Investor Presentaiton
Core Debt bridge
FY18 - FY19 CORE DEBT (1) ($M)
Final dividend
- FY18
514
FY18
30
(14)
157
Transaction
costs
Other funds
from
operations
Increased
working
capital (2)
18
97
Capex
•
Core Debt increased by $288M between FY18 and FY19.
•
Working capital increased in FY19 predominantly due to:
802
FY19
- increase in working capital requirements for ECA grain imports (~$40M), continuing into FY20;
- timing of receivables for Grains and Oils export customers (~$30M); and
increase in working capital requirements for Malt (~$50M) due to increased sales volumes.
1.
Core Debt = total debt less cash less commodity inventory (Grains - trading, Oils).
2.
Trade & Other Receivables + Commodity Inventory (Net of commodity inventory funding) + Other Inventories
less Trade & Other Payables
GrainCorp
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