Source file signed link, expires in 15 minutes
Extracted text 18
Page 1
Public Expose
FY23 Audited and 1Q24
27 June 2024
Page 2
Agenda
1. Leadership Team
2. 2023 Performance
3. What’s Next in 2024
2
Page 3
Leadership Team
SIDHARTA P. OETAMA ANGGARA A. LINANDA BUDI SUSANTO KURDI GUNAWAN
President Director Director Director Director
HARTANTO KUSMANTO VEBBYNA DEWIANTI NURINDRA PRAWARIANTO
Director Director Director
Page 4
Agenda
1. Leadership Team
2. 2023 Performance
3. What’s Next in 2024
4
Page 5
Summary
Profit and Loss
1. Strong performance in FY23 as revenue grew by 13.9% YoY to Rp4.14T, with improved gross
profit margin from 36% in FY22 to 41.7% in FY23
2. EBITDA margin reached 10% or Rp412B in FY23, >Rp983B increase compared to FY22.
3. Both S&M (excl A&P) and G&A, as % of revenue went down from 14.5% and 19.2% in FY22 to
10.2% and 8.3% in FY23 respectively as Kino became more efficient
4. A&P (the biggest Opex component) as % of revenue also went down from 23.5% in FY22 to
18.1% in FY23
5. All in all, FY23 NPAT reached Rp77B, representing 1.9% of total revenue and an increase of >
Rp1T from FY22
Balance Sheet and Cash Flows
1. CCC improved significantly from 126 days as of Dec-22 to 67 days as of Dec-23 through
improvement in all working capital metrics
2. Strong FY23 operating CF at Rp750B (vs Rp241B in FY22), used for loan repayment
3. O/S bank loan is at Rp1.8T a of Dec-23, 18.6% lower (~Rp400B net principal repayment) vs Dec-
22, and as a result, net debt / equity improved to 1.0 from 1.3
5
Page 6
Laying Foundation for Growth in 2023
Revamping Organizational
Holistic SKU Review S&OP Process Improvement
Structure
6
Page 7
Revenue grew substantially and with improved GPM; Improved
efficiency in production process
Revenue Gross Profit and GPM
RpB RpB
4,679 GPM GP
+13.9%
46.8% 47.9%
4,136 +31.7%
4,025 3,977 45.2%
41.7%
3,631
2,191
36.0%
1,929
1,796
1,724
1,309
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
7
Page 8
Beverage is still the largest but with less contribution to the total
Sales; Meanwhile Personal Care’s contribution is stable
Revenue by Segment
RpB
Personal Care Beverages Foods Pharmaceutical Pet food
Sales in RpB Segment proportion in %
+13.90%
4,136 4,136
3,631 3,631
1,335 32.27%
1,196 32.93%
2,291 55.38%
2,073 57.09%
324 441 8.92% 0.21% 10.66%
8 61
31 9 0.86% 0.21% 1.48%
2022 2023 2022 2023
8
Page 9
In addition to the improved GP, EBITDA grew by Rp983B and NPAT
grew >Rp1T YoY, helped by improved efficiency in OPEX
EBITDA and EBITDA Margin NPAT and NPM
RpB RpB
EBITDA Margin EBITDA NPM NPAT
16.8% 11.0%
+ 983B + >Rp1T
10.0% 10.0% 516 2.8% 2.5% 1.9%
787 8.4%
114 98 77
397 412
338
-26.2%
-15.7%
-571 -950
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
Notes: EBITDA is adjusted for non-core operating items such as gain/loss from sale of fixed assets, inventory recovery, etc.
9
Page 10
S&M’s CR is the lowest in 5 years, while GA’s lowest in 4 years
S&M (excl, A&P) and as % of sales G&A and as % of Sales
RpB, % RpB, %
% of Revenue S&M (excl. A&P) % of Revenue G&A
14.5% 19.2%
13.6%
13.2%
11.6% 12.3%
10.2% 10.4%
541 549 697 8.3%
524 525
6.5%
422
497
412
344
303
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
Notes: S&M excl. A&P but incl. Manpower and delivery; GA incl. Manpower
10
Page 11
A&P lower by 12.3% YoY. CR is lower by ~5.4 percentage
point YoY
A&P
RpB
% of Revenue A&P
23.5%
19.3% 18.9%
18.1%
16.7%
903 -12.3%
852
752 747
673
2019 2020 2021 2022 2023
11
Page 12
Significantly improved working capital with CCC is now at 67 days
(59 days lower than last year)
A/R and A/R Days A/P and A/P Days
RpB, Days RpB, Days
A/R Days A/R A/P Days A/P
125 131
115
90 90
79 80 78 78
1,429 1,458 71
1,370
867 949
565 602
478 470 446
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
Inventory and Inventory Days Cash Conversion Cycle (CCC)
RpB, Days Days
WIP Days FG Days RMPM Days
Inventory: 159
557 690 605 450 438 143
126
Total Inventory days:
78 107 107 82 66
4 4 67
3 87
2 60 58
41 3
47 27
28 43 45 37 36
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
12
Page 13
Repaid >Rp400B loan in FY23. This, combined with the strong
performance, improved the net debt/equity, back to 1x
Bank Loan
RpB
ST Loan CPLTD LT Loan
-18.6%
2,238
1,788 1,800 1,822
959
1,094 759 811
1,393 240
153 265
922 1,039
70 888 746
142 30 326
2019 2020 2021 2022 2023
Net Debt and Equity
RpB
Net Debt Equity Net Debt / Equity
1.3
1.0
0.6
Leverage start to
increase in FY20 2021 2022 2023
2,703
1,656
827 1,622
2019 2020 2021 2022 2023
13
Page 14
Strong operating cash flow to pay back loan
Cash Flows
RpB
CFO CFF CFI FX Impact Other
Cash Balance:
268 184 204 195 166
Net Change in Cash:
14 (84) 20 (9) -28
17 750
592
331 369 241
-71 3 22 5
-214 -257
-332
-385 -14 -617
-2
-354
-4
-108
-58
2019 2020 2021 2022 2023
Notes: “Other” in FY23 refers to cash in KFI. Due to the liquidation, the auditor decides to report it separately
14
Page 15
Agenda
1. Leadership Team
2. 2023 Performance
3. What’s Next in 2024
15
Page 16
Kino’s key initiatives in 2024
Acceleration of growth Sales & Marketing
capability development
Implementing channel, go-to market Realignment on E-Commerce, digital,
and pricing blueprint across Kino communication and media placement
16
Page 17
Snapshot: Strong 1Q24 performance, on growth and margin
Revenue Gross Profit and GPM NPAT and NPM
RpB RpB RpB
+7.0% GPM Gross Profit NPM NPAT
1,104 41.9%
41.0%
1,032 1.73%
1.67%
462
423
19
17
1Q23 1Q24 1Q23 1Q24 1Q23 1Q24
17
Page 18
Thank You www.kino.co.id
Names mentioned 6 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Bank Loan RpB ST Loan
p.13
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.