GrainCorp Limited (GNC) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Grain Corp Limited FY23 results briefing. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Robert Spurway, Managing Director and CEO. Please go ahead. Thank you and good morning everyone. Welcome back to those that have followed us for some time and welcome to anyone new joining the call for the first time. Before I start, I'll just acknowledge page three where Grain Corp would like to acknowledge the traditional owners of the land on which we meet. For those of us here in Sydney, that's the Gadigal people of the Eora Nation. We pay our respects to elders past and present. This morning, you'll hear from myself and our Chief Financial Officer, Ian Morrison, as we share the GrainCorp results for financial year 2023. Moving to slide four on the pack, I think the numbers speak for themselves. It was excellent all-round performance and an outstanding result from GrainCorp. EBITDA of $565 million, net profit after tax of $250 million, and a very strong return on invested capital of 18.6%. We again saw strong volumes of grain through our network at over 37 million tonnes, down only slightly on the year prior. Our oilseed crush volumes came in at just under 500,000 tonnes. It's the fifth year in a row that we've increased our throughput through crush volumes. Importantly, and a result we're proud of, very strong balance sheet at $349 million, and that's before the receipt of funds associated with the sale of the United Malt Holding. Ian Morrison will talk to the financial strength of the business...