Investor Presentaiton
Food Segment
16% B2C volume growth affirming B2C expansion driven by Pasta, Noodles, Semovita and Goldenvita offerings"
Volume contribution per category
FMN
Food and Agro-Allied Group
FOOD SEGMENT
H1'24 H1'23 % Chg Q2'24 Q2'23
% Chg
Revenue
653.5
445.7
47 349.8 232.5
50
Profit before tax
(13.8)
0.1
(12,368)
(2.4) (4.5)
(47)
•
•
The Food segment recorded 7% volume and 47% Revenue increase in
H1'24 despite significant increases in wheat costs (caused by both
international wheat prices and Naira devaluation) due to the following;
܀
Modest price increase.
* Optimization of material cost through grist optimization in key
categories (Premium Flour, Semovita and Pasta) while still
maintaining quality.
܀
SKU expansion and flavour additions within existing key brands
including Pasta 400g, Noodle Flavor additions (Jollof Hot Hot)
and launch of Golden Bites Chin Chin and Tomato Jos paste
(commenced a distribution partnership).
Enhanced redistribution investments to drive retail outlets/point
of sale penetration. B2C volumes up by 16% vs LY.
Manufacturing footprint optimization of our plants inclusive of
the Honeywell plants to improve operational efficiency while
reduce costs.
PBT was impacted by FX losses of N36bn due to exchange rate
volatility with an improvement in Q2 and overall situation stabilizing.
FMN
Food and Agro-Allied Group
FLOUR MILLS OF NIGERIA PLC | INVESTOR PRESENTATION H1'24
59% Flour
24% Pasta
B2C-41%
9%
Ball foods
B2B-59%
5%
Others
3%
Noodles
Egusi's
Paddy
My soup's first choice.
GOLDEN PENNY
SEMOVITA
Premier Quality SemblView entire presentation