AGRANA Beteiligungs-AG · VIE:AGR
AGRANA Beteiligungs-AG — H1 2012|13 Earnings Presentation
29 slides from AGRANA Beteiligungs-AG's earnings presentation, Oct 11, 2012
Slide 1: Results for the first half of 2012|13
AGRANA Beteiligungs-AG | Results for the first half of 2012|13 1 March – 31 August 2012 Vi Vienna, 11 October O b 2012 Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 2: Financial Highlights H1 2012|13
Financial Highlights H1 2012|13 Sound Growth continued … Revenue growth of 24 24.8 8 % to € 1,603.1 1 603 1 million (prior year: € 1,284.7 1 284 7 million) Rise of 20.6 % in operating profit before exceptional items, to € 142.5 million (prior year: € 118.2 million) Slight decrease in operating margi
Slide 3: Revenue by Segment
Revenue byy Segment g H1 2012|13 € €m 1,603.1 H1 2011|12 +24.8% 1,284.7 35.9% 33.9% 573.4 +24.4% 30.2% 461.1 395.7 +2.1% 387.7 H1 2012|13 +45.4% 634.0 35.8% 39.5% 435.9 24.7% H1 2011|12 H1 2012|13 Sugar Starch Fruit 3 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 4: Operating Profit by Segment
Operating p g Profit byy Segment g H1 2012|13 H1 2011|12 6.8 % 26.6% 11.6 % 42 8% 42.8% 142.5 30.6% €m 118.2 +20.6% 24.8 9.3 % 31.4 -21.0% 46.5 36.2 +28.5% H1 2012|13 +40.7% 71.2 4.3 % 50.6 17.4% 50.0% 11.2 % H1 2011|12 H1 2012|13 32 6% 32.6% Sugar Starch Fruit 11.8 % Operating Margin 4 | Results fo
Slide 5: CAPEX Focus
CAPEX Focus H1 2012|13 €m • Factory relocation in Dachang|China S Sugar S Starch h F i Fruit • Plant expansion at Serpuchov|Russia; --- Depreciation commissioning of the new cold storage 59.6 facility +67.9% 14.4 • Wheat starch plant in Pischelsdorf|Lower Austria – construction in progress • Biomass
Slide 6: Key Drivers for the Segments
Keyy Drivers for the Segments g H1 2012|13 • Recurring news about unfavourable climatic conditions in Brazil or India (sugar cane yields) led to increased volatility of the world market price SUGAR • European Commission regularly implemented measures to keep the Segment g market balanced and suffici
Slide 7: SUGAR
SUGAR 7 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 8: SUGAR Segment: Highlights H1 2012|13
SUGAR Segment: Highlights H1 2012|13 Revenue Revenue grew considerably to € 634.0 634 0 m m€ +45.4% 634.0 • Continued positive development since Q1 2012|13 435.9 • Growth in revenues, especially due to higher volumes l • Sales of NQS to industry and world market have been satisfactory H1 2011l12 H1
Slide 9: Quotation for Raw Sugar & White Sugar
Q Quotation for Raw Sugar & White Sugar January 2006 – October 2012 (USD) 2012|13 FY White sugar (LSE) 08/10/2012: 595.0 USD/to = 456.3 EUR/to Raw sugar (NYSE) 08/10/2012: 472.2 USD/to = 362.1 EUR/to 9 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 10: STARCH
STARCH 10 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 11: STARCH Segment: Highlights H1 2012|13
STARCH Segment: Highlights H1 2012|13 Revenue Revenue with slight increase at € 395.7 m €m +2.1% 387.7 395.7 • Higher price level for saccharification products, especially isoglucose • Sales prices for all other products relatively stable • Higher volumes of starches, bioethanol and by- products H1
Slide 12: World Grain Production & Consumption
W ld Grain World G i Production P d i & Consumption C i Million tonnes 2.000 1,802 1,799 1,769 1,751 1,785 1,849 1,844 1,776 1,809 1.800 1,732 1 600 1.600 1.400 Production 1.200 Consumption 1.000 Stocks 800 600 370 400 366 371 400 338 = 18.7 % 200 0 2008|09 2009|10 2010|11 2011|12e 2012|13f Internat
Slide 13: Price Development of Cereals
Price Development of Cereals January 2009 – October 2012 (EUR) 2012|13 FY WHEAT Quotation (Paris) 08/10/2012: 259.8 EUR/to CORN Quotation (Paris) 08/ 0/20 2 08/10/2012: 237.8 EUR/to 13 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 14: FRUIT
FRUIT 14 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 15: FRUIT Segment: Highlights H1 2012|13
