[for the nine months period ended September 30, 2014] Security code: TCID
Statements of Income
Rp Billion
2014
2013
Balance
%Growth
Net Sales 1,763,837 1,560,074 203,763 13.1%
COGs 1,098,212 979,815 118,397 12.1%
Gross Profit 665,625 580,259 85,366 14.7%
Operating Expenses 451,111 364,190 86,921 23.9%
Operating Income 214,514 216,069 -1,555 -0.7%
Net Income 151,501 162,219 -10,718 -6.6%
Comprehensive Income 152,065 163,120 -11,055 -6.8%
Basic Earnings per Share (in Rp) 753 807 -54 -6.7%
Statements of Financial Position
Rp Billion Sept 30, 2014 Dec 31, 2013
Balance
%Growth
Current Assets 865,300 726,505 138,795 19.1%
Non-Current Assets 882,086 739,447 142,639 19.3%
Total Assets 1,747,386 1,465,952 281,434 19.2%
Current Liabilities 404,622 203,321 201,301 99.0%
Non-Current Liability 82,104 79,641 2,463 3.1%
Equity 1,260,661 1,182,991 77,670 6.6%
Total Liabilities & Equity 1,747,386 1,465,952 281,434 19.2%
Net Working Capital 460,678 523,184 -62,506 -11.9%
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 196,334 166,233 30,101 18.1%
Mandom Corp.: 60.84% Other founder : 1.62% Public : 37.54%
Sales was recorded at Rp 1.8 trillion, or grew by 13.1% compared to 3Q-13. This achievement still inline with the Company's double digit annual growth target.
The increase of cost of goods sold could be maintaned at 12.1% or below sales growth. In an effort to maintain COG the Company do several efficiency efforts and product composition. Operating Expenses increase 23.9%. The increase affected by investment on A&P in order to introduce new and renewal products.
Although net income slowed down -6,6% compared to same period last year due to more aggressive marketing & promotion activities, the Company still optimist to record growth by the year end. 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
INVESTOR
BRIEF
Net Sales by Geographical Segment
Rp Billion
2014
2013
Balance
%Growth
Domestic 1,197,941 1,090,158 107,783 9.9%
Export 565,896 469,915 95,981 20.4%
Net Sales by Category
Rp Billion
2014
2013
Balance
%Growth
Men's 814,904 673,925 140,979 20.9%
Women's 904,113 823,494 80,619 9.8%
Others 44,820 62,655 -17,835 -28.5%
Net Sales By Segment
Rp Billion
2014
2013
Balance
%Growth
Skin Care & Make Up 601,980 489,854 112,126 22.9%
Hair Care 630,875 508,591 122,284 24.0%
Fragrance 498,025 471,917 26,108 5.5%
Others 32,956 89,711 -56,755 -63.3%
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
Fourth Stage of the 3-Year Middle Range Management Planning (MID-4)
2014 - 2016
Become The Real Global Company
Future
Expansion
Net
Sales
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.
508,591 630,875
489,854 601,980
471,917 498,025
2013 2014
Fragrance Skin Care & Make Up Hair Care 67.9%
32.1%
Domestic Export
5,5%
22,9%
24,0%
Hair Care
Skin Care & Make Up
Fragrance
Brief
Analysis
34,26%
Year on Year comparison
24,0%
Year on Year comparison
22,9%
Sales of hair care products grew by 24,0% compared to 3Q-13. As the biggest contributor, Gatsby continues to invent new and renewal products, such as Gatsby Hairstyling Mist, New Gatsby Styling Wax and Gatsby Styling Pomade. While Lucido-l continues to grow and gain market share.
. 499,837 508,591
630,875
2012 2013 2014
Sales of Hair Care
(in Millions Rupiah)
498,627 489,854
601.980
2012 2013 2014
Skin Care & Make Up
(in Millions Rupiah)
382,075
471,917 498,025
2012 2013 2014
Sales of Fragrance
(in Millions Rupiah)
Year on Year comparison
5,5%
Sales of skin care & make up products grew by 22.9% compared to3Q-13. Gatsby launched the renewal of its face wash series called Gatsby Skin Tonic Cooling Face Wash. Distribution is progressing and sales is showing optimistic result. Pixy managed to maintain its growth through Pixy Tokyo Beauty Campaign which has successfully supported Pixy to penetrate younger market. The newly launched Pixy BB Cream is hoped to enhance its position in the market.
*stock price on September 30
Ratios
16.0% 16.2%
17.5%
15.0%
2011 2012 2013 2014
EBITDA Margin
Rp4,917.9 Rp5,365.2
Rp5,895.3
Rp6,268.8
2011 2012 2013 2014
BVPS
4.0% 4.5%
3.5%
2.1%
2011 2012 2013 2014
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. 11.0%
12.2% 13.7%
12.0%
2011 2012 2013 2014
Return On Equity
9.4%
10.4% 11.1%
8.7%
2011 2012 2013 2014
Return On Assets
541
657 807
753
2011 2012 2013 2014
