Astarta Holding Plc · GPW:AST
Astarta — Q1 2022 Earnings Presentation
25 slides from Astarta's earnings presentation, May 17, 2022
Slide 1: 1Q22 operating and financial results
1Q22 operating and financial results
Slide 2: 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 ASTARTA Ho
Slide 3: The Humanitarian Project Common Help UA
THE HUMANITARIAN PROJECT COMMON HELP UA Co-founders Common Help UA is a humanitarian project co-founded by the Charitable Foundation “Believe in Yourself” and Astarta from the onset of the full-scale russian military aggression against Ukraine. The project participants put together their capabilitie
Slide 4: 1Q22 Highlights
1Q22 HIGHLIGHTS Summary P&L EURk 1Q21 1Q22 • Astarta’s consolidated revenues amounted to EUR119m in 1Q22, 44% Revenues, including 82 835 119 321 higher y-o-y, mainly due to higher sales in the Agricultural segment which Agriculture 14 626 62 543 generated 52% of consolidated revenues Sugar Productio
Slide 5: 1Q22 Highlights
1Q22 HIGHLIGHTS Summary Сash Flows Summary Balance Sheet EURk 1Q21 1Q22 EURk 1Q21 YE21 1Q22 Pre-tax income 4 271 3 112 Right-of-use asset (mainly land) 98 464 117 058 117 316 Depreciation & Amortisation 11 733 12 559 Biological assets (non-current) 23 296 27 703 26 238 Financial interest expenses, n
Slide 6: Agriculture
AGRICULTURE Sales volumes of key crops Financial results EURk 2019 2020 2021 1Q21 1Q22 kt 2019 2020 2021 1Q21 1Q22 Revenues, including 205 712 175 137 185 049 14 626 62 543 Corn 714 630 483 73 200 Corn 109 973 94 439 85 126 12 038 46 460 Wheat 266 265 290 4 10 Wheat 40 250 44 726 59 764 900 2 609 Su
Slide 7: Agriculture
AGRICULTURE Yields and output of key crops* • Astarta finished spring planting in all seven regions of its 2019 2020 2021 t/ha operations and covering 100% of the land bank (including 4kha in t/ha kt t/ha kt t/ha kt the Chernihiv region which were temporary occupied) Corn 8.7 581 6.9 418 8.6 508 Whe
Slide 8: Global Agricultural Market Fundamentals
GLOBAL AGRICULTURAL MARKET FUNDAMENTALS Corn global ending stocks vs stock to use Wheat global ending stocks vs stock to use 350 Ending stocks Stock to use 45% 350 Ending stocks Stock to use 45% 300 40% 300 40% 35% 35% 250 30% 250 30% 200 25% 200 25% 150 20% 150 20% 100 15% 15% 100 10% 10% 50 5% 50
Slide 9: Sugar Production
SUGAR PRODUCTION Production Financial results Unit 2019 2020 2021 EURk 2019 2020 2021 1Q21 1Q22 Sugar production kt 302 226 340* Revenues 116 893 126 973 170 197 28 756 19 752 Sugar beet processed kt 1 950 1 559 1 844 Cost of sales (107 637) (98 728) (123 711) (17 421) (14 629) Own sugar beet % 80%
Slide 10: Sugar Production
SUGAR PRODUCTION Sugar production, consumption and exports, Ukraine 2.5 2.3 2.2 2,000.0 • According to Ukrsugar, 2021 beet sugar output in Ukraine 2.1 2.1 2.1 totalled 1.4mt (up by 25% y-o-y) thereby production fully meets 1,800.0 2.0 1.8 1.8 1.7 1.7 local demand 1,600.0 1.6 1.6 1.5 1.6 1.5 1.5 1,40
Slide 11: Soybean Processing
SOYBEAN PROCESSING Production Financial results kt 2019 2020 2021 1Q21 1Q22 EURk 2019 2020 2021 1Q21 1Q22 Soybean processed 231 208 172 51 50 Revenues, including 82 718 75 157 89 814 29 301 25 915 Soybean meal 169 152 128 38 36 Soybean meal 54 025 47 872 57 006 17 906 18 751 Soybean oil 44 40 32 10
Slide 12: Cattle Farming
CATTLE FARMING Milk production, herd and productivity Financial results 2019 2020 2021 1Q21 1Q22 EURk 2019 2020 2021 1Q21 1Q22 Milk production, kt 96 93 97 25 25 Revenues 34 603 33 167 38 474 9 159 9 895 Herd, k heads 24 22 22 22 23 Cost of sales (27 692) (25 015) (26 721) (6 396) (6 530) Milk yield
Slide 13: Outlook
