Investor Presentaiton
FY19 overview
$M
Underlying EBITDA(1)
Underlying NPAT(2)
Statutory NPAT(3)
Dividend (cents per share) – 100% franked
FY19
FY18
69
269
(82)
71
(113)
71
16
•
•
•
•
.
Overview: Extremely challenging year with lower grain throughput and depressed oilseed crush margins due to drought
in eastern Australia; and impact from disruptions in international grain trade flows. Malt continued to perform well.
Malt: Solid customer demand, high capacity utilisation and continued operational efficiency. Large skew in earnings to
second half, predominantly reflecting increased beer consumption in the northern hemisphere in summer months.
Grains: Substantial decline in eastern Australian grain production leading to grain deficits and lower receivals, exports
and rail utilisation. Impacted by global trade tensions and disruptions to grain trade flows. Port supply chain reversed to
enable imports (trans-shipments) from WA, SA and VIC to eastern Australia to manage grain deficits.
Oils: Good performance from Bulk Liquid Terminals; oilseed crush margins down due to limited Australian canola
supply resulting from drought.
Portfolio review: Conducted portfolio review during year: announced proposed sale of Australian Bulk Liquid Terminals;
integration of Grains and Oils; proposed demerger of Malt business (via Scheme of Arrangement).
Received non-binding indicative proposal from Long Term Asset Partners (LTAP) for 100% of shares in GrainCorp in
December 2018. Offer subsequently withdrawn in May 2019.
1.
Underlying EBITDA is a non-IFRS measure representing earnings before interest, tax, depreciation and amortisation, before significant items.
2.
Net profit/loss after tax and before significant items is a non-IFRS measure.
3.
Net profit/loss after tax and after significant items of $31 million after tax.
GrainCorp
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