Nufarm Limited · ASX:NUF
Nufarm — H1 2005 Earnings Presentation
22 slides from Nufarm's earnings presentation, Mar 29, 2005
Slide 1: Interim Results 6 months to January 31, 2005
NN: Interim Results 6 months to January 31, 2005 Doug Rathbone Managing Director
Slide 2: Group Sales and Reported Result
1H 2005 1H 2004 $m $m Group Sales 686 540 Operating profit (loss) 8.8 (1.9) Agripec 18.2 - 27.0 (1.9) Non operating items 1.3 - Reported result 28.3 (1.9)
Slide 3: Earnings per share and interim dividend
1H 2005 1H 2004 Earnings per share Interim dividend 16.8 cents (1.2) cents 9 cents 8 cents
Slide 4: Crop Protection and Chemicals segments
1H 2005 1H 2004 $m $m Crop Protection Sales 628.4 477.1 Segment profit* 58.2 26.8 Chemicals Sales 57.4 62.7 Segment profit** 3.8 2.1 * Pre tax and unallocated costs; includes Agripec ™ Pre tax and unallocated costs
Slide 5: Crop Protection key drivers
or dri Additional summer cropping and stronger position in horticulture - Australia Timing of sales — proactive management Sales growth in key markets
Slide 6: AINA Tae
AINA Tae
Slide 7: — . _
— . _
Slide 8: Australasia
ie Australasia * Improved summer cropping conditions in Australia = Impact of BASF product range ® Early marketing program on ‘Roundup’ ® Strong sales growth in Asian markets 2004 2005
Slide 9: Americas
Americas ® Excellent support from US distribution ® Growth in both ag and turf/ specialty sectors ® Strong phenoxy sales in Brazil 200 150 100 2004 2005
Slide 10: Brazil sales growth and fungicides
ANNI Wei AON AMM 41% 80% sales growth 2003 — 2004 Rust in soybeans drives strong fungicide sales Balanced portfolio and expanded product range R$352m R$588m Herbicides @insecticides [Fungicides [Other
Slide 11: Europe
nal re ie Europe = Siow start to season due to late winter ® Encouraging signs in France = UK branded saies show strong growth = Methyis manufacturing assets review completed Sales 2004 2005 6 months to January 31
Slide 12: Industrial Chemicals
Industrial Chemicals 200 ® Specialty Products business sold 150 = SEAC divestment progressing 100 50 ® Chior alkali plants slightly down half on half 2004 2005 Gm Sales —-@—Segment Profit 6 months to January 31
Slide 13: Kevin Martin, Chief Financial Officer
i Kevin Martin Chief Financial Officer
Slide 14: Profit movement reconciliation
san i) Loss at January, 2004 (1.9) Improvement in Crop Protection 11.5 Deterioration in Industrials (0.8) Non operating items 1.3 Agripec 18.2 28.3
Slide 15: Non operating items
san i) = Profit on sale of businesses 23.5 - Nufarm Specialty Products - Biological Wool Harvesting = Methyls fixed asset restructure (14.2) = Intangible asset review (3.4) = Other (1.0) 4.9 Tax on above (3.6) 1.3
Slide 16: Forecast full year 2005
AN) MN ee Original Projected First forecast forecast half fullyear 2005 full year 2005 Operating profit 25.9 40.6 42.2 Goodwill (4.0) (7.7) (8.0) Interest (0.3) (12.0) (5.3) Profit before tax 21.6 20.9 28.9 « Tax (3.4) (8.6) (5.9) Profit after tax 18.2 12.3 23.0
Slide 17: Receivables, inventory and payables
Receivables Inventory Payables - Operating Payable BASF 511.8 791.3 (350.1) 441.2 441.2 Difference 304.1 (24.6) 429.1 82.7 733.2 58.1 (302.2) (47.9) 431.0 10.2 68.6 68.6 362.4 78.8
Slide 18: : ae | i
: ae | i At January 31, 2005 126% At January 31, 2004 113% Original guidance for year end 75% - this will be comfortably met
Slide 19: Guidance
Guidance Doug Rathbone Managing Director
Slide 20: Outlook
t fi * Solid start to key selling period # Sales growth expected in USA and most European markets sd Revised forecast contribution from Agripec
Slide 21: Previous and revised guidance
12 months net profit ‘04 less contribution from Specialty Products / SEAC plus 10% growth (estimate only) plus Agripec (estimate only) Operating tax paid profit (excluding non operating items) Previous guidance 76.2 (6) 70.2 77.2 12 89.2 Revised guidance 76.2 (5) 71.2 78.3 23 101.3
Slide 22: NN:
NN: