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Select Harvests Limited (“ASX:SHV”) Select Harvests Limited (“ASX:SHV”) Overseas Investor Presentation Michael Iwaniw – Chairman Paul Thompson - Managing Director June 2016 Disclaimer & Basis of Preparation This presentation is provided for information purposes only and has been prepared using information provided by the company. The information contained in this presentation is not intended to be relied upon as advice to investors and does not take into account the investment objectives, financial situation or needs of any particular investor. Investors should consider their own individual investment and financial circumstances in relation to any investment decision. Certain statements contained in this presentation may constitute forward-looking statements or statements about future matters that are based upon information known and assumptions made as of the date of this presentation. These statements are subject to risks and uncertainties. Actual results may differ materially from any future results or performance expressed, predicted or implied by the statements contained in this presentation. 2 Business Overview – Growing Together Almond Division . 14,303 acres of Australian almond orchards – Victoria, South Australia & New South Wales . 80% in cash generative mature phase – very low capex required . Improve orchard productivity through high performance farming program – top quartile yields & quality in next 2 years . 2016 Greenfield plantings – 2,500 acres – majority to account of First State Super . Continue to seek acquisition of mature orchards at the right price and land suitable for planting to almonds . Improve supply chain productivity & keep costs in bottom quartile - Project Parboil & Project H2E Food Division . Number of Brands across categories – cooking/baking, snacking, breakfast, health . Grow branded base for industrial and packaged divisions . Export focus . New Products & Categories Corporate . Leverage core capabilities of business in current & adjacent categories . Maintain gearing at acceptable level Growth and cash-flow are both important 3 Macro Trends Driving Strategy Demand Drivers Supply Drivers . Health . Land Availability . Weight Loss . Infrastructure . Heart Disease . Capital . Lactose Intolerance . Environment . Gluten Free . Climate . Coeliacs . Water availability . Diabetes . Sustainability . Wealth . Capability . Asian Middle class . Knowledge . Millennium population pool . Execution skills . Affordability . Market access Customer & Consumer insights drive our strategy 4 Strategy - Planning for excellence and growth 1. CONTROL CRITICAL MASS Secure the critical mass of nuts needed to maximize OF ALMONDS profitability and leverage the global almond opportunity. 2. IMPROVE YIELD & CROP Improve yield and overall crop value by perfecting on-farm VALUE and farm to factory practices. 3. BE BEST IN CLASS SUPPLY Continuously improve our supply chain, achieving high CHAIN quality, low cost and optimum capital utilisation. 4. INVEST IN INDUSTRIAL & Allocate resources to leverage our trading skills and grow TRADING DIVISION sales in the industrial channel. 5. STRENGTHEN PACKAGED Commit funds and develop structure to generate domestic FOOD BUSINESS and export growth for the packaged food business delivering sustainable returns above the cost of capital. 6. FIX OUR SYSTEMS & Develop the business systems and processes required to be PROCESSES a global industry leader. Acquire businesses in related categories leveraging existing 7. NON ORGANIC GROWTH capabilities that are EPS accretive and deliver sustainable returns above our cost of capital. Engage with investors and our industry while developing the 8. ENGAGE WITH OUR PEOPLE team required to be a global industry leader. & OUR STAKEHOLDERS We have a clear strategy – execution has delivered growth and productivity 5 Food Division • Market leading consumer and industrial brands plus outstanding customer service 6 Consumer Brands & Markets • Major supermarkets • Independent supermarkets • Route trade Cooking & Snacking Health • Health food stores • Food manufacturers & wholesalers • Confectionery manufacturers Health Breakfast • Distributors • Export Retail Markets • Export food manufacturers • Export wholesalers & other distributors Providence Industrial 7 Retail Categories • Dried Fruit & Nut • Snack Food • Muesli • Health Food • Fresh Produce (loose, bulk) & Pre Pack • Private Label 8 Industrial Categories & Customers • Whole, Blanched, Sliced, Slivered, Meal • Pastes • Roast Diced • Natural Meal • Blends 9 Almond Division • Across