Agrana Beteiligungs-ag · VIE:AGR

Agrana Beteiligungs-ag — Non-Deal Roadshow (June 2024)

72 slides from Agrana Beteiligungs-ag's roadshow presentation, Jun 6, 2024

  1. Slide 1: Roadshow Paris

    THE NATURAL UPGRADE Roadshow Paris 6 June 2024 AGRANA Beteiligungs-AG AGRANA Online report 2023|24: reports.agrana.com/enA G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 1

  2. Slide 2: Contents

    Contents 1 Introduction & business overview 2 Strategy; AGRANA Management 3 FOCUS on ESG 4 Segment overview: Fruit, Starch and Sugar 5 War in Ukraine 6 Financials 2023|24 7 Outlook 2024|25 A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 2

  3. Slide 3: Introduction & business overview

    THE NATURAL UPGRADE Introduction & business overview AGRANA Group A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 3

  4. Slide 4: Everyone knows “Wiener Zucker“

    Everyone knows “Wiener Zucker“ A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 4

  5. Slide 5: We all consume AGRANA (products)

    Strategic positioning B2B We all consume AGRANA (products) At the beginning AGRANA refines AGRANA supplies ​ We all consume AGRANA there is always agricultural raw the Big Names...​ every day without agriculture…​ materials...​ noticing it...​ confectione r y, bevera ge, fermenta tion industries , f

  6. Slide 6: At a glance

    AGRANA products in daily life At a glance FRUIT STARCH SUGAR • Fruit juice concentrates • AGRANA produces starch and Sugar is sold to customers are fruit juice and special starch products • consumers via the food trade beverage bottlers and fillers • Starch is a complex carbohydrate and • Fruit prep

  7. Slide 7: Segmentation by segment

    55 Production sites worldwide Segmentation by segment FRUIT STARCH SUGAR 7 sugar beet plants 26 fruit preparation plants and 5 starch plants 2 raw sugar refineries & 14 fruit concentrate plants (incl. 2 bioethanol plants) 1 Instantina plant Czech Rep. Slovakia Austria Hungary* Romania* Bosnia- Herze

  8. Slide 8: Agricultural raw materials processed: 9.0 million tonnes

    2023|24 financial year Agricultural raw materials processed: 9.0 million tonnes 2% 9% Beet 5.7 million tonnes Raw sugar 0.3 million tonnes 22% Grain 2.0 million tonnes 3 Mio. t 6 Mio. t Potato 0.2 million tonnes 64% Fruits 0.8 million tonnes 3% A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0

  9. Slide 9: FOCUS on Food

    Revenue by product group (2023|24) FOCUS on Food FRUIT STARCH SUGAR € 1,566.9 m € 1,148.7 m € 1,071.3 m A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 9

  10. Slide 10: Our History

    AGRANA Group ACQUISITION of the American Our History organic distribution company EXPANSION Marroquin EXPANSION Of market position in Asia Organic of the company‘s through the acquisition of the International presence in the area Indian fruit processing plant of fruit preparations SAIKRUPA Fruit Pro

  11. Slide 11: Shareholder structure

    Current status Shareholder structure ~30% Rübenproduzenten Beteiligungs-GmbH ~50% ZBG ~70% Raiffeisen-Holding AGRANA NÖ-Wien Zucker, Stärke und Frucht Holding AG ~78.4% ~10% ~50% Südzucker ~2.7%1 Total: 62,488,976 shares ~18.9% 1 directly held by Südzucker A G R A N A | R o a d s h o w Pa r i s | 6

  12. Slide 12: Solid performance in FY 2023|24

    2023|24 financial year Solid performance in FY 2023|24 Despite continuing volatile business environment • We were able to record an operating profit (EBIT) of € 151.0 million (prior year: € 88.3 million) and thus delivered on our guidance of very significantly higher earnings than in the prior year

  13. Slide 13: Strategy AGRANA Management

    THE NATURAL UPGRADE Strategy AGRANA Management A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 13

  14. Slide 14: AGRANA at the intersection of three of the greatest challenges of our time

    AGRANA at the intersection of three of the greatest challenges of our time Feeding a growing world population Transformation of Climate change agriculture A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 14

  15. Slide 15: Value growth

    AGRANA Group Value growth Refiner of agricultural raw materials and supplier of natural ingredients and solutions EBITDA margin > 10% ROCE > 10% Strengthening Developing Further developing core business future markets organisation Sustainability A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0

  16. Slide 16: Strengthening core business

    Ad cornerstone 1 Strengthening core business Fruit segment Starch segment Sugar segment • More innovations, • Expansion of • Strengthening of brand added-value solutions specialties, optimisation and expansion of • New sales channels of portfolio specialties and markets • Innovation • Securing raw m

