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Public Expose December 2023
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Presentation Public Expose 2023
01 02 03 04 05
Company Update Strategies Corporate Financial
Overview 3Q2023 Action 2023 Highlights
Business Company Business Dividen Financial
Activity Growth Strength Treasury stock Report
Subsidiaries, 3Q2023 Result Strategies MTN Series
Business Update MM2100
Associated &
overview Update
JV Production
Financial
Highlights
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Company
01
Overview
2
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Company Overview
The Company was established in 1970 and began commercial production in 1975 as a pioneer of liquid milk
beverage products with UHT technology.
Quality aseptic packaging through partnerships with Tetra Pak Since 1975 and Combibloc Since 1998.
Listed on the Indonesia Stock Exchange since July 1990.
Largest manufacturer of UHT liquid milk in Indonesia
Market share of 34%¹ in UHT liquid milk products¹
Largest manufacturer of RTD tea in carton packs in Indonesia
Market share of 61%¹ in the ready to drink (" tea in carton pack segment¹
Notes 1. Based on Nielsen data, liquid milk market share by UHT volume and RTD tea market share by volume for the YTD period
of September 30, 2023
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Company Overview (continue)
Also manufactured either directly or through joint venture ("JV") and toll manufacturing entities:
sweetened condensed milk, health drinks, cheese, milk powder and juice
Partnerships / agreements with leading multinational companies including Unilever, Mondelez
International, and Sanghiang Perkasa
Vertically integrated and automated production processes
Best practices and strict quality control over the entire production chain
Extensive sales and distribution network throughout Indonesia
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Subsidiaries, Associated & JV
PT PRAWIRAWIDJAJA PRAKARSA
PT ULTRAJAYA MILK INDUSTRY
SABANA PRAWIRAWIDJAJA PUBLIC
(TREASURY STOCK)
49,5% 23,8% 0% 26,7%
PT ULTRAJAYA MILK INDUSTRY & TRADING COMPANY Tbk.
30% 70% 50% 69% 25% 85% 75%
PT KRAFT PT NIKOS PT ITO-EN PT ULTRA
PT ULTRA SUMATERA PT MENARA ULTRA PT TIRTA TALAGA
ULTRAJAYA DISTRIBUTION ULTRAJAYA PETERNAKAN
DAIRY FARM INDONESIA JAYA BANDUNG SELATAN
INDONESIA INDONESIA WHOLESALE
70% 30% 50% 31% 75% 15% 25%
ITO-EN KOPERASI
MONDELEZ ASIA PACIFIC PT KARYA PUTRAJAYA INDIVIDUAL
INDIVIDUAL INDIVIDUAL PETERNAKAN
INTERNATIONAL PERSADA
HOLDING BANDUNG SELATAN
data as of Sept 30th 2023
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Update
02
3Q2023
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Company Growth
CAGR (Compound Annual Growth Rate)
REVENUE EBITDA1 NET PROFIT
CAGR: 8,27% CAGR: 11,50% CAGR: 10,13%
in Trillion Rupiah
in Trillion Rupiah
1 EBITDA (Earning before interest, tax, depreciation, amortization)
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3Q2023 Result
SALES
EBITDA NET PROFIT
REVENUE
IDR6,118 bilion IDR1,317 bilion IDR951 bilion
EBITDA margin: 21.5% Net Profit margin: 16%
vs. LY +7.8%
vs. margin LY 22.1% vs. margin LY 15%
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Business Overview
Dairy Tea & Health Drink Others
#1 in the UHT liquid milk segment with #1 in the RTD tea in carton segment with 61% Manufacturing agreement for the
34% market share (as of Sept 30th 2023) market share (as of Sept 30th 2023) production of milk powder for PT
Offers a wide range of products with Offers a wide range of RTD tea products in Sanghiang Perkasa
various flavors and target consumers various packaging options: Manufacturing agreement for the
Ultra Milk maintains a natural source of Regular and Less Sugar Jasmine Boxed production of UHT fruit juice under the
nutrition, suitable for all ages Tea as the main tea beverages sold in Buavita brand for PT Unilever Indonesia
Low Fat Calcium Source for the young and boxed packs Tbk.
active Flavored Tea Box for UHT tea drinks with Export to several countries in Asia, Middle
Ultra Mimi for children market flavor variants East, Pacific Island, Nigeria, Australia and
Sweetened condensed milk under the Cap Many variety of UHT health drinks namely America
Sapi brand Sari Kacang Ijo, Sari Asem Jawa During the period ended September 30,
During the period ended September 30, During the period ended September 30, 2023, 2023, Other segment achieved sales of
2023, Dairy Products segment achieved the Tea and Health Drinks segment achieved IDR 372 million (6.0% of total revenue)
sales of IDR 4,543 million (74% of total sales of IDR 1,203 million (20% of total
revenue). revenue).
