Company Presentation – 4Q and FY 2014 Results€¦ · Company Presentation – 4Q and FY 2014 Results 27 February 2015. Integrated Agribusiness with Leading Brands 2 Presentation

Company Presentation – 4Q and FY 2014 Results27 February 2015

Integrated Agribusiness with Leading Brands

2

Presentation Outline

11 Business OverviewBusiness Overview

22 Plantation Highlights Plantation Highlights

33 Financial Highlights Financial Highlights

44 Strategies and ExpansionStrategies and Expansion

55 AppendixAppendix

3

Section 1 Business Overview


4

Integrated and Diversified Agribusiness Group

Capturing value across the entire supply chainUpstream Downstream

R&D / Seed Breeding Plantations Mills Edible oils and

fats Distribution

33m oil palm seeds p.a.

Develops sugar varieties

33m oil palm seeds p.a.

Develops sugar varieties

22 palm oil mills at capacity 5.7m MT p.a.

2 sugar mills/refineries in Indonesia at capacity 2.2m MT p.a. ; 1 sugar mill in Brazil at capacity 3.8m MT p.a.

4 crumb/ 3 sheet rubber factories

22 palm oil mills at capacity 5.7m MT p.a.

2 sugar mills/refineries in Indonesia at capacity 2.2m MT p.a. ; 1 sugar mill in Brazil at capacity 3.8m MT p.a.

4 crumb/ 3 sheet rubber factories

Leading market share in Indonesia branded cooking oil and margarine marketsStrong sales and marketing expertise and extensive distribution network, serving ~370,000 retail outlets in IndonesiaLeverage on Indofood’s 1,100 stock points5 refineries at capacity: 1.4m MT p.a.

Leading market share in Indonesia branded cooking oil and margarine marketsStrong sales and marketing expertise and extensive distribution network, serving ~370,000 retail outlets in IndonesiaLeverage on Indofood’s 1,100 stock points5 refineries at capacity: 1.4m MT p.a.

* As of 31 Dec 2014

Diversified crops IndonesiaPalm: 246,055Ha

Production FY14CPO: 956,000MTPK: 218,000MTIndonesiaCane: 13,062HaBrazilSugar Cane: 47,554Ha

Rubber: 21,697Ha

Diversified crops IndonesiaPalm: 246,055Ha

Production FY14CPO: 956,000MTPK: 218,000MTIndonesiaCane: 13,062HaBrazilSugar Cane: 47,554Ha

Rubber: 21,697Ha


5

Total Nucleus Oil Palm Planted Area

New Plantings ≈ 60,000 Ha in Last 5 Years (2010 – 2014)

155,40076%

158,16373%

176,10576%

177,09974%

185,18175%

49,66424%

58,67427%

54,81324%

62,82226%

60,87425%

2010 2011 2012 2013 2014

Oil Palm Planted Area ‐ Nucleus

Immature

Mature

in Ha

205,064 216,837 230,918 239,921 246,055

14,072 13,884 13,383

9,791

6,350

2010 2011 2012 2013 2014

Oil Palm New Planting in Ha

6

Section 2 Plantation Highlights


7

Planted Area

Oil Palm Average Age ≈ 13 years

(1) As at 31 Dec 2014, the Group has ≈ 86,890 Ha of planted oil palm plasma area. Where 478 Ha were new planting in FY14.

(2) FY14 new plantings for oil palm were 6,350 Ha vs. 9,791 Ha in FY13.

Mature area increased by 9,749 Ha in FY14.

246,055 Ha 153,921 Ha 92,135 Ha

24% 29%17%

6%5%

8%

46% 35%64%

24% 31%11%

Group SIMP Lonsum

Immature 4-6 years 7-20 years > 20 years

In Ha 31 Dec 2014 31 Dec 2013 Change

IndonesiaPlanted Area 300,050 292,768 7,282

Planted Oil Palm(1) 246,055 239,921 6,134 - SIMP 153,921 150,076 3,845 - Lonsum 92,135 89,845 2,290

Planted Other crops 53,995 52,847 1,148 Rubber 21,697 21,759 (62)- SIMP 4,409 4,409 - - Lonsum 17,288 17,350 (62)Sugar cane - SIMP 13,062 11,645 1,417 Cocoa & tea - Lonsum 3,067 3,384 (317)Industrial timber - SIMP 16,169 16,059 110

