Agrana Beteiligungs-ag · VIE:AGR
Agrana Beteiligungs-ag — Q1-3 2017|18 Earnings Presentation
29 slides from Agrana Beteiligungs-ag's earnings presentation, Jan 11, 2018
Slide 1: Results for the first three quarters of 2017|18
ZU S UC GKAERR ST ÄRC TA KE H FRUC I THT Der The natürliche natural upgrade Mehrwert AGRANA Beteiligungs-AG Results for the first three quarters of 2017|18 Presentation for investors and analysts Vienna, 11 January 2018
Slide 2: Q1-3 2017|18 Overview
Q1-3 2017|18 OVERVIEW Significant improvement in Group EBIT, with all segments going up But EBIT in Q3 2017|18 (3 months) went down by 13.3% year-on-year Leading SUGAR Revenue: € 2,010.6 m (up 2.2%; Q1-3 prior SUPPLIER year: € 1,967.5 m) in Central, Eastern & Southeastern Europe EBIT: € 171.
Slide 3: Revenue by Segment
Q1-3 2017|18 VS PRIOR YEAR REVENUE BY SEGMENT €m 1,967.5 2,010.6 Q1-3 2017|18 +0.1% 884.0 44.0% 27.4% 883.1 Fruit 28.6% Starch 551.9 576.0 Sugar Q1-3 2016|17 GROUP 532.5 550.6 27.1% 44.9% Q1-3 2016|17 Q1-3 2017|18 28.0% AGRANA Results for Q1-3 2017|18, 11 January 2018 3
Slide 4: EBIT by Segment
Q1-3 2017|18 VS PRIOR YEAR EBIT BY SEGMENT Q1-3 2017|18 24.5% 7.6% €m 171.6 34.5% 6.7% 137.7 59.1 Fruit 56.6 41.0% Starch 12.2% Sugar 70.4 Q1-3 2016|17 GROUP 58.0 EBIT 16.8% margin 4.3% 42.1 23.1 Q1-3 2016|17 Q1-3 2017|18 41.1% 42.1% 7.0% 8.5% 6.4% 10.5% AGRANA Results for Q1-3 2017|18, 11 January 2
Slide 5: Investment Overview
MOST IMPORTANT PROJECTS IN THE GROUP INVESTMENT OVERVIEW Q1-3 2017|18 €m 95.5 FRUIT • Various projects across all 42 production sites (including construction of the new, second fruit preparations plant 28.9 in China and a new carrot concentrate production line in 69.6 Hungary) 15.6 STARCH • Expansio
Slide 6: Sugar Segment
SEGMENT ey thre SUGAR 5: Ha - a -_ = To us, important synergies.
Slide 7: Sugar Segment: Market Environment in Q1-3 2017|18
MARKET ENVIRONMENT IN Q1-3 2017|18 SUGAR SEGMENT World sugar market After two deficit years a production surplus is forecasted for SMY 2017|18 Sugar quotations at commodity exchanges follow a bearish trend mainly driven by a surplus in the world sugar balance linked to positive harvest outlook
Slide 8: Sugar Quotation: Raw Sugar & White Sugar
RAW SUGAR & WHITE SUGAR SUGAR QUOTATION 1 January 2006 – 9 January 2018 (USD) 2017|18 FY 4-years-high: Raw sugar, 5/10/16: 524.9 USD/t White sugar, 28/9/16: 612.0 USD/t White sugar (LIFFE) 9 Jan. 2018: 386.8 USD/t = 322.5 EUR/t Raw sugar (ICE) 9 Jan. 2018: 322.8 USD/t = 269.1 EUR/t 1/1/2009 7-years-
Slide 9: Sugar in the EU: Monthly Average Prices
SUGAR IN THE EU MONTHLY AVERAGE PRICES (DECEMBER 2008 TO DECEMBER 2017; € PER TONNE) Recent decline in October 2017 -> first month of the new SMY 2017|18 (without quotas and minimum beet prices) QS - Min: 414 € per tonne (February, June and July 2015) QS - Max: 738 € per tonne (January 2013) Source:
Slide 10: Sugar Segment: Financial Results for Q1-3 2017|18
FINANCIAL RESULTS FOR Q1-3 2017|18 SUGAR SEGMENT REVENUE REVENUE slightly up at € 550.6 million €m Sugar segment's revenue was 3.4% up compared to the 550.6 year-ago period 532.5 Positive effects came from an increase in sugar sales prices relative to the first nine months of the prior year, and
Slide 11: Starch Segment
SEGMENT ath ree segments. ° STARCH ae To us, important synergies.
