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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%
