Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — Q1 2014 Earnings Presentation
23 slides from Golden Agri-resources's earnings presentation, May 14, 2014
Slide 1: Interim Performance Presentation YTD Mar 2014
Golden Agri-Resources Ltd Interim Performance Presentation YTD Mar 2014 : three-month period ended 31st March 2014 14 May 2014 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: Contents
Contents 1 Executive Summary 3 2 Financial Highlights 5 3 Plantation Highlights 10 4 Downstream Highlights 14 5 Strategy and Outlook 16 6 Appendix 20 2
Slide 4: Executive Summary
1 Executive Summary Ou agribusiness and food
Slide 5: Executive Summary
Executive Summary Sustained year-on-year expansion with growing upstream and downstream businesses in Indonesia Price - US$/MT EBITDA - US$ million Output - ‘000 MT 1Q 2014 vs 1Q 2013 results 210 900 180 Revenue $1,914 mn 34% 150 800 120 EBITDA $200 mn 5% 700 90 Net Profit1 $104 mn 8% 60 600 30 Palm
Slide 6: Financial Highlights
2. Financial Highlights ~*) gar agribusiness and food
Slide 7: Financial Performance – 1Q 2014
Financial Performance – 1Q 2014 YoY US$ US$ million 1Q 2014 1Q 2013 Change Revenue 1,914 1,430 34% Gross Profit 390 357 9% EBITDA 200 211 -5% Interest on borrowings -28 -23 19% Depreciation and amortisation -36 -31 15% Foreign exchange gain, net 3 5 -38% Net Profit attributable to owners of the Comp
Slide 8: Segmental Results - Revenue
Segmental Results - Revenue YoY US$ million 1Q 2014 1Q 2013 Change 1 Plantations and palm oil mills 501 427 17% Volume ('000 tonnes) 691 668 4% 2 Palm and lauric 1,636 1,125 45% Volume ('000 tonnes) 1,971 1,451 36% 3 Oilseeds 211 239 -12% Volume ('000 tonnes) 312 338 -8% 4 Others 46 51 -9% Eliminati
Slide 9: Segmental Results - EBITDA
Segmental Results - EBITDA YoY US$ million 1Q 2014 1Q 2013 Change Plantations and palm oil mills1 171.6 132.5 30% 34.2% 31.0% 3.2% 2 Palm and lauric 29.6 73.9 -60% 1.8% 6.6% -4.8% Oilseeds3 -3.3 1.9 n.m -1.6% 0.8% -2.4% Others4 2.5 1.7 46% 5.3% 3.3% 2.0% Elimination and adjustments -0.1 0.7 n.m Cons
Slide 10: Financial Position
Financial Position Balance sheet fundamentals remain strong with ample liquidity and prudent gearing (in US$ million) 31-Mar-14 31-Dec-13 Change Total Assets 14,252 14,148 0.7% Cash and Short-Term Investments 639 587 8.9% Trade Receivables and Inventories 1,185 1,246 -4.9% Fixed Assets1 10,382 10,34
Slide 11: Plantation Highlights
3 Plantation Highlights ~*) gar agribusiness and food
Slide 12: Plantation Area
Plantation Area GAR’s oil palm plantations continue to be leading in scale and operational excellence Mature Area - ha Planted Area - ha 443,845 430,711 469,576 471,100 100,282 99,998 95,779 92,221 348,066 369,294 371,102 338,490 31‐Mar‐14 31‐Dec‐13 31‐Mar‐14 31‐Dec‐13 Nucleus Plasma Nucleus Plasma
Slide 13: Planted Area Age Profile
Planted Area Age Profile GAR’s long-term growth is supported by favourable age profile of its plantations Hectarage as of 31 Mar 2014 Hectarage as of 31 Dec 2013 5% 6% 4% 9% 24,338 14% 20,282 23% 17% 29% 25,731 40,389 65,826 107,079 137,995 79,912 215,686 223,438 46% 47% Notes: 1. Total planted area
Slide 14: Production Performance
Production Performance 1Q 2014 FFB and palm product output grew year-on-year 1Q 2014 1Q 2013 Change FFB Production (‘000 tonnes) 2,243 2,149 4% Nucleus 1,784 1,686 6% Plasma 459 463 -1% FFB Yield (tonnes/ha) 5.1 4.9 2% Palm Product Output (‘000 tonnes) 691 664 4% CPO 561 539 4% PK 129 125 3% Oil Ext
Slide 15: Downstream Highlights
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Slide 16: Downstream Achievement – 1Q 2014
Downstream Achievement – 1Q 2014 Sourcing of Product Sales and raw materials Processing customisation distribution Almost 2 million • Full utilization of all Sales of palm • Destination sales tonnes of palm our refineries in based refined grew by 75% year- based products Indonesia products increased
Slide 17: Strategy and Outlook
5 Strategy and Outlook ~*) gar agribusiness and food
Slide 18: Strategic Priorities
Strategic Priorities Build on core competitive strengths and leverage scale to maximize long-term shareholder returns Objective: Sustained Growth and Profitability Upstream Downstream Sustain cost Optimise Grow Shift product To stay leadership value destination mix to higher throughout business valu
Slide 19: Holistic Approach to Sustainability
Holistic Approach to Sustainability Certification received as at 30 April 2014 • RSPO 179,201 ha of plantations including smallholder plantations of 28,221 ha, 16 mills, 3 kernel crushing plants, 2 refineries and 1 bulking station • ISCC 266,843 ha of plantations including smallholder plantations of
Slide 20: Growth Strategy and Outlook
Growth Strategy and Outlook GAR continues to expand its operation capabilities to capitalise on the robust long-term industry outlook, best-in-class plantation management and solid financial position Upstream Growth • Expanding palm oil plantations by 20,000-30,000 hectares in 2014 through organic g
Slide 21: Appendix
6 Appendix ~*) gar agribusiness and food
Slide 22: Age Profile
Age Profile The average age of GAR’s plantations is 14 years, securing the long-term growth of its production Immature Young Prime Old 1 Old 2 Total (in ha) (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) 31 March 2014 Nucleus 21,228 54,211 175,276 94,241 24,338 369,294 Plasma 4,503 1
Slide 23: Contact Us
Contact Us If you need further information, please contact: Golden Agri-Resources Ltd c/o 108 Pasir Panjang Road #06-00 Golden Agri Plaza Singapore 118535 Telephone : +65 65900800 Facsimile : +65 65900887 www.goldenagri.com.sg Contact Person : Richard Fung richard@goldenagri.com.sg 22
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