PGG Wrightson Seed, Grain and Nutrition Overview of AgriTech Business PDF
Preview PGG Wrightson Seed, Grain and Nutrition Overview of AgriTech Business
PGG Wrightson Seed, Grain and Nutrition Overview of AgriTech Business Wednesday 7th July 2010 AgriTech Overview Seeds Grain Nutrition Forage seeds Grain trading Liquid feed supplement Turf seeds Proprietary cereal seed Feed Additive Seed coating and treatment Grain services (storage Technology Intellectual Property and drying) Animal Health Products Seed Production Research and Development New Zealand New Zealand New Zealand Australia Uruguay Argentina 20 – 25 export markets AgriTech Snapshot AgriTech Revenue (FY10) AgriTech EBITDA (FY10) 11% 10% 13% 23% 66% 77% Seed Grain Nutrition Seed Grain Nutrition Key facts: • Revenue - $391m * Based on Prospective Financial Information (PFI) • EBITDA - $42m • 426 FTEs AgriTech Snapshot AgriTech Sales Locations 250 200 m 150 $ Revenue Z N 100 EBIT 50 0 New Zealand Australia South America International AgriTech EBITDA Phasing 25% 20% 15% 10% 5% 0% Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun * Based on PFI Seeds Key features of Seeds Portfolio of Investing in proprietary products that justify higher margins proprietary products generating Broad product portfolio (including commodity) necessary to meet high margins diverse customer requirements Strong internal capability supplemented by a range of external IP and R&D capability, with research providers external Innovative contractual arrangements positions PGW to earn future relationships licensing revenue on non-PGW products from intellectual property and technology fees Key features of Seeds Established in-market distribution infrastructure Leading channel Brand diversity allows access to conflicted and well developed sales and customer relationships channels Supplying a diverse product portfolio to a network of international customers allows for inventory disposal Established global network of contract growers Diversified production Commodity seed accessed through traditional trading markets platforms Assists with the management of product supply and inventory risks Seeds - History Semillas PAS purchased to form Wrightson PAS 1999 Merger between Pyne Gould Guinness and Wrightson Nov 2005 2007 2008 2009 Oct 2005 PGG acquires Agricom Seeds - Business Profile International market leader in temperate forage seeds World’s top 12 seed companies 4.5 Key features 4.0 n 3.5 Majority of large seed companies b $ 3.0 Northern Hemisphere based S Leading seeds supplier in the Southern U 2.5 s Hemisphere e 2.0 l a 1.5 S Clear leadership in key markets: 1.0 0.5 – #1 in New Zealand 0.0 –– SStoruotnhg A inm Aeurisctar aglriaowing market share 4.5 otnasnoM tnopuD atnegnyS niargamiL LOL SWK reyaB atleD atakaS FLD grubneraB SWGP 4.0 Main competitors are: Pasture and turf seed Seed 3.5 n Northern Hemisphere b 3.0 $ S 2.5 U Turf focused s 2.0 e la 1.5 S Family or Co-op owned 1.0 0.5 0.0 otnasnoM tnopuD atnegnyS niargamiL LOL SWK reyaB atleD atakaS FLD grubneraB SWGP Northern Hemisphere Southern Hemisphere Source: ETC Group Note: 1 LOL is Land O’ Lakes Seeds Operating Structure Sales force Key business activities are delivered locally but New Zealand Production Forage co-ordinated from New Contracted growers in New Zealand Australia Forage Zealand, Australia, USA Customers and Uruguay South America Supported by drying and International coating infrastructure Australasia Turf Research and Development Corporate Seeds Production and Captures new PGW AgriServices germplasm to procurement Inputs are sold to service requirements management New Zealand specific to each Marketing, and market contracted customer relationships growers by Nine relationships in Arable Control of international five countries with Representatives exports and inventory leading research institutions Group strategy
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