Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — H1 2009 Earnings Presentation
19 slides from Golden Agri-resources's earnings presentation, Aug 14, 2009
Slide 1: Interim Performance Presentation
Interim Performance Presentation YTD June 2009 : first half period ended 30th June 2009 14 August 2009 0
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Golden Agri-Resources Ltd. (“GAR” or “Company”) for informational purposes, and may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are b
Slide 3: Table of Contents
Table of Contents Section 1 Executive Summary 3 Section 2 1H 2009 and 2Q 2009 Financial Highlights 5 Section 3 1H 2009 and 2Q 2009 Operational Highlights 11 Section 4 Growth Strategy 15 2
Slide 4: Executive Summary
‘cam gar Ww ZF gar and food Section 1 Executive Summary
Slide 5: Executive Summary
Executive Summary • 1H 2009 results still lower compared to 1H 2008, but 2Q 2009 results showed strong recovery from previous quarter • Lower Revenue and Net Profit1 by 37% and 78%2 in 1H 2009, respectively, compared to 1H 2008 • Stronger Revenue by 37%, more-than-double EBITDA and six-times Net Pro
Slide 6: 1H 2009 and 2Q 2009 Financial Highlights
Section 2 1H 2009 and 2Q 2009 Financial Highlights
Slide 7: Financial Summary – 1H 2009
Financial Summary – 1H 2009 US$ million 1H 2009 1H 2008 YoY Change Revenue 978 1,564 -37% Gross Profit 194 564 -66% EBITDA 148 424 -65% Interest on borrowings -24 -17 40% Depreciation and amortisation -32 -28 15% Foreign exchange gain/(loss), net -8 6 n.m Net Profit attributable to equity holders1 6
Slide 8: Financial Summary – 2Q 2009
Financial Summary – 2Q 2009 US$ million 2Q 2009 2Q 2008 YoY 1Q 2009 QoQ Change Change Revenue 566 817 -31% 412 37% Gross Profit 130 300 -57% 63 105% EBITDA 103 222 -54% 45 128% Interest on borrowings -13 -8 69% -11 22% Depreciation and amortisation -16 -14 13% -16 - Foreign exchange gain/(loss), net
Slide 9: Segmental Results
Segmental Results (in US$ million) Indonesia Operations China Operations 1H09 1H08 %Change 1H09 1H08 %Change Revenue 717 1,213 -41% 261 351 -26% Gross Profit 180 547 -67% 14 18 -22% Gross Profit Margin 25% 45% -20% 5% 5% - EBITDA 138 411 -66% 10 13 -21% EBITDA Margin 19% 34% -15% 4% 4% - Net Profit
Slide 10: Revenue By Product and Geographical Location
Revenue By Product and Geographical Location 1H 2009 revenues of US$978 million mainly from CPO and refined palm oil based products Revenue - By Product Revenue – By Country Others PK 4% 1% Soybean Oil Indo Local 5% China Local 26% Soybean Meal CPO 27% 13% 42% Branded Palm Products 12% Indo Export U
Slide 11: Financial Position
Financial Position Strong balance sheet with low debt to equity ratio (in US$ million) 30-Jun-09 31-Dec-08 % Change Total Assets 7,043 6,826 3.2% Cash and Short-Term Investments 129 138 -6.4% Receivables and Inventories 896 757 18.4% Fixed Assets (including Biological Assets) 5,833 5,766 1.2% Total
Slide 12: 1H 2009 and 2Q 2009 Operational Highlights
Section 3 1H 2009 and 2Q 2009 Operational Highlights
Slide 13: Plantation Area
Plantation Area GAR is the largest Indonesian plantation group with integrated operations (in ha) 31 Dec 30 Jun 30 Jun 30 Jun 2008/2009 2008 2008 2009 % increase Planted Area 391,642 367,814 401,407 9.1% Nucleus 307,604 285,678 316,032 10.6% Plasma 84,038 82,136 85,375 3.9% Mature Area 308,821 309,0
Slide 14: Age Profile
Age Profile GAR’s long-term growth is supported by favourable age profile of planted area underpinned by large immature and young plantations Immature Young Prime Old Total (in ha) (0-3 years) (4-6 years) (7-18 years) (>18 Years) June 2009 Nucleus 63,251 43,881 166,073 42,827 316,032 Plasma 4,003 3,
Slide 15: Production Highlights
Production Highlights The trees biological slowdown and less favourable weather conditions have eased in 2Q 2009 resulting to strong recovery in production, with 1H 2009 production only slightly lower by 2% 1H 2009 1H 2008 change 2Q 2009 2Q 2008 change FFB Production (tons) 3,395,915 3,466,628 -2% 1
Slide 16: Growth Strategy
‘cam gar Ww ZF gar and food Section 4 Growth Strategy
Slide 17: Strategic Priorities
Strategic Priorities Build on core competitive strengths to maximise long-term shareholder returns • 2009 target additional planted area of 30,000 ha and normalised target additional Expand high-margin planted area of 50,000 ha per annum upstream business • Split between green field vs acquisition t
Slide 18: Growth Strategy for 2009
Growth Strategy for 2009 Expanding High-Margin Upstream Business • Target additional oil palm plantations area of 30,000 ha 9,800 ha of new planting achieved in 1H 2009 • Building CPO milling capacity to capture the growth of fruits production Adding Downstream Processing/Refining Capacity • Constru
Slide 19: Contact Us
Contact Us If you need further information, please contact: Golden Agri-Resources Ltd c/o 3 Shenton Way #17-03 Shenton House Singapore 068805 Website : www.goldenagri.com.sg Telephone : +65 62207720 Facsimile : +65 62207020 Contact Person : Rafael B. Concepcion, Jr. (rafaelc@goldenagri.com.sg) Suwan
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