Select Harvests Limited · ASX:SHV

Select Harvests — FY2004 Earnings Presentation

26 slides from Select Harvests's earnings presentation, Aug 25, 2004

  1. Slide 1: Results Presentation Year Ended 30 June 2004

    A SELECT HARVESTS collaboration deliv Results Presentation Year Ended 30 June 2004

  2. Slide 2: Financial Results Year Ended 30 June 2004

    A SELECT HARVESTS PIN BMCIAL RESULTS YEAR ENDED 206.2004 2003 $000 2004 #039;000 80,994 127,380 18,551 25,249 17,421 23,837 10,962 15,225 o Earnings per Share 31.3 cents 40.0 cents Dividend (Total) 18.5 cents 26.0 cents

  3. Slide 3: Balance sheet

    Current Assets Non Current Assets Total Assets 106,955 | Current Liabilities 18,120 Borrowings 8,080 Non Current Liabilities 1,487 Total Liabilities 27,687 TOTAL EQUITY 79,268 Return on Equity 19.2% Debt to Equity 10.2%

  4. Slide 4: Earnings History: EBIT and Net Profit After Tax

    SELECT HARVESTS EARNINGS BEFORE INTEREST AND TAX NET PROFIT AFTER TAX INGS HISTOR Earnings Before Interest and Tax Net Profit After Tax $ millions 48.0©§ $ millions 15.2 eee 23.8 15.0 1.0 oa 12.0 18.0 37% 15.0 oo 12.0 9.0 7. 50 oc 4.2 —_ ar 3.0 i 0.0 3.0

  5. Slide 5: Earnings History: Dividend and Earnings per Share

    BSE eA EARNINGS HISTOR SELECT HARVESTS DIVIDEND PER ORDINARY SHARE EARNINGS PER SHARE Dividend Per Ordinary Share Net Profit After Tax cents 30 cents 26.0 18.0 25 15.0 12.0 9.0 6.0 3.0 0.0 99 00 Of 02 038 04 99 00 O1 02 03 04

  6. Slide 6: Select Harvests Share Price Movement

    A SELECT HARVESTS SCARE PRICE MOV EIME $8.00 7 Current $7.50 + 7,30 $7.00 + $6.50 J 6.00 4 30 June 03 $5.50 4.80 8 $5.00 - 6.67 & $4.50 4 » $4.00 | & $3.50 4 & $3.00 - hye $2.50 4 tence $2.00 4 UL.63 7 $150 hw $1.00 + $0.50 + $0.00 T T T T T T T T T T T T = - - al N 2's 58 $ § 8 88 88 8 5 @ 8 s 5 2

  7. Slide 7: Acres owned and managed

    30-=<-9 2503—p 11570 acres (83%) (17%) FE] Owned @ Managed

  8. Slide 8: Select Harvests in 2003 and 2004

    S. SELECT HARVESTS SELECT HARVESTS IN 2003 EBIT $17.4 Million BUSINESS Mi SELECT HARVESTS IN 2004 EBIT $23.8 Million 6% fa Pesticide Products Almond Orchards O Management Services O Food Products 39% 3% 34% 4 Pesticide Products: @ Almond Orchards O Management Services O Food Products Sales $81.0 Mil

  9. Slide 9: Profit Drivers

    AA PROFIT DRIVER SELECT HARVESTS * Strong fundamentals of the International Almond Market + Growth of the Food Products division by acquisition of Meriram Group and continued market growth.

  10. Slide 10: A ow a ia y a a a wn

    A ow a ia y a a a wn

  11. Slide 11: World Almond Consumption

    A WORLD ALMOND CONSUMPTIO SELECT HARVESTS 1500 = 1000 f= 2 = 500 E 1995 | 1996 | 1997 | 1998 1999) 2000) 2001 | 2002 | 2003 2004| Estimate =—=World Supply 714 | 758 |1021) 779 1123) 1093) 1150) 1387 | 1300 1335 —Consumption 621) 710 | 849 | 687 918 | 966 | 1069) 1217/1180 1225 m= (CarryOutDays| 55 |

  12. Slide 12: SELECT HARVESTS

    S. SELECT HARVESTS 1024 982 1200 1000 T Q 2 Q ea) wo (sq) UON 400 — 200 + 2001 2002 2003 1999 2000 1996 1997 1998 1995

  13. Slide 13: USA Almond Crop Acreage

    Number of Acres A SELECT HARVESTS USA ALMOND CROP ~A, 160000 140000 + 120000 f 100000 | 80000 60000 + 40000 20000 0 140 (23%) 211 (34%) 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 0 Annual plantings CAAS Almond Acreage Report 10 May, 2004 123 4

