financial report Dutch lady
Transcript of financial report Dutch lady
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GRADUATE SCHOOL OF MANAGEMENT
FINANCIAL MANAGEMENT AND POLICIES(FIN 6600)
Semester I, 2014/201
FINANCIAL RATIO ANALYSIS
ASSET MANAGEMENT RATIO
DUTCH LADY & NESTLE CORPORATION
!RE!ARED "#$
MOHAMED MOHAMUD ADEN G1325713
LI ZE YUAN G1314146
PATCHAREEYA SOHHENG G 1217086
FARAH YAZIT G1319716
!RE!ARED FOR$ RO!ASRUL IN DAHARI
T%&'e C*te*ts
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6. Nestle Asset management calculation
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INTRODUCTION
13 Cm%* "%-5r*+
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D%' L)( M# M))(+#) /)-%)'%,+ ) ;#, )-., * )#( *%'+ )- /),'+ ',/
%-, ', )- -)/,+ * D%' L)( )- F#+*!
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3 Oer%t.*s
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D%' L)( M))(+#) /)#-')#-+ )- #/*:,+ *,++,+ '*%. G** M)-%)'%#-.
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,-:#*-/,-'!
FINANCIAL RATIO ANAL#SIS
13 L.8.+.t R%t.s
1313 T9e Crre*t R%t.
Y,) 2008 2009 2010 2011 2012C%,-' )'#* 1!76 2 2!2 2!39 1!9
Figures and Graph of Current Ratio from 2008 2012
T, )*:, )'+ +*; D%' L)( %,-' )'#*+ * ', )+' #:, (,)+ +')'#-. */ (,)
2008 '* 2012? ', */)-( %,-' )'#* ) #-,)+, *-'#-%*%+( */ (,) 2008 '* 2011
;# +*;+ ')' D%' L)(+ )##'( '* )() #'+ +*'B',/ ,'+ )+ ,,- #-,)+#-. )-
.** ,*/)-,! T#+ #+ ,)%+, '#+ */)-( # -*' ):, *-. ',/ ,' **;#-. #- #'+
%,-' #)##'#,+? )+ +*;- #- ', */)-(+ ))-, +,,' * ', )+' #:, (,)+! #, ',
%,-' )'#* ) ,,)+, #- 2012 ,)%+, '*') %,-' #)##'#,+ #+ #., ')- *', (,)+ )-
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'#+ */)-( )+* )+ #. **;#-. */ '), )(), )+ /,-'#*-, #- ))-, +,,'! I-
)#'#*-? ) #. %,-' )'#* *% #-#)', ')' '** /% /*-,( #+ '#, % #- %,-' )++,'+? *
,@)/,? .#:#-. %+'*/,+ '** /% ,#'!
F*/ ', %,-' )'#* ;, )- *-%, ')' *:,) ,*/)-, * '#+ */)-( #+ #-
.** +#-, #$%##'( )'#*+ ), .,)', ')- 1! T,( )- $%#( )() ', ,'+ )- )+* '#+
*/)-( #+ )' .** #-)-#) ,)'! E:,- '*%.? ', )'#* ) *, #- (,) 2012 %' ',(
)- +'# )() * ', ,'+!
132 T9e :.- R%t.
Y,) 2008 2009 2010 2011 2012
J%# )'#* 1!17 1!41 2!21 1!7 1!37
Figures and Graph of Quick Ratio from 2008 2012
T, $%# )'#* *,+ )-*', ;)( '* ,',/#-, ', ),$%)( * ;*#-. )#')! I' #+ )+*
,',/#-, *; */)-(+ #-)-#) +',-.' )- ;,)-,++ )+ ;, +,, */ +*' ',/ #$%##'(!
)+, *- ', )*:, )')? #' +*;+ ')' D%' L)( $%# )'#* #+ /*, ')- ', ):,)., $%#
)'#* * 1? )#'#*-)( '#+ )- #,-'#( ')' D%' L)( #+ $%#( '* *-:,' #'+ )++,'+ #-'* )+
#- +*' ',/ ,#*!
O-, * ', /)* ,)+*-+ ')' , '* #-,)+, * D%' L)( $%# )'#* #+ ')' #- ',
*/)-(+ ))-, +,,'? #' +*;+ ')' )' ', #+' ',, (,)+? ',( # -*' **; /%!
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E+,#)(? ',( # -*' **; #- (,) 2010 ;# /,)- ')' ', $%# )'#* #+ #., ')- *',
(,)+! A+* ', )/*%-' * #-:,-'*#,+ ;)+ #-,)+#-. #- 2011 )- ,,)+#-. ).)#- #- (,) 2012
I- *-%+#*-? */ ', )*:, .) +*;- ')' D%' L)( #+ ), '* .,' #. *#' ,:,-%,?
#' )- , +,,- ')' $%# )'#* #+ /*, ')- 1! A+* '#+ */)-( #+ )+' )' *-:,' #'+ #-:,-'*#,+
#-'* )+!
23 Asset Management Ratios231 T9e A;er%5e C''e-t.* !er.+ (AC!)
T, A:,)., C*,'#*- P,#*,,+,-'+ ', ):,)., -%/, * )(+ ', #/ '),+ '*
*,' #'+ ,,#:),+! T)' #+ *; *-. #' '),+ '* .,' )# *- ,#' +),+!
Y,) 2008 2009 2010 2011 2012
A:,)., C*,'#*- P,#* 60!50 36!42 50!48 54!10 59!80
Figures and Graph of Average Collection eriod from 2008 2012
T, .) +*;+ ', -%/, * *,'#*- ,#* */ 2008B2012!A+ )- , +,,- */
', .)? ',, ;)+ ', #.,+' -%/, #- ', (,) 2008 ;# ;)+ 60!5 )(+ !T#+ #+ ,)%+, *
,*-*/# #+#+ +')'#-. ', /#, * 2007 )- ',- *-'#-%, #-'* 2008 ')' ),', ',
*/)-(! D%' L)( ) *,/ #- *,'#-. ',# ,#' )+ 50K * #'+ %+#-,++! T,-? ',
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):,)., *,'#*- ,#* *-'#-%, '* ) .** -%/, #- ', (,) 2009? '#+ ;)+ ', /*+' ,,'#:,
;#' 36!42 )(+! O- ', *', )-? ',, ;,, #-,)+, +#.-##)-'( #- ', -%/, *
*,'#*- ,#* #- ', (,) 2010? 2011 )- 2012? ;# ;,, 50!48? 54!10 )- 59!8
,+,'#:,(! F* *:,) )', )- *,'#*- ,#* #- *,'#-. ',# ,'+? #' #+ -*' ')' )? %'
D%' L)( /%+' #/*:, #'+ ,#' *##,+ '* /), #' /*, ,##,-' )- '* ,-+%, ')' ',( ),
-*' .*#-. '* *+, /% /*-,( '* ) ,'+!
