PT Kino Indonesia Tbk
Transcript of PT Kino Indonesia Tbk
Address:Kino Tower 17th Floor
Jl. Jalur Sutera Boulevard No. 01, Alam SuteraPanunggangan Timur, Pinang
Tangerang City 15143, Banten, Indonesia
Company PresentationQuarter 1 - Year 2020
PT Kino Indonesia Tbk
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Kino Corporate OverviewKey Milestones
• Restructuring of PT Kinocare Era Kosmetindo to become PT Kino Indonesia
• Kino International Pte. Ltd. became the holding of overseas branches
Kino International Pte. Ltd. and Kino Vietnam Co. Ltd. were established
PT Kinocare Era Kosmetindo obtained license from Wen Ken Drug Pte. Ltd. to manufacture, market, and distribute “Cap Kaki Tiga” in Indonesia
PT Kino Sentra Industrindo was established to produce confectioneries, foods and powdered drinks, and PT Kinocare Era Kosmetindo was established to produce toiletries, cosmetics, personal care, beverages and pharmaceuticals
Kino Care (M) Sdn. Bhd. and Kino Consumer Philippines Inc. were established
PT DutalestariSentratama was established as a distribution company
199119971999
20032004
2011 2013 2014 2015 2016 2017 20192018
▪ PT Kino Indonesia Tbk has officially acquired 51% shares on PT Kino Food Indonesia from Morinaga & Co., Ltd.
▪ LinandaConsumer India Pvt. Ltd. was established
• PT Kino Ecomm Solusindowas established
• PT Kino Indonesia Tbkobtained license from Wen Ken Drug Pte. Ltd. to manufacture, market, and distribute “SejukSegar” in Indonesia
• PT Kino Malee Indonesia and Malee Kino (Thailand) Company Limited were established as JV companies with MaleeCapital Company Limited
PT Kino Indonesia Tbklisted its shares in Indonesia Stock Exchange
• PT Kino Indonesia Tbk acquired “DuaPutri Dewi”, a traditional herbal medicine brand
• PT Kino Indonesia Tbk acquired the business of RistraGroup and formed PT Ristra LaboratorisIndonesia and PT Ristra KlinikIndonesia
• PT Kino Pet World Indonesia dan PT Kino Pet World Marketing Indonesia were established as JV companies with Wah Kong Corporation Sdn Bhd
• PT Kino Indonesia Tbk added shares until 100% on PT Ristra Laboratoris Indonesia and PT Ristra Klinik Indonesia
• Kino Care Consumer (Cambodia) Co., Ltd. was established as JV company with VSCP Investment Co., Ltd.
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PT RistraLaboratorisIndonesia
PT RistraKlinik
Indonesia
Kino Consumer Philippines Inc.
Kino International
Pte. Ltd.
PT DutalestariSentratama (2)
PT Kino Food
Indonesia(3)
PT Kino Indonesia Tbk
Mr Harry SanusiPT Kino Investindo(1)
Kino Vietnam Co., Ltd
Kino Care (M) Sdn.
Bhd.
9.98% 69.5%
80.4% 99%99%100%99.97%
Public
20.52%
PT Kino Ecomm
Solusindo
99.67%
PT Kino MaleeIndonesia(4)
51%
100% 100% 100%
PT Kino MaleeTrading(5)
99.93%
Malee Kino (Thailand) Company Limited
49%
PT Kino Pet World Indonesia(6)
PT Kino Pet World Marketing Indonesia(6)
51% 51%
Kino Care Consumer (Cambodia) Co., Ltd.(7)
51%
LinandaConsumer India Pvt. Ltd.(8)
99.75%
Kino Corporate Structure
(1) 99% held by Mr. Harry Sanusi and 1% held by Mr. Ali Sanusi(2) the remaining 0.1% is held by Mr. Harry Sanusi(3) the remaining 19.6% is held by Mr. Harris Sanusi.(4) the remaining 49% is held by Malee Capital Company Limited, an independent third party(5) the remaining 0.07% is held by PT Kino Indonesia Tbk(6) the remaining 49% is held by Wah Kong Corporation Sdn Bhd, an independent third party(7) the remaining 49% is held by VSCP Investment Co., Ltd., an independent third party(8) the remaining 0.25% is held by PT Kino Indonesia Tbk
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Target Consumers
◼ Middle and high income ◼ Middle and high income(1) ◼ Low, middle and high income ◼ Low and middle income
Personal Care (17) Beverage (5) Foods & Pet Food (8) Pharmaceutical (3)
▪ Hair CareEllips, Samantha, Sasha
▪ Remedy DrinksCap Kaki Tiga, Cap Kaki TigaAnak, Sejuk Segar
▪ ConfectioneryKino Candy, Chew2Ball, Frenta, Oplozz
▪ Herbal cough, balm, Skin Ointment, Ringworm MedicineCap Kaki Tiga
▪ Oral CareSasha
▪ Energy DrinksPanther
▪ Powdered DrinksSegar Sari
▪ Kids Personal Care and Baby Eskulin Kids, B&B Kids, Master Kids,Sleek
▪ Asian DrinksCap Panda
▪ SnackSnack It, PIA 100, Sekar Harum
▪ Traditional Herbal MedicineDua Dewi, Lola Remedios
▪ Feminine HygieneResik-V, Absolute
▪ Skin CareOvale, Ristra, Platinum, Trustee
▪ JuiceMalee, Malee Coco
▪ Dog FoodProbalance
▪ FragranceEskulin, Master