Slide 12: Starch Segment: Market Environment in Q1-3 2017|18
MARKET ENVIRONMENT IN Q1-3 2017|18 STARCH SEGMENT Food starch segment was steady in terms of sales quantities; prices for native and modified starch products moved upward Principal upside driver in non-food starches was the demand from the paper and corrugated board industry -> steady growth of
Slide 13: Commodity Prices: Wheat & Corn
WHEAT & CORN (EURONEXT, PARIS) COMMODITY PRICES 1 January 2006 – 9 January 2018 (EUR) 2017|18 FY Wheat (Paris) 9 Jan. 2018: 161.0 EUR/t Corn (Paris) 9 Jan. 2018: 158.5 EUR/t AGRANA Results for Q1-3 2017|18, 11 January 2018 13
Slide 14: Development of Ethanol Prices
1 JANUARY 2008 – 8 JANUARY 2018 (EUR) DEVELOPMENT OF ETHANOL PRICES Average daily ethanol price in EUR/m³ (Ethanol T2 FOB Rdam EUR/cm Platts) 900 Average daily petrol price in EUR/m³ (PREM UNL-10ppm/FOB RDAM BARG Platts) 800 700 600 500 400 300 200 8 January 2018: Ethanol: 479.5 EUR/m3 100 Petrol: 3
Slide 15: Starch Segment: Financial Results for Q1-3 2017|18
FINANCIAL RESULTS FOR Q1-3 2017|18 STARCH SEGMENT REVENUE REVENUE at € 576.0 m slightly above prior year €m Growth of 4.4% compared to the previous year period 576.0 551.9 Key positive drivers were higher sales volumes of starches and saccharification products and higher bioethanol prices than i
Slide 16: Fruit Segment
SEGMENT ey thre FRUIT ae E a ' _ — To-us; important synergies.
Slide 17: Fruit Segment: Market Environment in Q1-3 2017|18
MARKET ENVIRONMENT IN Q1-3 2017|18 FRUIT SEGMENT Fruit preparations Global market for spoonable fruit yoghurts is expected to grow at about 1% in the 2017 calendar year(1) Major markets such as Europe and North America are saturated Expanding markets in the Middle East & Africa (growth of 5.1%
Slide 18: Fruit Segment: Financial Results for Q1-3 2017|18
FINANCIAL RESULTS FOR Q1-3 2017|18 FRUIT SEGMENT REVENUE REVENUE stable at € 884.0 million €m Fruit preparations: small increase in sales volumes and 883.1 +0.1% 884.0 somewhat higher selling prices added up to slight revenue growth Fruit juice concentrates: revenue decreased as a result of lowe
Slide 19: Consolidated Financial Statements
Q1-3 2017|18 CONSOLIDATED FINANCIAL STATEMENTS 19
Slide 20: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT Q1-3 Q1-3 Q3 Q3 €m (condensed) 2017|18 2016|17 2017|18 2016|17 Revenue 2,010.6 1,967.5 648.5 647.2 EBITDA1 213.8 183.9 64.2 69.7 Operating profit before except. items and results of equity-accounted JV 149.4 121.6 36.0 43.3 Share of results of equity-accounted JV 25.8 2
Slide 21: Exceptional Items in the Sugar Segment
EXCEPTIONAL ITEMS IN THE SUGAR SEGMENT Q1-3 Q1-3 Q3 Q3 €m (condensed) 2017|18 2016|17 2017|18 2016|17 Exceptional items (3.6) (7.6) (0.8) (4.7) Exceptional items in the first three quarters of 2017|18 amounted to a net expense of € 3.6 million and resulted largely from costs of restructuring measu
Slide 22: Analysis of Net Financial Items
ANALYSIS OF NET FINANCIAL ITEMS Q1-3 Q1-3 €m 2017|18 2016|17 Change Net interest expense (6.0) (6.9) +13.0% Currency translation differences (2.7) (0.7) >-100% Other financial items (2.3) (5.7) +59.7% Total (11.0) (13.3) +17.3% Net interest expense: lower amount of net debt + lower interest rates
Slide 23: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT Q1-3 Q1-3 €m (condensed) 2017|18 2016|17 Change Operating cash flow before changes in working capital 243.2 186.8 +30.2% Changes in working capital (6.7) (7.9) +15.2% Total of interest paid/received and tax paid (38.9) (25.8) -50.8% Net cash from operating activities
Slide 24: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET €m (condensed) 30 Nov. 2017 28 Feb. 2017 Change Non-current assets 1,173.9 1,135.3 +3.4% Current assets 1,279.3 1,346.1 -5.0% Total assets 2,453.2 2,481.4 -1.1% Equity 1,444.4 1,411.9 +2.3% Non-current liabilities 324.5 296.6 +9.4% Current liabilities 684.3 772.9 -11.5% To
Slide 25: Outlook 2017|18
2017|18 OUTLOOK 25
Slide 26: Outlook for 2017|18: AGRANA Group
AGRANA GROUP OUTLOOK FOR 2017|18 AGRANA Group Revenue 2017|18 EBIT Guidance confirmed EBIT 2017|18 For the full 2017|18 financial year, AGRANA expects Group revenue to rise slightly and EBIT to increase significantly Total investment across the three business segments in the financial year,
Slide 27: Outlook for 2017|18: AGRANA Segments
AGRANA SEGMENTS OUTLOOK FOR 2017|18 Sugar segment: in anticipation of stable sales volumes, AGRANA is projecting SUGAR revenue slightly below that of the prior year Revenue Despite a continued challenging market environment in the 4th quarter of the current EBIT FY -> significant increase i
Slide 28: Financial Calendar 2018|19
2018|19 FINANCIAL CALENDAR 8 May 2018 Results for full year 2017|18 (annual results press conference) 26 June 2018 Record date for Annual General Meeting participation 6 July 2018 Annual General Meeting in respect of 2017|18 11 July 2018 Ex-dividend date 12 July 2018 Results for first quarter of 201
Slide 29: 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
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