Pacsco Limited · LSE:PACS
Pacsco — Agriterra — Investor Presentation (April 2013)
30 slides from Pacsco's investor presentation, April 2013
Slide 1: Company Presentation April 2013
Company Presentation April 2013
Slide 2: Agriterra is a pan-African agricultural company
Agriterra is a rapidly growing London-listed pan- African agricultural company with established beef, cocoa production, fruit orchards and trading, maize farming and processing. 2 | AGRITERRA LIMITED | APRIL 2013
Slide 3: Disclaimer
DISCLAIMER This presentation (‘the Presentation’) relating to Agriterra Limited (‘the Company’) does not constitute or form part of, and should not be construed as an offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in the Company in a
Slide 4: Overview
OVERVIEW • AIM listed agricultural company in Africa with three key divisions: cattle ranching, cocoa trading and plantation development, maize farming & milling • Capitalising on the rapidly growing agricultural market in sub-Saharan Africa to become a leading food provider • Market capitalisation
Slide 5: Key Data
KEY DATA 10.08% 4.98% 3.77% Market AIM 3.77% 3.28% Ticker AGTA 77.39% Share Price 2.5p Shares in Issue 1,059,716,239 Beyond Africa Fund Limited Libra Fund LP Gartmore Investment Limited Oppenheimer Funds Inc Market capitalisation £26.5 million Directors Others NOMAD and Joint Broker Cantor Fitzgeral
Slide 6: Africa in Numbers
AFRICA IN NUMBERS US$2 5.5% US$85 54 trillion: Africa’s 7 billion funding for African infrastructure in sovereign Africa’s share of African 2010 states collective global FDI countries GDP (more projects than India) among the 10 fastest 35 African countries growing ahead of China on the EIU’s Democra
Slide 7: The African Growth Story
THE AFRICAN GROWTH STORY 7 | AGRITERRA LIMITED | APRIL 2013
Slide 8: Group Product Range
GROUP PRODUCT RANGE Mavonde and Cocoa buying and Maize farming, buying and Dombe ranches trading processing in Chimoio Vanduzi feedlot, abattoir Cocoa plantation Maize farming and processing and butchers development 8 | AGRITERRA LIMITED | APRIL 2013
Slide 9: Mozbife
MOZBIFE • Vertically integrated cattle ranching, feedlot and abattoir operations in Mozambique • Expansion into animal feed plant to supply own herd, local demand and export market • Current herd exceeding 5,450 head over 21,000 hectares with significant room for further expansion • Capitalising on
Slide 10: Mavonde Stud Ranch
MAVONDE STUD RANCH • 2,350 hectare Mavonde Stud Ranch stocked with ~1,000 Beefmaster cattle – prized for their top weight gaining ability and adaptability to hot climates • Breeding herd has achieved consistent pregnancy rates of over 80%, and the herd is further supplemented with additional Beefmas
Slide 11: Dombe Ranch
DOMBE RANCH • 15,000 hectare Dombe Ranch located in Central Mozambique • Investment currently focussed on infrastructure, i.e. construction of paddocks, roads, fencing, irrigation and staff head-quarters • Beefmaster breeding herd augmented with native cattle, such as Brahman – cross-breeding progra
Slide 12: Vanduzi Feedlot
VANDUZI FEEDLOT • 20 pen line feedlot completed with capacity of up to 3,000 head • Slaughter dress out weights have been between 51% and 56% over three month period • Sales of 240 per month at an average price of US$1,150 per carcass has been achieved to date • Includes 1,050 hectares of land for c
Slide 13: Abattoir & Retail Units
ABATTOIR & RETAIL UNITS • 4,000 head per month capacity abattoir commenced operations in December 2012 • Throughput augmented using local steers from the community • Initial retail unit in Chimoio opened December 2012 and experiencing strong sales of $1,000 to $1,500 per day and increasing • Second
Slide 14: Fruit Plantation
FRUIT PLANTATION • Diversification of product range through acquisition of 2,500 hectare Irmaos Ranch and Balasson Farm – encompasses a producing banana plantation, macadamia orchard and land capacity for cattle • 50 acre banana plantation producing initial weekly yields of approximately 7 tonnes –
Slide 15: Tropical Farms Limited ('TFL')
TROPICAL FARMS LIMITED (‘TFL’) • Capitalising on strengthening global demand for cocoa and security of supply and the increasing importance of traceability • Operations to focus on securing cocoa supplies through long term relationships with farmers and out-grower schemes and development of plantati
Slide 16: Cocoa Farm Management & Trading
COCOA FARM MANAGEMENT & TRADING • Established in 2008 to provide a high quality, sustainable and traceable cocoa buying operation head quartered in Kenema in the eastern region of Sierra Leone • 3 main hub stores and 41 satellite stores with a direct buying register of approximately 3,500 farmers ac
Slide 17: Cocoa Plantation Development
COCOA PLANTATION DEVELOPMENT • Accelerated development initiatives underway at 1,200 hectare plantation in south-east Sierra Leone to facilitate commercial large scale cocoa production • 200 hectares cleared to date – intention to clear 1,200 hectares by Q4 2013 and complete planting across entire p
Slide 18: Tropical Farms Limited ('TFL')
TROPICAL FARMS LIMITED (‘TFL’) 18 | AGRITERRA LIMITED | APRIL 2013
Slide 19: Maize Milling & Processing
MAIZE MILLING & PROCESSING • Established agricultural farming, buying and processing operation in Chimoio (Central Mozambique) and Tete (Northern Mozambique) • Well established and recognised brands with increasing market penetration and geographic reach – 15% sales to the UN World Food Programme •
Slide 20: Investment Summary
INVESTMENT SUMMARY • AIM listed agricultural company with established cash generative operations • Multi commodity approach encompassing beef ranching, maize, cocoa, fruit and animal feed – four current revenue streams • Positive pricing environment and high margin businesses – strategy to expand op
Slide 21: Contacts
CONTACTS Andrew Groves Director +44 (0) 20 7408 9200 Euan Kay Director +258 820 697 840 Susie Geliher St Brides Media & Finance Ltd +44 (0) 20 7236 1177 21 | AGRITERRA LIMITED | APRIL 2013
Slide 22: New Calves at Mavonde Stud Ranch
NEW CALVES AT MAVONDE STUD RANCH 22 | AGRITERRA LIMITED | APRIL 2013
Slide 23: Mavonde Dam and Reservoir
MAVONDE DAM AND RESERVOIR 23 | AGRITERRA LIMITED | APRIL 2013
Slide 24: Cross-Breeding Programme at Dombe
CROSS-BREEDING PROGRAMME AT DOMBE 24 | AGRITERRA LIMITED | APRIL 2013
Slide 25: Vanduzi Feedlot
VANDUZI FEEDLOT 25 | AGRITERRA LIMITED | APRIL 2013
Slide 26: Chimoio Abattoir
CHIMOIO ABATTOIR 26 | AGRITERRA LIMITED | APRIL 2013
Slide 27: Cocoa Drying in Sierra Leone
COCOA DRYING IN SIERRA LEONE 27 | AGRITERRA LIMITED | APRIL 2013
Slide 28: Cocoa Nursery
COCOA NURSERY 28 | AGRITERRA LIMITED | APRIL 2013
Slide 29: Plantation Clearing Underway
PLANTATION CLEARING UNDERWAY 29 | AGRITERRA LIMITED | APRIL 2013
Slide 30: D.E.C.A Maize Processing
D.E.C.A MAIZE PROCESSING 30 | AGRITERRA LIMITED | APRIL 2013