Kernel Holding S.a. · GPW:KER
Kernel — Q1 FY2014 Earnings Presentation
12 slides from Kernel's earnings presentation, November 2013
Slide 1: Q1 FY2014 Financial Results Presentation
Q1 FY2014 FINANCIAL RESULTS PRESENTATION Kernel Holding S.A. and Subsidiaries
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of th
Slide 3: Q1 FY2014 results highlights
Q1 FY2014 results highlights Key highlights Operating profit before working capital changes was USD 11.9 million in Q1 FY2014 versus USD 91.7 million in Q1 FY2013, higher than EBITDA due to a non-cash loss EBITDA of USD 3.0 million in Q1 FY2014, down from USD 74.8 million in Q1 FY2013, from chan
Slide 4: Q1 FY2014 financial highlights
Q1 FY2014 financial highlights Amounts in USD million, except for EPS and ratios Q1 FY2014 Q1 FY2013 % change Revenue 412.9 515.9 (20.0%) EBITDA (1) 3.0 74.8 (96.0%) Net profit attributable to equity holders of Kernel Holding S.A. (33.8) 36.8 n/m EBITDA margin 0.7% 14.5% (13.8pp) Net margin (8.2%) 7
Slide 5: Segment results summary
Segment results summary Revenue(1), USD million EBITDA, USD million EBITDA margin, % Q1 FY2014 Q1 FY2013 % change Q1 FY2014 Q1 FY2013 % change Q1 FY2014 Q1 FY2013 Bottled oil 33.4 43.6 (23.4%) 3.7 7.5 (50.0%) 11.2% 17.1% Bulk oil 116.5 291.7 (60.1%) 0.8 38.1 (98.0%) 0.7% 13.1% Export terminal 7.2 13
Slide 6: Bulk and bottled oil segments performance
Bulk and bottled oil segments performance Bulk oil segment Sunflower seed crush, tons The below average sunflower seed harvest in 2012/13 resulted in the low availability 800 000 of sunflower seed at the end of the marketing year and downwardly affected crushing 700 000 plant utilization in the se
Slide 7: Grain, silo and export terminals segments performance
Grain, silo and export terminals segments performance Grain segment Grain sales, tons Grain sales increased 73.6% y-o-y to 884,701 tons in Q1 FY2014, a record volume for the first 1 200 000 FY2012 FY2013 FY2014 quarter. While Ukrainian farmers were reluctant to sell their crops at the rate that th
Slide 8: Farming segment performance
Farming segment performance Farming segment Crop yields, t/ha(1), net First quarter sales in the farming segment consisted primarily of wheat (9% of total 8.0 7.1 acreage) and minor volumes of other crops, while the company’s major crops are har- 7.0 vested mostly during the second quarter. Overal
Slide 9: Balance sheet highlights
Balance sheet highlights Amounts in USD millions 30 September 2013 30 September 2012 Invested Capital Cash & cash equivalents 77.7 133.4 Net trade accounts receivable 139.4 149.6 Inventory 327.6 721.4 of which: readily marketable inventories 276.3 684.5 Biological assets 209.9 78.5 Other currents as
Slide 10: Cash flow highlights
Cash flow highlights Amounts in USD millions Q1 FY2014 Q1 FY2013 Operating profit before working capital changes 11.9 91.7 Changes in working capital (15.8) (249.6) Cash obtained from/ (used in) operations (3.9) (157.9) Finance costs paid (13.0) (15.4) Income tax paid (18.7) (8.9) Net cash obtained
Slide 11: Liquidity position & credit metrics
Liquidity position & credit metrics Amounts in USD millions, except ratios 30 September 2013 30 September 2012 Gross interest-bearing debt 789.5 1,046.2 Cash 77.7 133.4 Net interest-bearing debt 711.8 912.8 Readily marketable inventories 276.3 684.5 Adjusted net financial debt(1) 435.5 228.3 Shareho
Slide 12: IR contact
IR contact • Yuriy Kovalchuk Investor Relations Director investor_relations@kernel.ua • Yegor Samusenko Investor Relations Manager y.samusenko@kernel.ua Tel.: (+38-044) 461-88-01 Q1 FY2014 12