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Swift Foods, Inc.

Main Activities: Food Manufacturing

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Company Information

Full name
Swift Foods, Inc.

Headquarters
RFM Corporate Ctr Pioneer cor Sheridan Sts; Mandaluyong; National Capital Region; 1550
Status: Listed
Legal Form: Public Limited Company
Operational Status: Operational
CIBI: AS94005066
Financial Auditors: SyCip, Gorres, Velayo & Company (2011)
Incorporation Date: June 6, 1994
Total Employees: 60

Tel: (63 2) 6318101

Company Description

Swift Foods, Inc. (SFI) is a food manufacturer under the RFM Group. SFI's businesses are classified into two divisions, the agribusiness division and the meat division. Agribusiness includes poultry and feeds including live and processed chickens, wherein 70% of these products are sold to its distributors and 30% are sold to supermarkets, restaurants, fast food chains and others. This division has a hatchery farm in Tagaytay City, two broiler farms in Rizal and Bulacan and a dressing plant in
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Company Analysis

According to the Consolidated - Non-Audited financial statement for the first three cumulated quarters of 2012, total net operating revenues decreased with -80.02%, from PHP 310,939 thousands to PHP 62,120 thousands. Operating result increased from PHP -51,748 thousands to PHP -8,426 thousands which means 83.72% change. The results of the period increased 72.79% reaching PHP -19,026 thousands at the end of the period against PHP -69,911 thousands last year. Return on equity (Net income/Total equity) went from -190.66% to -113.71%, the Return On Asset (Net income / Total Asset) went from -6.42% to -1.87% and the Net Profit Margin (Net Income/Net Sales) went from -22.48% to -30.63% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 6172.42% compared to 2870.70% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 0.06 to 0.04 when compared to the previous year.

Key Executives

Jose S Concepcion Chairman
Jose S Concepcion Chief Executive Officer
Luis Bernardo A. Concepcion President
Alejandrino Ferreria Director
Alfredo Parungao Director
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Balance Sheet

Total Assets

1,016,037

1,023,116

Current Assets

37,444

44,352

Total Liabilities

1,032,769

1,033,459

Shareholders Equity

-16,732

-10,343

Current Liabilities

957,453

958,304

* All the accounts are in PHP.
Income Statement

Total Operating Revenue

62,120

43,255

Operational Profit (Loss)

-8,426

-2,038

Net Profit (Loss)

-19,026

-12,638

* All the accounts are in PHP.
Ratios
Profitability Ratios

Return on Assets (ROA)

-1.87%

-1.24%

Annualised Return on Assets (ROA)

-2.49%

-2.48%

Return on Equity (ROE)

113.71%

122.19%

Annualised Return on Equity (ROE)

151.61%

244.38%

Return on Sales (ROS)

-34.06%

-33.29%

Return on Capital

113.71%

122.19%

Gross Profit Margin

17.11%

18.69%

Operating Profit Margin

-25.58%

-18.86%

Efficiency Ratios

Accounts Receivable Turnover

15.44x

11.84x

Inventory Turnover

18.26x

9.81x

Current asset turnover

1.49x

0.86x

Fixed-asset turnover

0.06x

0.04x

Asset Turnover

0.06x

0.04x

Valuation figures and ratios

Earning Before Interests and Taxes (EBIT)

-8,426

-2,038

EBITDA

-8,039

-1,868

Enterprise value

200,188

181,337

Enterprise Value / EBITDA

-24.90

-97.08

Bookvalue (BV)

917,642

924,721

Net Cash

-932,465

-924,498

Liquidity Ratios

Current Ratio

3.91%

4.63%

Quick ratio

3.65%

4.3%

Doom's day ratio

2.61%

3.53%

Leverage Ratios

Leverage ratio

-6,072.42%

-9,891.87%

Interest Coverage Ratio

-79.49%

-19.23%

Debt to equity

-6,172.42%

-9,991.87%

Debt to total assets

101.65%

101.01%

Long Term Debt to Capital

4.94%

4.93%

Debt / Enterprise Value

49.15%

54.26%

Market ratios

Market Capitalization/EBITDA

-15.77

-62.50

Price/Book Ratio

0.10

0.10

Market Cap / Net cash

-0.14

-0.13

Trend Ratios

Revenue Trend

18.36%

17.4%

Net Income Trend

27.21%

21.96%

Operating Income Trend

16.28%

5.76%