OUTLOOK Since russia started the full-scale war against Ukraine all local businesses operate under conditions which make it difficult to specify development plans in detail. Currently the major task is to ensure food security for the country and concentrate on the short-term objectives of vital impo
Slide 14: Sustainability Framework: Energy & GHG Emissions Management
SUSTAINABILITY FRAMEWORK: ENERGY & GHG EMISSIONS MANAGEMENT Track-record Ratings and reporting From 2008 - membership in • Four out of five sugar mills retooled from coal to natural gas as the main the Global Compact of United energy input. Energy-efficiency BAT programme from 2015 to reduce energy
Slide 15: Summary Financials
SUMMARY FINANCIALS 15
Slide 16: Last Three Years Highlights
LAST THREE YEARS HIGHLIGHTS Revenues*, EURm Investments, EURm ∑491 30 ∑24 ∑448 5% ∑416 8 25 5% 8 5 38 2 ∑16 4% 35 33 90 20 ∑13 83 75 3% 15 3% 2 3% 185 1 206 175 10 21 2% 10 11 117 127 170 5 1% 0 1 2 2 0% 2019 2020 2021 2019 2020 2021 Sugar production Agriculture Sugar production Agriculture Soybean
Slide 17: Consolidated Statement of Profit and Loss
CONSOLIDATED STATEMENT OF PROFIT AND LOSS EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1Q21 1Q22 Revenues 68 88 123 128 219 304 353 327 352 314 369 459 372 448 416 491 83 119 Cost of sales (55) (67) (96) (83) (128) (193) (286) (293) (268) (219) (257) (355) (32
Slide 18: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1Q21 1Q22 Right-of-use asset (mainly land) - - - - - - - - - - - - 110 142 94 117 98 117 Biological assets 4 6 5 13 15 20 44 45 30 19 15 22 17 30 24 28 23 26 PP&E and other 33 79 79 111 14
Slide 19: Consolidated Cash Flows
CONSOLIDATED CASH FLOWS EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1Q21 1Q22 PBIT 6 23 (11) 30 80 90 45 21 (67) 14 85 63 (16) 1 9 129 4 3 Depreciation and amortization 4 5 9 8 13 17 25 27 25 22 29 37 46 63 56 51 12 13 Gain on acquisition of subsidiaries (4)
Slide 20: Appendix
APPENDIX 20
Slide 21: Astarta – Value Chain
ASTARTA – VALUE CHAIN Crop growing Storage, Handling and Logistics Processing Primary agriculture Storage and Handling Sugar • Among Ukraine’s Top 5 agriproducers by land • 7 grain and oilseeds silos with storage • 22% share of the local sugar market bank and production capacity – 562kt by productio
Slide 22: Valuation and Capital Structure
VALUATION AND CAPITAL STRUCTURE EV 2019-2022 4.7 4.6 94 3.6 3.5 231 2.4 2.6 139 141 143 1.9 1.4 1.6 1.1 125 0.8 127 136 98 0.7 0.6 31 27 19 2019 2020 2021 1Q22 -0.4 Net financial debt Lease liabilities MCAP Net debt/EBITDA EV/EBITDA Equity Coverage Top 10 shareholders* Board of Directors Name Share
Slide 23: Key ESG Facts
KEY ESG FACTS Energy consumption, k GJ Emissions, kt of CO2 equivalent Water consumption, megaliters Ecological 4 080 388 4.0 3 627 359 3.7 2020 2021 2020 2021 2020 2021 Employees by gender Lost day rate CSR budget, EURm Female Male 18.3 2.4 Social 3 211 3 077 1.6 1 816 1 743 6.0 20% 2020 2021 2020
Slide 24: Astarta IT Solutions
ASTARTA IT SOLUTIONS • AgriChain is a proprietary integrated multi-module IT solution for agribusiness management. The core of AgriChain is a WEB-portal, consisting of eight modules • AgriChain Land is the farmland management module covering land mapping, lease agreements, leaseholders’ and payments
Slide 25: FV of Biological Assets
FV OF BIOLOGICAL ASSETS Crops’ calendar Assets in agriculture Mar Apr May Jun Jul Aug Sept Oct Nov Dec Sugar beets Biological assets Agricultural produce Winter crops* Agriculture Agriculture Corn Non-current Current produce at produce Livestock unharvested subsequent the point Sunflower seeds crops