Brazil Sugar cane - CMAA 47,554 42,517 5,037 - Company-owned 24,292 20,755 3,537 - Third party 23,262 21,762 1,500

(2)


8

Oil Palm Plantation Highlights

Achieved flattish production in 4Q14 yoy, partly affected by the dry weather in North and Central Sumatra during 1Q this yearFY14 FFB nucleus production growth driven by higher production from South Sumatra and Kalimantan

FY14 FY13 YoYGrowth 4Q14 4Q13 YoY

Growth 3Q14 QoQGrowth

PRODUCTION

Mature Area (Ha) 185,181 177,099 5% 185,181 177,099 5% 185,187 0%

FFB ('000 MT) 4,372 3,761 16% 1,140 1,135 0% 1,216 (6%) - Nucleus ('000 MT) 3,259 2,895 13% 852 852 0% 919 (7%) - External ('000 MT) 1,112 866 28% 288 284 2% 297 (3%)

CPO ('000 MT) 956 810 18% 249 245 1% 264 (6%)

PK ('000 MT) 218 187 16% 58 57 1% 60 (4%)

PRODUCTIVITY

FFB Yield – Nucleus (MT/Ha) 17.6 16.3 4.6 4.8 5.0

CPO Yield – Nucleus (MT/Ha) 3.9 3.6 1.0 1.1 1.1

CPO Extraction Rate (%) 22.4 22.1 22.5 22.3 22.1

PK Extraction Rate (%) 5.1 5.1 5.2 5.2 5.0


9

Oil Palm Production TrendsGrowth

FFB - NucleusFY14 YoY : 13%4Q14 YoY : 0%4Q14 QoQ : (7%)

FFB - ExternalFY14 YoY : 28%4Q14 YoY : 2%4Q14 QoQ : (3%)

CPOFY14 YoY : 18%4Q14 YoY : 1%4Q14 QoQ : (6%)190 210

239 241

182 174 209

245 210

234 264 249

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14

'000 MT

CPO Production

630 703

825 815

628 637 778

852 706

782 919

852

255 257 294 328 216 161 205

284 252 274 297 288

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14

'000 MT

FFB Production

FFB - Nucleus FFB - External

45% 55% 44% 56% 46% 54%


10

Sugar Plantation Highlights

(1) Harvested cane related to Komering sugar cane plantation

(2) Of the 47,554 Ha planted sugar cane, 51% owned by CMAA and 49% contracted to 3rd party farmers

INDONESIA FY14 FY13 YoYGrowth 4Q14 4Q13 YoY


Planted Area (Ha) 13,062 11,645 12% 13,062 11,645 12% 12,829 2% Sugar Cane Harvested (‘000 MT)(1) 701 758 (7%) 0 226 n/m 332 n/m

Sugar Production (‘000 MT) 66 78 (15%) 3 30 (89%) 33 (90%) From sugar cane

- South Sumatra Plantation 54 53 1% 0 15 n/m 25 n/m

- Java (LPI's share) 13 9 38% 3 3 0% 8 (60%) From raw sugar 0 16 n/m 0 12 n/m 0 -

BRAZIL Apr 14- Dec 14

Apr 13- Dec 13

Planted Area (Ha)(2) 47,554 42,517

Sugar Cane Harvested (‘000 MT) 3,511 3,025

Raw Sugar Production ('000 MT) 224 187

Ethanol ('000 M3) 145 136

11

Section 3 Financial Highlights


12

Results Summary

* EBITDA excluding biological asset gains/(losses) and forex gains/(losses)

Financial Highlights4Q14 revenue up 12% yoy on higher sales volume ofCPO, but this was partly offset by lower ASP of palmproduct. EBITDA down 3% yoy on higher operatingexpenses and share of losses of associates.Achieved a good set of FY14 results on positivecontribution from the Plantation Division. In line withthis, EBITDA and attributable profit up 30% and 45%yoy.

Operational HighlightsAchieved strong production growth for FY14 with FFBnucleus production up 13% yoy to 3,259,000 tonnes.This was mainly attributable to strong growth fromnewly matured estates in South Sumatra andKalimantan.FY14 CPO production grew 18% to 956,000 tonnesarising from higher nucleus production and higherpurchases of FFB from external parties.

