Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — Q1 2009 Earnings Presentation
19 slides from Golden Agri-resources's earnings presentation, May 15, 2009
Slide 1: Interim Performance Presentation
Interim Performance Presentation YTD Mar 2009 : three-month period ended 31st March 2009 15 May 2009 0
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Golden Agri-Resources Ltd. (“GAR” or “Company”) for informational purposes, and may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are b
Slide 3: Table of Contents
Table of Contents Section 1 1Q 2009 Performance Summary 3 Section 2 1Q 2009 Financial Highlights 5 Section 3 1Q 2009 Operational Highlights 10 Section 4 Growth Strategy 14 2
Slide 4: Executive Summary
‘cam gar Ww ZF gar and food Section 1 Executive Summary
Slide 5: 1Q 2009 Performance Summary
1Q 2009 Performance Summary • 1Q 2009 achieved positive operating results despite extreme volatility in the global market • Delivered EBITDA of US$45 million and net profit1 of US$9 million • Lower Revenue and Net Profit1 by 45% and 94%2, respectively compared to 1Q 2008 • Lower average selling pric
Slide 6: 1Q 2009 Financial Highlights
Section 2 1Q 2009 Financial Highlights
Slide 7: Financial Summary – 1Q 2009
Financial Summary – 1Q 2009 US$ million 1Q 2009 1Q 2008 YoY Change Revenue 412 747 -45% Gross Profit 63 265 -76% EBITDA 45 202 -78% Interest on borrowings -11 -9 16% Depreciation and amortisation -16 -13 17% Foreign exchange (loss) gain, net -3 5 n.m Net Profit attributable to equity holders1 9 136
Slide 8: Segmental Results
Segmental Results (in US$ million) Indonesia Operations China Operations 1Q09 1Q08 %Change 1Q09 1Q08 %Change Revenue 288 585 -51% 124 163 -24% Gross Profit 56 256 -78% 7 8 -12% Gross Profit Margin 19% 44% -25% 6% 5% 1% EBITDA 40 196 -80% 5 6 -5% EBITDA Margin 14% 33% -19% 4% 4% - Net Profit attribut
Slide 9: Revenue By Product and Geographical Location
Revenue By Product and Geographical Location 1Q 2009 revenues of US$412 million mainly from CPO and refined palm oil based products Revenue - By Product Revenue – By Country Others PK 4% 1% Soybean Oil 7% Indo Local CPO China Local 27% Soybean 37% 30% Meals 14% Branded Palm Products Indo Export 13%
Slide 10: Financial Position
Financial Position Strong balance sheet with low debt to equity ratio (in US$ million) 31-Mar-09 31-Dec-08 % Change Total Assets 6,793 6,826 -0.5% Cash and Short-Term Investments 138 138 0.4% Receivables and Inventories 702 757 -7.2% Fixed Assets (including Biological Assets) 5,785 5,766 0.3% Total
Slide 11: 1Q 2009 Operational Highlights
Section 3 1Q 2009 Operational Highlights
Slide 12: Plantation Area
Plantation Area GAR is the largest Indonesian plantation group with integrated operations (in ha) 31 Dec 31 Mar 31 Mar 31 Mar 2008/2009 2008 2008 2009 % increase Planted Area 391,642 363,642 395,774 8.8% Nucleus 307,604 281,511 311,331 10.6% Plasma 84,038 82,131 84,443 2.8% Mature Area 308,821 309,1
Slide 13: Age Profile
Age Profile GAR’s long-term growth is supported by favourable age profile of planted area underpinned by large immature and young plantations Immature Young Prime Old Total (in ha) (0-3 years) (4-6 years) (7-18 years) (>18 Years) 1Q 2009 Nucleus 58,346 43,881 166,066 43,038 311,331 Plasma 3,071 3,40
Slide 14: Production Highlights
Production Highlights 1Q 2009 fruits and palm product production decreased by 17% owing to weather-related problems 1Q 2009 1Q 2008 % increase (decrease) FFB Production (tons) 1,476,770 1,782,897 -17% Nucleus 1,103,547 1,331,714 -17% Plasma 373,222 451,183 -17% FFB Yield (ton/ha) 4.42 5.77 -23% Palm
Slide 15: Growth Strategy
‘cam gar Ww ZF gar and food Section 4 Growth Strategy
Slide 16: Strategic Priorities
Strategic Priorities Build on core competitive strengths to maximise long-term shareholder returns • 2009 target planted area of 30,000 ha and normalised target additional planted Expand high-margin area of 50,000 ha per annum upstream business • Split between green field vs acquisition to be assess
Slide 17: Growth Strategy for 2009
Growth Strategy for 2009 Expanding Oil Palm Plantations • Target new planting area of 30,000 ha 4,100 ha achieved in 1Q 2009 • Completing a mill in Kalimantan with annual processing capacity of 200,000 tons • Building two new mills in Kalimantan and a mill in Sumatra with total annual processing cap
Slide 18: 1Q 2009 Performance Summary
1Q 2009 Performance Summary • 1Q 2009 achieved positive operating results despite extreme volatility in the global market • Delivered EBITDA of US$45 million and net profit1 of US$9 million • Lower Revenue and Net Profit1 by 45% and 94%2, respectively compared to 1Q 2008 • Lower average selling pric
Slide 19: Contact Us
Contact Us If you need further information, please contact: Golden Agri-Resources Ltd c/o 3 Shenton Way #17-03 Shenton House Singapore 068805 Website : www.goldenagri.com.sg Telephone : +65 62207720 Facsimile : +65 62207020 Contact Person : Rafael B. Concepcion, Jr. (rafaelc@goldenagri.com.sg) Suwan
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