2!2 T9e I*;e*tr Tr*;er
I-:,-'*( '%-*:, )'#* #-#)',+ *; /)-( '#/,+ %#-. ', (,) ', */)-( #+ ), '* +,
) $%)-'#'( * .**+ ,$%) '* #'+ ):,)., #-:,-'*(! O-, '#-. ')' +*% , ,) #- /#- #+ ')'?
', #-:,-'*( '%-*:, )', #-#)',+ *; $%#( #-:,-'*( +,+? %' -*' *; $%#( '#+ )++,'
*-:,'+ #-'* )+!
Y,) 2008 2009 2010 2011 2012
I-:,-'*( T%-*:, 7!03 8!04 6!16 5!42 6!17
Figures and Graph of !nventor" #urnover from 2008 2012
F*/ ', .)? ;, )- +,, ')' ', #-:,-'*( +')' ;#' 7!03 #- ', (,) 2008!T,-? #' ;)+
,#-. )' ', #.,+' #- 2009 ;#' 8!04 )- *-'#-%, '* ,,)+, #- ', (,) 2010 )- 2011! I' )-
, +,,- ')' ', -%/, * I-:,-'*( '%-*:, #-,)+, +#.'( #- ', (,) 2012 ;# ;)+
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6!17! F* *:,) #-:,-'*( '%-*:, )',? D%' L)( *,+ -*' )#,:, ', #,) '%-*:, )', (,'
,)%+, ', -%/, #+ %'%)',! H*;,:,? #' ,,-+ *- ', */)-( ;,', #' #,+ '*
*%, #- )., *'#*- * %+' ,-*( *; /).#- * *%'#*-! I' #+ .** '* ):, #. #-:,-'*(
'%-*:, )', )+ #' .,-,)',+ /*, ,:,-%,+ )- ,%, ', *+' * /)#-')#-#-. ', #-:,-'*#,+! T*
#/*:, #-:,-'*( '%-*:,? *-+#, ,%#-. ', $%)-'#'( #' -*/)( %( */ ', +%#,!
237 F.e+ Asset Tr*;er
F#@, )++,' '%-*:, +*;+ ', ,)'#*-+# ,';,,- )++,'+ )- +),+! T, #@, )++,'
'%-*:, )'#* /,)+%,+ ) */)-(+ )##'( '* .,-,)', -,' +),+ */ #@, )++,' #-:,+'/,-'+
)- +,##)( *,'(? )-' )- ,$%#/,-' )- -,' * ,,#)'#*-! A #., #@,
)++,' '%-*:, )'#* +*;+ ')' ', */)-( )+ ,,- /*, ,,'#:, #- %+#-. ', #-:,+'/,-' #-
#@, )++,'+ '* .,-,)', ,:,-%,+! T, )'#*+ ), *-.B',/ /,)+%,+ * ,*/)-,? ;# #+ *
#/)( #-',,+' '* ,$%#'( #-:,+'*+ )- +'* /),' )-)(+'+!
Y,) 2008 2009 2010 2011 2012
F#@, A++,' T%-*:, 10!63 7!93 9!70 10!95 11!88
Figures and Graph of Fi$ed Asset #urnover from 2008 2012
T#+ .) #-#)',+ ')' ', #@, )++,' '%-*:, +')' )' 10!63 #- ', (,) 2008 )- ',- #'
*, +#.-##)-'( '* 7!93 #- ', (,) 2009 ,)%+, * #@, )++,' ;)+ :,( #. RM 78?621
*/), '* *', (,)+! I' )- , ,)( +,,- ')' ', -%/, * #@, )++,' '%-*:, #-,)+,
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*-'#-%)( */ 2009 '* 2012? ;# */ 7!93 '* 10!95 '#+ #+ ', #.,+' -%/, * ', (,)!
F* *:,) #@, )++,' '%-*:,? '#+ */)-( #+ $%#', ) .** -%/, ,)%+, ', -%/, *
#@, )++,' '%-*:, #-,)+, *-'#-%)( ')' /,)-+? D%' L)( )+ ,,- /*, ,,'#:, #-
%+#-. ', #-:,+'/,-' #- #@, )++,'+ '* .,-,)', ,:,-%,+!
234 Tt%' Asset Tr*;er
T, '*') )++,' '%-*:, )'#* /,)+%,+ ', )##'( * ) */)-( '* %+, #'+ )++,'+ '* .,-,)',
+),+! T, '*') )++,' '%-*:, )'#* *-+#,+ ) )++,'+ #-%#-. #@, )++,'+? #, )-' )-
,$%#/,-'? )+ ;, )+ #-:,-'*( )- )*%-'+ ,,#:),+!
Y,) 2008 2009 2010 2011 2012
T*') A++,' T%-*:, 2!45 2!46 2!31 3!13 2!30
Figures and Graph of #otal Asset #urnover from 2008 2012
R,,#-. '* ', .)? '*') )++,' '%-*:, #+ ', #.,+' #- 2011 ;# ;)+ 3!13? ;#, ',
,+' ;,, )*%- 2!5! I' )- , +,,- ')' ',, ;,, ,/)#- +'), ,';,,- 2008 )- 2009? ',- #'
+#.'( ,,)+, #- ', (,) 2010! , )- +,, ')' ', '*') )++,' '%-*:, #- ', (,) 2011 )-
2013 ;,, ', +)/, -%/, ;# #+ 2!3! T, *:,) * '*') )++,' '%-*:, #- '#+ */)-( #+
-*' )? %' ',( ):, '* #/*:, ', +),+ ( #-,)+#-. ', %'##)'#*- * )++,'+ * #+*+,
+*/, * ', %-%+, )++,'+!
