Kernel Holding S.a. · GPW:KER
Kernel — FY2016 Earnings Presentation
23 slides from Kernel's earnings presentation, October 2016
Slide 1: Company Presentation
KERNEL COMPANY PRESENTATION
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fair- ness, accuracy, completeness or correctness of the information or opinions contained herein. Neither
Slide 3: FY2016 highlights
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials FY2016 highlights Key highlights: USD million except ratios and EPS FY2016 FY2015(1) y-o-y ii EBITDA stood at firm 17% margin, amounting to USD 346.4 million, with a twofold P&L highlights increase in of our net profit to U
Slide 4: FY2016 segment results summary
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials FY2016 segment results summary Revenue, USD million EBITDA, USD million EBITDA margin, % Volumes, thousand tons FY2016 FY2015 y-o-y FY2016 FY2015 y-o-y FY2016 FY2015 FY2016 FY2015 y-o-y Sunflower oil Sunflower oil sold in b
Slide 5: Q1 FY2017 operations update
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Q1 FY2017 operations update Key highlights: Volume and tonnage Q1 FY2017 Q1 FY2016 y-o-y ii Strong crop production both in Ukraine and Russia (up 6% and 10% y-o-y respectively) along Grain sales, tons 1,182,572 927,446 27.5
Slide 6: FY2017 outlook
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials FY2017 outlook Sunflower oil ii In preparation for the upcoming marketing year, our Black Sea Industries, a crushing plant located in Chornomorsk (formerly Illichevsk), underwent improvements in its storage and pre-crush fa
Slide 7: Kernel at a glance
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Kernel at a glance Sunflower oil Stock information Exchange Warsaw Stock Exchange EBITDA $129m ii #1 sunflower oil producer and exporter in Ukraine. Stock quote currency PLN ii 3.5 million tons/year sunflower seed crushing
Slide 8: Our business model
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Our business model 1.8 MT (25%) 94 million liters 5.3 MT (75%) 1 Own farming 2 Third party farmers 3 Procurement 4 Silo storage 5 Sunflower seed processing plants 1.0 MT Sunflower oil 6 Grain export 0.9 MT Sunflower meal 7 B
Slide 9: Asset map
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Asset map Kursk Voronezh Chernihiv Lutsk Sumy Belgorod Rivne Kyiv Zhytomyr Kharkiv Lviv Ternopil Poltava Cherkasy Khmelnytskyi Vinnytsia Ivano-Frankivsk Uzhhorod Luhansk Kirovohrad Dnipropetrovsk Chernivtsi Zaporizhia Donet
Slide 10: Sunflower Oil
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Sunflower Oil www.kernel.ua Company presentation October 2016 10
Slide 11: Our business model
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Our business model ii #1 oilseed crusher in Ukraine; total capacity of 3.5 million tons of sunflower Sunflower seed industrial crushing capacity in Sunflower oil sold in bulk exports by Ukraine (million tons) destination (t
Slide 12: Sunflower oil in FY2016
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Sunflower oil in FY2016 Sunflower oil sold in bulk Sunflower oil sold in bulk EBITDA Sunflower oil sold in bulk (thousand tons) (USD/ton, %) ii While the supply of sunflower seed recovered to a normalized level in 201 187 2
Slide 13: Grain and Infrastructure
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Grain and Infrastructure www.kernel.ua Company presentation October 2016 13
Slide 14: Our business model
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Our business model Grain and oilseed production in Ukraine Grain and oilseed production in Russia ii Top grain exporter from the Black Sea region, with a market share in (million tons) (million tons) Ukraine of 9-12% and in
Slide 15: Grain and infrastructure in FY2016
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Grain and infrastructure in FY2016 Grain sales Grain segment’s EBITDA Grain export: (thousand tons) (USD/ton, %) 14.0 ii Grain sales volumes stood at 4.4 million tons, down 7% y-o-y, due to the 12.7 12.5 change in seasonali
Slide 16: Farming
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Farming www.kernel.ua Company presentation October 2016 16
Slide 17: Our business model
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Our business model Kernel’s farmed acreage crop mix ii Large-scale crop production on 390,000 hectares of leasehold farmland in Ukraine. 7% 9% 7% 7% ii A crop mix based on four crops allows us to focus on profits and techno
Slide 18: Farming in FY2016
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Farming in FY2016 Acreage harvested Farming segment EBITDA Farming: (thousand hectares) (USD/hectare, %) ii In FY2016, our farming division contributed 38% of the Group EBITDA, 391 376 389 thus having another year of stella
Slide 19: Crop production cycle in Ukraine
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Crop production cycle in Ukraine FY2015 FY2016 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Corn Land preparation Fertilization Planting Plant protection Harvesting Contrac
Slide 20: Financials
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Financials www.kernel.ua Company presentation October 2016 20
Slide 21: Balance sheet
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials Balance sheet Balance sheet highlights USD million FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 Invested capital Cash & cash equivalents 6.4 25.3 88.5 129.3 59.5 115.9 82.5 78.8 65.4 129.1 60
Slide 22: P&L and cash flow
Kernel at Sunflower Grain and a glance Oil Infrastructure Farming Financials P&L and cash flow P&L highlights USD million except ratios and EPS FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 Revenue 215.2 350.4 663.1 1,047.1 1,020.5 1,899.1 2,071.8 2,796.8 2,393.3 2,329
Slide 23: IR contact
IR contact Yuriy Kovalchuk Jamil Zakaraiev Corporate Investment Director Investor Relations Manager [email protected] [email protected] Tel.: +38 044 461 88 01, ext. 70-44 3 Tarasa Shevchenka Lane, Kyiv, Ukraine, 01001 Investor calendar ii Q1 FY2017 financial report 30 November 2016 ii Annual general