Half-Year FY2014 Results




F& N

Full- Year

FINANCIAL

HIGHLIGHTS


Important notice


Certain statements in this Presentation constitute 'forward-looking statements', including forward-looking financial information. Such forward-looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of F&NL, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements and financial information. Such forward-looking statements and financial information are based on numerous assumptions regarding F&NL's present and future business strategies and the environment in which F&NL will operate in the future. Because these statements and financial information reflect F&NL's current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information.

F&NL expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement or financial information contained in this Presentation to reflect any change in F&NL's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the SGX-ST and/or any other regulatory or supervisory body or agency.

This Presentation includes market and industry data and forecast that have been obtained from internal survey, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Industry publications, surveys and forecasts generally state that the information they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information. While F&NL has taken reasonable steps to ensure that the information is extracted accurately and in its proper context, F&NL has not independently verified any of the data from third party sources or ascertained the underlying economic assumptions relied upon therein.


2



06/11/2015

FY2015 Performance Highlights

Executing on our regional expansion strategy


FY2015 earnings impacted by

  1. Marketing investments in (i) new product launches and (ii) new markets ($13 million)

  2. Adverse foreign exchange effect

  3. Lost sales and higher operating costs due to floods in Malaysia in 1Q2015

Dairies recorded double-digit earnings growth

a) Supported by higher sales; boosted by lower input costs and improved manufacturing efficiency



Full year ended 30 September 2015

1 Excludes a one-off valuation gain of $21 million recorded last year on a property joint venture upon the demerger of Frasers Centrepoint Limited

3



06/11/2015


Revenue

(millions)


$2,103.8

▲ 0.5%

Earnings before interest and tax ('EBIT')

(millions)


$131.6

▼ 11.2%1


EBIT margin (%)

6.3%

▼ 82bps1


Earnings per share (basic)2,3 (cents)


4.4

▼ 25.4%1

Gearing (millions)

$865 (net cash)

▲ $647m


Dividend per share4 (cents)


5.0

-



Full year ended 30 September 2015

1 Excludes a one-off valuation gain of $21 million recorded last year

2 Continuing Operations only

3 Before fair value adjustment and exceptional items

4 Includes an interim dividend of 2.0 cents per share, paid on 11 June 2015

4



06/11/2015

distributed by