3,749 4,192

13,280 14,9631,257 906

3,7985,149

Rp bnRevenueInter-segment

External

4Q13 4Q14

5,006 5,099+2%

+12%

FY13 FY14

17,07720,112

+13%

+18%

1,040 1,008

2,614

3,401

4Q13 4Q14 FY13 FY14

Rp BnEBITDA*

‐3%

+30%


13

Sales Volume

FY14 CPO sales volume was higher yoy in line with production growthEOF reported positive volume growth in underlying branded products, but this was partly offset by lower coconut oil and bulk oil sales.

In '000 MT FY14 FY13 YoYGrowth 4Q14 4Q13 YoY


Plantation

CPO 957 864 11% 288 235 23% 246 17%

Palm Kernel 193 190 1% 48 56 (15%) 54 (11%)

Sugar 73 76 (3%) 16 32 (49%) 33 (51%)

Rubber 16.0 15.9 1% 4.5 3.8 16% 3.6 23%

Oil Palm Seeds ('million) 9.2 17.9 (49%) 3.3 3.8 (15%) 2.6 27%

Edible Oils & Fats (EOF)

Cooking Oil, Margarine and Coconut Oil 755 790 (4%) 180 195 (8%) 172 5%


14

Sales Volume Trend

Growth

CPOFY14 YoY : 11%4Q14 YoY : 23%4Q14 QoQ : 17%

PKFY14 YoY : 1%4Q14 YoY : (15%)4Q14 QoQ : (11%)

Edible Oils & FatsFY14 YoY : (4%)4Q14 YoY : (8%)4Q14 QoQ : 5%

182 220 217 209 208 225

195

235 213 210

246 288

49 45 56 53 45 43 46 56 45 47 54 48

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14

'000 MT

CPO and PK - Sales Volume

CPO PK

206 217 196 189 182

215 198 195 189 215

172 180

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14

'000 MT

Edible Oils & Fats - Sales Volume


15

Average Selling Price (ASP) Trend

Growth

CPO FY14 YoY : 14%4Q14 YoY : (8%)4Q14 QoQ : (2%)

PK FY14 YoY : 44%4Q14 YoY : (6%)4Q14 QoQ : (11%)

RubberFY14 YoY : (18%)4Q14 YoY : (28%)4Q14 QoQ : (9%)

7,484 8,089

7,459 6,227 6,273 6,666

7,373

8,399 8,994 8,468

7,917 7,751

4,158 4,160 3,534

2,917 2,806 3,084 3,574

4,338

5,810 5,876 4,565

4,077

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14

Rp / kgCPO and PK - ASP

CPO PK

32,784 28,649 26,625 25,755 27,052

22,230 22,933 24,549 23,890 18,096 19,409 17,574

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14

Rp / kg

Rubber - ASP


16

Financial Summary

* EBITDA excluding biological asset gains/(losses) and forex gains/(losses)** Operating profit excluding biological asset gains/(losses)

The Group delivered a good set of results for FY14 on strong contribution from the Plantation Division. In line with this, attributable profit up 45% yoy.

In Rp Bn FY14 FY13 YoY Growth 4Q14 4Q13 YoY


Sales 14,963 13,280 13% 4,192 3,749 12% 3,602 16%

EBITDA* 3,401 2,614 30% 1,008 1,040 (3%) 737 37%

Operating profit** 2,536 1,692 50% 840 830 1% 424 98%

Gain arising from changes in FV of biological assets 60 62 (3%) 60 62 (3%) -

Net profit 1,328 921 44% 404 519 (21%) 207 96%

Attributable profit 759 523 45% 225 228 (1%) 125 81%

Attributable profit exclude biological assets gain

734 476 54% 200 180 11% -

EPS (fully diluted) - Rp 535 366 46% 159 159 0% 88 81%

EBITDA margin 23% 20% 24% 28% 20%

Operating profit margin 17% 13% 20% 22% 12%

Net profit margin 9% 7% 10% 14% 6%

Attributable profit margin 5% 4% 5% 6% 3%


17

Segmental Results

(1) Net effects arising from elimination of unrealised profit of inter-division inventories, SFRS adjustment and regional office costs.

