Elders Limited · ASX:ELD
Elders — FY2013 Earnings Presentation
13 slides from Elders's earnings presentation, Nov 18, 2013
Slide 1: 2013 Financial Results Discussion and Analysis
18 November 2013 2013 Financial Results Discussion and Analysis Attached is the discussion and analysis of the financial results for the 12 month period ended 30 September 2013. Peter Hastings Company Secretary 1
Slide 2: FY 2013 Financial Results Discussion & Analysis
& Se FY 2013 FINANCIAL RESULTS DISCUSSION & ANALYSIS Results for the 12 months ended 30 September 2013
Slide 3: Abbreviations & Definitions
18 November 2013 Abbreviations & Definitions 2013 Financial Results 2012 and FY12: 12 months ended 30 September 2012 Discussion and Analysis 2013 and FY13: 12 months ended 30 September 2013 F13 H1 and F12 H1: first half year: i.e. six months to 31 March of 2013 or 2012 F13 H2 and F12 H2: second half
Slide 4: Reconciliation of Statutory and Underlying Profit
Reconciliation of Statutory and Underlying Profit Items excluded from statutory profit to determine underlying profit for the 12 months The statutory loss after tax attributable to owners of the parent (shareholders) of ended 30 September 2013 comprise: $(505.2m) for the 12 months ended 30 September
Slide 5: Reported and Underlying Profit measures; Movement in Underlying Profit Before Tax
Reported and Underlying Profit measures Movement in Underlying Profit Before Tax Profit: Reported and Underlying Profit Movement Analysis $m 12 months ended 30 Septemb er: F13 F12 F/(UF) $m 12 months ended 30 Septemb er: Underlying EBIT (42.0) 8.2 (612%) F12 Underlying profit/(loss) before tax (4.9)
Slide 6: Key Profit and Loss Items
Key profit and loss items for the year include: Key Profit and Loss Items Continuing sales revenue of $1,657.1m was down 9% or $(156.1m), with Key Profit & Loss items $(10.5m) relating to operations wound down in F12 (wool indent) and $(145.6m) relating to ongoing Rural Services operations: $m 12
Slide 7: Cash Flow
Cash Flow Operating cash flow Cash Flow Positive cash generation from Rural Services and Automotive in F13 were more than offset by cash outflow from Corporate and Forestry. $m 12 months ended 30 Septemb er: F13 F12 F/(UF) Operating cash flow (81.5) 2.5 (84.0) Rural Services and Corporate generated
Slide 8: Balance Sheet and Finance
Assets and liabilities Balance Sheet and Finance Significant movements during the 12 months to 30 September 2013 include: Balance Sheet: key items A reduction to working capital by $120.9m: $m as at end: Sep 13 Mar 13 Sep 12 Sale of Automotive, which held $38.4m working capital at 30 September 201
Slide 9: Review of Operations: Rural Services
Review of Operations Rural Services Rural Services Underlying EBIT declined due to challenging seasonal and market conditions impacting the agribusiness sector, especially in F13 1H. The principal factors $m 12 months ended 30 Septemb er: F13 F12 F/(UF) contributing to the change in underlying earni
Slide 10: Australian Network
Australian Network Sales Revenue and Margin: Extreme temperatures were recorded Australia-wide in the first half-year and specifically in Eastern Australia in the second half, with the Australian Network second warmest spring and hottest summer on record. These high temperatures, coupled with below
Slide 11: New Zealand Network
New Zealand Network Underlying EBIT was $2.2m higher despite the majority of the North Island and much New Zealand Network of the South Island experiencing an extensive drought in the first half of F13. $m 12 months ended 30 Septemb er: F13 F12 F/(UF) Sales Revenue and Margin: Lower sales occurred a
Slide 12: International Trading
International Trading Trading Underlying EBIT decreased $(34.6m) due to impact of the International Trading $m 12 months ended 30 Septemb er: F13 F12 F/(UF) balance sheet adjustment $(24.2m), lower global cattle trading margins and increased costs, partly offset by improved profitability from domest
Slide 13: Corporate (Investment and Other)
Corporate (Investment and Other) Corporate Results $m 12 months ended 30 Septemb er: F13 F12 F/(UF) Costs (5.7) (10.0) 43% Underlying EBIT (5.7) (10.0) 43% Items excluded from underlying EBIT (18.5) (21.1) 12% Reported EBIT (24.2) (31.1) 22% Operating cash flows (42.8) 12.5 (442%) Corporate represen