AGRANA Beteiligungs-AG RCB Investors Conference in Zürs (April 9-10, 2008) Adding value to nature s gifts.

Transcription

1 AGRANA Beteiligungs-AG RCB Investrs Cnference in Zürs (April 9-10, 2008) April 9,

2 AGRANA at a glance AGRANA prducts yu meet everyday Sugar Sugar is sld - t cnsumers via the fd trade (20%) and - t manufacturers: e.g. sft drinks industry, cnfectinery industry, fermentatin industry, ther fd and beverage industries (80%). April 9, Starch AGRANA prduces starch and special starch prducts. Starch is a cmplex carbhydrate which is insluble in water. Starch is used in fd prcessing e.g. as thickener and fr technical purpses e.g. in the paper manufacturing prcess. Biethanl is part f ur starch business. Fruit Fruit juice cncentrates custmers are fruit juice and beverage bttlers and fillers (20%). Fruit preparatins are special custmized prducts (80%) fr - the dairy industry, - the baked prducts industry, -the ice-cream industry.

3 AGRANA Key figures Revenues Staff Prcessed raw material Revenues e SUGAR Leading prducer f sugar in Central and Eastern Eurpe 805 m 2,723 4,700,000 tns f sugar beets and 180,000 tns f raw sugar ~ 750 m STARCH One f Eurpe s leading suppliers f specialty prducts and isglucse 253 m ,000 tns f starch ptates and 820,000 tns f crn ~ 300 m FRUIT Wrld s leader in fruit preparatins and Eurpe s fremst manufacturer f fruit juice cncentrates Cnslidatin TOTAL 915 m 4,724 (57 m ) 1,916 m 8, ,000 tns f fruits 6,830,000 tns ~ 850 m ~ 1,900 m April 9,

4 AGRANA's Strategy Grwth in AGRANA's cre businesses SUGAR Strengthening the grup's leadership in Central Eurpe and fcus n a strng market psitin in the Balkan cuntries AGRANA aims t maintain its psitin as an efficiency and technlgy leader in the Central Eurpean sugar industry STARCH FRUIT April 9, Pursuing the strategy f increasing the utput f highly refined speciality starch prducts Fcus n the prductin f innvative custmer-rientated prducts and starch based slutins fr the custmers Enlargement f crn starch capacities as well as isglucse and biethanl prductin Full supply f the Austrian biethanl market and leading rle in CEEC AGRANA is aiming t cntinue faster-than-market grwth in fruit preparatins and fruit juice cncentrates Fruit Preparatins: further expansin arund the glbe, enabling AGRANA t service its glbal fd industry custmers Fruit Juice Cncentrates: further expansin beynd Eurpe Strng rganic grwth but als acquisitins under review

5 Cnsistent Grwth Strategy Develpment f prductin facilities within the last six years Segment Sugar Starch Fruit TOTAL 1 as f Feb. 29, Sugar factry Starch factry Fruit factry April 9,

6 Revenues t e AGRANA shws significantly strnger than market grwth in all its business segments. ~1,900.0 in m CAGR +13.5% p.a. 1, , April 9, e incl. 14 m Fruit

7 EBIT t e Steady grwth f prfitability within the last years. Prfit increased clearly ver revenues grwth. in m CAGR +14.5% p.a April 9, e incl. 14 m Fruit

8 AGRANA s Sharehlder Structure Shares utstanding: 14,202,040 Market capitalizatin (as f Feb. 29, 2008): ~ 1,024 m ~ 10.5% Raiffeisen Bank Cp. Lwer Austria ZBG Südzucker ~ 80% ~ 50% ~ 50% Free Flat Z & S Zucker und Stärke Hlding AG 24.5% 75.5% April 9,

9 Milestnes f current fiscal year May May September September Nvember Nvember December February April 9, AGRANA starts up new fruit preparatins plant in Cabreuva, Brazil 10 Years Anniversary f AGRANA Fruit Ukraine AGRANA starts trial peratin f the new biethanl plant in Pischelsdrf n schedule, Cmmdity bm requires pstpnement f start f prductin until spring 2008 AGRANA expects acceleratin f EU sugar regime refrm due t new incentives fr beet farmers and sugar industry fr renuncing quta AGRANA pens first-f-its-kind bigas plant in Kapsvár, Hungary Hungary t return 50% f its sugar quta t the restructuring fund - AGRANA cncentrates its sugar prductin at ne refinery AGRANA Fruit pens Innvatin and Prduct Develpment Center in Cleveland, USA Refrm f EU Sugar Regime prgresses Permanent reductin f additinal 2.6 mill. tnnes sugar quta was annunced in the perid t 31 January 2008 Nrdzucker quits sugar prductin in Hungary AGRANA is the sle sugar prducer in Hungary