  17. Slide 17: Developing future markets

    Ad cornerstone 2 Developing future markets Plant-based Natural flavors proteins Biobased materials A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 17

  18. Slide 18: Strategic goals 2030+

    AGRANA Group Strategic goals 2030+ • From quantity to margin EBITDA- margin • Increasing focus on growth > 10% markets ROCE • Reducing dependence on > 10% volatile commodity markets A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 18

  19. Slide 19: Management Board since 1 March 2024

    AGRANA Group Management Board since 1 March 2024 CEO Stephan Büttner CTO Norbert Harringer CAO Stephan Meeder • Finance (CFO) • Production & Investment • Internal Audit • Compliance • Quality Management • Corporate Secretariat (line • Raw Materials authority) • Research and Development • Human Resou

  20. Slide 20: FOCUS on ESG

    THE NATURAL UPGRADE FOCUS on ESG AGRANA-Climate Strategy A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 20

  21. Slide 21: AGRANA's understanding of sustainability

    AGRANA‘s understandig of sustainability At AGRANA, we… • utilise almost 100% of the raw Ecology materials employed and use low- emission technologies to minimise impacts on the environment • respect all our stakeholders and the communities where we operate • engage in long-term partnerships Economy

  22. Slide 22: AGRANA's core subjects along the value chain

    AGRANA‘s core subjects along the value chain RAW MATERIAL ECO-EFFICIENCY OUR EMPLOYEES PRODUCT COMPLIANCE PROCUREMENT OF OUR RESPONSIBILITY PRODUCTION Environmental and social criteria in the Product Labour practices and Compliance and business sourcing of Environmental and responsibility and conduc

  23. Slide 23: AGRANA climate strategy

    AGRANA Sustainabilty AGRANA climate strategy Targets: 1) Net-zero emissions (scope 1+2) by 2040 2) Net-zero emissions (scope 3) by 2050 at the latest ▪ Verification of emission reduction targets by 2030 through recognised Science Based Targets Initiative (SBTi) in September 2023 Near-term targets by

  24. Slide 24: Milestone science based targets

    AGRANA climate strategy Milestone science based targets NEAR- SCOPE 1 SCOPE 2 SCOPE 3 TERM 2030 2030 (from 2019|20 base year) 50% abs. reduction of approx. 34% abs. reduction GHG emissions (incl. future FLAG Guidance) Science based targets validated in September 2023 LONG-TERM Net-zero emissions Net

  25. Slide 25: Focus Area @ AGRANA: Scope 1+2

    Scope 1+2 Focus Area @ AGRANA • Long-term commitment by 2040 (not SBTi validated) Photovoltaic installation|Austria Juice Kröllendorf − Switch to 100% renewable energy (scope 1+2) and net-zero emissions • Near-term target by 2030|31 (SBTi validated) on track ▪ - 50 % of emissions from 2019|20 base y

  26. Slide 26: Major emission reduction projects per division 2024 to 2030|31

    ESG Outlook Major emission reduction projects per division 2024 to 2030|31 ▪ In total, > 400 emission reduction projects were modelled until 2040 to achieve net-zero scope 1+2 emissions. ▪ Concrete projects, which have already been included in the medium-term planning up to 2027 and beyond up to 203

  27. Slide 27: Segment overview

    THE NATURAL UPGRADE Segment overview A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 27

  28. Slide 28: Fruit segment

    THE NATURAL UPGRADE Fruit segment A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 28

  29. Slide 29: Fruit segment: Business model

    Fruit segment Business model FRUIT PREPARATIONS FRUIT JUICE CONCENTRATES • Based on mostly frozen fruits • Based on fresh fruits • Tailor-made customer products • Production in the growing (several thousand recipes area of the fruits (water worldwide) content and quality of the • Customers: dairy, b

  30. Slide 30: Fruit preparation – what is it about?

    Fruit segment Fruit preparation – what is it about? FRUIT FRUIT SUGAR PREPARATIONS + = … most important … sweetens and … optional flavors ingredient of fruit supports taste and and colours for an preparations durability even fruitier taste • Frozen (IQF or • Crystal sugar and an intense block) • Liq

  31. Slide 31: Fruit segment: Market position

    Fruit segment Market position FRUIT PREPARATIONS Fruit preparations 26 FRUIT PREPARATION PLANTS & 14 FRUIT JUICE CONCENTRATE PLANTS • World Market Leader in Fruit preparations global market share ~40% • Most emerging markets are showing good market growth rates, while the market’s sales volumes of f

