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Page 1
Public Expose
PT Ultrajaya Milk Industry & Trading Company Tbk
20 December 2024
Page 2
Presentation Public Expose
2024
Company Overview
01 Profile & Business Activity
Subsidiaries, Associated & JV Corporate Action 2024
04
Dividen Distribution
Update 3Q2024
National overview & Company Growth
02
3Q2024 Result
Business overview
Financial Report
Financial Highlights
05 Highlights
Company Strategies
03 Business Strength
Strategies
Update MM2100
Update Production
Page 3
01
Company
Overview
www.ultrajaya.co.id
Page 4
Company Business Overview
The Company was Quality aseptic packaging Largest manufacturer of UHT
established in 1970 and through partnerships with liquid milk in Indonesia
began commercial Tetra Pak Since 1975 and Market share of 36,5%¹
production in 1975 as a Combibloc Since 1998
pioneer of liquid milk Largest manufacturer of RTD
beverage products with UHT tea in carton packs in
technology Indonesia
Listed on the Indonesia Market share of 60,8%¹
Stock Exchange since July
1990
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, 2024
Page 5
Company Business Overview
Also manufactured either directly or
Vertically integrated and
through joint venture ("JV") and toll Extensive sales and
automated production
manufacturing entities: sweetened distribution network
processes
condensed milk, health drinks, throughout Indonesia and
cheese, milk powder and juice. overseas
Best practices and strict
quality control over the
Partnerships / agreements with leading
entire production chain
multinational companies including
Unilever, Mondelez International, and
Sanghiang Perkasa
Page 6
Subsidiaries, Associated & JV
PT PRAWIRAWIDJAJA PRAKARSA PUBLIK
PUBLIC SABANA PRAWIRAWIDJAJA
23,8% 26,4% 49,8%
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
PT MENARA ULTRA PT TIRTA TALAGA PETERNAKAN
ULTRAJAYA DISTRIBUTION ULTRAJAYA SUMATERA
INDONESIA JAYA BANDUNG SELATAN
INDONESIA INDONESIA WHOLESALE DAIRY FARM
70% 30% 50% 31% 75% 15% 25%
ITO-EN KOPERASI
PT KARYA PETERNAKAN
MONDELEZ ASIA PACIFIC INDIVIDUAL
INDIVIDUAL PUTRAJAYA INDIVIDUAL BANDUNG
INTERNATIONAL
HOLDING PERSADA SELATAN
data as of 30 November 2024
Page 7
02
Update
3Q2024
Page 8
National Economic Overview
Page 9
Company Growth
CAGR (Compound Annual Growth Rate)
REVENUE NET PROFIT EBITDA1
CAGR: 8,28% CAGR: 12,37% CAGR: 10,32%
8,30
7,66 NET PROFIT EBITDA
1,81
6,62 1,65
6,22 1,55
5,97 1,42 1,46
5,47
1,28
4,69 4,88 1,19
4,39 1,11 1,11
3,92 1,04 1,04 1,04
0,97
3,46
0,83
0,71 0,72 0,70
0,56 0,51 0,52
0,33 0,28
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
in Trillion Rupiah
in Trillion Rupiah
1 EBITDA (Earning before interest, tax, depreciation, amortization)
Page 10
Result of 3Q2024
IDR 6,582 trillion
SALES REVENUE vs. LY 6,118 trillion
+ 7.6%
IDR 893 billion
vs. LY 951 billion
NET PROFIT
LY - 6.1 %
IDR 1,230 trilion
EBITDA1 vs. LY 1,318 trili0n
LY - 6.6 %
1 EBITDA (Earning before interest, tax, depreciation, amortization)
Page 11
Business Overview
Dairy 77% Tea & Health Others
of total Sales
Drink 17% 6%
of total Sales
of total Sales
#1 in the UHT liquid milk segment with Manufacturing agreement
36,5 % market share (as of Sept 30th for the production of milk
2024) #1 in the RTD tea in carton segment powder for PT Sanghiang
Offers a wide range of products with with 61,8% market share (as of Sept Perkasa
various flavors and target consumers 30th 2024) Manufacturing agreement
Ultra Milk maintains a natural Offers a wide range of RTD tea products for the production of UHT
source of nutrition, suitable for all in various packaging options: fruit juice under the Buavita
ages Regular and Less Sugar Jasmine brand for PT Unilever
Low Fat Calcium Source for the Boxed Tea as the main tea Indonesia Tbk.
young and active beverages sold in boxed packs Export to several countries in
Ultra Mimi for children market Flavored Tea Box for UHT tea drinks Asia, Middle East, Pacific
with flavor variants Island, Nigeria, Australia and
Sweetened condensed milk under America
the Cap Sapi brand Many variety of UHT health drinks
namely Sari Kacang Ijo, Sari Asem Jawa During the period ended
During the period ended September September 30, 2024, Other
30, 2024, Dairy Products segment During the period ended September 30,
2024, the Tea and Health Drinks segment achieved sales of
achieved sales of IDR 5.037 trillion IDR 393 billion (6.0% of total
(77% of total revenue). segment achieved sales of IDR 1.153
trillion (17% of total revenue). revenue)
Page 12
Revenue (Sales) by Segment
Dairy (IDR bn, %) Tea and Health drinks (IDR bn, %) Other (IDR bn, %)
9,9% 12,4% -15,1%
10,5% -4,2%
10,0%
1.625 578
5.632 6.187 1.446 491
4.556 5.037 1.204 1.153 358 393
2022 2023 3Q23 3Q24 2022 2023 3Q23 3Q24 2022 2023 3Q23 3Q24
TOTAL SALES FY 2022 TOTAL SALES FY 2023 TOTAL SALES 3Q2023 TOTAL SALES 3Q2024
.
Others; 8% Others; 6% Others; 6% Others; 6%
Tea and Health Tea and Health Tea and Health
Tea and Health drinks;
drinks; 19% drinks; 20% drinks; 18%
20%
Dairy; 74%
Dairy; 75% Dairy; 74%
Dairy; 77%
Page 13
Financial Highlights
Sales & Growth (IDR Bn, % of Sales) Gross profit (IDR bn, % of Sales)
8,4%
7,6% 32,1% 32,4%
32,5% 33,8%
7.656 8.303
6.118 6.583 2.457 2.692 2.224
1.988
2022 2023 3Q23 3Q24
2022 2023 3Q23 3Q24
EBITDA ¹ Net Profit
(IDR Bn, % of Sales) (IDR Bn, % Sales)
19,0% 19,8% 14,3%
21,5% 18,7% 12,6% 15,5% 13,6%
1.458 1.648 1.318 1.231 1.186
965 951 893
2022 2023 3Q23 3Q24 2022 2023 3Q23 3Q24
1 EBITDA (Earning before interest, tax, depreciation, amortization)
Historically, our business has showed strong growth momentum and robust earning capability
Page 14
COST OF GOODS SOLD (COGS)
BREAKDOWN
COGS Breakdown COGS Breakdown as % of Net Sales
(IDR Bn)
As % of net sales 2022 2023 3Q23 3Q24
Direct Materials 61,0% 58,1% 57,0% 57,6%
5.199 5.611 Direct Labour 0,8% 0,8% 0,8% 0,8%
4.358
4.130 Depreciation 1,8% 1,6% 1,6% 1,3%
Electricity and Energy 2,1% 1,7% 1,7% 1,7%
4.671 4.822 3.789
3.486 Repair and
Maintenance 1,9% 1,8% 1,6% 1,7%
2022 2023 3Q23 3Q24 Salary and wages 0,7% 0,7% 0,7% 0,7%
Direct Materials Direct Labour Depreciation Others 0,7% 0,6% 0,6% 0,6%
Electricity and Energy Repair and Maintenance Salary and wages Other COGS 6,9% 9,5% 10,5% 8,7%
Others Total
Total COGS 67,9% 67,6% 67,5% 66,2%
Controlled material price increases with improved volume of production impact efficiency.
Page 15
Operating Expenses
Selling expenses breakdown General and adm expenses breakdown
(IDR bn , % of Sales) (IDR bn , % of Sales)
2,9% 3,0%
12,6% 11,8% 3,0%
12,9% 3,0%
10,3%
253
961 983 224
848 186 199
631
2022 2023 3Q23 3Q24 2022 2023 3Q23 3Q24
.