10 SUGAR. AGRANA is the leading prducer f sugar in Central and Eastern Eurpe (CEE). April 9,

11 EU Sugar Regime The PAST: WTO panel decisin cuts sugar exprts Reductin f 2.2 millin tns sugar quta fr sugar marketing year int restructuring fund, substantially less than expected On Sept. 26, 2007 the EU-Cuncil has adpted the refrm f the sugar regime refrm The PRESENT: AGRANA expects acceleratin f the refrm prcess due t further 2.6 millin tnnes f permanent renunciatins until Jan. 31, 2008 AGRANA renunced quta f 13.5 % in Austria, 23 % in Slvakia, 30 % in Hungary (-> clsure f sugar plant in Petöhaza) in the first and secnd wave N preventive withdrawal fr sugar marketing year THE FUTURE: Only anther 0.4 millin tnnes will be needed t meet the refrm target f 6 millin tnnes f quta reductins by 2010 by a final cut f the EU-sugar quta fr all EU cuntries in sugar marketing year withut cmpensatin April 9, C-sugar The Future f EU Sugar Regime 20 millin tnnes EU sugar quta 1.6 1, ACP -2.6 Fllwing a WTO panel decisin, C-sugar exprts are n lnger permitted. WTO limits (current exprt qutas) LDC and Western Balkan Agreement

12 STARCH. AGRANA is a well psitined starch specialist in Eurpe. April 9,

13 Cntrast: Bidiesel and Biethanl Palm seed Rapeseed Sybean Wheat Crn Sugar beet juice Bidiesel Biethanl Added t DIESEL Added t PETROL April 9,

14 Price Develpment f Cereals Pstpnement f Biethanl peratin in Pischelsdrf Austria CORN Qutatin (MATIF) Histrical price peak because f reginal lw crps, high physical demand and speculatins n a glbal basis /tn Beginning f Octber price develpment recvered slightly WHEAT Qutatin (MATIF) Wheat prices dubled since the beginning f /tn Speculatins n internatinal cmmdity exchanges peak ff Ablitin f the EU s 10% set-aside scheme shuld lead t an increase in grain acreage and prductin in Eurpe in 2008 => additinal 4-6 % f EU s acreage fr grain prductin expected 2007: apprx. 1.5 % f ttal EU grain prductin was used fr ethanl prductin April 9,

15 Biethanl Activity by AGRANA Status Pischelsdrf Full capacity prductin start: end f May 2008 Cverage f raw material until new crp AGRANA expects realistic raw material price levels ( 200 /t) due t: Ablitin f 10 % set-aside scheme within EU in 2008 Higher prices mtivate farmers t intensify cultivatin f cereals Nrmal crp in CEECs Cntracts with OMV were cmpletely fulfilled via deliveries frm ther grup cmpanies Ethanl prices culd recver because f increasing sugar price and high dmestic Ethanl cnsumptin in Brazil April 9,

16 FRUIT. AGRANA is wrld s leading supplier f fruit preparatins and fruit juice cncentrates. April 9,

17 FRUIT Segment Business Mdel Fruit Preparatins Based n mstly frzen fruits tailr-made custmer prducts (several thusand receipts wrldwide) shelf life f the fruit preparatin: apprx. 6 weeks -> necessity t prduce reginal Fruit Juice Cncentrates Prductin f fruit juice cncentrates frm fresh fruits in the grwing area f the fruits (water cntent and quality f the fruits dn't allw far transprts) shelf life f fruit juice cncentrates: apprx. 2 years can be shipped arund the wrld April 9,

18 FRUIT Segment Market psitin Fruit Preparatins High market grwth in Russia, USA, Mexic, Brazil, China. Additinal prductin sites t meet grwing needs f new custmers Market entry in regins with high grwth ptential where AGRANA custmers are already perating (Yghurt prducers) Fruit Juice Cncentrates Further grwth in existing markets Increase in market share via distributin channel enhancement in the EU and Russia current prductin plants grwth area April 9,