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73 De&t M%*%5eme*t R%t.s
D,' /)-).,/,-' )'#*+ )'',/' '* /,)+%, ', #/+ %+, * ,'+ )-
)##'( '* ):*# #-)-#) #+',++ #- ', *-. %-! T,+, )'#*+ ), )+* -*;- )+ *-.B',/
+*:,-( )'#*+! T,+, )'#*+ ), *-+#,, )+ ) /,)+%, * ', ,@',-' '* ;# ) #/ %+,+
**;, %-+ '* #-)-, #'+ *,)'#*-+! O;-,+ )- ,#'*+ ), #-',,+', #- ,'
/)-).,/,-' )'#*+ ,)%+, ', )'#*+ #-#)', ', #+#-,++ * ', #/+ *+#'#*-! #' ', %+, *
,' )+* */,+ ', *++###'( * #-)-#) #+',++ )- )-%'(!
731 T9e De&t R%t.
D, )'#* #+ ,',/#-, *; /% ', */)-( #- ,'+ )- )+* *; .** */)-( #-
/)-).#-. #'+ ,'+! I' )- #,-'#( *; /% */)-(+ )++,' )- #-)-, ', ,' ;# )- +,,
*/ ', ))-, +,,' * D%' L)( C*/)-(! T#+ )- , )%)', */ '*') #)##'#,+
#:#, ( '*') )++,'+! I- )#'#*-? #' /,)+%,+ ', ,:, * #+#-,++ * ', */)-(!
Y,) 2008 2009 2010 2011 2012
D,' R)'#* 0!44 0!34 0!36 0!54 0!44
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Figures and Graph of %e&t Ratio from 2008 2012
T, ,' )'#* * D%' L)( )+ %'%)', */ 2008 '*%. 2012! I- 2011 ', */)-(
;)+ ,,-#-. *- *)-+ * #-)-#-. ',# )++,'+! T, .) +*;- ')' ', ,' )'#* )
%'%)'#-. #- ,:,( (,)! I- 2011 #' #+ */))'#:,( #.! T#+ )'#* #+ )+* *-+#,, *-, * ',
/*+' #/*')-' #-#)'*+ * ', ,##,-( * ', */)-(! T, )'#* ;)+ -*' :,( #. #- ,)
(,) ,)%+, '#+ */)-( )- /)-)., ',# ,' ;, #- ,:,( (,)!
I- +%/ %? *:,) ,*/)-, * ,' )'#* #+ )' .** #-)-#) ,)' +#-, ',# )++,'+ ),
.,)', ')- #)##'#,+ ,+,#)(? #- (,) 2010 ', */)-( # -*' /), )-( **;#-. */
*',+!
732 De&t t E8.t R%t.
T#+ )'#* #+ ) /,)+%, * ', /#@ * ,' )- ,$%#'( ;#'#- ', #/+ '*') )#')! I' #+ )-
#/*')-' /,)+%, * #+? ,)%+, ) #. ,:, * ,' )- %,- ', #-*/, +')',/,-' ;#'
,@,++#:, #-',,+'! T#+ /),+ ', #/+ *#')##'( ).#, #- ,,++#*-)( '#/,+! T#+ )'#* #+
%-%+%) #- ')' #' #+ *//*-( +')', )+ ) **'#*- )', ')- )+ ) ,#/) * ) ,,-').,!
Y,) 2008 2009 2010 2011 2012
D,' T* E$%#'( R)'#* 0!80 0!56 0!56 0!54 0!77
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Figures and Graph of %e&t to '(uit" from 2008 2012
T, .) )*:, ,@)#-, ', ,' '* ,$%#'( )'#* * D%' L)( M# I-%+'#,+
,)! L*;, )'#* ;)+ #-#)', ,++ #- #+! O- ', *', )-? #. )'#* ', #/ /*,
,,-+ *- ,@',-) ,-,+! S#-, '#+ */)-(+ )'#* #+ ,++ ')- 1 #- ,:,( (,)! I' /,)-' ')'
'#+ %+#-,++ # -*' ):, /)-( ,'+! T, )'#* ,,)+, */ 2008 )- ,/)#-, %-'# 2011
)- #-,)+, ).)#- #- 2012? +*;- ')' ', ,,-')., * )++,'+ * ', %+#-,++ ;# ),
#-)-, ( ', ,'+ #+ #-,)+#-.!
737 T.mes I*terest E%r* (TIE)
I-',,+' '#/, ,)-, )'#* /,)+%,+ *; ,)+#( */)-( )- )( #-',,+' ,@,-+, *-
*%'+')-#-. ,'! I' )%)', */ */)-(+ ,)-#-.+ ,*, #-',,+' )- ')@,+ )-
#:#, ( ', '*') #-',,+' ,@,-+,! I' #+ %+%)( $%*', )+ ) )'#* )- #-#)',+ *; /)-( '#/,+
) */)-( )- *:, #'+ #-',,+' ).,+ )- )##-. '* /,,' ',+, *#.)'#*-+ *% *, )
*/)-( #-'* )-%'(!
Y,) 2008 2009 2010 2011 2012
T#/, I-',,+' E)-, 196!46 82031 0 151!65 56!82
Figures and Graph of #ime !nterest 'arned from 2008 2012
A+ +')', #- ', ))-, +,,'? '#+ */)-( # -*' /% *- /)#-. **;#-. */ *',+!
E+,#)(? #- (,) 2010 )+ #' +*;- */ ', '), )*:, ', )'#* )--*' ,',/#-, %, '*
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#-)-#) *+' * #-',,+' ,@,-+, ;)+ ,* )/*%-'+ ;# /,)-' ')' ',( # -*' /), )-(
**;#-. #- (,) 2010! T#+ (,) ', */)-( # -*' )+ #-)-#) #)##'#,+ ;)+ -*' ,@*+,
'* ) #+ * )-., #- )+ *; %, '* -* +*' ',/ **;#-.!
734 F.*%*-.%' Le;er%5e I*+e
T, F#-)-#) L,:,)., I-,@ /,)+%,+ *; ;, ) */)-( #+ %+#-. #'+ ,'! T, F#-)-#)
L,:,)., I-,@ */),+ ';* *', #-)-#) ,*/)-, )'#*+ ;# ), ,'%- *- ,$%#'(
)- ) /*##, :,+#*- * ,'%- *- '*') )++,'+! T, ,'%- *- '*') )++,'+ #+ /)#-(
)#-. #- ', ,,'+ * #-',,+' ,@,-+, )- ', ')@ )',!