three distinct geographic regions with the majority in the economic “sweet spot” 10 Almond Orchards – Our productive foundation Geographic diversity Secure access to diverse limits exposure to: water sources: − Weather − River Water − Disease spread − Aquifers − Insect infestation Positions the company to maximise harvest volume & reduce variance. Enables sequential progression of harvest period across regions: − Better farm equipment Building world class utilisation properties and a globally − Better processing competitive low cost utilisation business. − Better labour utilisation Australia’s 2nd largest & most geographically diverse almond producer – 14,303 planted acres Growth - Additional 2,500 acres to be planted in July 2016 – Funded by 3rd party 11 Select Harvests – Orchard Age Profile Significant growth & improvement occurred in SHV orchard portfolio in recent years - acquisition, replants, greenfields 12 Significant Organic Volume Growth +39 +46% +22% +3% 80% of current planted acres are cash generative By 2024, almond volumes will increase by 46% 2018: +3%, 2020: +22%, 2022: +39%, 2024: +46% (Pink & Blue Sections only – basis capital already sunk) 13 Select Harvests – Horticultural costs 14 Almonds competitively priced against other tree nuts Tree Nut Spot Pricing March 2010 vs March 2015 vs March 2016 (USD/lb) Averaged March 2016 Averaged March 2015 Averaged March 2010 $2.50 Almond $4.55 $2.42 $3.65 Hazelnut $6.80 $2.80 $4.75 Roasted & Salted $5.35 Pistachio $3.95 $3.80 Brazil Nut $3.60 $2.40 $3.60 Cashew $3.35 $3.37 $2.55 Walnut $4.65 $3.61 $- $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 Almond pricing relativity has been restored to historic norms 15 Almond Pricing over a 10 year crop period (AUD) Almond Price Nonpareil SUP 23/25 (AUD/kg) (AUD/kg) - LHS Historical Rolling Average AUD/kg - LHS 5 Year Rolling Average AUD/kg - LHS Rollng Average USD vs AUD - RHS Linear ((AUD/kg) - LHS) $14.00 $1.00 $0.90 $12.00 $0.80 $10.00 $0.70 $0.60 $8.00 $0.50 $6.00 $0.40 $4.00 $0.30 $0.20 $2.00 $0.10 $- $0.00 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 (AUD/kg) - LHS $7.95 $5.63 $6.30 $6.46 $4.69 $5.45 $7.45 $10.02 $12.42 $7.20 Historical Rolling Average AUD/kg - LHS $7.95 $6.79 $6.63 $6.59 $6.21 $6.08 $6.28 $6.74 $7.37 $7.36 5 Year Rolling Average AUD/kg - LHS $6.21 $5.71 $6.07 $6.81 $8.01 $8.51 Rollng Average USD vs AUD - RHS $0.7880 $0.8546 $0.7982 $0.8287 $0.8749 $0.9008 $0.9192 $0.9162 $0.9004 $0.8854 * This is internal company data. Please note this is a reflection of one nut variety & size, not the total pool return The combination of currency and price has caused the sharpest price correction in recent history 16 Processing • SHV processes over 15,000mt of quality almonds and 12,000mt of high quality nuts and healthy products 17 Almond Processing • The site occupies 100 hectares of land • 48,000 MT hull storage area • Commissioned in 2008 at a cost of $40 million • ALMADS customised stock control & traceability system • Hulling and Shelling capacity is 30,000MT • Almond Pasteuriser (5 log - Steam) • 36 hectares of stock pad capacity • Approx. 120 employees during peak season • Climate controlled warehouse • Almond Pre-Cleaner & Crop Dryer • Laboratory, Administration/Amenities complex 18 Food Division Processing . This site has 11 processing lines which include: . Packaging formats include: • Electronic sorters • Pillow packs • Dry roasters o Size range from 25g – 1kg • Oil roaster o Edge seals & Block bottoms • Almond blanching, slicing and grinding lines • Doye Bags • Dicer o Size range from 150g – 1kg • Blending o Re-sealable Doye bags • Conching (pastes) • Bulk cartons • Doye and vertical form filling machines o 10 – 25kg • These lines service the retail, wholesale and industrial markets and produce approximately 350 sku’s. 19 Operations - Project H2E – Hull to Energy Project Overview: Biomass boiler and steam turbine, fuelled by almond hull and shell converting it to heat and power. Abating 24000 tonnes* of greenhouse gas. • Internal estimate Reduces energy cost by 20%, enhancing Carina West’s position as a global low cost processor 20 Increasing Value-added & Export Businesses Industrial Products Healthy grains, pulses & Nuts Export Focus Value-added snacks & breakfast Moving from grower commodity bagger to value-adding 21 Project Parboil – Almond Value-Add Current Future Blending Frying Sorting Blanching Blending Frying Sorting TT TT Roasting Conching Packing Grinding Roasting Conching Packing Bulk Slicing Packing Packing New Blanching Grinding Slicing with Roasting CW Sorting Retail Sorting CW Processing & & Processing & Packing Bulk Packing Packing Mixed nut, fruit and seed varieties Almonds Only 22 Project Parboil – Almond Value-Add Projective Objective: To install an Added Value Almond Processing & Packing Facility at Carina West Infrastructure designed using and complying to: WQA Manufactured Food Standard Version8 & Coles Food Manufacturing Supplier Requirements (CFMSR) ver Feb 2014 Specifications Operational