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Revenue (Sales) by Segment
Dairy (IDR bn, %) Tea and Health drinks (IDR bn, %) Other (IDR bn, %)
.
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Financial Highlights
Historically, our business has showed strong growth momentum and robust earning capability.
Sales & Growth (IDR Bn, %) Gross profit and margin (IDR bn, %)
EBITDA and margin (IDR bn, %) Net Profit and margin (IDR bn, %)
1 EBITDA (Earning before interest, tax, depreciation, amortization)
Sales in 3Q2023 increased by 7.8% compared to the same period last year; December 2022 had a price increment of 12%.
Gross Margin was slightly below 2022, but horizontally up
Optimism and caution going forward
Controlled costs and net profit is still strong 11
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COGS BREAKDOWN
COGS Breakdown (IDR bn) COGS Breakdown as % of Net Sales
As % of net sales 2021 2022 3Q22 3Q23
5.199 Direct Materials 53.8% 58.5% 57.8% 58.4%
Direct Labor 0.6% 0.6% 0.7% 0.7%
4.242 3.820 4.130 Depreciation 2.2% 1.7% 1.8% 1.7%
Electricity and
2.1% 2.0% 1.9% 1.8%
Energy
Repair and
1.9% 1.8% 1.8% 1.6%
2021 2022 3Q22 3Q23 Maintenance
Direct Materials Direct Labour Depreciation Salary and Wages 1.0% 0.8% 0.9% 0.9%
Electricity and Energy Repair and Maintenance Salary and wages Others 2.5% 2.4% 2.4% 2.5%
Others TOTAL . Other COGS
(excl direct 10.3% 9.4% 9.5% 9.1%
materials)
Majority of COGS comprise direct materials a.o raw milk, tea leaves,
Total COGS 64.1% 67.9% 67.3% 67.5%
sugar, milk powder and packaging
Controlled material price increases with improved volume of production
impact efficiency.
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Operating Expenses
Selling expenses breakdown (IDR bn , % of NS General and adm expenses breakdown (IDR bn , % of NS
3,2% 2,9% 3,2% 3,0%
210 224
184 186
2021 2022 3Q22 3Q23
. Salary & Wages Others Total
Operating Expenses are well controlled
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Operating Cash Flow
and Capital Expenditure (capex)
Operating Cash Flow (IDR bn) Capex (IDR bn))
• Cash flow from operating activities has historically been
. • Capital expenditure projects mostly as development
enough to cover the purchases of raw materials projects (DC, office, long-term factory expansion)
• Unutilized MTN funds are deposited at the best interest • USDF as a 69%-31% joint venture has to date been
rate fully financed from milk powder contribution and
• Dividend payments and MTN repayments can be shareholder loans
provided by cash flows
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Company
03
Strategies
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Business Strenghts
Strong
01 Industrial
Fundamentals
Highly Experienced
Management 08.
Team Market Leading
02 Position to Achieve
Growing supply of Sustainable Growth
high quality fresh 07.
milk
Presence in multiple
Categories and good
03 track record of Product
Extensive nation-wide
network distribution
06. Development
Strict quality control 05. 04 Vertically integrated
in all production and highly automated
chains production
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1. Strong Industrial Fundamentals
in 2023 has shown recovery in many aspects and industry fundamentals are strong. Indonesia has shown fast
and significant real GDP growth again. Furthermore, Indonesia has the largest population in Southeast Asia
and growing urbanization will drive consumer demand
Largest population in Southeast Asia-
Indonesia GDP Growth (World Bank) Population 2022 (million))
Urban Population Growth - % of total population
GDP growth per capita (2022, US$)
(Indonesia)
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1. Strong Industrial Fundamentals (continue)
Strong growth of the liquid milk segment of UHT (ultra-high temperature) milk
Produk Susu
Indonesia's annual per capita consumption is significantly lower than
other countries in Asia, but there is an upward trend from year to year,
which opens up market share for the liquid milk business.
