[for the years ended December 31, 2014] Security code: TCID
Statements of Income
Rp Billion
FY2014
FY2013
Balance
%Growth
Net Sales 2,308,204 2,027,899 280,305 13.8%
COGs 1,411,935 1,250,786 161,149 12.9%
Gross Profit 896,269 777,114 119,155 15.3%
Operating Expenses 641,772 551,225 90,547 16.4%
Operating Income 254,496 225,889 28,607 12.7%
Net Income 174,314 160,148 14,166 8.8%
Comprehensive Income 174,908 160,564 14,344 8.9%
Basic Earnings per Share (in Rp) 867 796 71 8.9%
Statements of Financial Position
Rp Billion Dec 31, 2014 Dec 31, 2013
Balance
%Growth
Current Assets 874,017 726,505 147,512 20.3%
Non-Current Assets 979,218 739,447 239,771 32.4%
Total Assets 1,853,235 1,465,952 387,283 26.4%
Current Liabilities 486,054 203,320 282,734 139.1%
Non-Current Liability 83,677 79,641 4,036 5.1%
BUSINESS
RESULT
INVESTOR
BRIEF
Non-Current Liability 83,677 79,641 4,036 5.1%
Equity 1,283,504 1,182,991 100,513 8.5%
Total Liabilities & Equity 1,853,235 1,465,952 387,283 26.4%
Net Working Capital 387,963 523,185 -135,222 -25.8%
Issued Shares (in number of shares) 201,066,667 201,066,667 201,066,667
Statements of Cash Flows
Rp Billion
FY2014
FY2013
Balance
%Growth
Capital Expenditure 306,227 315,010 8,783 -2.8%
Mandom Corp.: 60.84% Other founder : 1.62% Public : 37.54%
The Company managed to achieve its annual target by recording sales at Rp 2.31 trillion or grew by 13.8% compared to FY13.
Both domestic & export sales recorded double digit growth of 10.7% and 21.7% respectively. COG increased by 12.9% or below sales growth. Several efficiency efforts conducted by the Company was succeed to maintain the increasing COG.
Operating expenses increased by 16.4%, due to the aggressive A&P to support activities related to introduction of new and renewal products throughout 2014.
Capex in 2014 reached Rp 306 billion. The construction of new office and factory has been completed. Relocation process is planned to be completed in 2Q-2015.
Shareholders
Composition
Net Sales by Geographical Segment
Rp Billion
FY2014
FY2013
Balance
%Growth
Domestic 1,606,189 1,451,013 155,176 10.7%
Export 702,014 576,886 125,128 21.7%
Net Sales by Category 2,308,203 2,027,899
Rp Billion
FY2014
FY2013
Balance
%Growth
Men's 1,072,374 889,177 183,197 20.6%
Women's 1,181,615 1,061,110 120,505 11.4%
Others 54,215 77,612 -23,397 -30.1%
Net Sales By Segment
Rp Billion
FY2014
FY2013
Balance
%Growth
Skin Care & Make Up 794,479 739,342 55,137 7.5%
Hair Care 845,718 665,917 179,801 27.0%
Fragrance 627,514 570,410 57,104 10.0%
Others 40,492 52,231 -11,739 -22.5%
Net
Sales
739,342 794,479
570,410 627,514
30.4%
10.0%
7.5%
The construction of new office and factory had been completed on December. Relocation has been started since February 2015 and is estimated in mid-2015, operational and production process will run thoroughly in the new area.
Investment : Rp. 390 billion Site area : 148,000m2 Building area : 37,692m2
Management
Plan
Mandom Indonesia is planning to achieve sales target of Rp 3 trillion by the end of 2016 as the final year of MID-4. The Company put efforts on strengthening the Company’s brands particularly Gatsby and Pixy,
enhancing export business, and also entering into new business categories. Fourth Stage of the 3-Year Middle Range Management Planning (MID-4)
2014 - 2016
Become The Real Global Company
Future
Expansion
665,917 845,718
FY2013 FY2014
Fragrance Skin Care & Make Up Hair Care
69.6%
Domestic Export
27.0%
Cibitung Factory Sunter Factory
Hair Care
Skin Care & Make Up
Brief
Analysis
Year on Year
Supported by several new & renewal products such as GATSBY Hairstyling Mist, GATSBY Styling Pomade and New Gatsby Styling Wax, hair care products managed to record a significant
performance whereby sales grew by 27.0% compared to FY13. This performance was also driven by Lucido-l as a new brand for hair care products which continuously showing a positive acceptance from the market. First time launched in
2012, currently Lucido-l is No. 2 in hair vitamin market.
647,698 665,917
845,718
FY2012 FY2013 FY2014
Sales of Hair Care
(in Millions Rupiah)
794,479
Skin Care & Make Up
(in Millions Rupiah)
Fragrance
FY2012 FY2013 FY2014
490,761
570,410
627,514
FY2012 FY2013 FY2014
Sales of Fragrance
(in Millions Rupiah)
Year on Year comparison
10.0%
Amid tight competition, in 2014 skin care & makeup products managed to achieve 7.5% sales growth compared to the preceeding year. Men's skin care market still grew faster than women's. In 2Q2014 we launched GATSBY Skin Tonic Cooling Face Wash. Meanwhile, in facing tough competition in ladies cosmetics market, we launched PIXY BB Cream Bright Fix and PIXY Compact Powder Pure Finish.
Ratios
15.20% 14.62% 14.28% 13.63%
FY2011 FY2012 FY2013 FY2014
EBITDA Margin
13.75% 13.75% 13.54% 13.58%
FY2011 FY2012 FY2013 FY2014
Return On Equity
12.41% 11.95%
10.92%
9.41%
FY2011 FY2012 FY2013 FY2014
Return On Assets
541 657
796 867
FY2011 FY2012 FY2013 FY2014
EPS
(in rupiah)
*stock price as of Dec 31, 2014 FY2011 FY2012 FY2013 FY2014
Rp5,074.2 Rp5,454.1
Rp5,882.6 Rp6,382.4
FY2011 FY2012 FY2013 FY2014
BVPS
4.42%
3.68%
3.11%
2.11%
FY2011 FY2012 FY2013 FY2014
Dividen Yield*
CORPORATE
SECRETARY
/PR-
INVESTOR RELATIONS
Alia Dewi/Reza Azianur P: 62-21-6510061 F: 62-21-6510069 E-mail:
[email protected]/ [email protected]
W: www.mandom.co.id
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.
