Rural Funds Group · ASX:RFF
Rural Funds — RFM Poultry — FY2015 Earnings Presentation
20 slides from Rural Funds's earnings presentation, Sep 9, 2015
Slide 1: RFM Poultry (NSX: RFP) Financial results presentation
RFM Poultry (NSX: RFP) Financial results presentation year ended 30 June 2015 9 September 2015 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Rural Funds Management Limited (ACN 077 492 838) (“RFM”) as the responsible entity of RFM Poultry (ARSN 164 851 218) (“RFP”). The information contained in this presentation is not investment or financial product advice and is not intended to be used
Slide 3: Agenda
Agenda RFM attendees 1. Highlights and results summary Stuart Waight Chief Operating 2. Forecasts Officer 3. Fund and operational update Daniel Yap Financial Controller 4. Appendices James Powell Investor Relations & Distribution Manager 3
Slide 4: Highlights and results
Highlights and results
Slide 5: Highlights FY2015
Highlights FY2015 Implemented simplified performance system for Griffith farms Outsourced maintenance activities on Griffith farms Achievements Sale facility for small parcels completed 24 September 2014 17% register turnover and 9% trading price improvement Net profit after tax of $1.5m
Slide 6: Results summary
Results summary Metrics as at 30 June 2015 Results in line with expectations Income following market guidance updates on Revenue 25,746,811 18 May and 12 June 2015 Net profit after income tax 1,499,214 Earnings per unit (cents) 21.96 Results reflect 12 months of operations Portfolio to 30 June 2
Slide 7: FY2015 results
FY2015 results Summarised statement of comprehensive income FY15 profit was higher than usual. Year ended Period ended This was primarily attributable to 30 June 2015 30 June 2014 compensation for higher energy costs incurred in FY14 due to: Revenue 25,746,811 13,163,177 – Introduction of the RSPC
Slide 8: FY2015 results
FY2015 results Summarised balance sheet Net assets $7.5m As at As at 30 June 2015 30 June 2014 NAV per unit $1.09, up from $1.03 as at 31 December 2014 Cash and cash equivalents 6,175,672 4,065,890 Trade and other receivables 2,711,964 4,198,374 $2.5m of cash held in term deposits Other curren
Slide 9: Forecasts
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Slide 10: Forecasts
Forecasts FY16 forecast distributions (inc franking)1 FY15 result was above expectation, mainly attributable to delayed compensation for higher Record date cpu energy costs incurred in FY14. Actual energy costs 30 September 2015 3.59 for FY15 have normalised, which will lead to a comparative reduc
Slide 11: Fund and operational update
Fund and operational update
Slide 12: Fund and operational update
Fund and operational update Manager maintains a focus on: – Continuous improvement of operations – Relationship with processor – Seeking to improve awareness of RFP to increase liquidity and fair valuation – Investigating growth opportunities All poultry sheds in Griffith leased by RFP were endo
Slide 13: Biosecurity
Biosecurity Disease is managed in Australia through − Strict import restrictions on fresh chicken meat; and − management of the chicken growing supply chain including broiler farms such as RFP’s operation RFP’s biosecurity − In close consultation with Baiada, RFP manages disease through the Nati
Slide 14: Appendices
Appendices
Slide 15: FY16 forecast - assumptions
FY16 forecast - assumptions Notes and assumptions to FY16 forecast financial results The forecast FY16 profit range is subject to the attendant poultry growing operating risks including disease, growing performance and associated bonuses and penalties, seasonal conditions, operating expenses inclu
Slide 16: RFP further details
RFP further details One of Australia’s largest contract chicken Lease information growers (growing ~30 million birds p.a.) 17 poultry farms consisting of 154 successfully managed by RFM since 2003 sheds (13 poultry farms with 134 13 poultry farms consisting of 134 sheds located Location sheds lo
Slide 17: RFP further details
RFP further details ~60 day cycle occurring 5-6 times per year on each farm Days: 1-7 8-28 29-54 55-60 • Day-old chicks arrive • Chicks leave brooding area into • Growing continues Sheds cleaned-out: • Placed in brooding area shed floor space • Processor conducts • Removal of old bedding litter with
Slide 18: About RFM
About RFM RFM is one of the oldest and most experienced agricultural funds management organisations in Australia Rural Funds Management Limited (RFM) is an experienced fund and asset manager that specialises in Australian agriculture Established in 1997, RFM has historically operated as an exter
Slide 19: RFM board and management team
RFM board and management team RFP is externally managed and governed by a highly experienced management team and board Board of directors Contact • Joined RFM in 2003 • RFM Company Secretary • Former director of broking firm JBWere with more than • Responsible for reviewing and optimising the 30 yea
Slide 20: Corporate information
Corporate information Rural Funds Management Limited ACN 077 492 838 AFSL 226701 Canberra Office Level 2 2 King Street Deakin ACT 2600 Telephone: +61 2 6203 9700 Facsimile: +61 2 6281 5077 Website: www.ruralfunds.com.au For further information: For media enquiries: Investor relations enquiries: Davi