Ridley Corporation Limited · ASX:RIC

Ridley — Investor Presentation (April 2009)

21 slides from Ridley's investor presentation, Apr 29, 2009

  1. Slide 1: CEO Investor Presentation

    ASX Release – ASX: RIC For personal use only Ridley Corporation Limited CEO Investor Presentation 28 April 2009

  2. Slide 2: Ridley Corporation Ltd

    For personal use only RIDLEY CORPORATION LTD

  3. Slide 3: Introduction

    Introduction For personal use only ƒ Market leader in both salt and stockfeed ƒ Market Capitalisation - $250m ƒ Ranked 260 on S&P 300 as at April 17, 2009 ƒ Significant land development opportunities ƒ Strengthened balance sheet due to recent restructure. ƒ Capital structure 307.8m shares on issue 2

  4. Slide 4: Financial Overview

    Financial Overview For personal use only Underlying 1st F09 F08 F07 F06 1st Half F09 Sales A$M 451.9 451.9 837.6 758.1 578.6 EBITDA A$M 25.0 25.0 44.6 45.4 38.9 EBIT A$M 19.4 19.4 32.2 33.8 28.3 NPAT A$M 9.2 (50.0) 10.5 22.7 27.7 Significant (6.9) (10.4) (1.1) - items (net) A$M NTA A$M $0.89 $0.98 $

  5. Slide 5: Ridley AgriProducts

    For personal use only Ridley AgriProducts

  6. Slide 6: Ridley AgriProducts

    Ridley AgriProducts For personal use only ƒ Ridley AgriProducts is Australia’s leading supplier of stockfeed, approx 25% market share. ƒ 15 stockfeed mills, one aqua feed mill and two supplement manufacturing plants throughout southern and eastern Australia. ƒ Producing for the beef, dairy, pig, pou

  7. Slide 7: Ridley AgriProducts

    Ridley AgriProducts For personal use only Total Tonnes F’08 – 1,610,251 2.3% 5.8% 1.4% 20.0% 0.5% Dairy Beef Poultry 23.3% 4.7% Pig Sheep Supplements Equine Other 42.1% 6

  8. Slide 8: Ridley AgriProducts Recent Developments

    Ridley AgriProducts Recent Developments For personal use only ƒ 85% tonnes sold to intensive Underlying F08 F07 F06 1st Half F09 poultry, pork, dairy sectors Sales 399 742 667 492 ƒ $5M costs removed from A$M business FY 2009 EBITDA* 14 23 26 22 A$M EBIT* 10 15 18 16 ƒ Centralised Procurement, A$M L

  9. Slide 9: Ridley AgriProducts – Outlook FY 2010

    Ridley AgriProducts – Outlook FY 2010 For personal use only ƒ Stable poultry, pork volumes and margins ƒ Ingredient prices – similar to 2nd Half 2009 but volatility likely ƒ Full impact of restructuring and cost reductions ƒ New ERP system 1st Half 2010 – efficiencies should flow 2nd Half 2010 ƒ Mar

  10. Slide 10: Cheetham Salt

    For personal use only Cheetham Salt

  11. Slide 11: Cheetham Salt

    Cheetham Salt For personal use only ƒ Operates 12 solar salt fields and 11 refineries ƒ Cheetham Salt distributes salt throughout Australia, South East Asia and the Pacific region. ƒ Supplies salt for every need – cooking and table salt, pool salt, to entire shiploads of industrial salt. ƒ Cheetham

  12. Slide 12: Cheetham Salt - Financials

    Cheetham Salt - Financials For personal use only 1st F08 F07 F06 Half F09 CHEETHAM SALT A$M A$M A$M A$M Sales 52 95 91 87 EBITDA* 11 22 21 21 EBIT* 9 18 17 17 Funds employed 218 213 207 206 ROFE 8.4% 8.6% 8.2% 8.3% ASSOCIATES Equity profits 4 7 6 6 Investments in associates 44 44 44 44 *Excludes sig

  13. Slide 13: Cheetham Salt

    Cheetham Salt For personal use only Tonnage History F00 – F07 Total Tonnes F’08 – 1,220,999 1,300 1,200 5.6% 2.5% 1,100 9.7% 1,000 Chemical 900 Food 3.2% Hide 800 Pool 700 4.7% Stockfeed 600 Export Indonesia 500 5.8% Other 60.6% 400 300 7.8% 200 100 2000 2001 2002 2003 2004 2005 2006 2007 Total Tonn

  14. Slide 14: Cheetham (Aust) Strengths

    Cheetham (Aust) Strengths For personal use only ƒ Large contracted domestic volume - $11.2M margin ƒ Strategic salt production locations ƒ Market structure / Cheetham’s position ƒ Distribution complexity ƒ Salt – low cost but essential ingredient for most businesses 13

  15. Slide 15: Land Development

    For personal use only Land Development

  16. Slide 16: Land Development

    Land Development For personal use only ƒ Land Development • Opportunities in SA, Vic and Qld • Alliance with Delfin Lend Lease • Dry Creek potential development • Feasibility study outcome due June 2009 • Value to be realised over time – currently approx $80m 15

  17. Slide 17: Recent Developments

    For personal use only Recent Developments

  18. Slide 18: Ridley Corporation - Recent Developments

    Ridley Corporation - Recent Developments For personal use only ƒ Ridley Inc sale - $83M net proceeds ƒ Debt as at 31st December 2008 - $88M • Gearing 30% (Net Debt / Equity) ƒ Head Office functions relocated to Melbourne as at 31st March 2009 ƒ Banking facilities extended to December 2011 • National

  19. Slide 19: Ridley Corporation Ltd Outlook

    For personal use only Ridley Corporation Ltd OUTLOOK

  20. Slide 20: Ridley Corporation Outlook

    Ridley Corporation Outlook For personal use only ƒ Operating businesses to be resilient despite economic conditions ƒ 2010 will see benefits of restructuring, cost reductions and lower debt flow through ƒ Continued focus on cost reduction and improved efficiencies ƒ Feed Milling consolidation opport

  21. Slide 21: Corporate Summary: Major Shareholders

    Corporate Summary Major Shareholders For personal use only Investors Mutual Limited 18.40% Lazard Asset Management Pacific Company 11.83% Maple-Brown Abbott Ltd. 6.65% Orbis Investment Management (Australia) Pty. Limited 6.61% DFA Australia Ltd. 5.77% Paul William Holmes A Court 5.00% 20

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