Slide 1: Camellia Plc Results Presentation H1 2017
CAMELLIA PLC RESULTS PRESENTATION H1 2017 7 September 2017
Slide 2: Agenda
AGENDA OVERVIEW OF H1 2017 KEY FINANCIAL METRICS DIVISIONAL TRADING UPDATES STRATEGY UPDATE APPENDICES 2
Slide 3: Overview of H1 2017
OVERVIEW OF H1 2017 Results reflect more normal seasonal bias after an unusually strong H1 2016. H1 2017 Agriculture sales significantly increased as a result of changes in exchange rates Majority of our profits in Agriculture are made in the 2nd half of the year. H1 2017 impacted by low tea prices
Slide 4: Key Financial Metrics
KEY FINANCIAL METRICS Sales for continuing operations of £123.6m (H1 2016: £100.1m) – c.90% sales originate outside continental EU and we benefited from translation effect of weaker Sterling rates Profit before tax for continuing operations of £1.9m (H1 2016: £6.8m) Profit from discontinued operatio
Slide 5: Agriculture: Tea and Macadamia
AGRICULTURE Tea Oversupply carried over in 2017 in India and Bangladesh and this has led to a fall in tea prices in those markets Dry conditions in Kenya resulted in reduced production volumes and higher prices Malawi experienced higher production and higher prices following last year’s drought Maca
Slide 6: Agriculture: Avocado and Speciality
AGRICULTURE Avocado Dry conditions earlier in the season are expected to result in smaller fruit size At this stage we expect a harvest similar to last year Demand for quality fruit continues to grow and prices remain very strong Speciality Lower rubber production due to wet weather but prices have
Slide 7: Non-agricultural divisions: Engineering, Food Service, Associates
Non-agricultural divisions ENGINEERING Key operations are A JT Engineering and Amfin/Atfin A JT – low oil price continuing to impact trading but diversified into hydro sector with some early success Amfin/Atfin – continue to grow and trade strongly FOOD SERVICE Key operation is ACS&T (UK cold storag
Slide 8: Trading Profit/(Loss) H1 2017
CONTINUING OPERATIONS Trading Profit/ (Loss) Revenue Revenue Trading Profit/ H1 2017 H1 2016 (Loss) £’m £’m H1 2017 H1 2016 £’m £’m Agriculture 96.1 75.1 1.5 7.3 Food Service 17.8 14.7 1.2 0.1 Engineering 9.5 10.1 (1.6) (0.9) H1 2017 H1 2016 Associates Share of profit after tax 3.7 2.6 June 17 June
Slide 9: Strategy
STRATEGY Main points of strategy continue to be: Transforming core crops into global businesses Investing to capture more of the value chain Diversifying geographically Investing in the long term sustainability of our estates Enhanced net cash resources provide ample opportunity for value adding inv
Slide 10: Questions?
QUESTIONS? ee @) CAMELLIA PLC 10
Slide 11: Income Statement
INCOME STATEMENT £’m H1 2017 H1 2016 Continuing operations: Revenue 123.6 100.1 Gross Profit 21.5 23.6 Trading Profit (2.8) 2.3 Profit before Tax 1.9 6.8 Tax (1.4) (2.5) Profit for the year from continuing operations 0.5 4.3 Profit/(loss) from discontinued operation 15.8 (1.9) Profit/(loss) for the
Slide 12: Balance Sheet - Assets
BALANCE SHEET - ASSETS £’m June 2017 June 2016 Non-current assets Intangible assets 1.0 1.2 PPE and other non-current assets 227.0 223.7 Investment properties 17.9 16.0 Biological assets 12.8 12.6 Investment in associates (incl BF&M) 59.6 55.5 Available for sale financial assets 41.3 33.2 Heritage a
Slide 13: Balance Sheet - Liabilities
BALANCE SHEET - LIABILITIES £’m June 2017 June 2016 Current liabilities Borrowings (3.9) (2.3) Trade and other payables (67.7) (55.4) Tax, pensions and other (8.3) (9.2) Non-current liabilities Borrowings (4.3) (4.8) Trade and other payables - (4.2) Deferred tax (39.3) (38.3) Employee benefit (50.0)
Slide 14: Cash Flow
CASH FLOW £’m H1 2017 H1 2016 Cash generated from operations (0.1) 0.2 Tax, interest paid and dividends received (0.6) (4.8) Net cash flow from operations (0.7) (4.6) Net cash flow from investing activities (7.0) (6.7) Net cash flow from financing activities (1.3) (1.8) Net increase in cash and cash