Kernel Holding S.a. · GPW:KER
Kernel — Q2 FY2014 Earnings Presentation
12 slides from Kernel's earnings presentation, 2014
Slide 1: Q2 FY2014 Financial Results Presentation
Q2 FY2014 FINANCIAL RESULTS PRESENTATION Kernel Holding S.A. and Subsidiaries
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: Q2 FY2014 results highlights
Q2 FY2014 results highlights Key highlights Revenues decreased 23.8% y-o-y to USD 725.5 million in Q2 FY2014, driven by lower Export terminals’ throughput increased 3.7% y-o-y to 1.3 million tons in Q2 FY2014, soft commodity prices and a mix of lower sunflower oil sales volumes and higher with R
Slide 4: Q2 FY2014 results highlights
Q2 FY2014 results highlights Amounts in USD million, except for EPS and ratios Q2 FY2014 Q2 FY2013 y-o-y Q1 FY2014 q-o-q Revenue 725.5 952.6 (23.8%) 412.9 75.7% EBITDA (1) 58.1 80.9 (28.2%) 3.0 19.5x Net profit attributable to equity holders of Kernel Holding S.A. (9.1) 32.9 n/m (33.8) n/m EBITDA ma
Slide 5: Segment results summary
Segment results summary Revenue(1), USD million EBITDA, USD million EBITDA margin, % Q2 FY2014 Q2 FY2013 y-o-y Q2 FY2014 Q2 FY2013 y-o-y Q2 FY2014 Q2 FY2013 Bottled oil 44.6 53.8 (17.2%) 12.9 8.0 61.3% 28.9% 14.8% Bulk oil 300.7 526.5 (42.9%) 48.7 63.8 (23.6%) 16.2% 12.1% Export terminal 14.6 15.9 (
Slide 6: Sunflower oil segments performance
Sunflower oil segments performance Sunflower oil in bulk Sunflower seed crush, tons Sunflower oil sales in bulk were in line with production levels: 262 thousand tons in 800 000 Q2 FY2014, down 31.6% y-o-y from unusually high levels in Q2 FY2013. Compared to 700 000 Q1 FY2014, sales increased by 2
Slide 7: Grain, silo and export terminals segments performance
Grain, silo and export terminals segments performance Grain Grain sales, tons Sales volumes increased to a record 1.3 million tons in Q2 FY2014 versus 1.1 million tons in Q2 1 200 000 FY2012 FY2013 FY2014 FY2013. Exports from the Russian Federation increased two-fold, reflecting our first full sea
Slide 8: Farming segment performance
Farming segment performance Farming Crop yields, t/ha(1), net A total of 1.1 million tons of grains and 0.3 million tons of oilseeds harvested in FY2014 8.0 from 387 thousand hectares (up 56.8% y-o-y). Autumn crop yields (83.8% of acreage) 7.1 7.0 are significantly below management’s expectations
Slide 9: Balance sheet highlights
Balance sheet highlights Amounts in USD millions 31 December 2013 30 June 2013 30 December 2012 Invested Capital Cash & cash equivalents 40.1 78.8 45.9 Net trade accounts receivable 161.8 149.6 223.4 Inventory 742.5 270.2 907.7 of which: readily marketable inventories 615.0 175.1 788.3 Biological as
Slide 10: Cash flow highlights
Cash flow highlights Amounts in USD millions Q2 FY2014 Q2 FY2013 Operating profit before working capital changes 62.8 87.1 Changes in working capital (331.2) (299.4) Cash obtained from/ (used in) operations (268.4) (212.3) Finance costs paid (19.7) (22.1) Income tax paid (2.9) (10.9) Net cash obtain
Slide 11: Liquidity position & credit metrics
Liquidity position & credit metrics Amounts in USD millions, except ratios 31 December 2013 30 June 2013 30 December 2012 Gross interest-bearing debt 1 057.9 734.2 1 232.5 Cash 40.1 78.8 45.9 Net interest-bearing debt 1 017.7 655.4 1 186.6 Readily marketable inventories 615.0 175.1 788.3 Adjusted ne
Slide 12: IR contact
IR contact • Yuriy Kovalchuk Investor Relations Director investor_relations@kernel.ua • Yegor Samusenko Investor Relations Manager y.samusenko@kernel.ua Tel.: (+38-044) 461-88-01 Q2 FY2014 12