| Financial Year1 | FY2017 | FY2016 | FY2015 (As Restated2) |
CY2013 | CY2012 |
| (Amounts in US$ million unless otherwise stated) | |||||
| Profitability3 | |||||
| Turnover | 2,252.80 | 2,267.8 | 2,186.7 | 492.2 | 459.7 |
| Gross Profit |
494.9 |
481.9 | 408.2 | 115.6 | 112.8 |
| EBITDA | 194.0 | 235.2 | 86.5 | 42.3 | 59.9 |
| EBITDA - without Non-Recurring items | 211.8 | 202.1 | 146.1 | 68.8 | 59.9 |
| Profit/(loss) from Operations | 127.6 | 161.7 | 35.0 | 27.5 | 49.7 |
| Net Profit Attributable to Owners | 24.4 | 51.5 | (43.2) | 16.1 | 32.0 |
| EPS (US cents) | 1.21 | 2.65 | (3.10) | 1.24 | 2.47 |
| Net Profit - without Non-Recurring items | 45.5 | 19.8 | (6.7) | 33.9 | 32.0 |
| EPS - without Non-Recurring items (US cents) | 2.29 | 1.02 | (0.48) | 2.62 | 2.47 |
| Gross Margin (%) | 22.0 | 21.2 | 18.7 | 23.5 | 24.5 |
| EBITDA Margin (%) | 8.6 | 10.4 | 4.0 | 8.6 | 13.0 |
| Operating Margin (%) | 5.7 | 7.1 | 1.6 | 5.6 | 10.8 |
| Net Margin (%) | 1.1 | 2.3 | na | 3.3 | 7.0 |
| EPS Growth (%) | 58.7 | 185.5 | na | (49.8) | 15.4 |
| Return on Equity (%) | 5.1 | 15.0 | na | 6.7 | 13.4 |
| Return on Assets (%) | 0.7 | 2.0 | na | 2.9 | 6.9 |
| Balance Sheet | |||||
| Cash | 37.6 | 47.2 | 35.6 | 132.9 | 24.6 |
| Debt | 1,714.0 | 1,843.8 | 1,718.5 | 276.7 | 140.5 |
| Net Debt | 1,676.4 | 1,796.6 | 1,682.9 | 143.8 | 116.0 |
| Fixed Assets | 657.2 | 563.6 | 578.4 | 99.5 | 93.4 |
| Total Assets | 2,757.1 | 2,694.6 | 2,622.1 | 617.6 | 496.7 |
| Shareholders' Equity | 578.6 | 365.2 | 324.2 | 228.4 | 250.7 |
| Net Tangible Asset Per Share (US cents) | (8.4) | (19.8) | (22.4) | 16.5 | 21.8 |
| Net Debt to Equity Ratio (%) | 289.8 | 491.9 | 519.1 | 62.9 | 46.3 |
| Cash Flow | |||||
| Cash Flow from Operations | 187.1 | 31.0 | 239.6 | 27.8 | 19.5 |
| Capital Expenditure | 144.1 | 60.3 | 75.2 | 24.7 | 17.3 |
| Share Statistics4 | |||||
| Number of Outstanding Shares (million) | 1,943.2 | 1,943 | 1,944 | 1,297 | 1,080 |
| Number of Outstanding Preference Shares (million)5 | 20.0 | - | - | - | - |
| Average for period | |||||
| Share Price (Singapore cents) | 33.9 | 34.4 | 45.9 | 71.2 | 38.3 |
| Share Price (US cents equivalent) | 24.4 | 24.8 | 35.5 | 57.0 | 30.6 |
| Market Capitalisation (S$ million) | 658.7 | 668.5 | 892.3 | 923.2 | 413.7 |
| Market Capitalisation (US$ million) | 474.6 | 482.6 | 690.1 | 739.1 | 330.2 |
| P&L rate: US$1 : S$ | 1.39 | 1.39 | 1.29 | 1.25 | 1.25 |
| Price Earnings Multiple3 (x) | 20.2 | 9.4 | na | 46.0 | 12.4 |
| Share Price - Preference Shares (US$)5 | 10.2 | - | - | - | - |
| End of period | |||||
| Share Price (Singapore cents) | 33.5 | 30.0 | 42.0 | 56.3 | 47.3 |
| Share Price (US cents equivalent) | 24.0 | 22.2 | 30.5 | 44.4 | 38.8 |
| Market Capitalisation (S$ million) | 651.0 | 583.0 | 816.5 | 730.0 | 510.9 |
| Market Capitalisation (US$ million) | 465.6 | 431.9 | 593.7 | 575.2 | 418.8 |
| P&L rate: US$1 : S$ | 1.40 | 1.35 | 1.38 | 1.27 | 1.22 |
| Price Earnings Multiple3 (x) | 19.8 | 8.4 | na | 35.8 | 15.7 |
| Share Price - Preference Shares (US$)5 | 10.0 | - | - | - | - |
| Dividend | |||||
| Dividend Per Share (US cents) | 0.61 | 1.33 | - | 0.62 | 2.23 |
| Dividend Per Share (Singapore cents) | 0.84 | 1.80 | - | 0.78 | 2.77 |
| Dividend Yield (%) | 2.5 | 5.2 | - | 1.1 | 7.2 |
| Dividend Payout (%) | 50.0 | 50 | - | 50 | 75 |
| 1 | DMPL changed its fiscal year to end in April in line with its USA subsidiary Del Monte Foods, Inc. For 2012-2013, fiscal year was ending December. |
| 2 | DMPL adopted amendments to IAS 16 and IAS 41 (Agriculture: Bearer Plants in April 2017). The change in accounting standard was applied retrospectively. This involved reclassifying a portion of biological assets to plant, property and equipment leading to much higher depreciation expense. However, for EBITDA calculation, the Group retained the old calculation using the lower depreciation for comparability. For more information on these amendments, please refer to Note 3 of the financial statements. |
| 3 | The profitability of the Group from 2013-FY2017 had been impacted by non-recurring items mostly due to the acquisition of the US company. Please refer to the Operating and Financial Review section for more details. |
| 4 | DMPL was listed on 2 August 1999 on the Singapore Exchange (SGX) and on 10 June 2013 on the Philippine Stock Exchange (PSE). Singapore share prices are converted to US cents for the purpose of computing financial ratios. DMPL did a 2:10 Bonus Issue with ex-date of 9 April 2013. It also did a Rights Issue in March 2015. New shares issued resulted in a 33% dilution. |
| 5 | Preference Shares started trading on the Philippine Stock Exchange on 7 April 2017. |
| 6 | Dividend per share (Singapore cents) for FY2017 is based on an indicative exchange rate as the dividend has not been paid yet at the time of print. |
Contadina (only accessible in the Philippines)
Del Monte Foundationc/o 17 Bukit Pasoh Road Singapore 089831 Tel: (65) 6324 6822 Fax: (65) 6221 9477
