Elders Limited · ASX:ELD
Elders — H1 FY2013 Earnings Presentation
14 slides from Elders's earnings presentation, May 31, 2013
Slide 1: 2013 Half-Year Results Discussion and Analysis
31 May 2013 2013 Half-Year Results Discussion and Analysis Attached is the discussion and analysis of the financial results for the 6 month period ended 31 March 2013. Peter Hastings Company Secretary 1
Slide 2: FY13 H1 Financial Results Discussion and Analysis
FY13 H1 Financial Results Discussion and Analysis F13H1 Financial Results Results for the 6 months ended 31 March 2013 Discussion and Analysis 31 May 2013 Results for the 6 months ended 31 March 2013 31 May 2013
Slide 3: Abbreviations & Definitions
31 May 2013 Abbreviations & Definitions 2013 First Half Financial Results 2012 and FY12: 12 months ended 30 September 2012 Discussion and Analysis 2013 and FY13: 12 months ended 30 September 2013 F13 H1 and F12 H1: first half year: i.e. six months to 31 March of 2013 or 2012 F13 H2 and F12 H2: secon
Slide 4: Reconciliation of Statutory and Underlying Profit
As at balance date, the Company has determined the process relating to the proposed Reconciliation of Statutory and Underlying Profit divestment of Automotive is sufficiently advanced to require classification of the division as ‘held for sale’, and the Forestry disposal groups continue to meet the
Slide 5: Reported and Underlying Profit measures
Reported and Underlying Profit measures Movement in Underlying Profit Before Tax Profit: Reported and Underlying Profit Movement Analysis $m 6 m onths ended 31 March: F13 H1 F12 H1 F/(UF) $m 6 m onths ended 31 March: Underlying EBIT (10.7) 16.8 (164%) F12 H1 Underlying profit/(loss) before tax 7.2 N
Slide 6: Key Profit and Loss Items
Key profit and loss items for the year include: Key Profit and Loss Items Continuing sales revenue of $751.9m was down 13% or $(108.6m), with $(10.5m) Key Profit & Loss items relating to operations wound down in F12 (wool indent) and $(98.1m) relating to ongoing Rural Services operations: $m 6 m ont
Slide 7: Cash Flow
Cash Flow Operating cash flow Cash Flow Positive cash generation from Rural Services in F13 H1 was more than offset by cash outflow from Corporate, Automotive and Forestry. $m 6 months ended 31 March: F13 H1 F12 H1 F/(UF) Rural Services and Corporate generated operating cash inflow of $0.3m. Feature
Slide 8: Balance Sheet and Finance
Balance Sheet and Finance Assets and liabilities The Company, at 31 March 2013, resolved that the Futuris Automotive divestment had Balance Sheet: key items progressed to a stage where it was appropriate to classify the Automotive segment as held for sale and as a discontinued operation. Both Forest
Slide 9: Review of Operations: Rural Services
Review of Operations Rural Services Rural Services Underlying EBIT declined due to challenging seasonal and market conditions $m 6 m onths ended 31 March: F13 H1 F12 H1 F/(UF) impacting the agribusiness sector in F13 H1. The three main factors contributing to the change in underlying earnings have b
Slide 10: Australian Network
Sales Revenue and Margin: Extreme temperatures were recorded in F13 H1 with the Australian Network second warmest spring and hottest summer on record. These high temperatures and Australian Network much below average spring and summer rainfalls across Southern and Eastern Australia resulted in lower
Slide 11: New Zealand Network
New Zealand Network Underlying EBIT was $0.9m higher despite the whole of the North Island and much of New Zealand Network the South Island experiencing an extensive drought. $m 6 months ended 31 March: F13 H1 F12 H1 F/(UF) Sales Revenue and Margin: Lower sales occurred across all products in the Ne
Slide 12: International Trading
International Trading Trading Underlying EBIT decreased $(3.8m) due to lower global cattle trading margins and $m 6 m onths ended 31 March: F13 H1 F12 H1 F/(UF) increased costs, partly offset by improved profitability from in-country owned and operated Indonesian operations. Global Cattle Trading -
Slide 13: Automotive
GM Holden, with assistance from Federal and State governments has secured the Automotive build of two new cars in Australia beyond their recently refreshed portfolio which should see production certainty out to 2022. The Ford Falcon and Territory will be updated in Automotive 2014 with production co
Slide 14: Corporate (Investment and Other)
Corporate (Investment and Other) Corporate - Investment & Other $m 6 m onths ended 31 March: F13 H1 F12 H1 F/(UF) Income - - - Costs (3.0) (4.3) 30% Underlying EBIT (3.0) (4.3) 30% Items excluded from underlying EBIT (11.6) (0.4) n/m Reported EBIT (14.6) (4.7) (211%) Operating cash flows (24.1) (13.