Rusagro Group · RUS:RAGR
Rusagro — Ros Agro — Q1 2020 Earnings Presentation
20 slides from Rusagro's earnings presentation, May 18, 2020
Slide 1: Ros Agro PLC Investors Presentation 1Q 2020
18 MAY 2020 ROS AGRO PLC INVESTORS PRESENTATION 1Q 2020
Slide 2: Table of Contents
TABLE OF CONTENTS 2 1 Summary Key Indicators (IFRS) Q1 2020 vs Q1 2019 3 2 Business Overview by division (IFRS) 9 3 Additional information 14 2
Slide 3: Summary Key Indicators (IFRS) Q1 2020 vs Q1 2019
SECTION 1 SUMMARY KEY INDICATORS (IFRS) Q1 2020 VS Q1 2019
Slide 4: Net Revenue, Adjusted EBITDA
NET REVENUE, ADJUSTED EBITDA: 4 Q1 2020 VS Q1 2019 Comments Net revenue (IFRS) Q1 2020 vs Q1 2019 2 725 221 32 933 Net Revenue increased by RR 4,962 million (+18%): 128 1 623 • Revenue of Sugar segment increased by RR 716 million (+16%) due sales volume growth, which was partially offset by the pric
Slide 5: Statement of Comprehensive Income (IFRS)
STATEMENT OF COMPREHENSIVE INCOME (IFRS) 5 ROS AGRO PLC RR m illion Varianсes Description Q1 2020 Q1 2019 Units % Sales 32,933 27,971 4,962 18 Net gain / (loss) on revaluation of biological assets and 86 (1,959) 2,045 104 agricultural produce Cost of sales (25,854) (22,229) (3,625) (16) Net gain / (
Slide 6: Debt Profile (as of 31 March 2020)
DEBT PROFILE (AS OF 31 MARCH 2020) 6 Debt position and liquidity management Comments Variance in RR million 31 March 2020 31 December 2019 Units % Gross debt decreased by RR 920 million (-1%) up to RR 96,956 million Gross debt 96,956 97,876 (920) (1) • Net debt decreased by RR 1,775 million (-3%) to
Slide 7: Statement of Financial Position: Key Changes March 2020 vs 31 December 2019
STATEMENT OF FINANCIAL POSITION: KEY CHANGES 31 MARCH 2020 VS 7 31 DECEMBER 2019 Comments Assets as of 31 March 2020 vs 31 December 2019 ASSETS 245 000 • PPE & LT biological assets* increased by RR 657 million (RR +872 million in Meat, RR -273 million in Sugar, 2 395 RR -22 million in Agriculture, R
Slide 8: Cash Flows: Actual Q1 2020 vs Actual Q1 2019
CASH FLOWS: 8 ACTUAL Q1 2020 VS ACTUAL Q1 2019 Comments Cash Flows according to Management view (Not IFRS presentation)** RR m illion Actual Actual Variances 3m 2020 3m 2019 Units % Main variances in cash flow statement line items between 1Q20 and 1Q19: Cash flow s from operating activities Profit b
Slide 9: Business Overview by Division (IFRS)
SECTION 2 BUSINESS OVERVIEW BY DIVISION (IFRS) Q1 2020 VS Q1 2019
Slide 10: Meat: Key Indicators (IFRS)
MEAT 10 KEY INDICATORS Q1 2020 VS Q1 2019 (IFRS) Meat: sales, Adjusted EBITDA and Comments 8 000 Adjusted EBITDA margin Sales (RR +1,623 million, +31%): 6 809 • Increase in sales volumes of processed pork by 44% was mainly caused by production growth by 47% due to launch of 3rd stage on Tambov Bacon
Slide 11: Sugar: Key Indicators (IFRS)
SUGAR 11 KEY INDICATORS Q1 2020 VS Q1 2019 (IFRS) Comments Sugar: sales, Adjusted EBITDA and Adjusted Sales (RR +716 million, +16%): 9 000 EBITDA margin • Sales increased due to sugar sales volume growth of 63%, which was partially offset by the sale 22% price drop of 32% 19% • Sales volumes increas
