Agrana Beteiligungs-ag · VIE:AGR
Agrana Beteiligungs-ag — Investor Presentation (June 2014)
41 slides from Agrana Beteiligungs-ag's investor presentation, June 2014
Slide 1: General presentation 2014 AGRANA Beteiligungs-AG
General presentation 2014 AGRANA Beteiligungs-AG Vienna, June 2014 Unternehmenspräsentation 2013|14; Wien, Mai 2014
Slide 2: In our Hands
In our Hands At AGRANA, the globally operating processor of agricultural raw materials, an average of about 8,800 pairs of hands in the Sugar, Starch and Fruit business segments work for the economic future of the Group. In going about our work, it is important to us to consider the environmental im
Slide 3: Overview
Overview • About us... • Consolidated and ownership structure • History / Milestones • Revenue- and operating profit • Production plants • Strategy • Segment SUGAR • Segment STARCH • Segment FRUIT • Research & Development • Sustainability at AGRANA • Business figures 2013|14 • Outlook 3 | General Un
Slide 4: About us…
About us… • AGRANA is an Austrian industrial player which adds value to agricultural commodities to produce a wide range of industrial products for the processing sector. • Whith around 8,800 personnel based at 55 production facilities located around the world, AGRANA maintains a global presence and
Slide 5: Group structure
Group structure Beteiligungs-AG Segment Sugar Segment Starch Segment Fruit AGRANA J & F AGRANA ZUCKER GMBH (A) AGRANA STÄRKE GMBH (A) HOLDING GMBH (A) MORAVSKOSLEZSKÉ S.C. A.G.F.D. TANDAREI AGRANA FRUIT CUKROVARY A.S. (CZ) S.R.L. (RO) S.A.S. (F) MAGYAR CUKOR HUNGRANA KFT. (H) AUSTRIA JUICE GMBH (A)
Slide 6: Ownership structure
Ownership structure ~10% Raiffeisen-Holding NÖ-Wien Overall: 14,202.040 ~70% shares ZBG Südzucker ~30% Rübenproduzenten Beteiligungs GesmbH ~ 50% ~ 50% 6.5%2 Z&S 86.2%1 Zucker und Stärke Holding AG Increase in the actual free float is free float 1 exclusive call option to immediately Südzucker sough
Slide 7: History / Milestones
History / Milestones • 1988: AGRANA Beteiligungs-AG is set up to act as the umbrella for the merged Austrian sugar and starch industries („Bündelung der Kräfte“) • 1989: Strategic alliance with Südzucker • 1991: Stock market launch • Since 1991: Market expansion in Central and Eastern Europe • 2003:
Slide 8: AGRANA 1988-2014
AGRANA 1988-2014 Solid economic growth Revenue Operating Profit FY 13|14 3.043,4 mio. € Ø annual growth/Revenue: ~ 9.0% Ø annual growth Op. profit: ~ 8% 1.892,3 mio. € 171.4 mio. € 875.7 mio. 580.9 mio. € € 500.7 mio. 111.4 mio. € 355.8 mio. € € 80.5 mio. € 29,1 mio. € 24.7 mio. € 12.6 mio. € 8 | Ge
Slide 9: Revenue by segment
Revenue by segment 2013|14 FY €m 2013|14 3,065.9 -0.7% 3,043.4 38.5% 33.6% 1,140.1 +2.8% 1,172.1 27.9% +5.5% 804.3 848.5 2012|13 1,121.5 -8.8% 1,022.8 37.2% 36.6% 26.2% 2012|13 2013|14 Sugar Starch Fruit 9 General presentation 2013|14; | Unternehmenspräsentation Vienna, 2013|14; JuneMai Wien, 2014 2
Slide 10: Operating profit by segment
Operating profit by segment 2013|14 FY €m 2013|14 236.9 37.8% 26.4% 4.4% -27.6% 5.5% 45.2 171.4 35.8% +42.9% 72.6 7.2% 64.6 -15.3% Operating Margin 61.5 2012|13 119.1 -62.0% 4.0% 45.3 19.1% 50.3% 2012|13 2013|14 30.6% Sugar Starch Fruit 10.6% 9.0% General presentation 2013|14; 10 | Unternehmenspräse
Slide 11: Revenue-, profit- and margin development
Revenue-, profit- and margin development 3,065.9 3,043.4 2,577.6 2,165.9 2,026.3 1,989.2 232.4 236.9 171.4 128.6 9.0 % 91.9 7.7 % 37.8 5.9 % 5.6 % 4.6 % 1.9 % Revenue Operating profit Operating margin * The prior-year data have been restated under IAS 8 in conjunction with IAS 19 measured by revenue
