Rusagro Group · RUS:RAGR
Rusagro — Ros Agro — FY2021 Earnings Presentation
25 slides from Rusagro's earnings presentation, Feb 28, 2022
Slide 1: Ros Agro PLC Investors Presentation 4Q and 12M 2021
FEBRUARY 28TH, 2022 ROS AGRO PLC INVESTORS PRESENTATION 4Q AND 12M 2021
Slide 2: Table of Contents
TABLE OF CONTENTS 2 1 Summary Key Indicators (IFRS) 4Q and 12M 2021 vs 4Q and 12M 2020 3 2 Business Overview by division (IFRS) 9 3 Additional information 18
Slide 3: Section 1: Summary Key Indicators (IFRS)
SECTION 1 SUMMARY KEY INDICATORS (IFRS) 4Q AND 12M 2021 VS 4Q AND 12M 2020
Slide 4: Net Revenue, Adjusted EBITDA: 4Q 2021 vs 4Q 2020
NET REVENUE, ADJUSTED EBITDA: 4 4Q 2021 VS 4Q 2020 Net revenue (IFRS) 4Q 2021 vs 4Q 2020 +30% Comments (RUB + 15,147 million) 70,000 Net Revenue increased by RUB 15,147 million (+30%): 6,105 65,356 65,000 • Revenue of Sugar segment growth by RUB 5,214 million (+74%) mainly due to the increase (1,329
Slide 5: Net Revenue, Adjusted EBITDA: 12M 2021 vs 12M 2020
NET REVENUE, ADJUSTED EBITDA: 5 12M 2021 VS 12M 2020 Net revenue (IFRS) 12M 2021 vs 12M 2020 Comments 270,000 +40% Net Revenue increased by RUB 63,961 million (+40%): (RUB + 63,961 million) • Revenue of Sugar segment increased by RUB 8,248 million (+29%) was partially offset by the 240,000 45,510 de
Slide 6: Debt profile as of 31 December 2021
Debt profile as of 31 December 2021 6 Debt position and liquidity management 31 December 31 December Variance Comments in RR million 2021 2020 Units % Gross debt 172,724 114,929 57,795 50 Gross debt increased by RUB 57,795 million (+50%) up to RUB 172,724 million: Short-term borrowings 108,749 51,75
Slide 7: Statement of Financial Position: Key changes
Statement of Financial Position: 7 Key changes 31 December 2021 vs 31 December 2020 Assets as of 31 December 2021 vs 31 December 2020 380,000 Comments 4 970 524 412 362 321 ASSETS 360,000 5 519 8 508 • Cash & Investments** increased by RUB 35,681 million. For cash flow and investments 35 681 details
Slide 8: Cash Flows: 12M 2021 vs 12M 2020
Cash Flows: 12M 2021 VS 12M 2020 8 Cash Flows according to Management view (Not IFRS presentation)* RR million Variance 12M 2021 12M 2020 Comments Units % Cash flows from operating activities Profit before income tax 44,956 24,323 20,632 85 Main variances in cash flow statement line items between 12
Slide 9: Section 2: Business Overview by Division (IFRS)
SECTION 2 BUSINESS OVERVIEW BY DIVISION (IFRS) 4Q AND 12M 2021 VS 4Q AND 12M 2020
Slide 10: Agriculture: Key indicators 4Q 2021 vs 4Q 2020
Agriculture 10 Key indicators 4Q 2021 vs 4Q 2020 (IFRS) Agriculture: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 30,000 70% Sales (RUB +3,574 million, +18%) 59% 60% 25,000 52% Sales growth was supported by effect of changes in sales volume (RUB +1,174 million), most 23,170 significant
Slide 11: Agriculture: Key indicators 12M 2021 vs 12M 2020
Agriculture 11 Key indicators 12M 2021 VS 12M 2020 (IFRS) Agriculture: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 50,000 60% 56% Sales (RUB +7,534 million, +22%) 41,881 44% 50% 40,000 Sales growth was supported by effect of changes in sales volume (RUB +875 million): EBITDA margin 34
Slide 12: Oil & Fats: Key indicators 4Q 2021 vs 4Q 2020
Oil & Fats 12 Key indicators 4Q 2021 vs 4Q 2020 (IFRS) Oil & Fats: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 40,000 10% 9% Sales (RUB +6,105 million, +24%)*: 8% 31,278 8% • Sales growth due to positive market dynamics and increased sales volumes of industrial fats, dry whey 30,000 m
Slide 13: Oil & Fats: Key indicators 12M 2021 vs 12M 2020
Oil & Fats 13 Key indicators 12M 2021 VS 12M 2020 (IFRS) Oil & Fats: Sales, Adjusted EBITDA Comments and Adjusted EBITDA margin 180,000 12% 12% 10% Sales (RUB +45,510 million, +57%)*: 150,000 • Sales growth supported by the increase in sales volumes of crude oil, industrial fats, dry whey mixes and
Slide 14: Sugar: Key indicators 4Q 2021 vs 4Q 2020
