Astarta Holding PLC · GPW:AST
Astarta — FY2022 Earnings Presentation
25 slides from Astarta's earnings presentation, Apr 24, 2023
Slide 1: 2022 operating and financial results
2022 operating and financial results April 24th, 2023
Slide 2: Disclaimer
DISCLAIMER This presentation is being provided to you solely for your information and may not be reproduced or further distributed to any other person or published, in whole or in part, for any purpose. This presentation comprises the written materials/slides for a presentation concerning Astarta Ho
Slide 3: 2022 Highlights: Summary P&L
2022 HIGHLIGHTS Summary P&L EURk 2021 2022 • Astarta’s consolidated revenues amounted to EUR510m in 2022, up by 4% y-o-y, Revenues*, incl. 491 355 510 070 on higher contribution from the Soybean Processing segment Agriculture 185 049 180 292 • Revenues of the Agricultural segment were down by 3% y-o
Slide 4: 2022 Highlights: Cash Flows and Balance Sheet
2022 HIGHLIGHTS Summary Сash Flows Summary Balance Sheet EURk 2021 2022 EURk YE21 YE22 Pre-tax income 128 773 75 323 Right-of-use asset (mainly land) 117 058 97 539 Depreciation and amortisation 51 386 45 702 Biological assets (non-current) 27 703 29 962 Financial interest expenses, net 4 274 6 126
Slide 5: Agriculture
AGRICULTURE Sales volumes of key crops Financial results kt 2020 2021 2022 EURk 2020 2021 2022 Corn 630 483 366 Revenues, incl. 175 137 185 049 180 292 Wheat 265 290 201 Corn 94 440 85 125 86 316 Sunseeds 83 45 56 Wheat 44 726 59 763 52 955 Rapeseeds 12 28 15 Sunseeds 26 914 21 324 28 137 Rapeseeds
Slide 6: Agriculture
AGRICULTURE Output of key crops* Key operating highlights kt 2020 2021 2022 Corn 418 508 342 • Astarta entered 2022 with confidence after successful harvest. Wheat 230 However, the military hostilities that followed and subsequent 268 265 difficulties with grain handling, storage and exports forced
Slide 7: Agricultural Market Fundamentals
AGRICULTURAL MARKET FUNDAMENTALS Black Sea Grain Initiative cargo breakdown, Aug 2022- Ukrainian exports of agricultural products by means of transport, Mar 2023 mt, 2022 19% 6 Corn Other 4% Total Wheat 4 Sea ports cargo 50% 26mt Rapeseeds Railway Other 2 Trucks 27% 0 Jan Feb Mar Apr May Jun Jul Aug
Slide 8: Sugar Production
SUGAR PRODUCTION Financial results Key financial highlights EURk 2020 2021 2022 • Revenues declined by 9% y-o-y to EUR156m on back of 22% lower Revenues 126 973 170 197 155 529 y-o-y sugar sales volumes of 226kt, partially compensated by 16% Cost of sales (98 728) (123 711) (113 510) y-o-y higher se
Slide 9: Sugar Market Fundamentals
SUGAR MARKET FUNDAMENTALS Sugar production, consumption and exports, Ukraine 2.5 • In 2022, because of war-related circumstances the area under 2.2 2,000.0 2.1 2.1 2.1 sugar beet in Ukraine was expectedly the lowest in the last 1,800.0 2.0 1.8 1.7 1.7 1,600.0 1.6 1.6 1.5 1.5 1.6 decade at 181kha (pr
Slide 10: Soybean Processing
SOYBEAN PROCESSING Production Financial results kt 2020 2021 2022 EURk 2020 2021 2022 Soybean processed 208 172 211 Revenues, incl. 75 157 89 814 121 886 Soybean meal 152 128 155 Soybean meal 47 873 57 006 64 094 Soybean oil 40 32 40 Soybean oil 25 999 31 598 56 195 Sales volumes Cost of sales (64 0
Slide 11: Cattle Farming
CATTLE FARMING Milk production volume, herd and productivity* Financial results 2020 2021 2022 EURk 2020 2021 2022 Milk production, kt 93 97 102 Revenues 33 167 38 474 38 610 Herd, k heads 22 22 23 Cost of sales (25 015) (26 721) (26 889) Unit milk yield, kg/day 21.4 22.6 23.6 BA revaluation 1 363 (
Slide 12: Strategy for a Sustainable Future
STRATEGY FOR A SUSTAINABLE FUTURE Area of focus Short term Longer term • Safety and support of personnel, preservation and development of human resources • Preservation of financial resources Resilience under war-time • Ensuring sustainable business continuity of operations conditions and help in •
