Seafarms Group Limited · ASX:SFG
Seafarms — Shareholder Meeting (November 2022)
19 slides from Seafarms's shareholder meeting presentation, Nov 30, 2022
Slide 1: Project Sea Dragon Update (ASX Announcement)
ASX Announcement | 30 November 2022 Seafarms Group Limited (ASX: SFG) SFG ASX Announcement No: 741 For personal use only Project Sea Dragon Update (This statement summarises key parts of the CEO AGM Presentation which follows this document) At the Seafarms Group Limited (ASX: SFG) AGM today the Comp
Slide 2: Distribution, product placement and next steps
Domestic distribution Logistics providers to major supermarkets and major customers confirmed that the proposed PSD transit times and logistics arrangements are sound. Customers confirmed that the remaining shelf life after transport was acceptable. For personal use only International product placem
Slide 3: Rod Dyer, CEO – Business Update
For personal use only Rod Dyer, CEO – Business Update Taking stock and building forward momentum 1
Slide 4: Disclaimer
Disclaimer While management believes there is reasonable basis for the material contained in this presentation it is provided for information purposes only. The information in this presentation is in For personal use only a summary form, does not propose to be complete and is not intended to be reli
Slide 5: Agenda
Agenda For personal use only Our Year Financial Results Overview Operating Performance Project Sea Dragon Update Status of Construction Current status of the Assessment Final Observations Note: Photo on first slide is Seafarms Groups’ Farm 2 Taking stock and building forward momentum 3
Slide 6: Our year
Our year It’s been a turbulent year for Seafarms since the successful capital raise early in the previous financial year. For personal use only July 2021: the successful equity raise in July 2021 enabled the construction of Project Sea Dragon to commence. July 2021: Seafarms management commits to a
Slide 7: Financial Results
Financial Results Our financial results reflect the accounting treatment of previous For personal use only expenditure as a result of the change in timing for Project Sea Dragon 2022 2021 Net Profit after Tax ($85.435m) ($25.776m) Project Sea Dragon construction costs expensed ($34.340m) $Nil
Slide 8: Financial Position
Financial Position For personal use only 2022 2021 Net Assets $50.309m $5.033m Cash on hand $36.196m $0.497m Net current assets $34.469m ($7.224m) Provision for contractual liabilities* $8.730m $0.0m *included in net current assets The provision for contractual liabilities is a provision to settle o
Slide 9: Existing Operations Update
For personal use only Existing Operations Update Taking stock and building forward momentum 7
Slide 10: Operating Performance
Operating Performance Total production at Seafarms Queensland operations was 907 For personal use only tonnes (762 tonnes of Black Tiger prawns and 145 tonnes of Banana prawns). Lower production the result of reduced stocking to lessen market risk exposure to COVID-19 and a significant disease event
Slide 11: Project Sea Dragon Update
For personal use only Project Sea Dragon Update Taking stock and building forward momentum 9
Slide 12: Construction status
Construction status Over 200,000 m3 For personal use only Sea Water Intake of fill in Hardstand embankments for nursery ponds and Sea Water Intake Channel Wall the seawater intake. 1 Ha Nursery Ponds Area for 10 Ha Ponds Road Taking stock and building forward momentum 10
Slide 13: Breeding Program Update
Breeding Program Update For personal use only Construction and breeding program restarted Breeding program output slowed but now re-energised Spawning 3rd generation families from now to Jan. 23 Breeding program will enable us to eliminate the need for wild catch broodstock within a few years. Progr
Slide 14: Risk assessment
Risk assessment Intensity in 10 Ha ponds For personal use only multiple farms in Ecuador of more than 1,000 Ha running biomass* assumptions and yields* similar to PSD models over 15,000 Ha of ponds in Ecuador running biomass of 5.5 Tonnes per Ha and approx. 30,000 Ha more than 4.0 Tonnes per Ha. Dom
Slide 15: Risk assessment - 10 Ha Ponds
Risk assessment - 10 Ha Ponds A small sample of the 10 Ha ponds in Ecuador. (This is not an asset of Seafarms Group) For personal use only 14Ha Inset - 14 Ha Pond 10Ha PSD biomass 19Ha Approx 700 Ha and yield design assumptions are supported by The number of aerators and feeders on these ponds 5Ha V
Slide 16: Final Observations
Final Observations Existing Operations The new operations management team has implemented For personal use only changes to water systems and operating practices which has resulted in reduced risk; the business is performing ahead of budget and on an improved footing. Project Sea Dragon After visitin
Slide 17: Questions and thank you
For personal use only We invite general questions and thank you for your participation today. Taking stock and building forward momentum 15
Slide 18: Thank You
For personal use only Thank You Taking stock and building forward momentum 16
Slide 19: Contact Us
For personal use only Contact Us Level 10, 490 Upper Edward Street Spring Hill QLD 4000 PO Box 252 Spring Hill QLD 4004 T. 61 7 3248 0222 E. info@seafarms.com.au