Slide 1: Final Results for the twelve months to 30 September 2014
Final Results Interim Results for forthe thetwelve months six months to to30 31September March 20142014
Slide 2: Disclaimer
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Slide 3: Overview
Overview • A challenging year overall – Turnover USD279.5m (2013 : USD300.4m) – Adjusted* loss before tax USD0.3m (2013 : Profit USD5.7m) – Macro economic and external factors stabilise • Strong end to the year - H1 Adjusted* loss before tax – USD3.1m - H2 Adjusted* profit before tax – USD2.8m • Goo
Slide 4: 2014 Financials
2014 Financials 4
Slide 5: Abridged Income Statement
Abridged Income Statement 30 September 2014 30 September 2013 % Change USD'000 USD'000 Turnover 279,465 300,388 -7.0% COS (185,075) (196,286) -5.7% Gross Profit 94,389 104,102 -9.3% Other Income 484 97 399.3% Administrative Expenses (84,033) (89,300) -5.9% Administrative Expenses (exc depreciation)
Slide 6: H1 & H2 Income Statement
H1 & H2 Income Statement Abridged Income Statement - H1 & H2 30 September 2014 Half 2 Half 1 USD'000 USD'000 USD'000 Turnover 279,465 145,197 134,268 Gross Profit 94,389 50,487 43,903 Other Income 484 484 - Administrative Expenses (84,033) (42,716) (41,317) Administrative Expenses (exc depreciation)
Slide 7: H1 v H2 Key Ratio Charts
H1 v H2 Key Ratio Charts USD’000 150,000 52,000 37,400 37,200 145,000 50,000 37,000 140,000 48,000 46,000 36,800 36,600 • Half 1 135,000 44,000 36,400 36,200 • Half 2 130,000 42,000 36,000 125,000 40,000 35,800 Turnover Gross Profit Admin Expenses (Excl Depreciation) 4,000 4,000 3,000 14,000 2,000 3
Slide 8: Abridged Balance Sheet
Abridged Balance Sheet 30 September 2014 30 September 2013 USD'000 USD'000 Non-current assets 257,182 280,285 Current assets 115,538 122,566 TOTAL ASSETS 372,720 402,851 Capital and reserves 214,249 254,348 Non-current liabilities 63,374 68,726 Current liabilities 95,097 79,777 TOTAL EQUITY AND LIAB
Slide 9: Abridged Cash Flow
Abridged Cash Flow 30 September 2014 30 September 2013 USD'000 USD'000 Profit before taxation (3,598) 4 111 EBITDA 18,259 22 498 Movement in working capital (4,456) (2,029) Cash inflow from operating activities 13,803 20,469 Cash (outflow) / inflow (on) / from investing activities (16,992) 590 Cash
Slide 10: Divisional Revenue and Gross Profit
Divisional Revenue and Gross Profit Revenue and Gross Profit Summary 2014 2013 2014 2013 Revenue Revenue Gross Profit Gross Profit Segment USD'000 USD'000 Movement USD'000 USD'000 Movement Beef 58 806 60 998 -3.6% 18 233 19 633 -7.1% Stock Feed 57 699 49 757 16.0% 9 301 11 120 -16.4% Edible Oils 53
Slide 11: Divisional Review
Divisional Review Perishables Farming Manufacturing • Beef • Cropping • Edible Oils GP: USD18.2m, down 7.1% GP: USD26.4m, down 9.3% GP: USD11.1m, down 42.3% - Excellent performance in H2 - 23,515 hectares planted - 58,747 M.T. crushed (86,495 M.T. in 2013) - Commercial cattle supply stable - Soya be
Slide 12: Segmental Summary
Segmental Summary Revenue Gross Profit Fish, 1% Zamchick Master Meats Master Meats Leather, Fish, 1% Leather, 2% Inn, 1% Ghana, 1% Ghana, 1% 2% Eggs, 2% Zamchick Inn, 1% Eggs, 2% Mill & Bakery, 3% Mill & Bakery, 4% Milk, 4% Beef, 19% Beef, 18% Milk, 8% Master Meats Nigeria, 5% Master Meats Nigeria,
Slide 13: Divisional H1 & H2 Revenue (USD'000)
Divisional H1 & H2 Revenue (USD’000) 2014 H1 2014 H2 35,000 3.87% 31,305 30,645 29,961 -24.25% -9.54% 28,845 18.61% 27,111 30,000 26,394 24,525 23,213 25,000 20,000 49.91% 8.47% 12,558 12,530 15,000 11,552 39.55% -13.22% 19.06% 9,583 8,377 7,615 10,000 6,867 6,532 6,396 5,669 9.00% 37.89% -11.21% 28
Slide 14: Divisional H1 & H2 Gross Profit (USD'000)
Divisional H1& H2 Gross Profit (USD’000) 2014 H1 2014 H2 16,000 3.53% 13,434 12,977 14,000 52.73% 11,019 12,000 10,000 -13.61% -1.69% 7,214 8,000 5,943 5,134 6,000 4,690 4,611 22.00% 3,929 12.21% -5.14% 108.72% 4.00% 3,221 2,809 4,000 2,503 2,259 -9.03% 2,027 21.47% 1,949 70.09% 1,314 60.76% 1,246 1
Slide 15: Retail
Retail • Revenue from core cold chain food products – beef, chicken, pork, dairy, eggs, were up by 13.4% in H2 • 98 Zambeef Stores- 92 in Zambia, 6 in Nigeria • 7 new shoprite stores in 2014 (total 37, 22 Zambia, 11 Nigeria, 4 Ghana), 5 planned for 2015 H1 2014 H2 2014 % Change Total 2014 Total 2013
Slide 16: Outlook
Outlook • Trading continuing trend set in H22014 • Focus on Strategic Priorities - Retailing of cold chain meat and dairy products - Where appropriate, forging strategic alliances and partnerships with industry players - Unlocking value and capital gains from within the group and reduce debt / geari
Slide 17: Appendices
APPENDICES Appendices 17
Slide 18: Attractive Zambia Fundamentals
Attractive Zambia Fundamentals • One of the fastest growing economies in SAA; with GDP growth averaging more than 6.5% over the last 5 years • Ranked 9th in IMF’s forecast of the world’s fastest growing global economies • Consumer sector growing at an average of >14% • GDP per capita has increased f
Slide 19: Why Invest In Africa?
Why Invest In Africa? Today Future GDP Growth Increased to 4.7% in 2013 supported by Strengthening external demand is robust domestic demand, notably expected to support growth over the investment growth forecast horizon, with GDP growth projected to rise to 5.5% in 2016 Population 1 billion people
Slide 20: Contact details
Private Bag 17 Private Bag 17 Plot 4970 Woodlands Woodlands PlotIndustrial Manda Road 4970 Area Manda Road Industrial Area Lusaka Lusaka Zambia Zambia Tel: +260 211 369 000 Tel:Fax: +260 211 211 +260 369 369 000 050 Fax: +260 211 369 050 www.zambeefplc.com www.zambeefplc.com 20