Slide 12: Agriculture: Key Indicators (IFRS)
AGRICULTURE 12 KEY INDICATORS Q1 2020 VS Q1 2019 (IFRS) Comments Agriculture: sales, Adjusted EBITDA and Adjusted 6 000 EBITDA margin Sales (RR -451 million, -9%): • Lower wheat, barley and corn sales in 1Q20 vs 1Q19 were affected by management decision in 4 875 2018 to postpone sales from the end o
Slide 13: Oil & Fats: Key Indicators (IFRS)
OIL & FATS 13 KEY INDICATORS Q1 2020 VS Q1 2019 (IFRS) Oil & Fats: sales, Adjusted EBITDA and Adjusted Comments EBITDA margin 20 000 Sales (RR +2,725 million, +20%: EZHK RR +2,940 million, +44%; SAPP RR +3,137 million, 12% +32%; Far East RR -730 million, -86% and Eliminations RR -2,622 million, -69%
Slide 14: Additional Information
SECTION 3 ADDITIONAL INFORMATION
Slide 15: Adjusted EBITDA 1Q 2020 (IFRS) Breakdown by Divisions
ADJUSTED EBITDA 1Q 2020 (IFRS) BREAKDOWN BY DIVISIONS 15 ROS AGRO PLC RR m illion Three m onths ended 31 March 2020 Sugar Meat Agriculture Oil and Fat Other Elim ination Total Sales 5,241 6,809 4,424 16,147 1,108 -796 32,933 Net gain / (loss) on revaluation of biological assets and 0 428 -447 0 0 10
Slide 16: Adjusted EBITDA 1Q 2019 (IFRS) Breakdown by Divisions
ADJUSTED EBITDA 1Q 2019 (IFRS) BREAKDOWN BY DIVISIONS 16 ROS AGRO PLC RR m illion Three m onths ended 31 March 2019 Sugar Meat Agriculture Oil and Fat Other Elim ination Total Sales 4,525 5,186 4,875 13,422 908 -946 27,971 Net gain/ (loss) on revaluation of biological assets and agricultural produce
Slide 17: Statement of Cash Flows According to Management View
STATEMENT OF CASH FLOWS ACCORDING TO MANAGEMENT VIEW (NOT IFRS 17 PRESENTATION) ROS AGRO PLC RR m illion Variances Actual Actual 3m 2020 3m 2019 Units % Cash flow s from operating activities Profit before incom e tax 3,036 855 2,180 255 Adjustments for non-cash and non-operating (income)/expenses, n
Slide 18: Statement of Cash Flows According to Management View – Continuance
STATEMENT OF CASH FLOWS ACCORDING TO MANAGEMENT VIEW (NOT IFRS 18 PRESENTATION) – CONTINUANCE ROS AGRO PLC RR m illion Actual Actual Variances (*) Including in net cash 3m 2020 3m 2019 Units % flows on financial assets Cash flow s from investing activities - related to financial Purchases of propert
Slide 19: Statement of Financial Position (IFRS)
STATEMENT OF FINANCIAL POSITION (IFRS) 19 ROS AGRO PLC RR m illion 31 Decem ber Variances 31 March 2020 2019 Units % ASSETS 241,077 239,495 1,582 1 Current assets Cash and cash equivalents 3,027 2,171 856 39 Restricted cash 0 0 0 23 Short-term investments 24,695 23,457 1,238 5 Trade and other receiv
Slide 20: Statement of Financial Position (IFRS) – Continuance
STATEMENT OF FINANCIAL POSITION (IFRS) 20 – CONTINUANCE ROS AGRO PLC RR m illion 31 Decem ber Variances 31 March 2020 2019 Units % Liabilities and EQUITY 241,077 239,495 1,582 1 Current liabilities Short-term borrow ings 31,068 31,835 (767) (2) Lease liabilities 980 917 63 7 Trade and other payables