Y,) 2008 2009 2010 2011 2012
F#-)-#) L,:,)., I-,@ 1!79 1!56 1!55 1!52 1!74
Figures and Graph of Financial )everage !nde$ from 2008 2012
)+, *- *% #.%,+ )- .)? #' )- , +,,- ')' ', D%' L)(+ #-)-#) ,:,).,#-,@ ;)+ ,,)+, #- 2008? 2009? 2010? )- 2011! H*;,:,? ', */)-( )+ ,*/, ,'',
#- 2012! T, #-)-#) ,:,)., #-,@ ,+%'+ ), .,)', ')- 1! T#+ /,)-+ ')' ', */)-( #+
%+#-. #'+ ,' #- ) *+#'#:, ;)( * )-*', ;)( * +)(#-. '#+ #+ #'+ ,'%- *- ,$%#'( #+ )., ')-
#'+ ,'%- *- )++,'+! T#+ )'#* ;# , ), '* ', #-:,+'*+ ')' )+ **;#-. #-,)+,+ * )
*/)-(? ;,', * -*' ', ,' ', */)-( +*%,, ;)+ *:,) ,-,##) * ,'#/,-')!
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F* D%' L)(? ',( ), ), '* %+, #'+ ,' ,##,-'( * %'##, #' #- ', ,+' ;)( ')' #-.+
*#' '* ', */)-(!
73 "%*rt- R.s (
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43 !r.t%&.'.t R%t.s
431 Retr* * S%'es (ROS)
R,'%- *- +),+ #+ ) )'#* ;#,( %+, '* ,:)%)', )- ,-'#'(+ *,)'#-. ,*/)-,! I' #+ )+*
-*;- )+ *#' /).#- * -,' *#' /).#-! I' /,)+%,+ *; /% * ,:,-%, ,+%'+ #- *#'
* ', */)-( )', ')- .*#-. '*;) )(#-. ', */)-(+ *+'+! A #., )'#* /,)-+ ')'
', */)-( ,,+ /*, /*-,( #- *#'! T(#)(? ', )'#* #+ /,)+%, )+ ) ,,-').,? ;#
+*;+ *; /)-( ,-'+ , *) ', */)-( ,,+ )+ *#'!
Y,) 2008 2009 2010 2011 2012
R,'%- *- S),+ 5!99K 8!73K 8!99K 13!33K 13!98K
Figures and Graph of Return on ,ales from 2008 2012
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, )- +,, ')' D%' L)(+ ,'%- *- +),+ * 5!99K? 8!73K? 8!99K? 13!33K? )-
13!98K #- 2008? 2009? 2010? 2011? )- 2012 ,+,'#:,(! I' /,)-+ ')' ', */)-(
.,-,)', 5!99 ,-'+? 8!73,-'+? 8!99 ,-'+? 13!33 ,-'+? )- 13!98 ,-'+ * *#' , *) *
+),+ #- 2008? 2009? 2010? 2011? )- 2012 ,+,'#:,(! T, */)-( )+ ,*/, :,( ;,!
T, #.%,+ )- .) +*;+ ')' ,'%- *- +),+ * D%' L)( M# I-%+'#,+ )+ #-,)+,
*-'#-%*%+( */ (,) '* (,) )- ;# *-'#-%, '* #-,)+, #- ', %'%,! T#+ #-,)+#-. #-
ROS #-#)',+ ', */)-( #+ ,*/#-. /*, ,##,-'!
432 Retr* * Assets (ROA)
R,'%- *- )++,'+ #+ )- #-#)'* * *; *#'), ) */)-( #+ ,)'#:, '* #'+ '*') )++,'+! I'
.#:,+ )- #,) )+ '* *; ,##,-' /)-).,/,-' * ', %+#-,++ #+ )' %+#-. #'+ )++,'+ '* .,-,)',
,)-#-.+! T, #., ', ,'%-? ', /*, ,##,-' /)-).,/,-' #+ #- %'###-. #'+ )++,' )+, *
')' %+#-,++ #+ /*, *#'),! T#+ )'#* +*% , *-( %+, '* */), */)-#,+ #- ',
+)/, #-%+'(!
Y,) 2008 2009 2010 2011 2012
R,'%- *- A++,'+ 14!65K 21!49K 20!78K 27!12K 32!23K
Figures and Graph of Return on Assets from 2008 2012
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F*/ ', #.%, )- ', .) +*;+ ')' '#+ */)-( #+ ,,'#:,( #- *-:,'#-. #'+
'*') )++,'+ #' )+ '* #-:,+' #-'* -,' #-*/,! T, .) #+ %;) +*#-. ;# #+ ) .**
,#'#*- * *#')##'( * ', */)-( #- ', %'%,! E:,- '*%. ',, ;)+ ) +#.'(
,,)+, #- ROS * 0!71K #- 2010 %' ', */)-( )- ,*:, #- 2 (,)+ )',! T, #-,)+#-.
',- * ROA * D%' L)( #-#)',+ ')' ', *#')##'( * ', */)-( #+ #/*:#-.!
437 Retr* * E8.t (ROE)
R,'%- *- ,$%#'( #+*-, * ', /*+' %-)/,-') *#')##'( )'#*+! R,'%- *- ,$%#'( *
,'%- *- )#') #+ ', )'#* * -,' #-*/, * ) %+#-,++ %#-. ) (,) '* #'+ +'**,+ ,$%#'(
%#-. ')' (,)! I' #+ ) /,)+%, * *#')##'( * +'**,+ #-:,+'/,-'+! I' +*;+ -,'#-*/, )+ ,,-')., * +),*, ,$%#'(!
Y,) 2008 2009 2010 2011 2012
R,'%- *- E$%#'( 26!39K 33!56K 32!35K 41!70K 57!08K
Figures and Graph of Return on '(uit" from 2008 2012
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F*/ ', #.%, )- ', .)? ;, )- +,, ')' ', ROE #-,)+, ( 7!17K %, '* )#+#-.
