Murray Cod Australia Limited · ASX:MCA
Murray Cod Australia — FY2022 Earnings Presentation
19 slides from Murray Cod Australia's earnings presentation, Aug 31, 2022
Slide 1: Murray Cod Australia Limited 2022 Annual Results Summary
For personal use only MURRAY COD AUSTRALIA LIMITED ASX code: MCA 2022 Annual Results Summary
Slide 2: Disclaimer
For personal use only DISCLAIMER This presentation has been prepared by Murray Cod Australia Limited (the “Company”). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the conten
Slide 3: Key Points
For personal use only KEY POINTS • Strong sales growth • $76m balance sheet with $27m in cash • Price increase from $20 to $24 whole round fish • Demand Exceeding Supply • Expect limited growth in sales in FY 2023 • Growth trajectory of 10,000 Tonnes still on track • Innovation saving capital - tria
Slide 4: Growth Trajectory
NUMBER OF PONDS PER CALENDAR YER INCLUDING THE 16 PONDS BEING BUILT IN 2022 For personal use only GROWTH TRAJECTORY +2,400% 50 • The company’s growth trajectory of +47% 10,000 tonnes by 2027 is still on track 34 • Earthworks on 6 of the planned 16 26 ponds are complete. We expect to 20 commission al
Slide 5: Financial Overview
TOTAL REVENUE Including Biological Stock For personal use only FINANCIAL OVERVIEW $22.21m • Strong Revenue growth $2.49m Provision for Biological Inventory • Strong balance sheet $19.72m Net assets $76.4M $27m Cash $14.26m Land & buildings and water assets $26.9M • 525 tonnes of fish harvested 2022
Slide 6: Provision - Biological Inventory
For personal use only PROVISION - BIOLOGICAL INVENTORY • The company has made a provision for $2.6 million against biological stock. This represents a conservative value of the biomass for fish which have moved outside faulty nets but are contained within ponds. • The biomass value has been calculat
Slide 7: Cost of Fish Sales
COST OF FISH SALES For personal use only 2022 FY Increase of $8.8 million over 2021 FY Difference Changes in Inventory & Biological value increase $5.9 m Growing and Selling Costs $1.6 m Purchases from Contract Growers $1.3 m Total $8.8 m 7 aquna.com
Slide 8: Demand Exceeding Supply
For personal use only DEMAND EXCEEDING SUPPLY • Demand is exceeding supply which will impact availability of saleable size fish in the 2kg+ range over the next 12 months. • We are running out of larger sized fish as a result of conservative stocking in summer of 2020/21 and pivoting to live sales of
Slide 9: Aim for Long Term Value Will Limit Sales Growth in FY 2023
For personal use only AIM FOR LONG TERM VALUE WILL LIMIT SALES GROWTH IN FY 2023 • Over the longer term our aim is build on Aquna’s position as a high margin luxury product - not a commodity • Move to larger fish by top end chefs over COVID period has changed our sales mix • Larger sized fish to be
Slide 10: Innovation: Free Range Trial and Out-of-Season Spawning
INNOVATION For personal use only Free range trial Out-of-Season Spawning Planned Free Range Ponds • Trial to commence in 2022 • In April 2022, we commenced calendar year our Out of Season Spawning Trial. • Predicted benefits include significant reduction in future • There have been trials capital co
Slide 11: Innovation: Juvenile Fish Production
INNOVATION For personal use only JUVENILE FISH PRODUCTION • Juvenile fish now kept in ponds not RAS • Juveniles are weaned at an earlier life stage • Less infrastructure required - Much lower capex required for expansion • Higher output – smaller footprint • Increased efficiencies driving costs savi
Slide 12: Grocery Expansion
For personal use only GROCERY EXPANSION WE HAVE EXPANDED OUR RETAIL PRESENCE ACROSS THE EAST COAST WOOLWORTHS COLES 150 stores across Victoria and 39 stores throughout Victoria New South Wales HARRIS FARMS 6 selected stores within New South Wales 12 aquna.com
Slide 13: Our Brand Timeline
OUR BRAND TIMELINE For personal use only 13 aquna.com
Slide 14: Our Fish
For personal use only OUR FISH Delicate. Clean. Sweet. Aquna Murray Cod has a firm texture and naturally clean, creamy flavour. The pale white fillet has a large flake and relatively high fat content making it perfect for most cooking conditions. That is why Aquna is coveted as a fine-dining fish at
Slide 15: For personal use only
For personal use only Aquna has created a luxury fish product by combining natural processes evolved over millions of years with cutting edge technology that has resulted in a fantastic quality fish. Heston Blumenthal, Michelin starred chef. 15 aquna.com
Slide 16: What We Believe In
WHAT WE BELIEVE IN For personal use only aquna.com 16
Slide 17: Sustainability
SUSTAINABILITY For personal use only RESTOCKING PROGRAM: • For every farmed Murray cod harvested from our production ponds, the Murray-Darling Basin was restocked with seven MCA fingerlings NEW INITIATIVES • The company provided large Murray Cod fish to both the Victorian and WE RELEASED: South Aust
Slide 18: Sustainability and Social Reports
SUSTAINABILITY AND SOCIAL REPORTS For personal use only At Aquna Sustainable Murray Cod, our goal is to have a positive impact on people’s plates and the planet. Our vision is to set the sustainability benchmark globally for the Aquaculture industry. Over the last year, Aquna’s sustainability perfor
Slide 19: Sustainable Murray Cod
Stet: Sustainable Murray Cod