Slide 1: Results Presentation Year Ended 30 June 2007
For personal use only Results Presentation Year Ended 30 June 2007
Slide 2: Financial Results Year Ended 30 June 2007
FINANCIAL RESULTS YEAR ENDED 30 JUNE 2007 For personal use only Year Year (A$’000) ended ended % increase 30/06/06 30/06/07 Sales Revenue 217,866 229,498 +5% Operating EBIT 38,369 40,549 +6% Interest Expense -466 -535 Profit from Pesticides Division 4,356 - Net Profit before tax 42,259 40,014 Tax ex
Slide 3: Earnings History
EARNINGS HISTORY For personal use only Ordinary Dividend Per Share Earnings Per Share 57.0c EPS year-end 72.5c 71.0c 60 +7.5% 80 +6% +26% +18% 70 50 +42% +62% 60 40 50 +28% cents cents 30 +41% 40 +23% +37% 30 20 20 10 10 0 0 2002 2003 2004 2005 2006 2007 2002 2003 2004 2005 2006 2007
Slide 4: Balance Sheet
BALANCE SHEET For personal use only 2006 2007 $’000 $’000 Current Assets 49,898 64,059 Cash On Hand 22,557 6,924 Non Current Assets 79,421 89,170 Total Assets 151,876 160,153 Current Liabilities 38,952 52,281 Borrowings 1,303 1,636 Non Current Liabilities 10,140 10,732 Total Liabilities 50,395 64,64
Slide 5: Funding
FUNDING For personal use only Projected Net Debt Levels 50.0 40.0 30.0 20.0 $m 10.0 0.0 -10.0 -20.0 -30.0 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun '06/07 '07/08 Estimate
Slide 6: Our Business Today
OUR BUSINESS TODAY For personal use only Orchard Development Nursery 2007 EBIT $5.1 M Orchard establishment Orchard Management Managed Orchards Owned Orchards 2007 EBIT Almond Growing 2007 EBIT $16.1 M Harvesting $11.6 M Processing Primary Processing Value-Added Processing 2007 EBIT $4.0 M Almond Nu
Slide 7: Divisional Performance
DIVISIONAL PERFORMANCE For personal use only Group EBIT 2002 2003 2004 2005 2006 2007 $’000 Owned orchards 6,350 7,687 8,804 13,706 14,147 11,567 Managed orchards 3,959 6,099 9,460 12,564 17,928 25,260 Total Almond Division 10,309 13,786 18,264 26,270 32,075 36,827 Food Division 5,003 4,598 7,027 9,
Slide 8: Almond Division
ALMOND DIVISION For personal use only EBIT FY 2007 - $36.827m EBIT FY 2006 $32.075m 15% • Developed 11,800 acre of new almond orchards • Increased total area under management by 43% to 39,000 acres • Increased development fees • Increased base for recurring fee income • Included in new developments
Slide 9: Food Products Division
FOOD PRODUCTS DIVISION For personal use only EBIT FY 2007 - $7.422m EBIT FY 2006 $9.212m 19% • Sales for the year down by 9% to $138 million • Aggressive private-label strategies continue to impact business in terms of margin and competition to branded product • Increased sales in the premium privat
Slide 10: Orchard Development
ORCHARD DEVELOPMENT For personal use only Activities • Tree supply Orchard Development (acres) • Orchard feasibility studies 12000 • Land acquisition 11000 10000 • Orchard design 9000 8000 • Irrigation installation 7000 6000 • Land preparation 5000 4000 • Tree planting 3000 2000 1000 0 1997 1998 199
Slide 11: Orchard Management
ORCHARD MANAGEMENT For personal use only Key Strategies Acres under management 38,644 Acres • Enhanced technical team Managed Owned/leased • Water Management 91% 9% - Develop scenarios for handling potential reduced water availability in 2007/2008 % of Australia’s Almond Acreage 60% • Commence a num
Slide 12: Processing - Primary Processing
PROCESSING - Primary Processing For personal use only Key Strategies • Construction of stage 1 of a processing facility in Robinvale at a cost of $32 million • Increase total capacity to 40,000 mt • Highly mechanised • Commissioning in February 2008 • Pasteurisation capacity • State of the art sorti
Slide 13: Processing - Added Value Processing
PROCESSING - Added Value Processing For personal use only • Rationalisation, consolidation and alignment of core capabilities over the next 12 months • Focus on cost efficient production • Upgrade of processing and packaging technology • “Fit for purpose” warehousing and distribution • Complete busi
Slide 14: Sales and Marketing - Almond Pool Management
SALES AND MARKETING - Almond Pool Management For personal use only 2007 Almond Pool increased from 6,000 mt in 2006 to 12,000 mt in 2007 • 2007 almond crop 70% sold • Increased export focus - 2007 export percentage to increase to approximately 60% from 40% in 2006 Almond Price AUD/KG Distribution Cu
Slide 15: Sales and Marketing - Almond Pool Management Continued
SALES AND MARKETING - Almond Pool Management Continued For personal use only USA ANNUAL PRODUCTION USA Production VS Shipments 1400 1400 1200 1200 1000 (million lbs) 1000 800 800 600 600 400 400 200 200 0 0 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 200
Slide 16: Sales and Marketing - Added Value
SALES AND MARKETING - Added Value For personal use only Key Strategies • Re-alignment of business to a nut/almond nut focus • Focus on maximising added value opportunities from almond pool • Concentration of investment in key brand “Lucky” • Re-launch of Lucky brand in spring 2007 • House brand focu
Slide 17: Outlook
OUTLOOK Key growth areas For personal use only 80000 70000 (Estimated fee revenue 60000 Increased revenue from existing managed 50000 based on current plantings) orchards 40000 30000 20000 10000 0 2008 2009 2010 2011 2012 2013 2014 2015 Development of new almond orchards & other tree nut crops 5000