Kernel Holding S.a. · GPW:KER
Kernel — Q4 FY2009 Earnings Presentation
12 slides from Kernel's earnings presentation, Aug 28, 2009
Slide 1: Fourth Quarter FY2009 Results
Fourth Quarter FY2009 Results 28 August 2009
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, express 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 the
Slide 3: Q4 FY2009 Financial Highlights
Q4 FY2009 Financial Highlights Amounts in USD millions, except for EPS and ratios Q4 FY2008 * Q4 FY2009 % change Revenue 169.6 181.2 6.8% EBIT 42.8 23.0 (46.3)% Net income ** 43.1 18.2 (57.8)% Cash 88.5 129.3 46.1% EPS *** 0.63 0.27 Net Debt / EBITDA **** 1.4 0.9 EBITDA / Interest 6.0 4.7 * Full yea
Slide 4: Financial Highlights – full year FY2009
Financial Highlights – full year FY2009 Full year Full year Amounts in USD millions, except for EPS % change 2008 2009 Revenue 663.1 1 047.0 57.9% EBIT 111.6 165.3 48.1% Net income * 83.2 132.1 58.8% EPS ** 1.21 1.92 * Net Income attributable to group, before minorities ** EPS is measured in US Doll
Slide 5: Key Drivers in FY2009
Key Drivers in FY2009 Markets Record volumes of grain and oil bearing crops harvested in Ukraine in season 08/09: Kernel exports 2.2 Mio tons of grain on the back of 25 Mio ton total Ukraine grain export Kernel capitalizes on 6.5 Mio ton harvest of sunflower seed and crushes at full capacity through
Slide 6: Q4 FY2009 Income Statement Highlights
Q4 FY2009 Income Statement Highlights Amounts in USD millions, except for EPS and margins Q4 FY2008 Q4 FY2009 % change Revenue 169.6 181.2 6.8% EBITDA 46.4 27.8 (40.1)% EBIT 42.8 23.0 (46.3)% Net income * 43.1 18.2 (57.8)% EPS ** 0.63 0.27 Gross margin 27.3% 27.7% EBITDA margin 27.4% 15.3% EBIT marg
Slide 7: Q4 FY2009 Balance Sheet Highlights
Q4 FY2009 Balance Sheet Highlights Amounts in $m June 30 2008 March 31 2009 June 30 2009 Invested Capital Cash & cash equivalent 88.5 124.0 129.3 Net trade accounts receivable 48.7 35.7 32.4 Inventory 144.7 102.6 99.1 Of which: Readily Marketable Inventories * 138.0 98.6 95.6 Other currents assets 9
Slide 8: Q4 FY2009 Cash Flow Highlights
Q4 FY2009 Cash Flow Highlights Amounts in USD millions Q4 FY2008 Q4 FY2009 Operating profit before working capital changes 41.2 25.8 Changes in working capital 58.0 (16.3) Cash obtained from / (used in) operations 99.2 9.5 Finance costs paid (7.7) (6.0) Income tax paid (1.0) 0 Net cash obtained from
Slide 9: Segments Results – 4th Quarter FY2009
Segments Results – 4th Quarter FY2009 Revenue, $ million EBIT, $ million EBIT margin, % Tonnage * % % FY08 FY09 FY08 FY09 FY08 FY09 FY08 FY09 % change change change Bottled oil 39 17 (56) 6,2 3,2 (48) 16 19 24 16 (33) Bulk oil 107,5 64 (40) 21,5 15,5 (28) 20 24 29 68 134 Grain handling & -- 12 -- 5,
Slide 10: Q4 FY2009 Liquidity position
Q4 FY2009 Liquidity position Amounts in USD millions, except ratios Q4 FY2008 Q3 FY2009 Q4 FY2009 Cash 88.5 124.0 129.3 Inventories 144.7 102.6 99.1 Of which: Readily Marketable Inventories 138.0 98.6 95.6 RMI/Inventories 95.3% 96.1% 96.5% Cash balances remain high due to continued uncertainty in fi
Slide 11: Q4 FY2009 Credit metrics
Q4 FY2009 Credit metrics Amounts in $m, except ratios Q4 FY2008 Q3 FY2009 Q4 FY2009 Gross interest-bearing debt 255.8 281.5 294.6 Cash (88.5) (124.0) (129.3) Net interest-bearing debt 167.2 157.5 165.3 Readily marketable inventories 138.0 (98.6) 95.6 Adjusted net financial debt * 29.3 58.9 69.7 Shar
Slide 12: FY2010 Outlook
FY2010 Outlook FY2010 guidance USD 1 050 million revenue USD 185 million EBITDA USD 130 million Net income Q4 FY2009 12