Golden Agri-resources Ltd · SGX:E5H
Golden Agri-resources — 9M 2011 Earnings Presentation
23 slides from Golden Agri-resources's earnings presentation, Nov 11, 2011
Slide 1: Interim Performance Presentation
Interim Performance Presentation YTD Sep 2011 : nine-month period ended 30th September 2011 11 November 2011 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 Financial Highlights 5 Section 3 Plantation Highlights 10 Section 4 Downstream Highlights 16 Section 5 Growth Strategy 19 2
Slide 4: Executive Summary
ok agribusiness and food Section 1 Executive Summary
Slide 5: Executive Summary
Executive Summary Record nine months performance with palm products output and average CPO prices at historical high Price (US$/MT) EBITDA (US$ million) Output (‘000 MT) • Robust YTD Sep 2011 performance 800 2,000 Revenue $4,625 mn 100% 1,800 700 EBITDA $761 mn 80% 1,600 Net Profit1 $520 mn 105% 600
Slide 6: Financial Highlights
Section 2 Financial Highlights
Slide 7: Financial Performance – YTD Sep 2011
Financial Performance – YTD Sep 2011 US$ million YTD Sep 2011 YTD Sep 2010 Change Revenue 4,625 2,315 100% Gross Profit 1,450 567 156% EBITDA 761 424 80% Interest on borrowings -47 -33 42% Depreciation and amortisation -69 -61 13% Foreign exchange gain, net 30 18 66% Net Profit attributable to owner
Slide 8: Financial Summary – 3Q 2011
Financial Summary – 3Q 2011 US$ million 3Q 2011 3Q 2010 YoY 2Q 2011 QoQ Change Change Revenue 1,562 965 62% 1,601 -2% Gross Profit 422 225 87% 503 -16% EBITDA 200 163 23% 254 -21% Interest on borrowings -17 -13 32% -16 5% Depreciation and amortisation -24 -19 27% -23 7% Foreign exchange gain/(loss),
Slide 9: Segmental Results
Segmental Results Strong contribution from our Indonesia operations supported by China operations (in US$ million) Indonesia Operations China Operations YTD Sep 2011 YTD Sep 2010 Change YTD Sep 2011 YTD Sep 2010 Change Revenue 3,778 1,877 101% 847 438 93% Gross Profit 1,397 543 158% 53 25 112% Gross
Slide 10: Financial Position
Financial Position Strong balance sheet position with low gearing (in US$ million) 30-Sep-11 31-Dec-10 Change Total Assets 11,033 10,114 9% Cash and Short-Term Investments 574 276 108% Trade Receivables and Inventories 994 825 20% Fixed Assets1 8,530 8,270 3% Total Liabilities2 3,676 3,169 16% Inter
Slide 11: Plantation Highlights
Section 3 Plantation Highlights
Slide 12: Plantation Area
Plantation Area GAR is the largest Indonesian plantation company with integrated operations (in ha) 30 Sep 30 Sep 30 Sep 2010/2011 31 Dec 2011 2010 % increase 2010 Planted Area 448,924 435,021 3.2% 442,470 Nucleus 356,853 345,582 3.3% 352,124 Plasma 92,071 89,439 2.9% 90,346 Mature Area 391,130 363,
Slide 13: 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 1 Old 2 Total (in ha) (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) Sep 2011 Nucleus 49,655 85,502 138,980 72,220 10
Slide 14: Production Performance
Production Performance Production continued to show significant improvement both year-on-year and quarter-on-quarter YTD YTD Sep 2011 Sep 2010 Change 3Q 2011 2Q 2011 Change FFB Production (‘000 tonnes) 6,212 5,191 20% 2,190 2,058 6% Nucleus 4,662 3,910 19% 1,629 1,540 6% Plasma 1,550 1,281 21% 561 5
Slide 15: Sustained Production Growth
Sustained Production Growth Sustained production growth through consistent expansion and best plantation management practices, supported by unrivalled technology platform ‘000 MT 7,000 6,212 6,000 5,580 5,226 5,191 5,000 4,653 4,623 4,211 4,172 4,000 3,376 3,487 FFB (nucleus and plasma) 3,000 Palm P
Slide 16: RSPO Certification and Highlights
RSPO Certification and Highlights In September 2011, GAR received its first RSPO certification for 14,955 hectares of estates and one mill in North Sumatra under PT SMART Tbk This certification is part of the ongoing certification of GAR’s subsidiaries, which cover 103,953 hectares of plantations an
Slide 17: Downstream Highlights
Section 4 Downstream Highlights
Slide 18: Downstream – Indonesia Operations
Downstream – Indonesia Operations Consistent expansion of downstream capacity to capture growing production of our plantations Capacity (‘000 tpa) Our Brands 1,380 1,380 1,400 1,140 1,140 1,200 1,000 840 840 819 800 Kernel crushing capacity 549 600 459 Refinery capacity 324 324 369 400 200 0 2006 20
Slide 19: Downstream – China Operations
Downstream – China Operations China is one of the largest and fastest growing edible oils consumers GAR will strategically expand its presence in China through organic growth and acquisition: Construction of new vegetable oil refinery and soybean crushing facilities Developing distribution channels
Slide 20: Growth Strategy
ok agribusiness and food Section 5 Growth Strategy
Slide 21: Strategic Priorities
Strategic Priorities Build on core competitive strengths to maximise long-term shareholder returns Expand high-margin • Sustain growth through expansion of planted area upstream business • By way of green field and acquisition as and when opportunities arise • Increase downstream production capabili
Slide 22: Growth Strategy and Outlook
Growth Strategy and Outlook Growth Strategy in 2011 • Expanding palm oil plantations by approximately 20,000 hectares • Building milling capacity in line with the growth in fruits production • Constructing additional downstream processing capacity in strategic locations and extending distribution an
Slide 23: Contact Us
Contact Us If you need further information, please contact: Golden Agri-Resources Ltd c/o 108 Pasir Panjang Road #06-00 Golden Agri Plaza Singapore 118535 Telephone : +65 65900800 Facsimile : +65 65900887 www.goldenagri.com.sg Contact Person : Richard Fung (richard@goldenagri.com.sg) 22
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