Auga Group Ab · OMXVSE:AUG1L
Auga Group Ab — 9M 2023 Earnings Presentation
31 slides from Auga Group Ab's earnings presentation, Dec 1, 2023
Slide 1: Presentation on the financial results for the 9 months of 2023
Presentation on the financial results for the 9 months of 2023
Slide 2: Presented by
Presented by Kęstutis Juščius Chair of the Board of AUGA group, AB 2
Slide 3: Content
Content 1. Financial results for the 9 months of 2023 and corresponding overview by segment 2. Outlook for the year 2024 3. Developments in the strategy implementation and Tech projects 3
Slide 4: Results for the 9 months of 2023
Results for the 9 months of 2023 EUR million 2023 9M 2022 9M Variance 2021 9M Revenue 59.93 57.71 +4% 54.90 Gross profit (1.87) 13.14 -114% 1.70 Net profit (12.15) (0.62) +1,860% (10.43) EBITDA (1.22) 16.78 -107% 5.45 The revenue of the 9 months of 2023 has practically stayed on the same level with
Slide 5: Results by segment: crop growing
Results by segment: crop growing
Slide 6: Crop growing
Crop growing Overview of main crops Wheat 2022/2023 2021/2022 Variance Area, ha 11,345 11,693 -3% Wheat and legumes account for 2/3 of Yield, t/ha 3.58 3.41 +5% land dedicated to cash crops. Price, Eur/t 260 403 -35% Cost, Eur/ha 1,142 1,033 +11% Significant decrease of legumes’ yield Profit, Eur/ha
Slide 7: Crop growing: commodity price trends
Crop growing Commodity price trends Organic vs. Conventional wheat price in Germany*, EUR/t 600 Organic commodity market is 550 slow in 2023 and spot selling 500 prices are significantly lower 450 than statistical average. 400 402 AUGA’s accounted POH 350 price is now fixed at EUR 260 300 260 close
Slide 8: Crop growing: revaluation of biological assets
Crop growing Revaluation of biological assets Gain (loss) on initial recognition of biological asset at fair value per quarter, EUR '000 In Q3 the decrease in value was 6 000 mainly due to lower yield of 4 000 3 529 3 756 2 915 legumes (EUR -3.95 million) and 1 594 1 500 2 000 higher than planned co
Slide 9: Crop growing: financial results
Crop growing Financial results 2023 9M 2022 9M Variance 2021 9M Total cultivated land, ha 38,190 38,525 -1% 39,139 Decreased commodity prices had 2023 9M 2022 9M Variance 2021 9M EUR million major negative impact. Total gain (loss) on revaluation of (4.16) 8.20 n/a (1.35) biological assets (crops) A
Slide 10: Results by segment: dairy
Results by segment: dairy
Slide 11: Dairy
Milk yield, kg/cow/day Dairy 23,0 22,7 23,0 22,5 22,4 22,3 22,9 22,0 22,5 22,3 22,0 21,9 21,9 22,0 21,8 Yield and price dynamics 22,0 22,1 21,8 21,3 21,3 21,2 21,6 21,0 21,3 20,7 21,5 Milk yield per cow was 4% 21,2 20,6 20,3 20,1 20,0 20,6 higher in the 9 months of 2023 20,0 19,9 19,5 vs. the same p
Slide 12: Dairy: financial results
Dairy 2023 9M 2022 9M Variance 2021 9M Sales volume*, t 20,077 20,249 -1% 20,168 Financial results Milk 18,528 19,305 -4% 19,112 Total produced milk volume Milk commodities 885 332 +167% 502 increased by 2% YoY. The Cattle 664 612 +8% 554 registered sales volume here EUR million 2023 9M 2022 9M Vari
Slide 13: Results by segment: mushroom growing
Results by segment: mushroom growing
Slide 14: Mushroom growing
Mushroom Price of mushrooms (excl. transport and packaging), EUR/t growing 2 600 2 440 2 432 2 535 2 319 2 300 2021 Price and production volume 2 123 2 164 dynamics 2 000 1 998 1 954 1 952 1 926 2022 1 896 2023 Price of mushrooms excluding 1 700 transport and packaging was Q1 Q2 Q3 Q4 17% higher YoY
Slide 15: Mushroom growing: financial results
Mushroom growing Financial results 2023 9M 2022 9M Variance 2021 9M Mushrooms sales volume, t 8,640 8,834 -2% 9,072 Higher sales prices, contained Average price (EUR/t) 2,605 2,359 +10% 2,326 production costs and lower energy prices have led to the EUR million 2023 9M 2022 9M Variance 2021 9M improv
Slide 16: Results by segment: FMCG
j misija be kainos gamtal gy misija isi iste be kainos Be eincs Be kainos gamtal pe gerntai pa | gamtai py misija be kainos gamtai gy |
Slide 17: FMCG
FMCG Change in revenue structure EUR million 2023 9M 2022 9M Variance 2021 9M Sales revenue 5.28 5.50 -4% 4.88 In July 2023, AUGA group sold Cost of goods sold (4.11) (4.49) -8% (3.41) its subsidiary Grybai LT, Gross profit 1.17 1.01 +16% 1.47 producer of ready-to-eat soups and preserved products,.