Slide 13: Sustainability Framework: Energy & GHG Emissions Management
SUSTAINABILITY FRAMEWORK: ENERGY & GHG EMISSIONS MANAGEMENT Downstream operations Ratings and reporting Four out of five sugar mills retooled from coal to natural gas. Energy-efficiency BAT programme reduced unit gas consumption by 1/3, electricity by 2/3 since 2015 From 2008 - membership in the G
Slide 14: Common Help UA humanitarian project
At the start of the war, Astarta co-founded a large-scale humanitarian project Common Help UA. The project grew through other businesses, international organizations, local communities and temporarily displaced civilians joining in to provide assistance to those in need, nurture local entrepreneursh
Slide 15: Summary Financials
SUMMARY FINANCIALS 15
Slide 16: Last Three Years Highlights
LAST THREE YEARS HIGHLIGHTS Revenues, EURm Investments, EURm ∑491 ∑510 20 ∑17 ∑416 14 ∑16 5% 8 2 38 39 15 ∑13 2 5 4% 33 90 122 1 3% 3% 3% 75 3% 10 9 185 180 11 175 10 2% 5 127 170 156 6 1% 2 2 0 0% 2020 2021 2022 2020 2021 2022 Sugar Production Agriculture Sugar Production Agriculture Soybean Proces
Slide 17: Consolidated Statement of Profit and Loss
CONSOLIDATED STATEMENT OF PROFIT AND LOSS EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Revenues 68 88 123 128 219 304 353 327 352 314 369 459 372 448 416 491 510 Cost of revenues (55) (67) (96) (83) (128) (193) (286) (293) (268) (219) (257) (355) (324) (4
Slide 18: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Right-of-use asset (mainly land) - - - - - - - - - - - - 110 142 94 117 98 Biological assets 4 6 5 13 15 20 44 45 30 19 15 22 17 30 24 28 30 PP&E and other 33 79 79 111 148 231 244 32
Slide 19: Consolidated Cash Flows
CONSOLIDATED CASH FLOWS EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 PBIT 6 23 (11) 30 80 90 45 21 (67) 14 85 63 (16) 1 9 129 75 Depreciation and amortization 4 5 9 8 13 17 25 27 25 22 29 37 46 63 56 51 46 Gain on acquisition of subsidiaries (4) (5) (9) (
Slide 20: Appendix
APPENDIX 20
Slide 21: Astarta – Value Chain
ASTARTA – VALUE CHAIN Crop growing Storage, Handling and Logistics Processing Primary agriculture Storage and Handling Sugar • Among the biggest Ukraine’s agricultural • 7 grain and oilseeds silos with storage • 21% share of the local sugar market businesses by land bank in operation capacity – 562k
Slide 22: Valuation and Capital Structure
VALUATION AND CAPITAL STRUCTURE EV 2020-2022 4.6 3.6 231 2.4 2.6 109 143 1.9 1.7 1.6 1.1 1.0 0.8 109 125 0.6 98 31 27 43 -0.4 2020 2021 2022 Net financial debt Lease liabilities MCAP Net debt*/EBITDA EV/EBITDA *Net debt incl. lease Equity Coverage Top 10 shareholders* Board of Directors Name Share D
Slide 23: Key ESG Facts
KEY ESG FACTS Total energy consumption, k GJ Total emissions, kt of CO2eq Emissions breakdown, 2022, kt of CO2eq ∑1 040 ∑1 079 3 689 Biogenic Ecological 3 352 238 311 Scope 3 31% FLAG 224 273 17 15 Scope 2 non-FLAG 561 480 Scope 1 69% 2021 2022 2021 2022 Employees by gender Lost day rate Charitable
Slide 24: Astarta IT Solutions
ASTARTA IT SOLUTIONS AgriChain is an in-house integrated multi-module IT solution for agribusiness management. AgriChain consists of 6 ready-to-use IT modules, which are united by an authorization server - a WEB portal. One module is currently under development. This concept of IT architecture allow
Slide 25: FV of Biological Assets
FV OF BIOLOGICAL ASSETS Crops’ calendar Assets in agriculture Mar Apr May Jun Jul Aug Sept Oct Nov Dec Sugar beets Biological assets Agricultural produce Winter crops* Agriculture Agriculture Corn Non-current Current produce at produce Livestock unharvested subsequent the point Sunflower seeds crops