source : Kompas 2021
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1. Strong Industrial Fundamentals (continue)
Strong growth of the liquid milk segment of UHT (ultra-high temperature) milk
Dairy Product
Market size Growth of Liquid Milk (IDR mio)
Key characteristics / trends
Urbanization and increasing disposable income strengthening drinking
milk demand
Health and wellness trend driving growth
Liquid milk outpacing powdered milk
Higher quality / perceived health benefits of liquid milk
Source: Nielsen
Substitution of powdered milk to RTD liquid milk
Market size Growth of Liquid Milk (Liter mio) UHT makes up the largest segment of liquid milk
Young adults are getting more accustomed to drinking milk compared to
their parents
Source: Nielsen
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1. Strong Industrial Fundamentals (continue)
Pasar minuman RTD Teh yang bertumbuh signifikan
RTD (Ready To Drink) Tea
Market size RTD Tea (IDR mio) Key characteristics / trends
Various packaging segments targeting different consumer
needs, e.g.
Cup – low end positioning
Carton – mainly for convenience, for home and school
consumption, as well as practical consumption.
PET – for convenience consumption
.
Source: Nielsen
Black tea is a product segment with strong growth in its
segment.
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2. Market Leading Position
to Achieve Sustainable Growth
Market leader in UHT milk and RTD tea in carton segment High quality and a healthy position allow us to achie
expected growth
Trusted brand among consumers with strong brand
equity
UHT volume market share RTD tea in CP volume market share
YTD 30 September 2023 YTD 30 September 2023
.
Source: Nielsen Source: Nielsen
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3. Presence in multiple Categories and
good track record of Product Development (continue)
.
Kantar
Youtube Most Chosen
Top 10 LeaderBoard Brand
Strongest Local 2020 2022
Brand 2018
RTD Flavoured
Milk WOW Brand Forbes
Most Supportive Best 50 Public
2017
Sponsor 2019 List Companies
2021
22
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3. Presence in multiple Categories and
good track record of Product Development (continue)
We have consistently introduced new product categories and have developed products for different consumer segments
to expand our product reach.
1971 1978 1982 1985 1987 1990
Peluncuran GO PUBLIC
Pendirian PT. Peluncuran Peluncuran Lisensi
Twin Cow, PT. Ultrajaya Milk
Ultrajaya Milk Buavita Teh Kotak, Kerjasama
Milo,Pripps Industry & Trading
Industry & Trading RTD Tea Kraft Cheese
& Lytren Company, Tbk
Company Pack
UHT
1958 1975 1981 1983 1985 1989 1991
Dimulai dari Peluncuran Ultra Peluncuran Peluncuran Peluncuran Sari Peluncuran
usaha Milk dan saat Teh Bunga Susu Sehat Peluncuran Corman Ultra Low Fat
Kacang Ijo
rumahan bersamaan, dan Gogo Butter,Ultra Butter,
Ultrajaya Pabrik Cola Pak and
UHT #1 di Sari Asem
Indonesia dan Asia
Tenggara
1995 2002 2007 2009 2014 2018 2018
Peluncuran Peluncuran Pendirian PT Peluncuran Pendirian PT
Peluncuran . Perjanjian
USDF ,peternakan
Teh Celup, Ultra Mimi UPBS. JV with Teh Kotak
Susu Sehat besar di Sumatera
Ginseng dan Peternakan ITOEN Lemon 300ml
Cocopandan milik UJ Japan
1994 2000 2006 2008 2014 2016 2018
Memproduksi Peluncuran Peluncuran Peluncuran Peluncuran
Perjanjian kerjasama 3rd Party
susu bubuk Teh Kotak Teh Kotak Ultra Sari Ultra Milk
JV PT Kraft Ultrajaya. dengan
dan kental rasa Less Sugar Kacang Ijo Taro dan
Dan Ultrajaya sebagai Unilever
manis 150ml Caramel
distributor produk produk
Kraft di Indonesia Buavita dan
Gogo
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3. Presence in multiple Categories and
good track record of Product Development (continue)
Ultra Sari Kacang Ijo 150 ml
edisi Upin & Ipin
(Oktober 2023)
Ultra Milk kemasan 750 ml
Variant Cokelat & Full Cream
(September 2023)
Rejuvenated Ultra Mimi Kids 125ml Ultra Milk kemasan 200 ml
TehKotak Jasmine kemasn 500 ml
Variant Cokelat, Stroberi, Vanilla & Full Re-Launch variant Moka
Dalam format kotak CB8
Cream (October 2023)
(September 2023)
(February 2023)
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4. Vertically integrated and highly
automated production
Proses produksi yang terotomatisasi dengan teknologi UHT dan sistem pembungkusan aseptik yang terintegrasi
Vertically integrated production
process across products
Highly automated production
process with minimum human
intervention
Utilizes state-of-the-art production
and aseptic packaging machinery
