Agrana Beteiligungs-ag · VIE:AGR
Agrana Beteiligungs-ag — Q1 2013|14 Earnings Presentation
28 slides from Agrana Beteiligungs-ag's earnings presentation, Jul 11, 2013
Slide 1: Results for the first quarter of 2013|14
AGRANA Beteiligungs-AG Results for the first quarter of 2013|14 1 March – 31 May 2013 Vienna, 11 July 2013 Results for the first quarter of 2013|14, 11 July 2013
Slide 2: Highlights of Q1 2013|14 results
Highlights of Q1 2013|14 results “Building on the high level of the prior year, AGRANA started into its anniversary year with further growth in revenue. At the same time, as expected, the high commodity prices are weighing on our profitability.” • Revenue: € 851.6 million (Q1 2012|13: € 774.6 millio
Slide 3: Revenue by segment
Revenue by segment Q1 2013|14 €m 851.6 Q1 2013|14 +9.9% 774.6 38.2% 35.9% +18.2% 325.6 275.4 25.9% 192.4 +14.5% 220.3 Q1 2012|13 -0.4% 306.8 305.7 35.6% 39.6% 24.8% Q1 2012|13 Q1 2013|14 Sugar Starch Fruit 3 | Results for the first quarter of 2013|14, 11 July 2013
Slide 4: Operating profit by segment
Operating profit by segment Q1 2013|14 €m Q1 2013|14 70.9 39.0% 34.2% 6.9% -12.7% 61.9 7.4% 12.3 26.8% +95,9% 24.0 24.1 7.5% -30.8% 16.6 Q1 2012|13 34.6 -39.0% 4.5% 21.1 17.3% 48.8% Q1 2012|13 Q1 2013|14 33.9% 11.3% Sugar Starch Fruit 12.5% Operating Margin 4 | Results for the first quarter of 2013|
Slide 5: CAPEX Focus
CAPEX Focus Q1 2013|14 Sugar Starch Fruit • Main project this year is the construction of the new fruit preparations plant in the US state of New York --- Depreciation • In Ukraine an additional line was installed for fruit preparations €m • Investments in the planned harmonisation of the IT and ERP
Slide 6: Biorefinery Pischelsdorf|Austria
Biorefinery Pischelsdorf|Austria Wheat starch plant opened on 12 June 2013 Wheat starch (new) Bioethanol ActiProt High-purity liquid CO2 6 | Results for the first quarter of 2013|14, 11 July 2013
Slide 7: New wheat starch facility
New wheat starch facility Quick reminder regarding facts & figures • Construction site: approx. 4 hectares; adjacent to the Bioethanol plant (area of 10 hectares) • Investment: approx. € 70 m (total investment at Pischelsdorf site: > € 200 m) • Raw material processed: approx. 250,000 tonnes of wheat
Slide 8: Key drivers for the segments
Key drivers for the segments Q1 2013|14 • 2nd estimate for 2012|13 SMY: world sugar supply exceeds demand, increasing world sugar stocks -> attributed largely to production growth in Brazil, Thailand, India and Mexico SUGAR • European Commission again took exceptional measures to keep the market bal
Slide 9: SUGAR
SUGAR 9 | Results for the first quarter of 2013|14, 11 July 2013
Slide 10: SUGAR Segment: Highlights Q1 13|14
SUGAR Segment: Highlights Q1 13|14 Revenue Revenue stable at € 305.7 million €m 306.8 305.7 -0.4% • As expected, the Sugar segment had a less vigorous start to the 2013|14 financial year, lagging behind the sales volumes of Q1 2012|13 • However, revenue in the first quarter nearly reached the last y
Slide 11: Quotation for raw sugar & white sugar
Quotation For raw sugar & white sugar January 2006 – July 2013 (USD) 12|13 FY White sugar (LSE) 9 July 2013: 495.2 USD/to = 385.6 EUR/to Raw sugar (NYSE) 10 July 2013: 358.5 USD/to = 279.1 EUR/to 11 | Results for the first quarter of 2013|14, 11 July 2013
Slide 12: Future of the EU sugar regime
Future of the EU sugar regime • The EU institutions (EU commission, parliament and EU council of agricultural ministers) have agreed on an unchanged extension until 2017. Furthermore, the Hungarian isoglucose quota was raised by 30,000 tonnes as a result of Croatia's EU accession. The EU parliament
Slide 13: STARCH
STARCH 13 | Results for the first quarter of 2013|14, 11 July 2013
Slide 14: STARCH Segment: Highlights Q1 13|14
