Kernel Holding S.a. · GPW:KER
Kernel — FY2015 Earnings Presentation
23 slides from Kernel's earnings presentation, 2015
Slide 1: Company Presentation
COMPANY PRESENTATION PANAMA IMO 8603224
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither th
Slide 3: FY2015 highlights
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials FY2015 highlights Key highlights: USD million except ratios and EPS FY2015 FY2014 y-o-y ii 78% y-o-y growth in the Company’s EBITDA was driven by all our three business lines. Income statement highlights ii The sunflower oi
Slide 4: FY2015 segment results summary
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials FY2015 segment results summary Revenue, USD million EBITDA, USD million EBITDA margin Volumes, thousand tons FY2015 FY2014 y-o-y FY2015 FY2014 y-o-y FY2015 FY2014 FY2015 FY2014 y-o-y Sunflower oil Sunflower oil sold in bulk
Slide 5: Q1 FY2016 operations update
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Q1 FY2016 operations update Key highlights: Volume and tonnage Q1 FY2016 Q1 FY2015 y-o-y ii Oilseed crush was down 17% y-o-y to 418 thousand tons in Q1 FY2016 as a result of lower Grain sales, tons 927,446 1,220,855 (24%) a
Slide 6: FY2016 outlook
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials FY2016 outlook Sunflower oil ii The combination of a 5% capacity increase at our plants and a recent agreement to toll 200,000 tons of capacity at a third-party plant will allow us to increase our crushing volume to around
Slide 7: Kernel at a glance
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Kernel at a glance Sunflower oil EBITDA Stock information $213m Exchange Warsaw Stock Exchange ii #1 sunflower oil producer and exporter in Ukraine. Stock quote currency PLN ii 3.0 million tons/year sunflower seed crushing
Slide 8: Our business model
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Our business model 1 Own farming 2 Third party farmers 3 Origination 4 Silo storage 5 Sunflower seed processing plants 6 Grain export 7 Bottled sunflower oil 8 Export terminals www.kernel.ua Company presentation October 2015
Slide 9: Asset map
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Asset map Kursk Voronezh Chernihiv Lutsk Sumy Belgorod Rivne Kyiv Zhytomyr Kharkiv Lviv Ternopil Poltava Cherkasy Khmelnytskyi Vinnytsia Ivano-Frankivsk Uzhhorod Volgograd Luhansk Kirovohrad Dnipropetrovsk Chernivtsi Zapori
Slide 10: Sunflower Oil
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Sunflower Oil www.kernel.ua Company presentation October 2015 10
Slide 11: Our business model
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Our business model ii #1 oilseed crusher in Ukraine; total capacity of 3.0 million tons of sunflower Sunflower seed industrial Kernel’s sunflower oil export by destination crushing capacity in Ukraine (FY2015) seed per year
Slide 12: Sunflower oil in FY2015
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Sunflower oil in FY2015 Sunflower oil sold in bulk Sunflower oil sold in bulk EBITDA Sunflower oil sold in bulk (thousand tons) (USD/ton, %) ii 12% y-o-y growth in the volumes of sunflower oil sold in bulk reflected higher
Slide 13: Grain and Infrastructure
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Grain and Infrastructure www.kernel.ua Company presentation October 2015 13
Slide 14: Our business model
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Our business model Ukraine’s grain and oilseed production Russia’s grain and oilseed production ii Top grain exporter from the Black Sea region, with a market share in (million tons) (million tons) Ukraine of 9-12% and in R
Slide 15: Grain and infrastructure in FY2015
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Grain and infrastructure in FY2015 Grain sales Grain segment’s EBITDA Grain export: (thousand tons) (USD/ton, %) ii The combination of a 400,000-ton increase in our own grain and oilseed 37 4,744 production, and a record to
Slide 16: Farming
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Farming www.kernel.ua Company presentation October 2015 16
Slide 17: Our business model
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Our business model Kernel’s farmed acreage crop mix ii Large-scale crop production on 390,000 hectares of leasehold farmland in Ukraine. 8% 8% 7% ii A crop mix based on four crops allows us to focus on profits and technolog
Slide 18: Farming in FY2015
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Farming in FY2015 Acreage harvested Farming segment EBITDA Farming: (thousand hectares) (USD/hectare, %) ii Our total grain and oilseed tonnage was up 31% y-o-y to 1.8 million in 345 FY2015, as improvements in our technolog
Slide 19: Crop production cycle in Ukraine
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Crop production cycle in Ukraine FY2014 FY2015 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Corn Land preparation Fertilization Planting Plant protection Harvesting Contrac
Slide 20: Financials
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Financials www.kernel.ua Company presentation October 2015 20
Slide 21: Balance sheet
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Balance sheet Balance sheet highlights USD million FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 Invested capital Cash & cash equivalents 6.4 25.3 88.5 129.3 59.5 115.9 82.5 78.8 65.4 129.1 Net trade
Slide 22: P&L and cash flow
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials P&L and cash flow P&L highlights USD million except ratios and EPS FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 Revenue 215.2 350.4 663.1 1,047.1 1,020.5 1,899.1 2,071.8 2,796.8 2,393.3 2,329.5 Net
Slide 23: IR contact
IR contact Yuriy Kovalchuk Yegor Samusenko Corporate Investment Director Investor Relations Manager ir@kernel.ua y.samusenko@kernel.ua Tel.: +38 044 461-88-01, ext. 70-88 3 Tarasa Shevchenka Lane, Kyiv, Ukraine, 01001 Investor calendar ii Q1 FY2016 Financial Report 25 November 2015 ii Annual General