to ensure high quality standards
Efficient Automated Storage and
Retrieval System ("ASRS")
implemented in the warehouse
using Automated Guided Vehicles
("AGVs")
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5. Strict quality control in all production chains
We consistently produce high quality products by implementing strict monitoring
and quality control systems throughout our operations
1) Full traceability and tracking of our products
2) Quality checks at multiple stages
3) No product recall since establishment
4) FSSC 22000:2010 Certificate
5) No additives or chemicals added to products
Multiple stages of testing throughout our operations
Raw materials . Packaging and
delivery, Aseptic storage
UHT treatment warehouse
cooling and and packaging storage
storage
Inspection and testing of raw •Highly-automated –minimal •Testing of product samples •Products quarantined for
materials upon delivery human contact and packaging incubation and testing
•Products tested at multiple •Electronics tagging of products •Electronics tagging of products
stages of processing label label
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6. Extensive nation-wide network distribution
We cover sales nationwide through an extensive distribution network
87.500 65
22
13
POINTS OF SALE
DISTRIBUTOR OFFICIAL
14
SALES through Modern
OFFICE Trade by S STORE OVERSEAS
subsidiaries as Outer Island through E- distributors
in Java
well as traditional (third parties)
markets/retailers.
COMMERCE
outside Java
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7. Growing supply of high quality fresh milk
We maintain collaborative relationships with local dairy farmers to ensure a consistent supply of high quality fresh milk and aim to reduce
dependence on imported dairy products with fluctuating prices and exchange rates
Dairy Farmers Cooperatives majority of raw milk supply
We maintain long-term relationships with several local dairy
cooperatives to ensure a stable supply of high quality fresh milk.
We have a strong relationship with Koperasi Peternak Bandung - Secure, stable and long term supply
Selatan ("KPBS"), which is a cooperative of dairy farmers in the
Pangalengan area of West Java. - Access to high quality raw milk
We have a dedicated team to work with local farmers for training
and knowledge. - Cooperative arrangement
Our Model Dairy Farm South of Bandung
.
UPBS - a joint venture with KPBS to operate a model dairy farm
Currently has approximately 2,500 cows (young & mature dairy)
- Improved dairy farming methods
Exclusive supply to Ultrajaya Higher quality raw milk and higher output
- level
Managed by experienced professionals in dairy farm operations
We provide guidance, education, technical and managerial training Replication of best practice and
and financing programs for local farmers panduan, pendidikan, - improvement of product quality at large
pelatihan teknis dan manajerial serta program pembiayaan untuk scale
para peternak lokal
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7. Growing supply of high quality fresh milk
(continue)
Our farm in Berastagi, North Sumatera
● The dependence on the supply of fresh milk
- Control on supply and quality
● Climate favorable for dairy farming
● Utilizing expertise in the farming industry - Joint venture, shared investment
● Large scale farm with International quality cows
● We have a dedicated team to work with local farmers - Unlock potential of Sumatera
through training and knowledge
Inisiatif lainnya
.
Increase security of high quality fresh milk
Educate farmers on technique, hygiene, feed - availability
Smaller scale initiatives in South Bandung area (‘colony’ - Benefit for company and country
with cooperatives for up to 350 cows)
CSR with student contribution learning-working. We do not consider ourselves to be dairy
- farming company, focus remains on
manufacturing, branding and selling..
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8. Highly Experienced Management Team
Director
Sabana Prawirawidjaja Samudera Prawirawidjaja Jutianto Isnandar
Founder & President Director Director Director
• He is one of the founders of the Company. • Worked at Ultrajaya since 1974 as
Appointed as President Director of the • Over 25 years of experience with
Ultrajaya since 1989. Production Manager, Assistant Plant
Company since 1971 Manager, Sales & Distribution Manager and
• Serves as Commissioner of PT Kraft • Also serves as President Director of PT
Campina Ice Cream Industry, Director of currently serves as Director.
