Rusagro Group · RUS:RAGR
Rusagro — ROS Agro — Q1 2016 Earnings Presentation
22 slides from Rusagro's earnings presentation, May 20, 2016
Slide 1: ROS AGRO PLC Presentation for Investors Q1 2016
ROS AGRO PLC Presentation for Investors Q1 2016 20 May 2016
Slide 2: Table of Contents
Table of Contents 1 ROS AGRO PLC – summary key indicators Q1 2016 (IFRS) 3 2 Business Overview by division (IFRS) 7 3 Additional information 13 2
Slide 3: Summary Key Indicators (IFRS)
Section 1 Summary Key Indicators (IFRS) Q1 2016 vs Q1 2015
Slide 4: Net revenue and Adjusted EBITDA Q1 2016 vs Q1 2015
Net revenue, Adjusted EBITDA: Actual Q1 2016 vs Actual Q1 2015 Comments Net revenue (IFRS) Actual Q1 2016 vs Actual Q1 2015 Net Revenue increased by RR 3,616 million (+26%): 20,000 1,668 (581) • Sugar sales increased by RR 1,078 million (+22%) thanks to sales volume and price 17,738 growth. 1,788 RR
Slide 5: Debt profile (as of 31 March 2016)
Debt profile (as of 31 March 2016) Comments Debt position and liquidity management • Gross debt decreased by RR 3,101 million (-6%) to RR 46,797 million 31 March 31 December Variance • Net debt decreased by RR 528 million (-3%) to RR 14,619 million. in RR million 2016 2015 Units % • 68% of total gro
Slide 6: Cash Flows: Actual Q1 2016 vs Actual Q1 2015
Cash Flows: Actual Q1 2016 vs Actual Q1 2015 Comments Cash Flows according to Management view (Not IFRS presentation)** RR m illion Actual Actual Variances In Q1 2016 cash and cash equivalents decreased by RR 655 million from RR 4,402 million to RR 3,747 million. Q1 2016 Q1 2015 Units % Cash flow s
Slide 7: Business Overview by division (IFRS)
Section 2 Business Overview by division (IFRS) Q1 2016 vs Q1 2015
Slide 8: Sugar: Key indicators
Sugar Key indicators Actual Q1 2016 vs Actual Q1 2015 (IFRS) Comments Sugar: sales, Adjusted EBITDA and Adjusted EBITDA margin 7,000 50% Sales (RR +1,078 million, +22%): The increase in sales is caused by growth in sales prices from 42.7 ths rur/tn up to 44.0 ths 5,877 rur/tn (excl. VAT) (+3%), and
Slide 9: Meat: Key indicators
Meat Key indicators Actual Q1 2016 vs Actual Q1 2015 (IFRS) Comments Meat: sales, Adjusted EBITDA and Adjusted EBITDA margin 60% Sales (RR -337 million, -9 %): • sales volume of livestock pigs decreased by 24 ths tn (-60%) from 40 ths tn to 16 ths tn; 3,952 45% 50% • sales volume of processed pork r
Slide 10: Agriculture: Key indicators
Agriculture Key indicators Actual Q1 2016 vs Actual Q1 2015 (IFRS) Comments Agriculture: sales, Adjusted EBITDA and Adjusted EBITDA margin 50% Sales (RR +1,788 million, +114%): The major positive factors are: • an increase in sales volumes of soy, corn, sunflower and wheat 4,000 47% 3,362 46% EBITDA
Slide 11: Oil & Fats: Key indicators
Oil & Fats Key indicators Actual Q1 2016 vs Actual Q1 2015 (IFRS) Oil & Fats: sales, Adjusted EBITDA and Adjusted Comments EBITDA margin Sales (RR +1,668 million, +41%: EZHK RR +348 million, +20%; SAPP RR +472 million, 18% +17%; Far East RR +688 million, +223% and Eliminations RR +160 million, +21%)
Slide 12: Oil & Fats: volumes and prices
Oil & Fats Key indicators Actual Q1 2016 vs Actual Q1 2015 (IFRS) Comments Oil & Fats Yekaterinburg: volume and prices 20 75.7 Sales and prices in Yekaterinburg fat plant (EZHK): 75.3 75 • sales volume of mayonnaise increased by 2.1 ths tn (+17%) with 10% increase in price; thousand rubles per ton •