In Rp Bn FY14 FY13 YoY Growth 4Q14 4Q13 YoY

Growth 3Q14 QoQ Growth

Sales

Plantations 10,278 8,450 22% 2,833 2,737 3% 2,680 6%

Edible Oil & Fats 9,835 8,627 14% 2,266 2,269 (0%) 2,329 (3%)

Elimination & Adjustments (5,149) (3,798) 36% (906) (1,257) (28%) (1,407) (36%)

Total 14,963 13,280 13% 4,192 3,749 12% 3,602 16%

EBITDAPlantations 3,100 2,263 37% 765 1,088 (30%) 812 (6%)

EBITDA % 30% 27% 27% 40% 30%Edible Oil & Fats 200 393 (49%) 68 25 168% 44 53%

EBITDA % 2% 5% 3% 1% 2%

Elimination & Adjustments(1) 101 (41) n/m 175 (73) n/m (118) n/m

Sub-total 3,401 2,614 30% 1,008 1,040 (3%) 737 37%

Net Forex Gains/(Losses) (111) (201) n/m (50) (108) n/m (55) n/m

Total 3,290 2,414 36% 958 932 3% 682 40%


18

By Geographical Location

FY14 FY13

Indonesia remained our dominant market with 90% of sales derived from the domestic market, mainly comprised of edible oil product, palm product, palm seeds and sugarExports to the United States and Europe mainly comprised of copra-based product and rubberWhile exports to Asia, Africa, Middle East & Oceania comprised of edible oil products

External Revenue Breakdown

Indonesia , 90%

Asia, 8%

Europe, 1%

Africa, Middle East & Oceania,

1%

Indonesia, 88%

Asia, 6%

Europe, 4%

America, 1%

Africa, Middle East & Oceania,

1%


19

Financial Position

* Total equity includes shareholders funds and minority interests** Converted at Rp9,422/S$1

Balance Sheet (In Rp Bn) 31-Dec-14 31-Dec-13

TOTAL ASSETS 40,155 37,705Cash 3,586 3,803TOTAL LIABILITIES 16,437 14,872Interest Bearing Debt 9,817 8,795TOTAL EQUITY* 23,717 22,833

Net Debt / EBITDA Ratio 1.83x 1.91xNet Debt / Total Equity Ratio 0.26x 0.22xNet Assets Value per Share (in Rupiah) 10,322 9,876Net Assets Value per Share (in SGD) ** 1.10 1.03

Cash Flow (In Rp Bn) FY14 FY13

Net Cash Flow generated from Operating Activities 2,783 2,166Net Cash Flow used in Investing Activities (3,707) (4,830)Net Cash Flow generated from Financing Activities 690 1,119Net Increase (Decrease) in Cash & Cash Equivalents (234) (1,545)Net Effect of Changes in Forex 17 266

Sub-total (217) (1,279)Cash & Cash Equivalent - Beginning 3,803 5,082Cash & Cash Equivalent - Ending 3,586 3,803

20

Section 4 Strategies and Expansion


21

IndonesiaAchieved new plantings of 6,350 Ha for oil palm and 1,527 Ha for sugarcane

Expansion of plantation production facilitiesConstructed a 150MT/day PKO plant in Riau in 1Q 2014Constructed one 80MT/hour new mill in South Sumatra in 2Q 2014Expanded two 40MT/hour mills, one in South Sumatra to 60MT/hour and one in WestKalimantan to 80MT/hour in 4Q 2014Started construction for two 45MT/hour new mills in Kalimantan due for completion in 2015

On sustainability frontAchieved additional RSPO Certified CPO of 84,000 tonnes in 2014, bringing total CSPOproduction to 332,000 tonnes or 35% of 2014 productionAudited against Indonesian Sustainable Palm Oil (ISPO) system, and currently around45,000 tonnes or 5% of our total CPO production are certified under ISPOIndoAgri published its 2nd Sustainability Report in 2014

Expansion of downstream facilitiesConstructed a 200 MT/day margarine plant at Tanjung Priok in 2014

Outside IndonesiaCMAA in Brazil has expanded its cane crushing capacity from 3.0 million to 3.8 million MT/year inApril 2014CMAA achieved Bonsucro certification for 111,360 tonnes of sustainable sugarcane production,amounting to 3% of its total production in 2014

2014 – Achievements


22

Focus organic expansion on new plantings of oil palm and sugar plantations inIndonesia

Expansion of plantation production facilitiesFive new mills ranging from 30MT to 45MT/hour, of which two new mills in SouthSumatra and three mills Kalimantan. Three of these mills are expected to becompleted in 2016