  32. Slide 32: Market environment – Highlights

    2023|24 financial year Market environment – Highlights Fruit segment: • Fruit preparations: business is back on track; stress factor here is the continuing difficult business trend in Asia • Fruit juice concentrate: situation in the fruit juice concentrate business remains very satisfactory; improve

  33. Slide 33: Raw materials and production – Highlights

    2023|24 financial year Raw materials and production – Highlights Fruit segment: ▪ About 336,000 tonnes of raw materials were purchased for the fruit preparations activities (prior year: 340,000 tonnes); lower consumption of raw materials is explained mostly by reduced demand in the Chinese plants ▪

  34. Slide 34: Starch segment

    THE NATURAL UPGRADE Starch segment A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 34

  35. Slide 35: Starch segment: Market position

    Starch segment Market position • Austrian production sites: STARCH − Potato starch factory in Gmünd 5 starch plants − Corn starch plant in Aschach (incl. 2 bioethanol plants) − Wheat starch & bioethanol plant in Pischelsdorf • Operational management and coordination of international holdings in Hung

  36. Slide 36: Specialisation strategy

    Starch segment Specialisation strategy FOOD • Growth in products from VALUE END PRODUCT special raw materials (market leadership) • Growth in starch Textile industry, construction derivatives for fruit DERIVATIVES, ETHERS AND ESTERS industry, cosmetic industry preparations • Growth in „high care“- F

  37. Slide 37: AGRANA bioethanol activities

    Starch segment AGRANA bioethanol activities PISCHELSDORF (Austria) • Total investment: € 125 million • Capacity: up to 240,000 m³ (= 190,000 tonnes) • Production start: June 2008 • Raw material base: wheat, corn and sugar beet thick juice* • Raw material base: wheat, corn, B+C starch slurry HUNGRANA

  38. Slide 38: E10 available in Austria since end of March 2023

    Starch segment E10 • AVAILABLE IN AUSTRIA SINCE THE END OF MARCH 2023 • AGRANA has been producing enough bioethanol for a 10% blend (E10) in Austria since 2008 • Before E10 introduction, 40% of production used for E5 blending; 60% exported, resulting in a loss of nearly 200,000 t GHG savings for Aus

  39. Slide 39: Market environment – Highlights

    2023|24 financial year Market environment – Highlights Starch segment: • Overall margin for starch products was successfully held stable for three quarters, despite the economy-driven challenges • Due to the significant fall in Platts prices, the performance in the ethanol operations was much weaker

  40. Slide 40: Ethanol and petrol prices

    Ethanol and petrol prices 1 January 2008 – 4 June 2024 FY 2023|24 Ethanol (Platts T2 spec.) | Fuel (PU-10PP-ARA) (EUR per m 3) 4 June 2024: Ethanol: 743.0 EUR/m3 Fuel: 534.4 EUR/m3 A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 40

  41. Slide 41: Raw materials and production – Highlights

    2023|24 financial year Raw materials and production – Highlights Starch segment: ▪ Raw material prices: decreasing trend on the spot markets ▪ AGRANA Stärke GmbH processed approximately 26% less corn at the Austrian sites in Aschach and Pischelsdorf than in the year before ▪ Wheat milling volume at

  42. Slide 42: Commodity prices

    Wheat & Corn (Euronext, Paris) Commodity prices FY 2023|24 1 January 2006 – 4 June 2024 Wheat | Corn (EUR per tonne) Whea t (Pa ris) 4 J une 2024 : 258.5 E UR /t Corn (Pa ris) 4 J une 2024: 221.0 E UR /t A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 42

  43. Slide 43: Sugar segment

    THE NATURAL UPGRADE Sugar segment A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 43

  44. Slide 44: AGRANA Sugar since the end of quotas

    Benefit from the strong market position in CEE and SEE AGRANA Sugar since the end of quotas • CEE area will continue to be a “sugar deficit 7 Sugar Plants and region” (AGRANA is located in these main deficit 2 Raw Sugar Refineries areas) • Complexity in logistics and costs from Western Europe are so

  45. Slide 45: Market environment – Highlights

    2023|24 financial year Market environment – Highlights Sugar segment: • Duty-free sugar imports from Ukraine are a challenge for AGRANA • In FY 2023|24, the upward trend in sugar prices initially continued, peaking at the beginning of December 2023; when speculative funds then liquidated the majorit

  46. Slide 46: EU and sugar world market prices

    Sugar price reporting EU and sugar world market prices € Source: Sugar Market situation; European Commission, published on 30 May 2024 A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 46

