FIRST PACIFIC COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
OVERSEAS REGULATORY ANNOUNCEMENT Please refer to the attached press release filed by PT Indofood Sukses Makmur Tbk ("Indofood"), a 50.1% owned subsidiary of First Pacific Company Limited, to the Indonesia Stock Exchange, in relation to Indofood's financial results for the period ended 31 March 2017, together with the relevant Consolidated Financial Statements in the newspaper format. Dated this the 28th day of April, 2017As at the date of this announcement, the board of directors of First Pacific Company Limited comprises the following directors:
Executive Directors:
Manuel V. Pangilinan, Managing Director and CEO
Edward A. Tortorici Robert C. Nicholson
Non-executive Directors: Anthoni Salim, Chairman Benny S. Santoso
Tedy Djuhar
Ambassador Albert F. del Rosario
Independent Non-executive Directors: Prof. Edward K.Y. Chen, GBS, CBE, JP Margaret Leung Ko May Yee, SBS, JP Philip Fan Yan Hok
Madeleine Lee Suh Shin
PRESS RELEASE For Immediate Release
INDOFOOD FINANCIAL RESULTS FOR THE PERIOD ENDED 31 MARCH 2017
Consolidated net sales grew 8.0% to Rp17.83 trillion
Income from operations increased 37.7% to Rp2.59 trillion
Income for the period attributable to the equity holders of the parent entity increased 11.0% to Rp1.20 trillion
Jakarta, 28 April 2017 - PT lndofood Sukses Makmur Tbk ("lndofood" or the "Company") today announced its financial results for the period ended 31 March 2017. Consolidated net sales grew 8.0% to Rp17.83 trillion from Rp16.52 trillion in the same period last year. The Company's Strategic Business Groups ("Group") namely Consumer Branded Products ("CSP"), Bogasari, Agribusiness, and Distribution Group contributed around 50%, 21%, 22% and 7% respectively.
Income from operations increased 37.7% to Rp2.59 trillion from Rp1.88 trillion, while operating margin expanded to 14.5%. Income for the period attributable to the equity holders of the parent entity increased 11.0% to Rp1.20 trillion from Rp1.09 trillion and net margin slightly improved to 6.8% from 6.6%. Core profit, which reflects the underlying performance, increased 17.1% to Rp1.19 trillion from Rp1.01 trillion in the same period last year.
Anthoni Salim, the President Director and Chief Executive Officer of lndofood, said:"We are pleased that we have accelerated our sales and core profit growth in the first quarter of 2017 . Amidst increasing competition and weaker market ·demand, CBP Groups performance outpaced the growth in key food and beverage categories. Our Agribusiness Group benefited from the increasing palm products' prices and the recovery in CPO production."
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PT IND FOOD SUKSES MAKMUR TbkSudirman Plaza
lndofood Tower, 25'h Floor
JI. Jend. Sudirman Kav. 76 - 78 Jakarta 12910, Indonesia
T. +6221 5795 8822
F. +6221 5793 7373
www.indofood.com
About PT lndofood Sukses Makmur Tbk
Over the last two decades, lndofood has progressively transformed into a Total Food Solutions company with operations in all stages of food manufacturing, from the production of raw materials and their processing, to consumer products in the market. Today, it is renowned as a well-established company and a leading player in each business category in which it operates. In its business operations, lndofood capitalizes on economies of scale and a resilient business model with four complementary Strategic Business Groups ("Group"), namely:
Consumer Branded Products ("CBP")
Supported by the strength of its product brands, the Group produces a diverse range of consumer branded products including noodles, dairy, snack foods, food seasonings, nutrition and special foods, and beverages.
Bogasari
The Group is primarily a producer of wheat flour as well as pasta, with business operations supported by its own shipping and packaging units.
Agribusiness
The Group's principal activities range from research and development,seed breeding,oil palm cultivation and milling, to the production and marketing of branded cooking oils, margarine and shortening. The Group also cultivates and processes rubber, sugar cane and other crops.