Slide 12: CAPEX evolution
CAPEX evolution Investment for sustainable growth 2013|14 FY: SUGAR: improvements in logistics (Hungary and Romania) STARCH: particularly wheat starch plant and energy efficiency measures in (Pischelsdorf) FRUIT: new US fruit preparations plant in the USA (Lysander/N.Y.) 149.8 Sugar Starch Fruit 136
Slide 13: Production sites
Production sites EUROPA Segment 2014 2003 Sugar 10 15 Starch 5 5 Fruit 40 - Overall 55 20 Stand: Mai 2014 Sugar Starch Fruit 13 | General Unternehmenspräsentation presentation 2013|14; 2013|14; Vienna, Wien, JuneMai 2014 2014
Slide 14: Strategy
Strategy Refining of agricultural raw materials The strategic goals Customer- and Organic growth, and adding market-oriented SUGAR STARCH value by tailor-made growth in CEE and Central- & products Europe Eastern Europe Southeastern Europe Synergies Capital Market Use synergies between business A lon
Slide 15: At a Glance – AGRANA products in daily life
At a Glance – AGRANA-Products in daily life SUGAR. STARCH. FRUIT. • Sugar is sold • AGRANA produces starch and • Fruit juice concentrates – to consumers via the food special starch products customers are fruit juice and trade (20%) with “Wiener • Starch is a complex carbohydrate beverage bottlers an
Slide 16: Segment Sugar
SEGMENT SUGAR 16 | Unternehmenspräsentation General presentation 2013|14; 2013|14; Vienna, Wien, June Mai2014 2014
Slide 17: Segment Sugar
Segment Sugar • The Sugar segment has traditionally represented AGRANA´s core business. • Sugar is an important, natural part of our nutrition. As the market leader in Austria and a top provider in Eastern and South-Eastern Europe, AGRANA offers top levels of quality. AGRANA attaches significant imp
Slide 18: Segment Sugar - markets
Segment Sugar - markets 6 beet sugar factories, 2 raw sugar refineries, 1 sales facility Czechia • Austria: Leopoldsdorf, Tulln Slovakia • Bosnia Herzegowina: Brčko • Bulgaria: Sofia Austria • Romania: Buzău, Roman Hungary* • Slovakia: Sered´ Romania • Czechia : Opava • Hungary: Kaposvár Bosnia- Bee
Slide 19: Segment Starch
SEGMENT STARCH Unternehmenspräsentation 19 | General 2013|14; presentation 2013|14; Wien, Vienna, JuneMai 2014 2014
Slide 20: Segment Starch
Segment Starch • AGRANA is the specialist in the processing and refining of top-quality agricultural raw materials such as corn, wheat and potatoes to create a variety of different, highly refined starch products. • AGRANAs aim is to manufacture products made of valuable raw materials at the highest
Slide 21: Segment Starch - markets
Segment Starch - markets 4 starch factories und 2 bioethanol plants • Austria: Gmünd (potato starch factory), Aschach (corn starch factory), Pischelsdorf (wheat starch factory) • Hungary: Szabadegyháza • Romania: Tăndărei Countries with production Main markets Starch factory Wheat starch factory + B
Slide 22: Segment Fruit
SEGMENT FRUIT General presentation 2013|14; 22 | Unternehmenspräsentation Vienna, 2013|14; JuneMai Wien, 2014 2014
Slide 23: Segment Fruit
Segment Fruit • Since 2003 AGRANA processes fruit in the gentlest way possible, applying state- of-the-art production processes to refine the fruit into top quality fruit preparations and fruit juice concentrates. • The fruit juice concentrate business is operated by AUSTRIA JUICE (formerly Ybbstale
Slide 24: Segment Fruit - markets
Segment FRUIT - markets 26 fruit preparation- und 14 Fruit juice concentrate plants Countries with manufacturing Potential growth regions 24 | General Unternehmenspräsentation presentation 2013|14; 2013|14; Vienna, Wien, JuneMai 2014 2014
Slide 25: Fruit preparation – What is it about?
