Agrana Beteiligungs-ag · VIE:AGR
Agrana Beteiligungs-ag — Q3 2010|11 Earnings Presentation
22 slides from Agrana Beteiligungs-ag's earnings presentation, Jan 13, 2011
Slide 1: Results for the first three quarters of 2010|11
AGRANA Beteiligungs- Beteiligungs-AG Results for the first three q quarters of 2010|11 | (March 1 – November 30, 2010) January 13, 2011|1
Slide 2: Financial Highlights Q1-Q3 2010|11
Financial Highlights Q1-Q3 2010|11 Group revenue up by 5.8% to € 1,624.4m (Q1-3 2009|10: € 1,535.8m) p g profit Operating p up p to € 104.8m (Q (Q1-3 2009|10: | € 78.9m)) Operating margin rose to 6.5% (Q1-3 2009|10: 5.1%) P fit ffor th Profit the period i d iincreased d by b € 7.2m 7 2 to t € 65.0 6
Slide 3: AGRANA's Revenue by Segment
AGRANA’s Revenue by Segment €m +5.8% 1,624.4 1,535.8 Fruit Starch +5.3% Sugar 639.7 607.7 Q1 3 2009|10 Q1-3 Q1 3 2010|11 Q1-3 +11.6% 380.4 424.6 35.7 39.5 34.5 39.4 % % % % +2.3% 547.7 560.1 24.8 26.1 % % Q1-3 2009|10 Q1-3 2010|11 January 13, 2011|3
Slide 4: AGRANA's Operating Profit by Segment Q1-Q3
AGRANA’s Operating Profit by Segment Q1-Q3 Q Q (nine ( months)) Fruit Starch €m +32.8 104.8 Sugar 78.9 35 4 35.4 +39.4% Q1-3 2009|10 Q1-3 2010|11 | 25.4 +26.8% 43.5 34 3 34.3 24.3 24 3 32.2 24 8 24.8 33.7 +35.4% % % % % 19.2 26.0 Q1-3 2009|10 Q1-3 2010|11 43.5 41.5 % % January 13, 2011|4
Slide 5: AGRANA's Operating Profit by Segment Q3
AGRANA’s Operating Profit by Segment Q3 (three Q ( months)) Fruit Starch €m Sugar +14.3 40.0 35.0 -8.1% 13.7 Q3 2009|10 Q3 2010|11 | 14.9 -10.0% 12.6 14.0 17.4 13.7 % 34.3 34.3 6.1 +124.6% 42.6 % % Q3 2009|10 Q3 2010|11 % 40.0 40 0 % 31.5 % January 13, 2011|5
Slide 6: Key Drivers for Q1-Q3 2010|11
Key Drivers for Q1-Q3 2010|11 o Improved market conditions for the sugar industry SUGAR Segment o Increase in non-quota sugar revenue o Lower sales prices for quota sugar o Negative impact of increased raw material cost in the refining countries ti o Higher sales volumes STARCH o Increased raw mater
Slide 7: SUGAR Segment Highlights
SUGAR Segment Highlights R Revenue € €m +2.3% Revenue of € 560.1m 547.7 560 1 560.1 • Strong St ong revenue e en e of € 193.8m 193 8m in Q3 (Q3 09|10: 09|10 € 152.0m) • Good sales volume situation in non-quota g sugar • brisk sales of co-products Q1-3 2009|10 Q1-3 2010|11 Operating Profit €m Operati
Slide 8: Quotation for Raw Sugar & White Sugar
Quotation for Raw Sugar & White Sugar Januaryy 2009 – Januaryy 2011 ((in EUR)) FY 2010|11 30y y high g White sugar (LSE) 11/01/2011 = 622.3 EUR/to Raw sugar (NYSE) 11/01/2011 = 556.5 EUR/to January 13, 2011|8
Slide 9: STARCH Segment Highlights
STARCH Segment Highlights Revenue €m +11.6% Revenue of € 424.6m • Sales volumes increase in all product and by by-products products 380.4 424.6 categories • Volume growth more than made up for the year-on- year reduction in average selling prices seen in the Q1-3 2009|10 Q1-3 2010|11 period to Septe
Slide 10: Price Development of Cereals
Price Development of Cereals Januaryy 2009 – Januaryy 2011 ((in EUR)) FY 2010|11 WHEAT Quotation (Paris) 11/01/2011 254 €/ton CORN Quotation (Paris) 11/01/2011 231 €/ton January 13, 2011|10
