Kernel Holding S.a. · GPW:KER
Kernel — H1 FY2013 Earnings Presentation
13 slides from Kernel's earnings presentation, Feb 28, 2013
Slide 1: H1 FY2013 Financial Results Presentation
H1 FY2013 FINANCIAL RESULTS PRESENTATION February 28, 2013
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 fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of th
Slide 3: H1 FY2013 results highlights
H1 FY2013 results highlights Key highlights Financial highlights(1), Amounts in USD millions, except for EPS and ratios 49.5% y-o-y growth in revenues to USD 1 474.1 million in H1 FY2013 driven by record bulk oil and grain sales volumes. H1 FY13 H1 FY12 % change H1 FY2013 EBITDA is USD 157.7 mil
Slide 4: Segment results summary
Segment results summary(1) Revenue(2), USD million EBITDA, USD million EBITDA margin, % H1 FY13 H1 FY12 % change H1 FY13 H1 FY12 % change H1 FY13 H1 FY12 Bulk oil 818.2 487.8 67.7% 101.9 74.5 36.7% 12.5% 15.3% Farming 150.8 104.9 43.8% 13.4 26.4 (49.3%) 8.9% 25.2% Grain 494.4 310.8 59.1% 13.3 13.2 0
Slide 5: Bulk and bottled oil segments performance
Bulk and bottled oil segments performance Bulk oil Bulk oil sales, tons Record sales volumes of 582 thousand tons of sunflower oil in bulk in H1 FY2013, up 73.6% from the same season a year ago. This growth resulted from a combination of a shorter maintenance 450 000 FY2011 FY2012 FY2013 period fo
Slide 6: Grain, silo and export terminals segments performance
Grain, silo and export terminals segments performance Grain Grain sales, tons Sales volumes increased to 1.6 million tons in H1 FY2013 from 1.0 million tons in H1 FY2012; the EBITDA margin was 2.7% in H1 FY2013 vs. 4.3% in H1 FY2012. 1 200 000 FY2011 FY2012 FY2013 We have changed the way we appr
Slide 7: Farming and sugar segments performance
Farming and sugar segments performance Farming Crop structure, FY2013-FY2014 A low autumn crop harvest impacted our profitability in the farming segment – our EBITDA stood at a mere USD 13.4 million during H1 FY2013 versus USD 26.4 million in H1 FY2012. The 5. 5. second quarter loss attributable t
Slide 8: Income Statement Highlights
Income Statement Highlights(1) Amounts in USD millions H1 FY2013 H1 FY2012 % change Revenue 1 474.1 985.9 49.5% Gross profit 233.4 218.9 6.6% Profit from operating activities 119.0 116.4 2.2% Net profit attributable to equity holders of Kernel Holding S.A. 69.7 101.9 (31.6%) EBITDA 157.7 148.6 6.1%
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights(1) Amounts in USD millions 31 December 2012 31 December 2011 Invested сapital Cash & cash equivalents 45.9 129.8 Net trade accounts receivable 223.4 116.1 Inventory 907.7 561.3 of which: readily marketable inventories 788.3 531.3 Other currents assets 422.1 373.5 Net propert
Slide 10: Cash Flow Highlights
Cash Flow Highlights(1) Amounts in USD millions H1 FY2013 H1 FY2012 Operating profit before working capital changes 151.6 147.0 Changes in working capital (521.7) (175.3) Cash obtained from/ (used in) operations (370.2) (28.4) Finance costs paid (37.6) (25.2) Income tax paid (19.8) (1.0) Net cash ob
Slide 11: Liquidity position & credit metrics
Liquidity position & credit metrics(1) Amounts in USD millions, except ratios 31 December 2012 31 December 2011 Cash 45.9 129.8 Inventory 907.7 561.3 of which: readily marketable inventories 788.3 531.3 RMI / Inventories 86.8% 94.7% Gross interest-bearing debt 1 233.4 736.5 Net interest-bearing debt
Slide 12: Revised FY2013 guidance
Revised FY2013 guidance Revenue: USD 2 800 million EBITDA: USD 350 million Net Income: USD 200 million H1 FY2013 12
Slide 13: IR Contact
IR Contact • Yuriy Kovalchuk Investor Relations Director [email protected] • Yegor Samusenko Investor Relations Manager [email protected] Tel.: (+38-044) 461-88-01 H1 FY2013 13