Advertising and promotion Freight-out Others Total %
Salary & Wages Others Total %
Operating Expenses are well controlled
Page 16
Operating Cash Flow
and Capital Expenditure (capex)
Operating Cash Flow (IDR bn) Capex (IDR bn)
1.400 374 392 351
1.044 303
881
260
2022 2023 3Q23 3Q24 2022 2023 3Q23 3Q24
Capital expenditure projects as development projects
Cash flow from operating activities has been enough to (DC & Factory) in MM2100, maintenance, and
cover the purchases of raw materials efficiency of the main Factory
Page 17
03
Company
Strategies
Page 18
Business Strenghts
Highly Experienced Management
8 1 Strong Industrial
Team Fundamentals
Growing supply of high quality
7 2 Market Leading Position
to Achieve Sustainable
fresh milk
Growth
6 3 Presence in multiple
Categories and good
Extensive nation-wide network
distribution track record of Product
Development
5 4 Vertically integrated and
Strict quality control in all highly automated
production chains production
Page 19
1. Strong Industrial Fundamentals
in 2024 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 2023 (million)
5,31% 277,53
5,17% 5,02% 5,05% 4,95%
% growth
3,70%
117,34
98,86
71,80
34,31
100,7% 101,5% 100,7% 100,1% 101,1% 5,92 105,0%
2018 2019 2020 2021 2022 2023 3Q2024
Indonesia Philippines Viet Nam Thailand Malaysia Singapore
-2,07%
GDP growth per capita (2023, US$) Urban Population Growth - % of total population (Indonesia)
67,10%
11.649 55,33% 55,99% 56,64% 57,29% 57,93% 58,57%
7.172
4.941 4.347 3.726
Malaysia Thailand Indonesia Viet Nam Philippines 2018 2019 2020 2021 2022 2023 2024est
Singapore 84.734
Page 20
1.Fundamental Industri
Strong Industrial yang kuat
Fundamentals
Produk Susu
Konsumsi susu per kapita tahunan (kg/tahun)
Non Asia (2022) Asia (2022)
Denmark 395,7 India 81,8
Ireland 310,2 Indonesia's annual per capita consumption is still
Hong Kong 65,8
Switzerland 305,7 lower than other countries in Asia, but there is a
Japan 62,2
Netherlands 269,2 trend of increase year by year, especially with
Taiwan 58,0
Finland 257,5 the government's Free Nutritious Meals
Sri Lanka 46,7
United States 230,3 program, with liquid milk as one of its
Sweden 214,8 Malaysia 42,5 components, which will boost national milk
Australia 213,2 Vietnam 37,2 consumption.
United Kingdom 211,0 China 32,3
Germany 210,2 15,30 16,27 16,90
South Korea 31,4 14,30 14,70 14,80
Russia 152,5
Philippines 29,3
United Arab Emirates 130,8
Thailand 28,8
New Zealand 127,1
Saudi Arabia 62,7 Indonesia 16,3 2018 2019 2020 2021 2022 2023
Egypt 53,1 Cambodia 8,3
source : https://worldpopulationreview.com/country-rankings/milk-consumption-by-country
Source: https://indonesia.go.id/
Strong growth of the liquid milk segment of UHT (ultra-high temperature) milk
Page 21
1.1.Fundamental
Strong IndustrialIndustri yang kuat
Fundamentals
Market size of Milk UHT (mio liters)
Key characteristics / trends
2,0% 7,3% Dairy
9,4%
Product Urbanization and increasing disposable income
strengthening drinking milk demand
402.871
432.084 Health and wellness trend driving growth
361.150 395.131
Liquid milk outpacing powdered milk
Higher quality / perceived health benefits of liquid milk
Substitution of powdered milk to RTD liquid milk
3Q2021 3Q2022 3Q2023 3Q2024 UHT makes up the largest segment of liquid milk
Source: Nielsen
Young adults are getting more accustomed to drinking
milk compared to their parents
Strong growth of the liquid milk segment of UHT (ultra-
high temperature) milk
Page 22
1.1.Fundamental Industri
Fundamental Industri yangyang
kuat kuat
Market size of RTD Teh (in Mio liters)
RTD (Ready
To Drink) Tea Key characteristics / trends
9%
13% Drinking tea has been considered a healthy habit since early
times.
