Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — Q1 2012 Earnings Presentation
24 slides from Golden Agri-resources's earnings presentation, May 11, 2012
Slide 1: Interim Performance Presentation
Interim Performance Presentation YTD Mar 2012 : three month period ended 31st March 2012 three-month 11 May 2012 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 Pl t ti Plantation Hi Highlights hli ht 9 Section 4 Downstream Highlights 15 Section 5 Strategy and Outlook 18 Section 6 Appendix 21 2
Slide 4: Executive Summary
Agar ZF agribusiness and food Section 1 Executive Summary
Slide 5: Executive Summary
Executive Summary Strong quarter-on-quarter performance driven by higher CPO prices • Higher 1Q 2012 vs 4Q 2011 results despite Price (US$/MT) EBITDA (US$ million) Output (‘000 MT) weaker palm products output Revenue $1,519 mn 14% EBITDA $252 mn 40% Net Profit1 $162 mn 113% Palm products output 618,
Slide 6: Financial Highlights
Section 2 Financial Highlights
Slide 7: Financial Summary – 1Q 2012
Financial Summary – 1Q 2012 US$ million 1Q 2012 4Q 2011 QoQ 1Q 2011 YoY Change Change Revenue 1,519 1,328 14% 1,463 4% Gross Profit 454 386 17% 525 -14% EBITDA 252 181 40% 306 -18% Interest on borrowings -15 -17 -8% % -14 9% % Depreciation and amortisation -27 -26 5% -22 26% Foreign exchange gain, n
Slide 8: Segmental Results
Segmental g Results Strong contribution from our Indonesia operations supported by China operations (in US$ million) Indonesia Operations China Operations 1Q 2012 4Q 2011 Change 1Q 2012 4Q 2011 Change Revenue 1,258 1,035 22% 262 293 -11% 11% Gross Profit 435 373 16% 19 13 45% Gross Profit Margin 35%
Slide 9: Financial Position
Financial Position Strong balance sheet position with low gearing (in US$ million) 31-Mar-12 31-Dec-11 Change Total Assets 12,093 11,837 2% Cash and Short Short-Term Term Investments 306 370 -17% 17% Trade Receivables and Inventories 1,044 985 6% Fixed Assets1 9,628 9,565 1% Total Liabilities 3,825
Slide 10: Plantation Highlights
Section 3 Plantation Highlights
Slide 11: Plantation Area
Plantation Area GAR is the largest Indonesian plantation company with integrated operations (in ha) 31 Mar 31 Mar 31 Mar 2011/2012 31 Dec 2012 2011 % increase 2011 Planted Area 455,848 443,544 2.8% 455,660 Nucleus 360,703 353,450 2.1% 361,060 Plasma 95,145 90,094 5.6% 94,600 Mature Area 420,477 392,
Slide 12: Total Planted Area by Age Profile
Total Planted Area by Age Profile GAR’s long-term growth is supported by favourable age profile of planted area underpinned by large immature and young plantations 1Q 2012 1Q 2011 4% 8% 3% 11% 20% 21% 20% 20% 46% 47% Notes: Data as of 31 March 2012 and 31 March 2011 Average age of plantations is 13
Slide 13: Production Performance
Production Performance 1Q 2012 FFB and palm product production improved year-on-year 1Q 2012 1Q 2011 % increase (decrease) FFB Production (tonnes) 1,994,471 1,964,498 1.5% Nucleus 1,524,215 1,493,381 2.1% Plasma 470,256 471,117 -0.2% FFB Yield (tonne/ha) 4.74 5.00 -5.2% Palm Product Production (tonn
Slide 14: Holistic Approach to Sustainability
Holistic Approach pp to Sustainability y Certification updates • ISPO • GAR is supportive of the Indonesian Sustainable Palm Oil (ISPO) system • PT SMART and PT Ivo Mas Tunggal took part in the ISPO field trails in early 2011 to provide feedback and input on the implementation of ISPO standards by 2
Slide 15: Holistic Approach to Sustainability
Holistic Approach pp to Sustainability y Engaging multi-stakeholders PISAgro JFSS ICOPE (Partnership for Indonesia ((Jakarta Food Security y Summit)) ((International Conference on Sustainable Agriculture) Palm Oil and Environment) A new vision for agriculture initiative was JFSS is held by the Indon
Slide 16: Downstream Highlights
Section 4 Downstream Highlights
Slide 17: Downstream – Indonesia Operations
Downstream – Indonesia Operations p Consistent expansion of downstream capacity to focus our sales efforts toward higher value-added products Capacity p y Sales volume (‘000 tpa) (‘000 MT) Our Brands 1600 70 1400 60 Kernel crushing capacity 1200 50 Refinery capacity 1000 40 800 30 Branded sales volu
Slide 18: Downstream – China Operations
Downstream – China Operations p 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 Completed new vegetable oil refinery and soybean crushing facilities z Developing distribution channels
Slide 19: Strategy and Outlook
Section 5 Strategy and Outlook 18
Slide 20: Strategic Priorities
Strategic g Priorities Build on core competitive strengths to maximize long-term shareholder returns Leverage operating scale and relentless focus on operational excellence Upstream Downstream owth and Profitabiility Sustained Gro • Sustain growth through expansion of planted • Increase downstream c
Slide 21: Growth Strategy and Outlook
Growth Strategy and Outlook Growth Strategy in 2012 • Expanding palm oil plantations by 20,000 - 30,000 hectares • Building milling capacity in line with the growth in fruits production • Constructing additional downstream processing capacity in strategic locations • Extending distribution coverage
Slide 22: Appendix
Aext agribusiness and food Section 6 Appendix
Slide 23: Revenue By Product and Geographical Location
Revenue By Product and Geographical Location 1Q 2012 revenue of US$1.5 billion mainly from CPO and refined palm oil based products Revenue - By Product Revenue - By Country Others PK Soybean Oil 6% 1% 3% Soybean Meal 4% Branded Products CPO 8% 47% Unbranded P l Palm Products 31% Note: Data per March
Slide 24: 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 : Richard Fung (richard@goldenagri.com.sg) 23
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