Rusagro Group · RUS:RAGR
Rusagro — Investor Presentation (August 2024)
20 slides from Rusagro's investor presentation, August 2024
Slide 1: Rusagro: Presentation for Retail Investors
RUSAGRO LEADING AGROHOLDING PRESENTATION FOR RETAIL INVESTORS
Slide 2: Disclaimer
DISCLAIMER 2 This document is confidential and has been prepared by Rusagro Group (the “Company”) you that forward-looking statements are not guarantees of future performance and that solely for use at the presentation of the Company and may not be reproduced, the Company’s actual results of operati
Slide 3: Key Facts About Rusagro
KEY FACTS ABOUT 3 RUSAGRO Rusagro — one of the largest vertically integrated Results in 2023 agricultural holdings in Russia Rank among Russian companies 277 RUB bn Revenue Oil & fats business №1 Consumer margarine and mayonnaise producer 57 RUB bn EBITDA №1 Sunflower oil producer №2 Industrial fats
Slide 4: Why Is It Worth Investing in Rusagro
WHY IS IT WORTH INVESTING 4 IN RUSAGRO 1 2 Vertically integrated business Steady growth of operating and financial results, reduction of leverage 3 4 Product and geographic Leadership in the domestic market diversification and high export potential
Slide 5: Vertically Integrated Business
VERTICALLY INTEGRATED 5 BUSINESS Meal Grain Oilseed Meat crops Agriculture crops Oil & fats Sugar Sugar business business business business Beet Pork by live weight Cultivation and sowing Oil extraction Production of sugar from beet Feed production Production of industrial fats and Dressing and fert
Slide 6: Steady Growth of Operating and Financial Results, Reduction of Leverage
STEADY GROWTH OF OPERATING AND FINANCIAL RESULTS, 6 REDUCTION OF LEVERAGE Revenue, RUB bn CAPEX, RUB bn 277 х2 17 18 223 240 relative to 2019 14 14 12 138 159 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 EBITDA and margin, RUB bn Leverage, Net debt / EBITDA 14% 20% 22% 19% 20% Debt burden is lo
Slide 7: Product and Geographic Diversification
PRODUCT AND GEOGRAPHIC 7 DIVERSIFICATION Sugar beet Wheat Corn 15 Regions of presence Barley Soybean Sunflower 689 Ths ha landholding Meal Bottled oil Crude oil Mayonnaise and sauces Industrial fats Consumer margarine 6 Oil extraction plants Sugar Pulp Betaine 6 Oil and Fats plants Commercial pork p
Slide 8: Leadership in the Domestic Market and High Export Potential
LEADERSHIP IN THE DOMESTIC MARKET AND HIGH EXPORT 8 POTENTIAL Share and position (#) in the Russian market by segment (2023) Exports share in sales volume (2023) 12% Sunflower oil (#1) Oil & Fats 38% business 30% Industrial fats (#2) Consumer Sugar 65% margarine (#1) business 26% 38% Mayonnaise (#1)
Slide 9: Export Sales in More Than 20 Countries
EXPORT SALES IN MORE 9 THAN 20 COUNTRIES 23 Countries In 2023 Rusagro products were exported mainly to the countries of South-West Asia and the CIS Russia Oil & fats business Sugar business Meat business Agriculture business Belarus South Ossetia Iraq Azerbaijan Tajikistan China Serbia Georgia Afgha
Slide 10: Segments
SEGMENTS
Slide 11: Position of Segments in the Group in 2023
POSITION OF SEGMENTS 11 IN THE GROUP IN 2023 Meat 48.5 RUB bn 5.0 RUB bn 7.8 ths employees business Revenue EBITDA Headcount Sugar 15% Agriculture business business 20% 17% 64.8 RUB bn 19.2 RUB bn 56.9 RUB bn 17.0 RUB bn Revenue EBITDA Share in Revenue EBITDA revenue 2.9 ths employees 3.9 ths employ
Slide 12: Sugar Business in 2Q 2024
SUGAR BUSINESS IN 12 2Q 2024 Sales of sugar, ths tonnes 1 067 769 853 -50% 477 233 208 187 117 2021 2022 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 EBITDA and margin, RUB m EBITDA margin Sales decreased amid the reservation of volumes for EBITDA future deliveries under long-term contracts. 25% 32%
Slide 13: Oil & Fats Business in 2Q 2024
OIL & FATS BUSINESS IN 13 2Q 2024 Sales of oil & fat products, ths tonnes 2 230 Consumer 461 Industrial 1 633 1 568 325 301 +65% 1 769 647 663 632 1 308 1 267 500 125 383 150 123 78 130 305 370 497 538 509 2021 2022 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 EBITDA and margin, RUB m EBITDA margin
Slide 14: Meat Business in 2Q 2024
MEAT BUSINESS IN 14 2Q 2024 Sales of pork products, ths tonnes 294 290 260 -15% Sales decreased amid postponed effect of animals 74 68 66 58 63 disease in 2023. 2021 2022 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 The decrease in volumes in Primorsky Krai due to postponed effect of the ASF outbrea
Slide 15: Agriculture Business in 2Q 2024
AGRICULTURE BUSINESS IN 15 2Q 2024 Sales of agriculture products, ths tonnes 1 799 Oil crops Grain crops 1 239 649 1 155 -21% 390 171 770 Reduction in grain crops sales realized amid uniform 506 342 distribution of volumes within the sales plan. 984 1 150 849 308 70 237 244 110 436 428 51 53 198 186
Slide 16: Rusagro Financial Results in 2Q 2024
RUSAGRO FINANCIAL 16 RESULTS IN 2Q 2024 Revenue, RUB bn CAPEX, RUB bn 70,7 4,6 59,2 3,1 2Q 2023 2Q 2024 2Q 2023 2Q 2024 EBITDA and margin, RUB bn Leverage, Net debt / EBITDA 14% 9% 8,5 2,60 6,5 1,13 2Q 2023 2Q 2024 2Q 2023 2Q 2024
Slide 17: Rusagro Debt Structure in 2Q 2024
RUSAGRO DEBT 17 STRUCTURE IN 2Q 2024 Total debt Net debt, RUB bn More than 5 years 111 49 18% 1 year 41% 34 33% 66 3-5 years 8% 15 62 2 years 32 Long-term Investment 34% 46 30 Short-term 66% Current Gross debt Cash and cash Net debt equivalents
Slide 18: Rusagro Stocks Show High Growth Potential
RUSAGRO STOCKS SHOW 18 HIGH GROWTH POTENTIAL Enterprise value EBITDA Multiple (EV/EBITDA) Modernization and expansion of existing Optimization of capital allocation and cost of capacities capital, increase in profit growth rate Improvement of stocks liquidity and strengthening M&A of other market pl
Slide 19: Key Events in the Company's History
KEY EVENTS IN THE 19 COMPANY'S HISTORY 1995-1996 2016-2017 2023 Creation of LLC Rusagro Invest which was Three sugar plants were acquired from Acquisition of 50% and focused on sugar imports Razgulyay and SPO of GDRs on LSE. control of NMGK Group Launch of the first retail brand Slovo and admission
Slide 20: Contacts and Other Information
CONTACTS AND 20 OTHER INFORMATION Alexey Kulchitskiy, IR, M&A, ESG Director Subscribe and follow Rusagro news in the official telegram channel IR e-mail [email protected] Depository receipts are listed on exchanges: AGRO AGRO.Y More information in the annual report 2023 (click to open)