67.203
75.758 82.867 81.002 Various packaging segments such as Carton Pack, Cups,
PET, Bottles to cater to different consumer needs and
practicality in consumption.
3Q2021 3Q2022 3Q2023 3Q2024
Tea with fruit flavor variants is an option whose unique
Source: Nielsen
. flavor increases market share.
RTD Tea beverage market in carton packs
-2% that is also
growing
Page 23
2. Market Leading Position
to Achieve Sustainable Growth
Market leader in UHT milk and RTD tea in carton High quality and a healthy position allow us to
segment achieve expected growth
UHT volume market share TEA RTD in CP volume market share
YTD 30 September 2024 YTD 30 September 2024
GREENFIELDS OTHERS S-Tee Yeos
12% Others
3% 3% 1%
Fruit Tea 0%
MILO 3%
3% ULTRAMILK
36%
CIMORY
8% .
Teh Botol Teh Kotak
31% 62%
MILKU
10%
INDOMILK
12% FRISIAN FLAG
16%
Source: Nielsen
Page 24
3. Presence in multiple Categories and
good track record of Product
Development
.
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
Page 25
3.Hadir
3. Presence in Satu
lebih dari multiple Categories
Kategori dan catatanand
jejak yang
baikgood
dalam track record of
Pengembangan Product
Produk
Development
Page 26
3. Presence in multiple Categories and
good track record of Product
Development
TEHKOTAK 300ML
ULTRA MILK 750ML Tehkotak Rasa Mango Ultramilk LFHC
Without 50% EXTRA
(January 2024) MOCCA & STRAWBERRY & Lychee Plain & Chocolate
(June 2024) (June 2024) New pack
(July 2024)
ULTRA CORE
Tehkotak Ultra Milk x
Jasmine 1000ml ULTRAMAN
Special edition
& Tehkotak Less Introduce the 1st
Sugar 750ml packaging Local Organic Milk
Exclusive Indomaret
(Juli 2024) (November 2024)
(November 2024)
Page 27
4. Vertically integrated and highly
automated production
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")
Proses produksi yang terotomatisasi dengan teknologi UHT dan sistem pembungkusan aseptik yang terintegrasi
Page 28
5. Strict quality control in all
production chains
Multiple stages of testing throughout our operations
Raw materials
delivery, . Packaging and
cooling and Aseptic storage warehouse
storage UHT treatment and packaging storage
Inspection and testing of raw •Highly-automated –minimal human contact •Testing of product samples and packaging •Products quarantined for incubation and testing
materials upon delivery •Products tested at multiple stages of processing •Electronics tagging of products label •Electronics tagging of products label
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
Page 29
6. Extensive nation-wide network
distribution
GENERAL TRADE OUTER ISLAND MODERN TRADE
• 48,9% • 33,1% • 13,4%
Data per 31 September 2024
EXPORT THIRD PARTIES (4,5%)
(0,1%) • Unilever
• Sanghyang Perkasa
87.500
POINTS OF SALE 65 9
25 DISTRIBUTORS OFFICIAL 14
through Modern
SALES OFFICE Trade by Outer Island (third STORE OVERSEAS
subsidiaries as parties) outside through E- distributors
in Java
well as traditional Java COMMERCE
markets/retailers.
2024 New : Sales Office at Kebumen, Lamongan, Garut
We cover sales nationwide through an extensive distribution network
Page 30
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. - Secure, stable and long term supply
We have a strong relationship with Koperasi Peternak Bandung
Selatan ("KPBS"), which is a cooperative of dairy farmers in the - Access to high quality raw milk
Pangalengan area of West Java.
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
- Improved dairy farming methods
Currently has approximately 2,500 cows (young & mature dairy)
Exclusive supply to Ultrajaya
- Higher quality raw milk and higher output lev
Managed by experienced professionals in dairy farm operations
We provide guidance, education, technical and managerial training and - Replication of best practice and
financing programs for local farmers panduan, pendidikan, pelatihan improvement of product quality at large scale
teknis dan manajerial serta program pembiayaan untuk para peternak
lokal
Page 31
7. Growing supply of high quality fresh milk
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
.
