ppb group berhad...offer was for 1 new ppb share plus cash of rm2.00 for every 1 ffm share...
TRANSCRIPT
HALF YEAR RESULTS 30 JUNE 2004
Presented by Koh Mei Lee
PPB GROUP BERHAD
Group Financial Highlights
Dividend
Share Information
Corporate Developments
Prospects For 2004
agenda
Group Financial Highlights
financial resultsJan to June
2004 2003 Change
RM mil RM mil %
Revenue 5,397 4,252 26.9
Profit from operations 275 287 (4.2)
Profit/(loss) from
investing activities
20 6 233.3
Share of associates 45 43 4.7
Finance costs (8) (6) 33.3
PBT 332 330 0.6
PAT 246 243 1.2
Earnings 171 169 1.2
financial resultsJan-Jun Full Year %
(All figures in RM million) 2004 2003 Change
Non-Current Assets 3,543 3,513 0.9
Current Assets 2,603 2,290 13.7
Less : Current Liabilities (1,173) (980) 19.7
Net Assets 4,973 4,823 3.1
Financed By :
Share Capital 491 491 -
Reserves 2,590 2,497 3.7
Shareholders’ Funds 3,081 2,988 3.1
Minority Interest 1,510 1,483 1.8
Non-Current & Def. Liabilities 382 352 8.5
4,973 4,823 3.1
NTA per share (sen) 621 602 3.2
financial ratios
EPS
34.9 sen34.4 sen
0
5
10
15
20
25
30
35
40
2003 2004
PE (annualised)
9.3x
6.7x
0
1
2
3
4
5
6
7
8
9
10
2003 2004
Jan to June
+1%
93
78
49
36
82
79
39
45
0
1
4
6
14
18
11
18
0
20
40
60
80
100
120
140
160
180
RM
milsegmental results
comparisonS
ug
ar
& c
an
e
Flo
ur,
feed
& g
rain
mil
lin
g
Oil
palm
pla
nta
tio
ns
Ed
ible
oil
refi
nin
g &
tra
din
g
Waste
man
ag
em
en
t &
uti
liti
es
Cin
em
as
Pro
pe
rty
Oth
ers
Jan to June
Y2003
Y2004
Edible oils refining
73%
Others
7%
Oil palm plantations
4%
Waste management &
utility
1%
Sugar & cane
6% Flour,feed & grain
milling
7%
Film
1%
Property
1%
segmental revenue contribution
Jan to June 2004
RM5.4 billion
Edible oils refining
16%
Others
6.7%
Oil palm
plantations
28%
Waste
management &
utility
0.3%
Sugar & cane
28%
Flour, feed & grain
milling
13%
Film
2%
Property
6%
operating profitscontribution
Jan to June 2004
RM281million
PBT for 5 years
369
409
322
501
707
332
0
100
200
300
400
500
600
700
800
RM
Mill
ion
1999 2000 2001 2002 2003 6 months
2004Year
18.3%
Average growth for 5 years
RM391m
RM250m
RM475m
RM84m
RM725m
RM564m
RM35m
RM674m
RM110m
RM709m
Net cash
position
Cash &
deposits
Total
borrowings
LT borrowings
ST borrowings
Dec-03 Jun-04
Cash and borrowings
Dividend
dividend recordDividend Net Payout ratio
per share dividend Company’s of Company’s
Gross Net paid earnings earnings
Year (sen) (sen) (RM million) (RM million) (%)
2004 10.0 8.6 50.977 66.788 76.3(based on enlarged capital)
2003 25.0 20.5 100.675 139.299 72.3
2002 46.5 43.0 210.968 216.231 97.6
2001 20.0 15.8 68.688 139.909 49.1
2000 20.0 15.8 58.139 117.128 49.6
1999 24.0 17.3 63.585 93.624 67.9
Share Information
0
50
100
150
200
250
300
350
2003 2004Jan to June
0
1
2
3
4
5
6
7
8
9
RM
Vo
lum
e/ d
ay
share information
RM4.78RM4.62RM3.86
RM8.05
RM6.15RM6.50
Average Daily Volume High Low Close
152,000 340,000
+41%
share performance
0
1
2
3
4
5
6
7
8
9
Sep Oct Nov Dec Jan Feb Mac Apr May Jun Jul Aug
PP
B S
ha
re P
rice
(R
M)
0
100
200
300
400
500
600
700
800
900
1000
Co
mp
osite
Ind
ex
PPB Close (Last Trade) KLCI Close (Last Trade)
Yr2003 Yr2004
RM5.30
RM6.40
+21%
733
828
+13%
Corporate Developments
major acquisitions and joint ventures
PPB completed the privatisation of FFM Berhadby way of a members’ scheme of arrangementunder Section 176 of the Cos. Act, 1965
offer was for 1 new PPB share plus cash ofRM2.00 for every 1 FFM share
additional 102,126,817 PPB shares werelisted on Bursa Malaysia on 25 August 2004
PPB’s share capital increased to RM592.7million
FFM became a wholly-owned subsidiary ofPPB
major acquisitionand joint ventures
On 9 June 2004, FFM Group expanded its wheat flour milling activity to Thailand through the acquisition of 43.35% interest in Kerry-Glory Flour Mills Co. Ltd for a total cash consideration of Baht 329,454,414 equivalent to RM30.7 million.
On 7 May 2004, PGEO Group entered into a JV with KOG Investments Pte Ltd, S’pore to construct and operate an edible oils and fats processing facility in Rotterdam, Netherland through KOG Edible Oils BV (KOGBV) at a total cost of Euro 27.7 million. PGEO Group subscribed for 35% interest in KOGBV for a total cash consideration of Euro 4.2 million.
Prospects for 2004
prospects for 2004
Group’s profitfor 2004 is likely
to match thatof year 2003
Thank You