Slide 18: FMCG: new product line for consumers
FMCG New product line for consumers In spring 2023, AUGA has launched a new product line with ‘mission no cost to nature’: milk, kefir, curd, sour cream, oat flakes, and eggs. In Q3 the product line has been extended to include vegetables, butter, and UHT milk as well as a lactose-free option. The m
Slide 19: Outlook for 2024
Outlook for 2024
Slide 20: Outlook for 2024
40 Outlook for 2024 EUR, million 30 The main assumptions for the 2024 EBITDA projections 13,8 are the following: • The prices for organic commodities are based on the 20 2,0 0,5 2,2 lower 2023 POH-price level, while price for organic milk 2,0 is based on the 0.48 EUR/l level. Est. EUR 10 23.3 millio
Slide 21: Strategy implementation and Tech projects
Strategy implementation and Tech projects
Slide 22: Green infrastructure
Green infrastructure Biomethane 3 biomethane infrastructure objects have become operational. Biomethane connectivity to the grid are being resolved. 22
Slide 23: Tech development: sustainably powered machinery
Tech development Sustainably powered machinery The AUGA M1 tractors from the first production batch have undergone 2023 seasonal field-test. The generated valuable findings will allow AUGA Tech to improve the technology and ensure its’ reliability on a scale. Half-size of M1 electric multi-functiona
Slide 24: Tech development: specialized feed technology
Tech development Specialized feed technology AUGA Tech has been testing the technology for the last 2 years. Recently, the following results have been validated and approved by scientists of Veterinary Academy of the Lithuanian University of Health Sciences (LSMU): 1. 13% increase in the milk yield
Slide 25: The roadmap for AUGA Technology portfolio
Tech development The roadmap for AUGA Technology portfolio A set of AUGA technologies has been delivered to a degree that show their functional viability, and, above all, ability to address the pollution problems. These are ready to be scaled, but not at the expense of AUGA group operational and ca
Slide 26: We know how to feed the world in a carbon-neutral way
We know how to feed the world in a carbon-neutral way Actions needed by 2050: • Boost food supply by 60%*. • Reduce agricultural emissions by 67%**. • Preserve yields from negative climate impact. AUGA’s technologies are aimed to solving these global issues. *(2010 baseline of 24% global emissions)
Slide 27: Synonim for sustainable food and lifestyle
SYNONIM FOR SUSTAINABLE FOOD AND LIFESTYLE
Slide 28: Share price information
Share price information AUGA group, AB share price on Nasdaq Vilnius, EUR The share price decreased by 0,7 18% (from EUR 0.390 to EUR 0,6 0.319 per share) from the 0,5 beginning of 2023 to 30th of 0,4 November 2023. 0,3 The average monthly turnover 0,2 was EUR 0.20 million. 0,1 0 2014.01 2015.01 201
Slide 29: More information
More information • Nasdaq Vilnius, Baltic Main List, AUGA group, AB shares: AUG1L • Nasdaq Vilnius, Baltic Bond List, AUGA group, AB green bonds: AUGB060024A • Information for investors: http://auga.lt/en/for-auga-investors • Analyst reports, data in MS Excel format: https://auga.lt/en/investors/rep
Slide 30: Important notice
IMPORTANT NOTICE This presentation has been prepared by AUGA group, AB (AUGA group) solely for informational purposes and must not be relied upon, disclosed or published, or used in part for any other purpose. The presentation should not be treated as investment advice or provide basis for valuation
Slide 31: Synonim for sustainable food and lifestyle
SYNONIM FOR SUSTAINABLE FOOD AND LIFESTYLE