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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