AGRANA Beteiligungs-AG · VIE:AGR
AGRANA Beteiligungs-AG — Q1 2023|24 Earnings Presentation
31 slides from AGRANA Beteiligungs-AG's earnings presentation, Jul 6, 2023
Slide 1: Results for the first quarter of 2023|24
FRUIT STARCH SUGAR T h e n a t u ra l u p g ra d e AGRANA Beteiligungs-AG Results for the first quarter of 2023|24 Presentation for investors and analysts AGRANA Results for Q1 2023|24 | 6 July 2023 Vienna, 6 July 2023 1
Slide 2: Strong performance in the first quarter
Q1 2023|24 STRONG PERFORMANCE IN THE FIRST QUARTER ▪ Successful start to the 2023|24 financial year ▪ We have delivered on our Q1 guidance of significantly surpassing the year-earlier quarter ▪ Despite challenges ahead and continued volatility, we reaffirm our outlook for 2023|24 ▪ Good progress on
Slide 3: Overview – Key figures
Q1 2023|24 OVERVIEW – KEY FIGURES Revenue: € 966.1 m EBITDA1: € 90.6 m (+9.0%; Q1 2022|23: € 886.3 m) (+25.7%; Q1 2022|23: € 72.1 m) Operating profit2: € 64.9 m EBIT: € 63.5 m (+44.5%; Q1 2022|23: € 44.9 m) (+23.1%; Q1 2022|23: € 51.6 m) Earnings per share: € 0.58 (+5.5%; Q1 2022|23: € 0.55) 55 Prod
Slide 4: Annual general meeting on 7 July 2023
FINANCIAL YEAR 2022|23 ANNUAL GENERAL MEETING ON 7 JULY 2023 ▪ Presentation of the financial statements for 2022|23 ▪ Presentation will also include the core elements of the new AGRANA strategy ▪ Resolution on the appropriation of profits; distribution of a dividend of € 0.90 per share ▪ Resolution
Slide 5: Market environment
SE G ME N TS F R U I T, STAR CH AN D SU G AR MARKET ENVIRONMENT AGRANA Results for Q1 2023|24 | 6 July 2023 5
Slide 6: Market environment
Q1 2023|24 MARKET ENVIRONMENT ▪ Dairy market environment still challenging but showing signs of recovery -> supporting good development in fruit preparations business ▪ In the Starch segment, expectation of a challenging financial year was borne out in Q1 ▪ EBIT declined significantly, driven by a w
Slide 7: Ethanol and petrol prices
1 JANUARY 2008 – 3 JULY 2023 (EUR) ETHANOL AND PETROL PRICES FY 2023|24 € 1600 Average daily ethanol price in EUR/m³ (Ethanol T2 FOB Rdam EUR/cm Platts) Average daily petrol price in EUR/m³ (PREM UNL-10ppm/FOB RDAM BARG Platts) 1500 1400 3 July 2023: 1300 1200 Ethanol: 753.0 EUR/m3 1100 Petrol: 559.
Slide 8: EU and sugar world market prices
SUGAR PRICE REPORTING EU AND SUGAR WORLD MARKET PRICES € Source: Sugar Market situation; European Commission, published on 30 June 2023 AGRANA Results for Q1 2023|24 | 6 July 2023 8
Slide 9: Raw materials and production
SE G ME N TS F R U I T, STAR CH AN D SU G AR RAW MATERIALS AND PRODUCTION AGRANA Results for Q1 2023|24 | 6 July 2023 9
Slide 10: Raw materials and production
Q1 2023|24 RAW MATERIALS AND PRODUCTION Fruit segment: ▪ Berry juice processing season in the fruit juice concentrates business unit has just started ▪ Average raw material availability is assumed for the 2023 berry campaign Starch segment: ▪ Raw material prices in the first quarter of 2023|24 were
Slide 11: Commodity prices
WHEAT & CORN (EURONEXT, PARIS) COMMODITY PRICES 1 January 2006 – 30 June 2023 (EUR) FY 2023|24 Wheat (Paris) 30 June 2023: 230.8 EUR/t Corn (Paris) 30 June 2023: 230.5 EUR/t AGRANA Results for Q1 2023|24 | 6 July 2023 11
Slide 12: Focus on ESG
AG R AN A FOCUS ON ESG AGRANA Sustainability: www.agrana.com/en/sustainability AGRANA Results for Q1 2023|24 | 6 July 2023 12
Slide 13: Primary data collection project
AGRANA CLIMATE STRATEGY PRIMARY DATA COLLECTION PROJECT ▪ Project outline: in order to obtain a more precise overview of the most or least emission-intensive agricultural practices and factors influencing agricultural emissions, a project to collect primary data from suppliers of the most important
Slide 14: Investment
Q 1 2 0 2 3 | 24 INVESTMENT AGRANA Results for Q1 2023|24 | 6 July 2023 14
Slide 15: Investment overview
MOST IMPORTANT PROJECTS IN THE GROUP INVESTMENT OVERVIEW €m GROUP Q1 2023|24 15.5 FRUIT ▪ Replacement of the central cooling system in Centerville, TN, USA ▪ Acquisition of new stainless steel containers (representing asset 11.3 6.4 replacement and capacity expansion) in Mitry-Mory, France ▪ Expansi
Slide 16: Investment plan
OUTLOOK FOR 2023|24 INVESTMENT PLAN ▪ Total investment across the three business segments in the 2023|24 financial year, at Investment split 2023|24 approximately € 150 million (€ ~150 million) ▪ Is to significantly exceed both the 2022|23 value and this year’s budgeted depreciation of about 21% € 1
Slide 17: Financials
