Kernel Holding S.a. · GPW:KER
Kernel — Q1 FY2012 Earnings Presentation
9 slides from Kernel's earnings presentation, November 2011
Slide 1: Q1 FY2012 Financial results presentation
Q1 FY2012 Financial results presentation Q1 FY2012 1
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. None of th
Slide 3: Q1 Summary of Performance, Markets & Events
Q1 Summary of Performance, Markets & Events Company performance Disappointing results in the grain segment as a result of the government’s delayed termination of the grain export tax and a non-recurring contract loss of US$5 million. Markets Record grain and sunflower seed harvests in both Ukr
Slide 4: Income Statement Highlights
Income Statement Highlights (1) Amounts in USD millions, except for EPS and margins Q1 FY2011 Q1 FY2012 % change Revenue 345,4 391,5 13,4% Profit from operating activities (EBIT) 59,7 31,0 -48,2% Net profit (2) 34,2 32,9 -3,9% EBITDA (3) 67,5 45,1 -33,1% EPS (4) 0,46 0,41 Gross margin 27.0% 19.7% Op
Slide 5: Balance Sheet Highlights
Balance Sheet Highlights (1) Amounts in USD millions 30 September 2010 30 June 2011 30 September 2011 Invested Capital Cash & cash equivalents 44,5 115,9 173,2 Net trade accounts receivable 53,8 111,6 122,7 Inventory 373,0 183,7 385,4 of which: Readily Marketable Inventories(2) 367,2 168,3 356,4 Oth
Slide 6: Cash Flow Highlights
Cash Flow Highlights (1) Amounts in USD millions Q1 FY2011 Q1 FY2012 Operating profit before working capital changes 50,1 54,5 Changes in working capital (214,2) (110,5) Cash used in operations (164,1) (56,0) Finance costs paid (8,2) (12,1) Income tax paid (0,3) (0,5) Net cash used in operating acti
Slide 7: Liquidity Position & Credit Metrics
Liquidity Position & Credit Metrics (1) Amounts in USD millions, except ratios 30 September 2010 30 September 2011 Cash 44,5 173,2 Inventory 373,0 385,4 of which: Readily Marketable Inventories 367,2 356,4 RMI/Inventories 98.5% 92.5% Gross interest-bearing debt 507,9 694,3 Net interest-bearing debt
Slide 8: Segmental Results
Segmental Results Revenue(1), USD million Operating profit(2), USD million Operating margin, % Tonnage(3) Q1 FY11 Q1 FY12 % change Q1 FY11 Q1 FY12 % change Q1 FY11 Q1 FY12 Q1 FY11 Q1 FY12 % change Bottled oil 35,2 52,5 49.4% 6,7 8,0 18.9% 19.1% 15.2% 33,245 31,175 (6.2)% Bulk oil 182,1 191,6 5.2% 25
Slide 9: FY2012 Outlook
FY2012 Outlook Grain export taxes have been lifted and grain operations have returned to their normal volumes Approximately 3.0 million tons of grain exports planned in FY2012 with an average margin of 7-8% Current crushing margins are healthy Current record high sunflower seed harvests