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Wingara : WNR Investor Presentation FY22 H1

11/25/2021 | 05:50pm

onlyuse30 September 2021

Half year results

ersonalJames Whiteside (CEO) and Jae Tan (CFO)


This presentation has been prepared by Wingara for professional investors. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular need of any particular person.

onlywithout limitation, any liability arising out of fault. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness,

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in the presentation. To the maximum extent permitted by law, none of Wingara, its directors, employees or agents, nor any other person accepts any liability, including,

likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. useSuch forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies.

Forward looking statements relating to projections and estimates involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements, expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, commodity prices and market conditions, effects of the coronavirus pandemic, technical failures and delays, foreign exchange fluctuations and general economic conditions, increased costs, the risk and uncertainties associated with agriculture and the natural environment,


po itical and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including unusual or extreme weather conditions, retention of personnel, industrial relations issues and litigation.

Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance.

The distribution of this document in jurisdictions outside Australia may be restricted by law. Any recipient of this document outside Australia must seek advice on and ob erve such restrictions.


ersonal use only

Business update

James Whiteside | Chief Executive Officer


Strong revenue growth, market and legacy issues impact EBITDA.

  • Strong 49% revenue growth driven by an increase in hay production volumes from 27.7k to 44.1k tonnes. Capital investment driving up machine up time.




EBITDA from continuing operations performance falling 66% to $0.6m (H1 FY21: $1.7m).

  • Continued to work through high priced inventory and fixed price sales contracts from last season.
  • Rising storage and international shipping costs as a consequence of the pandemic.
  • Unfavourable currency hedges entered 12 months ago.
  • Fewer capital projects resulted in higher allocation of engineering costs to operations

Strong market demand supporting increased production volumes and requiring focus and investment in plant reliability and uptime

Investments in H1 have built momentum, which will become evident in H2, supported by a successful capital raise of $4.4m, net of transaction costs.

Austco Polar is now classified as held for sale on the income statement contributing NPAT loss of $1.6m, unfavourable by 131% from last half. Sales process for Austco has commenced.

Renewed focus on safety performance and management to drive down high injury frequency rates.


H1 FY22 Headlines

Revenue up $6.2m (or 49%) strong hay production

volume growth to service strong customer demand.


Record 6 month hay production volumes with 59%

growth to 44.1k tonnes.

EBITDA down by 66% at $0.6m.


Successful capital raise of $4.4m (net of transaction

costs) plus positive operating cash flows up 463% HOH

resulting in Net debt (excluding finance leases)

reduction of 39% to $5.6m.

Safety management now a key area of focus, with


improving safety management systems and reporting.

*Production tonnes refers to hay production for JC Tanloden

**Blast cartons refers to meat cartons for Austco Polar Cold Storage pcp = prior comparative period

HOH = half-on-half


$18.9m of revenue, up 49% HOH

44.1k production tonnes, up 59% HOH

1.0m blast cartons, up 22% HOH

$1.1m of operating cash flows, up 463% HOH Net debt down 39% Vs 31-March to $5.6m

11.0k MT inventory on hand, down 10% Vs 31-March


$0.6m EBITDA before significant items, down 66% HOH

38% gross margin, down 2pp HOH


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Wingara AG Ltd. published this content on 25 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2021 22:49:02 UTC.

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