Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — FY2008 Earnings Presentation
20 slides from Golden Agri-resources's earnings presentation, Feb 27, 2009
Slide 1: Financial Results Presentation
Financial Results Presentation Year ended 31 December 2008 (FY2008) 27 February 2009 0
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Golden Agri-Resources Ltd. (“GAR” or “Company”) for informational purposes, and may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are b
Slide 3: Table of Contents
Table of Contents Section 1 Executive Summary 3 Section 2 Financial Highlights of FY 2008 and Q4 2008 5 Section 3 Operational Highlights of FY 2008 and Q4 2008 12 Section 4 Growth Strategy 16 2
Slide 4: Executive Summary
‘cai gar IJ ZF Gal ne and food Section 1 Executive Summary
Slide 5: FY 2008 Performance Summary
FY 2008 Performance Summary • Record Net Profit1 of close to USD 1.4 billion • Record Revenue to USD 3.0 billion, increase by 59% • Record EBITDA to USD 597 million, increase by 12% • Record Palm Product Production of 2.1 million tons • Continued growth of plantations area by 32,000 hectares2 • No.
Slide 6: Financial Highlights of FY 2008 and Q4 2008
Section 2 Financial Highlights of FY 2008 and Q4 2008
Slide 7: Financial Summary – FY2008
Financial Summary – FY2008 US$'million FY 2008 FY 2007 % Change Revenue 2,986 1,873 59% Gross Profit 876 658 33% EBITDA 597 535 12% Net Profit attributable to equity holders 1,383 1,165 19% Comprising: Net gain from changes in fair value of biological assets (Net of tax and minority interests)1 1,02
Slide 8: Financial Summary – 4Q 2008 vs 4Q 2007
Financial Summary – 4Q 2008 vs 4Q 2007 US$'million 4Q 2008 4Q 2007 % Change Revenue 591 658 -10% Gross Profit 90 237 -62% EBITDA 38 171 -78% Net Profit attributable to equity holders 133 574 -77% Comprising: Net gain from changes in fair value of biological assets (Net of tax and minority interests)
Slide 9: Segmental Results – FY 2008
Segmental Results – FY 2008 78% of our revenue and nearly all of our earnings are from our Indonesia operations (in US$ million) Indonesia Operations China Operations FY 2008 FY 2007 %Change FY 2008 FY 2007 %Change Revenue 2,328 1,395 67% 658 478 38% Gross Profit 859 610 41% 17 48 -64% Gross Profit
Slide 10: Revenue By Product and Geographical Location
Revenue By Product and Geographical Location Record revenues of USD 3.0 billion mainly from CPO and refined palm oil based products Revenue - By Product Revenue – By Country PK Others 2% 3% Soybean Oil 5% Indo Local Soybean China Local 26% Meals 9% 22% Branded Palm Products 11% CPO 48% Indo Export U
Slide 11: Financial Position
Financial Position Strong balance sheet with low debt to equity ratio (in US$ million) 31-Dec-08 31-Dec-07 % Change Total Assets 6,826 5,013 36% Cash and Short-Term Investments 138 147 -6% Total Liabilities 2,119 1,632 30% Interest Bearing Debts 554 492 13% Total Equity Attributable to Equity Holder
Slide 12: Dividend and Bonus Share
Dividend and Bonus Share The Company’s dividend policy is to distribute up to 30% of underlying profit as dividends Cash Dividend 2005 2006 2007 2008 Interim Dividend per share (in S$ cents) 0.251 0.541,2 1.001 0.80 Total Dividend (in S$ ‘million) 21.69 53.422 99.76 79.81 We distributed interim divi
Slide 13: Operational Highlights of FY 2008 and Q4 2008
Section 3 Operational Highlights of FY 2008 and Q4 2008
Slide 14: Plantation Area
Plantation Area GAR has delivered consistent growth by expanding its plantation area by 32,000 hectares to almost 392,000 hectares (in ha) FY 2008 FY 2007 % increase Planted Area 391,642 359,732 8.9% Nucleus 307,604 277,629 10.8% Plasma 84,038 82,103 2.4% Mature Area 308,821 292,578 5.6% Nucleus 228
Slide 15: Plantation Area
Plantation Area GAR’s long-term growth is supported by favourable age profile of planted area underpinned by large immature and young plantations Immature Young Prime Old Total (in ha) (0-3 years) (4-6 years) (7-18 years) (>18 Years) FY 2008 Nucleus 79,338 19,887 170,388 37,991 307,604 Plasma 3,483
Slide 16: Production Highlights
Production Highlights Record palm products production of more than 2 million tons in 2008 FY 2008 FY 2007 Change 4Q 2008 4Q 2007 Change FFB Production (tons) 6,923,503 6,764,804 2% 1,697,802 2,141,361 -21% Nucleus 5,049,810 5,077,782 -1% 1,207,408 1,593,866 -24% Plasma 1,873,693 1,687,022 11% 490,39
Slide 17: Growth Strategy
‘cai gar IJ ZF Gal ne and food Section 4 Growth Strategy
Slide 18: Growth Achievements in 2008
Growth Achievements in 2008 Upstream • Expanded our planted area by 32,000 ha • Completed two mills in Kalimantan with annual processing capacity of 625,000 tons Downstream • Completed a kernel crushing plant in Central Kalimantan with annual processing capacity of 45,000 tons • Completed a refinery
Slide 19: Growth Strategy for 2009
Growth Strategy for 2009 Expanding Oil Palm Plantations • Target additional planted area of 20,000 ha • Completing a mill in Kalimantan with annual processing capacity of 200,000 tons • Building two new mills in Kalimantan and a mill in Sumatra with total annual processing capacity of 825,000 tons t
Slide 20: Contact Us
Contact Us If you need further information, please contact: Golden Agri-Resources Ltd c/o 3 Shenton Way #17-03 Shenton House Singapore 068805 Website : www.goldenagri.com.sg Telephone : +65 62207720 Facsimile : +65 62207020 Contact Person : Rafael B. Concepcion, Jr. (rafaelc@goldenagri.com.sg) Suwan