Kernel Holding S.a. · GPW:KER
Kernel — Q2 FY2011 Earnings Presentation
10 slides from Kernel's earnings presentation, 2011
Slide 1: Financial Presentation FY2011
~ FINANCIAL PRESENTATION | FY2011° I
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, and no re- liance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of
Slide 3: Financial Highlights
Financial Highlights(1) Amounts in USD millions, except for EPS and ratios Q2 FY2010 Q2 FY2011 % change Revenue 272.3 566.4 108.0% Result from operating activities (EBIT) 51.2 62.6 22.3% Net profit (2) 43.3 49.4 14.1% EBITDA (3) EPS (4) 0.63 0.67 6.4% Net Debt / EBITDA (5) 1.8x 2.3 x EBITDA / Intere
Slide 4: Key drivers
Key drivers Key market factors • trong international demand in oil and grain markets drives prices 50% higher S year-on-year • kraine government endeavors to rein in inflation and exerts pressure on oil U producers Kernel company developments • ernel concludes bulk oil export contracts and locks in
Slide 5: Income Statement Highlights
Income Statement Highlights(1) Amounts in USD millions, except for EPS and margins Q2 FY2010 Q2 FY2011 % change Revenue 272.3 566.4 108.0% Result from operating activities (EBIT) 51.2 62.6 22.3% Net profit (2) 43.3 49.4 14.1% EBITDA (3) 56.1 70.3 25.5% EPS (4) 0.63 0.67 6.4% Gross margin 34.6% 19.2%
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights (1) Amounts in USD millions 31 December 2009 30 September 2010 31 December 2010 Invested Capital Cash & cash equivalent 50.3 44.5 21.6 Net trade accounts receivable 58.6 53.8 128.1 Inventory 268.4 373.0 556.2 Of which: Readily Marketable Inventories (2) 265.2 367.2 548.1 Oth
Slide 7: Cash Flow Highlights
Cash Flow Highlights(1) Amounts in USD millions 31 December 2009 31 December 2010 Operating profit before working capital changes 54.8 66.8 Changes in working capital (75.3) (286.5) Cash obtained from / (used in) operations (20.5) (219.7) Finance costs paid (5.8) (12.2) Income tax paid (0.3) (0.4) N
Slide 8: Segmental Results
Segmental Results Revenue(1), USD million Operating profit(2), USD million Operating margin, % Tonnage(3) Q2 FY10 Q2 FY11 % change Q2 FY10 Q2 FY11 % change Q2 FY10 Q2 FY11 Q2 FY10 Q2 FY11 % change Bottled oil 35.9 36.3 1.1% 8.0 4.6 (42.5)% 22.3% 12.6% 36.5 28.2 22.7% Bulk oil 66.8 258.1 286.4% 9.8 2
Slide 9: Liquidity position & credit metrics
Liquidity position & credit metrics Amounts in USD millions, except ratios 31 December 2009 30 September 2010 31 December 2010 Cash 50.3 44.5 21.6 Inventory 268.4 373.0 556.2 Of which: Readily Marketable Inventories 265.2 367.2 548.1 RMI/Inventories 98.8% 98.5% 98.5% Gross interest-bearing debt 400.
Slide 10: Outlook & Revised Guidance for full financial year 2011
Outlook & Revised Guidance for full financial year 2011 $1,800 million Revenue $300 million EBITDA $225 million Net income Q2 FY2011 10