Agrana Beteiligungs-ag · VIE:AGR
Agrana Beteiligungs-ag — Austrian Small Cap Day (Vienna) 2010
25 slides from Agrana Beteiligungs-ag's conference presentation, Jun 15, 2010
Slide 1: AGRANA Beteiligungs-AG Austrian Small Cap Day (Vienna)
R A NA AG A n nual ne 10 Onli t 2009| m r co Repo r.agrana. //i http: AGRANA Beteiligungs-AG Austrian Small Cap Day (Vienna) 15 June 2010 June 15, 2010|1
Slide 2: At a glance
At a glance AGRANA‘s diversified and balanced portfolio Sugar Starch Fruit • Sugar is sold • AGRANA produces starch and special • Fruit juice concentrates (20 % of - to consumers via the food starch products. segment revenue) customers are trade (20%) and • Starch is a complex carbohydrate fruit jui
Slide 3: Strategy
Strategy Investor and customer value from: • Balance of risk • Exchange of know-how • Cost savings from synergies Starch Europe Sugar Fruit Central & Global Eastern Europe (CEE) Refining of agricultural raw materials June 15, 2010|3
Slide 4: Shareholder Structure
Shareholder Structure Shares outstanding: 14,202,040 Market capitalisation (as of 10 June 2010): € 881.7 million ~ 10.0% Raiffeisen Bank Coop. Lower Austria ZBG Südzucker ~ 80% ~ 50% ~ 50% Z&S Free Float Zucker und Stärke Holding AG 24.5% 75.5% June 15, 2010|4
Slide 5: Revenue Evolution
Revenue Evolution €m 2,026.3 1,989.2 % R + 12 1,915.8 1,892.3 CAG 1,499.6 981.0 842.8 875.7 866.4 760.2 703.0 1999|00 2000|01 2001|02 2002|03 2003|04 2004|05 2005|06 2006|071 2007|08 2008|09 2009|10 1) incl. 14 months Segment fruit June 15, 2010|5
Slide 6: Consolidated Overview
Consolidated Overview 2009|10 2008|09 Change Revenue €m 1,989.2 2,026.3 -1.8% EBITDA €m 176.2 119.2 +47.9% Operating profit before exceptional items 91.9 37.8 + > 100% €m Operating margin % 4.6 1.9 Profit/(loss) for the period before minority interests €m 72.7 (15.9) + > 100% Dividend € 1.951 1.95 I
Slide 7: Financial Highlights 2009|10
Financial Highlights 2009|10 Significant improvement of business performance Positive net financial items of € 0.5m (prior year: deficit of € 67.1m) due to lower interest costs (lower net debt, lower interest rates) and currency translation gains (prior year: unrealised translation losses due to EUR
Slide 8: Segment Split 2009|10
Segment Split 2009|10 Revenue Revenue change Operating profit Operating by segment vs. 2008|09 by segment1 margin1 as a % of group revenue SUGAR 34.4% - 2.6% 16.5% 2.2% STARCH 25.1% - 3.9% 44.7% 8.2% FRUIT 40.5% + 0.2% 38.8% 4.4% 1) before exceptional items June 15, 2010|8
Slide 9: Highlights 2009|10
Highlights 2009|10 o Decline in revenue due to lower sales of quota sugar and Sugar lower prices Segment o Cost savings compensate missing gross margins of the lower quota o Abolition of restructuring fees started as of October 2009 o Decline in revenue due to lower sales prices Starch o Overall pos
Slide 10: SUGAR.
