Slide 1: Interim Performance Presentation
Interim Performance Presentation 1H 2011 : first half period ended 30th June 2011 11 August 2011 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: Table of Contents
Table of Contents Section 1 Executive Summary 3 Section 2 Financial Highlights 5 Section 3 Plantation Highlights 10 Section 4 Downstream Highlights 15 Section 5 Growth Strategy 18 2
Slide 4: Executive Summary
ok agribusiness and food Section 1 Executive Summary
Slide 5: Executive Summary
Executive Summary Record first half performance with palm products output at historical high and robust CPO prices Price (US$/MT) EBITDA (US$ million) Output (‘000 MT) • Outstanding 1H 2011 performance 575 1,400 Revenue $3,064 mn 127% 525 EBITDA $561 mn 115% 475 1,200 Net Profit1 $411 mn 166% 425 Pa
Slide 6: Financial Highlights
Section 2 Financial Highlights
Slide 7: Financial Performance – 1H 2011
Financial Performance – 1H 2011 US$ million 1H 2011 1H 2010 Change Revenue 3,064 1,351 127% Gross Profit 1,029 342 201% EBITDA 561 261 115% Interest on borrowings -30 -21 47% Depreciation and amortisation -44 -42 6% Foreign exchange gain/(loss), net 38 15 155% Net Profit attributable to owners of th
Slide 8: Financial Summary – 2Q 2011
Financial Summary – 2Q 2011 US$ million 2Q 2011 2Q 2010 YoY 1Q 2011 QoQ Change Change Revenue 1,601 726 120% 1,463 9% Gross Profit 503 168 199% 525 -4% EBITDA 254 120 112% 306 -17% Interest on borrowings -16 -11 50% -14 15% Depreciation and amortisation -23 -24 -4% -22 6% Foreign exchange gain, net
Slide 9: Segmental Results
Segmental Results Strong contribution from our Indonesia operations supported by China operations (in US$ million) Indonesia Operations China Operations 1H 2011 1H 2010 Change 1H 2011 1H 2010 Change Revenue 2,519 1,082 133% 544 269 102% Gross Profit 994 328 203% 35 14 142% Gross Profit Margin 39% 30
Slide 10: Financial Position
Financial Position Strong balance sheet position with low gearing (in US$ million) 30-Jun-11 31-Dec-10 Change Total Assets 10,823 10,114 7% Cash and Short-Term Investments 425 276 54% Trade Receivables and Inventories 997 825 21% Fixed Assets1 8,444 8,270 2% Total Liabilities 3,529 3,169 11% Interes
Slide 11: Plantation Highlights
Section 3 Plantation Highlights
Slide 12: Plantation Area
Plantation Area GAR is the largest Indonesian plantation company with integrated operations (in ha) 30 Jun 30 Jun 30 Jun 2010/2011 31 Dec 2011 2010 % increase 2010 Planted Area 446,160 433,178 3.0% 442,470 Nucleus 354,831 344,308 3.1% 352,124 Plasma 91,329 88,870 2.8% 90,346 Mature Area 391,360 364,
Slide 13: Age Profile
Age Profile GAR’s long-term growth is supported by favourable age profile of planted area underpinned by large immature and young plantations Immature Young Prime Old 1 Old 2 Total (in ha) (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) 1H 2011 Nucleus 47,224 85,540 139,183 72,379 10,
Slide 14: Production Performance
Production Performance 1H 2011 production continued to show significant improvement year-on-year 1H 2011 1H 2010 Change 2Q 2011 1Q 2011 Change FFB Production (‘000 tonne) 4,022 3,129 29% 2,058 1,964 5% Nucleus 3,033 2,387 27% 1,540 1,493 3% Plasma 989 742 33% 518 471 10% FFB Yield (tonne/ha) 10.3 8.
Slide 15: Progress on RSPO Certification
Progress on RSPO Certification SMART and IMT have been members of Roundtable on Sustainable Palm Oil (“RSPO”) since 2005 and 2008, respectively GAR has become a member of RSPO since April 2011 RSPO has resumed its review of the RSPO certification reports submitted by GAR’s subsidiaries To obtain RSP
Slide 16: Downstream Highlights
Section 4 Downstream Highlights
Slide 17: Downstream – Indonesia Operations
Downstream – Indonesia Operations Consistent expansion of downstream capacity to capture growing production of our plantations Capacity (‘000 tpa) Our Brands 1,380 1,380 1,400 1,140 1,140 1,200 1,000 840 840 774 800 Kernel crushing capacity 549 600 459 Refinery capacity 324 324 369 400 200 0 2006 20
Slide 18: Downstream – China Operations
Downstream – China Operations China is one of the largest and fastest growing edible oils consumers GAR will strategically expand its presence in China through organic growth and acquisition: Construction of new vegetable oil refinery and soybean crushing facilities Developing distribution channels
Slide 19: Growth Strategy
ok agribusiness and food Section 5 Growth Strategy
Slide 20: Strategic Priorities
Strategic Priorities Build on core competitive strengths to maximise long-term shareholder returns Expand high-margin • Sustain growth through expansion of planted area upstream business • By way of green field and acquisition as and when opportunities arise • Increase downstream production capabili
Slide 21: Growth Strategy and Outlook
Growth Strategy and Outlook Growth Strategy in 2011 • Expanding palm oil plantations by 20,000 to 30,000 hectares • Building milling capacity in line with the growth in fruits production • Constructing additional downstream processing capacity in strategic locations and extending distribution and lo
Slide 22: 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) 21