AGRANA Beteiligungs-AG · VIE:AGR
AGRANA Beteiligungs-AG — Q1 2015|16 Earnings Presentation
29 slides from AGRANA Beteiligungs-AG's earnings presentation, Jul 9, 2015
Slide 1: Results for the first quarter of 2015|16
ZS U C GKAERR ST TA ÄRC KE H FRUC I TH T Der The natürliche natural upgrade Mehrwert AGRANA Beteiligungs-AG Results for the first quarter of 2015|16 Presentation for investors and analysts Vienna, 9 July 2015
Slide 2: Q1 Overview
Q1 OVERVIEW Lasting pressure on prices in the Sugar segment led to significant reduction in EBIT The Starch and Fruit segments remain stabilising pillars of the Group’s operating profitability Leading SUGAR Revenue: € 612.7 million (Q1 of prior year: € 647.2 SUPPLIER million) In Central, Easte
Slide 3: Revenue by Segment
Q1 2015|16 VS PRIOR YEAR REVENUE BY SEGMENT €m Q1 2015|16 647.2 612.7 47.5% 24.1% 284.8 290.8 28.4% Fruit Starch 177.3 Sugar Q1 2014|15 174.1 GROUP 44.0% 28.6% 185.1 147.8 Q1 2014|15 Q1 2015|16 27.4% AGRANA Results for the first quarter of 2015|16 3
Slide 4: EBIT by Segment
Q1 2015|16 VS PRIOR YEAR EBIT BY SEGMENT Q1 2015|16 -6.0% 59.5% €m 46.5% 52.9 Fruit 21.4 31.6 Starch Sugar Q1 2014|15 14.5 18.8 GROUP 40.5% 17.0 14.7 32.1% -1.9 Q1 2014|15 Q1 2015|16 27.4% AGRANA Results for the first quarter of 2015|16 4
Slide 5: Investment Overview
MOST IMPORTANT PROJECTS IN THE GROUP INVESTMENT OVERVIEW Q1 2015|16 €m SUGAR • Expansion of evaporator station in Leopoldsdorf, Austria, is 17.9 on track • In May 2015 the enlarged molasses desugaring plant in Tulln, Austria, successfully began operation 14.9 4.3 • Erection of packaging centre in Ka
Slide 6: Sugar Segment
SEGMENT SUGAR MARKET-FOCUSED 6
Slide 7: Sugar Segment: Financial Results for Q1 2015|16
FINANCIAL RESULTS FOR Q1 2015|16 SUGAR SEGMENT REVENUE REVENUE down to € 147.8 million €m Reasons were a significant drop in sales prices and, to a 185.1 147. lesser extent, a decrease in sales quantities with 8 wholesalers and retailers compared to prior year Volumes of out-of-quota sugar sold
Slide 8: Sugar Segment: Market Environment in Q1 2015|16
MARKET ENVIRONMENT IN Q1 2015|16 SUGAR SEGMENT SUGAR The downward trend on world sugar markets witnessed since June 2014 took the white and raw sugar quotations to lows not seen since 2009 In its latest estimate of the world sugar balance for the 2014|15 SMY, market analysts forecast a slightly
Slide 9: EU Average Prices Quota Sugar
QUOTA SUGAR EU AVERAGE PRICES (JANUARY 2012 TO APRIL 2015; € PER TONNE, EX WORKS) 800 750 738 720 724 726 726 710 715 706 713 713 699 700 688 647 650 627 604 600 574 562 550 536 509 500 449 450 421 414 417 400 Jun.12 Jul.12 Apr.12 Jun.13 Jul.13 Apr.13 Jun.14 Jul.14 Apr.14 Apr.15 Jän.12 Mai.12 Aug.12
Slide 10: Sugar Quotation: Raw Sugar & White Sugar
RAW SUGAR & WHITE SUGAR SUGAR QUOTATION 1 January 2006 – 7 July 2015 (USD) 2015|16 FY White sugar (LIFFE) 7 July 2015: 373.5 USD/t = 338.2 €/t Raw sugar (ICE) 7 July 2015: 271.8 USD/t = 246.1 €/t 1/1/2009 6 years low: Raw sugar, 19/6/15: 245.2 USD/t White sugar, 16/6/15: 344.2 USD/t AGRANA Results f
Slide 11: Starch Segment
SEGMENT STARCH VERSATILE 11
Slide 12: Starch Segment: Financial Results for Q1 2015|16
FINANCIAL RESULTS FOR Q1 201516 STARCH SEGMENT REVENUE REVENUE 1.8% lower than in the prior year €m The average sales prices for the core products matched 177.3 174. the level of the year-earlier quarter, while those for by- 1 products were lower than a year ago Lower sales prices for products p
Slide 13: Starch Segment: Market Environment in Q1 2015|16
MARKET ENVIRONMENT IN Q1 2015|16 STARCH SEGMENT STARCH The size of the market for food starch is steady in terms of sales quantities; generally, there is a sustained trend towards increasing demand and applications for modified specialty starches Isoglucose in particular is showing direct impact
Slide 14: Commodity Prices: Wheat & Corn
WHEAT & CORN (EURONEXT, PARIS) COMMODITY PRICES 1 January 2006 – 7 July 2015 (€) 2015|16 FY Wheat (Paris) 7 July 2015: 200.3 €/t Corn (Paris) 7 July 2015: 187.0 €/t AGRANA Results for the first quarter of 2015|16 14
