Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — 9M 2010 Earnings Presentation
23 slides from Golden Agri-resources's earnings presentation, Nov 11, 2010
Slide 1: Interim Performance Presentation
Interim Performance Presentation YTD Sep 2010 : nine-month period ended 30th September 2010 11 November 2010 0
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Golden Agri-Resources Ltd. (“GAR” or “Company”) for informational purposes, and may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are b
Slide 3: Table of Contents
Table of Contents Section 1 Executive Summary 3 Section 2 Financial Highlights 5 Section 3 Plantation Highlights 11 Section 4 Downstream Highlights 15 Section 5 Growth Strategy 18 Section 6 Recent Developments 20 2
Slide 4: Executive Summary
Mir ZF gar and food ; a | s 3] Section 1 Executive Summary
Slide 5: Executive Summary
Executive Summary 3Q 2010 results show strong recovery driven by higher palm products output and CPO prices Price (US$/MT) EBITDA (US$ million) Output (‘000 MT) • Stronger 3Q 2010 results vs 2Q 2010 900 160 Revenue $965 mn 33% EBITDA $163 mn 36% 800 Net Profit1 $99 mn 50% 120 Palm products output 60
Slide 6: Financial Highlights
Section 2 Financial Highlights
Slide 7: Financial Performance – YTD Sep 2010
Financial Performance – YTD Sep 2010 YTD YTD YoY US$ million Sep 2010 Sep 2009 Change Revenue 2,315 1,651 40% Gross Profit 567 350 62% EBITDA 424 272 56% Interest on borrowings -33 -37 -9% Depreciation and amortisation -61 -49 25% Foreign exchange gain/(loss), net 18 -4 n.m. Net Profit attributable
Slide 8: Financial Performance – 3Q 2010
Financial Performance – 3Q 2010 US$ million 3Q 2010 3Q 2009 YoY 2Q 2010 QoQ Change Change Revenue 965 673 43% 726 33% Gross Profit 225 156 44% 168 34% EBITDA 163 124 32% 120 36% Interest on borrowings -13 -13 -1% -11 18% Depreciation and amortisation -19 -17 13% -24 -19% Foreign exchange gain/(loss)
Slide 9: Segmental Results
Segmental Results Strong contribution from our Indonesia operations supported by China operations (in US$ million) Indonesia Operations China Operations YTD Sep 2010 YTD Sep 2009 Change YTD Sep 2010 YTD Sep 2009 Change Revenue 1,877 1,232 52% 438 418 5% Gross Profit 543 330 65% 25 20 22% Gross Profi
Slide 10: Revenue By Product and Geographical Location
Revenue By Product and Geographical Location YTD Sep 2010 revenue of US$2.3 billion mainly from CPO and refined palm oil based products Revenue - By Product Revenue - By Country Others PK Soybean Oil 4% 1% 4% Soybean Meal Indonesia 8% Local China Local 16% Branded 19% Products CPO 9% 46% Unbranded I
Slide 11: Financial Position
Financial Position Balance sheet remained strong with ample cash and low gearing (in US$ million) 30-Sep-10 31-Dec-09 Change Total Assets 8,412 7,900 6% Cash and Short-Term Investments 242 353 -31% Trade Receivables and Inventories 569 523 9% Fixed Assets1 6,814 6,460 5% Total Liabilities 2,662 2,36
Slide 12: Plantation Highlights
Section 3 Plantation Highlights
Slide 13: Plantation Area
Plantation Area GAR is the largest Indonesian plantation company with integrated operations (in ha) 30 Sep 30 Sep 30 Sep 2009/2010 31 Dec 2010 2009 % increase 2009 Planted Area 435,021 406,047 7.1% 427,253 Nucleus 345,582 319,426 8.2% 339,818 Plasma 89,439 86,621 3.3% 87,435 Mature Area 363,750 334,
Slide 14: Age Profile
Age Profile GAR’s long-term growth is supported by favourable age profile of planted area underpinned by large immature and young plantations Immature Young Prime Old 1 Old 2 Total (in ha) (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) Sep 2010 Nucleus 63,893 69,801 153,894 53,231 4,
Slide 15: Production Performance
Production Performance Production showed quarter-on-quarter improvement, but year-to-date performance was still lagging YTD YTD Sep 2010 Sep 2009 change 3Q 2010 2Q 2010 change FFB Production (‘000 tonne) 5,191 5,580 -7% 2,062 1,663 24% Nucleus 3,910 4,124 -5% 1,523 1,247 22% Plasma 1,281 1,456 -12%
Slide 16: Downstream Highlights
Section 4 Downstream Highlights
Slide 17: Downstream – Indonesia Operations
Downstream – Indonesia Operations Our Brands Capacity: 420,000 tpa Capacity: 300,000 tpa Capacity: 240,000 tpa Capacity: 420,000 tpa Refinery Plants Note: Data as of Sep 2010 • Our prominent cooking oil brands, Filma and Kunci Mas, are among the leaders in Indonesia Domestic • Nation-wide coverage w
Slide 18: Downstream – China Operations
Downstream – China Operations China is one of the largest and fastest growing edible oils consumers GAR will strategically expand its presence in China through organic growth and acquisition: z Construction of new vegetable oil refinery and soybean crushing facilities in Tianjin z Acquisition of Flo
Slide 19: Growth Strategy
Mir ZF gar and food 3] Section 5 Growth Strategy
Slide 20: Strategic Priorities
Strategic Priorities Build on core competitive strengths to maximise long-term shareholder returns Expand high-margin • Sustain growth through expansion of planted area upstream business • By way of green field and acquisition as and when opportunities arise • Increase downstream production capabili
Slide 21: Recent Developments
Section 6 Recent Developments 20
Slide 22: Progress with RSPO – Joint Announcement
Progress with RSPO – Joint Announcement 1. RSPO membership for GAR: Full membership application has been submitted. A provisional membership is being considered and full membership would be considered after we submit a time-bound certification plan by 31 Mar 2011. 2. RSPO certification: Engaged an i
Slide 23: Contact Us
Contact Us If you need further information, please contact: Golden Agri-Resources Ltd c/o 108 Pasir Panjang Road #06-00 Golden Agri Plaza Singapore 118535 Telephone : +65 65900800 Facsimile : +65 65900887 www.goldenagri.com.sg Contact Person : Rafael B. Concepcion, Jr. (rafaelc@goldenagri.com.sg) Su
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