Other initiatives
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..
Page 32
8. Highly Experienced Management Team
Director
Sabana Prawirawidjaja Samudera Prawirawidjaja Jutianto Isnandar
Founder & President Director Director Director
• Over 25 years of experience with
• He is one of the founders of the Company. • Worked at Ultrajaya since 1974 as
Ultrajaya since 1989.
Appointed as President Director of the Production Manager, Assistant Plant
• Also serves as President Director of PT
Company since 1971 Manager, Sales & Distribution Manager and
Campina Ice Cream Industry, Director of
• Serves as Commissioner of PT Kraft currently serves as Director.
PT Kraft Ultrajaya Indonesia, Director of
Ultrajaya Indonesia, President Commissioner • Previously worked at PT Indomilk Served
PT Ito En Ultrajaya Wholesale, and
of PT NDI, President Commissioner of PT Ito as President Commissioner of PT Campina
Commissioner of PT USDF.
En Ultrajaya Wholesale, Commissioner of PT Ice Cream Industry
• Wholesale, dan Komisaris di PT USDF
Senior Manager
Bobby K. Gandasaputra Flemming Schmidt
Chief Operating Officer Au Djamhoer Head of Engineering
• Join Ultrajaya in 2023 Head of Sales • Joined Ultrajaya in 1987, responsible for
• Previously served as CEO/President of PT investment in new quipment.
Mulia Boga Raya, COO Matahari Mall, PT • Joined Ultrajaya in 2020. • Experienced in engineering and
Amcor and COO Matahari mall, MAP, and • Previously held sales and marketing positions equipment
CFO PT Loreal Indonesia.Experienced in in multinational companies, namely Aqua
management, supply chain and marketing Danone and Coca Cola.
• Coca Cola
Henry Khor Pahala Sihotang
General Manager Supply Chain Head of Finance & Accounting
• Joined Ultrajaya in 2008 • Joined Ultrajaya in 2001
• Previously held various supply chain • Previously held finance positions at Jurong
management positions at Toll Asia Engineering and PT. Carrefour Indonesia
Logistics and Cold Storage Chain.
Page 33
Strategies
Productivity
Journey
01 02 03 04 05
Production Product Secure Continued
Distribution
Capacity Development Supply Investment
Further optimize Further expand Continued focus on Expansion of Dairy Continued investment
our distribution our production and new product Farming operations to improve
platform, ensuring warehousing development to secure supply operational efficiency
optimal capacity source
availability
nationwide
Profitability
Journey
Page 34
Strategies
Optimizing our distribution platform,
01 ensuring optimal availability nationwide
Within Java: Outside Java:
FOCUS: Increase penetration of modern and traditional retail FOCUS: Support distributors expanding their reach
PLANS: PLANS:
Expand the sales team on the ground • Focus on distribution in Sumatra and Kalimantan
Continuously investing in training and in the quality of sales • Help distributors secure financing to sell more of our
force products
Improve sales efficiency through investing in IT and • Achieve IT connectivity with all of our distributors
technology
02 Improve production and warehouse capacity
New Distribution Center& Production Facility
Increasing Capacity
• Distibution Center (DC) has started since 2021 in the
MM2100 industrial area • Optimize capacity in Bandung
• Improve the efficiency of warehouse rental costs, smooth • To optimize capacity at our existing production
distribution and speed of marketing as well as long-term facility
market expansion. • On-going investment in new packaging lines from
• Distribution Center will be fully operational in Q4.2024 - Tetra Pak and Combibloc
Q1.2025
• Production Facility targeted to be operational by Q3.2025
Page 35
Strategies
Strategi - strategi
03 Continued focus on new product development
Perusahaan Patungan (Joint Venture) dengan Ito En
New Product Development in the dairy segment
Joint Venture with Ito En
Continue to monitor the market for new opportunities for
Combining Ito En's significant product advantages with our potential product launches
presence and knowledge
Work towards developing and launching new products
Explore opportunities in the Tea category
Flexible with opportunities Functional and value-added productsLaunch products at
the right time
Cconsistently focused on products without artificial sweeteners
Outsource until volume is reached to invest in own factory
.