Ultrajaya Indonesia, President Commissioner • Previously worked at PT Indomilk Served
of PT NDI, President Commissioner of PT Ito PT Kraft Ultrajaya Indonesia, Director of
PT Ito En Ultrajaya Wholesale, and as President Commissioner of PT Campina
En Ultrajaya Wholesale, Commissioner of PT Ice Cream Industry
UPBS and President director of PT USDF. Commissioner of PT USDF.
Senior Manager
Flemming Schmidt
Bobby K. Gandasaputra Au Djamhoer Head of Engineering
Chief Operating Officer Head of Sales • Joined Ultrajaya in 1987, responsible for
• Join Ultrajaya in 2023 • Joined Ultrajaya in 2020. investment in new quipment.
• Previously served as CEO/President of PT • Previously held sales and marketing positions • Experienced in engineering and
Mulia Boga Raya, COO Matahari Mall, PT in multinational companies, namely Aqua equipment
Amcor and COO Matahari mall, MAP, and Danone and Coca Cola.
CFO PT Loreal Indonesia.Experienced in
management, supply chain and marketing.
Henry Khor Pahala Sihotang
General Manager Supply Chain Head of Finance & Accounting
• Joined Ultrajaya in 2008
• Joined Ultrajaya in 2001 Previously held
• Previously held various supply chain
finance positions at Jurong Engineering and
management positions at Toll Asia
PT. Carrefour Indonesia
Logistics and Cold Storage Chain.
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Strategi
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Strategies
Productivity Journey
01 02 03 04 05
Production Product Secure Continued
Distribution
Capacity Development Supply Investment
Further optimize our Further expand our Continued
distribution production and Continued focus on
Expansion of Dairy investment to
platform, ensuring warehousing new product
Farming operations improve
optimal capacity development
to secure supply operational
availability source efficiency
nationwide
Profitability Journey
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Strategies (continue)
Further optimize our distribution platform, ensuring optimal availability nationwide
01
Within Java
Outside Java
FOCUS: Increase penetration of modern and traditional
FOCUS: Support distributors expanding their reach
retail
PLANS:
PLANS:
Focus on distribution in Sumatra and Kalimantan
Expand the sales team on the ground
Help distributors secure financing to sell more of our
Continuously investing in training and in the quality of
products
sales force
Achieve IT connectivity with all of our distributors
Improve sales efficiency through investing in IT and
technology
Further optimize our distribution platform, ensuring optimal availability nationwide
02 New Distribution Center& Production Facility
Increasing Capacity
Optimize capacity in Bandung Distibution Center (DC) has started since 2021 in the
To optimize capacity at our existing production MM2100 industrial area
facility o Improve the efficiency of warehouse rental costs,
On-going investment in new packaging lines from smooth distribution and speed of marketing as well as
Tetra Pak and Combibloc long-term market expansion.
o Will be operational in Q1 of 2024
Production facility is expected to be operational in
Q4.2025 - Q1.2025 33
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BRAND CAMPAIGN
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Update warehouse & Factory MM2100
Area:
25,000 m2
Capacity:
36,940
Pallet position
System:
• ASRS
(Automated Storage &
Retrieval Systems)
• 15 levels Rack FG
• 14 Levels Rack RMPM
Location :
Jln. Irian XV, Blok RR
No.15-2, MM2100
Industrial Estate, Cibitung,
Factory West Java.
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Video warehouse – distribution centre
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Office & Production
Office & Factory : Cimareme - Bandung Barat, West Java
The addition of fresh milk receiving tanks
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Strategies (continue)
03 Continued focus on new product development
Joint Venture with Ito En New Product Development in the dairy segment
Combining Ito En's significant product advantages with
Continue to monitor the market for new
our presence and knowledge
opportunities for potential product launches
Explore opportunities in the Tea category
Flexible with opportunities Work towards developing and launching new
Cconsistently focused on products without artificial products
sweeteners
Outsource until volume is reached to invest in own Functional and value-added productsLaunch
factory products at the right time
Development of Tea in carton segment .
Monitoring preferences and identifying potential
opportunities
Introduce new flavors to further develop the category and
offer a wider product range, also to increase presence on
store shelves
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Strategies (continue)
04 Expansion of Dairy Farming operations to secure supply source
Dairy farm JV in Sumatra Model Farm in South Bandung
JV 69-31 with PT Karya Putrajaya Persada, Invest in feed cultivation (grass and corn) to
a local partnership relationship ensure quality feed at affordable prices
Own 3,400 dairy cows Own 2,500 dairy cows
International technology and equipment
>10 years of experience
05 Continued investment to improve operational efficiency
Production .
