Rusagro Group · RUS:RAGR
Rusagro — Ros Agro — Q1 2019 Earnings Presentation
21 slides from Rusagro's earnings presentation, May 20, 2019
Slide 1: Investors Presentation Q1 2019
ROS AGRO PLC Investors Presentation Q1 2019 20 May 2019
Slide 2: Table of Contents
Table of Contents 1 Summary Key Indicators (IFRS) Q1 2019 vs Q1 2018 3 2 Business Overview by division (IFRS) 9 3 Additional information 15 2
Slide 3: Section 1: Summary Key Indicators (IFRS)
Section 1 Summary Key Indicators (IFRS) Q1 2019 vs Q1 2018
Slide 4: Net revenue and Adjusted EBITDA vs Q1 2018
Net revenue, Adjusted EBITDA: Actual Q1 2019 vs Actual Q1 2018 Comments Net revenue (IFRS) Actual Q1 2019 vs Actual Q1 2018 37,000 861 (675) 32,167 Net Revenue increased by RR 16,899 million (+111%): 12,451 • Sugar sales decreased by RR 688 million (-13%) as a result of decrease in sales volume of s
Slide 5: Statement of Comprehensive Income (IFRS)
Statement of Comprehensive income (IFRS) ROS AGRO PLC RR million Varianсes Description Actual Q1 2019 Actual Q1 2018 Units % Sales 32,167 15,268 16,899 111 Net gain/ (loss) on revaluation of biological assets and (1,959) (359) (1,600) (446) agricultural produce Cost of sales (25,188) (11,953) (13,23
Slide 6: Debt profile (as of 31 March 2019)
Debt profile (as of 31 March 2019) Comments Debt position and liquidity management Variance • Gross debt decreased by RR 3,618 million (-4%) up to RR 91,483 million. in RR million 31 March 2019 31 December 2018 • Net debt decreased by RR 154 million to RR 54,188 million, including an increase of RR
Slide 7: Statement of financial position: key changes
Statement of financial position: Key changes 31 March 2019 vs 31 December 2018 Assets as of 31 March 2019 vs 31 December 2018 240,000 1,087 230,000 223,779 (4,377) 777 343 (613) 1,565 222,561 Comments 220,000 210,000 200,000 190,000 ASSETS 180,000 RR million 170,000 • PPE & LT biological assets* inc
Slide 8: Cash Flows: Actual Q1 2019 vs Actual Q1 2018
Cash Flows: Actual Q1 2019 vs Actual Q1 2018 Cash Flows according to Management view (Not IFRS presentation)* RR million Comments Actual Actual Variances Q1 2019 Q1 2018 Units % In Q1 2019 cash and cash equivalents decreased by RR -631 million from RR 1,476 Cash flows from operating activities milli
Slide 9: Section 2: Business Overview by division (IFRS)
Section 2 Business Overview by division (IFRS) Q1 2019 vs Q1 2018
Slide 10: Meat: Key indicators vs Q1 2018
Meat Key indicators Actual Q1 2019 vs Actual Q1 2018 (IFRS) Comments Meat: sales, Adjusted EBITDA and Adjusted EBITDA 8,000 margin Sales (RR +862 million, +20%): 35% • Due to the growth of sales volume and prices of processed pork. Sales price of livestock pigs decreased due to the change of proport
Slide 11: Sugar: Key indicators vs Q1 2018
Sugar Key indicators Actual Q1 2019 vs Actual Q1 2018 (IFRS) Comments Sugar: sales, Adjusted EBITDA and Adjusted EBITDA margin 6,000 Sales (RR -688 million, -13%): • Sugar sales decreased by RR 688 million as sales volume of sugar decreased due to the transfer 5,213 of the sales on spring and summer
Slide 12: Agriculture: Key indicators vs Q1 2018
Agriculture Key indicators Actual Q1 2019 vs Actual Q1 2018 (IFRS) Agriculture: sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 26% 7,500 Sales (RR +4,088 million, +279%): 25% • Sales increased thanks to an increase in sales price of all crops and sales volume of grains and 6,000 5,555 so
Slide 13: Oil & Fats: Key indicators vs Q1 2018
Oil & Fats Key indicators Actual Q1 2019 vs Actual Q1 2018 (IFRS) Oil & Fats: sales, Adjusted EBITDA and Adjusted EBITDA margin 9% 16,928 10% Comments 17,000 15,500 Sales (RR +12,451 million, +278%: EZHK RR +7,671 million; SAPP RR +8,289 million; Far East RR - 14,000 57 million and Eliminations RR -
Slide 14: Milk Products: Key indicators
Milk Products Key indicators Actual Q1 2019 (IFRS) 20 Milk&Cheese EBITDA Fact vs Plan, RR mln. 14 - 12 Comments 15 10 Net revenue decreased (RR -1,195 million, -17%). Lagging behind the plan to enter the RR,th. national retail chains with a consumer product affected the volume of sales (-17%) and a
Slide 15: Section 3: Additional information
Section 3 Additional information
Slide 16: Adjusted EBITDA Q1 2019 Breakdown by divisions
Adjusted EBITDA Q1 2019 (IFRS) Breakdown by divisions ROS AGRO PLC RR million 3M 2019 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 4,525 5,188 5,555 16,928 1,307 (1,337) 32,167 Net gain / (loss) on revaluation of biological assets and agricultural produce - (359) (1,403) - - (197
Slide 17: Adjusted EBITDA Q1 2018 Breakdown by divisions
Adjusted EBITDA Q1 2018 (IFRS) Breakdown by divisions ROS AGRO PLC RR million 3M 2018 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 5,213 4,326 1,467 4,478 75 (291) 15,268 Net gain/ (loss) on revaluation of biological assets and agricultural produce - (27) (281) - - (51) (359) Cos
Slide 18: Statement of financial position (IFRS)
Statement of financial position (IFRS) ROS AGRO PLC RR million 31 December Variances 31 March 2019 2018 Units % ASSETS Current assets Cash and cash equivalents 846 1,728 (883) (51) Restricted cash 148 0 148 301,682 Short-term investments 4,332 8,551 (4,219) (49) Trade and other receivables 6,104 6,2
Slide 19: Statement of financial position (IFRS) - continuance
Statement of financial position (IFRS) - continuance ROS AGRO PLC RR million 31 December Variances 31 March 2019 2018 Units % Liabilities and EQUITY Current liabilities Short-term borrowings 27,416 32,514 (5,098) (16) Trade and other payables 16,161 12,190 3,970 33 Current income tax payable 91 61 3
Slide 20: Statement of cash flows according to Management view
Statement of cash flows according to Management view (Not IFRS presentation) ROS AGRO PLC RR million Actual Actual Variances Q1 2019 Q1 2018 Units % Cash flows from operating activities Profit before income tax 1,535 233 1,302 560 Adjustments for non-cash and non-operating (income)/expenses, net: De
Slide 21: Statement of cash flows - continuance
Statement of cash flows according to Management view (Not IFRS presentation) – continuance ROS AGRO PLC RR million Actual Actual Variances Q1 2019 Q1 2018 Units % Cash flows from investing activities - - Purchases of property, plant and equipment (2,922) (2,637) (285) (11) Purchases of other intangi