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  • Platformed For
    ANNUAL REPORT 2020 YEAR ENDED 30 SEPTEMBER 2020 PLATFORMED FOR OUR ORCHARDS BLOSSOM LATE JULY TO EARLY SEPTEMBER 2 Select Harvests Annual Report 2020 GEOGRAPHIC DIVERSITY The strategy to have geographic diversity between our orchards limits our exposure to the weather, the spread of disease and insect infestation. Geographic diversity also enhances the availability of labour. NORTHERN SOUTHERN HILLSTON REGION LAKE REGION CULLULLERAINE Sydney PARINGA WAIKERIE GRIFFITH EUSTON LOXTON Adelaide ROBINVALE CENTRAL REGION THOMASTOWN Melbourne PROCESSING CENTRES SELECT HARVESTS ORCHARDS AUSTRALIA PIANGIL ALMOND ORCHARD Sale and Implementation Deed entered in October 2020 1,566 hectares planted almond trees (NOT INCLUDED IN ACREAGE FIGURES BELOW) 7,696HA 2,670HA 3,078HA 1,948HA (19,016 ACRES) (6,597 ACRES) (7,605 ACRES) (4,814 ACRES) TOTAL SOUTHERN REGION CENTRAL REGION NORTHERN REGION PLANTED AREA PLANTED AREA PLANTED AREA PLANTED AREA Select Harvests Annual Report 2020 3 Select Harvests Annual Report November 2019 3 Select Harvests is one of Australia’s Company largest almond growers and a leading Selectmanufacturer, Harvests processor is one of Australia’s and marketer of Company largestnut products, almond health growers snacks and anda leading muesli. We Profile manufacturer,supply the Australian processor retail and andmarketer industrial Profile ofmarkets nut products, plus export health almonds snacks globally. and muesli.We are WeAustralia’s supply thesecond Australian largest retail almond andproducer industrial and marketer markets withplus coreexport capabilities almondsacross: Horticulture, globally. Orchard Management, WeNut are Processing, Australia’s Salessecond and largest Marketing. almond These producercapabilities and enable marketer us to with add corevalue capabilities throughout across:the value Horticulture, chain.
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  • Acquisition of Piangil Almond Orchard and Capital Raising
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  • Select Harvests Limited (ASX:SHV) Asia Investor Briefing January 2014
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  • Acquisition of Piangil Almond Orchard and Capital Raising
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  • Select Harvests Annual Report
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  • He Thy Gr Owth Strateg Roots
    wth gro ANNUAL REPORT 2015 SELECT HARVESTS hy lt ea H ANNUAL REPORT 2015 S t ra te gic roots People Engagement Almond Critical Mass Best Systems and in Class Process Improve Value Sustainable Food Model Investment in Divisions Select Harvests Limited ABN 87 000 721 380 Company Profile Select Harvests is one of Australia’s These orchards, plus other independent Our Brands largest almond producers and orchards, supply our state-of-the-art primary The Select Harvests Food Division provides marketers with core capabilities across: processing facility at Carina West near a capability and route to market domestically Horticulture, Orchard Management, Robinvale, Victoria and our value added and around the world for processed almonds Processing, Sales and Marketing. processing facility at Thomastown in the and other natural products. It supplies both These capabilities enable us to benefit Northern Suburbs of Melbourne. Our branded and private label products to the throughout the value chain. primary processing facility has the capacity key retailers, distributors and industrial users. to process 22,000 metric tonnes of almonds We are one of Australia’s largest almond Our market leading brands are: Lucky, in the peak season and is capable of meeting growers and the country’s leading Nu-Vit, Sunsol, Allinga Farms and Soland in the ever increasing demand for both in-shell manufacturer, processor and marketer retail markets and Renshaw and Allinga Farms and kernel product. Our processing plant in of nut products, health snacks and muesli. in wholesale and industrial markets. In addition Thomastown processes over 10,000 metric We supply the Australian retail and industrial to almonds, we market a broad range of snacking tonnes of product per annum.