FRUIT Segment: Highlights H1 2012|13 Revenue Revenue rose to € 573.4573 4 m €m 573.4 +24.4% • Higher sales of fruit preparations in the markets 461.1 outside of Europe • Sales S l prices i compared d to t last l t year att a higher hi h level, l l reflecting the increased raw material costs • Signif
Slide 16: Consolidated Financial Statements H1 2012|13
CONS. FINANCIAL STATEMENTS H1 2012|13 16 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 17: Consolidated Income Statement
Consolidated Income Statement € (condensed) €m H1 H1 Q2 Q2 2012|13 2011|12 2012|13 2011|12 Revenue 1,603.1 1,284.7 828.5 671.8 Operating profit before exceptional 142.5 118.2 71.6 56.6 items Exceptional items (1.0) (1.5) (1.0) (1.5) Operating profit after exceptional items 141.5 116.7 70.6 55.1 Net
Slide 18: Analysis of net financial items
Analysis of net financial items €m H1 H1 2012|13 2011|12 Net interest (expense) (13.6) (13.6) Currency translation differences (0.8) (2.7) Other financial items 14 1.4 (1 6) (1.6) Total of net financial items (13.0) (17.9) 18 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet €m (condensed) 31 August 29 February 2012 2012 Non-current assets 1,053.3 992.8 C Current t assets t 1 331 1 1,331.1 1 369 3 1,369.3 Equity 1,176.5 1,073.0 Non-current liabilities 520.2 416.4 Current liabilities 687.7 872.7 Total assets 2,384.4 2,362.1 Equity ratio 49.3 %
Slide 20: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement €m (condensed) H1 2012|13 H1 2011|12 Operating cash flow before change in working capital 147.1 119.5 (Gains) on disposal of non-current assets (0.7) (1.0) Change in working capital 63.8 (10.8) Net cash from operating activities 210 2 210.2 107 7 107.7 Net cash (used
Slide 21: News & Outlook
Sugar. Starch. Fruit. “NEWS” & OUTLOOK 21 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 22: Start of Sugar campaign 2012|13
Start of Sugar g campaign p g 2012|13 | New, sustainable production technologies • “Thanks to targeted investment amounting to approximately EUR 50 million, AGRANA is not only able to cut energy consumption and CO-2 emissions by a significant amount at its A t i and Austrian d Hungarian H i faciliti
Slide 23: E10 postponement in Austria
E10 postponement in Austria • Current status: Bioethanol production at full capacity in Austria (approx. 240,000 m³ p.a.) [sufficient to cover E10 requirements in Austria] AGRANA makes use of leftover animal feed grain from central Europe which was produced sustainably d is and i unsuitable it b
Slide 24: Ybbstaler consolidation
„Ybbstaler“ consolidation • Joint Venture with Ybbstaler (fruit juice concentrates) – Approval by the EU Commission on April 4, 2012 – Merger of AGRANA Juice Holding GmbH with Ybbstaler Fruit Austria GmbH on 1 June 2012 – YBBSTALER AGRANA JUICE GmbH fully consolidated by AGRANA since Q2 2012|13 – Go
Slide 25: Segment Outlook 2012|13 FY
Segment Outlook 2012|13 FY • Operating profit at prior year level is projected for the full year 12|13 • AGRANA expects a good but weaker earnings situation and a solid SUGAR revenue development in the 2nd half of 12|13 FY compared to H1 Segment • A lower beet sugar production is expected (due to we
Slide 26: Outlook AGRANA Group 2012|13 FY
Outlook AGRANA Group 2012|13 FY • Group revenue expected to increase on overall volume growth and high prices (above € 3.0 bn) • Expectation of volatile raw material and sales prices in the next two quarters • Combined with lower crop yields, weaker results in the 2nd half of 2012|13 • For the full
Slide 27: Financial Calendar for 2012|13
Financial Calendar for 2012|13 10 January J 2013 Results for first three quarters of 2012|13 14 May 2013 Press conference on annual results for 2012|13 5 July 2013 Annual General Meeting for 2012|13 10 July 2013 Dividend payment and ex-dividend day 27 | Results for the first half of 2012|13; Vienna,
Slide 28: Thank you for your attention
Sugar. Starch. Fruit. THANK YOU FOR YOUR ATTENTION 28 | Results for the first half of 2012|13; Vienna, 11 October 2012
Slide 29: 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
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