PowerPoint 프레젠테이션 - IRGO · 2020. 6. 5. · China Sales Trend.8 ‘15 ’16 Vietnam...

ORION : www.orionworld.com

Ticker 271560KS

ORION Holdings : www.oriongroup.co.kr

Ticker 001800KS

1Q. 2020

Current Market Situation of Orion

Financial Highlights

Orion Headquarter Korea

Global Orion (China, Vietnam, Russia)

1

EUROPEASIA

AFRICA

OCEANIA

N.AMERICA

S.AMERICAPresent Market

Target Market

Export

Local Co.

Local Office.

KOREA CHINARUSSIA

Pan Orion Corp.(Holding Company)

2

Dubai

Indonesia

Japan

U.S.A

Iran

Philippines

Myanmar

India

Expansion around the Globe for the Global F&B Player

KOREA CHINA VIETNAM

Current Market Situation of Orion

Orion & NH

(Joint Venture Company)

Orion Japan Branch

OFC (Orion Food Co. Beijing)

OFS (Orion Food Shanghai)

OFG (Orion Food Guangzhou)

OFSY(Orion Food Shenyang)

INDONESIA

Delfi-OrionOrion Corp.(Parent Company)

OFV(Orion Food Vina)

OIE(Orion International Euro)

INDIA

Orion

Nutritionals

3

Financial Highlights

Orion Headquarter Korea

Global Orion (China, Vietnam, Russia)

Current Market Situation of Orion

10.3(6%)

4

Concentration on Orion’s strong points

Confectionery

Entertainment Growth (yoy) EBIT margin

2%

7%

Group Revenue Trend Group EBIT Trend

(Unit : Wbn)

102%

1%

11%

248.9

8%

314.0

(105%)

13%

299.3

(Based on K-IFRS) Amended Revenue Recognition from ‘17

15 16 17 18

5%

0%

15 16 17 18

311.5

(95%)

326.2

14%

95%

9%

95%

2,382.42,386.3

1,849.5

2,238.4(94%)

142.0(6%)

2,260.8(95%)

125.9(5%)

1,746.8(94%)

102.7(6%)

1.6(1%)

252.7(102%)

15.3(5%)

169.7

Financial Highlights

19 19

1,926.9(97%)

68.5(3%)

1,995.4

282.2

(98%)

159.4

(94%)

287.4

14%

14.1(5%)

5.2(2%)

8%

2,023.3(96%)

78.7(4%)

2,102.0

1Q.20 1Q.20

97.0

(98%)

99.0

2.0(2%)

17%

5%

539.8(94%)

32.0(6%)

571.8

5

Key financial ratio (ORION)

17 18 17 18

33.2%

8.0

Net debtto Equity

(%)

Interestcoveragemultiple

EBITDA

(Unit : Wbn)

CAPEX

Gross Debt

Net Debt

Cash

152.9

254.0

599.7

152.4

EBITDA & CAPEX Net Debt to Equity

447.4

Financial Highlights

19 19

2017 2018 2019 1Q.2019

KoreaEBITDA 113.6 131.2 147.8 40.3

CAPEX 64.2 61.9 43.4 9.4

ChinaEBITDA 72.0 210.2 224.3 63.9

CAPEX 58.4 33.2 45.4 6.6

VietnamEBITDA 43.2 51.1 60.8 19.6

CAPEX 16.9 36.9 22.7 16.3

RussiaEBITDA 17.0 11.7 17.0 4.7

CAPEX 13.5 3.0 8.7 1.4

239.3

195.8

435.1

16.1%

399.9

135.0

16.8

Debt ratio

69%59%

1Q.20

450.3

129.3

1Q.20

50.7

236.1

286.8

3.0%

30.0

47%

128.738.2

-0.6

294.7

294.2

45%

Net Cash

0.6

51.0

Financial Highlights

Orion Headquarter Korea

Global Orion (China, Vietnam, Russia)

Current Market Situation of Orion

6

8

Streamlined Value Chains

16 17 18

EBITDA

EBIT

EBITDA margin

EBIT margin

15 16 17 18

(Unit : Wbn)

Sales Trend

649.1

-5.3%

14.7%

129.7

20.0%

95.1

Local

Growth

612.8

-5.6%

78.7

115.5

18.8%

12.8%

621.2

81.6

113.6

18.3%

13.1%

Profit Trend

Orion Headquarter Korea

719 19

653.4131.2

14.1%

15

20.1%

92.2

5.2%

(Based on K-IFRS) Amended Revenue Recognition from ‘17

1Q.20

672.2

147.8

16.0%

22.0%

107.8

1Q.20

2.9%

176.940.3

17.0%

22.8%

30.0

6th Step Smart PackageProject

1stReducePackage

Size+

2nd

Increase

Volume+

3rdGreen

PackageII

Relentless Innovation (6 steps)

89.5

Trans Fat 0%Saturated Fat AcidReducing Project

Green Package Project

DR.YOU Project

Market O Project

HEALTH NUTRITION WELLNESS

Olive Oil

(Swedish AAK with R&D)

SunflowerSeed Oil

Bean Oil NoToluene

CFP Balance

(Carbohydrate, Fat, Protein)

0% Synthetic Additive

1st Step 2nd Step 3rd Step 4th Step 5th Step

8

Orion Headquarter Korea

Current Market Situation of Orion

Financial Highlights

Global Orion (China, Vietnam, Russia)

Orion Headquarter Korea

9

9

ChinaPan Orion(China Holding Co.)