*/ -,' #-*/, #- 2009! A+*? ', ROE #- 2010 ;)+ 32!35K! I' /,)-+ ')' ,:,( *) *
+),*,+ ,$%#'(? ', +),*, ;# ,)- RM32!35! S* #' #+ .** * ', +),*,+
,)%+, ', */)-( ;)+ ,##,-' #- .,-,)'#-. #-*/, *- -,; #-:,+'/,-'! H*;,:,? ', ROE
#- 2010 ;)+ +#.'( *;, ')- ', ROE #- 2009 %' ',- ', ROE ,' #-,)+#-. #- )', (,)+?
2011 )- 2012! T#+ #+ ,)%+, * ', #-,)+#-. #- -,' #-*/, * *' (,)+! T,,*,? ;, )-
+)( ')' ', */)-( ;)+ ,##,-' #- .,-,)'#-. #-*/, *- -,; #-:,+'/,-'! I' #+ +%..,+', ')'
#-:,+'*+ +*% */), ', ROE * #,,-' */)-#,+ )- )+* , ', ',- #- ROE *:,
'#/, )- ,(#-. +*,( *- ROE * #-:,+'/,-' ,#+#*-+ #+ -*' +),!
434 D !*t E8%t.*s
Y,) 2008 2009 2010 2011 2012
D% P*-' E$%)'#*-+26!37K 33!52K 32!20K 41!49K 57!04K
Figures and Graph of %u ont '(uations from 2008 2012
T, ,@',-, D% P*-' E$%)'#*- +)(+ +*/,'#-. :,( #/*')-' )*%' %--#-. ) %+#-,++!
T, *,)'#*- * ', %+#-,++ #'+, #+ ,,', #- ROA! T#+ /,)-+ /)-).#-. %+'*/,+?
,*,? *+'+? ,@,-+,+? )- ,$%#/,-'! F* ,@)/, #- 2012? D%' L)( )+ '*') )++,'+ * RM
382?774 )- ,$%#'( * RM 216?134 ',- ', ,$%#'( /%'##, #+ 1!77! T, ,@',-, D% P*-'
,$%)'#*- +)(+ ')' ', #/+ ROE ;# , 1!77 '#/,+ #'+ ROA ,)%+, ', %+, * *', ,*,+
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/*-,(! D%' L)( #+ /)#-. ) *#' )- ROA #+ ) *+#'#:, -%/,! T#+ (,) ROA #+ 32!23K?
ROE ;*% , ) ,)'( 57!04K! , )- +,, ')' */ 2008B2012? '#/,+ * ', ,$%#'( /%'##,
.,' ;,! I' /,)-+ ')' ', */)-( #- %+#-. *', ,*,+ /*-,( #+ .,-,)( .**!
434 I*ter*%' Gr>t9 R%te
Y,) 2008 2009 2010 2011 2012
I-',-) G*;' R)', 0!13 0!07 0!18 0!31 0!1
I-',-) .*;' )', +*;+ ', .,-,) %+#-,++ *,)'#*-+ )- *-'#-%, '* %- )- .*;'
', */)-(! T#+ #-',-) .*;' )', ,',/#-,+ ', /)@#/%/ ', #/ )- .*;' ;#'*%'
**;#-. */ )-+ * +),*,+! F*/ ', '), )*:,? ', #-',-) .*;' )', )
,,)+, )' ', (,) 2009 )- 2012 )- )+* +#.-##)-'( #-,)+, #- 2011 %, '* #'+ ,')#-
,)-#-.+ )- #:#,- )/*%-'+ ), #., ')- *', (,)+! A+ ) ,+%'? '#+ %+#-,++ )- .*;'
)- .,-,)', ',# *#' ;#'*%' ,)'#-. ', ,'+!
3 M%ret %'e R%t.s5.1E%r*.*5s er S9%re (E!S)
E)-#-.+ , +), * ) %+#-,++ ), ', *'#*- * #'+ -,' #-*/, * ) ,#* ')' )-
, )''#%', '* ,) +), * #'+ *//*- +'*! I' +,:,+ )+ )- #-#)'* * ) */)-(+
*#')##'(!
Y,) 2008 2009 2010 2011 2012
E)-#-.+ , S), 0!67 0!94 0!99 1!69 1!93
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Figures and Graph of 'arnings per ,hare from 2008 2012
T, -,' #-*/, * D%' L)( )+ #-,)+, */ 2008 '*%. 2012 )- #'+ -%/, *
+),+ * *//*- +'* *%'+')-#-. ;)+ ', +)/, #- ', +,## (,)+ ;# ;)+ RM
64?000?000! )+, *- ', )%)'#*-+? ', ,)-#-.+ ):)#), '* +),*,+ ):, #-,)+,
,:,( (,)! T,,*,? ;, ,*//,- ')' ', #-:,+'*+ +*% #-:,+' #- '#+ */)-( )+ ',
,)-#-.+ *-'#-%, '* #+, #- ', %'%,!
5.2D.;.+e*+ er S9%re (D!S)
D#:#,- , +), +*;+ *; /% ', +),*,+ ;,, )'%)( )# ( ;)( *
#:#,-+! I' #+ ', '*') #:#,- )( *:, ) (,) #:#, ( ', -%/, * +),+ #++%,!
Y,) 2008 2009 2010 2011 2012
D#:#,- , S), 0!13 0!66 0!73 0!73 2!6
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Figures and Graph of %ividend per ,hare from 2008 2012
D%' L)( )+ #-,)+, ', -%/, * #:#,-+ )# '* +),*,+ ,:,( (,) )- ',
-%/, * +),+ #++%, ,/)#-, ', +)/, */ 2008 '* 2012! A+ ) ,+%'? ', #:#,- ,
+), * ', */)-( *-'#-%,+ '* /*:, %;) )*#-. '* ', .)? )'#%)( #- 2012!
T,, ;)+ ) %., #-,)+, * #:#,-+ )# #- '#+ (,) */ 0!73 '* 2!6!
D#:#,-+ ), ) +#.- * #-:,+'*+! I #:#,- , +), #+ *, *;- ')- #-:,+'*+
,#' #' /,)-+ ')' */)-( #+ -*' #- .** *-#'#*-! O- ', *', )-? # ) #:#,- , +),
#+ .*#-. % ',- #-:,+'*+ ,, ')' #' ,*/+ ;,! , ,*//,- ', #-:,+'*+ '* #-:,+' #-
D%' L)( +#-, #' )+ ,*/, ;, )+ #:#,- , +), *-'#-%, '* #-,)+,!
