Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — FY2014 Earnings Presentation
22 slides from Golden Agri-resources's earnings presentation, Feb 27, 2015
Slide 1: Full Year 2014 Results Presentation
Golden Agri-Resources Ltd Full Year 2014 Results Presentation 27 February 2015 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: Contents
Contents 1 Executive Summary 3 2 Financial Highlights 5 3 Segmental Performance 9 4 Strategy and Outlook 15 5 Appendix 19 2
Slide 4: Executive Summary
1 Executive Summary ~~ gar agribusiness and food
Slide 5: Executive Summary
Executive Summary Outstanding full year plantation performance while 4Q 2014 saw improvement across all business segments EBITDA (US$ million) • 4Q 2014 vs 3Q 2014 results 600 562 550 Revenue $1,822 mn 1% 487 500 EBITDA $135 mn 35% 450 Core Net Profit1 $46 mn 77% 400 Palm product output 723,000 MT 7
Slide 6: Financial Highlights
2. Financial Highlights gar agribusiness and food
Slide 7: Consolidated Financial Performance
Consolidated Financial Performance US$ million FY 2014 FY 2013 YoY 4Q 2014 3Q 2014 QoQ Revenue 7,619 6,585 16% 1,822 1,844 -1% Gross Profit 1,311 1,363 -4% 298 283 6% EBITDA 566 662 -14% 135 100 35% Core Net Profit1 221 318 -30% 46 26 77% Addition: Net gain/(loss) from changes in fair value of bio
Slide 8: Financial Position
Financial Position Balance sheet fundamentals remain strong with ample liquidity and prudent gearing (in US$ million) 31-Dec-14 31-Dec-13 Change Total Assets 14,667 14,148 3.7% Fixed Assets1 10,455 10,340 1.1% Total Liabilities 5,848 5,345 9.4% Adjusted Net Debt2 1,635 1,095 49.3% Net Debt3 2,478 1,
Slide 9: Final Dividend
Final Dividend The Board proposes final dividend distribution of 0.177 Singapore cents per share, subject to approval from shareholders. Combined with the interim dividend, it represents 30% of our underlying profit for FY2014. 2014 Cash Dividend 2011 2012 2013 Interim Final Total Dividend per share
Slide 10: Segmental Performance
Segmental Performance ~*) gar agribusiness and food
Slide 11: Segmental Results – Plantations and Palm Oil Mills
Segmental Results – Plantations and Palm Oil Mills Production at a record high with growing yield and expanding mature area FY 2014 FY 2013 YoY 4Q 2014 3Q 2014 QoQ Revenue (US$ million) 1,927 1,751 10% 458 451 2% EBITDA (US$ million) 562 487 15% 120 110 9% EBITDA margin 29% 28% 1% 26% 24% 2% FFB Pro
Slide 12: Plantation Area
Plantation Area GAR’s oil palm plantations continue to be leading in scale and operational excellence Mature Area - ha Planted Area - ha Age Profile as of 31 Dec 2014 472,837 471,100 5% 7% 440,578 430,711 100,886 99,998 22,285 14% 95,799 92,221 29% 32,259 65,666 136,825 344,779 371,951 371,102 338,4
Slide 13: Segmental Results – Palm and Lauric
Segmental Results – Palm and Lauric Strong growth in revenue supported by expanding downstream capabilities FY 2014 FY 2013 YoY 4Q 2014 3Q 2014 QoQ Revenue (US$ million) 6,465 5,150 26% 1,562 1,523 3% Sales Volume (‘000 tonnes) 8,092 6,753 20% 2,144 1,928 11% EBITDA (US$ million) 57 142 -60% 10 7 46
Slide 14: Strengthening Position Across the Downstream Value Chain
Strengthening Position Across the Downstream Value Chain Sourcing of Product Sales and raw materials Processing customisation distribution • Over eight million • Full utilisation of all our • Sales of palm based • Destination sales grew tonnes of palm refineries in Indonesia refined products by 46%,
Slide 15: Segmental Results – Oilseeds and Others
Segmental Results – Oilseeds and Others Results impacted by challenging market environment in China, but improving over previous quarter FY 2014 FY 2013 YoY 4Q 2014 3Q 2014 QoQ Oilseeds Revenue (US$ million) 845 1,134 -25% 176 245 -28% Sales Volume (‘000 tonnes) 1,354 1,672 -19% 323 394 -18% EBITDA
Slide 16: Strategy and Outlook
4 Strategy and Outlook 9) gar agribusiness and food
Slide 17: Strategic Priorities
Strategic Priorities Build on core competitive strengths and leverage scale to maximize long-term shareholder returns Objective: Sustained Growth and Profitability Upstream Downstream Sustain cost Optimise Grow Shift product To stay leadership value destination mix to higher throughout business valu
Slide 18: Holistic Approach to Sustainability
Holistic Approach to Sustainability Forest Conservation Policy (FCP) GAR is partnering with The Forest Trust (TFT) to ensure implementation of our FCP in our upstream and downstream operations. High Carbon Stock (HCS) Forest Conservation • In August 2014, GAR joined an HCS Steering Group comprising
Slide 19: Growth Strategy and Outlook
Growth Strategy and Outlook GAR continues to expand its operation capabilities, best-in-class plantation management and solid financial position to capitalise on the robust long-term industry outlook Upstream • Expanding palm oil plantations through organic growth and acquisition • Exploring new ini
Slide 20: Appendix
5 Appendix ~~) Jar agribusiness and food
Slide 21: Age Profile
Age Profile The average age of GAR’s plantations is 14 years, securing the long-term growth of its production Immature Young Prime 1 Prime 2 Old Total (in ha) (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) 31 December 2014 Nucleus 27,173 54,051 175,371 93,071 22,285 371,951 Plasma 5,
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