Slide 1: Q3 FY2014 Financial Results Presentation
Q3 FY2014 FINANCIAL RESULTS PRESENTATION Kernel Holding S.A. and Subsidiaries
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of th
Slide 3: Q3 FY2014 results highlights
Q3 FY2014 results highlights Key highlights Hryvnya devaluation Revenues up 13.0% yoy to USD 675.0 million in Q3 FY2014, driven by higher sunflow- The Ukrainian hryvnya devalued 27% during the quarter under review (from 7.99 er oil and grain sales volumes in a yoy lower pricing environment. UAH
Slide 4: Q3 FY2014 results highlights
Q3 FY2014 results highlights Amounts in USD million, except for EPS and ratios Q3 FY2014 Q3 FY2013 yoy Q2 FY2014 qoq Revenue 675.0 597.5 13.0% 725.5 (7.0%) EBITDA (1) 30.0 45.1 (33.5%) 58.1 51.6% Net profit attributable to equity holders of Kernel Holding S.A. (25.1) (3.4) n/m (9.1) n/m EBITDA margi
Slide 5: Segment results summary
Segment results summary Revenue(1), USD million EBITDA, USD million EBITDA margin, % Q3 FY2014 Q3 FY2013 yoy Q3 FY2014 Q3 FY2013 yoy Q3 FY2014 Q3 FY2013 Bottled oil 32.7 40.4 (19.1%) 6.6 5.8 13.5% 20.2% 14.4% Bulk oil 310.0 303.0 2.3% 50.1 36.5 37.3% 16.2% 12.0% Export terminal 13.2 9.0 46.3% 8.2 5.
Slide 6: Sunflower oil segments performance
Sunflower oil segments performance Sunflower oil Sunflower seed crush, tons Bulk oil sales volumes up 52.0% yoy to 264.5 thousand tons in Q3 FY2014, with sales close to pro- 800 000 duction levels. The segment’s revenues increased 2.3% yoy to USD 310.0 million, lagging volume 700 000 growth due to
Slide 7: Grain, silo and export terminals segments performance
Grain, silo and export terminals segments performance Grain Grain sales, tons Grain sales volumes up 2x yoy to 1.3 million tons in Q3 FY2014 benefiting from record-high produc- 1 600 000 FY2012 FY2013 FY2014 tion and export volumes out of Ukraine along with farmers actively selling corn as the gov
Slide 8: Farming segment performance
Farming segment performance Farming Crop yields, t/ha(1), net Farming segment’s sales amounted to USD 34.9 million, up 2.9x yoy, comprised of sales of 8.0 the crop harvested in autumn 2013. 7.1 7.0 The segment’s EBITDA loss amounted to USD 21.5 million in Q3 FY2014 (USD 3.5 million loss in Q3 FY
Slide 9: Balance sheet highlights
Balance sheet highlights Amounts in USD million 31 March 2014 30 June 2013 31 March 2013 Invested Capital Cash & cash equivalents 99.0 78.8 106.5 Net trade accounts receivable 169.8 149.6 109.9 Inventory 554.5 270.2 802.0 of which: readily marketable inventories 446.4 175.1 649.1 Biological assets 6
Slide 10: Cash flow highlights
Cash flow highlights Amounts in USD million Q3 FY2014 Q3 FY2013 Operating profit before working capital changes 25.9 49.0 Changes in working capital 141.4 276.5 Cash obtained from/ (used in) operating activities 167.3 325.4 Finance costs paid (20.6) (18.2) Income tax paid (12.3) (12.8) Net cash obta
Slide 11: Liquidity position & credit metrics
Liquidity position & credit metrics Amounts in USD million, except ratios 31 March 2014 30 June 2013 31 March 2013 Gross interest-bearing debt 1 015.4 734.2 1 049.9 Cash 99.0 78.8 106.5 Net interest-bearing debt 916.4 655.4 943.3 Readily marketable inventories 446.4 175.1 649.1 Adjusted net financia
Slide 12: IR contact
IR contact • Yuriy Kovalchuk Corporate Investment Director investor_relations@kernel.ua • Yegor Samusenko Investor Relations Manager y.samusenko@kernel.ua Tel.: (+38-044) 461-88-01 Q3 FY2014 12