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
Page 36
Strategies
Expansion of Dairy Farming operations to secure supply source
04
Dairy farm JV in Sumatra Model Farm in South Bandung
JV 69%-31% with PT Karya Putrajaya Persada, a local
Berinvestasi dalam budidaya pakan(rumput dan jagung) untuk
partnership relationship
Invest in feed cultivation (grass and corn) to ensure quality feed at
Own 3,400 dairy cows affordable prices
International technology and equipment Own 2,500 dairy cows
>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
Page 37
Strategies
BRAND CAMPAIGN
Page 38
Update warehouse & Factory MM2100
Area Warehouse Area Factory
25,000 m2 38,000 m2
Capacity Capacity
36,940 Pallet position Total : 400 kT / year
- Phase I : 200 kT / year
System System
ERP (Enterprise Resource Planning) Oracle ERP (Enterprise Resource Planning) Oracle
ASRS (Automated Storage & Retrieval Systems) HRIS (Human Resources Information System)
15 levels Rack FG Automatic GEA Processing
14 Levels Rack RMPM Fresh Milk Reception
Location : Tetrapak Technology
Jln. Irian XV, Blok RR No.15, MM2100 Industrial Estate, Robotic + AGV (Automatic Guided Vehicle)
Cibitung, West Java. MES (Manufacturing Execution System)
AI (Artificial Intelligent) Camera
Total Area : 200,000 m2
Building Area : 51,000 m2
Facility - Open Area : 12,000 m2
Open Space : 127,000 m2
Page 39
Video Update MM2100 Warehouse – distribution centre & Factory
Page 40
Update Office & Production
Office & Factory :
Cimareme - Bandung Barat, Fresh milk tanks (Cylo tank)
West Java
Fresh milk receiving system
upgrade
Office and Production Overview
Page 41
04
Corporate
Action 2024
Page 42
Aksi korporasi 2024
Based on the Minutes of the Annual
Dividend distribution on General Meeting of Shareholders No.
net income for fiscal year
2023 02 dated June 19, 2024, from Notary Ari
Hambawan S.H. M.Kn
Rp 40,- per share
Number of shares 10,398,175,200
shares
Total dividend Rp 415.9 billion or
35.6% of the Net Profit for 2023
Payment on July 19, 2024
Page 43
Financial
05 Report
Highlights
Page 44
Income Statement
(IDR million) FY2022 FY2023 3Q23 3Q24
Revenue 7.656.252 8.302.741 6.118.340 6.582.915
COGS (5.199.164) (5.611.170) (4.130.032) (4.358.497)
Gross profit 2.457.088 2.691.571 1.988.308 2.224.418
Selling expenses (961.407) (982.835) (631.129) (848.039)
General & administrative
(224.184) (252.663) (185.809) (198.833)
expenses
Other expenses & Income 31.357 18.704 15.023 (78.007)
Total (1.154.234) (1.216.794) (801.915) (1.124.879)
Operating Income 1.302.854 1.474.777 1.186.393 1.099.539
Finance income 127.283 69.861 59.097 30.157
Finance cost (120.978) (48.410) (40.362) (1.426)
Shares of net (loss) in
(20.161) 11.057 11.095 20.088
associates or JV
Profit Before Income Tax 1.288.998 1.507.285 1.216.223 1.148.358
Income tax expenses (323.512) (321.124) (265.114) (255.188)
Profit after tax 965.486 1.186.161 951.109 893.170
94%
Profit attributable to:
Owners of the parent 960.786 1.169.212 939.008 881.181
Non-controlling interest 4.700 16.949 12.101 11.989
EBITDA 1.458.327 1.647.624 1.317.934 1.230.791
Page 45
Balance Sheet
As Of December 31st As Of Sept 30th
(IDR million) FY2022 FY2023 3Q23 3Q24
Current assets
Cash 1.248.642 2.174.324 2.347.504 2.443.724
Trade receivables 617.192 710.304 735.196 694.667
Inventories 1.637.361 1.431.226 1.508.264 1.256.014
Others 1.115.195 95.621 165.406 170.779