Slide 11: FRUIT Segment Highlights
FRUIT Segment Highlights R Revenue € €m +5.3% Revenue of € 639.7m • Increased sales volumes of fruit preparations and 639.7 j i concentrates juice t t more th than compensated t d th the 607.7 lower average sales prices of the reporting period • Eastern Europe was biggest growth driver • Juice conce
Slide 12: Financial Results Q1-Q3 2010|11
Financial Results Q1 Q1--Q3 2010|11 January 13, 2011|12
Slide 13: Consolidated Income Statement
Consolidated Income Statement (based on IFRS) Q3 Q Q3 Q1 Q3 Q1-Q3 Q Q Q1-Q3 Key P&L figures €m 2010|11 2009|10 2010|11 2009|10 Revenue 551.0 501.6 1,624.4 1,535.8 Operating profit before 40.0 35.0 104.8 78.9 exceptional items E Exceptional ti l items it 0 0 0 0 Operating profit after 40.0 35.0 104.8
Slide 14: Change in net financial items
Change in net financial items Q1-Q3 Q1-Q3 €m 2010|11 2009|10 Net interest expense (16.3) (19.4) FX drivers: Currency translation differences (3.8) 13.2 HUF, PLN, RON Other financial items and share of results of non-consolidated ((0.2)) 1.3 subsidiaries and outside companies Net financial items (20.
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet Key figures €m 30 November 2010 28 February 2010 Non-current assets 980.5 1,003.7 Current assets 1 129 8 1,129.8 884 2 884.2 Total equity 940.3 904.7 Non-current liabilities 411.6 288.2 Current liabilities 758.4 695.0 Balance sheet total 2,110.3 1,887.9 Equity ratio 44.6%
Slide 16: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Q1-Q3 Q1-Q3 €m 2010|11 2009|10 Operating cash flow before change in working capital 133 1 133.1 107 1 107.1 Losses on disposal of non-current assets 0.1 0.4 Ch Change in i working ki capital it l (87 6) (87.6) 14 1 14.1 Net cash from operating activities 45.6 121.6 N
Slide 17: Total Investment
Total Investment +9.8% 28 0 28.0 F it Fruit o Expansion E i off th the fi finished i h d goods d 25.5 warehouse in Russia €m o Project for the production of chocolate fruities in Austria 12.7 -0.8% o Tunnel freezer for individual quick 12.8 freezing of fruit pieces in Mexico 4.9 Starch o Machinery a
Slide 18: Outlook
Outlook Pe STARC SUGAR. H, FRUIT. January 13, 2011|18
Slide 19: Outlook AGRANA Group FY 2010|11
Outlook AGRANA Group FY 2010|11 • Group revenue 2010|11 of more than € 2 billion with higher sales volumes and d increased i d sales l prices i in i Q4 2010|11 expected • Operating O ti profit fit 2010|11 will ill be b improved significantly o in i allll three th segments t o due to a strong third q
Slide 20: Segment Outlook FY 2010|11
Segment Outlook FY 2010|11 o Sugar quotas met SUGAR o Out of Quota-sugar available, export licences fixed Segment o Good marketing opportunities of sugar in the EU and on the world market o Lower revenue, due to volumes, in the refining countries expected o Higher sales volumes and prices (following
Slide 21: Thank you for your attention.
Thank you for your attention. January 13, 2011|21
Slide 22: 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 AGRANA Bet
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