Diversify into other crops, conducting corn hybrid variety trials in Berau, Kalimantan

Enhance agronomic strategies to improve yield and productivityIntroduce drones to capture accurate topographical data and real time images ofour plantationsImplement a fingerprint recognition system to authenticate the data entry ofworker’s daily activities across all estates.Install GPS devices on trucks for monitoring of harvesting and other logisticactivities

2015 – Strategies and Expansion

23

Section 5 Appendix


24

Corporate Structure

Note:(1) IndoAgri is 60.5% effectively owned by Indofood(2) Indofood has a direct interest of 6.5% in SIMP(3) Based on total number issued shares, excluding the following shares held in treasury as of 31 Dec 2014

• IndoAgri : 30,500,000• SIMP : 315,000,000• Lonsum : 2,900,000

59.5%

73.5%10.2%

Roxas

50.0%


25

Planted AreaOil Palm

MatureImmature

RubberSugar CaneIndustrial TimberCocoa & TeaTotal Planted AreaFacilities Unit Capacity MT p.a Unit Capacity MT p.a Unit Capacity MT p.aOil Palm Seeds (mn seeds) 1 25 1 8 2 33 Palm Oil Mills 11 2,295,000 11 3,395,250 22 5,690,250 Crumb Rubber Facility 4 42,720 - - 4 42,720 Sheet Rubber Facility 3 11,100 - - 3 11,100 Sugar Mill & Refinery - - 2 2,160,000 2 2,160,000

Facilities Unit Capacity MT p.a Unit Capacity MT p.a Unit Capacity MT p.aCPO Refinery - - 5 1,425,000 5 1,425,000

LONSUM SIMP GROUPUPSTREAM UPSTREAM UPSTREAM

Hectare Hectare Hectare92,135 153,921 246,055 76,652 108,529 185,181 15,483 45,391 60,874 17,288 4,409 21,697

- 13,062 13,062 - 16,169 16,169

3,067 - 3,067 112,490 187,561 300,050

DOWNSTREAM DOWNSTREAM DOWNSTREAM

Integrated and Diversified Agribusiness Group


26 26

2007

Key Growth Milestones

SIMP’s merger to become an integrated plantation businessKalimantan and South Sumatra acquisition, increasing land bank to ~224,000 haSIMP’s merger to become an integrated plantation businessKalimantan and South Sumatra acquisition, increasing land bank to ~224,000 ha2006

Injected 90% of SIMP into CityAxis via RTO, changed name to IndoAgri and listed on SGXAcquisition of 58.8% effective stake in Lonsum Total land bank of ~400,000 ha

Injected 90% of SIMP into CityAxis via RTO, changed name to IndoAgri and listed on SGXAcquisition of 58.8% effective stake in Lonsum Total land bank of ~400,000 ha

Acquired 60% stake in LPI – entering the Indonesian sugar businessAcquired 82,300 ha in South Sumatra & Central Kalimantan, landbank ~483,000 haAcquired 60% stake in LPI – entering the Indonesian sugar businessAcquired 82,300 ha in South Sumatra & Central Kalimantan, landbank ~483,000 ha2008

IFAR acquired 50% in CMAA in Brazil and 10.2% in RHI in PhilippinesAcquired ~73,000 ha of industrial forestry plantations in East KalimantanRSPO certification increased to 291,000 MT of CPO (36% of FY13 production and planted area)

IFAR acquired 50% in CMAA in Brazil and 10.2% in RHI in PhilippinesAcquired ~73,000 ha of industrial forestry plantations in East KalimantanRSPO certification increased to 291,000 MT of CPO (36% of FY13 production and planted area)

Raised Rp 730 billion 5-year Indonesian Rupiah BondRaised Rp 730 billion 5-year Indonesian Rupiah Bond2009

2013•Oil palm

•Sugar cane •Rubber

2011SIMP listed on IDX, raised Rp3.35 trillion for 20% placementSIMP listed on IDX, raised Rp3.35 trillion for 20% placement

IFAR has successfully grown its business to become one of the largest agribusiness groups in Indonesia

IFAR has successfully grown its business to become one of the largest agribusiness groups in Indonesia

RSPO certification 332,000 MT of CPO (35% of FY14 production)RSPO certification 332,000 MT of CPO (35% of FY14 production)2014


