Trading, Flour & Feed Milling
20.13% Film Exhibition & Distribution
TOTAL
SEGMENT
PROFITS
RM198 mil
11.28% Property Investment & Development
9.87%
Marketing, Distribution & Manufacturing
of Consumer Products
4.79%
Waste Management & Utilities
-7.98% Chemicals, Livestock, Investments & Others*
*Others :Chemicals Trading & Manufacturing [0.89%], Livestock Farming [-14.82%], Investment Income [6.83%] &
Others [-0.88%]
8
Review
Of
Major
Operations
9
Review of Major Operations
RM Million
2,000
FY 2011
FY 2012
13%
1,800
The increase in revenue for 2012
was due to higher feed sales volume
in Malaysia and increase in flour
sales volume in Vietnam and
Indonesia.
1,600
1,400
1,200
135
400
9%
200
122
1,848
600
1,636
1,000
800
GRAINS TRADING, FLOUR AND
FEED MILLING
Despite higher profits generated by
increased feed sales volume, PBT
was partly offset by unfavourable
grains trading results in 3Q2012.
Revenue
PBT
10
Review of Major Operations
FY 2011
RM Million
450
FY 2012
4%
400
MARKETING, DISTRIBUTION &
MANUFACTURING OF CONSUMER
PRODUCTS
Revenue and PBT for 2012
improved due to growth in sales
from new products from agencies.
350
300
1%
19
100
50
20
150
389
200
375
250
0
Revenue
PBT
11
Review of Major Operations
FY 2011
RM Million
350
FY 2012
FILM EXHIBITION AND
DISTRIBUTION
2%
Revenue for 2012 increased due
to contribution from the four
new cinemas and higher income
from screen advertising.
300
250
290
150
283
200
6%
50
40
37
100
PBT increased due to higher
profits from the cinema operations
and increase in screen advertising
income.
0
Revenue
PBT
12
Review of Major Operations
FY 2011
RM Million
180
FY 2012
1%
ENVIRONMENTAL ENGINEERING,
WASTE MANAGEMENT & UTILITIES
Revenue improved mainly due to
recognition of progressive revenue
generated by a new project.
160
140
120
3%
9.8
40
20
0
Revenue
PBT
9.5
60
155
80
154
100
PBT decreased mainly due to
completion of higher margin
environmental engineering projects
whereby the revenue and profits
were progressively recognised in
the previous quarters.
In 4Q2012, there was an additional
cost accrued for rectification work
13
on a completed project.
Review of Major Operations
FY 2011
RM Million
90
FY 2012
> 100%
80
Revenue and PBT increased due to
sales of high-end bungalows in
Bukit Segar, Kuala Lumpur and
semi-detached houses in Taman
Tanah Aman, Seberang Prai Tengah.
70
60
50
81
20
37
22
30
16
43%
40
PROPERTY INVESTMENT &
DEVELOPMENT
10
0
Revenue
PBT
14
Review of Major Operations
FY 2011
RM Million
8%
450
FY 2012
400
350
300
> -100%
12
100
50
0
-50
Revenue
PBT
-16
150
414
200
384
250
CHEMICALS, LIVESTOCK,
INVESTMENTS & OTHER
OPERATIONS
Revenue increased mainly due to
full year revenue contribution from
the bakery segment compared to 6
months in 2011 coupled with the
expansion of distribution coverage
for bakery products within
Peninsular Malaysia.
PBT for this segment was affected
by the losses from livestock and
lower income from investments in
15
equities.
5-Year
Financial
Performance
16
5-Year PBT of PPB Group
RM Million
1,800
1,600
1,400
1,200
917
1,057
1,129
600
1,732
800
1,401
1,000
400
200
2008
Note :
2009
2010
2011
2012
Year
PBT for FY2010 excludes the gain of RM841 million from the disposal of the sugarrelated assets. If the profit is included, the PBT would be RM1.970 billion.
17
Capital
Commitments
18
Capital Commitments by Segments
RM307 mil
Grains Trading, Flour & Feed Milling
CAPITAL
COMMITMENT
RM183 mil
Film Exhibition & Distribution
RM592 mil
RM57 mil
Bakery
RM45 mil
Others
19
Dividend
Record
20
Dividend Record
Dividend
Per Share
Gross Net
Year
2012
-Interim
-Final*
2011
2010 #
2009 #
2008 #
Net
Dividend
Paid/payable
Net
Dividend
Yield
Group
Company
(%)
(%)
(sen)
(sen)
(RM Million)
(%)
7
13
20
23
88
73
85
7
13
20
23
88
73
68.88
82.985
154.115
237.100
272.665
1,043.240
865.415
816.572
]
] 1.7
]
1.3
5.1
4.6
7.4
Payout Ratio
]
]
]
28.2
27.8
100.1
53.6
63.5
]
] 63
]
28.4
294.1
14.8
116.0
*
PPB Board has recommended a final single tier dividend of 13 sen per share for the financial year ended 31
December 2012 payable on 3 June 2013.
#
Including Special Dividends of 65 sen per share in year 2010; 50 sen per share in year 2009 and 62 sen per
share in year 2008.
21
Share
Performance
22
Share Performance
PPB Shares - Month End Closing Price (RM)
FBM KLCI
FBM KLCI (28.02.13) -> 1,637.63
17.00
1,750.00
1,700.00
16.00
1,650.00
15.00
1,600.00
14.00
1,550.00
13.00
12.00
11.00
Jan – Dec 2012
1,500.00
PPB
FBM KLCI
Closing Price (High)
RM17.72
1,688.95
Closing Price (Low)
RM11.18
1,504.22
Closing (31.12.12)
RM11.60
1,688.95
Average Daily Volume
465,683
135,017,773
1,450.00
PPB (28.02.13) -> RM12.38
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB
2012
2013
1,400.00
FBM KLCI
PPB Shares - Month End Closing Price (RM)
18.00
Prospects
for
2013
24
Prospects for 2013
Whilst the overall global economic uncertainty
continues to be a concern in the coming year, the
economies of the emerging markets including China
and India are expected to remain resilient, partly
supported by domestic consumption.
As the Group’s business divisions are predominantly
within the ASEAN region and China, it is anticipated
that PPB Group will perform well in year 2013.
Notwithstanding this, PPB Group’s overall financial
results for 2013 will continue to hinge largely on
Wilmar’s business performance for the coming year.
25
Questions
&
Answers
26