Distribution
With the most extensive distribution network in Indonesia, the Group distributes the majority of the consumer products manufactured by lndofood and its subsidiaries, as well as by third parties, to the market.
For further information, please contact:
Elly Putranti Corporate Secretary
PT lndofood Sukses Makmur Tbk
T :+6221 5795 8822
Fax: +6221 5793 7373
Email: elly.putranti@indofood.co.id
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PT INDC@FOOD SUKSES MAKMUR Tbk AND ITS SUBS DIAR ES SUOIRMAN PLAZA, INOOFOOO TOWER,27th Floor, JalanJenderalSudirman Kav. 76 78,Jakana 12910,INDONESIA Phone :I62 - 21 I57958822 Fax :{ 62 • 21 ) 57935960 | ! !! www.lndofood.com | |||||
INTERIMCONSOLIDATED STATEMENTOF FINANCIAL POSITION As of Mench 31,2017 (ExpressedIn Miiiion of Rupiah,UnleuOtherwiseStated) {UNAUDITED) | INTERIMCONSOUDATEDSTATEMENT OFPROFITOR LOSSAND OTHERCOMPREHENSIVE INCOME F«theThree Months Period Ended Mm31,2017 (Expressed In IIQllons of Rupiah,Unless Otherwise Stated) (UNAUDITED) | INTERIMCONSOLIDATED STATEMENT OF CASH FLOWS For ha Three Monlha Period Ended March31,2017 {Expre11edIn Mllllona of Rupiah, Unless Otherwise Si ted) (UNAUDITED) 2017 2016 (ThraeMonlh&) (Thr1MIMontho) CASHFLOWS FROMOPERATINGACTIVITIES Cash receivedfromoostomers 17,2121310 16,163,390 Cash paid tosuppliers (10,617,569) (9,965,145) Paymentslor produclion andope,aingexpenses {4,611,7681 (4,227,023) Payments toemp oyees (1,186,325) Cashgeneraled lromcperations 796628 860,1167 Receipts olinterest ncome 155,747 148,781 Paymerrts ollaXes•nel l3B6,I031 1152,906) Payments ofintorl'lSt expenses (296,296) 1400936) Others slpay nl)·net 1,137 Net Cash Provided by OperatingActivities 266613 4 30 666 CASHFLOWSFROMINVESTING ACTIVITIES Proceedslrom sale olllxod assets 6,806 9142 Addit onslolixod assets and planlalions (725,912) (1,319,112) Payments olact,anoeslor projects and acquistionol ixed assetsISB2,B56) (95,989) Additions to ln,estment 1148,4-001 Capi1a izedlulure cane crops expendilures 133,988) (27 914) Ac:qu sion olSubsidiaries,net of cashaoquired Net Cash Used inlnvesling Ac1iviUn (1484,348) (1,488,815) CASHFLOWS FROMFINANCINGACTIVmES Proceedslrom short-termbank loans 3,350068 3,155,763 Proceedslrom long· erm bankloans 304,4221755.804 Capi1alcontribution and ad ance or stock subscription fromnon-controllin9ln1eresls 102,835 1038 Proceeds of loog·termborrowlogslrom relaled parties 6,000 121640 Paymenlsolshort· erm bank loans (1663,0631 (3,261656) Payments ollong·erm bank loans 1868,147) 1620,749) Payments olcashdiv dends by subsidiaries to non·control ng Interests 11,318) Net Cash Provided by Financing Acllvltlet 1,190,175 1,131,858 NET EFFECTSOFCHANGESIN EXCHANGE RATESONCASH AND CASHEQUIVALEITTS (34,226) NET DECREASEIN CASH AND CASH EQUIVALENTS ) ) CASHANO CASHEQUIVALENTS ATTHE BEGINNING OFPERIOD 12962,041 CASHANO CASHEQUIVALENTS ATTHE ENOOFPERIOD 13,302450 12,864 363 Cash andcash equivalenls cons st of: Cashandcash equivalenislromcountlnuingoperation 13,302450 12968,748 o,erdralt Net 1 3,302450 | ||||
