Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — Q1 2015 Earnings Presentation
21 slides from Golden Agri-resources's earnings presentation, May 12, 2015
Slide 1: Interim Performance Presentation YTD Mar 2015
Golden Agri-Resources Ltd Interim Performance Presentation YTD Mar 2015 : three-month period ended 31st March 2015 12 May 2015
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Golden Agri-Resources Ltd. (“GAR” or “Company”) for informational purposes, and may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are b
Slide 3: Contents
Contents 1 Executive Summary 4 2 Financial Highlights 6 3 Segmental Performance 9 4 Strategy and Outlook 15 5 Appendix 19 slide 3
Slide 4: Executive Summary
Executive Summary 5) gar agribusiness and food
Slide 5: Executive Summary
Executive Summary 1Q 2015 core net profit grew 13% quarter-on-quarter on the back of improving downstream operations EBITDA (US$ million) 195 1Q 2015 vs 4Q 2014 results 172 145 Revenue US$1,553 mn 15% 120 101 EBITDA US$126 mn 6% 95 Core Net Profit1 US$52 mn 13% Palm product output 634,000 MT 12% 45
Slide 6: Financial Highlights
Financial Highlights slide 6
Slide 7: Consolidated Financial Performance
Consolidated Financial Performance US$ million 1Q 2015 4Q 2014 QoQ 1Q 2014 YoY Revenue 1,553 1,822 -15% 1,914 -19% Gross Profit 237 298 -21% 390 -39% EBITDA 126 135 -6% 200 -37% Core Net Profit1 52 46 13% 101 -48% Addition: Net loss from changes in fair value of biological assets, net of tax and n
Slide 8: Financial Position
Financial Position Strong balance sheet fundamentals with ample liquidity and prudent gearing (in US$ million) 31-Mar-15 31-Dec-14 Change Total Assets 14,634 14,667 -0.2% Fixed Assets1 10,514 10,455 0.6% Total Liabilities 5,819 5,848 -0.5% Adjusted Net Debt2 1,712 1,626 5.3% Net Debt3 2,556 2,478 3.
Slide 9: Segmental Performance
Segmental Performance slide 9
Slide 10: Segmental Results – Plantations and Palm Oil Mills
Segmental Results – Plantations and Palm Oil Mills Production impacted by dry weather conditions experienced in certain regions of Indonesia in 2014 1Q 2015 4Q 2014 QoQ 1Q 2014 YoY Revenue (US$ million) 341 458 -25% 501 -32% EBITDA (US$ million) 101 120 -16% 172 -41% EBITDA margin 30% 26% 4% 34% -4%
Slide 11: Plantation Area
Plantation Area GAR’s oil palm plantations continue to be leading in scale and operational excellence Mature Area - ha Planted Area - ha Age Profile as of 31 Mar 2015 464,121 484,937 472,837 6% 4% 440,578 101,035 10% 97,390 100,886 27,117 95,799 20,816 49,024 366,731 383,902 371,951 36% 344,779 173,
Slide 12: Segmental Results – Palm and Lauric
Segmental Results – Palm and Lauric Improved downstream operations resulting in higher EBITDA despite weaker CPO prices 1Q 2015 4Q 2014 QoQ 1Q 2014 YoY Revenue (US$ million) 1,401 1,562 -10% 1,636 -14% Sales Volume (‘000 tonnes) 2,033 2,144 -5% 1,971 3% EBITDA (US$ million) 22 10 116% 30 -27% EBITDA
Slide 13: Strengthening Position Across the Downstream Value Chain
Strengthening Position Across the Downstream Value Chain Sourcing of Product Sales and raw materials Processing customisation distribution • Over 2 million • A new kernel crushing • Sales of palm • Destination sales tonnes of palm plant is in operation based refined contribute 63% to our based produ
Slide 14: Segmental Results – Oilseeds and Others
Segmental Results – Oilseeds and Others Positive contribution from oilseed segment due to improved business environment 1Q 2015 4Q 2014 QoQ 1Q 2014 YoY Oilseeds Revenue (US$ million) 134 176 -23% 211 -36% Sales Volume (‘000 tonnes) 250 323 -23% 312 -20% EBITDA (US$ million) 2 1 54% -3 n.m. EBITDA ma
Slide 15: Strategy and Outlook
Strategy and Outlook slide 15
Slide 16: Strategic Priorities
Strategic Priorities Build on core competitive strengths and leverage scale to maximize long- term shareholder returns Objective: Sustained Growth and Profitability Upstream Downstream Optimise Grow Shift product To stay Sustain cost destination leadership value mix to higher focused as a throughout
Slide 17: Holistic Approach to Sustainability
Holistic Approach to Sustainability Certification received as at 30 April 2015 • RSPO: 241,155 ha of plantations including smallholder plantations of 50,886 ha, 24 mills, 3 kernel crushing plants, 4 refineries, 1 bulking station and 1 oleochemical plant • ISCC: 283,783 ha of plantations including sm
Slide 18: Growth Strategy and Outlook
Growth Strategy and Outlook Capitalising on the robust fundamentals of the industry, GAR continues to enhance its integrated operation capabilities to capture profit opportunities across the value chain Upstream • Expanding palm oil plantations through organic growth and acquisition • Exploring new
Slide 19: Appendix
Appendix slide 19
Slide 20: Age Profile
Age Profile The average age of GAR’s plantations is 15 years, securing the long-term growth of its production Immature Young Prime 1 Prime 2 Old Total (in hectares) (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) 31 March 2015 Nucleus 17,171 39,846 180,190 123,108 23,587 383,902 Plasm
Slide 21: Contact Us
Contact Us If you need further information, please contact: Golden Agri-Resources Ltd c/o 108 Pasir Panjang Road #06-00 Golden Agri Plaza Singapore 118535 Telephone : +65 65900800 Facsimile : +65 65900887 www.goldenagri.com.sg Contact Person : Richard Fung richard@goldenagri.com.sg slide 21
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