Investor Presentaiton
BALANCE SHEET
HIGHER FEED COSTS AND AVERAGE SELLING PRICES INCREASING WORKING CAPITAL
INGHAM'S
Always Good
Inventories: Increased $12.0M due largely to an increase in
Biological assets during the period, reflecting higher cost of feed
$M
Dec-22
Jun-22
Variance
Inventories/Biologicals¹
396.0
384.0
12.0
Feed inventories declined marginally due to reduction in physical
purchases, offset by cost increases
Receivables: Increased $51.0M due to higher seasonal sales,
higher ASP and annual insurance prepayment
Payables: Trade payables increased largely due to an increase in
the inventory procurement payable as a result of an increase in the
underlying cost of feed
Right-of-use Assets: Declined $57.1M, mainly attributable to a
reduction in Contract Growers, due to amortisation offset by
additions, CPI increases and lease extensions.
Lease Liabilities: Decreased $61.6M due to lease payments
offset by additions, CPI increases and lease extensions
Net Debt: Increased by $26.9M mainly due to higher working
capital
Tax balance: Increased mainly due to deferred tax asset relating
to the timing differences arising from the movements in provisions,
employee benefits and inventories
Working Capital
Provisions
Other Assets
Lease Liabilities
Receivables1
274.6
223.6
51.0
Payables
(465.2)
(455.5)
(9.7)
205.4
152.1
53.3
(146.2)
(138.3)
(7.9)
Working Capital & Provisions
59.2
13.8
45.4
Property, Plant & Equipment
Right-of-use Assets
476.2
477.3
(1.1)
1,262.3
1,319.4
(57.1)
3.0
13.3
(10.3)
(1,342.0)
(1,403.6)
61.6
Capital employed
458.7
420.2
38.5
Net Debt
(294.2)
(267.3)
(26.9)
Net Tax balances
10.0
5.3
4.7
Net Assets
174.5
158.2
16.3
1. Provisions within Inventories and Trade Receivables have been reclassed to 'Provisions'
14View entire presentation