Rusagro Group · RUS:RAGR
Rusagro — Ros Agro — 6M 2021 Earnings Presentation
25 slides from Rusagro's earnings presentation, Aug 16, 2021
Slide 1: Ros Agro PLC Investors Presentation 2Q and 6M 2021
AUGUST 16TH, 2021 ROS AGRO PLC INVESTORS PRESENTATION 2Q AND 6M 2021
Slide 2: Table of Contents
TABLE OF CONTENTS 2 1 Summary Key Indicators (IFRS) 2Q and 6M 2021 vs 2020 3 2 Business Overview by division (IFRS) 9 3 Additional information 18
Slide 3: Summary Key Indicators (IFRS) 2Q and 6M 2021 vs 2020
SECTION 1 SUMMARY KEY INDICATORS (IFRS) 2Q AND 6M 2021 VS 2020
Slide 4: Net Revenue, Adjusted EBITDA: 2Q 2021 vs 2Q 2020
NET REVENUE, ADJUSTED EBITDA: 4 2Q 2021 VS 2Q 2020 Net revenue (IFRS) 2Q 2021 vs 2Q 2020 +39% Comments (RUB + 15,211 million) 60,000 14,291 Net Revenue increased by RUB 15,211 million (+39%): 55,000 54,439 • Revenue of Sugar segment decreased by RUB 1,283 million (-14%) due to the decrease of sales
Slide 5: Net Revenue, Adjusted EBITDA: 6M 2021 vs 6M 2020
NET REVENUE, ADJUSTED EBITDA: 5 6M 2021 VS 6M 2020 Net revenue (IFRS) 6M 2021 vs 6M 2020 Comments +45% 120,000 (RUB + 32,210 million) Net Revenue increased by RUB 32,210 million (+45%): 110,000 24,837 • Revenue of Sugar segment increased by RUB 2,117 million (+15%) due to increase of sugar sales 104
Slide 6: Debt profile (as of 30 June 2021)
Debt profile (as of 30 June 2021) 6 Debt position and liquidity management Comments 30 June 31 December Variance in RR million 2021 2020 Units % Gross debt increased by RUB 66,626 million (+58%) up to RUB 181,555 million: Gross debt 181,555 114,929 66,626 58 • Net debt decreased by RUB 2,056 million
Slide 7: Statement of Financial Position: Key changes June 2021 vs 31 December 2020
Statement of Financial Position: 7 Key changes 30 June 2021 vs 31 December 2020 Assets as of 30 June 2021 vs 31 December 2020 370,000 Comments 6 202 18 360 051 360,000 1 671 62 947 (59) ASSETS 350,000 (525) • Cash & Investments** increased by RUB 62,947 million. For cash flow and investments 340,000
Slide 8: Cash Flows: 6M 2021 vs 6M 2020
Cash Flows: 6M 2021 VS 6M 2020 8 Cash Flows according to Management view (Not IFRS presentation)*** Comments RR m illion Variance Main variances in cash flow statement line items between 6M 2021 vs 6M 2020: 6M 2021 6M 2020 Units % Cash flow s from operating activities Net cash from operating activit
Slide 9: Business Overview by Division (IFRS)
SECTION 2 BUSINESS OVERVIEW BY DIVISION (IFRS) 2Q AND 6M 2021 VS 2020
Slide 10: Agriculture: Key indicators 2Q 2021 vs 2Q 2020
Agriculture 10 Key indicators 2Q 2021 vs 2Q 2020 (IFRS) Agriculture: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 12,000 60% 48% 10,000 50% Sales (RUB +2,349 million, +66%) Sales increase impact by main factors: • RUB +2,214 million of an increase in sales volume of wheat and soybean;
Slide 11: Agriculture: Key indicators 6M 2021 vs 6M 2020
Agriculture 11 Key indicators 6M 2021 VS 6M 2020 (IFRS) Agriculture: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 16,000 49% 50% 14,000 Sales (RUB +3,885 million, +49%) 11,887 40% Sales increase impact by main factors: 12,000 • RUB +3,116 million of an increase in sales volume of wheat
Slide 12: Oil & Fats: Key indicators 2Q 2021 vs 2Q 2020
Oil & Fats 12 Key indicators 2Q 2021 vs 2Q 2020 (IFRS) Oil & Fats: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 50 000 15% 13% Sales (RUB +14,291 million, +73%)*: 12% • Sales increase impact by main factors: RUB +14,412 million of price growth and RUB -279 40 000 million of the decreas
Slide 13: Oil & Fats: Key indicators 6M 2021 vs 6M 2020
Oil & Fats 13 Key indicators 6M 2021 VS 6M 2020 (IFRS) Oil & Fats: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 90,000 15% Sales (RUB +24,837 million, +68%)*: 80,000 12% 12% • Sales increase impact by main factors: RUB +25,067 million of sales price growth and RUB 70,000 -436 million o
Slide 14: Meat: Key indicators 2Q 2021 vs 2Q 2020