  47. Slide 47: Sugar quotations

    World market: white sugar & raw sugar Sugar quotations 1 January 2006 – 4 June 2024 FY 2023|24 White sugar | Raw sugar (USD per tonne) W h i t e su ga r ( L o n do n # 5 ) 4 J une 2024: 555.8 USD/t = 511.4 E UR /t R a w su ga r (ICE/NY #11) 4 J une 2024: 415.8 USD/t = 382.6 E UR /t A G R A N A | R o

  48. Slide 48: Raw materials and production – Highlights

    2023|24 financial year Raw materials and production – Highlights Sugar segment: ▪ Beet processing in the 2023 campaign went well, with significantly better capacity utilisation and a higher sugar production volume than in the previous year ▪ Further increase in beet planting acreage was achieved in

  49. Slide 49: War in Ukraine

    THE NATURAL UPGRADE War in Ukraine A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 49

  50. Slide 50: War in Ukraine

    AGRANA Group War in Ukraine • AGRANA in Ukraine since 1997 / 778 employees* • Two sites in Vinnitsa (300 km SW of Kiev) for production of fruit preparations and fruit juice concentrates • Agricultural production plant in Luka • Product sales largely in Ukraine Current situation • Current situation o

  51. Slide 51: AGRANA Fruit Russia

    AGRANA Group AGRANA Fruit Russia • AGRANA's presence in Russia is exclusively in the Fruit segment • Production of fruit preparations in Serpuchov, about 100 km south of Moscow • 292 employees* • Sales of products in Russia and other CIS countries • Task as supplier of essential staple foods and obl

  52. Slide 52: Financials 2023|24

    THE NATURAL UPGRADE Financials 2023|24 A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 52

  53. Slide 53: Overview – Key figures

    2023|24 financial year Overview – Key figures Revenue: € 3,786.9 m EBITDA 1 : € 291.1 m +4.1% +5.1% (2022|23: € 3,637.4 m) (2022|23: € 277.1 m) Operating profit 2 : € 176.7 m EBIT: € 151.0 m +11.6% +71.0% (2022|23: € 158.4 m) (2022|23: € 88.3 m) Earnings per share: € 1.04 Dividend 3 per share: € 0.9

  54. Slide 54: Revenue by segment

    2023|24 vs prior year Revenue by segment Group €m Fruit segment: 3,786.9 3,637.4 • Fruit preparations business: revenue increase was driven primarily by price, but also by volume • Fruit juice concentrate activities: revenue eased 1,566.9 1,481.9 slightly, with lower delivery volumes not fully offse

  55. Slide 55: EBIT by segment

    2023|24 vs prior year Fruit segment: EBIT by segment EBIT margin ▪ Fruit preparations: operating profit before exceptional 2023|24 items very significantly higher; net exceptional items €m expense of € 20.8 m due primarily to impairment of non - EBIT margin 2022|23 current assets in Asia had a negat

  56. Slide 56: Consolidated income statement

    Consolidated income statement €m (condensed) 2023|24 2022|23 Change Revenue 3,786.9 3,637.4 +4.1% EBITDA 1 291.1 277.1 +5.1% Operating profit before except. items and results of equity-accounted JV 176.7 158.4 +11.6% Share of results of equity-accounted JV 1.4 18.7 -92.5% Exceptional items (27.0) (8

  57. Slide 57: Exceptional items

    Exceptional items Split by segment €m 2023|24 2022|23 Change Exceptional items (27.0) (88.8) +69.6% thereof Fruit segment (Fruit preparations) (20.8) (91.1) +77.2% Fruit segment (Fruit juice concentrates) (3.9) 1.4 -378.6% Sugar segment (2.3) 0.9 -355.6% A G R A N A | R o a d s h o w Pa r i s | 6 J

  58. Slide 58: Energy costs and mix

    Energy costs and mix Energy costs Energy mix of the group of the group in FY 2023|24 €m 357.0 41.9 300.1 47.7 165.5 139.0 149.6 113.4 2022|23 2023|24 Sugar Starch Fruit A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 58

  59. Slide 59: Net financial items | Tax Rate

    Net financial items | Tax Rate €m 2023|24 2022|23 Change Net interest expense (32.3) (12.4) -160.5% Currency translation differences (18.4) (10.3) -78.6% Income from non-cons. subsidiaries and outside comp. 0.1 0.0 - Other financial items (2.7) (3.8) +28.9% Total (53.3) (26.5) -101.1% €m 2023|24 202

  60. Slide 60: Investment overview

    Most important projects in the group Investment overview 2023|24 financial year Group 127.3 Fruit segment: €m • Expansion of raw material storage in Jacona, Mexico • Expansion of the food service section in Centerville, Tennessee, USA 102.9 50.8 • New wastewater treatment plant in Ostrołęka, Poland

