Rusagro Group · RUS:RAGR
Rusagro — Ros Agro — 9M 2021 Earnings Presentation
25 slides from Rusagro's earnings presentation, Nov 15, 2021
Slide 1: Ros Agro PLC Investors Presentation 3Q and 9M 2021
NOVEMBER 15TH, 2021 ROS AGRO PLC INVESTORS PRESENTATION 3Q AND 9M 2021
Slide 2: Table of Contents
TABLE OF CONTENTS 2 1 Summary Key Indicators (IFRS) 3Q and 9M 2021 vs 3Q and 9M 2020 3 2 Business Overview by division (IFRS) 9 3 Additional information 18
Slide 3: Section 1: Summary Key Indicators (IFRS)
SECTION 1 SUMMARY KEY INDICATORS (IFRS) 3Q AND 9M 2021 VS 3Q AND 9M 2020
Slide 4: Net Revenue, Adjusted EBITDA: 3Q 2021 vs 3Q 2020
NET REVENUE, ADJUSTED EBITDA: 4 3Q 2021 VS 3Q 2020 Net revenue (IFRS) 3Q 2021 vs 3Q 2020 Comments +45% 60,000 (RUB + 16,603 million) Net Revenue increased by RUB 16,603 million (+45%): 55,000 14,568 53,204 • Revenue of Sugar segment growth by RUB 917 million (+13 %) was partially offset by the (465)
Slide 5: Net Revenue, Adjusted EBITDA: 9M 2021 vs 9M 2020
NET REVENUE, ADJUSTED EBITDA: 5 9M 2021 VS 9M 2020 Net revenue (IFRS) 9M 2021 vs 9M 2020 Comments +45% 180,000 (RUB + 48,814 million) Net Revenue increased by RUB 48,814 million (+45%): 39,405 157,576 • Revenue of Sugar segment increased by RUB 3,034 million (+14%) which was partially offset 160,000
Slide 6: Debt profile as of 30 September 2021
Debt profile as of 30 September 2021 6 Debt position and liquidity management 30 September 31 December Variance Comments in RR million 2021 2020 Units % Gross debt 190,236 114,929 75,307 66 Gross debt increased by RUB 75,307 million (+66%) up to RUB 190,236 million: Short-term borrowings 125,764 51,
Slide 7: Statement of Financial Position: Key changes September 2021 vs 31 December 2020
Statement of Financial Position: 7 Key changes 30 September 2021 vs 31 December 2020 Assets as of 30 September 2021 vs 31 December 2020 400,000 Comments 380,000 5 210 22 698 378 335 ASSETS 6 903 57 425 930 • Cash & Investments** increased by RUB 57,425 million. For cash flow and investments 360,000
Slide 8: Cash Flows: 9M 2021 vs 9M 2020
Cash Flows: 9M 2021 VS 9M 2020 8 Cash Flows according to Management view (Not IFRS presentation)* Comments RR million Variance 9M 2021 9M 2020 Main variances in cash flow statement line items between 9M 2021 vs 9M 2020: Units % Cash flows from operating activities Profit before income tax 37 522 15
Slide 9: Section 2: Business Overview by Division (IFRS)
SECTION 2 BUSINESS OVERVIEW BY DIVISION (IFRS) 3Q AND 9M 2021 VS 3Q AND 9M 2020
Slide 10: Agriculture: Key indicators 3Q 2021 vs 3Q 2020
Agriculture 10 Key indicators 3Q 2021 vs 3Q 2020 (IFRS) Agriculture: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 12,000 60% 53% Sales (RUB +74 million, +1%) 10,000 50% Sales change is insignificant. 43% EBITDA margin 8,000 40% RUB million RUB -1,146 million changes in sales volume: 6,
Slide 11: Agriculture: Key indicators 9M 2021 vs 9M 2020
Agriculture 11 Key indicators 9M 2021 VS 9M 2020 (IFRS) Agriculture: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 30,000 60% 25,000 51% 50% Sales (RUB +3,959 million, +27%) EBITDA margin 20,000 34% 18,711 40% Main changes in sales volume: RUB million • RUB +3,647 million of an increase
Slide 12: Oil & Fats: Key indicators 3Q 2021 vs 3Q 2020
Oil & Fats 12 Key indicators 3Q 2021 vs 3Q 2020 (IFRS) Oil & Fats: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 60,000 17% 20% Sales (RUB +14,568 million, +82%)*: 50,000 15% • Sales increased supported by increased sales volumes of crude oil, consumer dairy products, 8% 10% meal and dr
Slide 13: Oil & Fats: Key indicators 9M 2021 vs 9M 2020