Meat 14 Key indicators 2Q 2021 vs 2Q 2020 (IFRS) Meat: Sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 20 000 25% Sales (RUB +2,351 million, +32%): 18% 20% Sales increase impact by main factors: 15 000 • RUB +2,174 million of sales price growth as a result of average sales price increase
Slide 15: Meat: Key indicators 6M 2021 vs 6M 2020
Meat 15 Key indicators 6M 2021 VS 6M 2020 (IFRS) Meat: Sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 25,000 20% 17% 17% Sales (RUB +4,103 million, +29%): Sales increase impact by main factors: 20,000 18,182 15% • RUB +3,619 million of sales price growth as a result to average sales pric
Slide 16: Sugar: Key indicators 2Q 2021 vs 2Q 2020
Sugar 16 Key indicators 2Q 2021 vs 2Q 2020 (IFRS) Sugar: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 14,000 30% Sales (RUB -1,283 million, -14%): 28% • Sugar sales decreased due to sales volume decrease of 46% (RUB -3,681 million) partially compensated 12,000 by sale price growth of 5
Slide 17: Sugar: Key indicators 6M 2021 vs 6M 2020
Sugar 17 Key indicators 6M 2021 VS 6M 2020 (IFRS) Sugar: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 25,000 30% Sales (RUB +2,117 million, +15%): 26% 25% • Sugar sales increased due to sale price growth (RUB +5,090 million) partially offset by sales volume 20,000 25% decrease of 22% (
Slide 18: Additional Information
SECTION 3 ADDITIONAL INFORMATION
Slide 19: Statement of Comprehensive Income (IFRS)
Statement of Comprehensive Income (IFRS) 19 ROS AGRO PLC RUB million Varianсes Varianсes Description 6M 2021 6M 2020 2Q 2021 2Q 2020 Units % Units % Sales 104,372 72,161 32,210 45 54,439 39,228 15,211 39 Net gain / (loss) on revaluation of biological assets and (435) 4,410 (4,845) (110) 1,591 4,324
Slide 20: Adjusted EBITDA 6M 2021 (IFRS) Breakdown by division
Adjusted EBITDA 6M 2021 (IFRS) 20 Breakdown by division ROS AGRO PLC RUB million Six months ended 30 June 2021 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 16,386 18,182 11,887 61,569 396 (4,047) 104,372 Net gain / (loss) on revaluation of biological assets and - 1,267 248 - - (1
Slide 21: Adjusted EBITDA 6M 2020 (IFRS) Breakdown by division
Adjusted EBITDA 6M 2020 (IFRS) 21 Breakdown by division ROS AGRO PLC RUB million Six months ended 30 June 2020 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 14,269 14,079 8,001 36,732 289 (1,208) 72,161 Net gain/ (loss) on revaluation of biological assets and - 594 3,512 - - 305 4
Slide 22: Statement of Cash Flows According to Management view
Statement of Сash Flows According to Management view 22 (Not IFRS presentation) ROS AGRO PLC RUB million 6M 2021 6M 2020 Variance Units % Cash flows from operating activities Profit before income tax 19 356 9 543 9 812 103 Adjustments for non-cash and non-operating (income)/expenses, net: Depreciati
Slide 23: Statement of Cash Flows According to Management view - continuance
Statement of Cash Flows According to Management view (Not 23 IFRS presentation) - continuance ROS AGRO PLC RUB million (*) Including in net Variance 6M 2021 6M 2020 cash flows on financial Units % assets related to Cash flows from investing activities - financial activities. Purchases of property, p
Slide 24: Statement of Financial Position (IFRS)
Statement of Financial Position (IFRS) 24 ROS AGRO PLC RUB million 30 June 31 December Variances 2021 2020 Units % ASSETS 360,051 276,149 83,902 30 Current assets Cash and cash equivalents 52,075 11,867 40,208 339 Restricted cash 37 144 (107) (75) Short-term investments 42,301 19,584 22,717 116 Trad
Slide 25: Statement of Financial Position (IFRS) - continuance
Statement of Financial Position (IFRS) 25 - continuance ROS AGRO PLC RUB million 30 June 31 December Variances 2021 2020 Units % Liabilities and EQUITY 360,051 276,149 83,902 30 Current liabilities Short-term borrowings 116,206 51,753 64,453 125 Lease liabilities 926 944 (18) (2) Trade and other pay