Increased investment in new equipment for production and packaging
Investment in new production facilities and distribution centers
Quality Control and Waste Management
Investment in new technologies to improve the efficiency and effectiveness of quality control procedures
Investment in waste treatment processes such as waste recycling programs and reducing waste
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Corporate Action
04
2023
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Corporate Action 2023
Withdrawal of Repurchased Shares
as Reduction of Capital Repayment of
Dividend distribution on
Ultrajaya's 2020
net income for fiscal year
•In 2020, the Company has repurchased 10% of the Medium Term Notes
2022
Company's outstanding shares or 1,155,352,800 shares (MTN)
as treasury shares.
• Rp 30,-/share •In accordance with the provisions of OJK Regulation •In compliance with the information
Number 30/POJK.04/2017 dated June 22, 2017 disclosure published on November
• Based on Deed of concerning Buyback of Public Company shares, it is 16, 2020, MTN series A, B, and C
Minutes of AGMS No. 02 were issued. The value of IDR
stated in articles 14, 15 and 16, that the Company must 3,000,000,000,000 and a period
dated June 19, 2023 from transfer the shares from the buyback within a maximum consisting of 1, 2 and 3 years
Notary Ari Hambawan period of 3 (three) years plus 2 (two) years and 1 (one) •To financing and conduct business
S.H. M.Kn year. development
•With the expiration of the 3-year period of the Company's •MTN debt and interest have been
control over the repurchased shares in 2023, the paid:
Company considers the good cash-flow and growth rate, o MTN Series A of
then the total redemption of the repurchased shares is 1,500,000,000,000 on November
conducted by reducing capital, thereby increasing 26, 2021 and
shareholder value and at the same time producing a more o MTN Series B of Rp.
efficient capital structure for the Company. 900,000,000 on November 17,
2022, and
•The Company's issued and fully paid-up capital becomes o MTN Series C of Rp.
10,398,175,200 shares or Rp519,908,760,000. 900,000,000 on November 17,
2023. 41
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Financial Report
05
Highlights
42
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(IDR million)
Income Statement
FY2021 FY2022 3Q2022 3Q2023
Revenue 6.616.642 7.656.252 5.678.134 6.118.340
COGS (4.241.696) (5.199.164) (3.819.593) (4.130.032)
Gross Profit 2.374.946 2.457.088 1.858.541 1.988.308
Selling expenses (748.823) (961.407) (606.986) (631.129)
General and administrative
expenses (209.888) (224.184) (184.453) (185.809)
Other expenses & Income 211.723 31.357 62.758 15.023
Total (746.988) (1.154.234) (728.681) (801.915)
Operating Profit 1.627.958 1.302.854 1.129.860 1.186.393
Finance Income 155.884 127.283 70.564 59.097
Finance Cost (235.275) (120.978) (97.325) (40.362)
Share in net profit (loss) of
associates & JV (6.635) (20.161) (8.508) 11.095
Total (86.026) (13.856) (35.269) 29.830
Profit before Income tax 1.541.932 1.288.998 1.094.591 1.216.223
Income tax (265.139) (323.512) (258.762) (265.114)
Profit after tax 1.276.793 965.486 835.829 951.109
Profit attributable to:
Owners of the parent entity 1.271.638 960.786 834.687 939.008
Non-controlling interest 5.155 4.700 1.142 12.101
EBITDA
43
1.807.537 1.458.327 1.255.857 1.317.934
Page 45
Balance Sheet
As of December 31st As of September 30th
(IDR million)
2021 2022 2021 2022
Current Assets
Cash 1.598.901 1.248.642 1.424.866 2.347.504
Trade receivables 626.006 617.192 671.761 735.196
Inventories 681.983 1.637.361 1.245.252 1.508.264
Others 1.937.931 1.115.195 2.044.551 165.406
Total Current Assets 4.844.821 4.618.390 5.386.430 4.756.370
Non Current Assets
Fixed assets 2.165.353 2.260.183 2.239.686 2.273.980
Investment in associates 120.289 100.128 111.781 111.223
Other non-current assets 276.393 397.674 313.176 573.200
Total Non Current Assets 2.562.035 2.757.985 2.664.643 2.958.403
TOTAL ASSETS
Current Liabilities
Trade and other payables 643.500 849.992 731.066 564.372
Short-term loans 1.339 1.449 1.420 1.536
Current portion of long term loans 16.380 7.138 8.599 4.762
Medium term notes loan 895.320 598.319 897.549 599.766
Total Current Liabilities 1.556.539 1.456.898 1.638.634 1.170.436
Non Current Liabilities
Long term debt 10.406 3.918 4.765 2.084
Medium term notes loan 598.319 0 599.766 0
Deffered tax 0 648 0 648
