Interim Results 1H FY2018 Presented by Paul Selway-Swift Magomet Malsagov Rakesh Sinha 6 March 2018 0
DISCLAIMER • This document, which is personal to the recipient and has been issued by PureCircle 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 Limited (the “Company”), comprises written materials/slides for presentations to be held (the “Order"); (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth in September 2017. This document does not constitute or form part of any offer or companies, unincorporated associations, etc") of the Order; or (iii) are persons to whom invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any it may otherwise be lawfully communicated (all such persons together being referred to shares in the Company, nor shall any part of it nor the fact of its distribution form part of as "Relevant Persons"). By attending the presentation to which this document relates or or be relied on in connection with any contract or investment decision relating thereto, by accepting this document, you will be take to have represented, warranted and nor does it constitute a recommendation regarding the securities of the Company. undertaken that you are a Relevant Person. • This document has not been verified, does not purport to contain all information that a • Certain statements, beliefs and opinions in this document, are forward-looking, which reflect the Company’s or, as appropriate, the Company’s directors’ current expectations prospective investor may require and is subject to updating, revision and amending. The information and opinions contained in this document are provided as at the date of this and projections about future events. By their nature, forward-looking statements involve presentation and are subject to change without notice. In furnishing this document, the a number of risks, uncertainties and assumptions that could cause actual results or Company does not undertake or agree to any obligation to provide the attendees with events to differ materially from those expressed or implied by the forward-looking access to any additional information or to update this document or to correct any statements. These risks, uncertainties and assumptions could adversely affect the inaccuracies in, or omissions from, this document that may become apparent. outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The • No reliance may be placed for any purposes whatsoever on the information or opinions Company does not undertake any obligation to update or revise any forward-looking contained in this document or on its completeness. No representation or warranty, statements, whether as a result of new information, future events or otherwise. You express or implied, is given by or on behalf of the Company its directors, officers or should not place undue reliance on forward-looking statements, which speak only as of employees or any other person as to the accuracy or completeness of the information or the date of this document. opinions contained in this document and no liability whatsoever is accepted by the Company or any of its members, directors, officers or employees nor any other person • By attending the presentation to which this document relates or by accepting this for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. document in any other way you agree to be bound by the foregoing provisions. • This document and its contents are confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. This presentation is for information purposes only and is directed only at, in the United Kingdom, qualified investors who are persons who (i) have professional experience in matters relating to investments falling within Article 1
OVERVIEW Presented by Magomet Malsagov , Chief Executive Officer 2
CEO OVERVIEW Financial Highlights Operational Highlights Why Stevia? • Sales H1 FY18: $53.5m, +13.3% • Significant IP – 72 patents and 200 • Structural & fundamental shift in (H1 FY17: $47.2m) patents pending worldwide the market to reduce sugar in core brands • Back to double-digit growth • Significant investment in PureCircle • No natural alternative to stevia trajectory Stevia Agronomy Program ensuring consistency of best-tasting products and • Strong recovery in US post CBP • Stevia is a force for good in the new innovative ingredients, such as world • Gross profit increased to $19.7m Starleaf TM stevia and vanilla and cocoa • Highly efficient and cost effective flavour enhancers and antioxidants • EBITDA improved +22% to $7.8m source of sweetness, and 100% • Launch of PureCircle’s Starleaf TM , a • Positive operating cash flow natural alternative to sugar with proprietary non-GMO stevia plant, which $7.7m great taste will offer superior tasting solutions to our • New $200m financing facility fully • Much smaller land, carbon and food and beverage customers operational providing greater water footprint than sugar • Strategic drive to higher value added financial stability and flexibility to • No calories, tooth friendly products progressed well fund future growth • Low glycemic index, safe for • FTSE Small Cap and All Share diabetics indexation granted (Aug ’17) • FTSE 250 entry in Dec’17
OUR GLOBAL FOOTPRINT 4
VERTICAL INTEGRATION Agronomy Farming Extraction Purification Application Consumer products Breeding Cultivating best Producing our own Purifying steviol Providing proprietary Stevia sustainability extract to ensure glycosides with an formulation Providing our varieties with practices and quality standards unmatched scale expertise to deliver customers with a higher sweet providing training are met and consistency great-tasting level of glycoside content and materials to products transparency that ensure success is superior to any with local farmers other stevia across four manufacturer continents 5
HOW WE CREATE VALUE Research & Development (R&D) We have successfully Multidisciplinary approach spanning plant breeding, agronomy, biotechnology, biochemistry, commercialised a portfolio food technology and sensory analysis that includes natural sweeteners, flavours and specialty ingredients based on high purity stevia, and have deep expertise across the value chain, from seeding to sweetener. Commercialisation • Technical Services • Scientific and Regulatory Affairs • Sales & Marketing 6
WHO WE SELL TO * Over 300 customers serviced globally 7
STEVIA ADOPTIONS: Penetration of big brands, more diverse categories Big Brand Examples Category Innovation 7UP (CSD) Sweet Granules with Coca- Cola with Stevia Skinny Cow Pepsi Stevia, Brown Sugar TCCC Nestle Saudi Arabia, UAE, with Stevia, Honey Singapore and Malaysia USA Poland, Netherlands, with Stevia, Sweet 35% Sugar Reduction 50% Sugar reduction Greece Mini Cubes with 30% Sugar Reduction Stevia (Stevia + Monk Fruit Tabletop) Whole Earth UK Lipton/Pureleaf China, Turkey, Belgium, Nestea France, South Korea, Wattie’s Heinz Tomato Nestle Poland, Czech Republic Ketchup European Union Kraft Heinz 50% Sugar Reduction Kraft Heinz 30% Sugar Reduction New Zealand Norway, Italy 50% Sugar Reduction 50% Sugar Reduction Levite Vegan ProBar Light and Fit Zero Quaker Good Start Integralmedica Danone Danone Pepsi Argentina New Product USA New Product No Sugar Added Brazil No Sugar Added Phillipines 8
THE FOLLOWING WINDS 9
LEGISLATION SSB or soft drink taxes in effect Barbados Belgium Brunei Chile Dominica Fiji Finland France Hungary Mauritius Mexico US AREAS Nauru Albany Norway Berkeley Portugal Boulder Philippines Cook County Samoa Oakland St. Helena Philadelphia Thailand San Francisco Sri Lanka Seattle, Washington Spain Turkey Proposed/raised for discussion Australia New Zealand Canada South Africa Estonia Spain India UK Warning Labels Indonesia UAE Malaysia Chile Egypt Ireland Vietnam Singapore Ecuador UK Malaysia Russia Thailand Peru Singapore Saudi Arabia India Canada Algeria * N.B. Unverified content – for guidance only. 10
FINANCIAL REVIEW Presented by Rakesh Sinha , Chief Financial Officer 11
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