Rusagro Group · RUS:RAGR
Rusagro — Ros Agro — Investor Presentation (March 2021)
31 slides from Rusagro's investor presentation, Mar 15, 2021
Slide 1: Investor Presentation
INVESTOR PRESENTATION ROS AGRO PLC 15 March 2021 20 November 2018
Slide 2: Disclaimer
DISCLAIMER IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by ROS AGRO PLC (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the oral pre
Slide 3: Ros Agro Overview
ROS AGRO OVERVIEW WZ ROS AGRO "ith =~PLC
Slide 4: Business Overview
BUSINESS OVERVIEW RUSAGRO IS A LEADING AGRICULTURAL COMPANY IN RUSSIA WITH A 25-YEARS HISTORY AND CONTINUED GROWTH HIGHLIGHTS 2020 KEY GROWTH DRIVERS SALES Adj. EBITDA 159 RUB billion 32 RUB billion 1 Vertically integrated and diversified 2 State-of-the-art facilities with strategically 3 Strong bra
Slide 5: Financial Results Overview
FINANCIAL RESULTS OVERVIEW ROS AGRO HAS ACHIVED SIGNIFICANT GROWTH OVER THE LAST 5 YEARS KEY PERFORMANCE INDICATORS1 CONSOLIDATED SALES ADJ. EBITDA & NET PROFIT RUB billion RUB billion ~2x Adj. EBITDA margin 22% 18% 19% 14% 20% +15% Net profit margin 17% 7% 15% 7% 15% 159.0 138.2 +2x +65% 32.0 84.3
Slide 6: Net Revenue, Adjusted EBITDA: 4Q 2020 vs 4Q 2019
NET REVENUE, ADJUSTED EBITDA: 4Q 2020 VS 4Q 2019 NET REVENUE (IFRS) Q4 2020 VS Q4 2019 RUB million Net Revenue increased by RR 11,112 million (+28%): +28% 6 411 decreased by RR 919 million (-12%) due to sugar sales (19) volume reduction, which was offset by the price growth 50 209 8 793 (5,202) incr
Slide 7: Net Revenue, Adjusted EBITDA: 12M 2020 vs 12M 2019
NET REVENUE, ADJUSTED EBITDA: 12M 2020 VS 12M 2019 NET REVENUE (IFRS) 12M 2020 VS 12M 2019 RUB million +15% Net Revenue increased by RR 20,799 million (15%): 13 785 decreased by RR 3,082 million (-10%) due to sugar 158 971 (83) sales volume reduction, partially compensated by price 8 503 (4,925) inc
Slide 8: Cash Flows: 12M 2020 vs 12M 2019
CASH FLOWS: 12M 2020 VS 12M 2019 CASH FLOWS ACCORDING TO MANAGEMENT VIEW (NOT IFRS PRESENTATION)2 COMMENTS RUB million Net cash from operating activities: Variances • Decrease of changes in working capital (RR -19,697 million) mainly as the result of variation in Actual Actual 12M 2020 12M 2019 Unit
Slide 9: Debt Profile (as of 31 December 2020)
DEBT PROFILE (AS OF 31 DECEMBER 2020) DEBT POSITION AND LIQUIDITY MANAGEMENT 31 Dec Variance • Gross debt increased by RR 17,053 million (+17%) up to RR 114,929 in RR million 31 Dec 19 2020 Units % million • Net debt increased by RR 7,160 million (+12%) to RR 68,900 million Gross debt 114,929 97,876
Slide 10: 4Q 2020 and 12M 2020 Performance: Business Overview by Division
4Q 2020 AND 12M 2020 PERFORMANCE Business Overview by division
Slide 11: Agriculture Russian Market Overview
AGRICULTURE RUSSIAN MARKET OVERVIEW CROPS HARVEST TOP-5 LANDHOLDERS Million tonnes Million hectares LANDHOLDER • In the 2020/2021 season the harvest of main IN RUSSIA crops dropped by 7% due sugar beet gross yield Grains Sugar beet Oil crops № IN MAY 2020 decrease by 40%. Meanwhile, main grains (whe
Slide 12: Agriculture Key Financing and Operating Indicators
