Heron Lake BioEnergy — FY2010 Earnings Presentation
8 slides from Heron Lake BioEnergy's earnings presentation, Jan 21, 2011
Slide 1: Financial Information
Financial Information The following summary financial and operational information for the quarter and fiscal year ended October 31, 2010 reflects preliminary results that have not been audited or reviewed by the company’s auditors. This preliminary summary financial and operational information is su
Slide 2: Fiscal Year Ended October 2010
Fiscal Year Ended October 2010 HLBE used 19.2 million bushels corn HLBE sold 53.4 million gallons ethanol HLBE sold 119,000 tons of DDGS
Slide 3: Operational Information
Year Ended Oct. 31, 2009 Year Ended Oct. 31, 2010 Ethanol Gallons Sold 46.4 million 53.4 million Ethanol Price Range $1.40 - $1.80 $1.47 - $2.35 Ethanol Average Price $1.52 $1.70 Corn Bushels Purchased 15.6 million 20.1 million Corn Average Price $4.09 $3.69 Total Corn Purchased $63.82 million $74.3
Slide 4: HLBE Consolidated Balance Sheet
Oct. 31, 2008 (millions) Oct. 31, 2009 (millions) Oct. 31, 2010 (millions) Total Assets $ 133.4 $ 113.1 $ 109.5 Total Liabilities $ 82.8 $ 73.8 $ 64.1 Members’ Equity $ 50.6 $ 39.3 $ 45.4 Units Outstanding 27.1 27.1 30.2 Book Value $ 1.85 $ 1.43 $ 1.49 HLBE Consolidated Balance Sheet
Slide 5: HLBE Consolidated Income Statement
HLBE Consolidated Income Statement 1st Qtr. Jan. 31, 2009 2nd Qtr. April 30, 2009 3rd Qtr. July 31, 2009 4th Qtr. Oct. 31, 2009 1st Qtr. Jan. 31, 2010 2nd Qtr. April 30, 2010 3rd Qtr. July 31, 2010 4th Qtr. Oct. 31, 2010 Ethanol Sales $ 13.8 $ 16.7 $ 17.9 $ 22.0 $ 23.7 $ 21.1 $ 19.8 $ 26.0 Total Rev
Slide 6: HLBE Consolidated Income Statement Month Ended November 30, 2010
HLBE Consolidated Income Statement Month Ended November 30, 2010 Ethanol Sales $ 12.1 Total Revenue $ 13.7 COGS $ 12.0 Gross Margin $ 1.7 Net Income $ 1.2
Slide 7: Total Bank Debt
October 31, 2007 Term $59,583,000 Revolver 1,116,505 Operating 6,974,235 $67,673,740 October 31, 2010 Term $48,967,611 Revolver 1,155,872 Operating $ 3,500,000 $53,623,483 Total Bank Debt
Slide 8: Working Capital Calculation
As of October 31, 2010 Required Working Capital – As of October 31, 2008 $3,000,000 Required Working Capital – As of October 31, 2009 $5,000,000 (a) Current Assets $18,254,313 (b) Available Commitment on the Term Revolving Loan $2,344,128 (c) Total Current Assets (line (a) plus line (b) $20,598,441