Update 1 Quarter 2016 - sidomuncul.com fileThis presentation is made to provide information. No...
Transcript of Update 1 Quarter 2016 - sidomuncul.com fileThis presentation is made to provide information. No...
This presentation is made to provide information. No representation or warranty is made as tothe fairness, accuracy, completeness or correctness of the information, opinions and conclusionscontained within this presentation. All information including business forward plans in thispresentation should not be considered as a recommendation in relation to holding purchasing orselling shares in any jurisdiction. No copy or use of this presentation should occur without thepermission of PT INDUSTRI JAMU DAN FARMASI SIDO MUNCUL TBK.
Disclaimer
HIGHLIGHTS (IDR Bn)
Q1'16 Q1'15
Unaudited Unaudited
Net Sales 608 509 19.4%
Operating Income 149 138 7.6%
% Margin 24.5% 27.2% -2.7%
Net Income 125 118 6.3%
Total Assets 2,918 2,906 0.4%
Total Liabilities 223 153 45.3%
Total Equity 2,695 2,753 -2.1%
Woriking Capital 1,602 1,689 -5.1%
Current Ratio 8.4 12.4 -4.0
Cash Conversion Cycle 99 85 13.2
∆
MILESTONES
1940 1984
The company initially was a domestic herbalmedicine industry managed by Mrs. RahmatSulistio in Yogyakarta.
The production process was moved toSemarang, and an unpretentious companywas founded with the name SIDO MUNCULwhich means “a dream come true” with itsfirst factory located in Jl. Mlaten Trenggulun,Semarang.
1951 1970
The limited partnership was formedunder the name CV Industri Jamu &Farmasi Sido Muncul.
The factory was moved to LingkunganIndustri Kecil Semarang. The plant beganto be equipped with modern machinery.
Establishment of herbal medicineindustry turned into a Limited Companyunder the name of PT Industri Jamu danFarmasi Sido Muncul.
1975
Cornerstone-laying was held for theconstruction of a new, bigger and moremodern factory in Klepu, Ungaran by SriSultan Hamengkubuwono X and witnessed byDirector General of Food and DrugAdministration.
1997
The new factory is located in Klepu, subBergas, Ungaran with an area of about 30hectares..
2000
Sido Muncul conducted initial publicoffering of 1,500,000,000 shares withthe issue price of Rp 580.- per share.
2013
PT Berlico Mulia Farma joined the SidoMuncul Group, expanding Sido Muncul’sbusiness in pharmaceutical industry.
2014
The expansion of extraction plantof PT Semarang Herbal Indo Plantwas completed and fullyoperational.
2015
KEY ACHIVEMENTS
GOLD CHAMPION – INDONESIA WOW BRAND 2015 COMMON GOLD – BEST BRAND AWARD
NUSANTARA CSR AWARD – LA TOFFI SCHOOL OF CSR CORPORATE IMAGE AWARD 2015
Medan
Batam
PadangBangka
Belitung
Palembang
Bandar Lampung
Bengkulu
Jambi
Samarinda
Tarakan
Pontianak
Ketapang
Banjarmasin
Manado
GorontaloPalu
Kendari
Makassar
Ambon
Tobelo
Ternate
BiakSorong
Manokwari
Nabire
Timika
Jayapura
Merauke
Atambua
KupangSumbawa
LombokBali
Jakarta
Surabaya
YogyakartaSolo
Cilacap
Tangerang
Purwakarta
Cilacap
Madura
Jombang
DISTRIBUTION NETWORK
PT Muncul Mekar has 115 distributorsthroughout Indonesia and also expands itscooperation with several national modernoutlets and pharmaceutical wholesalers
TraditionalTrade
ModernOutlet
MedicalChannel/Distributor
West EastCentral
Wholesaler, Supermarket, Retail
Customers
PLANT EXPANSIONPT SEMARANG HERBAL INDO PLANT
The expansion of new extractionplant was finished. The new plantincreases the herbs extractioncapacity up to three times fromcurrent capacity, 4,500 kg/day to13,500 kg/day.