Slide 15: Development of Ethanol Prices
1 JANUARY 2008 – 6 JULY 2015 (€) DEVELOPMENT OF ETHANOL PRICES Ethanol: 571.0 €/m3 900 Petrol: 481.8 €/m3 800 700 600 € 500 500 400 300 200 100 0 2008-01-01 2009-01-01 2010-01-01 2011-01-01 2012-01-01 2013-01-01 2014-01-01 2015-01-01 Average daily ethanol price in EUR/m³ (Ethanol T2 FOB Rdam EUR/cm
Slide 16: Fruit Segment
SEGMENT FRUIT QUALITY-DRIVEN 16
Slide 17: Fruit Segment: Financial Results for Q1 2015|16
FINANCIAL RESULTS FOR Q1 2015|16 FRUIT SEGMENT REVENUE REVENUE up to € 290.8 million €m Fruit preparations: Sales volume was up slightly from one year earlier Particularly higher sales prices and favourable currency translation 284.8 290.8 effects from consolidation (US$ and AU$) brought reven
Slide 18: Fruit Segment: Market Environment in Q1 2015|16
MARKET ENVIRONMENT IN Q1 2015|16 FRUIT SEGMENT FRUIT For fruit preparations there is an ongoing mild decrease in demand in the EU, and slight growth in the non- European markets. Macroeconomic and political problems are, however, slowing market development in growth regions of Eastern Europe (Ru
Slide 19: Consolidated Financial Statements
Q1 2015|16 CONSOLIDATED FINANCIAL STATEMENTS 19
Slide 20: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT €m (condensed) Q1 Q1 2015|16 2014|15 Var. % Revenue 612.7 647.2 -5.3 EBITDA2 43.2 63.5 -32.0 Operating profit before except. items and results of equity-accounted JV 26.0 46.5 -44.1 Share of results of equity-accounted JV 5.8 6.4 -9.4 Exceptional items (0.2) 0.0 n/a EBI
Slide 21: Analysis of Net Financial Items
ANALYSIS OF NET FINANCIAL ITEMS €m Q1 Q1 2015|16 2014|15 Net interest (expense) (2.6) (4.2) Currency translation differences (0.2) 3.1 Other financial items 1.1 (1.6) Total (1.7) (2.7) AGRANA Results for the first quarter of 2015|16 21
Slide 22: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT Q1 Q1 €m (condensed) 2015|16 2014|15 Operating cash flow before changes in working 49.8 53.0 capital Losses/(gains) on disposal of non-current 0.4 (0.3) assets Changes in working capital (118.1) (66.7) Net cash from operating activities (67.9) (14.0) Net cash (used i
Slide 23: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET €m (condensed) 31 May 2015 28 Feb. 2015 Non-current assets 1,111.2 1,136.6 Current assets 1,221.0 1,270.3 Total assets 2,332.2 2,406.9 Equity 1,223.6 1,194.4 Non-current liabilities 417.7 418.1 Current liabilities 690.9 794.4 Total equity and liabilities 2,332.2 2,406.9 Eq
Slide 24: A Quick Look Back to Our Annual General Meeting 2015
A QUICK LOOK BACK TO OUR ANNUAL GENERAL MEETING 2015 Dividend for 2014|15: € 3.60 per share AGRANA proved again to be committed to a predictable, reliable and transparent dividend policy designed for continuity The Annual General Meeting authorised the Management Board, with the approval of th
Slide 25: Outlook 2015|16
2015|16 OUTLOOK 25
Slide 26: Outlook for 2015|16: AGRANA Segments
AGRANA SEGMENTS OUTLOOK FOR 2015|16 AGRANA expects a further significant decline in revenue as a result of the general SUGAR persistent strong downward pressure on prices Revenue Reduced beet costs and a cost-saving programme already begun in the 2014|15 financial EBIT year in all countrie
Slide 27: Outlook for 2015|16: AGRANA Group
AGRANA GROUP OUTLOOK FOR 2015|16 AGRANA Group Revenue 2015|16 EBIT 2015|16 AGRANA currently expects Group revenue to remain steady in the 2015|16 financial year For EBIT, the Group is projecting a significant decrease In 2015|16 the AGRANA Group’s total investment of about € 93 million fo
Slide 28: Financial Calendar
2015|16 FINANCIAL CALENDAR Results for the first half of 2015|16 8 October 2015 13 January 2016 Results for the first three quarters of 2015|16 AGRANA Results for the first quarter of 2015|16 28
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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