Kernel Holding S.a. · GPW:KER
Kernel — Q3 FY2012 Earnings Presentation
11 slides from Kernel's earnings presentation, Mar 31, 2012
Slide 1: Q3 FY2012 Financial Results Presentation
Q3 FY2012 FINANCIAL RESULTS PRESENTATION Kernel Holding S.A. 31 March 2012 Q3 FY2012 1
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: Q3 Summary of performance, markets and events
Q3 Summary of performance, markets and events Company performance Weak financial results, below management expectations Poor performance of grain segment – unprecedented low margins and volumes trailing the estimates Good performance of bulk and bottled oil segments, healthy margins Export t
Slide 4: Financial Highlights (1)
Financial Highlights (1) Amounts in USD millions, except for EPS and ratios Q3 FY2011 Q3 FY2012 % change Revenue 515.4 598.9 16.2% Profit from operating activities 81.8 44.8 (45.3%) Net profit(2) 77.9 37.2 (52.2%) EBITDA(3) 90.1 62.5 (30.6%) EPS(4) 1.04 0.46 (55.8%) Net debt / EBITDA(5) 1.7 x 2.2 x
Slide 5: Financial Highlights – 9 months to 31 March
Financial Highlights – 9 months to 31 March (1) Amounts in USD millions, except for EPS 9 months ended 9 months ended % change 31 march 2011 31 march 2012 Revenue 1 427.8 1 584.8 11.0% Profit from operating activities 207.1 161.2 (22.2%) (2) Net profit 164.1 139.1 (15.2%) (3) EBITDA 231.5 211.2 (8.8
Slide 6: Income Statement Highlights
Income Statement Highlights(1) Amounts in USD millions, except for EPS and margins Q3 FY2011 Q3 FY2012 % change Revenue 515.4 598.9 16.2% Gross profit 148.6 113.7 (23.5%) Profit from operating activities 81.8 44.8 (45.3%) Net profit(2) 77.9 37.2 (52.2%) EBITDA(3) 90.1 62.5 (30.6%) EPS(4) 1.04 0.46 (
Slide 7: Balance Sheet Highlights
Balance Sheet Highlights (1) Amounts in USD millions 31 March 2011 31 December 2011 31 March 2012 Invested Capital Cash & cash equivalents 59.3 129.8 91.9 Net trade accounts receivable 116.9 116.1 186.9 Inventory 388.9 561.3 588.6 of which: readily marketable inventories(2) 384.3 531.3 503.0 Other c
Slide 8: Cash Flow Highlights
Cash Flow Highlights (1) Amounts in USD millions Q3 FY2011 Q3 FY2012 Operating profit before working capital changes 89.8 67.8 Changes in working capital 113.2 (146.3) Cash obtained from/ (used in) operations 203.0 (78.5) Finance costs paid (14.0) (16.2) Income tax paid (0.5) (1.6) Net cash obtained
Slide 9: Segmental Results
Segmental Results Revenue(1), USD million Operating profit(2), USD million Operating margin, % Tonnage(3) Q3 FY11 Q3 FY12 % change Q3 FY11 Q3 FY12 % change Q3 FY11 Q3 FY12 Q3 FY11 Q3 FY12 % change Bottled oil 33.0 44.5 35.1% 3.5 5.8 63.5% 10.7% 13.0% 22.8 29.3 28.7% Bulk oil 354.2 321.3 (9.3%) 68.8
Slide 10: Liquidity position & credit metrics
Liquidity position & credit metrics Amounts in USD millions, except ratios 31 March 2011 31 December 2011 31 March 2012 Cash 59.3 129.8 91.9 Inventory 388.9 561.3 588.6 of which: readily marketable inventories 384.3 531.3 503.0 RMI / Inventories 98.8% 94.7% 85.5% Gross interest‐bearing debt 562.0 73
Slide 11: FY2012 Revised Guidance
FY2012 Revised Guidance Revenue of US$ 2 300 Mio EBITDA of US$ 330 Mio Net profit of US$ 215 Mio Q3 FY2012 11