Wingara Ag Ltd. · ASX:WNR
Wingara — Investor Presentation (November 2021)
15 slides from Wingara's investor presentation, Nov 26, 2021
Slide 1: Half year results
30 September 2021 Half year results James Whiteside (CEO) and Jae Tan (CFO)
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Wingara for professional investors. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in t
Slide 3: Business update
Business update James Whiteside | Chief Executive Officer 3
Slide 4: Strong revenue growth, market and legacy issues impact EBITDA
Strong revenue growth, market and legacy issues impact EBITDA. • Strong 49% revenue growth driven by an increase in hay production volumes from 27.7k to 44.1k tonnes. Capital investment driving up machine up time. • EBITDA from continuing operations performance falling 66% to $0.6m (H1 FY21: $1.7m).
Slide 5: H1 FY22 Headlines
H1 FY22 Headlines • Revenue up $6.2m (or 49%) strong hay production Successes volume growth to service strong customer demand. $18.9m of revenue, up 49% HOH • Record 6 month hay production volumes with 59% 44.1k production tonnes, up 59% HOH growth to 44.1k tonnes. 1.0m blast cartons, up 22% HOH • E
Slide 6: Financial results
Financial results Jae Tan | Chief Financial Officer 6
Slide 7: Consolidated P&L - H1 FY22 Headlines
Consolidated P&L - H1 FY22 Headlines Financial performance FY22 FY21 Change • Revenue growth of 49% to $18.9m (H1 FY21: $12.7m) supported ($'000) H1 H1 by export volume growth of 59% to 44.1k tonnes (H1 FY21: 27.7k Revenue 18,869 12,683 49% tonnes). Increase in machine up time and longer production
Slide 8: Results by business unit
Results by business unit With Austco Polar business unit classified as held for sale, the Group operates one operating segment being its continuing business – fodder. Below is a summary by business unit. FY22 H1 Fodder Total continuing Service ($'000) JC Tanloden Corporate business Austco Polar Tota
Slide 9: JC Tanloden performance
JC Tanloden performance Financial performance FY22 FY21 Change ($'000) H1 H1 • Revenue growth of 49% to $18.9m. • Strong export demand. Revenue 18,869 12,683 49% • Increased machine uptime from capital investment and improved Gross profit 7,087 5,128 38% maintenance plans. GP Margin 38% 40% • Increa
Slide 10: Austco Polar Cold Storage performance
Austco Polar Cold Storage performance Financial performance FY22 FY21 Change • Revenue down 4% to $5.4m on pcp. ($'000) H1 H1 • Meat processing market is recovering as the world emerges from lockdown driving up blast carton volume demand, up Revenue 5,422 5,667 (4%) 22% from pcp. Gross profit 1,791
Slide 11: Strengthening balance sheet
Strengthening balance sheet Financial position ($'000) 30-Sep-21 31-Mar-21 Change • Austco Polar now aggregated into separate assets and liabilities Cash 4,644 1,920 142% held for sale. Balances therefore reflect the JCT and Corporate Working capital (1,465) (1,227) 19% business units. Property, pla
Slide 12: Cash flow
Cash flow Cash flow FY22 FY21 Change ($'000) H1 H1 • Operating cash flows have increased by 463% to $1.1m due to JC Tanloden performance, in addition to strong working capital EBITDA before significant items 572 1,705 (66%) management. Cash outflow from significant items (169) (54) 213% Working capi
Slide 13: H2 Outlook
H2 Outlook James Whiteside | Chief Executive Officer 13
Slide 14: Market headwinds continuing into H2
Market headwinds continuing into H2 Staffing shortages The nation's chronic labor shortage is severely impacting JCT as we seek to build a strong and engaged workforce and this has been exacerbated by the significant increase in production volumes. We are responding by actively seeking to make all r
Slide 15: Strong momentum into H2
Strong momentum into H2 A number of initiatives taken are already showing in improved monthly performance. These include: • Further increasing machinery uptime by an increased investment in plant and equipment, engineered solutions to address operational bottlenecks and redesign of processes to acco