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ANALYST BRIEFING
FINANCIAL YEAR END 2015 RESULTS 23 FEBRUARY 2016
23/02/2016 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 4Q 2015 Page 2
Group Financial Highlights Review of Sales Performance Sugar Market Overview Q&A Session
01 02 03 04
AGENDA
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GROUP FINANCIAL HIGHLIGHTS
FOR THE FOURTH QUARTER 2015 RESULTS
LOGISTICS
SUGAR
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FINANCIAL RESULTS 4Q 2015
(RM mil) 4Q 2015 4Q 2014 Change
Revenue 664 628 5.73%
Expenses (567) (523) 8.41%
Profit Before Tax 97 105 (7.62%)
Profit for the Period 67 75 (10.67%)
EPS 9.49 sen 10.66 sen (10.98%)
Attributable to Shareholders - ROE - NTA RM/Share
3.27% 2.91
3.86% 2.77
(15.28%) 5.05%
23/02/2016 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 4Q 2015 Page 5
FINANCIAL RATIOS 4Q 2015
4Q 2015 4Q 2014 Change
Gross Profit
-RM mil 119 145 (17.93%)
-Margin 17.96% 23.09% (5.13%)
EBITDA
-RM mil 110 114 (3.51%)
-Margin 16.57% 18.15% (1.58%)
PBT
-RM mil 97 105 (7.62%)
-Margin 14.61% 16.72% (2.11%)
PAT
-RM mil 67 75 (1.33%)
-Margin 10.09% 11.94% (1.85%)
23/02/2016 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 4Q 2015 Page 6
LOGISTICS
SUGAR
GROUP FINANCIAL HIGHLIGHTS
FOR FINANCIAL YEAR ENDED 31 DEC 2015
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FINANCIAL RESULTS FY 2015
(RM mil) FY 2015 FY 2014 Change
Revenue 2,307 2,282 (1.10%)
Expenses (1,930) (1,937) (0.36%)
Profit Before Tax 378 344 9.88%
Profit for the Period 281 257 9.34%
EPS 39.94 sen 36.56 sen 9.24%
Attributable to Shareholders - ROE - NTA RM/Share
13.75% 2.91
13.22% 2.77
4.01% 5.05%
23/02/2016 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 4Q 2015 Page 8
FINANCIAL RATIOS FY 2015
FY 2015 FY 2014 Change
Gross Profit
-RM mil 489 467 4.71%
-Margin 21.20% 20.46% 0.74%
EBITDA
-RM mil 411 369 11.38%
-Margin 17.81% 16.17% 1.64%
PBT
-RM mil 378 344 9.88%
-Margin 16.38% 15.07% 1.31%
PAT
-RM mil 281 257 9.34%
-Margin 12.18% 11.26% 0.92%
23/02/2016 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 4Q 2015 Page 9
FINAL DIVIDEND FOR FINANCIAL YEAR 2015
The directors have agreed to declare final dividend payment as follows:
Dividend rate: 14 cents per share
on 702,980,000 ordinary shares
Net dividend: RM98.42 million
Date of payment: 20 June 2016
23/02/2016 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 4Q 2015 Page 10
REVIEW OF SALES PERFORMANCE
LOGISTICS
SUGAR
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SALES REVENUE FY 2015 vs FY 2014
996
1,213
980
735
294 322
0
200
400
600
800
1,000
1,200
1,400
FY 2015 FY 2014
RM mil Domestic Industries Export
44%
54%
13%
33%
14%
*TOTAL SALES RM 2,270 mil
43%
* Note: 1) Sales figure is AFTER consolidation adjustment 2) The sales figure excludes the sales of molasses
*TOTAL SALES RM 2,270 mil
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SALES VOLUME FY 2015 vs FY 2014
399
455 464
346
173 188
0
50
100
150
200
250
300
350
400
450
500
FY 2015 FY 2014
MT ‘000 Domestic Industries Export
38%
46%
17%
35%
19%
*TOTAL SALES 989,290 mt
45%
* Note: 1) Sales figure is AFTER consolidation adjustment 2) The sales figure excludes the sales of molasses
*TOTAL SALES 1,034,088mt
25/11/2015 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 3Q 2015 Page 13
LOGISTICS
SUGAR
SUGAR MARKET OVERVIEW 2015
25/11/2015 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 3Q 2015 Page 14
NY11 PRICE MOVEMENT (2015/16)
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WORLD SUGAR MARKET – HIGHLIGHTS
Kingsman Research has increased their deficit forecast to 5.26 mill MT compared to the last report of only 3 million MT, however, MSM Research has reworked the balance and maintain a lower figure at 2.2 MMT.
There is ample Argentinian and Centrals American Sugar in the first quarter amidst speculation that the price might weaken before the March16 expiry.
MSM Research estimated price to be in between 13 c/lb -14 c/lb until end of the year, heavily influenced by Macro and high stocks at destinations which could buffer the current deficits.
There is also a significant demand of white sugar into the Middle East and China, proven with a strong white premium at the moment.
Debt driven Brazilian sugar industry looks vulnerable, and we do not see this phenomenon to be solved in the short term, but the magnitude of the losses is still unstoppable.
25/11/2015 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 3Q 2015 Page 16
GLOBAL PRODUCTION & CONSUMPTION OF WORLD SUGAR
0
20
40
60
80
100
120
140
160
180
200
07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16
' m
illio
n M
T
Year
Production Consumption
25/11/2015 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 3Q 2015 Page 17
GLOBAL PRODUCTION & CONSUMPTION BALANCE
-15
-10
-5
0
5
10
15
07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16
7.9
-14.2
-4.8 -0.5
8.4 10.6
4.2 2.6
-2.2
'mill
ion
MT
25/11/2015 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 3Q 2015 Page 18
OTHER UPDATES “BRL / USD”
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MALAYSIA CONSUMPTION vs PRODUCTION
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2010 2011 2012 2013 2014 2015 Est
Production Consumption
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Q & A SESSION
LOGISTICS
SUGAR
Page 21
Thank You
23/02/2016 MSM MALAYSIA HOLDINGS BERHAD Analyst Briefing 4Q 2015