Fruit preparation – What is it about?? FRUITS: SUGAR: FRUIT PREPARATION most important ingredient sweetens and supports *optional flavors and of fruit preparations taste and durability colours for an even fruitier • Frozen (IQF or block) • Crystal sugar taste and a nice colour • Aseptic • Liquid sug
Slide 26: Construction of a new US facility
Construction of a new US facility Fruit preparations • May 2014: Expanding U.S. market presence with fourth plant in Lysander| New York • Total investment amounts to around € 30 million • New production capacity of 45,000 tonnes annually • US market offers strong growth thanks to a trend toward Gree
Slide 27: Research & Development
Research & Development AGRANA Research & Innovation Center Tulln • 2014: Bundling of all R&D activities in Tulln, building extension of former “Zuckerforschung Tulln” to new AGRANA Research & Innovation Centre (ARIC) • Extension and new equipment: ~ € 4 million • Operating costs (annually): ~ € 6 mi
Slide 28: Sustainability at AGRANA
Sustainability at AGRANA By sustainability, AGRANA means a harmonious balance pf economic, environmental and social responsibility. AGRANA formulated three principles that sum up it´s concept of sustainability more concretely and reflect the six core subjects most significant for the Group. At AGRAN
Slide 29: Sustainability at AGRANA
Sustainability at AGRANA Measures in the core business Energy efficiency • Reduced emissions by low-temperature dryer in Tulln and Leopoldsdorf; Since its introduction in FY 11|12 around 59,000 tonnes of CO2-eq. saved; Project won klima:activ-Award from Austria Environment Ministry • In Kaposvár|Hun
Slide 30: Sustainability at AGRANA
Sustainability at AGRANA " one raw material = four products" Integrated wheat starch and bioethanol factory Pischelsdorf … to four! From one… Wheat starch- products Bioethanol Feed ActiProt High-purity CO 2 30 | General Unternehmenspräsentation presentation 2013|14; 2013|14; Vienna, Wien, Ju
Slide 31: Bioethanol and its By-Products
Bioethanol and its By-Products • Bioethanol – Currently, around 500,000 tonnes of cereals processed annually – Bioethanol production capacity of approx. 240,000 m³ p.a. – Saving of greenhouse gas emissions compared to petrol (life cycle analysis performed by Joanneum Research) – Sales of bioethanol:
Slide 32: Biorefinery Pischelsdorf
Biorefinery Pischelsdorf high-purity Wheat starch ActiProt CO2 Bioethanol 32 | General Unternehmenspräsentation presentation 2013|14; 2013|14; Vienna, Wien, JuneMai 2014 2014
Slide 33: Comparative Data
COMPARATIVE DATA 2013|14 General presentation 2013|14; 33 | Unternehmenspräsentation Vienna, 2013|14; June Wien, Mai2014 2014
Slide 34: Key financials
Key financials in Mio. € 2013|14 2012|131 Change Revenue 3,043.4 3,065.9 (0.7)% EBITDA 258.9 318.4 (18.7)% Operating profit 171.4 236.9 (27.7)% Operating profit before except. items 3.9 (19.1) > 100% Operating Margin % 5.6% 7.7% Profit for the period 109.8 156.5 (29.9)% Dividend 3.602 3.60 0.0% Inve
Slide 35: Consolidated balance sheet
Consolidated balance sheet €m (condensed) 28 February 28 February 2014 20131 Non-current assets 1,119.8 1,097.9 Current assets 1,332.3 1,480.5 Total assets 2,452.1 2,578.4 Equity 1,192.7 1,211.9 Non-current liabilities 417.9 519.5 Current liabilities 841.4 847.0 Total equity and liabilities 2,452.1
Slide 36: Consolidated cash flow statement
Consolidated cash flow statement €m (condensed) 2013|14 2012|13 Operating cash flow before change in working capital 196.2 256.3 (Gains) on disposal of non-current assets (1.1) (0.7) Change in working capital 88.1 (50.9) Net cash from operating activities 283.2 204.8 Net cash (used in) investing act
Slide 37: Analysis of net financial items
Analysis of net financial items €m 2013|14 2012|13 Net interest (expense) (10.7) (24.0) Currency translation (16.4) (0.7) differences Share of results of non- consolidated subsidiaries and 1.0 1.0 outside companies Net (loss) on disposal of non- consolidated subsidiaries and (18) (0.4) outside compa
Slide 38: Outlook
SUGAR. STARCH. FRUIT. OUTLOOK General presentation 2013|14; 38 | Unternehmenspräsentation Vienna, 2013|14; June Wien, Mai2014 2014
Slide 39: Outlook Segments 2014|15
Outlook Segments 2014|15 • Continuing intensive price pressure SUGAR • increasing dynamic the European market - repositioning of competitors due to Segment changing business conditions (expiry of the sugar market regime) • Open Decision in some countries relating to coupled subsidies for cultivation
Slide 40: Outlook AGRANA Group 2014|15
OUTLOOK AGRANA Group 2014|15 • With regard to consolidated revenue a decline is expected on the grounds of lower average prices and slight increases in volumes sold • There will be a significant slowing in terms of EBIT for the full year 2014|15 (2013|14: € 167.0 million) • Total investment in the t
Slide 41: 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
AGRANA Beteiligungs-AG — Investor Presentation (June 2014) on 6ix