Dn Agrar Group S.a · BVB:DN
Dn Agrar — Q1 2024 Earnings Presentation
28 slides from Dn Agrar's earnings presentation, May 2024
Slide 1: Presentation Financial Results Q1 2024
Presentation Financial Results Q1 2024 - May 2024 - 1
Slide 2: Content
CONTENT ABOUT DN AGRAR Q1 2024 RESULTS & OUTLOOK DN AGRAR STRATEGY 2
Slide 3: DN Agrar Investment Proposition
DN AGRAR INVESTMENT PROPOSITION Leading milk producers in Europe Market and the largest integrated Position zootechnical farm in Romania, with cow milk production and vegetable production. Focus on sustainable, regenerative Sustainable agriculture practices that maximize Agriculture productivity, re
Slide 4: DN Agrar Activity
DN AGRAR ACTIVITY Zootechnics Vegetal agricultural production Agricultural services Logistics Transport Tourism Business and management consulting services 4
Slide 5: DN Agrar Farms Today
DN AGRAR FARMS TODAY APOLD FARM CUT FARM • 5,500 dairy cattle & young stock • 70,000 liters/day • 2,200 dairy cattle • 400 cows milked/hour • 50,000 liters/day • 300 cows milked/hour LACTO AGRAR FARM PRODLACT FARM • 4,000 dairy cattle & young • Over 3,000 young stock stock animals • 63,000 liters/da
Slide 6: DN Agrar in the Capital Market
DN AGRAR IN THE CAPITAL MARKET • Listed on the Bucharest Stock Exchange, AeRO market since February 2, 2022 Analysts covering DN share • +123% share price performance on March 29, 2024, compared to March 31, 2023 Prime Transaction – December 18, updated target price 1.6922 RON • Shares included in t
Slide 7: Q1 2024 Results & Outlook
Q1 2024 RESULTS & OUTLOOK 7
Slide 8: Milk Production Evolution
MILK PRODUCTION EVOLUTION ✓ DN AGRAR recorded an 18% increase in the first quarter of 2024 compared to the same period of last year. ✓ DN AGRAR exceeded the threshold of 5 million liters delivered monthly, in each month of the current year's first quarter. In March 2024, the quantity of milk deliver
Slide 9: Cereal Production Evolution
CEREAL PRODUCTION EVOLUTION Lucerne: ✓ 2 harvests, with a production of 13 tons/ha Triticale ✓ 800 ha harvested ✓ Production of 30 tons/ha In 2023, we had a production of 23 tons/ha ✓ Still need to harvest 400 ha ✓ After the harvest, seeding corn as a second crop 9
Slide 10: Key Performance Indicators
KEY PERFORMANCE INDICATORS TURNOVER NET PROFIT EBITDA RON 40.28 mil. RON 7.89 mil. RON 17.70 mil. -9.02% -4.53% +3.35% Vs Q1 2023 Vs Q1 2023 Vs Q1 2023 NET ASSETS TOTAL ASSETS EQUITY RON 239.13 mil. RON 316.38 mil. RON 141.36 mil. +3.40% +2.74% +6.02% Vs 31.12.2023 Vs 31.12.2023 Vs 31.12.2023 10
Slide 11: Key Performance Indicators: Turnover and EBITDA Evolution
KEY PERFORMANCE INDICATORS EVOLUTION TURNOVER EVOLUTION EBITDA 11
Slide 12: Key Performance Indicators: Net Profit Evolution
KEY PERFORMANCE INDICATORS EVOLUTION NET PROFIT Decreased by 5% compared to T1 2023, primarily impacted by the decrease of 25% in milk prices. 12
Slide 13: Financial Results Highlights
FINANCIAL RESULTS HIGHLIGHTS PROFIT AND LOSS ACCOUNT ✓ Operating expenses increased by 3.27% as 31/03/2024 31/03/2023 ∆% (RON) of March 31, 2024, reaching RON 49 million. OPERATING INCOME – TOTAL 60,152,441 60,406,670 (0.42)% ✓ The main contribution came from OPERATING EXPENSES – TOTAL 48,559,094 47
Slide 14: The Main Elements of the Balance Sheet
THE MAIN ELEMENTS OF THE BALANCE SHEET BALANCE SHEET INDICATORS (RON) 31/03/2024 31/12/2023 ∆% ✓ Equity increased by 6% compared to FIXED ASSETS - TOTAL 213,534,017 212,141,058 0.66% December 31, 2023, reaching RON 141 CURRENT ASSETS - TOTAL 100,027,969 94,362,606 6% million, a rise driven by the re
