AGRANA Beteiligungs-AG · VIE:AGR
AGRANA Beteiligungs-AG — Q3 2008|09 Earnings Presentation
23 slides from AGRANA Beteiligungs-AG's earnings presentation, Jan 14, 2009
Slide 1: Results of Q1 - Q3 2008|09
AGRANA Beteiligungs-AG Results of Q1 - Q3 2008|09 January 14, 2009|1 (1 March – 30 November 2008)
Slide 2: Key Messages for Q3 2008|09
Key Messages for Q3 2008|09 + - ¾ Normalisation of raw material and ¾ Global economic downturn energy prices ¾ Customers are more tentative ¾ Bioethanol: full production with ¾ Increase of price pressure in the food increased revenues industry ¾ Sugar market develops towards balance ¾ High volatilit
Slide 3: Key Financials
Key Financials Q3 Q3 Q1-Q3 Q1-Q3 in m€ 2007|08 2008|09 2007|08 2008|09 Revenues 485.3 550.0 1,418.7 1,595.5 Operating Profit before exceptional items 33.0 27.5 87.4 19.7 Operating Profit after exceptional items 30.6 27.5 83.4 17.4 Net result for the period 13.1 5.3 49.7 (16.1) AGRANA turnaround in O
Slide 4: Segment Revenues
Segment Revenues in m€ +12.5% 1,595.5 1,600 1,418.7 1,400 -3.7% 620.7 1,200 644.5 1,000 Fruit 800 397.3 Starch 194.9 % 600 +103.8 Sugar 400 -0.3% 579.2 577.6 200 0 Q1 - Q3 2007|08 Q1 - Q3 2008|09 January 14, 2009|4
Slide 5: Segment Revenues
Segment Revenues Q1 - Q3 2007|08 Q1 - Q3 2008|09 January 14, 2009|5
Slide 6: SUGAR
SUGAR. AGRANA is the leading producer of sugar in Central and Eastern Europe (CEE). January 14, 2009|6
Slide 7: SUGAR Segment Highlights Q1 – Q3 2008|09
SUGAR Segment Highlights Q1 – Q3 2008|09 Revenues SUGAR in m€ • Revenues 614.9 m€ (before Intercompany consolidation) o Revenues increased by 3.3% compared 595.3 614.9 to reporting period 2007|08 402.1 o Higher quota sugar sales o Prices under pressure due to EU sugar market regime • Operating Profi
Slide 8: STARCH
STARCH. AGRANA is a well positioned starch specialist in Europe. January 14, 2009|8
Slide 9: STARCH Segment Highlights Q1 – Q3 2008|09
STARCH Segment Highlights Q1 – Q3 2008|09 Revenues STARCH in m€ • Revenues 423.1 m€ (before intercompany consolidation) o Higher Bioethanol sales in Austria and Hungary 423.1 270.7 o Higher sales prices for certain starch 231.9 products for the food industry o Increased isoglucose sales o Animal fee
Slide 10: Status Bioethanol
Status Bioethanol o Austria: Legal framework unchanged - Mandatory substitution by biofuels 5.75% from 1 October 2008 - Political aim in Austria: 10% substitution from 2010 o Ethanol prices - no correlation with Petrol prices nor with grain prices, but with world market sugar prices o Increased prof
Slide 11: FRUIT
FRUIT. AGRANA is world’s leading supplier of fruit preparations and fruit juice concentrates. January 14, 2009|11
Slide 12: FRUIT Segment Highlights Q1 – Q3 2008|09
FRUIT Segment Highlights Q1 – Q3 2008|09 Revenues FRUIT in m€ • Revenues 620.7 m€ (before intercompany consolidation) o Juice: lower market prices as a consequence of lower raw material 644.5 620.7 prices 408.4 o Fruit: higher sales prices, lower sales volumes o Downturn after H1 2008|09 partly comp
Slide 13: Financial results Q1 – Q3 2008|09
Financial results Q1 – Q3 2008|09 January 14, 2009|13
Slide 14: Consolidated Profit and Loss Account (based on IFRS)
Consolidated Profit and Loss Account (based on IFRS) Q3 Q3 Q1-Q3 Q1-Q3 Key P&L figures in m€ 2007|08 2008|09 2007|08 2008|09 Revenues 485.3 550.0 1,418.7 1,595.5 Operating Profit before exceptional items 33.0 27.5 87.4 19.7 Exceptional items (2.4) 0 (4.0) (2.3) Operating Profit after exceptional ite
Slide 15: Balance Sheet
Balance Sheet in m€ 29 February 2008 30 November 2008 Non-current assets 1,077.2 1,066.3 Current assets 1,126.8 1,123.2 Total equity 922.1 873.3 Non-current liabilities 412.9 301.9 Current liabilities 869.0 1,014.3 Balance sheet total 2,204.0 2,189.5 Equity Ratio 41.8% 39.9% January 14, 2009|15
Slide 16: Consolidated Cash-flow Statement
Consolidated Cash-flow Statement in m€ Q3 2007|08 Q3 2008|09 Operating Cash-flow before change in working capital 103.0 72.7 Gains on disposal of non-current assets (2.6) (5.8) Change in working capital (168.9) (76.5) Net cash used in operating activities (68.5) (9.6) Net cash used in investing acti
Slide 17: Development of net financial debt (NFD)
Op er NF at in D 29 in m€ gC /0 as 2/ hf 20 lo w 08 be January 14, 2009|17 567.7 fo re W Ch C‐ ch an ge a ng in e 73 W or k in gC ap ita Re l 39 str uc tu r ing le v ie s ‐116 Di v id en CA d s PE ‐28 Xe xc l. se Re str cu uc rit tu i es r ‐50 ing co m pe ns at io n 0 Development of net financial de
Slide 18: Investment
Investment Total Investment Q1 – Q3 2008|09 48.9 m€ 157.2 in m€ 160 24.3 140 120 100 Fruit 80 97.9 Starch 60 Sugar 48.9 40 18.1 20 17.2 34.9 13.6 0 Q1 - Q3 2007|08 Q1 - Q3 2008|09 January 14, 2009|18
Slide 19: Outlook
Outlook January 14, 2009|19
Slide 20: Outlook
Outlook • SUGAR Segment o AGRANA expects a slight decline of revenues in FY 2008|09 o Margin decline in CEE due to weakening currencies o Refinery in Brcko, Bosnia, with positive earnings contributions from FY 2009|10 • STARCH Segment o Dynamic sales growth expected to continue in the fourth quarter
Slide 21: Outlook
Outlook Development of Operating Result before exceptional items in m€ 120 111 105 90 75 54 57 60 ~40 45 ~30 30 15 (8) 0 -15 H1 07|08 H1 08|09 H2 07|08 H2 08|09e FY 07|08 FY 08|09e January 14, 2009|21
Slide 22: Outlook
Outlook • CAPEX of 75 m€ below depreciation in FY 2008|09 • Necessary credit lines for FY 2008|09 and 2009|10 secured • AGRANA reacts on the volatile market environment with efficiency and cost measures • Regain of profitability, because of stabilisation of major input factors and bigger continuatio
Slide 23: Disclaimer
Disclaimer This presentation is being provided to you solely for your information and may not be reproduced or further distributed to any other person or published, in whole or in part, for any purpose. This presentation comprises the written materials/slides for a presentation concerning AGRANA Bet
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