27

CMAA acquisition completed in June 2013. Key rationale:Expansion of our presence into the sugar, ethanol and co-generation industry in BrazilSuperior technical know-how and best practices from Brazil that can be transferredback to IndoAgri’s Indonesia sugar operationsEarnings accretive investmentwith a strong local partner in an expanding business

Key Highlights:1 sugar cane factory with a total cane crushing capacity of 3.8m MT p.a.; supplementedby ethanol and co-generation plantsAs of Dec 2014, planted area was 47,554 Ha, of which 51% owned by CMAA.In 2014, harvested cane were 3.5 million MT, producing 224,000 MT of raw sugar and145,000 m3 ethanol

Overseas Expansion – CMAA Brazil (Minas Gerais Province)


28

Geographical Presence

UnitCapacity p.a(MT FFB) Unit

Capacity p.a(MT Dry Rubber) Unit

Capacity p.a(MT Dry Rubber) Unit

Capacity p.a(MT Sugar Cane) Unit

Capacity p.a(MT CPO)

SIMP 11 3,395,250 ‐ ‐ ‐ ‐ 2 2,160,000 5 1,425,000 Lonsum 11 2,295,000 4 42,720 3 11,100 ‐ ‐ ‐ ‐ CMAA ‐ Brazil ‐ ‐ ‐ ‐ ‐ ‐ 1 3,800,000 ‐ ‐ Group 22 5,690,250 4 42,720 3 11,100 3 5,960,000 5 1,425,000

RefineryFacilities

Palm Oil Mill Crumb Rubber Facility Sheet Rubber Facility Sugar Mill & Refinery


29

Production BreakdownFY14 FY13 YoY

Growth 4Q14 4Q13 YoYGrowth 3Q14 QoQ

GrowthPRODUCTIONMature Area 185,181 177,099 5% 185,181 177,099 5% 185,187 0% - SIMP (Ha) 108,529 102,155 6% 108,529 102,155 6% 108,529 0% - Lonsum (Ha) 76,652 74,944 2% 76,652 74,944 2% 76,658 0%

FFB 4,372 3,761 16% 1,140 1,135 0% 1,216 (6%) - Nucleus 3,259 2,895 13% 852 852 0% 919 (7%) - SIMP ('000 MT) 1,918 1,644 17% 522 469 11% 560 (7%) - Lonsum ('000 MT) 1,341 1,250 7% 331 383 (14%) 359 (8%)

- External 1,112 866 28% 288 284 2% 297 (3%) - SIMP ('000 MT) 567 454 25% 152 140 9% 144 6% - Lonsum ('000 MT) 567 477 19% 148 156 (5%) 155 (5%)

CPO 956 810 18% 249 245 1% 264 (6%) - SIMP ('000 MT) 513 414 24% 136 121 13% 145 (6%) - Lonsum ('000 MT) 443 396 12% 112 124 (10%) 119 (5%)

PK 218 187 16% 58 57 1% 60 (4%) - SIMP ('000 MT) 108 93 16% 29 27 10% 31 (4%) - Lonsum ('000 MT) 109 94 16% 28 30 (7%) 29 (4%)

PRODUCTIVITY

FFB Yield – Nucleus (MT/Ha) 17.6 16.3 4.6 4.8 5.0 - SIMP (MT/Ha) 17.7 16.1 4.8 4.6 5.2 - Lonsum (MT/Ha) 17.5 16.7 4.3 5.1 4.7

CPO Yield – Nucleus (MT/Ha) 3.9 3.6 1.0 1.1 1.1 - SIMP (MT/Ha) 3.8 3.4 1.0 1.0 1.1 - Lonsum (MT/Ha) 4.1 3.9 1.0 1.2 1.1

CPO Extraction Rate (%) 22.4 22.1 22.5 22.3 22.1 - SIMP (%) 21.7 21.3 21.8 21.7 21.4 - Lonsum (%) 23.2 22.9 23.5 23.0 23.0

PK Extraction Rate (%) 5.1 5.1 5.2 5.2 5.0 - SIMP (%) 4.6 4.8 4.7 4.8 4.5 - Lonsum (%) 5.7 5.5 5.9 5.6 5.7

Documents

Company Presentation – 4Q and FY 2014 Results€¦ · Company Presentation – 4Q and FY 2014 Results 27 February 2015. Integrated Agribusiness with Leading Brands 2 Presentation