Nufarm Limited · ASX:NUF
Nufarm — H1 2003 Earnings Presentation
12 slides from Nufarm's earnings presentation, March 2003
Slide 1: Interim Results
Interim Results 6 months to January 31, 2003 Doug Rathbone Managing Director
Slide 2: Headline Results
Headline Results 1H 2003 1H 2002 $m $m Operating profit (loss) (3.99) 5.56 Group Sales 509.6 556.2 Crop Protection Sales 375.1 373.8 Segment profit* 16.4 24.8 Chemicals Sales 133.4 181.8 Segment profit* 8.0 15.6 * Earnings before interest, tax, head office management charges Group sales are down com
Slide 3: Interim results comparison
Interim results comparison 1H 2002 - $5.6m 1H 2003 - ($3.9m) Crop protection - Drought impact in Australia - Timing/margins re European methyls - Captec sales "(The drought) has pushed the national sheep flock down to a 53 year low" Meat & Livestock Australia (February, 2003) Chemicals - Sale of
Slide 4: Change in business mix
Change in business mix 6 months to January 31 2002 2003 67% 33% 74% 26% 12 months to July 31 2002 2003* 73% 27% 85% 15% *Forecast Crop Protection Chemicals
Slide 5: Seasonality of earnings - 2002
Seasonality of earnings - 2002 Quarterly analysis Key Planting Period Group Sales Gross Margin Total Expenses Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr We walked you through this illustration in previous briefings. This is last year’s data. - Planting/cropping p
Slide 6: Seasonality of earnings - 2003
Seasonality of earnings - 2003 Quarterly analysis Key Planting Period Group Sales Gross Margin Total Expenses Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Moving to 2003…..this graph includes actual data for the first half and forecast data for the final six months
Slide 7: Seasonality of earnings - 2003 (cumulative)
Seasonality of earnings - 2003 Quarterly analysis - cumulative costs margins Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr This illustrates the impact of the seasonality of sales on a cumulative basis.
Slide 8: Key events
Key events Acquisition of Acquisition of proprietary herbicide Germany Belgium Sale of Fernz chemical trading Crop Care integration progressing on target….very pleased with progress. Product acquisition (Ralon/Puma) from Bayer is IDEAL for Nufarm…guarantees us access to distribution and we hav
Slide 9: Drought impact in Australia; Global crop protection business
Drought impact in Australia Sales: down on 2002 14% (like for like) down on budget 36% Strong signs of 'recovery' ‘‘Assuming an easing of the current severe drought across the country, Australian grains production is forecast to stage a strong recovery in 2003-04. The swing into crops relative t
Slide 10: Outlook for full year
Outlook for full year Turnaround in Australia Growth elsewhere Chemicals neutral Growth on 2002 full year profit Full year outlook…….. - Already seeing a very strong rebound in the position in Australia…… - Other markets looking very positive (NZ, Asia, North America, South America, Europe – b
Slide 11: Clear Strategy
Clear Strategy Product portfolio expansion Build position in global crop Geographic expansion protection industry Improved efficiencies Nufarm's position Combination of strength and growth opportunities Globally No. 1 in Strong and Increasing Additional ranked in Australia and expanding presence in
Slide 12: Brand strength
Brand strength — _—— DN BRwerdale A Nufarm Company == youndup Power (hi hes BALORUL. —