d0bb169c9c8a3f856b15f689d88fd637
INVESTOR
BRIEF
[For the three months period ended March 31, 2014 & 2013]
Security code: TCID
BUSINESS RESULT
Statements of Income
2014
2013
Balance
Net Sales
589.694
458.310
131.384
28,7%
COGs
362.198
302.080
60.118
19,9%
Rp Billion
%Growth
Gross Profit
227.496
156.230
71.266
45,6%
Operating Expenses
141.157
107.039
34.118
31,9%
Operating Income
86.340
49.191
37.149
75,5%
Net Income
62.751
38.798
23.953
61,7%
Comprehensive Income
63.122
39.069
24.053
61,6%
312
193
119
61,7%
%Growth
Basic Earnings per Share (in Rp)
Statements of Financial Position
2014
2013
Balance
Current Assets
819.758
870.216
50.458
-5,8%
Non-Current Assets
743.704
481.964
261.740
54,3%
1.563.462
1.352.180
211.282
15,6%
234.706
146.218
88.488
60,5%
17,9%
Rp Billion
Total Assets
Current Liabilities
Non-Current Liability
82.645
70.072
12.573
Equity
1.246.113
1.135.891
110.222
9,7%
Total Liabilities & Equity
1.465.952
1.352.180
113.772
8,4%
-19,2%
Net Working Capital
Issued Shares (in number of shares)
585.052
723.998
-138.946
201.066.667
201.066.667
201.066.667
2014
2013
Balance
%Growth
26.995
12.932
14.063
108,7%
Statements of Cash Flows
Rp Billion
Capital Expenditure
Shareholders Composition
Mandom Corp.: 60.84%
Other founder : 1.62%
Public
: 37.54%
Brief Analysis
Sales was recorded at Rp 589.7 billion, or grew by 28.7% compared to 1Q-13. The achievement is
inline with the Company's double digit annual growth target.
Both domestic and export sales recorded a double digit growth, 21.1% and 47.3% respectively
compared to 1Q-13.
Cost of goods sold increased by 19.9% compared to 1Q-13 to Rp 362.2 billion and operating
expenses also increased by 31.9% to Rp 141.2 billion.
However, net income could recorded a double digit growth of 61.7% with 10.6% ratio to sales.
Capex in 2014 is planned to reach Rp 330 billion including funding for the construction of new
office and factory which is expected to complete the end of this year.
Net Sales
Net Sales by Geographical Segment
2014
2013
Balance
%Growth
Domestic
395.458
326.468
68.990
21,1%
Export
194.236
131.841
62.395
47,3%
Rp Billion
Net Sales by Category
2014
2013
Balance
%Growth
Men's
274.164
199.909
74.255
37,1%
Women's
301.887
241.313
60.574
25,1%
13.643
17.087
-3.444
-20,2%
Rp Billion
Others
Net Sales By Segment
2014
2013
Balance
%Growth
Skin Care & Make Up
203.055
155.229
47.826
30,8%
Hair Care
222.406
155.365
67.041
43,2%
Fragrance
154.811
135.454
19.357
14,3%
9.423
12.261
-2.838
-23,1%
Rp Billion
Others
14.3%
154.811
135.454
30.8%
32.94%
203.055
155.229
67.06%
43,2%
Domestic
155.365
222.406
2013
2014
Export
Hair Care
Skin Care & Make Up
Fragrance
Management Plan
Fourth Stage of the 3-Year Middle Range Management Planning (MID-4)
2014 - 2016
Become The Real Global Company
Mandom Indonesia is entering the MID-4 period which will commence from 2014 - 2016. During this period, the
Company will focus on strengthening Gatsby and Pixy brands, develop new brands-new products-and new
categories, expand export markets, and enhance the quality of production system, research, and product
development. Sales target for this period is Rp 3 trillion which is planned to be achieved in 2016.
Future Expansion
At the moment, we are constructing new factory in Cibitung industrial town starting June 2013.
The construction is estimated to be completed on December 2014. By early 2015, we will move all
the office and production facility from Sunter to the new Cibitung factory.
Investment
Site area
: Rp. 390 billion
: 148,000m2
Building area : 37,692m2
Sunter Factory
Current Cibitung
Factory
Brief Analysis
Hair Care
Sales of Hair Care
222.406
Year on Year
(in Millions Rupiah)
162.072
comparison
43.2%
155.365
Sales of hair care products in 1Q2014
grew significantly by 43.2% to Rp 222.4
billion. Gatsby launched new series of
hair styling products which offers new
way and new look to men's hair style.
