Nufarm Limited · ASX:NUF
Nufarm — 2 months ended 30 September 2020 Earnings Presentation
14 slides from Nufarm's earnings presentation, Nov 19, 2020
Slide 1: Financial results for 2 months ended 30 September 2020
Financial results for 2 months ended 30 September 2020 19 November 2020
Slide 2: Disclaimer
Disclaimer General This presentation has been prepared by Nufarm Limited. The information contained in this presentation is for informational purposes only as at the date of this presentation.. The information contained in this presentation is not investment or financial product advice and is not in
Slide 3: Overview
Overview Two months ended 30 September 2020 Crop protection revenue growth and EBITDA improvement in all regions ‒ note that August and September are typically a period of weak demand and negative earnings contribution Strong balance sheet and liquidity Continued progress toward net working capital
Slide 4: Change of financial year end
Change of financial year end Align half yearly reporting cycle with key sales and earnings periods Indicative EBITDA profile based on average seasonal conditions • Nufarm earnings have historically been weighted to second half and this is more pronounced following sale of South American crop protect
Slide 5: Earnings summary
Earnings summary Two months ended 30 September 2020 Summary financial results Proforma Change (continuing operations unless specified) 2 months ended 2 months ended 12 months ended 30 Sep 2020 vs 30 Sep 2020 30 Sep 2019 31 Jul 2020 30 Sep 2019 $000 $000 $000 % Revenue 267,320 181,195 2,847,375 47.5
Slide 6: Group earnings overview
Group earnings overview Two months ended 30 September 2020 Revenue Gross Profit EBITDA EBIT (AUD$m) (AUD$m) (AUD$m) (AUD$m) 30 Sep 19 30 Sep 20 30 Sep 19 30 Sep 20 45 Up 9% 40 Up 23% 37 222 181 (43) Up 18% (53) (79) (86) 30 Sep 19 30 Sep 20 30 Sep 19 30 Sep 20 Up 9% Revenue from operations Corporate
Slide 7: Regional earnings overview
Regional earnings overview Two months ended 30 September 2020 Europe APAC (AUD$m) (AUD$m) 30 Sep 19 30 Sep 20 30 Sep 19 30 Sep 20 Up 38% 1 92 Up 38% Up 48 111% 67 35 (19) (22) (6) Up 13% 30 Sep 19 30 Sep 20 30 Sep 19 30 Sep 20 Revenue uEBITDA Revenue uEBITDA • Revenues in Europe for August and Septe
Slide 8: Regional earnings overview
Regional earnings overview Two months ended 30 September 2020 North America Seed Technology (AUD$m) (AUD$m) Up 4% 30 Sep 19 30 Sep 20 30 Sep 19 30 Sep 20 (3) 74 (5) 71 (6) Down Down 78% 9% (11) Up 42% 8 7 30 Sep 19 30 Sep 20 30 Sep 19 30 Sep 20 Revenue uEBITDA Revenue uEBITDA • Revenue up in crop pr
Slide 9: Group financial position
Group financial position Two months ended 30 September 2020 Net working capital Average net working capital / sales Net Debt and liquidity (AUD$m) (AUD$m) Down 11% 1,179 648 47% 1,045 46% 45% 40% 144 37% 132 462 424 Target range 309 35-40% 2H20 Sep-20 Sep-20 Sep-19 proforma Sep-20 FY17 FY18 FY19 FY2
Slide 10: October 2020 trading
October 2020 trading Momentum has continued • Positive momentum has continued with year on year revenue growth in all crop protection regions and Seed Technologies in October 2020 • ANWC/sales continued to improve in October • Performance improvement program on track • Further update to be provided
Slide 11: Appendix
Appendix
Slide 12: Prior year comparatives for September year end: Proforma revenue
Prior year comparatives for September year end Proforma revenue Sep-20 Sep-20 Mar-20 Sep-19 Sep-19 Mar-19 ($000s) 12 m onths 6 m onths 6 m onths 12 m onths 6 m onths 6 m onths Crop protection Australia and New Zealand 582,113 320,369 261,744 451,116 219,899 231,217 Asia 172,185 85,604 86,581 179,232
Slide 13: Prior year comparatives for September year end: Proforma underlying EBITDA
Prior year comparatives for September year end Proforma underlying EBITDA Sep-20 Sep-20 Mar-20 Sep-19 Sep-19 Mar-19 ($000s) 12 m onths 6 m onths 6 m onths 12 m onths 6 m onths 6 m onths Post leases Post leases AASB 16 Pre leases Post leases AASB 16 Pre leases No lease adj Crop protection Australia a
Slide 14: Prior year comparatives for September year end: Proforma underlying EBIT
Prior year comparatives for September year end Proforma underlying EBIT Sep-20 Sep-20 Mar-20 Sep-19 Sep-19 Mar-19 ($000s) 12 m onths 6 m onths 6 m onths 12 m onths 6 m onths 6 m onths Post leases Post leases AASB 16 Pre leases Post leases AASB 16 Pre leases No lease adj Crop protection Australia and
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