  61. Slide 61: Consolidated cashflow statement

    Consolidated cashflow statement €m (condensed) 2023|24 2022|23 Change Operating cash flow before changes in working capital 316.3 282.3 +12.0% Changes in working capital (46.1) (259.2) +82.2% Total in interest paid/received and tax paid (30.0) (21.2) -41.5% Net cash from operating activities 240.2 1

  62. Slide 62: Consolidated balance sheet

    Consolidated balance sheet €m (condensed) 29 Feb 2024 28 Feb 2023 Change Non-current assets 1,031.2 1,041.0 -0.9% Current assets 1,858.2 1,962.1 -5.3% Total assets 2,889.4 3,003.1 -3.8% Non-current liabilities 1,248.4 1,256.6 -0.7% Current liabilities 628.7 658.3 -4.5% Total equity and liabilities 1

  63. Slide 63: Dividend proposal (1)

    2023|24 financial year Dividend proposal (1) ▪ Dividend proposal to the Annual General Meeting (5 July 2024): € 0.90 per share for the 2023|24 financial year (2022|23: € 0.90 per share) ▪ AGRANA is committed to a predictable, reliable and transparent dividend policy focused on continuity o Distribut

  64. Slide 64: Dividend proposal (2)

    2023|24 financial year Dividend proposal (2) 3 Dividend proposal for 2023|24: 2.63 € 0.90 per share 3 2.24 EPS adj. 1.78 2 1.85 1.69 1.46 EPS adj. 2 1.43 EPS adj. 1.52 0.96 0.96 1.00 1.04 1 0.77 1.13 0.90 0.90 0.90 0.90 0.90 0.90 1.00 1.00 0.75 0.85 1 0.45 0.41 0.25 0 (0.20) -1 2012|13 2013|14 2014|

  65. Slide 65: Financial Outlook 2024|25

    THE NATURAL UPGRADE Financial Outlook 2024|25 A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 65

  66. Slide 66: Outlook for 2024|25

    AGRANA Group Outlook for 2024|25  EBIT 2024|25 Revenue 2024|25 ▪ At Group level for the full 2024|25 financial year, AGRANA expects a significant decrease in EBIT ▪ Group revenue is projected to show a slight reduction Foreca st uncerta i n t y a nd a ssumption s The wa r in Ukra ine , w hich ha s

  67. Slide 67: Outlook for 2024|25: Segments

    AGRANA Segments Outlook for 2024|25 Fruit Starch Sugar Revenue ➔ Revenue  Revenue  EBIT  EBIT  EBIT  A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 67

  68. Slide 68: Outlook for first quarter of 2024|25

    AGRANA Group Outlook for first quarter of 2024|25 Q1 2023|24 (3 months) EBIT: € 63.5 million Q1 2024|25 Full-year decline in results will already become apparent in EBIT the first quarter of 2024|25 A G R A N A | R o a d s h o w Pa r i s | 6 J u n e 2 0 2 4 68

  69. Slide 69: Investment plan

    Outlook for 2024|2025 Investment plan • Total investment across the three business Investment split 2024|25 segments in the 2024|25 financial year, at (€ ~120 million) approximately € 120 million • Is expected to be moderately below the 2023|24 25% value and thus only in line with the budgeted depre

  70. Slide 70: Financial calendar

    FY 2023|24 and FY 2024|25 Financial calendar 25 June 2024 Record date for participation in Annual General Meeting 5 July 2024 Annual General Meeting in respect of 2023|24 10 July 2024 Ex-dividend date 11 July 2024 Results for first quarter of 2024|25 11 July 2024 Record date for dividend 15 July 202

  71. Slide 71: Contacts

    Contacts Investor Relations Mr. Hannes Haider Phone: +43-1-211 37-12905 E-mail: investor.relations@agrana.com AGRANA Beteiligungs-AG Friedrich-Wilhelm-Raiffeisen-Platz 1 1020 Vienna, Austria www.agrana.com AGRANA Investor Relations: www.agrana.com/en/ir A G R A N A | R o a d s h o w Pa r i s | 6 J u

  72. Slide 72: Disclaimer

    Disclaimer This presenta tion is be ing provide d to you solely for your informa tion a nd ma y not be reproduced or further distributed to a n y other person or published, in whole or in pa rt, for a ny purpose. This presenta tio n comprises the written ma teria ls/slides for a presenta tion concer

AGRANA Beteiligungs-AG — Non-Deal Roadshow (June 2024) on 6ix