BayWa Group, Capital Market Day 2013 Rotterdam, 16 October BayWa Group, Capital Market Day 2013

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Noah Eaton
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1 BayWa Group, Capital Market Day 2013 BayWa Group, Capital Market Day 2013 Rotterdam, Rotterdam, Daan Vriens, CEO Cefetra Daan Vriens, CEO Cefetra

2 Company overview Cooperative roots Cebeco Feed Trading (Cefetra) was founded as a spin off Acquisition of Cebeco Veevoeders Acquisition of McCorkell Glasgow Foundation of Cefetra Hungary Joint venture of Baltic Grain Terminal Acquisition of 2 inland silos in Poland Acquisition of 1 inland silo in North Poland s s Foundation of Cebeco Handelsraad Strong growth in Germany and the Benelux Dutch regional cooperatives 100% stake in Cefetra BV International growth in North West and Central Europe Foundation of Cefetra Polska Spzoo. 3 shareholders acquire Cefetra shares of 6 others Expansion in Hamburg and Baltic sea ship program Founded as spin off from Cebeco Handelsraad in % owned by Dutch cooperatives Expanded further on an international buy-and-build strategy with global sourcing Grown into a regionally focused supply chain manager handling close to 20 million metric tons of proteins, grains, oilseeds and non grain feeds ingredients to mainly feed customers Cooperative roots alive in culture of Cefetra: an independent, down to earth, longer term and customer focused supply chain manager Daan Vriens, CEO PageCefetra, 2 Capital Ma

3 Company overview Management Flat organisation with limited number of management layers and experienced management in the agri-commodity world Executive Board D. Vriens CEO R. Van der Zee - COO R.M. van Gelderen CFO BV Subsidiaries Cefetra BV FTE Resp. Trading & freigght 25 D. Vriens Market analysis & risk man. 3 CFS K. Vellinga MD H. Osinga Contr. Cefetra UK A. Mackay - MD G. Sinclair - FD Baltic Logistic Logistics Quality and sustainability Forwarding 24 Forex trade 1 ICT 5 HRM & secretarial support 2 Finance & Control R van der Zee R.M. van Gelderen Cefetra Hungary J. Fabian MD M. Kun Contr. Cefetra Poland T. Pasalski MD P. Kubok - FD Canada branch Soya & Freight Swinkels Trading Manager Co-Products JL Maertens Trading Manager Grains J McPike Trading Manager Quality and Sust. K Velinga Market Analysis H de Wilde Logistics R Noorlander Finance BV R Post Groups Controller Daan Vriens, CEO PageCefetra, 3 Capital Ma

4 Business overview Procurement and Distribution Global procurement Multi origin Origination Multi country origination More than 1,500 different suppliers Grain (38%) Soya (36%) No dependence on local infrastructure due to centralised procurement Rape Citrus purée > 26% Oil cake Tapioca Long-term framework agreements with a number of Key suppliers (ca 20% of annual offering) Sales volume and target countries Multi regional and product with strong focus on feedstuff industry Sales by target country in 19.0 million tons Trade 11% Baltic States 4% Netherlands 38% Sales by product group 19 million tons Non Grain ingredient 9% Grain 38% Cake/ seeds 17% Poland 6% UK/Ireland 16% More than 700 customers in North West and Central Europe The former owners constitute 15% of the sales volume Belgium 10% Germany 15% Multi-multi distribution Regional, products and segments Soya 36% Page 4

5 Business overview Logistics Multifunctional storage capacity and logistics Long-term, secure access to 3 deep sea ports and close to 23 silo s and ports in Europe Specialised freight and Logistical team Scale advantages in shipping Logistics network through regional Procurement of raw materials and prompt delivery to customers Access to future growth markets like Hungary and Romania but no structural asset exposure till date Ca nad Page 5

6 Strategy Unique Selling Propositions Cefetra is unique in the combination of being consumer and supplier focused, and being cost leader while being independent 1. Consumer and supplier focus Flexible Trustworthy Broad product portfolio Providing liquidity Transparent Logistical expertise: just in time delivery Knowledge/market intelligence Innovative Service oriented Asset light - 2. Independent Countervailing power Objective The alternative Flexible 3. Cost leader Overhead cost per mt Multi Multi Scale Basic requirements: Strong risk management & market analysis - Strong financial position Page 6

7 Cefetra Key Focus areas Strategy Qualitative growth strategy with strong focus on backward Integration Backward Integration: Aggressive growth of own origination grains and oilseeds in mainly CEE and potential UK Qualitative growth : Grow distribution volume to 21 million m Diversification: Regional: Germany, CEE, UK, France and potential Asia opened offices in Vienna and Singapore) Product : Grow grains and Co-products Segment : grow non feed volume Regional Diversification Trade Non-Feed Other France Poland/Hungary Germany UK/Ireland Netherlands Page 7

8 TRIAD REGIONAL: Creating ca 10 bn European agricultural group BayWa Ports Cefetra Ports Bohnhorst Ports Cefetra Netherlands 210 employees Agricultural trading worldwide Bohnhorst Lower Saxony 213 employees Agricultural trading in Europe BayWa agri trading Munich 3,700 employees Agricultural trading in Europe Agrar Revenues ca 4.5 billion + Together Revenues ca 5.0 billion + Baltic Baltic Revenues ca 0.5 billion = Total Revenues ca 10 billion The port locations of BayWa + Cefetra + Bohnhorst complement each other ideally Securing of the logistics chain of CEE to Western Europe Page 8

9 TRIAD - VALUE CHAIN Jointly strengthen control over the value chain Processing Distribution Local collection Domestic trade International trade Storage & distribution Forming the leading European agricultural business Page 9

10 Cefetra Member of BayWa Group

11 Thank you for your attention!

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