ASSETS CURRENT ASSETS Cashandcash equiva enls Short-termin eslmerrts Accounts recelvablo Trado Third ponies •net Relatedparties Non trado Third parlies Reatedparties Inventories ·nel Actvanoes and deposits Prepa dtaxes Futurecrop expenditures Prepaidexpenses andother currenlassets Total Curren A11ets NON·CURRENT ASSETS Claimslor tax refund Plasma recei ables • net Deferred tax assets • net Longlerm nveslmenls Plantations Malure plantations • net Immatureplantations Industrialtimber plantations, net Fixedassets net Investment proporty Oe arredcharges·nel Goodwill Intangible asse s•net Long· ermprepayments Other non currenlassets Total Non-current Aaseta TOTAL ASSETS | Mo,ch31,2017 13,302,450 682 603 4,392,111 885,326 236,291 361,120 9,045,356 843 801 380,190 233,395 340,913 30,703,556 166,272 1,066,211 2,131,912 5,634,901 6,341,787 2,658,020 284,161 25 697 839 42,188 666,674 3,976,524 2,296,688 1,033,510 1,797,229 53,993,936 | -31,2011 LIABILITIES ANO EQUTY LIABILITIES 13,362,236 CURRENT LIABILITIES Short-term bank loans andove ratt TruSI recelpls payable 534,138 Trado payablas Thirdparties Relatedpes Olher payabsanddoposllr0•Thirdparties 3,729,640 Aoetuod expanses Short·te•m empklyee beneflls obll ly 687,206 Taxespayable Curren marurltles ot long·termdebls Bankloans 216,638 Bondspayable 371,033 Liability 10purchaseso b!dassets 8,469,821 TotalCurront Llabllltlot 699,403 320,384 NON-CURRENT LIABILITIES 180,900 Loogterm debls -ne1olC1.rert malu•llos Bank loans 214,044 Bondspayable 28,985,443 LiabilityfO!purchasesollx!dassets Total Long·term Debts Deferred lax iabiilies •net Duoto relalod pallies Advanca for stock su tlonlromnon·con;n>!llnginteres1 Uabillllas tQr ijlTlployeebentlr 271,485 Estimatedliabilmes et assetscismant!lngcosts 1,064,600 Total Non-current Llabllllles 2,044,321 TOTALLIABILITIES 3,276,017 EQUITY 6,014,014 CataJ stock• Rp100 {1u41amtunl) par valueporsharo 3,095,395 Authorlzod •30,000,000,00lsllares 284,162 lssuodand fully paid.8,780.426,500 shares Additionalp·lncapital 25,701,913 Unrealized gainson available.:or·sa efinancialassets 42,188 Oifferencelrom changesIneqtlo/ ot Subslciaries andefedsoflransactions 'l1h non·controllingInterests 627,998 Excllange dilerenceson transl Uonot financialsta enlS 3,976,524 Retainer! earn ngs App•oprlatedforgeneralreserve 2,329,997Unappropriated 981,204 Equity Attr butable oEquity Hoden,oltheParent Entity 3,479 ,254 No ontrolllnglnteteata 53, 1 89, 072 TOTALEQUITY TOTAL LIABILITIESANO EQUITY | March 31,2017 °""'11«31,IOII 7 341,833 5697 745 424,760 1218864 2,683,650 2,964 533 657,997 573 340 899,514 1222 334 2,112,971 2,260 066 1,280,721 824 n8 1,246,756 840 182 1200,110 1608 077 1999,666 1999 082 19,858,348 1 9,21 9 441 9697,803 9689 092 1994,710 1994,160 11,69},W, 11,88;: 977,595 1050,282 548,099 542 099 142,100 83 300 5,501S,Hl7 :s.300,277 i:, . ; 1 9 ' . 