OFC (Orion Food Co. Beijing)

OFS (Orion Food Co. Shanghai)

OFG (Orion Food Co. Guangzhou)

OFSY (Orion Food Co. Shenyang)

OBC (Orion Food Co. Bei Tun)

Vietnam

OFV (Orion Food Vietnam)

Hanoi, Ho chi minh

1,3

32.9

1,3

46.0

’18‘15 ’16

China Sales Trend

139.8

‘15 ’16

Vietnam Sales Trend

RussiaOIE (Orion International Euro, Moscow)

‘15 ’16

Russia Sales Trend

Overseas Total (Wbn)

1,5

89.3

1,6

48.0

1,1

30.5

HanoiOFV

HCMC

NovoTver

Pan Orion

OIE

‘15 ‘16 ’17

58.1

Global Orion's Unraveling Jewel (Overseas)

170.8

61.2

794.8

’17

’17

’17

192.7

77.3

Global Orion ( China, Vietnam, Russia)

10

’18

’18

’18

933.0

216.3

64.9

1,2

64.2

(Based on K-IFRS) Amended Revenue Recognition from ‘17

’19

974.4

’19

230.2

’19

77.3

‘19

1,3

39.3

1Q’20

262.9

1Q’20

65.7

1Q’20

19.8

1Q‘20

360.9

1. China – Changing crisis into New Opportunity

EBITDA

EBIT

15 16 17 18

285.6

202.1

15.2%

21.4%

277.9

20.6%

198.6

72.0

9.1%

Sales Trend Profit Trend

Local

16 17 18

(Unit : Wbn)

1,332.91,346.0

794.8

14.8%

11

Global Orion ( China, Vietnam, Russia)

19 1915

EBITA margin

EBIT margin

933.0

22.5%

2.4%

19.2

141.6

210.2

15.2%

19.2

(Based on K-IFRS) Amended Revenue Recognition from ‘17

1Q.20

974.4

1Q.20

23.0%

158.6

224.3

16.3%

262.9

24.3%

47.3

63.9

18.0%

1815 16 17

0%

20%

40%

60%

80%

100%

PIE

SNACK

GUM, Candy

BISCUIT

10%

36%

16%

BISCUIT based on unique products

41%

1. China – Expanding Unique & Strong Brand Portfolio

39%

21%

10%

30%

41%

20%

8%

31%

35%

17%

8%

40%

Pie

Unbreakable market leadership with Choco Pie

Gum & Candy

Another opportunity segment

Biscuit

Based on unique products

Snack

Competitive edge in chip market

Sales Break down Product Mix

12

Global Orion ( China, Vietnam, Russia)

7%

19

10%

35%

16%

42%

7%

1Q.20

33%

13%

50%

4%

2. Vietnam - Hub Market for South-East Asia

Local

(Unit : Wbn)

15 16 17

139.8

170.8

EBITDA

EBIT EBIT margin

EBITDA margin

15 16 17 18

21.9

13.3

9.5%

35.7

26.536.0

15.5%

18.7%

13

Global Orion ( China, Vietnam, Russia)

18 19 19

192.7

Sales Trend Profit Trend

216.3

15.7%

20.9%

22.4%

43.2

41.0

51.1

23.6%

19.0%

(Based on K-IFRS) Amended Revenue Recognition from ‘17

1Q.20

230.2

1Q.20

47.8

60.8

26.4%

20.8%

65.715.9

19.6

29.8%

24.2%

2. Vietnam – Increasing Brand Power

1815 16 17

0%

20%

40%

60%

80%

100%

PIE

SNACK

55%

17%

26%23%

20%

4%

53%

26%

17%

3%

54%

30%

16%

1%

53%

GUM, CANDY

BISCUIT

14

Global Orion ( China, Vietnam, Russia)

Sales Break down Product Mix

Pie

Gum

Biscuit

Snack

2%

19

48%

16%

33%

3%

1Q.20

43%

16%

37%

4%

21

1915 16 17 18

Local

(Unit : Wbn)

58.1

10.2%

61.2

16.2%

22.0%

Sales & Profit Trend

3. Russia – Special Position in Western Market

EBIT margin

EBITDA margin

Profit Trend

EBITDA

EBIT

1915 16

5.9

17

9.9

18

17.0

3.5

7.7

14.3

77.3

15

Global Orion ( China, Vietnam, Russia)

(76%)

Pie

(77%)(83%) (80%)

64.9

8.0

11.7

12.3%

6.0%

12.6%

18.5%

18.0%

(Based on K-IFRS) Amended Revenue Recognition from ‘17

1Q.20

(83%)

77.3

12.9

17.0

16.7%

22.0%

1Q.20

(84%)19.8

3.6

4.7

18.3%

23.8%

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