  14. Slide 14: Bearing Acres and Production

    2 EB sn Aness BEARING AGREES (PRODUCTION: 1200000 1000000 a 800000 2 ei Ibs/ Acre A _A/ 600000 A o$oeF 400000 - ery C 3 oe 200000 0 T T T T T T T T T T T T T T T T T T T T T T @ bearing —s— production/crop

  15. Slide 15: USA Almond Crop

    IND CROP SELECT HARVESTS 1063 1040 Estimate Million Ibs

  16. Slide 16: USA Almond Crop Supply and Demand

    2 span ors USA ALMOND CHOP — SUPPLY AND DEMAND 800 : Lm (million lbs) 3 oO 93 94 95 96 97 98 99 0 1 2 3 4 5 6 production «ae hearing acres shipments

  17. Slide 17: Increasing Nut Consumption: International

    z AN INCHEASING NUT CONSUMPTIO SELECT HARVESTS INTERNATIONAL Most consuming countries are reporting consumption growth Firming prices for all tree nuts indicates strong demand USA 2003 almond shipments up 4.3% USA domestic consumption of almonds increasing Growing awareness of health benefits

  18. Slide 18: Increasing Nut Consumption: Australia

    Ln INGRERSING NUT CONSUMPTIO SELECT HARVESTS AUSTRALIA « Evidence of a move towards “natural whole foods” and increased snacking of natural nut products * Cooking category in supermarkets has transformed to natural ingredients and snacking * This category grew by 11.8% in 12 months to July 04 agains

  19. Slide 19: Nutritional benefits of almonds

    SACI PACS 30 grams of Almonds provides 1é4 CALGRIES G GRAMS CARBOHYDRATES: 14 GRAMS TOTAL FAT 6 GRAMS PROTEIN lof that, @ grams fa good source) monounsaturated Faff. 3 GRAMS FIBER (a good source] Me CHOLESTERSL 6% DAIL WALUE CA LCIUAG 5% DAILY WALUE VITARAIEL E fon excellent source) 20% DAILY Wa LUE

  20. Slide 20: yo y Dy ce y

    yo y Dy ce y Bee Ze e i ee EES Vo ee Hee

  21. Slide 21: Growth by division

    $’000 GROWTH _| almond _ | Orchards 4 14% _ | Management _| Services 4 55% _ | Food Products ‘ 48% t Pesticides |, 15% : Sub Total 19,270 25,829 4 34% L Corporate (1,849) (1,992) Total 17,421 23,837 4 37%

  22. Slide 22: Almond Orchards

    2 AA ALMOND ORCHARD. SELECT HARVESTS EBIT FY 2004 - $8.804m EBIT FY 2003 - $7.687m ; 14% « Average almond price per kg up 7.5% on previous year « Per kg costs down 1% on previous year * 2004 crop up by 5% on the previous year + International prices increased over the year despite a large USA crop «

  23. Slide 23: Management Services

    2 La, MANAGEMENT SEPYIG SELECT HARVESTS EBIT FY 2004 - $9.460m EBIT FY 2003 - $6.099m @ 55% * 3500 acres of new investor owned orchards planted in 2004 compared with 2780 acres in 2003 Increase in establishment fees Increase in recurring fee income -Larger area under management - Increase in investo

  24. Slide 24: Food Products

    2 a FOOD PRODUCT SELECT HARVESTS EBITA FY 2004 - $8.225m EBITA FY 2003 - $5.728m ¢ 44% EBIT FY 2004 - $6.813m EBIT FY 2003 - $4.598m + 48% Sales up for the year by 73% for the year Full year earnings from Meriram Group — achieved earnings target Increased market share in branded cooking and cereal/m

  25. Slide 25: Pesticide Products

    4 SELECT HARVESTS EBIT FY 2004 - $0.752m EBIT FY 2003 - $0.886m v 15% « Result impacted by: -high wheat prices -lower snail bait sales « Expect to benefit from lower wheat prices * Targeting specific operational improvements and cost saving initiatives + Investigating opportunities to secure additio

  26. Slide 26: Outlook

    A SELECT HARVESTS « Increasing nut consumption in both domestic and international markets Strong fundamentals in international almond market Almond prices at 7 year high Almonds established as a sound horticultural investment Planning 3,500 acres of new almond projects in 2005 Crop forecast to incre

Select Harvests — FY2004 Earnings Presentation on 6ix