19 FRUIT Segment Key Cnsumer Trends Glbal CAGR f: 5,0% Cntinuus grwth in Fruit Preps & Fruit Juice until Main grwth cntributrs in Fruit are expected t be China, Russia, Eastern Eurpe and the Americas tnnes Key Cnsumer Trends Wellness, Vitality & Fitness f 2010f Yghurt and Chilled Desserts Glbal CAGR f: 6,0% Surce: Leatherhead 2005 and 2007, Glbal Fd Markets, Intern. Overview Cnvenience 70,0 60,0 49,5 52,7 62,2 Pleasure, New Taste, Refreshing Functinality cmbined with psitive effect n immune system bn litres 50,0 40,0 30,0 20,0 43,1 45,4 10,0 0, f 2010f Fruit Juices & Drinks Surce: Leatherhead 2005 and 2007, Glbal Fd Markets, Intern. Overview April 9,

20 Outlk April 9,

21 Outlk fr Financial Year Grup Revenue Frecast : ~ 1.9 bn Key factrs: - Sugar: lwer quantities t market (EU Sugar Regime) - Starch: rganic grwth > 10%, price increases cmpensate raw material price increases - Fruit: financial perid f 12 instead f 14 mnths, rganic grwth and price increases due t higher raw material csts SUGAR: Lwer sugar revenues due t reduced sugar qutas Efficiency imprvements in prductin and marketing Out f Quta-Beet-Cntracts fr the chemical industry STARCH: Gd perfrmance despite extrardinary high crn price increase Over-Cmpensatin f lwer than expected biethanl revenues FRUIT: Organic grwth especially in CEECs, Asia and the Americas Strengthening f earnings by utilisatin f synergies April 9,

22 Outlk SUGAR Segment Cnslidatin in CEECs Brčk plant start-up Strng market psitin in the Balkan regin STARCH Segment Grup Revenues Frecast > 2,100 m 1,916 m (1) ~ 1,900 m 1,500 m ~47% ~48% 48% Grwing revenues due t capacity increases and specialisatin strategy % 14% 11% ~14% ~20% Biethanl prvides additinal grwth FRUIT Segment % 41% ~38% ~33% Strng rganic grwth Further acquisitins r green field peratins e e Sugar Starch Fruit (1) Revenues include 14 mnths fr fruit cmpanies April 9,

23 Market Develpments in SUGAR Segment Increase f Wrld Market Prices expected Market recvery as a cnsequence f EU sugar market refrm end f 2008 at the earliest STARCH Segment Cntinuus market grwth fr starch prducts in emerging markets Specialisatin strategy will safeguard better prduct mix and attractive margins Prfitable biethanl prductin requires either an increase in ethanlprices r/and lwer raw material prices FRUIT Segment Cntinuus grwth wrld wide Average glbal grwth rate f 5 % (Fruit) resp. 6 % (Juice) until 2010 Nrmalisatin f crp situatins and price levels f raw materials April 9,

24 Planned activities in SUGAR Segment Cmpletin f the restructuring prgram Investment fcus: imprvement f energy efficiency Start up Brck refinery STARCH Segment Full capacity f biethanl activities Full 3,000 tns daily grind at Hungrana FRUIT Segment Expansin prjects in grwing regins, esp. Mscw April 9,

25 Disclaimer This presentatin is being prvided t yu slely fr yur infrmatin and may nt be reprduced r further distributed t any ther persn r published, in whle r in part, fr any purpse. This presentatin cmprises the written materials/slides fr a presentatin cncerning AGRANA Beteiligungs-Aktiengesellschaft ( Cmpany ) and its business. This presentatin des nt cnstitute r frm part f any ffer r invitatin t sell r issue, r any slicitatin f any ffer t purchase r subscribe fr, any shares in the Cmpany, nr shall it r any part f it frm the basis f, r be relied n in cnnectin with, any cntract r investment decisin. This presentatin includes frward-lking statements, i.e. statements that are nt histrical facts, including statements abut the Cmpany's beliefs and expectatins and the Cmpany's targets fr future perfrmance are frward-lking statements. These statements are based n current plans, estimates and prjectins, and therefre investrs shuld nt place undue reliance n them. Frward-lking statements speak nly as f the date they are made, and the Cmpany undertakes n bligatin t update publicly any f them in light f new infrmatin r future events. Althugh care has been taken t ensure that the facts stated in the presentatin are accurate, and that the pinins expressed are fair and reasnable, the cntents f this presentatin have nt been verified by the Cmpany n representatin r warranty, express r implied, is given by r n behalf f the Cmpany any f its respective directrs, r any ther persn as t the accuracy r cmpleteness f the infrmatin r pinins cntained in this presentatin. Neither the Cmpany nr any f its respective members, directrs, fficers r emplyees r any ther persn accepts any liability whatsever fr any lss hwsever arising frm any use f this presentatin r its cntents r therwise arising in cnnectin therewith. April 9,