Slide 1: H1 FY21 Presentation
H1 FY21 Presentation Gavin Xing, Chief Executive Officer For personal use only We efficiently connect primary producers to the global market through our protein supply chain platform Zane Banson, Chief Financial Officer December 2020 “Wingara is positioned for a strong second half” Unlocking value i
Slide 2: H1 FY21 performance has laid the foundations for H2 FY21
H1 FY21 performance has laid the foundations for H2 FY21 For personal use only ($m unless otherwise stated) H1 FY21 H1 FY20 Change • Revenue up 22.3% to $18.3m, in line with growth in cash Revenue 18.3 15.0 22.3% receipts Reported EBITDA 2.7 1.3 102.4% Reported EBIT 1.2 2.5 (53.3)% • JC Tanloden pro
Slide 3: Driving growth amid COVID-19
Driving growth amid COVID-19 For personal use only • H1 FY21 customer receipts were up 22.3% to $18.3m • Growing cash receipts used for debt reduction and investment in restocking inventory to maintain revenue growth • Disciplined investment approach from management delivered a solid infrastructure
Slide 4: Enabling Australian agricultural products to reach end markets
Enabling Australian agricultural products to reach end markets WNR’s business model: For personal use only • • Owns and manages critical export infrastructure assets within the protein supply chain • Tolling revenue model based on throughput • Capitalise on our global trading network Business Model:
Slide 5: Revenue: up 22% to $18.3m… on track for $40m pa
Revenue: up 22% to $18.3m… on track for $40m pa For personal use only • Revenue was up 22% to $18.3m, reflecting a strong performance SEQUENTIAL HY REVENUES by JC Tanloden with production Revenues Consolidated Linear (Consolidated) output growing 50%, offsetting $20 Millions $18.3 reduced Austco Pol
Slide 6: JC Tanloden: production up 50%
JC Tanloden: production up 50% H1 FY21 production was up 50% (on H1 For personal use only • FY20) at 25,974 MT • Overall export demand is solid, with key Asian economies recovering following re- opening post COVID-19 20,000 • Inventory has increased 734% in H1 FY21, to 20,290 MT (compared to 2,434 M
Slide 7: Austco Polar: performed strongly in light of challenging conditions
Austco Polar: performed strongly in light of challenging conditions For personal use only • Despite a fall in overall volumes over H1 FY21 (compared to H1 FY20), Austco Polar has performed strongly in light of significant challenges from the 800,000 economic environment 700,000 • Austco Polar blast
Slide 8: Underlying EBIT: $2.9m turnaround
Underlying EBIT: $2.9m turnaround For personal use only • Excluding the gain on the sale and leaseback of Austco Polar’s property SEQUENTIAL UNDERLYING EBIT in H1 FY20, underlying EBIT grew H1 FY18 H1 FY19 H1 FY20 H1 FY21 from a loss of $1.7m in H1 FY20 to a $2.5 Millions profit of $1.2m in H1 FY21
Slide 9: Balance sheet: successful $5m placement supports growth
Balance sheet: successful $5m placement supports growth Consolidated Balance Sheet ($m) As at Sep 20 As at Mar 20 For personal use only • Total Assets have risen over the Cash 0.47 2.2 half year by $0.62m Deposits and other current assets 0.85 0.54 Inventories 5.2 4.1 Trade receivables 2.9 2.7 • Tot
Slide 10: Q2 cashflow reflects strategic inventory build-up to support future sales
Q2 cashflow reflects strategic inventory build-up to support future sales Cash receipts up 22% to Consolidated statement of cash flows ($’000) Apr - Jun 2019 Jul - Sep 2019 H1 FY20 Apr - Jun 2020 Jul - Sep 2020 H1 FY21 For personal use only • 1 Cash flows from operating activities $19.15m (vs H1 FY2
Slide 11: Positive outlook for H2 FY21
Positive outlook for H2 FY21 For personal use only Wingara AG • Wingara is well placed to meet demand, scale its operations, and further improve returns going forward JC Tanloden • Prepared for the 2020/21 harvest season • Expect an overall improvement in capacity utilisation rate • WNR’s commercial
Slide 12: Appendix
For personal use only Appendix
Slide 13: A diversified agricultural products platform
A diversified agricultural products platform For personal use only WNR has built a sustainable platform for processing and marketing agricultural products – more products can be added at the appropriate time 1 2 3 For Primary For Customers Producers Process raw Logistics to move Provide insights Con
Slide 14: JC Tanloden – services and key markets
JC Tanloden – services and key markets For personal use only • Original business was one of the first fodder exporters from Victoria, with a 30-year history • We purchase, process and transport our high quality produce to our domestic and global customers • Revenue is generated via a tolling model w
Slide 15: WNR's markets
WNR’s markets For personal use only JC Tanloden and Austco Polar form key parts of the Australian agriculture industry’s supply chain and export capabilities for protein and fodder products – both which have grown significantly over the past 5 years Australian Protein Exports • Export markets for pr
Slide 16: Austco Polar – services and key markets
Austco Polar – services and key markets For personal use only Established in 1987, Austco Polar Cold Storage owns and operates a cold storage facility which specialises in temperature-controlled facilities, blast freezing, storage and distribution for domestic and international clients. Key clients
Slide 17: Protein Market Update
Protein Market Update For personal use only • Domestic consumption of red meats, particularly lamb and mutton, has been on a downward trend in recent years. • The share of red meat production destined for export has risen as a result • Given a greater reliance on exports, the meat industry has seen
Slide 18: Rainfall Report
Rainfall Report For personal use only • Higher-than-expected rainfall prior to harvest has proved challenging for many growers across VIC and SA. • Reports of weather-damaged hay have been received in some key areas. • Quality hay is expected to come at a higher premium than anticipated • Equally, e
Slide 19: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Wingara for professional investors. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The info
Slide 20: For personal use only
For personal use only We connect primary producers to the global market efficiently through our protein supply chain. wingaraag.com.au