STARCH Segment: Highlights Q1 13|14 Revenue €m +14,5% Revenue with increase at € 220.3 million 220.3 • Increase was driven in large part by higher selling prices 192.4 and volumes for by-products • Also, greater sales volumes of core products, especially bioethanol and saccharification products • Sa
Slide 15: Price development of cereals
Price development of cereals Wheat & corn (Paris) January 2009 – July 2013 (EUR) 12|13 FY CORN Quotation (Paris) 9 July 2013: 219.5 EUR/to WHEAT Quotation (Paris) 9 July 2013: 196.8 EUR/to 15 | Results for the first quarter of 2013|14, 11 July 2013
Slide 16: FRUIT
FRUIT 16 | Results for the first quarter of 2013|14, 11 July 2013
Slide 17: FRUIT Segment: Highlights Q1 13|14
FRUIT Segment: Highlights Q1 13|14 Revenue +18,2% Revenue rose to € 325.6 million €m 325.6 • Significant expansion of market shares in all regions, sales 275.4 quantities of fruit preparations grew by 10% • Slight volume growth was even achieved in the shrinking EU market • Revenue growth in fruit j
Slide 18: Consolidated Financial Statements
CONSOLIDATED FINANCIAL STATEMENTS Q1 2013|14 18 | Results for the first quarter of 2013|14, 11 July 2013
Slide 19: Consolidated income statement
Consolidated income statement €m (condensed) Q1 Q1 2013|14 2012|13 Revenue 851.6 774.6 Operating profit before exceptional items 61.9 70.9 Exceptional items 0.0 0.0 Operating profit after exceptional items 61.9 70.9 Net financial items (7.9) (9.7) Profit before tax 54.0 61.3 Income tax (expense) (14
Slide 20: Analysis of net financial items
Analysis of net financial items €m Q1 Q1 2013|14 2012|13 Net interest (expense) (3.9) (7.7) Currency translation differences (2.7) (1.7) Other financial items (1.7) (0.3) Total of net financial items (7.9) (9.7) 20 | Results for the first quarter of 2013|14, 11 July 2013
Slide 21: Consolidated balance sheet
Consolidated balance sheet €m (condensed) 31 May 28 February 2013 2013 Non-current assets 1,101.9 1,097.8 Current assets 1,482.2 1,480.4 Equity 1,246.0 1,212.1 Non-current liabilities 492.3 519.1 Current liabilities 845.8 847.0 Total assets 2,584.1 2,578.2 Equity ratio 48.2 % 47.0 % Net debt 536.8 4
Slide 22: Consolidated cash flow statement
Consolidated cash flow statement €m (condensed) Q1 2013|14 Q1 2012|13 Operating cash flow before change in working capital 58.7 71.9 (Gains) on disposal of non-current assets (0.1) (0.6) Change in working capital (84.9) (50.9) Net cash from operating activities (26.4) 20.4 Net cash (used in) investi
Slide 23: OUTLOOK
Sugar. Starch. Fruit. OUTLOOK 23 | Results for the first quarter of 2013|14, 11 July 2013
Slide 24: Segment outlook 2013|14 FY
Segment outlook 2013|14 FY • Further margin pressure through (raw-material-cost-driven) high value of inventories from the prior year's campaign SUGAR • For the full year, AGRANA believes the Sugar segment will have stable revenue Segment • And – as a result of lower world market prices and (certain
Slide 25: Outlook AGRANA Group 2013|14 FY
Outlook AGRANA Group 2013|14 FY • For the 2013|14 financial year, AGRANA continues to expect a slight increase in Group revenue, driven primarily by volume growth • AGRANA confirms the expectation that operating profit before exceptional items will be less than in the very good last two financial ye
Slide 26: Financial calendar for 2013|14
Financial calendar for 2013|14 10 October 2013 Results for first half of 2013|14 13 January 2014 Results for first three quarters of 2013|14 26 | Results for the first quarter of 2013|14, 11 July 2013
Slide 27: Thank you for your attention
Sugar. Starch. Fruit. THANK YOU FOR YOUR ATTENTION 27 | Results for the first quarter of 2013|14, 11 July 2013
Slide 28: 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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