Update – 1 Quarter 2016

Update –
st
1
Quarter 2016
Disclaimer
This presentation is made to provide information. No representation or warranty is made as to
the fairness, accuracy, completeness or correctness of the information, opinions and conclusions
contained within this presentation. All information including business forward plans in this
presentation should not be considered as a recommendation in relation to holding purchasing or
selling shares in any jurisdiction. No copy or use of this presentation should occur without the
permission of PT INDUSTRI JAMU DAN FARMASI SIDO MUNCUL TBK.
INTRODUCTION
HIGHLIGHTS (IDR Bn)
Net Sales
Operating Income
% Margin
Net Income
Q1'16
Q1'15
Unaudited Unaudited
608
509
149
138
24.5%
27.2%
125
118
∆
19.4%
7.6%
-2.7%
6.3%
Total Assets
Total Liabilities
Total Equity
2,918
223
2,695
2,906
153
2,753
0.4%
45.3%
-2.1%
Woriking Capital
1,602
1,689
-5.1%
8.4
99
12.4
85
-4.0
13.2
Current Ratio
Cash Conversion Cycle
MILESTONES
The company initially was a domestic herbal
medicine industry managed by Mrs. Rahmat
Sulistio in Yogyakarta.
The limited partnership was formed
under the name CV Industri Jamu &
Farmasi Sido Muncul.
The production process was moved to
Semarang, and an unpretentious company
was founded with the name SIDO MUNCUL
which means “a dream come true” with its
first factory located in Jl. Mlaten Trenggulun,
Semarang.
1940
1951
The factory was moved to Lingkungan
Industri Kecil Semarang. The plant began
to be equipped with modern machinery.
Establishment of herbal medicine
industry turned into a Limited Company
under the name of PT Industri Jamu dan
Farmasi Sido Muncul.
1970
1975
The new factory is located in Klepu, sub
Bergas, Ungaran with an area of about 30
hectares..
Cornerstone-laying was held for the
construction of a new, bigger and more
modern factory in Klepu, Ungaran by Sri
Sultan Hamengkubuwono X and witnessed by
Director General of Food and Drug
Administration.
1984
1997
PT Berlico Mulia Farma joined the Sido
Muncul Group, expanding Sido Muncul’s
business in pharmaceutical industry.
Sido Muncul conducted initial public
offering of 1,500,000,000 shares with
the issue price of Rp 580.- per share.
2000
2013
The expansion of extraction plant
of PT Semarang Herbal Indo Plant
was completed
and fully
operational.
2014
2015
KEY ACHIVEMENTS
GOLD CHAMPION – INDONESIA WOW BRAND 2015
COMMON GOLD – BEST BRAND AWARD
NUSANTARA CSR AWARD – LA TOFFI SCHOOL OF CSR
CORPORATE IMAGE AWARD 2015
BUSINESS OVERVIEW
PRODUCT PORTFOLIO
HERBAL
&
SUPPLEMENT
FOOD
&
BEVERAGES
PHARMACEUTICAL
DISTRIBUTION NETWORK
PT Muncul Mekar has 115 distributors
throughout Indonesia and also expands its
cooperation with several national modern
outlets and pharmaceutical wholesalers
Traditional
Trade
Modern
Outlet
Medical
Channel/Distributor
Medan
West
Central
East
Tarakan
Manado
Batam
Padang
Wholesaler, Supermarket, Retail
Pontianak
Gorontalo
Samarinda
Palu
Bengkulu
Banjarmasin
Ambon
Kendari
Jayapura
Nabire
Timika
Makassar
Bandar Lampung
TangerangJakarta
Madura
PurwakartaCilacap Yogyakarta Bali Lombok
Solo
Sumbawa
Cilacap JombangSurabaya
Customers
Biak
Sorong
Manokwari
Jambi Bangka
Belitung Ketapang
Palembang
Tobelo
Ternate
Merauke
Atambua
Kupang
PLANT EXPANSION
PT SEMARANG HERBAL INDO PLANT
The expansion of new extraction
plant was finished. The new plant
increases the herbs extraction
capacity up to three times from
current capacity, 4,500 kg/day to
13,500 kg/day.