37 D.;.+e*+ #.e'+ (D#)
D#:#,- (#, #+ ', )/*%-' ')' ) */)-( )(+ '* #'+ +),*,+ )--%)( * ',#
#-:,+'/,-'+! I' #+ ,@,++, )+ ) ,,-')., )- #-#)',+ )'')'#:,-,++ * #-:,+'#-. #- )
*/)-(+ +'*+! D#:#,- (#, #+ *-+#,, )+ ROI * #-*/, #-:,+'*+ ;* ), -*'#-',,+', #- )#') .)#-+ * *-.B',/ ,)-#-.+! I' #+ )%)', )+ )--%) #:#,- , +),
#:#, ( %,-' /),' #, , +),!
Y,) 2008 2009 2010 2011 2012
D#:#,- Y#, 0!28K 1!41K 1!56K 1!56K 5!54K
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Figures and Graph of %ividend -ield from 2008 2012
F*/ *% )-)(+#+ *- #:#,- (#,? ;, %+, ', %,-' /),' #, )+, *- ',
S')#? M)( 8? 2013! I' )- , +,,- ')' #:#,- (#, ;)+ #-,)+#-. */ (,) ( (,)
,+,#)( #- 2012 ;# ;)+ #-,)+, ( 3!85K! T* ,)*)',? # ', #-:,+'*+ #-:,+' #- D%'
L)( ',( ;# .,' 5!54K ,)-#-. * ,) *) #-:,+', #- ) */)-( * ', (,) 2012! A+ )-
#-:,+'*? ;, )- *-+#, ',# )+' #:#,- (#, )'#*+ '* ,#, ;,', '* #-:,+' #- ',
*/)-( * -*'! T#+ )- , *-%, ')' D%' L)( #+ .** * #-:,+'*+ '* #-:,+'!
34 !r.-e/E%r*.*5s R%t.
T, PE )'#* **+ )' ', ,)'#*-+# ,';,,- ', +'* #, )- ', */)-(+ ,)-#-.+! I'
.#:,+ )- #,) * *; /% #-:,+'*+ ), ;##-. '* )( * ) *) * ', #/+ ,)-#-.+! T,
PE )'#* #+ :,( #/*')-' #- ', +'* /),' )-)(+#+!
Y,) 2008 2009 2010 2011 2012
P#,E)-#-.+ R)'#* 70 49!37 47!37 27!73 24!30
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Figures and Graph of rice.'arnings Ratio from 2008 2012
F*/ *% )-)(+#+? #' )- , +,,- ')' PE R)'#* ;)+ ,,)+, */ (,) ( (,) %' #' *,+
-*' /)'', ,)%+, #' ',+ %+ *; /% #-:,+'*+ ), ;##-. '* )( * ) *) * ', #/+
,)-#-.+! F* ,@)/,? ', */)-(+ PE #+ 24!30 )- ,)-#-.+ , +), ), 1!93 #- 2012? ',
+'* +,#-. * 46!90! T,+, +'* /),' ,*, ;*% +)( ')' ', */)-( #+ +,#-. *
24!30 '#/,+ ,)-#-.+!
I- .,-,)? ) #. PE +%..,+'+ ')' #-:,+'*+ ), ,@,'#-. #., ,)-#-.+ .*;' #- ',%'%, */), '* */)-#,+ ;#' ) *;, PE! H*;,:,? ', PE )'#* *,+ -*' ', %+ ',
;*, +'*( ( #'+,! I' #+ %+%)( /*, %+,% '* */), ', PE )'#*+ * *-, */)-( '* *',
*/)-#,+ #- ', +)/, #-%+'(? '* ', /),' #- .,-,) * ).)#-+' ', */)-(+ *;- #+'*#)
PE )'#*!
3 M%ret t " %'e R%t.
M),' '* ** )%, R)'#* /,)+%,+ *; /% ) */)-( ;*'+ )' ,+,-'? #-
*/)#+*- ;#' ', )/*%-' * )#') #-:,+', ( %,-' )- )+' +),*,+ #-'* #'! I' #+ )-
#-#)'#*- * *; /% +),*,+ ), )(#-. * ', -,' )++,'+ * ) */)-(!
Y,) 2008 2009 2010 2011 2012
M),' '* ** )%, R)'#* 18!61 16!69 15!22 11!60 13!91
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Figures and Graph of /arket to ook alue Ratio from 2008 2012
M),' '* ** :)%, )'#* *:#,+ #-:,+'*+ ) ;)( '* */), ', /),' :)%, * ;)'
',( ), )(#-. * ,) +),? '* ) *-+,:)'#:, /,)+%, * ', :)%, * ', #/! F* ,@)/, #-
2012? ', *) )/*%-' #- ', -%/,)'*? 46!90? #+ ', *+#-. +'* #, * D%' L)( M#
I-%+'#,+ ,) )+ * M)(? 2013? )+ ,*', #- ', S')#! I- ', ,/*/#-)'*? ', **
:)%, , +), #+ )%)', ( #:##-. ', +),*,+ ,$%#'( ( ', -%/, * *//*-
+),+ *%'+')-#-. '* *')#- ', 3!37 ** :)%, , +),! ( +#/( #:##-.? #' .#:,+ %+ ',
/),' '* ** :)%, )'#* #-#)'#-. ')'? )+ * D%' L)( M# I-%+'#,+ ,)2012 #+)
(,),-? #'+ +'* ;)+ ')#-. )' 13!91B'#/,+ ', */)-(+ ** :)%, * 3!37 , +),!T,
/),' '* ** :)%, )'#* #+ ;#,( %+, )+ ) :)%)'#*- /,'#! I' #+ *)( /*, ,,:)-' *
%+, ( #-:,+'*+ **#-. )' )#') #-',-+#:, * #-)-, ,)', %+#-,++,+? +% )+ )-+! I-
',/+ * .,-,) %+).,? #' ),)+ ')' ', PE )'#* #+ #/( ,-',-, )+ ', :)%)'#*- *
*#, ( ', #-:,+'/,-' *//%-#'(!