Q 1 2 0 2 3 | 24 FINANCIALS AGRANA Key Figures: www.agrana.com/en/ir/key-figures-agrana- group/key-figures AGRANA Results for Q1 2023|24 | 6 July 2023 17
Slide 18: Revenue by segment
Q1 2023|24 VS PRIOR YEAR REVENUE BY SEGMENT €m GROUP 966.1 FRUIT 886.3 ▪ Both in the fruit preparations and fruit juice concentrate 401.1 businesses, revenue expanded for price reasons 360.7 STARCH ▪ Stable revenue: lower sales volumes vs higher selling prices -0.6% 317.1 ▪ Customers now are not ful
Slide 19: EBIT by segment
Q1 2023|24 VS PRIOR YEAR EBIT BY SEGMENT €m FRUIT ▪ Earnings result in fruit preparations significantly above the year- ago level -> e.g. positive business performance in the Europe EBIT margin EBIT margin region (including Ukraine) Q1 2022|23 Q1 2023|24 ▪ Fruit juice concentrate business also furth
Slide 20: Consolidated income statement
CONSOLIDATED INCOME STATEMENT €m (condensed) Q1 2023|24 Q1 2022|23 Change Revenue 966.1 886.3 +9.0% EBITDA1 90.6 72.1 +25.7% Operating profit before except. items and results of equity-accounted JV 64.9 44.9 +44.5% Share of results of equity-accounted JV (1.8) 6.6 -127.3% Exceptional items 0.4 0.1 +
Slide 21: Energy costs in Q1 2023|24
ENERGY COSTS IN Q1 2023|24 €m GROUP Energy costs Energy mix of AGRANA Group 52.8 Biogas Biomass in FY 2022|23 2% 1% 46.4 9.2 Electricity 4% 14.0 m GJ consumption (scope 1+2) Cole and coke 7.2 5% Natural gas (incl. LNG) Steam Heating oil, diesel Renewable electricity 8% -0.6% 32.0 Natural gas (incl.
Slide 22: Net financial items | Tax rate
NET FINANCIAL ITEMS | TAX RATE €m Q1 2023|24 Q1 2022|23 Change Net interest expense (7.3) (2.0) -265.0% Currency translation differences (5.3) (2.6) -103.8% Other financial items (0.7) (1.2) +41.7% Total (13.3) (5.8) -129.3% €m Q1 2023|24 Q1 2022|23 Change Profit before tax 50.2 45.8 +9.6% Income ta
Slide 23: Consolidated cashflow statement
CONSOLIDATED CASHFLOW STATEMENT €m (condensed) Q1 2023|24 Q1 2022|23 Change Operating cash flow before changes in 98.5 68.9 +43.0% working capital Changes in working capital (182.6) (84.7) -115.6% Total of interest paid/received and tax (7.0) (6.4) -9.4% paid Net cash from operating activities (91.1
Slide 24: Consolidated balance sheet
CONSOLIDATED BALANCE SHEET €m (condensed) 31 May 2023 28 Feb 2023 Change Non-current assets 1,040.6 1,041.0 0.0% Current assets 2,001.2 1,962.1 +2.0% Total assets 3,041.8 3,003.1 +1.3% Equity 1,286.7 1,256.6 +2.4% Non-current liabilities 683.5 658.3 +3.8% Current liabilities 1,071.6 1,088.2 -1.5% To
Slide 25: Financial outlook
2 0 2 3 |24 FINANCIAL OUTLOOK AGRANA Results for Q1 2023|24 | 6 July 2023 25
Slide 26: AGRANA Group outlook for 2023|24
AGRANA GROUP OUTLOOK FOR 2023|24 EBIT 2023|24 Revenue 2023|24 ▪ Key sources of uncertainty for the forecast remain the war in Ukraine and its consequences. ▪ Due to the unpredictability of the further course of the war, effects such as exceptional cost increases and demand declines cannot be
Slide 27: AGRANA segments outlook for 2023|24
AGRANA SEGMENTS OUTLOOK FOR 2023|24 FRUIT STARCH SUGAR Revenue Revenue Revenue EBIT EBIT EBIT AGRANA Results for Q1 2023|24 | 6 July 2023 27
Slide 28: Outlook for second quarter 2023|24
AGRANA GROUP OUTLOOK FOR SECOND QUARTER 2023|24 Q2 2022|23 (3 months) EBIT adjusted*: € 48.4 million Q2 2023|24 (3M) EBIT / EBIT 2022|23 Revenue 2022|23 *Operating profit after results of equity-accounted JVs, but BEFORE exceptional items. AGRANA Results for Q1 2023|24 | 6 July 2023 28
Slide 29: Financial calendar
2023|24 FINANCIAL CALENDAR 7 July 2023 Annual General Meeting in respect of 2022|23 12 July 2023 Ex-dividend date 13 July 2023 Record date for dividend 14 July 2023 Dividend payment date 12 October 2023 EBIT 2022|23 Results for first half of 2023|24 11 January 2024 Revenue 2022|23 AGRANA Financial C
Slide 30: Disclaimer
DISCLAIMER This presentation is being provided to you solely for your information and may not be reproduced or further distributed to any other person or published, in whole or in part, for any purpose. This presentation comprises the written materials/slides for a presentation concerning AGRANA Bet
Slide 31: Contacts
CONTACTS Investor Relations Mr. Hannes Haider Phone: +43-1-211 37-12905 E-mail: investor.relations@agrana.com AGRANA Beteiligungs-AG Friedrich-Wilhelm-Raiffeisen-Platz 1 1020 Vienna, Austria www.agrana.com/en AGRANA Investor Relations: www.agrana.com/en/ir AGRANA Results for Q1 2023|24 | 6 July 2023
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