Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Halcyon Agri — H1 2021 Earnings Presentation
18 slides from Singapore Exchange's earnings presentation, Aug 12, 2021
Slide 1: H1 2021 Results Presentation
H1 2021 Results Presentation 12 August 2021
Slide 2: Important Notice
Important Notice This presentation has been prepared by Halcyon Agri Corporation Limited (“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 ar
Slide 3: Overview of movement in SICOM TSR20 1st position
Overview of movement in SICOM TSR20 1st position 2,100 FY2020 2,000 FY2021 1,900 1,800 1,700 1,600 1,500 1,400 1,300 1,200 1,100 1,000 900 Average Q1 2020: US$1,333; Average Q2 2020: US$1,108; Average Q3 2020: US$1,280; Average Q4 2020: US$1,544; Average Q1 2021: US$1,672 Average Q2 2021: US$1,652 A
Slide 4: H1 2021 achievements and key strategies
H1 2021 achievements and key strategies H1 2021 milestones Mar 2021 May 2021 Jun 2021 1. SGX’s investment in HeveaConnect, . Successfully completed 3-year Launched the Cameroon Outgrower with Halcyon Agri ceding its committed syndicated loan of up to Programme. The programme seeks to controlling sta
Slide 5: Group Financial Highlights
Group Financial Highlights
Slide 6: H1 2021 key financial figures
H1 2021 key financial figures Volume Average selling price Gross profit 657,634 mT US$1,752 US$73.1m +24.0% +20.6% +116.6% Profit before tax US$0.2m Positive turnaround EBITDA Term debt to equity* Operating profit US$17.9m 0.72x US$8.8m Positive turnaround Reduced from 1.04x Positive turnaround Note
Slide 7: H1 2021 results review – Improvement in financial numbers
H1 2021 results review – Improvement in financial numbers For the half year ended 30 June H1 2021 H1 2020 ▲% Factors Sales volume (mT) 657,634 530,401 24.0% • Due to robust demand for the Group's rubber products Average selling price (US$/mT) 1,752 1,452 20.6% • Buoyed by strong natural rubber price
Slide 8: H1 2021 results review – Turnaround in operating profit
H1 2021 results review – Turnaround in operating profit Changes in OP - H1 2020 v H1 2021 Business rationalisation H1 2020 OP Volume Margin SG&A changes Forex expenses Other income H1 2021 OP Contributed by a 24% jump in volume in line with demand recovery upon resumption of (3.2 ) downstream activi
Slide 9: H1 2021 results review – Turnaround in operating profit
H1 2021 results review – Turnaround in operating profit Changes in OP - H2 2020 v H1 2021 H2 2020 OP Volume Margin SG&A changes Forex Exceptional charges Other income H1 2021 OP H1 2021 was significantly lower than H2 2020(1) due to the absence of exceptional charges 2.5 US$1.8m loss in H1 2021 vs U
Slide 10: Cash flows
Cash flows Half year ended 30 June US$m 2021 2020 Operating cash flows before working capital changes 21.2 6.5 Changes in working capital (30.2) 91.4 Payment of taxes and working capital loan interests (7.9) (7.2) Cash flow (used in)/generated from operating activities (16.9) 90.8 Cash flow used in
Slide 11: Balance sheet overview
Balance sheet overview US$ in millions 30-Jun-21 31-Dec-20 30-Jun-20 31-Dec-19 Assets partially funded by debt Total net working capital employed 665.4 652.1 590.0 650.5 Net working capital assets 568.2 544.8 424.1 540.9 Cash and cash equivalents 35.1 45.7 112.0 57.9 Loan receivables 62.1 61.7 53.9
Slide 12: Industry Outlook
Industry Outlook Positive Factors Counteracting Factors 1. OECD raised its 2021 global growth forecast from 1. Ongoing global supply chain constraints and 4.2% to 5.8%; IMF lifted its global growth outlook disruptions could eventually impact trade flow. for 2022 by 50 basis points to 4.9%. 2. Possib
Slide 13: Segmental Performance
Segmental Performance
Slide 14: Halcyon Rubber Company (HRC)
Halcyon Rubber Company (HRC) Revenue (US$m)1 Sales Volume (mT)1 • H1 2021 sales volumes rose 29.3% 2,100.0 from H1 2020, returning to pre- 867.3 497,494 488,434 508,128 COVID levels as HRC capitalised on 1,750.0 724.9 680.6 448,572 improved demand in the tyre 649.1 393,032 1,400.0 553.2 sector. Coup
Slide 15: CMC International (CMCI)
CMC International (CMCI) Revenue (US$m)1 Sales Volume (mT)1 • Increase in H1 2021 revenue 2,100 326.9 292.3 302.6 285.8 185,770 192,778 188,680 176,002 despite slight volume 1,750 247.5 161,140 reduction due to realisation of 1,400 higher average selling price. 1,050 • H1 2021 gross profit almost 70
Slide 16: CMC Plantations (CMCP)
CMC Plantations (CMCP) Revenue (US$m)1 Sales Volume (mT)1 • Increase in H1 2021 revenue 2,100 18.4 and sales volume against H1 12,332 17.3 11,460 2020 in line with stronger 1,750 655 2,428 14.6 rubber prices, opening of new 1,400 10.6 8,258 areas and maturing 7,262 1,050 8.4 871 5,727 2,196 plantati
Slide 17: Our plantations are in gestation phase
Our plantations are in gestation phase Group’s Plantations Profile1(ha) Plantation yields2 (mT) Plantation Capex (US$m) Average age of Culmulative total trees (Years) 31,346 Cameroon 13.6 since H1 2019 Malaysia 3.1 79.3 6,667 19.6 Ivory Coast 17.0 606 5,511 17.8 16.5 16,409 716 14.0 3,366 2,887 11.4
Slide 18: Follow us on social media! Thank you!
Follow us on social media! Linkedin: Halcyon Agri Twitter: @HalcyonAgri Wechat: HalcyonAgri Thank you!