63 ?r.*5 C%.t%' M%*%5eme*t631 C%s9 C*;ers.* C-'e (CCC)
Y,) 2008 2009 2010 2011 2012
C)+ C*-:,+#*- C(, 29!95 11!9 B19!28 8!95 B3!31
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Figures and Graph of Cash Conversion C"cle from 2008 2012
C)+ *-:,+#*- (, ,@)#-+ *,++#-. ;,, ', */)-( %)+,+ #-:,-'*( )- +,
#-:,-'*( *- ,#'? ',- *,' ,,#:), #-'* )+! I- )'? ', +*', ,#* *- )+
*-:,+#*- (, #+ ,'',! A+ +*;- )' ', '), )*:,? CCC ;)+ ,,)+, +#.-##)-'( */
(,) 2008 '* 2010 ,)%+, D%' L)( # -*' *;, /% ,'+ )- **;#-.+! I- (,) 2010?
', CCC ;)+ ) -,.)'#:, )/*%-' ,)%+, D%' L)( *%.' /*-,( */ )*%-' ,,#:),
#+' ',- ',( # -*' ,$%#, * **; /*-,( */ ', )- '* #-)-, ',# %+#-,++!
632 ?r.*5 C%.t%' F.*%*-.*5
*#-. )#') #-)-#-. ;)+ ,',/#-, *; /% ', */)-( )+ '* **; */
', )- #- *, '* *:, ',# #-:,+'/,-' *,)'#*- )(/,-'! A+ ;, )- +,, */ ', .)
)*:,? CCC *-'#-%, '* ,,)+, */ (,) '* (,)! A+* ;*#-. )#') #-)-#-. )/*%-' )+
,,)+, #- ,:,( (,) */ RM 107?505!91 '* RM 20?153!59 ;# /,)-' ')' ',( # -*'
):, /% ,'? ',( )- *-'* ',# %+#-,++ )- .,' /*-,( '* )( ',# %+#-,++ *,)'#*-+!
TREND ANAL#SIS NESTLE
Re-e.;%&'e tr*;er
26
Y,) 2008 2009 2010 2011 2012
*#-. C)#') F#-)-#-. 107?505!91 22?869!39 B 20?153!59 B
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', #@, )++,' '%-*:, )'#* ):,+ ,%, */4!35 '* 4!48! T#+ /)( ),- ,)%+, ',
*/)-( ,@,', #., %'%, +),+ )+ #' ;)-'+ '* ,*/, ', #..,+' */)-( * ** /),'
#- ', ;*!
T, ):,)., #@, )++,' '%-*:, )'#* * ** #-%+'( ;)+ 4!6?)' ,?31 2012!,+#', ',
,%'#*- * #@, )++,' '%-*:, )'#* ;# ;)+ *%, %#-. ', (,)+ 2008!-,+', )'#* ;)+
#., ')- ', */,'#'*+ D%' )(? )- )+* -,+', #+ )*:, ', ):,)., #-%+'(!
Tt%' %sset tr*;er r%t.
CONCLUSION
D%' L)( M# I-%+'#,+ ,) #+ +'# #- #'+ .*;' )+,! L**#-. )' ', %+#-,++
(,? #' *% , +)# ')' *:, */#-. (,)+ ', **)'#*- *% ;* /*, )--,+ *
.,-,)'#-. ,:,-%,! T, '*') ,:,-%, #-,)+, *:, ', (,) */ 2008 '* 2012!
( **#-. )' :)#*%+ #-)-#) )'#*+ )-)(+#+ #+ ,:#,-' ')' ', #/ #+ ,##,-' #-
.,-,)'#-. #$%##'( )- ,##,-( #- *,)'#*-+! T, #/ )+ )##'( '* *:, #'+ +*' ',/
*#.)'#*-+ #- 5 (,)+ ;# /,)-+ ')' ',( ;,, ), '* *:, ) ', ,'+! M*,*:,? D%'
L)( #+ $%#( #- *-:,'#-. #'+ %,-' )++,'+ +% )+ #-:,-'*#,+ #-'* )+!
D,' /)-).,/,-' )'#*+ ,',/#-, *; ', #/ )- %+, *', ,*,+ /*-,( '* #'+
*;- ):)-').,! S#-, /*+' * ', ,' /)-).,/,-' )'#*+ ), *;, ')- 1? #' /,)-+ ')' ',
#/ %+, *', ,*,+ /*-,( #- ', ,+' ;)( '* .,-,)', *#'! , *%- ')' ', */)-(*,+ -*' %+, +* /% * %-+ * ',( **;, ,++ ')' #' )++%/,+ ,@,++#:, #+! T, */)-(
**;, ,++ +* ',( ):, '* )( ,++ ', )+ *%'*;+ * #-',,+' )- ,)(/,-'!
I- ',/+ * L#$%##'(? D%' L)( )+ )##'( '* .,-,)', ,)-#-.+ ,)'#:, '* +),+? )++,'+
)- ,$%#'(! T, *#')##'( * ) */)-( #+ ,#-. ,,'#:,( /)-).,! T, *#')##'( )'#*+
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#-%#-. ,'%- *- +),+ ? ,'%- *- )++,'+ ? )- ,'%- *- ,$%#'( ! A *
',+, )'#*+ #-#)', ')' ', */)-( #+ *#-. ;, )- #' #+ .** )' .,-,)'#-. *#'+? ,:,-%,+?
)- )+ *;+! L)+'(? D%' L)( ;# , )'')', ( /*, #-:,+'*+ #- ', %'%, )+ #'+
,)-#-.+ #-,)+, (,) ( (,) )- ,@,', '* ):, #., ,)-#-.+ .*;' #- ', %'%,! T*
*-%,? D%' L)(+ ,*/)-, #+ )' .** #-)-#) ,)'!