et] . ¥ ma « SUGAR. mT June 15, 2010]10
Slide 11: SUGAR Segment Highlights
SUGAR Segment Highlights Revenue €m 702.5 -2.6% Revenue € 684.1m 684.1 • Lower quota sugar revenue and decreased quota sugar sales prices led to a 2.6% decrease in revenue • Significant increase in non-quota sugar volumes 2008|09 2009|10 Operating Profit €m Operating Profit € 15.2m 15.8 -3.7% 15.2 •
Slide 12: Reform Process of EU Sugar Regime
Reform Process of EU Sugar Regime SMY (Sugar Marketing Year) m tons EU-27 sugar quota for SMY Sugar quota renouncements Imports from ACP, LDC & Western Balkan Agreement -1.1 18.5 EU demand 17.4 -0.7 16.7 -3.3 No 4.0 final cut 13.4 -0.1 13.3 17.3 SMY SMY SMY SMY SMY 2005|06 2006|07 2007|08 2008|09 20
Slide 13: Quotation for Raw Sugar & White Sugar
Quotation for Raw Sugar & White Sugar January 1, 2008 – June 10, 2010 FY 2009|10 759 USD/t 30y high 659 USD/t White sugar (LSE) 10.06.2010 507 USD/to = 423 EUR/to Raw sugar (NYSE) 10.06.2010 341 USD/to = 284 EUR/to June 15, 2010|13
Slide 14: STARCH.
STARCH. June 15, 2010|14
Slide 15: STARCH Segment Highlights
STARCH Segment Highlights Revenue €m 519.4 -3.9% 499.2 Revenue € 499.2m • Lower starch sales prices resulting from the raw- material-driven adjustment of sales contracts with customers • Starch sales volumes were pushed up significantly, esp. native starches and saccharification products 2008|09 200
Slide 16: Price Development of Cereals
Price Development of Cereals January 1, 2008 – June 10, 2010 FY 2009|10 CORN Quotation (Paris) 10.06.2010 150 €/ton WHEAT Quotation (Paris) 10.06.2010 128 €/ton June 15, 2010|16
Slide 17: FRUIT.
FRUIT. June 15, 2010|17
Slide 18: FRUIT Segment Highlights
FRUIT Segment Highlights Revenue €m 804.4 805.9 +0.2% Revenue € 805.9m • Increases in sales volumes of fruit juice concentrates • Volume growth in fruit preparations • Prices for apple juice concentrate decreased to historically lowest level 2008|09 2009|10 Operating Profit/Loss €m 35.7 Operating pr
Slide 19: Price Lines EUR/kg (DDP)
Price Lines EUR/kg (DDP) 01 / 0,25 0,5 0,75 1 1,25 1,5 1,75 2 2,25 2,5 2,75 3 05 94 / 09 94 /9 01 4 / June 15, 2010|19 05 95 / 09 95 / 01 95 / 05 96 / 09 96 historically lowest level / 01 96 / 05 97 / 09 97 / 01 97 / 05 98 / Max. Price 09 98 / 01 98 / 05 99 /9 09 9 / 01 99 / 05 00 /0 09 0 / 01 00 /
Slide 20: Fruit Preparation Innovations
Fruit Preparation Innovations Magic Drops Chocolate Fruities • Capsules with a size of a few • Small chocolate particles filled with millimetres in which process- liquid fruit (fruit puree), for mixing stable, functional substances, e.g. with fruit preparation into yoghurt or vitamins, antioxidants
Slide 21: Outlook
— & — ; CH. FRUIT. AGO 3> ed SUGAR. STAR June 15, 2010|21
Slide 22: Outlook AGRANA Group
Outlook AGRANA Group • Group revenue 2010|11 to be expected stable with increased sales volumes • Further improvement of operating profit 2010|11 expected o Enhanced purchasing strategy o Consistent and sustainable cost management • CAPEX of about € 55m June 15, 2010|22
Slide 23: Segment Outlook
Segment Outlook o Limitation in sales of quota sugar due to sugar regime SUGAR Segment o Capacity utilisation with production of non-quota sugar o Expected sales stabilization in Romania and Bosnia- Herzegovina after dramatic world market price increases at the beginning of the calendar year o Recov
Slide 24: Priorities for FY 2010|11
Priorities for FY 2010|11 • Focus on risk management in the areas of raw materials and energy (the Group’s two largest cost factors) • Push forward further reorganisation improvements • Maintain reduced investment program • Complete long term refinancing program • Develop greater flexibility in the
Slide 25: 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
AGRANA Beteiligungs-AG — Austrian Small Cap Day (Vienna) 2010 on 6ix