Kernel Holding S.a. · GPW:KER
Kernel — FY2009 Earnings Presentation
11 slides from Kernel's earnings presentation, Oct 30, 2009
Slide 1: FY 2009 Full Year Results
FY 2009 Full Year Results 30 October 2009 .
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, express 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 the
Slide 3: FY2009 Financial Highlights
FY2009 Financial Highlights* Amounts in USD millions, except for EPS and ratios FY2008 FY2009 % change Revenue 663.1 1 047.1 57.9% Operating profit (EBIT) 111.6 166.6 49.3% Net profit** 82.2 132.0 60.6% Cash 88.5 129.3 46.1% EPS *** 2.08 1.97 Net Debt / EBITDA **** 1.3 0.9 EBITDA / Interest 4.4 5.9
Slide 4: Key Drivers in FY2009
Key Drivers in FY2009 Markets Record 2008 harvest in Ukraine: 53 million tons of grain and 6.5 million tons of sunflower seed harvested Record volatility in commodity markets: 50% decrease in soft commodity prices over 1st half financial year Record disruptions on international and domestic fi
Slide 5: Income Statement Highlights
FY2009 Income Statement Highlights Amounts in USD millions, except for EPS and margins FY2008 FY2009 % change Revenue 663.1 1 047.1 57.9% EBITDA* 123.2 190.1 54.3% Operating profit (EBIT) 111.6 166.6 49.3% Net profit** 82.2 132.0 60.6% EPS *** 2.08 1.97 Gross margin 23.9% 30.3% EBITDA margin 18.6% 1
Slide 6: Balance Sheet Highlights
FY2009 Balance Sheet Highlights Amounts in USD millions FY2008 FY2009 Invested Capital Cash & cash equivalent 88.5 129.3 Net trade accounts receivable 48.7 32.4 Inventory 144.7 99.1 Of which: Readily Marketable Inventories * 138.6 94.9 Other currents assets 95.4 117.6 Net property, plant & equipment
Slide 7: Cash Flow Highlights
FY2009 Cash Flow Highlights Amounts in USD millions FY2008 FY2009 Operating profit before working capital changes 116.1 188.2 Changes in working capital (210.3) (25.0) Cash obtained from / (used in) operations (94.1) 163.2 Finance costs paid (28.1) (32.2) Income tax paid (3.4) (1.7) Net cash obtaine
Slide 8: Segments Results – FY2009
Segments Results – FY2009 Revenue, $ million Operating profit, $ million Operating margin, % Tonnage * FY08 FY09 % change FY08 FY09 % change FY08 FY09 FY08 FY09 % change Bottled oil 147.1 122.0 (17.1)% 22.1 27.2 23.1% 15% 22.3% 101 98 (3)% Bulk oil 325.1 256.9 (21.0)% 52.1 54.7 5.0% 16% 21.3% 167 22
Slide 9: Liquidity position
FY2009 Liquidity position Amounts in USD millions, except ratios FY2008 FY2009 Cash 88.5 129.3 Inventories 144.7 99.1 Of which: Readily Marketable Inventories 138.6 94.9 RMI/Inventories 95.8% 95.8% Cash balances remain high due to M&A opportunities and perceived weakness in financial markets Yea
Slide 10: Credit metrics
FY2009 Credit metrics Amounts in $m, except ratios FY2008 FY2009 Gross interest-bearing debt 255.7 294.6 Cash 88.5 129.3 Net interest-bearing debt 167.2 165.3 Readily marketable inventories 138.6 94.9 Adjusted net financial debt * 28.6 70.4 Total shareholders’ equity 396.8 355.8 Net debt / EBITDA **
Slide 11: FY2010 Outlook
FY2010 Outlook FY2010 guidance unchanged at USD 1 050 million revenue USD 185 million EBITDA USD 130 million Net income FY2009 11