Kernel Holding S.a. · GPW:KER
Kernel — Q4 FY2010 Earnings Presentation
11 slides from Kernel's earnings presentation, 2010
Slide 1: Fourth Quarter FY2010 Results
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of the
Slide 3: Q4 FY2010 Financial Highlights
Q4 FY2010 Financial Highlights(1) Amounts in USD millions, except for EPS and ratios Q4 FY2009 Q4 FY2010 % change Revenue 181.2 238.5 31.6% Operating profit (EBIT) 24.4 40.9 67.6% Net profit(2) 21.7 30.5 40.6% EBITDA(3) 29.6 48.6 64.2% Cash 129.3 59.5 (54.0)% EPS(4) 0.32 0.43 Net Debt / EBITDA(5) 0.
Slide 4: 12 month-period Financial Highlights
12 month-period Financial Highlights (1) 12 months 12 months Amounts in USD millions, except for EPS ended ended % change 30 June 2009 (2) 30 June 2010 (3) Revenue 1 047.1 1 020.5 (2.5)% Operating profit (EBIT) 166.6 168.2 1.0% Net profit (4) 135.5 153.0 12.9% EBITDA 190.1 190.7 0.3% EPS 1.97 2.19 (
Slide 5: Q4 Key Drivers
Q4 Key Drivers Markets flat prices in grain and oil throughout the fourth quarter 35% year-on-year decrease in average oil and grain prices for the quarter Strategy implementation consolidation of Allseeds production assets 125% year-on-year increase in sunflower seed crush, leading to 84.3% year-on
Slide 6: Q4 FY2010 Income Statement Highlights
Q4 FY2010 Income Statement Highlights (1) Amounts in USD millions, except for EPS and margins Q4 FY2009 Q4 FY2010 % change Revenue 181.2 238.5 31.6% Operating profit (EBIT) 24.4 40.9 67.6% Net profit (2) 21.7 30.5 40.6% EBITDA 29.6 48.6 64.2% EPS 0.32 0.43 Gross margin 27.0% 28.9% Operating (EBIT) m
Slide 7: Q4 FY2010 Balance Sheet Highlights
Q4 FY2010 Balance Sheet Highlights (1) Amounts in $m June 30 2009 March 31 2010 June 30 2010 Invested Capital Cash & cash equivalent 129.3 14.8 59.5 Net trade accounts receivable 32.4 42.9 65.0 Inventory 99.1 190.5 147.8 Of which: Readily Marketable Inventories (2) 94.9 186.8 142.5 Other currents as
Slide 8: Q4 FY2010 Cash Flow Highlights
Q4 FY2010 Cash Flow Highlights (1) Amounts in USD millions Q4 FY2009 Q4 FY2010 Operating profit before working capital changes 29.0 49.4 Changes in working capital (5.4) 48.8 Cash obtained from / (used in) operations 23.6 98.2 Finance costs paid (3.0) (8.6) Income tax paid (0.06) (0.1) Net cash obta
Slide 9: Q4 FY2010 Segmental Results
Q4 FY2010 Segmental Results Revenue (1), USD million Operating profit (2), USD million Operating margin, % Tonnage (3) % % FY09 FY10 FY09 FY10 % change FY09 FY10 FY09 FY10 change change Bottled oil 16.8 21.1 25.6% 3.2 3.8 18.8% 19.0% 18.0% 16 224 20 599 27% Bulk oil 55.5 169.2 204.9% 11.4 33.0 189.5
Slide 10: Liquidity position & credit metrics
Q4 FY2010 Liquidity position & credit metrics Amounts in USD millions, except ratios Q4 FY2009 Q3 FY2010 Q4 FY 2010 Cash 129.3 14.8 59.5 Inventory 99.1 190.8 147.8 Of which: Readily Marketable Inventories 94.9 186.8 142.5 RMI/Inventories 95.8% 97.9% 96.4% Gross interest-bearing debt 294.6 306.0 345.
Slide 11: FY2011 guidance
FY2010 Outlook FY2011 guidance USD 1 300 million Revenue USD 255 million EBITDA USD 195 million Net income Q4 FY2010 11