19013g;1 878,043 878 043 283,732 283,732 851,221 707 446 6,755,035 6727 795 863,333 871 186 -Jm10 0,:m000 ::100::rs000: 1 5, 533,48814 98 7 1 37 45 874,949 43 941 423 | 2017 2016 (ThreeNonlht) (ThreeMonths) CON'TlNUINGOPERATIONS NET SALES 17,834,867 16,515,754 COST OFGOODS SOLO 12, 464, 326 11,901, 597 GROSS PROFIT 5, 37(,, 641 4, 614, 157 Sel ng anddlstnbullonexpanses (1,91 200) (1,1159,309) Generalandadmlnistralive expenses 189096) 1883,009) Other operating ncome m,862 136,567 Other operatingexpenses lH!illJ INCOME FROMOPERATIONS 2,587622 1, 678888 Ananceinoome 19 ,600 373,532 Finance e.xpenses 1324127) 14-08,135) Finaltaxonin1erest income 13302) 135,165) ShareIn net losses of associates 16980) INCOME BEFOREINCOME TAX EXPENSE 2,351,81 31,73 0678 IncomeTax Expense INCOME FORTHE PER OD FROM CON'TlNUINGOPERATIONS 1.76, 082 1,262,446 A DISCONTINUEDOPERATION INCOME FORTHE PER OD FROM A DISCON'TlNUEOOPERATION --- INCOME FORTHE PER OD Other comprehensive I ncome ( osses) Mwa ma1:ttill ag1 1a l[ 121i:Gln 1:1!t12a· Re·measurementgains {losses) olempklyees'benefrt llablli les 1 116) 12674 Shareo other COl'l)rehensive lossas olassociates,net olta, (809) 13,060) Items th.al Uli ba cilSifassi!wd to RW!ilm112· Unrealizedgains!losses)on available·for·salellnancialassets 221,171 1144,992) Excllange dMerences onlranslallon olllnanclat s1a1emen1s 14906) 1106,449) Shareo other COl'l)rehensiveincome klsses) ol assoc ales, n01ot laX 144.137) 8965 Fairva ue gaJnsarising romcashflow hodlJes Othor OOfflll ehansiveinoome {losses) or thoperiod,net oltax 131,203 TOTAL COMPREHENSIVEINCOME FORTHE PERIOD 11s9l12651 Incomelor theper odat1rlllulable to: Equityholders ol haperanlentily 1,204891 1,065,640 Nor>ntrollloglnteresls Total 1w,690 Tola! comprahenslvo Income lor thepetlodattr butab eto : Equity holders ol hoparonlon1i1y 1,367,175 963,196 No nlrolllngintares1s filll! _filill. Total 1,69l 265 11360621 BASCEARNNGS PER SHARE FROMCONTINUINGOPERATIONS ATTRIBUTABLETO EQUTY HOLDERS OFTHE PARENT ENTITY fullamounQ BASICEARNINGS PEA SHARE FROMA DISCONTINUEDOPERATION --- --- ATTRIBUTABLETO EQUTY HOLDERSOFTHE PARENT ENTITY full amounQ10 | ||
Notes : t. Theinancial nformationasoC andfor thethree-monthpe,iodended Mardi 3t ,2017and2016lsunaudited.
PTlndolood Sukses Malanur Tbkanditssubsidiariesloollective relerred toasthe'Group')presentfairly,in almatenalre.peels,the consolidatedfinancialposition oltheGroup asot Decembe31,2016,end their oonsoldated financialperformance andcashflowslorthe year thenended, in aorwithlrdmesianFinancialAouni | og Slandarlfs. | Jakarta,April 28, 2017 The Board of Directors PTINDCFOOD SUKSES MAKMURTbk | ||||
First Pacific Company Limited published this content on 28 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 April 2017 07:24:13 UTC.
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