PLANT EXPANSION
SIDO MUNCUL
The new production facilities of
liquid herbal medicine is expected to
be completed by 2017. The new
facilities
will
increase
the
production capacity twice from
current capacity
FINANCIAL OVERVIEW
SALES (IDR Bn)
Consolidated
+19.4%
SALES MIX
20.1
509.4
Herbal &
Supplement
57.9%
Pharmacies
3.3%
608.2
21.3
Pharmacies
-5.6% (YoY)
236.0
Food & Beverages
+11.7% (YoY)
211.3
Food &
Beverage
38.8%
352.1
276.8
Q1'15
(Unaudited)
Q1'16
(Unaudited)
Herbal & Supplement
+27.2% (YoY)
OPERATING PERFORMANCE (IDR Bn)
GROSS PROFIT
194.6
Consolidated
+24.2%
38.2%
241.7
OPERATING INCOME
39.7%
Consolidated
+7.6%
148.9
138.4
Q1'15
(Unaudited)
Gross Profit
Q1'16
(Unaudited)
Gross Profit Margin
OPERATING EXPENSES TO SALES
27.2%
24.5%
4.2%
4.4%
11.1%
6.6%
Q1'15
(Unaudited)
Selling & Marketing
Q1'16
(Unaudited)
General & Administrative
Q1'15
(Unaudited)
Operating Income
Q1'16
(Unaudited)
Operating Margin
NET EARNINGS (IDR Bn)
EBITDA MARGIN
NET INCOME
Consolidated
+6.3%
118.0
30.6%
125.4
27.5%
Q1'15
(Unaudited)
Q1'16
(Unaudited)
DIVIDEND
23.2%
20.6%
27
24
25
85%
84%
2014
2015
99%
Q1'15
(Unaudited)
Net Income
Q1'16
(Unaudited)
Net Profit Margin
2013
Dividend per Share
% Payout
FINANCIAL POSITION (IDR Bn)
DEBT POSITION
ASSETS & EQUITY
2,955
2,918
2,821
2,796
2,695
2,614
2,625
0.0
0.0
0.0
0.0
2013
(Audited)
2014
(Audited)
2015
(Audited)
Q1'16
(Unaudited)
CASH CONVERSION
2,598
99
2013
(Audited)
2014
(Audited)
Assets
2015
(Audited)
79
78
2013
(Audited)
2014
(Audited)
86
Q1'16
(Unaudited)
Equity
2015
(Audited)
Q1'16
(Unaudited)
REMAINING IPO PROCEEDS (IDR Bn)
10.54
226.82
48.20
168.08
Sido Muncul
Muncul Mekar
Information
Technology
Total 2016/2017
Main Office:
Gedung Menara Suara Merdeka Lantai 16
Jl Pandanaran No.30
Semarang 50134, Indonesia
Phone: (+6224) 7692-8811
Fax: (+6224) 7692-8815
Factory:
Jl Soekarno Hatta km 28
Kecamatan Bergas, Klepu
Semarang 50552, Indonesia
Phone: (+62298) 523-515
Fax: (+62298) 523-509
Website : www.sidomuncul.com
APPENDICES
SIDO STRUCTURE
KELUARGA
HIDAYAT
81,00%
99,99%
MASYARAKAT
17,61%
TREASURI
1,39%
99,99%
99,99%
CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION
in IDR Mn
Current Assets
Cash and Cash Equivalents
Time Deposits
Trade Receivables
Inventories - Net
Others
Total Current Assets
Total Non-current Assets
TOTAL ASSETS
Q1'16
Unaudited
2015
Audited
813,407
190,000
400,469
327,496
88,368
1,819,740
1,098,373
2,918,113
836,975
190,000
335,600
264,982
79,882
1,707,439
1,088,672
2,796,111
∆
-2.8%
0.0%
19.3%
23.6%
10.6%
6.6%
0.9%
4.4%
CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION
in IDR Mn
Trade Payables
Other Payables
Taxes Payable
Accrued Expenses
Others
Total Current Liabilities
Total Non-current Liabilites
TOTAL LIABILITIES
EQUITY
Equity Attributable to Owners of the Parent Entity
Non-controlling Interest
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY
Q1'16
Unaudited
167,421
5,869
34,148
8,312
1,632
217,382
5,449
222,831
2015
Audited
147,753
10,532
21,475
3,297
1,003
184,060
13,737
197,797
13.3%
-44.3%
59.0%
152.1%
62.7%
18.1%
-60.3%
12.7%
2,695,275
7
2,695,282
2,918,113
2,598,307
7
2,598,314
2,796,111
3.7%
0.0%
3.7%
4.4%
∆
CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
in IDR Mn
Sales
Cost of Good Sold
Gross Profit
% Margin
Sales and Marketing Expenses
General and Administrative Expenses
Operating Income
% Margin
Other Finance Income
Other Finance Expenses
Other Operating Income
Other Operating Expenses
Income Before Tax
% Margin
Income Tax Expenses
Net Income for the Year
% Margin
Other Comprehensive Income (Loss)
Total Comprehensive Income for the Year
% Margin
Q1'16
Q1'15
Unaudited
Unaudited
608,243
509,417
366,568
314,799
241,675
194,618
39.7%
38.2%
67,423
33,610
25,385
22,609
148,867
138,399
24.5%
27.2%
14,100
15,037
680
284
1,319
2,263
419
1,273
163,187
154,142
26.8%
30.3%
37,777
36,116
125,410
118,026
20.6%
23.2%
125,410
20.6%
118,026
23.2%
∆
19.4%
16.4%
24.2%
1.5%
100.6%
12.3%
7.6%
-2.7%
-6.2%
139.4%
-41.7%
-67.1%
5.9%
-3.4%
4.6%
6.3%
-2.6%
0.0%
6.3%
-2.6%
CONSOLIDATED STATEMENTS OF
CASH FLOWS
in IDR Mn
Cash Flows From Operating Activities
Cash Flows From Investing Activities
Cash Flows From Financing Activities
Net Increase (Decrease) in Cash and Cash Equivalents
Effect of Changes in Foreign Exchange Rate
Cash and Cash Equivalents At the Beginning of the Year
Cash and Cash Equivalents At the End of the Year
Q1'16
Q1'15
Unaudited Unaudited
32,339
131,872
(27,390)
(94,527)
(28,442)
(23,493)
37,345
(75)
486
836,975
864,791
813,407
902,622