Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — H1 2021 Earnings Presentation
18 slides from Golden Agri-resources's earnings presentation, Aug 13, 2021
Slide 1: Golden Agri-Resources Ltd (GAR) Interim Performance Presentation
www.goldenagri.com.sg Golden Agri-Resources Ltd (GAR) Interim Performance Presentation Half year ended 30 June 2021 13 August 2021
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: Executive Summary
Executive Summary GAR continued its robust performance in second quarter 2021 EBITDA (in US$ million) contributed from both upstream and downstream businesses 523 • 1H 2021 Financial Performance 158 Revenue EBITDA Underlying Profit1 US$4.45 bn US$523 mn US$246 mn +31% +176% n.m 189 • 2Q 2021 Financi
Slide 4: Financial Highlights
Cia | Financial Highlights /
Slide 5: Financial Performance
Financial Performance US$ million 1H 2021 1H 2020 YoY 2Q 2021 1Q 2021 QoQ Revenue 4,454 3,391 31% 2,406 2,048 17% Gross Profit 1,061 389 173% 576 485 19% EBITDA1 523 189 176% 291 232 26% Underlying Profit/(Loss)2 246 -11 n.m 147 99 48% Net gain/(loss) from changes in fair value of biological assets3
Slide 6: Financial Position
Financial Position Lower leverage and strengthened liquidity position amidst the COVID-19 pandemic US$ million 30-Jun-21 31-Dec-20 Change Total Assets 9,240 9,126 1% Cash and short-term investments 1,041 1,097 -5% Fixed assets1 4,017 4,127 -3% Total Liabilities 4,615 4,695 -2% Net Debt2 747 1,108 -3
Slide 7: Interim Dividend
Interim Dividend Considering GAR’s robust performance during first half 2021, the Board declares interim dividend of 0.528 Singapore cents per share Cash Dividend 2016 2017 2018 2019 2020 1H 2021 Dividend per share (in S$ cents) 0.635 0.809 0.580 0.580 0.480 0.528 Total Dividend (in S$ million) 80.8
Slide 8: Segmental Performance
Cia | Segmental Performance /
Slide 9: Segmental Results: Plantations and Palm Oil Mills
Segmental Results Plantations and Palm Oil Mills Higher margins supported by sustained strength in CPO prices and production recovery 1H 2021 1H 2020 YoY Revenue (US$ million) 1,043 625 67% EBITDA (US$ million) 365 132 177% EBITDA margin 35% 21% 14% CPO FOB Price (US$/MT) 1,088 616 77% FFB Productio
Slide 10: Oil Palm Plantations
Oil Palm Plantations Continued long-term productivity growth through replanting and technological innovation Mature Area (in ha) Planted Area (in ha) Age Profile as of 30 June 2021 536,877 535,923 20% 7% 497,415 484,947 112,588 111,216 39,462 8% 106,867 105,781 41,001 106,964 390,548 379,166 424,289
Slide 11: Managed Age Profile Provides Continued High Yields
Managed Age Profile Provides Continued High Yields GAR sustains its high yields despite higher average age GAR’s best-in-class plantations consistently deliver above- Our high-quality estates continue to produce superior CPO industry CPO yields yields, even at over 25 years MT/ha MT/ha 5.5 5.0 5.3 5
Slide 12: Segmental Results: Palm, Laurics and Others
Segmental Results Palm, Laurics and Others Strong margin recovery after impact from the COVID-19 outbreak in early 2020 1H 2021 1H 2020 YoY Revenue (US$ million) 4,433 3,382 31% Sales Volume (‘000 tonnes) 4,778 4,971 -4% EBITDA (US$ million) 158 58 172% EBITDA margin 3.6% 1.7% 1.9% • Lower sales vol
Slide 13: Strategy and Outlook
Cia | Strategy and Outlook /
Slide 14: Strategic Outlook
Strategic Outlook Strategic Focus • Continue to develop capability in serving growing global demand of health-friendly and sustainably-produced products, leveraging the strengths as a leading soil-to-table agribusiness • Budgeted capital expenditure of US$150 million in 2021 mainly for replanting, b
Slide 15: Towards Responsible Palm Oil Production
Towards Responsible Palm Oil Production TTP for palm supply chain • To date, 94% of palm supply chain is fully traceable to the plantation • Aim to go beyond 100% TTP to reflect entire supply shed and maintain full traceability • This is because supply chain fluctuates every year due to suppliers jo
Slide 16: Appendix
Cia | Appendix /
Slide 17: Age Profile
Age Profile Immature and younger estates use newer-generation higher-yielding planting materials that will further boost production growth in the future Immature Young Prime 1 Prime 2 Old Total hectares (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) 30 June 2021 Nucleus 33,741 37,525
Slide 18: If you need further information, please contact
If you need further information, please contact: Golden Agri-Resources Ltd c/o 108 Pasir Panjang Road #06-00 Golden Agri Plaza Singapore 118535 Tel: +65 6590 0800 Fax: +65 6590 0887 www.goldenagri.com.sg Richard Fung - Director, Investor Relations richard@goldenagri.com.sg golden-agri-resources-ltd
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