Slide 1: H1 2024 Investor/Analyst Call
H1 2024 INVESTOR/ANALYST CALL
Slide 2: Agenda
AGENDA 1. Opening 2. Performance Acomo Group 3. Business performance segments 4. ESG 5. Strategic initiatives 6. Organization 7. Q&A 2 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 3: H1 2024 Results
H1 2024 RESULTS Sales equal to prior year Change vs H1 - Increased volumes Spices & Nuts and Tea Consolidated figures (in € millions) H1 2024 H1 2023 2023 - Lower volumes Edible Seeds and Organic Sales 668.2 668.0 0% Gross profit 88.8 86.7 2% Increased Gross Margin % EBITDA 41.2 45.3 -9% Operating i
Slide 4: Working Capital
WORKING CAPITAL Consolidated figures (in € millions) Working Capital decreased significantly in the last two years Main driver was reduction in inventory volumes Inventory value impacted by price developments Inventory levels are commercial instrument 4 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 5: H1 2024 - Ratios
H1 2024 - RATIO’S Ratios H1 2024 H1 2023 Solvency-equity as % of total assets 53.7% 50.3% Solid solvency ratio Earnings and equity per share (in €) Earnings per share 0.61 0.75 Equity per share as at 30 June 13.89 13.60 Increased equity per share Financing ratio's Total leverage ratio 2.77 2.56 Slig
Slide 6: Agenda
AGENDA 1. Opening 2. Performance Acomo Group 3. Business performance segments 4. ESG 5. Strategic initiatives 6. Organization 7. Q&A 6 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 7: Cocoa – Price Development
COCOA – PRICE DEVELOPMENT Jan-Apr: +182% 2023: Apr-Jul: -32% Cocoa prices increased materially in a straight line 2024: In Jan-Apr prices tripled in a straight line 2023: +61% In Apr-July downward trend but extremely volatile 7 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 8: Organic Ingredients
ORGANIC INGREDIENTS Lower result versus prior year due to cocoa • Cocoa accounts for more than 100% of shortfall • Cocoa results trended positively last few months • Fruit & Vegetables product group continues to grow • Other product groups picking up • New CEO starts per 1 September 8 | ACOMO N.V. -
Slide 9: Spices & Nuts
SPICES & NUTS Record performance H1 2024 • Double-digit growth • All businesses contributed to growth • Increased sales and increased margins • Acquisition Caldic Nordics Nuts business 9 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 10: Edible Seeds
EDIBLE SEEDS Lower profit in H1 2024 vs prior year • Lower result North American business - Lower volumes Wildlife due warm winter - Lower export volumes to Europe - Increased sales and margins SunButter® - Increased contract manufacturing volumes • European business increased sales and profits 10 |
Slide 11: Tea
TEA Performance in H1 2024 close to prior year • Volumes and sales increase by +5% • Margins slightly lower • Geopolitical developments continue to have an impact • Good performance North American business 11 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 12: Food Solutions
FOOD SOLUTIONS Results in H1 2024 similar to prior year • Increased volumes dry and wet blends • Lower distribution volumes • Increased margins through value add • Production capacity expansion investment 12 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 13: Agenda
AGENDA 1. Opening 2. Performance Acomo Group 3. Business performance segments 4. ESG 5. Strategic initiatives 6. Organization 7. Q&A 13 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 14: ESG – Strategy and Reporting
ESG – STRATEGY AND REPORTING • Double Materiality and GAP Assessment finalised. • Implementation Roadmap for the ESRS gaps (governance/policies/targets/actions on sustainability matters). • ESG metrics defined for the material ESRS standards. • Data collection started • Implementation Internal Contr
Slide 15: ESG – Performance
ESG – PERFORMANCE Plant-based and natural food ingredients • 2030: 100% GFSI certified own operations Initiatives and scores • 2030: 90% GFSI certified third party operations • SEDEX (Supplier Ethical Data Exchange) and Acomo Corporate Sustainability Due Diligence procedure Responsible and resilient
Slide 16: Agenda
AGENDA 1. Opening 2. Performance Acomo Group 3. Business performance segments 4. ESG 5. Strategic initiatives 6. Organization 7. Q&A 16 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 17: Caldic FSR business
Caldic FSR business • Active in the Nuts segment: - Various nuts as well as almond paste - Processing and packing facilities • Located in Malmö, Sweden, three locations: Caldic-office, separate plant, third party warehouse • Customers are in Foodservice, Retail and Industrial • Coverage of mainly Sw
Slide 18: Acquisition rationale – Delinuts Nordics
Acquisition rationale – Delinuts Nordics • Nuts & dried fruits are core and focus for growth • Currently Acomo through export active in Nordic market • Caldic FSR was customer of Acomo companies • Opportunity to expand product portfolio (conventional and organic) • Own production facilities • Experi
Slide 19: Food Solutions – Capacity expansion (1)
Food Solutions – Capacity expansion (1) Background: • Snick EuroIngredients operates three lines of business: a) ingredients trading and distribution b) production and sales of dry blends c) production and sales of wet blends • Wet blend capacity (currently a combination of own and outsourced capaci
Slide 20: Food Solutions – Capacity expansion (2)
Food Solutions – Capacity expansion (2) • New facility identified in Oostende close to current operations • Rental contract was signed for building equipped with freeze and cooling warehousing • New equipment will be installed • Start of production start is planned for Q1 2025 20 | ACOMO N.V. - INVE
Slide 21: Agenda
Agenda 1. Opening 2. Performance Acomo Group 3. Business performance segments 4. ESG 5. Strategic initiatives 6. Organization 7. Q&A 21 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 22: Organization
ORGANIZATION Mirjam van Thiel - New Group CFO Acomo as per 1 October 2024 Floris Wesseling - New CEO Tradin Organic as per 1 September 2024 22 | ACOMO N.V. - INVESTOR CALL H1 2024
Slide 23: Q&A
Q&A
Slide 24: Slide 24