Sugar 14 Key indicators 4Q 2021 vs 4Q 2020 (IFRS) Sugar: Sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 20,000 30% 26% Sales (RUB +5,214 million, +74%): • Sugar sales increase was supported by the sales volume increase of 61% (RUB +3,399 million): 25% • Sales volumes increased due to the
Slide 15: Sugar: Key indicators 12M 2021 vs 12M 2020
Sugar 15 Key indicators 12M 2021 VS 12M 2020 (IFRS) Sugar: Sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 50,000 30% Sales (RUB +8,248 million, +29%): 25% • Sugar sales increase was partially offset by the sales volume decrease of 5% (RUB -1,265 million): 23% 25% 40,000 • Rusagro’s sugar
Slide 16: Meat: Key indicators 4Q 2021 vs 4Q 2020
Meat 16 Key indicators 4Q 2021 vs 4Q 2020 (IFRS) Comments Meat: Sales, Adjusted EBITDA and Adjusted EBITDA margin 30,000 18% 16% Sales (RUB +1,583 million, +17%): 16% 25,000 • Sales increased as a result of positive market dynamics for all meat product categories 14% except for livestock due to diff
Slide 17: Meat: Key indicators 12M 2021 vs 12M 2020
Meat 17 Key indicators 12M 2021 VS 12M 2020 (IFRS) Meat: Sales, Adjusted EBITDA and Adjusted EBITDA margin Comments 60,000 20% Sales (RUB +7,194 million, +22%): 20% • Sales increased as a result of positive market dynamics for all meat product categories; 50,000 15% 15% • Sales volumes growth by RUB
Slide 18: Section 3: Additional Information
SECTION 3 ADDITIONAL INFORMATION
Slide 19: Statement of Comprehensive Income (IFRS)
Statement of Comprehensive Income (IFRS) 19 ROS AGRO PLC RUB million Varianсes Varianсes Description 12M 2021 12M 2020 4Q 2021 4Q 2020 Units % Units % Sales 222,932 158,971 63,961 40 65,356 50,209 15,147 30 Net gain / (loss) on revaluation of biological assets and 3,409 5,890 (2,481) (42) (7,161) 46
Slide 20: Adjusted EBITDA 12M 2021 (IFRS) Breakdown by division
Adjusted EBITDA 12M 2021 (IFRS) 20 Breakdown by division ROS AGRO PLC RUB million Year ended 31 December 2021 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 36,361 39,628 41,881 125,237 719 (20,893) 222,932 Net gain / (loss) on revaluation of biological assets and - (370) 2,610 - -
Slide 21: Adjusted EBITDA 12M 2020 (IFRS) Breakdown by division
Adjusted EBITDA 12M 2020 (IFRS) 21 Breakdown by division ROS AGRO PLC RUB million Year ended 31 December 2020 Sugar Meat Agriculture Oil and Fat Other Elimination Total Sales 28,113 32,434 34,348 79,726 631 (16,281) 158,971 Net gain/ (loss) on revaluation of biological assets and - (681) 3,583 - - 2
Slide 22: Statement of Cash Flows According to Management view
Statement of Сash Flows According to Management view 22 (Not IFRS presentation) ROS AGRO PLC RUB million Variance 12M 2021 12M 2020 Units % Cash flows from operating activities Profit before income tax 44,956 24,323 20,632 85 Adjustments for non-cash and non-operating (income)/expenses, net: Depreci
Slide 23: Statement of Cash Flows According to Management view - continuance
Statement of Cash Flows According to Management view (Not 23 IFRS presentation) - continuance ROS AGRO PLC RUB million Variance 12M 2021 12M 2020 Units % (*) Including in net Cash flows from investing activities - cash flows on financial Purchases of property, plant and equipment (13,294) (12,405) (
Slide 24: Statement of Financial Position (IFRS)
Statement of Financial Position (IFRS) 24 ROS AGRO PLC RUB million 31 December 31 December Variances 2021 2020 Units % ASSETS 362,321 276,149 86,172 31 Current assets Cash and cash equivalents 46,462 11,867 34,595 292 Restricted cash 0 144 (144) (100) Short-term investments 21,002 19,584 1,418 7 Tra
Slide 25: Statement of Financial Position (IFRS) - continuance
Statement of Financial Position (IFRS) 25 - continuance ROS AGRO PLC RUB million 31 December 31 December Variances 2021 2020 Units % Liabilities and EQUITY 362,321 276,149 86,172 31 Current liabilities Short-term borrowings 108,749 51,753 56,995 110 Lease liabilities 1,131 944 187 20 Trade and other