Joint venture with Malee Group Public Limited, a Thai beverage player
▪ Cat FoodProdiet
▪ Air FreshenerEvergreen
Joint venture with Wah Kong Corporation Sdn. Bhd., a Malaysian conglomerate company
▪ DecorativeAbstract
Key Segments & Brands
34 Brands
23 Categories
(1) High income customers targeted through premium brands access is JV with Malee
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(1) Contribution percentages and Rupiah financial metrics are as of YTD Dec’19
Q1 – Financial Contribution
Segment Revenue (1)
(in Billion Rp)
Gross Profit (1)
(in Billion Rp)
Personal Care 555 323
Beverages 412 175
Food & Pet Food 110 34
Pharmaceutical 36 23.7
Total revenue as of YTD Mar’20: Rp1,113bn
50%
37%
10%3%
Revenue Contribution
PC Bev Food & Pet Food Phar
Total gross profit as of YTD Mar’20: Rp555,7bn
58%32%
6% 4%
Gross Profit Contribution
PC Bev Food & Pet Food Phar
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JAVA: 74 direct reach
distribution outlets
EAST INDONESIA: 18
direct reach distribution outlets
SULAWESI: 32 direct reach
distribution outlets
KALIMANTAN: 32 direct reach
distribution outlets
SUMATERA: 104 direct reach
distribution outlets
BALI & NUSA TENGGARA: 16 direct reach
distribution outlets
DLS: 2 branches
DLS: 6 branchesDLS: 3 branches
DLS: 4 branches
DLS: 9 branches
DLS: 9 branches
National network provides broadest platform for growth and drives cost synergies
All products in Indonesia channeled through our proprietary distribution business DLS
Company-owned branches primarily in Java and Bali regions: highest populations and spending power
Engage local distributors in other areas to expand reach in a capital-lite manner and leverage on-the-ground knowledge
Key features
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2
3
4
◼ Total distribution points of sale: 1.2m
‒ 33 DLS branches
‒ 164 local distributors / 276 direct reach distribution outlets
(1) As of 30th September 2019
Leadership underpinned by deep local distribution
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Apart from local region, penetration has also being done towards international markets
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Leading portfolio of personal care brands in attractive segments
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(Rp, billions)
1,801
2,188
516 555
2018 2019 YTDMar'19
YTDMar'20
(Rp, billions)
1,0301,203
282 323
2018 2019 YTDMar'19
YTDMar'20
Brands
and
products
Key segments
Rev
en
ue
Gro
ss P
rofi
t
Growing portfolio of beverage brandsAttractive mix of functional local beverages
9
(Rp, billions)
1,528
1,762
360 412
2018 2019 YTDMar'19
YTDMar'20
(Rp, billions)
593716
136 175
2018 2019 YTDMar'19
YTDMar'20
Brands
and
products
Rev
en
ue
Gro
ss P
rofi
t
Growing portfolio of food and pet food brandsCurrent food offering includes a variety of candy and snacks, and pet foods offers wide
choices for cats and dogs
10
(Rp, billions)
255
445
88 110
2018 2019 YTDMar'19
YTDMar'20
(Rp, billions)
4
70
12
34
2018 2019 YTDMar'19
YTDMar'20
Brands
and
products
SnacksCandy
Cat FoodDog Food
Rev
en
ue
Gro
ss P
rofi
t
11
Brands
and
products
Significant portfolio growth of pharmaceutical brandMainly derived from the enormous performance of Lola Remedios in Philippines
Rev
en
ue
Gro
ss P
rofi
t
(Rp, billions)
27
284
38 36
2018 2019 YTDMar'19
YTDMar'20
17
192
24 23.7
2018 2019 YTDMar'19
YTDMar'20
(Rp, billions)
259
306
803
348
125
8.2% 8.5%
17.2%
11.2%
2017 2018 2019 YTDMar'19
YTDMar'20
EBITDA EBITDA margin
34.7%
3,161
3,612
4,679
1,0021,113
42.1% 45.5% 46.8% 45.3% 49.9%
2017 2018 2019 YTDMar'19
YTDMar'20
Net revenue Gross margin
EBITDA and EBITDA Margin Net income and net income marginNet Revenue and Gross Margin(Rp in billions) (Rp in billions) (Rp in billions)
Note: EBITDA defined as income before income tax expenses + interest expenses + bank admin expenses + depreciation expenses + amortization expenses.
Net income excludes other comprehensive income mainly related to property revaluations.
EBITDA and Net profit on 2019 include gain on bargain purchase amounted to Rp 264 biliion.
EBITDA: Without gain, YTD Mar increased 48.13% YoY ; Net profit: Without gain, YTD Mar increased 45.73% YoY
110
150
516
304
58
3.5% 4.2%
11.0%
5.2%
2017 2018 2019 YTDMar'19
YTDMar'20
Net income Net income margin
30.2%
Comprehensive income including valuation gainsrelated to property revaluation
121
534
179
Track record of profitable growth
12
91
303