Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — 9M 2014 Earnings Presentation
24 slides from Golden Agri-resources's earnings presentation, Nov 12, 2014
Slide 1: Golden Agri-Resources Ltd Interim Performance Presentation
Golden Agri-Resources Ltd Interim Performance Presentation YTD Sep 2014 : nine-month period ended 30th September 2014 12 November 2014 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: Contents
Contents 1 Executive Summary 3 2 Financial Highlights 5 3 Plantation Highlights 11 4 Downstream Highlights 15 5 Strategy and Outlook 17 6 Appendix 21 2
Slide 4: Executive Summary
1 Executive Summary ~~ gar agribusiness and food
Slide 5: Executive Summary
Executive Summary Achieved record upstream output and 3Q 2014 downstream results showing improvement EBITDA (US$ million) 450 442 • YTD Sep 2014 vs YTD Sep 2013 results 400 Revenue $5,797 mn 24% 347 EBITDA $431 mn 7% 350 Net Profit1 $135 mn 28% 300 Palm product output 2.23 mn MT 14% 250 CPO FOB pric
Slide 6: Financial Highlights
2. Financial Highlights gar agribusiness and food
Slide 7: Consolidated Financial Performance
Consolidated Financial Performance US$ million 9M 2014 9M 2013 YoY 3Q 2014 3Q 2013 YoY Revenue 5,797 4,683 24% 1,844 1,571 17% Gross Profit 1,013 938 8% 283 277 2% EBITDA 431 462 -7% 100 111 -9% Interest on borrowings -88 -73 21% -31 -26 16% Depreciation and amortisation -110 -99 11% -38 -35 8% Fore
Slide 8: Segmental Revenue
Segmental Revenue US$ million 9M 2014 9M 2013 YoY 3Q 2014 3Q 2013 YoY Plantations and palm oil mills1 1,469 1,221 20% 451 420 7% Volume (‘000 tonnes) 2,153 1,876 15% 727 645 13% Palm and lauric2 4,902 3,674 33% 1,523 1,276 19% Volume (‘000 tonnes) 5,948 4,767 25% 1,928 1,663 16% Oilseeds3 670 798 -1
Slide 9: Segmental EBITDA
Segmental EBITDA US$ million 9M 2014 9M 2013 YoY 3Q 2014 3Q 2013 YoY Plantations and palm oil mills1 441.6 347.5 27% 110.2 114.6 -4% Margin 30% 28% 2% 24% 27% -3% Palm and lauric2 46.9 96.6 -51% 6.8 -7.8 n.m Margin 1% 3% -2% 0.4% -0.6% 1% Oilseeds3 -61.4 8.4 n.m -18.0 1.6 n.m Margin -9% 1% -10% -7%
Slide 10: Financial Position
Financial Position Balance sheet fundamentals remain strong with ample liquidity and prudent gearing (in US$ million) 30-Sep-14 31-Dec-13 Change Total Assets 14,468 14,148 2.3% Cash and Short-Term Investments 476 587 -19.0% Trade Receivables and Inventories 1,297 1,246 4.1% Fixed Assets1 10,434 10,3
Slide 11: Dividend
Dividend The Board approves to distribute interim dividend of 0.408 Singapore cents per share, 30% of our underlying profit for YTD Sep 2014 Interim 2010 2011 2012 2013 2014 Cash Dividend Dividend per share (in S$ cents) 0.770 1.840 1.190 1.100 0.408 Total Dividend (in S$ million) 93.47 223.35 152.7
Slide 12: Plantation Highlights
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Slide 13: Plantation Area
Plantation Area GAR’s oil palm plantations continue to be leading in scale and operational excellence Mature Area - ha Planted Area - ha 471,536 471,100 441,334 430,711 100,755 99,998 95,799 92,221 345,535 338,490 370,781 371,102 30‐Sep‐14 31‐Dec‐13 30‐Sep‐14 31‐Dec‐13 Nucleus Plasma Nucleus Plasma
Slide 14: Planted Area Age Profile
Planted Area Age Profile GAR’s long-term growth is supported by favourable age profile of its plantations Hectarage as of 30 Sep 2014 Hectarage as of 31 Dec 2013 5% 6% 4% 9% 22,286 14% 20,282 23% 17% 29% 30,201 40,389 137,558 65,746 107,079 79,912 215,745 223,438 46% 47% Notes: 1. Total planted area
Slide 15: Production Performance
Production Performance Production continued to show significant growth year-on-year 9M 2014 9M 2013 Change 3Q 2014 3Q 2013 Change FFB Production (‘000 tonnes) 7,327 6,410 14% 2,593 2,293 13% Nucleus 5,683 4,991 14% 1,968 1,768 11% Plasma 1,644 1,419 16% 625 525 19% FFB Yield (tonnes/ha) 16.6 14.9 12
Slide 16: Downstream Highlights
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Slide 17: Downstream Highlights – YTD Sep 2014
Downstream Highlights – YTD Sep 2014 Sourcing of Product Sales and raw materials Processing customisation distribution • Almost six million • Full utilisation of all • Sales of palm • Destination sales grew tonnes of palm our refineries in based refined by 57% year-on-year, based products Indonesia
Slide 18: Strategy and Outlook
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Slide 19: Strategic Priorities
Strategic Priorities Build on core competitive strengths and leverage scale to maximize long-term shareholder returns Objective: Sustained Growth and Profitability Upstream Downstream Sustain cost Optimise Grow Shift product To stay leadership value destination mix to higher throughout business valu
Slide 20: Holistic Approach to Sustainability
Holistic Approach to Sustainability We believe that multi-stakeholder collaboration is the best way to find solutions for sustainable palm oil production to conserve the forests, create much needed employment and ensure long-term sustainable growth of the palm oil industry which is a vital part of t
Slide 21: Growth Strategy and Outlook
Growth Strategy and Outlook GAR continues to expand its operation capabilities to capitalise on the robust long-term industry outlook, best-in-class plantation management and solid financial position Upstream • Expanding palm oil plantations by 20,000-30,000 hectares through organic growth and acqui
Slide 22: Appendix
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Slide 23: Age Profile
Age Profile The average age of GAR’s plantations is 14 years, securing the long-term growth of its production Immature Young Prime 1 Prime 2 Old Total (in ha) (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) 30 September 2014 Nucleus 25,246 54,131 175,314 93,804 22,286 370,781 Plasma 4
Slide 24: Contact Us
Contact Us If you need further information, please contact: Golden Agri-Resources Ltd c/o 108 Pasir Panjang Road #06-00 Golden Agri Plaza Singapore 118535 Telephone : +65 65900800 Facsimile : +65 65900887 www.goldenagri.com.sg Contact Person : Richard Fung richard@goldenagri.com.sg 23
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