Kernel Holding S.a. · GPW:KER
Kernel — Q2 FY2012 Earnings Presentation
10 slides from Kernel's earnings presentation, Feb 16, 2012
Slide 1: Q2 FY2012 Financial Results Presentation
Q2 FY2012 Financial results presentation Kernel Holding S.A. 16 February 2012 Q2 FY2012 1
Slide 2: Disclaimer
Disclaimer The information in this document has not been independently verified and no representation or warranty, expressed 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 th
Slide 3: Q2 Summary of performance, markets and events
Q2 Summary of performance, markets and events Company performance Positive financial results, the company’s best quarter to date Good performance of bulk oil, grain and bottle oil segments, which are the major contributors to consolidated revenues and operating profit Export terminal underp
Slide 4: Financial Highlights
Financial Highlights (1) Amounts in USD millions, except for EPS and margins Q2 FY2011 Q2 FY2012 % change Revenue 567.1 594.4 4.8% Result from operating activities (EBIT) 65.5 86.2 31.6% Net profit 52.0 65.2 25.3% EBITDA(3) 73.9 103.6 40.3% EPS(4) 0.70 0.81 15.7% Net debt/EBITDA(5) 2.3x 1.6x (30.4)%
Slide 5: Income Statement Highlights
Income Statement Highlights(1) Amounts in USD millions, except for EPS and margins Q2 FY2011 Q2 FY2012 % change Revenue 567.1 594.4 4.8% Result from operating activities (EBIT) 65.5 86.2 31.6% Net profit(2) 52.0 65.2 25.4% EBITDA(3) 73.9 103.6 40.2% EPS(4) 0.70 0.81 15.7% Gross margin 20.0% 24.2% 21
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights (1) Amounts in USD millions 31 December 2010 30 September 2011 31 December 2011 Invested Capital Cash & cash equivalents 21.6 173.2 130.3 Net trade accounts receivable 127.7 122.7 109.5 Inventory 547.0 385.4 564.9 of which: Readily Marketable Inventories(2) 538.9 356.4 512.2
Slide 7: Cash Flow Highlights
Cash Flow Highlights (1) Amounts in USD millions 31 December 2010 31 December 2011 Operating profit before working capital changes 70.8 100.1 Changes in working capital (286.8) (165.2) Cash obtained from / (used in) operations (216.0) (64.9) Finance costs paid (12.0) (13.1) Income tax paid (0.5) (0.
Slide 8: Segmental Results
Segmental Results Revenue(1), USD million Operating profit(2), USD million Operating margin, % Tonnage(3) Q2 FY11 Q2 FY12 % change Q2 FY11 Q2 FY12 % change Q2 FY11 Q2 FY12 % change Q2 FY11 Q2 FY12 % change Bottled oil 36.7 59.0 60.9% 4.5 11.1 150.7% 12.1% 18.9% 56.2% 28.2 39.2 39.2% Bulk oil 258.1 3
Slide 9: Liquidity position & credit metrics
Liquidity position & credit metrics Amounts in USD millions. except ratios 31 December 2010 30 September 2011 31 December 2011 Cash 21.6 173.2 130.3 Inventory 547.0 385.4 564.9 Of which: Readily Marketable Inventories 538.9 356.4 512.2 RMI/Inventories 98.5% 92.5% 90.7% Gross interest‐bearing debt 72
Slide 10: FY2012 Guidance
FY2012 Guidance Revenue of US$2.3 billion EBITDA of US$370 million Net income of US$255 million Q2 FY2012 10