Others 103.466 92.232 96.226 97.036
Total Non Current Liabilities 712.191 96.798 700.757 99.768
Total Liabilities 2.268.730 1.553.696 2.339.391 1.270.204
Minority interest 90.950 83.944 80.955 81.227
Equity 5.047.176 5.738.735 5.630.727 6.363.342
44
TOTAL LIABILITIES AND EQUITY 7.406.856 7.376.375 8.051.073 7.714.773
Page 46
(IDR million) FY2021
Cash Flow
FY2022 3Q2022 3Q2023
Cash flow from (for) operations
Net cashflow from operating activities 1.739.876 631.938 603.839 999.552
Interest income 211.255 179.531 103.249 98.514
Interest expense (228.831) (116.298) (93.649) (38.915)
Income tax (331.696) (427.799) (316.747) (198.651)
Others - net 23.843 (7.526) 11.476 18.094
Net cash generated from operating
activities 1.414.447 259.846 308.168 878.594
Cash flow from (for) investing
Capital expenditure (252.085) (374.366) (231.508) (298.032)
Sale of government bonds 1.969.375 910.361 0 849.473
Others - net (692.968) 15.908 9.035 14.578
Net cash from (for) investing activities 1.024.322 551.903 (222.473) 566.019
Cash flow from (for) financing
Short-term loans (897) 109 81 88
MTN (1.500.000) (900.000) 0 0
Others - net (988.640) (262.117) (259.811) (345.839)
Net cash from (for) financing activities (2.489.537) (1.162.008) (259.730) (345.751)
Net increase (decrease) in cash (50.768) (350.259) (174.035) 1.098.862
Cash at the beginning of year/period 1.649.669 1.598.901 1.598.901 1.248.642
Cash at the end of year/period 1.598.901 1.248.642 1.424.866 2.347.504 45
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Disclaimer
These materials are not intended to be a public offering document under Law of the Republic of Indonesia No.8 of 1995 on Capital Markets and its
implementing regulations. Persons into whose possession these materials come are required to inform themselves about and to observe, any restrictions in
distributing these materials. These materials may not be used for the purpose of an offer or an invitation in any circumstances in which such offer or invitation
is not authorized.
This information does not constitute and is not an offer to sell or the solicitation of an offer to buy securities (the “Securities") of PT Ultrajaya Milk Industry &
Trading Company Tbk (the “Ultrajaya”) in the United States or elsewhere. Ultrajaya has not registered and does not intend to register the Securities under the
U.S. Securities Act of 1933, as amended (the “Securities Act”) and the Securities may not be offered or sold in the United States absent registration under the
Securities Act or pursuant to an exemption from, or in a transaction not subject to, registration. Ultrajaya does not intend to make any public offering of the
Securities in the United States or elsewhere.
This document includes forward-looking statements. These statements contain the words "anticipate", "believe", "intend", "estimate", "expect“, “plan” and
words of similar meaning. All statements other than statements of historical facts included in this document, including, without limitation, those regarding
Ultrajaya's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives
relating to Ultrajaya's business and services) are forward-looking statements. Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual results, performance or achievements of Ultrajaya to be materially different from results,
performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous
assumptions regarding Ultrajaya's present and future business strategies and the environment in which Ultrajaya will operate, and must be read together with
those assumptions. These forward-looking statements speak only as at the date of this document. Predictions, projections or forecasts of the economy or
economic trends of the markets are not necessarily indicative of the future or likely performance of Ultrajaya. Past performance is not necessarily indicative of
future performance. The future financial performance of Ultrajaya is not guaranteed. You are cautioned not to place undue reliance on these forward-looking
statements, which are based on the current views of Ultrajaya on future events. Ultrajaya expressly disclaims any obligation or undertaking to disseminate any
updates or revisions, except as required by law, to any forward-looking statements contained herein to reflect any change in Ultrajaya's expectations with
regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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