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  • Acquisition of Piangil Almond Orchard and Capital Raising
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  • 25 Nov 2020 SELECT HARVESTS
    25 Nov 2020 SELECT HARVESTS – CONFERENCE PRESENTATION Please find attached a copy of a presentation that is to be given at the Westpac & AgFood Opportunities Fund Australasian AgFood Conference today, Wednesday 25 November 2020. This announcement was authorised to be given to the ASX by Managing Director, Paul Thompson. FOR FURTHER INFORMATION, PLEASE CONTACT: Paul Thompson, Managing Director & CEO 03 9474 3544 Brad Crump, Chief Financial Officer & Company Secretary 03 9474 3544 Andrew Angus, Investor Relations 0402 823 757 About Select Harvests: Select Harvests Ltd (ASX:SHV) is an ASX-listed, fully integrated almond business consisting of orchards (company owned, leased, joint venture and managed), primary processing (hulling & shelling), secondary processing (blanching, roasting, slicing, dicing, meal), trading (industrial products) and Consumer products (Brands - Lucky, Sunsol, Soland, NuVitality, Renshaw & Allinga Farms, as well as providing Retailer brands). Select Harvests imports a full range of nuts (in addition to its almonds) and a wide range of other ingredients for inclusion in their Consumer Products range. Australia is a significant global almond producer and Select Harvests are one of Australia’s largest almond companies, supplying almonds domestically and internationally, to supermarkets, health food stores, other food manufacturers, retailers and the almond trade. The company is headquartered at Thomastown on the outskirts of Melbourne, Australia while its orchards are in North West Victoria, Southern New South Wales
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  • Select Harvests Will Contribute
    3ELECTß(ARVESTSß,IMITED3 !".ßßßß!".ß ß3ETTLEMENTß2OAD 4HOMASTOWNß6ICß 0/ß"OXß0/ 4HOMASTOWNß6ICß4H4 4E4ELEPHONEß ßß &A&ACSIMILEßß ßß %M%MAILßINFO SELECTHARVESTSCOMAU .4 1,$ 7! "RISBANE 3! .37 2OBINVALE !#4 6)# 4HOMASTOWN -ELBOURNE WWWSELECTHARVESTSCOMAU Select Harvests Limited Company Secretary ABN 87 000 721 380 P Chambers Registered Office Select Harvests Limited Solicitors 360 Settlement Road Gadens Lawyers Thomastown Vic 3074 Bankers Postal address Australia and New Zealand Banking PO Box 5 Group Limited Contents Thomastown Vic 3074 Auditors Telephone (03) 9474 3544 PricewaterhouseCoopers Facsimile (03) 9474 3588 Email [email protected] Share Register Our mission, strategy, activities and outlook 01 Directors Computershare Investor Services Pty Limited Our business opportunities 02 M A Fremder (Chairman) pg05 Yarra Falls Our business model 03 J Bird (Managing Director) 452 Johnston Street From the Chairman and Managing Director 04 C G Clark (Non‑Executive Director) Abbotsford VIC 3067 Our board of directors 07 G F Dan O’Brien (Non‑Executive Telephone (03) 9415 5040 Director) Facsimile (03) 9473 2562 Our executive team 08 From the Chairman and J C Leonard (Non‑Executive Director) Managing Director Our orchard development 09 R M Herron (Non‑Executive Director) Our orchard management 11 pg09 Our processing 12 Our primary processing 12 Our added-value processing 13 Our sales and marketing 14 Almond pool sales 14 Our orchard development Added-value product sales 16 Our environment, community and people 17 pg11 Statistical summary
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  • Australia: Select Harvests to Make Landmark Acquisitions
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