[for the six months period ended June 30, 2014] Security code: TCID
Statements of Income
Rp Billion
2014
2013
Balance
%Growth
Net Sales 1.177.648 989.167 188.481 19.1%
COGs 731.940 646.430 85.510 13.2%
Gross Profit 445.709 342.737 102.972 30.0%
Operating Expenses 313.115 239.569 73.546 30.7%
Operating Income 132.594 103.168 29.426 28.5%
Net Income 94.418 78.070 16.348 20.9%
Comprehensive Income 94.771 79.064 15.707 19.9%
Basic Earnings per Share (in Rp) 470 388 82 21.1%
Statements of Financial Position
Rp Billion June 30,2014 Dec 31, 2013
Balance
%Growth
Current Assets 772.732 726.505 46.227 6.4%
Non-Current Assets 867.442 739.447 127.995 17.3%
Total Assets 1.640.174 1.465.952 174.222 11.9%
Current Liabilities 357.079 203.320 153.759 75.6%
Non-Current Liability 79.728 79.641 87 0.1%
Equity 1.203.367 1.182.991 20.376 1.7%
Total Liabilities & Equity 1.640.174 1.465.952 174.222 11.9%
Net Working Capital 415.653 523.185 -107.532 -20.6%
Issued Shares (in number of shares) 201.066.667 201.066.667 201.066.667 Statements of Cash Flows
Rp Billion
2014
2013
Balance
%Growth
Capital Expenditure 170.211 144.677 25.534 17.6%
Mandom Corp.: 60.84% Other founder : 1.62% Public : 37.54%
Sales was recorded at Rp 1.2 trillion, or grew by 19.1% compared to 2Q-13. The achievement is inline with the Company's double digit annual growth target.
Both domestic and export sales recorded a double digit growth, 17.2% and 23.4% respectively compared to 2Q-13.
The increase of cost of goods sold could be maintaned at 13.2% or below sales growth. Gross margin improved from 34.7% in 2Q-13 to 37.9%. Several efficiency efforts and product composition supported the improvement.
Capex in 2014 is planned to reach Rp 330 billion including funding for the construction of new office and factory in Cibitung. The construction progress is on schedule.
BUSINESS
RESULT
Shareholders
Composition
Brief
Analysis
Net Sales by Geographical Segment
Rp Billion
2014
2013
Balance
%Growth
Domestic 810.361 691.603 118.758 17.2%
Export 367.287 297.564 69.723 23.4%
Net Sales by Category
Rp Billion
2014
2013
Balance
%Growth
Men's 534.172 433.424 100.748 23.2%
Women's 614.924 517.160 97.764 18.9%
Others 28.552 38.583 -10.031 -26.0%
Net Sales By Segment
Rp Billion
2014
2013
Balance
%Growth
Skin Care & Make Up 416.514 338.860 77.654 22.9%
Hair Care 412.264 336.413 75.851 22.5%
Fragrance 328.356 287.451 40.905 14.2%
Others 20.514 26.443 -5.929 -22.4%
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 : Rp. 390 billion Site area : 148,000m2 Building area : 37,692m2
Net
Sales
Management
Plan
Mandom Indonesia managed 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
68,8% 31,2%
Domestic Export
336.413 412.264
338.860 416.514
287.451 328.356
2013 2014
Hair Care Skin Care & Make Up Fragrance
14.2%
22.9%
22.5%
Sunter Factory Current Cibitung Factory 68.8%
Hair Care
Skin Care & Make Up
Fragrance
Brief
Analysis
34,26%
Year on Year comparison
22.5%
Year on Year comparison
22.9%
Sales of hair care products grew by 22.5% compared to 2Q-13. Gatsby remains the biggest contributor to this category while for women's market, Lucido-L grew significantly and gaining market share.
.
Hair Care
(in Millions Rupiah)
261.961 336.413
412.264
2012 2013 2014
Skin Care & Make Up
(in Millions Rupiah)
339.275 338.860
416,514
2012 2013 2014
Fragrance
(in Millions Rupiah)
261.961
287.451
328.356
2012 2013 2014
Year on Year
comparison
14.2%
Sales of skin care & make up products grew by 22.9% compared to 2Q-13. Despite the intense competition in the ladies cosmetics market, Pixy managed to maintain its growth through its Tokyo Beauty campaign. Pixy would like to enhance the image of Japan quality cosmetics to the consumer.
Ratios
BVPS
Rp4.734,0 Rp5.085,5
Rp5.882,6 Rp5.983,9
2011 2012 2013 2014
CORPORATE
SECRETARY
/PR-
INVESTOR RELATIONS
Alia Dewi/Reza Azianur P: 62-21-6510061
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.
EPS
(in rupiah) 379358 388
470
2011 2012 2013 2014
Return On Equity
7,6% 7,4%
6,6%
7,8%
2011 2012 2013 2014
Return On Assets
6,3% 6,4%
5,3%
5,8%
2011 2012 2013 2014
EBITDA Margin
20,4%
14,5% 14,2% 13,9%
2011 2012 2013 2014
Dividen Yield*
3,8% 4,1%
3,5%
2,3%
2011 2012 2013 2014
7.6%