Slide 13: Additional information
Section 3 Additional information
Slide 14: Statement of Comprehensive income (IFRS)
Statement of Comprehensive income (IFRS) ROS AGRO PLC RR m illion (*) In 2015 full-year financial statements Variances the Group changed the way of Item Actual Q1 2016 Actual Q1 2015 (*) Units % presentation of gain/ loss on initial recognition of agricultural produce and Sales 17,738 14,122 3,616 2
Slide 15: Adjusted EBITDA Q1 2016 (IFRS) Breakdown by divisions
Adjusted EBITDA Q1 2016 (IFRS) Breakdown by divisions ROS AGRO PLC RR m illion Q1 2016 Sugar Meat Agriculture Oil and Fat Other Elim ination Total Sales 5,877 3,615 3,362 5,747 18 (881) 17,738 Net gain / (loss) on revaluation of biological assets and agricultural produce - (1,013) (1,049) - - (733)
Slide 16: Adjusted EBITDA Q1 2015 (IFRS) Breakdown by divisions
Adjusted EBITDA Q1 2015 (IFRS) Breakdown by divisions ROS AGRO PLC RR m illion Q1 2015 Sugar Meat Agriculture Oil and Fat Other Elim ination Total Sales 4,799 3,952 1,574 4,079 9 (291) 14,122 Net gain / (loss) on revaluation of biological assets and agricultural produce - 3 (214) - - (274) (485) Cos
Slide 17: Statement of cash flows (IFRS)
Statement of cash flows (IFRS) ROS AGRO PLC RR m illion Actual Actual Variances Q1 2016 Q1 2015 Units % Cash flows from operating activities Profit before incom e tax 56 4,537 (4,481) (99) Adjustments for non-cash and non-operating (income)/expenses, net: Depreciation and amortization 949 619 330 53
Slide 18: Statement of cash flows (IFRS) - continuance
Statement of cash flows (IFRS) - continuance ROS AGRO PLC RR m illion Actual Actual Variances Q1 2016 Q1 2015 Units % Cash flows from investing activities Purchases of property, plant and equipment (1,151) (1,089) (62) (6) Purchases of other intangible assets (34) (29) (5) (17) Proceeds from sales o
Slide 19: Statement of cash flows according to Management view (Not IFRS)
Statement of cash flows according to Management view (Not IFRS presentation) ROS AGRO PLC RR m illion Actual Actual Variances Q1 2016 Q1 2015 Units % Cash flows from operating activities Profit before incom e tax 56 4,537 (4,481) (99) Adjustments for non-cash and non-operating (income)/expenses, net
Slide 20: Statement of cash flows according to Management view - continuance
Statement of cash flows according to Management view (Not IFRS presentation) – continuance ROS AGRO PLC RR m illion Actual Actual Variances Q1 2016 Q1 2015 Units % Cash flows from investing activities - - Purchases of property, plant and equipment (1,151) (1,089) (62) (6) Purchases of other intangib
Slide 21: Statement of financial positions (IFRS)
Statement of financial positions (IFRS) ROS AGRO PLC RR m illion 31 March 31 December Variances 2016 2015 Units % ASSETS Current assets Cash and cash equivalents 3,747 4,402 (655) (15) Restricted cash 79 - 79 - Short-term investments 26,786 30,129 (3,343) (11) Trade and other receivables 3,651 3,504
Slide 22: Statement of financial positions (IFRS) - continuance
Statement of financial positions (IFRS) - continuance ROS AGRO PLC RR m illion 31 March 31 December Variances 2016 2015 Units % Liabilities and EQUITY Current liabilities Short-term borrow ings 22,678 25,860 (3,182) (12) Trade and other payables 4,569 3,737 832 22 Current income tax payable 37 384 (