A,-#@29
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13 "%'%*-e S9eet St%teme*t
30
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31
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23 St%teme*t Cmre9e*s.;e I*-me
32
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73 C%s9 F'> St%teme*t
33
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43 Smm%r R%t.s r Dt-9 L%+ M.' I*+str.es "er9%+ 200@=2012
R%t. #e%r
2012 2011 2010 2009 2008
L.8.+.t R%t.s
1! C%,-' R)'#* 1!90 2!39 2!2 2!00 1!76
2! J%# R)'#* 1!37 1!70 2!21 1!41 1!17
Asset M%*%5eme*t R%t.s
1! A:,)., C*,'#*- P,#* 59!80 54!10 50!48 36!42 60!50
2! I-:,-'*( T%-*:, 6!17 5!42 6!16 8!04 7!03
3! F#@, A++,' T%-*:, 11!88 10!95 9!70 7!93 10!63
4! T*') A++,' T%-*:, 2!30 3!13 2!31 2!46 2!45
De&t M%*%5eme*t R%t.s
1! D,' R)'#* 0!44 0!54 0!36 0!34 0!44
2! D,' '* E$%#'( R)'#* 0!77 0!54 0!56 0!56 0!80
3! T#/, I-',,+' E)-, 56!82 151!65 B 82?031 196!46
4! F#-)-#) L,:,)., I-,@ 1!74 1!53 1!56 1!56 1!79
5! )-%'( R#+ 9!49 19!33 20!43 22!05 17!85
!r.t%&.'.t R%t.s
1! R,'%- *- S),+ 13!98K 13!33K 8!99K 8!73K 5!99K
2! R,'%- *- A++,'+ 32!23K 27!12K 20!78K 21!49K 14!65K
3! R,'%- *- E$%#'( 57!08K 41!70K 32!35K 33!56K 26!39K
M%ret %'e R%t.s
1! E)-#-.+ , S), 1!93 1!69 0!99 0!94 0!67
2! D#:#,- , S), 2!6 0!73 0!73 0!66 0!13
3! D#:#,- Y#, 5!54K 1!56K 1!56K 1!41K 0!28K
4! P#,E)-#-.+ R)'#* 24!30 27!73 47!37 49!37 70
5!M),' '* ** )%, R)'#* 13!91 11!60 15!22 16!69 18!61
?r.*5 C%.t%' M%*%5eme*t
1! C)+ C*-:,-'#*-) C(, B3!31 8!95 B19!28 11!91 29!95
2! *#-. C)#') F#-)-#-. B 20?153!59 B 22?869!39 107?505!91
I*ter*%' Gr>t9 R%te 0!78 0!13 0!18 0!18 0!30
D !*t E8%t.*s 57!04K 41!49K 32!20K 33!52K 26!37K
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3 R%t. C%'-'%t.*s
1. L.8.+.t R%t.s
11 Current Ratio 3
2008 3 1!76
2004 3
2010 3
20113
20123
12 Quick Ratio 3
2008 3
2004 3
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2010 3
2011 3
2012 3
2. Asset M%*%5eme*t R%t.s
21 AC 3
20083
20043
20103
20113
20123
22 !nventor" turnover 3
20083
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2004 3
2010 3
2011 3
2012 3
25 Fi$ed Asset #urnover 3
2008 3
2004 3
2010 3
2011 3
2012 3
26 #otal Asset #urnover 3
2008 3
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2004 3 267
2010 3 251
2011 3 515
2012 3 250
3. Debt Management Ratios
51 %e&t Ratio 3
2008 3
2004 3
2010 3
2011 3
2012 3
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56 Financial )everage !nde$ 3
20083
2004 3 31!5609
2010 3 3 1!5568
2011 3 1!5280
2012 3 3 1!7408
3!5 )-%'( R#+
Z score3 12$1 16$2 55$5 07$6 10$9
2008: 1
2
3
4
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5
Z score2008 Q Q Q Q2!4517!849
2009: 1
2
3
4
5
Z score200 Q Q Q Q 2!35 22!05
2010$ 1
2
3
4
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5
Z score20103 :12;062< :16;065< :55;024< :07 ; 27=7< 25132065
2011: 1
2
3
4
5
Z score20113 :12;05=< :16;0=9< :55;096< :07;2196< 51531455
2012: 1
2
3
4
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5
Z score20123 :12;058< :16;054
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2011 3
2012 3
65 Return on '(uit" :R>'< 3
2008 3
2004 3
2010 3
2011 3
2012 3
66 '(uit" multiplier
2008
2009
2010
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2011
2012
69 R>' 3
2008
2009
2010
2011
2012
67 !nternal Gro?th Rate3
20083
20043
20103 0!18
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20103 0!31
20123
5. M%ret %'e R%t.s
91 'arnings per ,hare 3
20083
20093
20103
20113
20123
92 %ividend per ,hare
20083
20093
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20103
20113
20123
95 %ividend -ield 3
2008 3
2004 3 3 001613161@
2010 3
20113
2012 3 3 00993996@
96 rice.'arnings Ratio 3
2008 3 3 =0
2004 3
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2010 3
2011 3
2012 3
99 ook alue per ,hare
20083
20043
20103
20113
20123
97 /arket to ook alue Ratio
2008
2009
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2010
2011
2012
6. ?r.*5 C%.t%' M%*%5eme*t
Cash Conversion Cc!e3 :Account Receiva&le eriod!nventor" Conversion eriod< + Account
a"a&le eriod
CCC2008 ARP
20083
ICP
2008 3
APP
2008 3
CCC2008 3 :70905=84< + 663 9654 or 96 da"s
"or#ing Ca$ita! %inancing20083
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CCC200$ ARP
20043
ICP
20043 * 30 )(+
APP
2004 3
CCC2009 3 :57622449
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2010 3
CCC2010 3 :90681026< 80 3 +1428
CCC2011$ ARP
20113
ICP
2011 3
APP
2011 3
CCC2011 3 :96106190< + 87793 849
"or#ing Ca$ita! %inancing2011 3
CCC2012$ ARP
20123
ICP
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2012 3
APP
2012 3
CCC2012 3 :94805961< + 48923 +551
Tre*+ %*%'s.s *est'e r%t. -%'-'%t.*
Asset M%*%5eme*t R%t.s
AC 3
20083
20043 10!11
20103
20113
20123
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!nventor" turnover 3
20083
2004 3 6!95
2010 3
2011 3
2012 3
%a"s !nventor"33
20083
20043
20103
20113
20123
Fi$ed Asset #urnover 3
2008 3
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2004 3
2010 3
2011 3
2012 3
#otal Asset #urnover 3
2008 3
2004 3
2010 3 2!26
2011 3 2!34
2012 3 2!39
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