2012
2013
2014
Skin Care & Make Up
Skin Care & Make Up
(in Millions Rupiah)
203,055
Year on Year
comparison
30.8%
181.388
155.229
Sales of skin care & make up products
grew significantly by 30.8% to Rp 203.1
billion compared to 1Q2013. The Company
is increasing promotional activities
especially for ladies cosmetics in order to
manage the increasingly tight competition
in the market.
34,26%
2012
2013
2014
Fragrance
Year on Year
Sales of Fragrance
(in Millions Rupiah)
comparison
154.811
14.3%
Sales of fragrance products continuing
its double digit growth and recorded a
growth of 14.3% compared to
1Q2013. In the men's fragrance
market, Gatsby is now number 1 and
its Urban Cologne Series becomes the
number 1 too.
143.734
135.454
2012
2013
2014
Ratios
5,9%
5,0%
Return On Equity
5,0%
Return On Assets
4,0%
3,9%
4,5%
2,9%
3,4%
2011
34,41%
2012
2013
2014
EBITDA Margin
2011
2012
295
2013
2014
312
EPS
239 (in rupiah)
193
16,34%
15,16%
17,35%
2011
2011
2012
2013
2012
2013
2014
2014
Dividen Yield*
BVPS
Rp6.196,5
4,5%
4,1%
Rp5.648,4
Rp5.011,1
2011
Rp5.313,7
2012
2013
Alia Dewi/Reza Azianur
P: 62-21-6510061
F: 62-21-6510069
E-mail:
alia.dewi@mandom.co.id/reza.azianur
@mandom.co.id
W: www.mandom.co.id
PT Mandom Indonesia Tbk
@mandomindonesia
2,7%
2013
2014
2014
2011
PR-INVESTOR RELATIONS
2,8%
2012
DISCLAIMER
This report contains certain statements of future expectations and
other forward-looking statements, including those relating to our
general business plan and strategy, our future financial condition, and
growth prospect. Forward-looking statements involve risk and
uncertainty which could cause actual results and development to differ
materially from those expressed or implied in these statements. All
opinions and estimations included in this report constitute our
judgement as of the said period and are subject to change without
prior notice. Mandom Indonesia does not guarantee that any actions,
which should have been taken in reliance on this report will bring
specific result as expected.
BRIEF
[For the three months period ended March 31, 2014 & 2013]
Security code: TCID
BUSINESS RESULT
Statements of Income
2014
2013
Balance
Net Sales
589.694
458.310
131.384
28,7%
COGs
362.198
302.080
60.118
19,9%
Rp Billion
%Growth
Gross Profit
227.496
156.230
71.266
45,6%
Operating Expenses
141.157
107.039
34.118
31,9%
Operating Income
86.340
49.191
37.149
75,5%
Net Income
62.751
38.798
23.953
61,7%
Comprehensive Income
63.122
39.069
24.053
61,6%
312
193
119
61,7%
%Growth
Basic Earnings per Share (in Rp)
Statements of Financial Position
2014
2013
Balance
Current Assets
819.758
870.216
50.458
-5,8%
Non-Current Assets
743.704
481.964
261.740
54,3%
1.563.462
1.352.180
211.282
15,6%
234.706
146.218
88.488
60,5%
17,9%
Rp Billion
Total Assets
Current Liabilities
Non-Current Liability
82.645
70.072
12.573
Equity
1.246.113
1.135.891
110.222
9,7%
Total Liabilities & Equity
1.465.952
1.352.180
113.772
8,4%
-19,2%
Net Working Capital
Issued Shares (in number of shares)
585.052
723.998
-138.946
201.066.667
201.066.667
201.066.667
2014
2013
Balance
%Growth
26.995
12.932
14.063
108,7%
Statements of Cash Flows
Rp Billion
Capital Expenditure
Shareholders Composition
Mandom Corp.: 60.84%
Other founder : 1.62%
Public
: 37.54%
Brief Analysis
Sales was recorded at Rp 589.7 billion, or grew by 28.7% compared to 1Q-13. The achievement is
inline with the Company's double digit annual growth target.
Both domestic and export sales recorded a double digit growth, 21.1% and 47.3% respectively
compared to 1Q-13.
Cost of goods sold increased by 19.9% compared to 1Q-13 to Rp 362.2 billion and operating
expenses also increased by 31.9% to Rp 141.2 billion.
However, net income could recorded a double digit growth of 61.7% with 10.6% ratio to sales.
