Slide 1: Camilleri Stockfeeds and the Rendering Industry
Ridley RidleyCorporation Corporation For personal use only Camilleri Stockfeeds and the Rendering Industry June 2011 1
Slide 2: Australian rendering production
Australian rendering production For personal use only 2009 kt Red Poultry Feather Blood Fish Tallow Poultry Fish MBM Meal Meal Meal Meal Oil Oil Qld 153.0 10.0 5.0 10.3 - 202.0 9.8 1.1 NSW 113.0 27.0 14.0 8.0 1.7 135.0 26.0 - Vic 105.0 15.5 6.3 7.5 - 101.0 15 - SA 50.0 3.3 1.5 2.3 0.3 33.0 2.9 - Tas
Slide 3: Australian sector usage
Australian sector usage For personal use only 1% 9% 18% 39% 33% * Source: Guide Only - Australian Rendering Association and Ridley estimates 3
Slide 4: Poultry Rendering Locations
Poultry Rendering Locations For personal use only AJ Bush, Beaudesert Baiada, Tamworth Baiada, Kurri Kurri Camilleri, Maroota Baiada, Griffith AJ Bush, Rouse Hill Master Butchers, Wingfield Inghams, Wingfield Master Butchers (ex Dalriada), Keith Australian Tallow Baiada, Footscray Producers, Brookly
Slide 5: Camilleri Stockfeeds Pty Ltd overview
Camilleri Stockfeeds For personal use only Camilleri Stockfeeds Pty Ltd (CSF) is both a renderer of poultry bones, blood, feathers, offal and fish offal, and a trader of protein and oil based products for the aquaculture, pet, poultry, and stockfeed industries 5
Slide 6: Acquisition completed March 2011
Camilleri Stockfeeds For personal use only Acquisition completed 1 March 2011 CSF represents an ideal bolt on for Ridley: Manageable size and wholly debt fundable EPS accretive (at least 5%) with robust reliable earnings and opportunities for growth Strong cash conversion Synergies with
Slide 7: Overview
Camilleri Stockfeeds For personal use only Overview Poultry and fish only Blending capacity Finished product storage capabilities Export licences and only holder of EU licence AQIS accredited for importing Capacity to handle greater volumes and scaleability potential No environmental p
Slide 8: Acquisition metrics
Camilleri Stockfeeds For personal use only Acquisition metrics Acquisition consideration in $’000: Cash 31,162 1 Equity instruments 1,000 2 Contingent cash consideration 2,860 3 Total consideration 35,022 Fair values of net assets at acquisition of $19.1m, goodwill of $15.9m . Normalis