[For the three months period ended March 31, 2014 & 2013] Security code: TCID
Statements of Income
Rp Billion
2014
2013
Balance
%Growth
Net Sales 589.694 458.310 131.384 28,7%
COGs 362.198 302.080 60.118 19,9%
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%
Basic Earnings per Share (in Rp) 312 193 119 61,7%
Statements of Financial Position
Rp Billion
2014
2013
Balance
%Growth
Current Assets 819.758 870.216 50.458 -5,8%
Non-Current Assets 743.704 481.964 261.740 54,3%
Total Assets 1.563.462 1.352.180 211.282 15,6%
Current Liabilities 234.706 146.218 88.488 60,5%
Non-Current Liability 82.645 70.072 12.573 17,9%
Equity 1.246.113 1.135.891 110.222 9,7%
Total Liabilities & Equity 1.465.952 1.352.180 113.772 8,4%
Net Working Capital 585.052 723.998 -138.946 -19,2%
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 26.995 12.932 14.063 108,7%
Mandom Corp.: 60.84% Other founder : 1.62% Public : 37.54%
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.
BUSINESS
RESULT
Shareholders
Composition
Brief
Analysis
Net Sales by Geographical Segment
Rp Billion
2014
2013
Balance
%Growth
Domestic 395.458 326.468 68.990 21,1%
Export 194.236 131.841 62.395 47,3%
Net Sales by Category
Rp Billion
2014
2013
Balance
%Growth
Men's 274.164 199.909 74.255 37,1%
Women's 301.887 241.313 60.574 25,1%
Others 13.643 17.087 -3.444 -20,2%
Net Sales By Segment
Rp Billion
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%
Others 9.423 12.261 -2.838 -23,1%
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
Management
Plan
Fourth Stage of the 3-Year Middle Range Management Planning (MID-4) 2014 - 2016
Become The Real Global Company
Future
Expansion
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.
Net
Sales
155.365 222.406
155.229 203.055
154.811 135.454
2013 2014
Hair Care Skin Care & Make Up Fragrance 67.06%
32.94%
Domestic Export
14.3%
30.8%
43,2%
Hair Care
Skin Care & Make Up
Fragrance
Brief
Analysis
Sales of Fragrance
(in Millions Rupiah)143.734
135.454
154.811
2012 2013 2014
34,26%
Year on Year comparison
43.2%
Year on Year comparison
30.8%
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.
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.
Sales of Hair Care
(in Millions Rupiah)162.072 155.365
222.406
2012 2013 2014
Skin Care & Make Up
(in Millions Rupiah)181.388
155.229 203,055
2012 2013 2014
Year on Year
comparison
14.3%
Ratios
EBITDA Margin
34,41%16,34% 15,16% 17,35%
2011 2012 2013 2014
BVPS
Rp5.011,1 Rp5.313,7 Rp5.648,4
Rp6.196,5
2011 2012 2013 2014
Dividen Yield*
4,5% 4,1%
2,8% 2,7%
2011 2012 2013 2014
PR-
INVESTOR RELATIONS
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
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.
Return On Equity
5,9%4,5%
3,4%
5,0%
2011 2012 2013 2014
Return On Assets
5,0%3,9%
2,9% 4,0%
2011 2012 2013 2014
EPS
(in rupiah) 295239
193 312
2011 2012 2013 2014