Total current assets 4.618.390 4.411.475 4.756.370 4.565.184
Non-current assets - -
Fixed assets 2.260.183 2.346.120 2.273.980 2.448.419
Investment in associates 100.128 111.185 111.223 131.273
Other non-current assets 397.674 655.176 573.200 746.961
Total non-current assets 2.757.985 3.112.481 2.958.403 3.326.653
Total assets 7.376.375 7.523.956 7.714.773 7.891.837
Current liabilities - -
Trade and other payables 625.235 465.275 337.179 464.020
ST loans 1.449 1.567 1.536 1.662
Current portion of LT Lease 7.138 10.358 4.762 5.941
Medium Term Notes Loan 598.319 - 599.766 -
Other current liabilities 224.757 236.193 227.193 147.411
Total current liabilities 1.456.898 713.393 1.170.436 619.034
Non-current liabilities - -
LT Lease 3.918 18.976 2.084 15.092
Deferred tax 648 2.529 648 2.435
Other 92.232 102.090 97.036 109.484
Total non-current liabilities 96.798 123.595 99.768 127.011
Total Liabilities 1.553.696 836.988 1.270.204 746.045
Minority interest 83.944 86.159 81.227 82.107
Equity 5.738.735 6.600.809 6.363.342 7.063.685
Total Liabilities and Equity 7.376.375 7.523.956 7.714.773 7.891.837
Page 46
Cash Flow
(IDR million) FY2022 FY2023 3Q24 3Q24
Cash flow from operations
Net Cash flow from operating
activities 631.938 1.594.942 1.001.458 1.232.922
Interest income 179.531 124.512 98.514 74.186
Interest expense (116.298) (46.730) (38.915) (1.426)
Income tax (427.799) (286.066) (198.651) (262.964)
Others (7.526) 13.184 18.094 1.264
Net cash generated from
operating activities 259.846 1.399.842 880.500 1.043.982
Cash flow from investing
Capex (374.366) (391.908) (303.118) (350.836)
Others 926.269 840.981 869.137 17.808
Net cash from investing activities 551.903 449.073 566.019 (333.028)
Cash flow from financing
Payment of Medium – Term Notes (900.000) (600.000) -
Payment of lease payable (15.730) (11.400) (6.116) (9.763)
Others (246.278) (311.833) (341.541) (431.791)
Net cash from financing activities (1.162.008) (923.233) (347.657) (441.554)
- -
Net increase/(decrease) in cash (350.259) 925.682 1.098.862 269.400
Cash at beginning of year/period 1.598.901 1.248.642 1.248.642 2.174.324
Cash at end of year/period 1.248.642 2.174.324 2.347.504 2.443.724
Page 47
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.
Page 48
Thank you Investor-relations@ultrajaya.co.id www. ultrajaya.co.id
Names mentioned 29 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Ultrajaya Milk Industry
p.1 ×3
unresolved
org
Trading Company Tbk
p.1 ×3
unresolved
org
PT PRAWIRAWIDJAJA PRAKARSA
p.6
unresolved
org
PT KRAFT
p.6 ×2
unresolved
org
PT NIKOS
p.6
unresolved
org
PT ITO-EN
p.6
unresolved
org
PT ULTRA
p.6 ×2
unresolved
org
PT MENARA ULTRA
p.6
unresolved
org
PT TIRTA TALAGA
p.6
unresolved
org
PT KARYA
p.6
unresolved
org
PT Sanghiang
p.11
unresolved
org
PT Unilever
p.11
unresolved
org
Indonesia Tbk.
p.11
unresolved
org
Koperasi Peternak Bandung Selatan
p.30
unresolved
org
PT Kraft Ultrajaya Indonesia
p.32
unresolved
org
PT Indomilk Served
p.32
unresolved
org
PT Ito En Ultrajaya Wholesale
p.32
unresolved
org
PT NDI
p.32
unresolved
org
PT Ito
p.32
unresolved
org
PT Campina
p.32
unresolved
org
PT USDF. En Ultrajaya Wholesale
p.32
unresolved
org
PT USDF Senior Manager Bobby K. Gandasaputra
p.32
unresolved
org
PT Loreal Indonesia.
p.32
unresolved
org
PT. Carrefour Indonesia Logistics
p.32
unresolved
org
PT Karya Putrajaya Persada
p.36
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