Seafarms Group Limited · ASX:SFG
Seafarms — H1 FY22 Earnings Presentation
13 slides from Seafarms's earnings presentation, Feb 28, 2022
Slide 1: Half Year Results Presentation
ASX Announcement | 28 February 2022 Seafarms Group Limited (ASX:SFG) SFG ASX Announcement No: 721 Half Year Results Presentation Enclosed is the Half Year Results Presentation for the period ending 31 December 2021. Approved and authorised for release by the Board of Seafarms Group. For further info
Slide 2: 2022 Half Year Results Presentation
INSERT IMAGE (removed due to file size) 2022 Half Year Results Presentation 28 February 2022 1
Slide 3: First Half FY22 Operational Overview – Financial Performance
First Half FY22 Operational Overview Overview – Financial Performance • Operating revenue for the 6 months ending 31 December 2021 was $15.4m (up 3% on 1H FY21) representing improved sales of both fresh and frozen product • Total production for the 6 month period ending 31 December was 288 tonnes (u
Slide 4: First Half FY22 Operational Overview – Financial Position
First Half FY22 Operational Overview Overview – Financial Position • Cash and cash equivalents increased to $70m (30 June 2021: $0.5m), due to raising of equity. A total of $132.8m was raised during the year, which included two related party loans of $22.76m that were converted to equity resulting i
Slide 5: Business Update
A “Sea Business Update
Slide 6: Agenda
Agenda ⚫ Corporate changes ⚫ PSD update ⚫ Project review – COVID delays in access via WA and international travel mean the review is now expected to complete in late March ⚫ Emerging strategy ⚫ Appendix – PSD Pre-Development Expenses 5
Slide 7: SFG Corporate Changes - as previously advised
SFG Corporate Changes - as previously advised Business / ⚫ Mick McMahon (CEO) and Ian Brannan (CFO) commenced in September 2021 management ⚫ Updated market on PSD costs and Financing process ⚫ Perth office closed and registered office moved to Darwin ⚫ SFG and Project Sea Dragon overhead costs revie
Slide 8: Project Sea Dragon update – as previously advised
Project Sea Dragon update – as previously advised ⚫ Capital raise for PSD construction completed in June 2021 ⚫ Construction progressively mobilised through latter half of 2021 ⚫ PSD Cost update provided to the market in October 2021 ⚫ Updated on project financing on 1 Nov 2021 ⚫ Announced PSD Proje
Slide 9: Project Sea Dragon – Legune status of work
Project Sea Dragon – Legune status of work – as previously advised ⚫ Main construction activity has been at Legune in the NT ⚫ 21x 1ha Nursery Ponds are under construction, with 8 of those ponds having embankments at full height prior to Wet Season suspension ⚫ Work on pre-cast pond inlet and outlet
Slide 10: Project Sea Dragon Project review – to complete by the end of March
Project Sea Dragon Project review – to complete by the end of March PSD Review ⚫ With funding not being closed prior to end 2021 we have Workstreams taken the opportunity to review all aspects of PSD Prawn value Economic ⚫ Clear pressures from COVID and related restrictions and chain Modelling impac
Slide 11: Seafarms – Emerging Strategy – as previously advised
Seafarms – Emerging Strategy – as previously advised Increase ⚫ Clear opportunity to increase domestic production to meet existing customer requirements domestic ⚫ Rebalance QLD production to best meet demand for high quality, fresh product volumes ⚫ Meet domestic customer demand for Banana prawns a
Slide 12: Appendix - PSD Pre-Development Expenses
Appendix - PSD Pre-Development Expenses Total Operating Capital Category Expenditure1 Expenditure Expenditure Comments $m $m $m Ponds & Inlet structures 8.9 4.7 4.2 Primarily relates to expensing of mobilisation costs Access Roads (incl Quarry Expensing of mobilisation costs and the application of c
Slide 13: Disclaimer
Disclaimer This presentation is provided for information purposes only. The information in this presentation is in a summary form, does not propose to be complete and is not intended to be relied upon as advice to investors or other persons. The information contained in this presentation was prepare