Slide 1: Sustainable Land Use Interim Results
Sustainable Land Use INTERIM RESULTS 5 March 2024 originenterprises.com 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of the preparation of this presentation. Due to the inherent uncertainties, including both econom
Slide 3: Solid H1 delivery despite a challenging on-farm environment
Solid H1 delivery despite a challenging on-farm environment FINANCIALS SET AGAINST DIVERSIFICATION SUPPORTS PERFORMANCE STRONG COMPARATIVE > LATAM business continues its underlying volume growth trajectory €854.9m (H1 2023: €1,180.0m) > Amenity, Environment and Ecology division is advancing positive
Slide 4: Trading Review Ireland and the United Kingdom
Trading Review Ireland UK Operating Profit (€’m) Ireland and the 2.9 3.2 2.8 United Kingdom -3.1 -2.7 -9.1 > Challenging planting profile impacting early season volumes across our agricultural portfolios H1 2024 H1 2023 H1 2022 H1 2021 H1 2020 H1 2019 > Underlying volume reduced by 5.7%, primarily r
Slide 5: Ireland and the United Kingdom Amenity, Environment and Ecology
Ireland and the United Kingdom Amenity, Environment and Ecology Revenue (€’m) > Increased revenues and contribution over the prior year UK Ireland > Recent acquisition of Groundtrax enhances our amenity landscaping product range, complementing Green-tech, Suregreen and British Hardwood Trees offerin
Slide 6: Trading Review Continental Europe
Trading Review Operating Profit (€’m) Continental Europe Poland 2.6 > Satisfactory start to the year in the seasonally quiet H1 1.5 period 1.1 Romania 0.1 0.7 0.6 H1 2024 H1 2023 H1 2022 H1 2021 H1 2020 H1 2019 > Underlying volume reduced by 6.1% vs prior half year which had seen strong forward buyi
Slide 7: Trading Review Latin America
Trading Review Operating Profit (€’m) Latin America Brazil Paraná State Minas > Solid performance in the period despite falling fertiliser price Gerais State market which impacted gross margin mix. 13.9 14.2 6.7 3.9 5.7 5.5 H1 2024 H1 2023 H1 2022 H1 2021 H1 2020 H1 2019 > Underlying volume increase
Slide 8: Financial Performance
FINANCIAL PERFORMANCE 2024 originenterprises.com 8
Slide 9: 2024 Interim Financial Summary
2024 Interim Financial Summary PERFORMANCE CASH & DEBT Capital Allocation REVENUE OPERATING PROFIT FINANCE COSTS NET BANK DEBT2 TOTAL DIVIDEND €854.9m €12.7m €8.8m €215.8m 3.15 cent H1 2023: €1,180.0m H1 2023: €20.3m H1 2023: €8.6m H1 2023: €130.9m H1 2023: 3.15 cent VOLUME1 PRICE1 ADJUSTED EPS WORK
Slide 10: Operating Profit Year on year movement
Operating Profit Year on year movement 6 months to January 2024 (€9.4m) €20.3m +€1.6m +€0.2m €12.5m €12.7m FY23 Underlying Acquisition FY24 Currency FY24 (excl. currency) 2024 originenterprises.com 10
Slide 11: Balance Sheet: Strong balance sheet to support our objectives
Balance Sheet Strong balance sheet to support our objectives Balance Sheet Banking Covenant H1 2024 H1 2023 FY 2023 Net Debt: adjusted EBITDA Maximum 3.5x 2.09x 1.03x - Adjusted EBIT: Net Financing Costs Minimum 3.0x 9.28x 9.91x 8.57x > Total M&A spend of €54.2m in last 12 months, including the comp
Slide 12: Strategic Update
STRATEGIC UPDATE Sustainable Land Use 2024 originenterprises.com 12
Slide 13: Strategic Ambition: Cumulative targets FY22 to FY26
Strategic Ambition Cumulative targets FY22 to FY26 2017-2021 FY22– FY26 % of CMD target delivered Historic in 2 years to end FY 23 CMD 2022 Target performance Cumulative Group Cumulative Group Operating Profit Operating Profit 51% €329m €415m Free Cash flow Free Cash Flow €257m €325m >80% Average ca
Slide 14: Macro Drivers
Changing landscape for our core agricultural segment Environmental Regulation Food & Climate Change Security Fluctuating Macro Biodiversity Commodity Prices Drivers Farm Digitalisation Consolidation / AI 2024 originenterprises.com 14
Slide 15: Enabling our customer to grow through the connected farm of the future
Enabling our customer to grow through the connected Yield Irrigation farm of the future Agronomy Satellite Monitoring Crop Weather and → Leading on-farm agronomy Protection Soil Moisture and product distribution Soil Fertiliser → End-to-end product portfolio Biodiversity Seed → Tailored digital solu
Slide 16: Business model evolution
Business model evolution Further develop sustainable land use business model, with our Amenity, Environment and Ecology segment to contribute 30% of Group operating profit by end FY26 Four acquisitions in the past 12 months to UK addressable markets complement Greentech Established No 1 position UK
Slide 17: 2022 CMD Strategic Objectives Delivered
2022 CMD Strategic Objectives Delivered Ecology Growth in Services Biologicals Acquisition Working Capital Product Innovation Invest Discipline and Mix for growth Strengthen Foundations Broaden Landscaping Products Amenity Service Bolt Ons Offer Improved Use of Invest in Technology Our People 2024 o
Slide 18: Strategic Focus to FY26
Strategic Focus to FY26 Optimise Develop Amenity, Readiness for the Agri Core Environment and Ecology Core 2030 Macro Landscape Financial Discipline Product Mix Grow AE&E Continue to migrate to Working Capital and to 30% of EBIT by end FY26 products which drive ROCE focus grower’s yield sustainably
Slide 19: Summary
Summary • Solid operating performance in H1 despite • Continue to pursue a disciplined approach to challenging planting and infield conditions capital allocation to drive shareholder returns › Continue to invest in margin accretive organic and • Diversified portfolio underpinning the solid result M&
Slide 20: Thank You
THANK YOU 2024 originenterprises.com 20