Kernel Holding S.a. · GPW:KER
Kernel — Q1 FY2011 Earnings Presentation
10 slides from Kernel's earnings presentation, 2011
Slide 1: First Quarter FY2011 Results
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, express 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 the
Slide 3: Q1 FY2011 Financial Highlights
Q1 FY2011 Financial Highlights(1) Amounts in USD millions, except for EPS and ratios Q1 FY2010 Q1 FY2011 % change Revenue 240.3 345.4 43.7% Result from operating activities (EBIT) 30.7 59.7 94.5% Net profit (2) 39.2 34.2 (12.8)% EBITDA (3) 35.8 67.5 88.6% EPS (4) 0.57 0.46 Net Debt / EBITDA(5) 1.5 x
Slide 4: Key drivers
Q1 FY2011 Key drivers Markets International grain prices increase by 35 to 45 percent (depending on crop) over Q1 FY2011 Soft measures by Ukrainian government to slow grain export and implementation of quotas depress grain prices on the domestic market Strategy implementation Crushing capacity
Slide 5: Income Statement Highlights
Q1 FY2011 Income Statement Highlights (1) Amounts in USD millions, except for EPS and margins Q1 FY2010 Q1 FY2011 % change Revenue 240.3 345.4 43.7% Result from operating activities (EBIT) 30.7 59.7 94.5% Net profit (2) 39.2 34.2 (12.8)% EBITDA (3) 35.8 67.5 88.6% EPS (4) 0.57 0.46 Gross margin 25.3
Slide 6: Balance Sheet Highlights
Q1 FY2011 Balance Sheet Highlights (1) Amounts in USD millions 30 Sept. 2009 30 June 2010 30 Sept. 2010 Invested Capital Cash & cash equivalent 53.8 59.5 44.5 Net trade accounts receivable 41.5 65.5 53.8 Inventory 204.6 147.8 373.0 Of which: Readily Marketable Inventories (2) 198.9 142.9 367.2 Other
Slide 7: Cash Flow Highlights
Q1 FY2011 Cash Flow Highlights (1) Amounts in USD millions Q1 FY2010 Q1 FY2011 Operating profit before working capital changes 52.4 66.4 Changes in working capital (131.6) (230.5) Cash obtained from / (used in) operations (79.2) (164.1) Finance costs paid (3.1) (8.1) Income tax paid (0.1) (0.3) Net
Slide 8: Segmental Results
Q1 FY2011 Segmental Results Revenue (1), USD million Operating profit (2), USD million Operating margin, % Tonnage (3) FY10 FY11 % change FY10 FY11 % change FY10 FY11 FY10 FY11 % change Bottled oil 27.1 35.2 29.9% 3.3 6.7 103.0% 12.2% 19.0% 28 910 33 245 15.0% Bulk oil 77.1 182.1 136.2% 11.3 25.2 12
Slide 9: Liquidity position & credit metrics
Q1 FY2011 Liquidity position & credit metrics Amounts in USD millions, except ratios 30 Sept. 2009 30 June 2010 30 Sept. 2010 Cash 53.8 59.5 44.5 Inventory 204.6 147.8 373.0 Of which: Readily Marketable Inventories 198.9 142.9 367.2 RMI/Inventories 97.2% 96.7% 98.5% Gross interest-bearing debt 328.7
Slide 10: FY2011 Outlook
FY2011 Outlook FY2011 guidance remains unchanged: USD 1 300 million Revenue USD 255 million EBITDA USD 195 million Net income Q1 FY2011 10