Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — YTD Sep 2008 Earnings Presentation
21 slides from Golden Agri-resources's earnings presentation, Nov 12, 2008
Slide 1: Interim Performance Presentation
Interim Performance Presentation YTD Sep 2008 : nine-month period ended 30th September 2008 12 November 2008 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 5 Section 3 Operational Highlights 11 Section 4 Growth Strategy 16 2
Slide 4: Executive Summary
Section 1 Executive Summary 3
Slide 5: YTD Sep 2008 Performance Summary
YTD Sep 2008 Performance Summary • Record nine-month Net Profit of over USD1.2 billion, increased by 111% from last period • Revenue increased by 97% to USD2.4 billion • Gross profit increased by 87% to USD787 million • EBITDA increased by 54% to USD559 million • Record nine-month period Palm Produc
Slide 6: Financial Highlights
Section 2 Financial Highlights
Slide 7: Financial Summary – YTD Sep 2008
Financial Summary – YTD Sep 2008 US$'million YTD Sep 2008 YTD Sep 2007 % Change Revenue 2,395 1,215 97% Gross Profit 787 422 87% EBITDA 559 364 54% Net Profit attributable to equity holders 1,249 591 111% Comprising: Net gain from changes in fair value of biological assets (Net of tax & minority int
Slide 8: Financial Summary – 3Q 2008 vs 3Q 2007
Financial Summary – 3Q 2008 vs 3Q 2007 US$'million 3Q 2008 3Q 2007 % Change Revenue 831 534 56% Gross Profit 222 184 21% EBITDA 135 153 -12% Net Profit attributable to equity holders 224 144 56% Comprising: Net gain from changes in fair value of biological assets (Net of tax & minority interests)1 1
Slide 9: Segmental Results – YTD Sep 2008
Segmental Results – YTD Sep 2008 79% of our revenue and nearly all of our earnings are from our Indonesia operations (in US$ million) Indonesia Operations China Operations YTD Sep ‘08 YTD Sep ‘07 %Change YTD Sep ’08 YTD Sep ‘07 %Change Revenue 1,897 910 109% 498 306 63% Gross Profit 774 398 94% 13 2
Slide 10: Revenue By Product and Geographical Location
Revenue By Product and Geographical Location Record revenue of US$2,395 million mainly from CPO and refined palm oil based products Revenue - By Product Revenue – By Country Others PK 3% Soybean 2% Oil 5% Indo Local Soybean China Local 27% Meal 9% 21% Branded CPO Products 11% 47% Indo Export Unbrand
Slide 11: Financial Position
Financial Position Strong balance sheet with low debt to equity ratio (in US$ million) 30-Sep-08 31-Dec-07 % Change Total Assets 6,893 5,013 38% Cash and Short-Term Investments 132 147 -10% Total Liabilities 2,320 1,632 42% Interest Bearing Debts 564 492 15% Total Equity Attributable to Equity Holde
Slide 12: Operational Highlights
Section 3 Operational Highlights
Slide 13: Plantation Area
Plantation Area GAR is one of the largest oil palm plantation companies in the world with integrated operations 31 Dec 30 Sep 30 Sep 30 Sep 2007/2008 (in ha) 2007 2007 2008 % increase Planted Area 359,732 352,029 382,524 8.7% Nucleus 277,629 270,306 299,818 10.9% Plasma 82,103 81,723 82,706 1.2% Mat
Slide 14: Plantation Area
Plantation Area GAR’s planted area is increasing with a favourable age profile underpinned by significant growth from immature and young plantations Immature Young Prime Old Total (in ha) (0-3 years) (4-6 years) (7-18 years) (>18 Years) Sep 2008 Nucleus 71,349 19,970 170,494 38,005 299,818 Plasma 2,
Slide 15: Production Highlights
Production Highlights Higher YTD palm products production due to increased mature hectarage and efficient plantation management including precision fertiliser application Slight decline in 3Q 2008 FFB yield vs 3Q 2007 due to higher percentage of young trees YTD Sep ‘08 YTD Sep ‘07 Change 3Q 2008 3Q
Slide 16: Production Performance
Production Performance • Nine-month period of Palm Product Production increased by 16% to 1,566,000 tons • Consistent year-on-year increases in volumes and yields FFB Production Palm Product Production (‘000 Tons) (‘000 Tons) (Ton/ha) 6,765 23.1 7,000 2,100 22.1 24 6,001 21.4 5,870 6,000 1,687 359 5
Slide 17: Growth Strategy
wa gar ZF gar and food Section 4 Growth Strategy
Slide 18: YTD Sep 2008 Growth Achievements
YTD Sep 2008 Growth Achievements Upstream • Expanded our planted area by 23,000 ha • Completed a mill in Central Kalimantan with annual CPO production capacity of 94,000 tons Downstream • Completed a refinery in Tarjun, South Kalimantan with capacity of 300,000 ton/year • Acquired an additional 60%
Slide 19: Short-term Strategy
Short-term Strategy Expansion Plan • Reviewing new planting programme for 2009 • Completing a CPO mill and two kernel crushing plants in Kalimantan as well as a refinery in Jakarta Cost Side • Focusing on the cost efficiency programme to maintain our cost competitiveness • Expect the price of our ma
Slide 20: Short-term Strategy (continued)
Short-term Strategy (continued) Liquidity Side • Preserve cash to stay as liquid as possible to support the operations and complete the existing projects • Maintain low gearing strategy Strong balance sheet, Yields above industry average, and Cost efficiencies put GAR in favourable position 19
Slide 21: 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
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