Investor Presentaiton
Financial Performance
Solid revenue and bottom-line performance year on year
FY2021 Profit Evolution (N'bn)
197.8
(156.9)
(8.5)
11.4
FY20 PAT
Revenue
Cost of sales
OPEX
Increase
FMN
Food and Agro-Allied Group
(15.4)
1.3
1.3
(5.4)
25.7
Net op. gains
Investment income
Finance costs
Taxation
FY21 PAT
Decrease
Total
•
Strong revenue growth, largely driven by the increase in volumes (+6% compared to the previous year)
•
Increased focus on local content and investments in backward integration in order to strengthen the value chain, despite higher costs of sales,
driven by the costs of raw materials
Net operating losses primarily driven by N12.2bn exchange losses and N1.7bn hedge valuations during first HY (no negative impact in Q4)
•
PAT soars off the back of continued bottom-line expansion in the agro-allied and B2C segment
FLOUR MILLS OF NIGERIA PLC | INVESTOR PRESENTATION FULL YEAR 2021
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