AGRICULTURE KEY FINANCING AND OPERATING INDICATORS SALES, ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN RUB million 4Q 2020 Sales (RR +8,793 million, +81%): • RR +8,208 million of an increase in sales price of sugar beet, wheat, soybean and 18% 52% 23% 44% sunflower 34,348 • RR -1,400 million of a decr
Slide 13: Oil&Fat Russian Market
OIL&FAT RUSSIAN MARKET CRUDE VEGETABLE OIL PRODUCTION CONSUMER OIL AND FATS PRODUCTION Million tonnes Million tonnes • In the 2019/2020 season, the production of Packaged margarines & spreads Soy oil Other oil Total vegetable oil increased by 17% and reached 7.3 Mayonnaise million tonnes. The main g
Slide 14: Oil&Fat Russian Market – Key Players
OIL&FAT RUSSIAN MARKET – KEY PLAYERS IN 2019 RUSAGRO IMPROVED ITS POSITIONS ACROSS ITS ALL OIL-AND-FAT PRODUCTS AND ACHIEVED LEADING POSITIONS IN FOUR OUT OF FIVE PRODUCT CATEGORIES CRUDE SUNFLOWER OIL PRODUCERS INDUSTRIAL FATS PRODUCERS IN RUSSIA IN 2019/2020 SEASON IN RUSSIA IN 2020 % of crude sun
Slide 15: Oil & Fats Key Financing and Operating Indicators
OIL & FATS KEY FINANCING AND OPERATING INDICATORS SALES, ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN RUB million Q4 2020 Sales (RR +6,411million, +36%): • Higher sales prices for all products and increase in sales volume of industrial fats, thanks 11% 8% 5% 12% to regained market share during 2H 2019
Slide 16: Meat Russian Market Overview
MEAT RUSSIAN MARKET OVERVIEW PORK PRODUCTION PORK PRODUCERS IN RUSSIA IN 2020 Slaughtered weight, million tonnes % of pork produced in Russia • In 2020, Russia increased production of pork PRODUCER by 9% to 4.3 million tonnes in slaughtered Farms enterprises & private farms № IN RUSSIA IN 2020 Agric
Slide 17: Meat Key Financing and Operating Indicators
MEAT KEY FINANCING AND OPERATING INDICATORS SALES, ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN RUB million Q4 2020 Sales (RR +2,050 million, +27%): 17% 16% 19% 20% • Sales increase impact by main factors: increase in sales volumes 32,434 RR +1,293 million, price growth RR +782 million • Increase in s
Slide 18: Sugar Russian Market
SUGAR RUSSIAN MARKET SUGAR PRODUCTION SUGAR PRODUCERS IN RUSSIA IN 2020 Million tonnes Million tonnes PRODUCER • In 2020, the gross harvest of sugar beet in № IN RUSSIA IN 2020 Russia sank by 40% year-on-year, which -20% led to sugar production decrease by 20% (-1.5 mn tonnes) – to 5.7 million tonne
Slide 19: Sugar Key Financing and Operating Indicators
SUGAR KEY FINANCING AND OPERATING INDICATORS SALES, ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN RUB million Q4 2020 Sales (RR -919 million, -12%): 19% 19% 13% 23% • Sugar sales decreased mainly due to sales volume reduction of 52% (RR -3,403 million); 31,195 28,113 • Quarterly sales volumes decreased
Slide 20: Rusagro 2021 Outlook
RUSAGRO 2021 OUTLOOK WZ ROS AGRO "ith =~PLC
Slide 21: Prices in 2021 and Market Regulation
PRICES IN 2021 AND MARKET REGULATION SUGAR PRICE WHEAT PRICE SUNFLOWER SEEDS PRICE PORK PRICE ISCO-Krasnodar basis, RUB/kg excl. VAT CPT basis, RUB/kg excl. VAT CPT basis, RUB/kg excl. VAT Livestock, RUB/kg excl. VAT 47 40 44 103 38 14 15 101 101 35 40 40 96 97 33 38 96 13 13 38 13 90 14 26 28 34 12
