Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — Q1 2011 Earnings Presentation
22 slides from Golden Agri-resources's earnings presentation, May 13, 2011
Slide 1: Interim Performance Presentation
Interim Performance Presentation YTD Mar 2011 : three-month period ended 31st March 2011 13 May 2011 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 9 Section 4 Downstream Highlights 13 Section 5 Growth Strategy 16 Section 6 Recent Developments 19 2
Slide 4: Executive Summary
fir ar J ZF Gal ne and food iy Section 1 Executive Summary
Slide 5: Executive Summary
Executive Summary Year 2011 opened with record quarterly performance, sustained earnings growth Price (US$/MT) EBITDA (US$ million) Output (‘000 MT) • Sterling 1Q 2011 performance 320 1300 Revenue $1,463 mn 280 1200 EBITDA $306 mn 1100 240 Net Profit1 $231 mn 1000 Palm products output 603,000 MT 200
Slide 6: Financial Highlights
Section 2 Financial Highlights
Slide 7: Financial Summary – 1Q 2011
Financial Summary – 1Q 2011 US$ million 1Q 2011 1Q 2010 YoY 4Q 2010 QoQ Change Change Revenue 1,463 625 134% 1,189 23% Gross Profit 525 174 202% 387 36% EBITDA 306 140 118% 237 29% Interest on borrowings -14 -10 44% -14 1% Depreciation and amortisation -22 -18 19% -21 1% Foreign exchange gain, net 1
Slide 8: Segmental Results
Segmental Results Strong contribution from our Indonesia operations supported by China operations (in US$ million) Indonesia Operations China Operations 1Q 2011 1Q 2010 Change 1Q 2011 1Q 2010 Change Revenue 1,185 506 134% 278 118 136% Gross Profit 505 167 203% 20 7 194% Gross Profit Margin 43% 33% 1
Slide 9: Financial Position
Financial Position Strong balance sheet position with low gearing (in US$ million) 31-Mar-11 31-Dec-10 Change Total Assets 10,549 10,114 4% Cash and Short-Term Investments 488 276 77% Trade Receivables and Inventories 864 825 5% Fixed Assets1 8,361 8,270 1% Total Liabilities 3,368 3,169 6% Interest
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 2010/2011 31 Dec 2011 2010 % increase 2010 Planted Area 443,544 430,152 3.1% 442,470 Nucleus 353,450 342,158 3.3% 352,124 Plasma 90,094 87,994 2.4% 90,346 Mature Area 392,815 365,
Slide 12: 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) 1Q 2011 Nucleus 44,248 85,680 139,855 72,545 11,
Slide 13: Production Performance
Production Performance 1Q 2011 production recovered strongly year-on-year and achieved first quarter historical record 1Q 2011 1Q 2010 % increase (decrease) FFB Production (tonnes) 1,964,498 1,465,437 34.1% Nucleus 1,493,381 1,139,402 31.1% Plasma 471,117 326,035 44.5% FFB Yield (tonne/ha) 5.00 4.01
Slide 14: Downstream Highlights
Section 4 Downstream Highlights
Slide 15: Downstream – Indonesia Operations
Downstream – Indonesia Operations Consistent expansion of downstream capacity to capture growing production of our plantations Capacity (‘000 tpa) Our Brands 1,380 1,400 1,140 1,140 1,200 1,000 840 840 800 Kernel crushing capacity 549 600 459 Refinery capacity 324 324 369 400 200 0 2006 2007 2008 20
Slide 16: Downstream – China Operations
Downstream – China Operations China is one of the largest and fastest growing edible oils consumers Our Brands GAR will strategically expand its presence in China through organic growth and acquisition: Construction of new vegetable oil refinery and soybean crushing facilities Developing distributio
Slide 17: Growth Strategy
fir ar J ZF Gal ne and food Section 5 Growth Strategy
Slide 18: 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 19: Growth Strategy and Outlook
Growth Strategy and Outlook Growth Strategy in 2011 • Expanding palm oil plantations by 20,000 to 30,000 hectares • Building milling capacity in line with the growth in fruits production • Constructing additional downstream processing capacity in strategic locations and extending distribution and lo
Slide 20: Recent Developments
Section 6 Recent Developments 19
Slide 21: Progress with RSPO
Progress with RSPO Since early April 2011, GAR has become a member of Roundtable on Sustainable Palm Oil (“RSPO”) Aim to obtain RSPO certification for all existing units as of 30 June 2010 by end 2015 Sep 31 Mar Jun Sep Dec Jun Dec Dec 2010 2011 2011 2011 2011 2012 2012 2015 Engaged Overall Gap 1st
Slide 22: 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) 21
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