AGRANA Beteiligungs-AG · VIE:AGR
AGRANA Beteiligungs-AG — H1 2010|11 Earnings Presentation
21 slides from AGRANA Beteiligungs-AG's earnings presentation, Oct 14, 2010
Slide 1: AGRANA Beteiligungs-AG Results for the first half of 2010|11
AGRANA Beteiligungs- Beteiligungs-AG Results R lt for f the th first fi t hhalf lf off 2010|11 (March 1 – August 31, 2010) October 14, 2010|1
Slide 2: Financial Highlights H1 2010|11
Financial Highlights H1 2010|11 Further improvement of business performance Group revenue up by 3.8% to € 1,073.3m (H1 2009|10: € 1,034.2m) Operating profit after exceptional items up to € 64.8m (H1 2009|10: € 43.9m) Operating margin rose to 6.0% (H1 2009|10: 4.2%) Equity ratio of 51.4% (YE 2009|10:
Slide 3: AGRANA's Revenue by Segment
AGRANA’s Revenue by Segment €m 1,034.2 +3.7% 1,073.3 Fruit Starch Sugar 411.0 +5,7% 434.5 251.8 +8.3% 272.6 34.1 40.5 35.9 35 9 39.8 39 8 % % % % 371.4 -1.4% 366.2 24.3 25.4 % % H1 2009|10 H1 2010|11 H1 2009|10 H1 2010|11 October 14, 2010|3
Slide 4: AGRANA's Operating Profit by Segment
AGRANA’s Operating Profit by Segment €m 64.8 +47.6% Fruit Starch 21.7 Sugar 43.9 +106.7% 10.5 +51.0% 23.9 19.0 30.8 29.7 % % 33.5 20.4 % % 46.4 47.5 -6 1% -6.1% % % 13.1 12.3 H1 2009|10 H1 2010|11 H1 2009|10 H1 2010|11 October 14, 2010|4
Slide 5: Key Drivers for H1 2010|11
Key Drivers for H1 2010|11 SUGAR o Lower sales p prices for quota q sugar g Segment o Increase in non-quota sugar revenue o Raw material cost increases in the refining business o Higher sales volumes STARCH Segment o Volumes V l overcompensated t d lower l prices i o Good performance of the bioethan
Slide 6: SUGAR Segment Highlights
SUGAR Segment Highlights R Revenue € €m -1.4% Revenue of € 366.2m 371.4 366.2 • Slight decrease dec ease in sugar s ga revenue e en e • Prices of quota sugar below prior year • Increase in non-quota sugar volumes and prices H1 2009|10 H1 2010|11 Operating Profit €m -6.1% Operating Profit of € 12.3m
Slide 7: Quotation for Raw Sugar & White Sugar
Quotation for Raw Sugar & White Sugar Januaryy 2006 – October 2010 ((in EUR)) FY 2010|11 White sugar (LSE) 12/10/2010 698 USD/to = 501 EUR/to Raw sugar ( (NYSE) ) 12/10/2010 605 USD/to = 435 EUR/to October 14, 2010|7
Slide 8: STARCH Segment Highlights
STARCH Segment Highlights Revenue €m +8.3% Revenue of € 272.6m 272.6 251.8 • Sales volumes increase in all product and by by-products products categories • Higher sales volumes compensated lower sales prices • Bioethanol sales volumes and sales pprices exceeded H1 2009|10 H1 2010|11 last year’s leve
Slide 9: Price Development of Cereals
Price Development of Cereals Januaryy 2009 – October 2010 ((in EUR)) WHEAT Quotation (Paris) 12/10/2010 221 €/ton CORN Quotation (Paris) 12/10/2010 207 €/ton October 14, 2010|9
Slide 10: FRUIT Segment Highlights
FRUIT Segment Highlights R Revenue € €m +5.7% Revenue of € 434.5m 411.0 434.5 • Increased sales volumes of fruit preparations and j i concentrates juice t t more th than compensated t d th the lower sales prices • Growth regions for fruit preparation are Russia, USA and Asia-Pacific H1 2009|10 H1 20
Slide 11: Financial Results H1 2010|11
Financial Results H1 2010|11 October 14, 2010|11
Slide 12: Consolidated Income Statement
Consolidated Income Statement (based on IFRS) Q2 Q Q2 H1 H1 Key P&L figures €m 2010|11 2009|10 2010|11 2009|10 Revenue 532.9 528.0 1,073.3 1,034.2 Operating profit before exceptional items 30.5 23.9 64.8 43.9 E Exceptional ti l items it 0 0 0 0 Operating profit after 30.5 23.9 64.8 43.9 exceptional
Slide 13: Change in net financial items
Change in net financial items H1 H1 €m 2010|11 2009|10 Net interest (expense) (12.9) (13.5) FX drivers: Currency translation differences (2.4) 14.6 HUF and PLN Other financial items and share of results of non-consolidated ((0.7)) 1.3 subsidiaries and outside companies Net financial items (16.0) 2.4
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Key figures €m 31 August 2010 28 February 2010 Non-current assets 994.1 1,003.7 Current assets 786 2 786.2 884 2 884.2 Total equity 914.9 904.7 Non-current liabilities 267.7 288.2 Current liabilities 597.7 695.0 Balance sheet total 1,780.3 1,887.9 Equity ratio 51.4% 47.9%
Slide 15: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement H1 H1 €m 2010|11 2009|10 Net cash from operating activities 122.9 122.5 Net cash used in investing activities (14.5) (9.9) Net cash used in financing activities (92.7) (81.3) Net increase in cash and cash equivalents 15.8 31.3 October 14, 2010|15
Slide 16: Total Investment
Total Investment €m +17.2% Fruit o Project for the production of 19.1 chocolate fruities in Austria o Tunnel T l freezer f for f iindividual di id l quick i k 16.3 freezing of fruit pieces 8.0 76 7.6 Starch o Industrial machinery and plant in 2.9 Hungary 3.8 8.2 Sugar o Installation of a new molasse
Slide 17: Outlook
Outlook Pe STARC SUGAR. H, FRUIT. October 14, 2010| 17
Slide 18: Outlook AGRANA Group FY 2010|11
Outlook AGRANA Group FY 2010|11 • Slight increase of Group revenue 2010|11 with higher sales volumes andd increased i d sales l prices i in i H2 2010|11 expected • Improved I d operating ti profit fit 2010|11 by b o Savings in purchasing o Cost C t managementt o Sales optimisation o Although Alth h
Slide 19: Segment Outlook FY 2010|11
Segment Outlook FY 2010|11 o Sugar quotas met SUGAR Segment o Out of Quota-sugar available, export licences fixed o Quota-sugar sales prices stabilise now o Lower revenue, due to volumes, in the refining countries expected o Upward trend for speciality starches (Non-Food) STARCH Segment o Rising raw
Slide 20: Thank you for your attention.
Thank you for your attention. October 14, 2010|20
Slide 21: 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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