Slide 22: Construction of New Pig Farms in the Primorye Territory Project
CONSTRUCTION OF NEW PIG FARMS IN THE PRIMORYE TERRITORY PROJECT Overview Status update 75 kt of pork in live weight Construction in progress production capacity Elevator complex launched Start of sows and boars supply 33 RUB bn project first stage construction cost1 Timeline: • 2016-2022 const
Slide 23: Additional Information
ADDITIONAL INFORMATION WZ ROS AGRO "ith =~PLC
Slide 24: Statement of Comprehensive Income (IFRS)
STATEMENT OF COMPREHENSIVE INCOME (IFRS) ROS AGRO PLC RR million Varianсes Varianсes Description Actual 12M 2020 Actual 12M 2019 Q4 2020 Q4 2019 Units % Units % Sales 158,971 138,172 20,799 15 50,209 39,096 11,113 28 Net gain / (loss) on revaluation of biological assets and 5,890 (4,112) 10,002 243
Slide 25: Adjusted EBITDA 12M 2020 (IFRS) Breakdown by Divisions
ADJUSTED EBITDA 12M 2020 (IFRS) BREAKDOWN BY DIVISIONS ROS AGRO PLC RR million Twelve months ended 31 December 2020 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 28,113 32,434 34,348 76,160 4,417 (16,501) 158,971 Net gain / (loss) on revaluation of biological assets and - (681) 3,
Slide 26: Adjusted EBITDA 12M 2019 (IFRS) Breakdown by Divisions
ADJUSTED EBITDA 12M 2019 (IFRS) BREAKDOWN BY DIVISIONS ROS AGRO PLC RR million Twelve months ended 31 Decemberr 2019 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 31,195 25,834 25,845 62,375 4,170 (11,245) 138,172 Net gain/ (loss) on revaluation of biological assets and agricultur
Slide 27: Statement of Cash Flows According to Management View
STATEMENT OF CASH FLOWS ACCORDING TO MANAGEMENT VIEW (NOT IFRS PRESENTATION) ROS AGRO PLC RR million Variances Actual Actual 12M 2020 12M 2019 Units % Cash flows from operating activities Profit before income tax 24 323 10 444 13 879 133 Adjustments for non-cash and non-operating (income)/expenses,
Slide 28: Statement of Cash Flows According to Management View – Continuance
STATEMENT OF CASH FLOWS ACCORDING TO MANAGEMENT VIEW (NOT IFRS PRESENTATION) – CONTINUANCE ROS AGRO PLC RR million Actual Actual Variances 12M 2020 12M 2019 Units % Cash flows from investing activities - Purchases of property, plant and equipment (12 405) (15 057) 2 651 18 Purchases of other intangi
Slide 29: Statement of Financial Position (IFRS)
STATEMENT OF FINANCIAL POSITION (IFRS) ROS AGRO PLC RR million 31 December 31 December Variances 2020 2019 Units % ASSETS 276,149 239,495 36,654 15 Current assets Cash and cash equivalents 11,867 2,171 9,696 447 Restricted cash 144 0 144 368,200 Short-term investments 19,584 23,457 (3,873) (17) Trad
Slide 30: Statement of Financial Position (IFRS) – Continuance
STATEMENT OF FINANCIAL POSITION (IFRS) – CONTINUANCE ROS AGRO PLC RR million 31 December 31 December Variances 2020 2019 Units % Liabilities and EQUITY 276,149 239,495 36,654 15 Current liabilities Short-term borrowings 51,753 31,835 19,919 63 Lease liabilities 944 917 27 3 Trade and other payables
Slide 31: Contacts
CONTACTS Svetlana Kuznetsova IR & ESG Director E-mail: IR@rusagrogroup.ru Tel.: +7 (495) 363-1661 www.rusagrogroup.ru/eng 31