Slide 15: Outlook Q2 2024
OUTLOOK Q2 2024 Key highlights of the European milk market ➢ IT spot milk price still rising, now at 52.3 c/kg (26.05.2024) ➢ EU butter prices: 609€/100 kg, +4.3% in the last 4 weeks ➢ EU SMP prices: 244€/100 kg, +1.8% in the last 4 weeks ➢ EU WMP prices: 373€/100 kg, +2.3% in the last 4 weeks ➢ EU
Slide 16: Outlook of DN Agrar Milk Price
OUTLOOK OF DN AGRAR MILK PRICE 16
Slide 17: Outlook of DN Agrar Milk Price
OUTLOOK OF DN AGRAR MILK PRICE 17
Slide 18: Outlook of DN Agrar Milk Price
OUTLOOK OF DN AGRAR MILK PRICE 18
Slide 19: DN Agrar Projects
DN AGRAR PROJECTS 19
Slide 20: Current Projects and Perspectives
CURRENT PROJECTS AND PERSPECTIVES Robots for farms Installation of 2nd robot for the milking parlors of the DN AGRAR Cut and Lacto Agrar Solar panels on farms continued in the first the roof of the buildings quarter and the finalization of the DN AGRAR Apold, was in May 2024. DN AGRAR Cut and Lacto
Slide 21: Straja Project
STRA JA PROJECT Project planned to be completed in 2027 Capacity of 5,000 cows (3,800 dairy cows & 1,200 young stock) Timeline • 2024: Construction works start, approx. 1,000 cows in production • 2025: Approx. 1,700 cows in production & pregnancy • 2026: Approx. 3,400 cows in production & pregnancy
Slide 22: DN Agrar Dairy Farms 2027/2028
DN AGRAR DAIRY FARMS 2027/2028 THE 4 DAIRY FARMS A HERD OF APPROX OVER 300.000 LITERS WILL PRODUCE OVER 20.000 DAIRY COWS PER DAY 100 MILLION LITERS AND YOUNG STOCK OF MILK ANNUALLY 22
Slide 23: DN Agrar Farms 2027/2028
DN AGRAR FARMS 2027/2028 STRA JA FARM Acquisition FARM • 3,800 dairy cattle • ………. dairy cattle • 1,200 young stock • ……….liters/day • 100,000 liters/day • ………. cows milked/hour • 600 cows milked/hour APOLD FARM CUT FARM • 5,500 dairy cattle + • 2,200 dairy cattle young stock • 50,000 liters/day • 1
Slide 24: Working Scenarios until 2027
WORKING SCENARIOS until 2027 Net Profit Net Turnover EBITDA The selling price of milk is The milk price at the average The price of milk is Takes into account a positive considered to be close to price level we achieved from the considered to be at the level evolution in the milk price, higher 2023'
Slide 25: Future Plans Under Analysis
FUTURE PLANS under analysis Vertical Farming Under analysis Advantges: • Year-round production • Climate and weather agnostic • More efficient use of space • Urban farming • Lower labor costs • Minimal water use • No soil degradation • No usage pesticides or herbicides Production of Liquefied The th
Slide 26: Future Events
FUTURE EVENTS 7th of June ARIR Forum June/July ESG Report Speaker Peter de Boer, BoD DN AGRAR will publish 2023 Member & IR Manager ESG Report 12th of June Quarterly Report by 27th of August H1 Report Tradeville Speaker Peter de Boer, BoD DN AGRAR will publish H1 Member & IR Manager 2024 Report 20th
Slide 27: Contact Investor Relations
CONTACT INVESTOR RELATIONS Peter de Boer, BoD Member & Investor Relations Manager investors@dn-agrar.eu , +40 258 818114 27
Slide 28: Questions
QUESTIONS 1. When you estimate you will give dividends to the shareholders? 2. I am interested to find out more about the status of implementation of the strategic initiatives. 3. Milk prices started growing again in April, and it looks that at least for Q2, the prices are 9-10% higher than Q2 last