PT Mandom Indonesia Tbk : INVESTOR BRIEF 2023-Q4

INVESTOR BRIEF

FY 2023

MARKET HIGHLIGHTS

• Both topline and bottomline recorded positive growth.
• Sales grew by 0.3% driven by domestic and export sales which grew by 0.3% respectively.
• Net income grew by 110.5% compared to previous year.
• Fragrance category grew by 8.9% compared to previous year.
• LUCIDO-Lreceived Best Hair Treatment Award for LUCIDO-L Triple Beauty Vitamin Oil in the Female Daily Best of Beauty Award 2023.
• PIXY Make It Glow Techno-Fixed Matte Primer received Best Primer Award in the Female Daily Best of Beauty Award 2023.

BUSINESS RESULTS

Statements of Income

Rp Million	FY2023	FY2022 *	Balance	%Growth
Net Sales	2.050.460	2.044.821	5.639	0,3%
COGs	(1.643.849)	(1.633.386)	(10.463)	0,6%
Gross Profit	406.611	411.435	(4.824)	-1,2%
Operating Expenses	405.798	405.588	210	0,1%
Operating Income	813	5.847	(5.034)	-86,1%
Net Income	38.116	18.109	20.007	110,5%
Comprehensive Income	49.095	35.441	13.654	38,5%
Basic Loss per Share (in Rp)	-	-

Statements of Financial Position

Rp Million	Dec 31, 2023	Dec 31, 2022 *	Balance	%Growth
Current Assets	1.639.341	1.594.566	44.775	2,8%
Non-Current Assets	752.225	786.092	(33.867)	-4,3%
Total Assets	2.391.566	2.380.658	10.908	0,5%
Current Liabilities	175.292	221.011	(45.719)	-20,7%
Non-Current Liabilities	330.487	304.859	25.628	8,4%
Equity	1.885.787	1.854.788	30.999	1,7%
Total Liabilities & Equity	2.391.566	2.380.658	10.908	0,5%
Net Working Capital	1.464.049	1.373.555	90.494	6,6%

Statements of Cash Flows

Rp Million

FY2023

FY2022 *

Balance

%Growth

Capital Expenditure

55,878

47,466

8,412

17,72%

SALES

Net Sales by Geographical

Rp Million	FY2023	FY2022	Balance	%Growth
Domestic	1.331.313	1.327.525	3.788	0,29%
Export	719.147	717.296	1.851	0,26%

Net Sales by Category

Rp Million	FY2023	FY2022	Balance	%Growth
Men's	1.112.814	1.105.264	7.550	0,68%
Women's	921.147	920.120	1.027	0,11%
Others	16.499	19.437	(2.938)	-15,12%

Net Sales by Segment

Rp Million	FY2023	FY2022	Balance	%Growth
Skin Care & Make Up	737.699	754.747	(17.048)	-2,26%
Hair Care	842.667	856.059	(13.392)	-1,56%
Fragrance	454.671	417.325	37.346	8,95%
Others	15.423	16.690	(1.267)	-7,59%

HAIR CARE

Continuously Innovating to Provide Product Variety

Sales of hair care category slightly slowing down by 1.6% compared to previous year due to tighter competition especially in hair styling market.

As the largest contributor to sales, hair care category is among the Company's focus in terms of new products. The changes of consumer behaviour and preferences had inspired GATSBY to introduce new types of hair styling products in order to encourage new users. For GATSBY, in 2023 the Company launched GATSBY The Nature Styling Balm Series which is expected to strengthen GATSBY's position in the market as a market leader amidst tighter competition.

While LUCIDO-L brand also continues to be strengthened with the presence of the new product LUCIDO-L Serum Boost Hair Mask.

Hair Care

856.059

-1,6% 842.667

+8,7%

787.281

FY2021

FY2022

FY2023

HAIR CARE - ACTIVITIES

LUCIDO-L Triple Beauty Vitamin Oil

as Best Hair Treatment

GATSBY The Nature Styling BALM

Lucido-L Serum Boost Hair Mask Campaign

SKIN CARE & MAKEUP

Skin Care & Makeup
	754.747	-2,3%
18.2%		737.699

638.726

Focus on Base Makeup

Cosmetic market up until October 2023 continued to record positive growth. Nevertheless, this growth was followed by increasing competition. Throughout the year 2023, many new brands were launched and were able to grow rapidly and significantly. These new brands rapidly launched products in line with consumer trend and needs. In addition, these newcomers also carried out massive marketing campaign and gave significant impact to consumer intention.

Therefore, considering the increasing competition, PIXY implemented strategy by focusing on category which serves as PIXY strength namely base makeup, in order to maintain market share. In addition, PIXY also constantly launches new products in decorative makeup category to meet with market demand for quality products with affordable price. Among the products launched was PIXY Mousse Moment, lip decorative product with 6 shades variants.

FY2021

FY2022

FY2023

SKIN CARE & MAKEUP - ACTIVITIES

PIXY Mousse Moment Campaign	Focus on Base Makeup	PIXY Make It Glow Techno-Fixed
		Matte Primer as Best Primer

FRAGRANCE

Female Fragrance Gains Market Approval

Fragrance

The positive market growth in female fragrance market is influenced by the changing consumer behavior who switched from EDC (eau de cologne) or cologne spray type to EDT (eau de toilette) or EDP (eau de parfum) fragrance. This has made sales of EDT/EDP products continues to grow significantly in the past three years while sales of other product types tend to stagnate and even starting to show a declining trend.

Furthermore, the next challenge emerged due to the decline of consumer purchasing power which made products launched must offer affordable price. While in fragrance product category, consumers today prefer products with glass bottle packaging for an exclusive image.

For the Company, as we can see on the chart, this category continues to show

411.758 +1,3%

454.671

+8,9%

417.325

positive performance. Several new products launched in 2023 were well accepted by the market such as PUCELLE Eau de Luxe Parfum, GATSBY Eau de Bold Series, and several series of LOVILLEA.

FY2021

FY2022

FY2023

FRAGRANCE - ACTIVITIES

GATSBY Eau de BOLD

Lovillea Eau de Parfum Hijab Mood

PUCELLE Eau de Luxe Parfum