Oil & Fats 13 Key indicators 9M 2021 VS 9M 2020 (IFRS) Oil & Fats: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 160,000 14% 15% Sales (RUB +39,405 million, +72%)*: 140,000 • Sales growth supported by the increase in sales volumes of crude oil, industrial fats and 11% 120,000 consumer d
Slide 14: Meat: Key indicators 3Q 2021 vs 3Q 2020
Meat 14 Key indicators 3Q 2021 vs 3Q 2020 (IFRS) Comments Meat: Sales, Adjusted EBITDA and Adjusted EBITDA margin 25,000 35% 30% Sales (RUB +1,509 million, +17%): 30% 20,000 Sales increased as a result of positive market dynamics for all meat product categories. 25% EBITDA margin RUB million Adjuste
Slide 15: Meat: Key indicators 9M 2021 vs 9M 2020
Meat 15 Key indicators 9M 2021 VS 9M 2020 (IFRS) Meat: Sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 45,000 25% Sales (RUB +5,611 million, +25%): 22% 40,000 • Sales increased mainly due to positive market dynamics for all meat product categories. 20% 35,000 18% • Sales volumes growth by
Slide 16: Sugar: Key indicators 3Q 2021 vs 3Q 2020
Sugar 16 Key indicators 3Q 2021 vs 3Q 2020 (IFRS) Sugar: Sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 14,000 25% Sales (RUB +917 million, +13%): 12,000 • Sugar sales increase was partially offset by the sales volume decrease of 12% (RUB -770 21% 21% million); 10,000 EBITDA margin 20% •
Slide 17: Sugar: Key indicators 9M 2021 vs 9M 2020
Sugar 17 Key indicators 9M 2021 VS 9M 2020 (IFRS) Sugar: Sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 35,000 30% Sales (RUB +3,034 million, +14%): 24% 24% 30,000 25% • Sugar sales increase war partially offset by the sales volume decrease of 19% (RUB -3,526 million); 24,112 25,000 EBIT
Slide 18: Section 3: 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 9M 2021 9M 2020 3Q 2021 3Q 2020 Units % Units % Sales 157,576 108,762 48,814 45 53,204 36,601 16,603 45 Net gain / (loss) on revaluation of biological assets and 10,570 5,429 5,141 95 11,005 1,019 9,
Slide 20: Adjusted EBITDA 9M 2021 (IFRS) Breakdown by division
Adjusted EBITDA 9M 2021 (IFRS) 20 Breakdown by division ROS AGRO PLC RUB million Nine months ended 30 September 2021 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 24,112 28,458 18,711 93,959 539 (8,202) 157,576 Net gain / (loss) on revaluation of biological assets and - 1,333 10,5
Slide 21: Adjusted EBITDA 9M 2020 (IFRS) Breakdown by division
Adjusted EBITDA 9M 2020 (IFRS) 21 Breakdown by division ROS AGRO PLC RUB million Nine months ended 30 September 2020 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 21,078 22,847 14,751 54,554 397 (4,865) 108,762 Net gain/ (loss) on revaluation of biological assets and - 823 3,638 -
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 9M 2021 9M 2020 Variance Units % Cash flows from operating activities Profit before income tax 37,522 15,727 21,795 139 Adjustments for non-cash and non-operating (income)/expenses, net: Deprecia
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 Variance 9M 2021 9M 2020 (*) Including in net Units % cash flows on financial Cash flows from investing activities - assets related to Purchases of property, plant and equipment (8,
Slide 24: Statement of Financial Position (IFRS)
Statement of Financial Position (IFRS) 24 ROS AGRO PLC RUB million 30 September 31 December Variances 2021 2020 Units % ASSETS 378 335 276 149 102 186 37 Current assets Cash and cash equivalents 56 965 11 867 45 098 380 Restricted cash 0 144 (144) (100) Short-term investments 31 266 19 584 11 682 60
Slide 25: Statement of Financial Position (IFRS) - continuance
Statement of Financial Position (IFRS) 25 - continuance ROS AGRO PLC RUB million 30 September 31 December Variances 2021 2020 Units % Liabilities and EQUITY 378 335 276 149 102 186 37 Current liabilities Short-term borrowings 125 764 51 753 74 011 143 Lease liabilities 1 101 944 157 17 Trade and oth