Capex in 2014 is planned to reach Rp 330 billion including funding for the construction of new
office and factory which is expected to complete the end of this year.
Net Sales
Net Sales by Geographical Segment
2014
2013
Balance
%Growth
Domestic
395.458
326.468
68.990
21,1%
Export
194.236
131.841
62.395
47,3%
Rp Billion
Net Sales by Category
2014
2013
Balance
%Growth
Men's
274.164
199.909
74.255
37,1%
Women's
301.887
241.313
60.574
25,1%
13.643
17.087
-3.444
-20,2%
Rp Billion
Others
Net Sales By Segment
2014
2013
Balance
%Growth
Skin Care & Make Up
203.055
155.229
47.826
30,8%
Hair Care
222.406
155.365
67.041
43,2%
Fragrance
154.811
135.454
19.357
14,3%
9.423
12.261
-2.838
-23,1%
Rp Billion
Others
14.3%
154.811
135.454
30.8%
32.94%
203.055
155.229
67.06%
43,2%
Domestic
155.365
222.406
2013
2014
Export
Hair Care
Skin Care & Make Up
Fragrance
Management Plan
Fourth Stage of the 3-Year Middle Range Management Planning (MID-4)
2014 - 2016
Become The Real Global Company
Mandom Indonesia is entering the MID-4 period which will commence from 2014 - 2016. During this period, the
Company will focus on strengthening Gatsby and Pixy brands, develop new brands-new products-and new
categories, expand export markets, and enhance the quality of production system, research, and product
development. Sales target for this period is Rp 3 trillion which is planned to be achieved in 2016.
Future Expansion
At the moment, we are constructing new factory in Cibitung industrial town starting June 2013.
The construction is estimated to be completed on December 2014. By early 2015, we will move all
the office and production facility from Sunter to the new Cibitung factory.
Investment
Site area
: Rp. 390 billion
: 148,000m2
Building area : 37,692m2
Sunter Factory
Current Cibitung
Factory
Brief Analysis
Hair Care
Sales of Hair Care
222.406
Year on Year
(in Millions Rupiah)
162.072
comparison
43.2%
155.365
Sales of hair care products in 1Q2014
grew significantly by 43.2% to Rp 222.4
billion. Gatsby launched new series of
hair styling products which offers new
way and new look to men's hair style.
2012
2013
2014
Skin Care & Make Up
Skin Care & Make Up
(in Millions Rupiah)
203,055
Year on Year
comparison
30.8%
181.388
155.229
Sales of skin care & make up products
grew significantly by 30.8% to Rp 203.1
billion compared to 1Q2013. The Company
is increasing promotional activities
especially for ladies cosmetics in order to
manage the increasingly tight competition
in the market.
34,26%
2012
2013
2014
Fragrance
Year on Year
Sales of Fragrance
(in Millions Rupiah)
comparison
154.811
14.3%
Sales of fragrance products continuing
its double digit growth and recorded a
growth of 14.3% compared to
1Q2013. In the men's fragrance
market, Gatsby is now number 1 and
its Urban Cologne Series becomes the
number 1 too.
143.734
135.454
2012
2013
2014
Ratios
5,9%
5,0%
Return On Equity
5,0%
Return On Assets
4,0%
3,9%
4,5%
2,9%
3,4%
2011
34,41%
2012
2013
2014
EBITDA Margin
2011
2012
295
2013
2014
312
EPS
239 (in rupiah)
193
16,34%
15,16%
17,35%
2011
2011
2012
2013
2012
2013
2014
2014
Dividen Yield*
BVPS
Rp6.196,5
4,5%
4,1%
Rp5.648,4
Rp5.011,1
2011
Rp5.313,7
2012
2013
Alia Dewi/Reza Azianur
P: 62-21-6510061
F: 62-21-6510069
E-mail:
alia.dewi@mandom.co.id/reza.azianur
@mandom.co.id
W: www.mandom.co.id
PT Mandom Indonesia Tbk
@mandomindonesia
2,7%
2013
2014
2014
2011
PR-INVESTOR RELATIONS
2,8%
2012
DISCLAIMER
This report contains certain statements of future expectations and
other forward-looking statements, including those relating to our
general business plan and strategy, our future financial condition, and
growth prospect. Forward-looking statements involve risk and
uncertainty which could cause actual results and development to differ
materially from those expressed or implied in these statements. All
opinions and estimations included in this report constitute our
judgement as of the said period and are subject to change without
prior notice. Mandom Indonesia does not guarantee that any actions,
which should have been taken in reliance on this report will bring
specific result as expected.