Ricegrowers Ltd. Class B · ASX:SGLLV
Ricegrowers Ltd. Class B — FY2024 Earnings Presentation
25 slides from Ricegrowers Ltd. Class B's earnings presentation, Jun 27, 2024
Slide 1: Full Year Results Presentation 2024
REALISING GLOBAL POTENTIAL Full Year Results Presentation 2024
Slide 2: Important notice & disclaimer
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL Important notice & disclaimer This presentation is for information purposes only. This The distribution of this presentation including in presentation, including the accuracy, likelihood of structure to assess whether the structure continues to be inf
Slide 3: FY24 Financial Highlights
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL FY24 FY23 FY24 Financial Revenue $1.88b ^15 Highlights % $1.64b $430/t 7% Paddy price for ^ medium grain $461/t In FY24 we achieved another year of strong growth across the SunRice Group. We made significant gains, as we look to lay the foundations to
Slide 4: FY24 Sustainability Highlights
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL Water efficiency Percentage of CY23 crop drill sown FY24 Sustainability 0.91t/ML 44.5% Highlights CY23 av. water efficiency achieved. Waste reduction rising to 72% for the CY24 crop. Resilient communities We continued to embed sustainability into our
Slide 5: FY24 Activity
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL FY24 Activity Revenue Profitability Volume growth Value growth • Growth in profitability was supported by the Group’s • Approximately 70% of the Group’s sales related to • The strength of the Group’s brands was further ability to navigate challenging
Slide 6: Segment snapshot
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL FY24 Segment snapshot Australian Rice Profit Businesses Pool Business Rice Pool International Rice Rice Food Riviana Foods CopRice Corporate Volume growth in key international retail Volume growth in key international Product innovation, a more optimi
Slide 7: History of Performance
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL History of Performance Resilience demonstrated Consistently strong dividends The record FY24 revenue was AU Crop and Group Revenue 1,638 1,880 Dividend (cents per B Class Share) and 60 60 Dividend Yield2 underpinned by the continued 1,113 1,177 1,193
Slide 8: SunRice is a global food company with a deep Australian heritage
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL HOW WE CREATE VALUE OUR STRUCTURE SunRice is a global Our objective is to optimise returns for both classes of shareholders. food company with a deep Australian heritage. A B A Class B Class Listed on the ASX, SunRice Shareholders Shareholders continu
Slide 9: What we draw upon
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL OUR INPUTS OUR BUSINESS 2 OUR STRUCTURE Sourcing We source raw materials and specialty What we draw upon How we gourmet foods from growers and How we contribute create value suppliers from Australia and globally Our environment Shareholder value The l
Slide 10: Financial results
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL FY24 Financial results
Slide 11: Group Financials
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL Group Financials Revenue up 15% Key drivers included growth in volumes and value. Strong ($’000s) FY24 FY23 sales volumes were supported by brands and international market expansion. Value growth was further supported by Revenue from continuing operat
Slide 12: EBITDA and Cash flow movement
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL EBITDA and Cash flow movement EBITDA movement ($m) Movement in Net Debt ($m) At 30 April 2024, all remaining debt drawn down on our Seasonal facility relates to Net Working Capital funding, with this being primarily made up of near-term marketable +23
Slide 13: Capital management
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL Net Debt / EBITDA Core Debt / EBITDA Gearing ratio Core Gearing ratio2 Capital 1.6x n.a. 27% n.a. management Net Debt Seasonal Net Debt3 and Net Working Capital ($m) ($m) Net Debt and gearing reduced to $224m and 27% Seasonal debt is driven, in part,
Slide 14: Segment performance
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL Segment performance
Slide 15: Australian Rice Pool Business
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL AUSTRALIAN RICE Our FY24 Performance Revenue ($m) POOL BUSINESS 384.9 $384.9m Driving Performance 335.3 Rice Pool 223.2 246.1 • Volume growth in consumer and tender markets. • Stronger USD favouring exports ^15% 114.8 Our SunRice brands • Cost saving
Slide 16: International Rice Businesses
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL PROFIT Our FY24 Performance Revenue ($m) BUSINESSES 893.8 International Driving Performance • Volume growth in consumer and $893.8m 531.4 548.5 620.9 735.0 Rice tender markets. • Sales pricing strategies to help ^22% absorb inflationary pressures. We
Slide 17: International Rice
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL PROFIT BUSINESSES International Rice Where FY24 revenue was generated How FY24 revenue was generated 17
Slide 18: Rice Food Businesses
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL PROFIT Our FY24 Performance Revenue ($m) BUSINESSES 121.0 106.4 113.0 $121.0m Driving Performance 99.6 96.1 Rice Food • Product innovation supporting volume growth in some ^7% categories. Innovation, raw material • Sales pricing strategies to help FY2
Slide 19: Riviana Foods
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL PROFIT Our FY24 Performance Revenue ($m) 221.8 BUSINESSES 196.5 215.0 Riviana Driving Performance • Product innovation and Toscano $221.8m 136.6 148.4 momentum. ^3% Foods • Sales pricing strategies to help absorb inflationary pressures. FY20 FY21 FY22
Slide 20: CopRice
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL PROFIT Our FY24 Performance Revenue ($m) BUSINESSES 236.1 252.7 CopRice Driving Performance • Volume growth in companion $252.7m 139.9 114.5 161.1 animal. • Sales pricing strategies to help ^7% The ongoing execution absorb inflationary pressures and F
Slide 21: Corporate Overview
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL PROFIT Overview EBITDA ($m) BUSINESSES 47.3 48.9 Corporate The Corporate segment captures the cost of holding and financing $48.9m 34.0 26.0 26.4 assets that are utilised by both the Australian Rice Pool Business ^3% A strong portfolio of and the Prof
Slide 22: Performance Drivers
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL FY24 Performance Drivers Rice Pool International Rice Rice Food Riviana CopRice Driving Performance Overall volume growth Stronger USD favouring exports Cost saving initiatives and operational improvements Normalisation of shipping conditions and cost
Slide 23: Changes to NSW Rice Vesting
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL Changes to NSW Rice Vesting After consulting with all major stakeholders, on 6th June 2024 the NSW Government introduced legislation to end the current rice vesting arrangements by 1 July 2025. Rice vesting arrangements continue to apply for CY24 and
Slide 24: Outlook
FY24 YEAR IN REVIEW - REALISING GLOBAL POTENTIAL Following a strong year of growth in Paddy price and crop outlook FY24, SunRice Group is seeking to The CY24 Riverina harvest was another repeat the exceptional performance at large crop at approximately 618,000 Outlook both the top and bottom line in
Slide 25: Realising Global Potential
FY24 YEAR IN REVIEW REALISING GLOBAL POTENTIAL