PLANT EXPANSIONSIDO MUNCUL
The new production facilities ofliquid herbal medicine is expected tobe completed by 2017. The newfacilities will increase theproduction capacity twice fromcurrent capacity
276.8 352.1
211.3
236.0 21.3
20.1
Q1'15(Unaudited)
Q1'16(Unaudited)
Herbal & Supplement
57.9%
Food & Beverage
38.8%
Pharmacies3.3%
SALES (IDR Bn)
SALES MIX
509.4
608.2
Consolidated+19.4%
Pharmacies-5.6% (YoY)
Food & Beverages+11.7% (YoY)
Herbal & Supplement+27.2% (YoY)
138.4 148.9
27.2%24.5%
Q1'15(Unaudited)
Q1'16(Unaudited)
Operating Income Operating Margin
6.6%11.1%
4.4%
4.2%
Q1'15(Unaudited)
Q1'16(Unaudited)
Selling & Marketing General & Administrative
194.6
241.7
38.2% 39.7%
Q1'15(Unaudited)
Q1'16(Unaudited)
Gross Profit Gross Profit Margin
OPERATING PERFORMANCE (IDR Bn)
OPERATING EXPENSES TO SALES
GROSS PROFIT
OPERATING INCOMEConsolidated+24.2%
Consolidated+7.6%
2724 25
99%85% 84%
2013 2014 2015
Dividend per Share % Payout
118.0 125.4
23.2%20.6%
Q1'15(Unaudited)
Q1'16(Unaudited)
Net Income Net Profit Margin
30.6%27.5%
Q1'15(Unaudited)
Q1'16(Unaudited)
NET EARNINGS (IDR Bn)
NET INCOME
DIVIDEND
EBITDA MARGIN
Consolidated+6.3%
0.0 0.0 0.0 0.0
2013(Audited)
2014(Audited)
2015(Audited)
Q1'16(Unaudited)
79 78 86
99
2013(Audited)
2014(Audited)
2015(Audited)
Q1'16(Unaudited)
FINANCIAL POSITION (IDR Bn)
ASSETS & EQUITY
CASH CONVERSION
DEBT POSITION
2,955
2,821 2,796
2,918
2,614 2,625 2,598
2,695
2013(Audited)
2014(Audited)
2015(Audited)
Q1'16(Unaudited)
Assets Equity
REMAINING IPO PROCEEDS (IDR Bn)
168.08
48.20 10.54
226.82
Sido Muncul Muncul Mekar InformationTechnology
Total 2016/2017
APPENDICES
Main Office:
Gedung Menara Suara Merdeka Lantai 16
Jl Pandanaran No.30
Semarang 50134, Indonesia
Phone: (+6224) 7692-8811
Fax: (+6224) 7692-8815
Factory:
Jl Soekarno Hatta km 28
Kecamatan Bergas, Klepu
Semarang 50552, Indonesia
Phone: (+62298) 523-515
Fax: (+62298) 523-509
Website : www.sidomuncul.com
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
in IDR Mn Q1'16 2015
Unaudited Audited
Current Assets
Cash and Cash Equivalents 813,407 836,975 -2.8%
Time Deposits 190,000 190,000 0.0%
Trade Receivables 400,469 335,600 19.3%
Inventories - Net 327,496 264,982 23.6%
Others 88,368 79,882 10.6%
Total Current Assets 1,819,740 1,707,439 6.6%
Total Non-current Assets 1,098,373 1,088,672 0.9%
TOTAL ASSETS 2,918,113 2,796,111 4.4%
∆
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
in IDR Mn Q1'16 2015
Unaudited Audited
Trade Payables 167,421 147,753 13.3%
Other Payables 5,869 10,532 -44.3%
Taxes Payable 34,148 21,475 59.0%
Accrued Expenses 8,312 3,297 152.1%
Others 1,632 1,003 62.7%
Total Current Liabilities 217,382 184,060 18.1%
Total Non-current Liabilites 5,449 13,737 -60.3%
TOTAL LIABILITIES 222,831 197,797 12.7%
EQUITY
Equity Attributable to Owners of the Parent Entity 2,695,275 2,598,307 3.7%
Non-controlling Interest 7 7 0.0%
TOTAL EQUITY 2,695,282 2,598,314 3.7%
TOTAL LIABILITIES AND EQUITY 2,918,113 2,796,111 4.4%
∆
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
in IDR Mn Q1'16 Q1'15
Unaudited Unaudited
Sales 608,243 509,417 19.4%
Cost of Good Sold 366,568 314,799 16.4%
Gross Profit 241,675 194,618 24.2%
% Margin 39.7% 38.2% 1.5%
Sales and Marketing Expenses 67,423 33,610 100.6%
General and Administrative Expenses 25,385 22,609 12.3%
Operating Income 148,867 138,399 7.6%
% Margin 24.5% 27.2% -2.7%
Other Finance Income 14,100 15,037 -6.2%
Other Finance Expenses 680 284 139.4%
Other Operating Income 1,319 2,263 -41.7%
Other Operating Expenses 419 1,273 -67.1%
Income Before Tax 163,187 154,142 5.9%
% Margin 26.8% 30.3% -3.4%
Income Tax Expenses 37,777 36,116 4.6%
Net Income for the Year 125,410 118,026 6.3%
% Margin 20.6% 23.2% -2.6%
Other Comprehensive Income (Loss) 0.0%
Total Comprehensive Income for the Year 125,410 118,026 6.3%
% Margin 20.6% 23.2% -2.6%
∆
CONSOLIDATED STATEMENTS OF CASH FLOWS
in IDR Mn Q1'16 Q1'15
Unaudited Unaudited
Cash Flows From Operating Activities 32,339 131,872
Cash Flows From Investing Activities (27,390) (94,527)
Cash Flows From Financing Activities (28,442)
Net Increase (Decrease) in Cash and Cash Equivalents (23,493) 37,345
Effect of Changes in Foreign Exchange Rate (75) 486
Cash and Cash Equivalents At the Beginning of the Year 836,975 864,791
Cash and Cash Equivalents At the End of the Year 813,407 902,622