SIPEF Analyst presentation August 13, 2020 The Connection to the world of Sustainable Tropical Agriculture 1
Summary SIPEF group - Company profile SIPEF group - Palm oil in the world SIPEF group - Update expansion SIPEF group - Production & prices SIPEF group – Financial performance SIPEF group - Peer review The Connection to the world of Sustainable Tropical Agriculture 2
SIPEF group – Company profile Agriculture • 1st segment of the supply chain - commodities Tropical • Recent industrialised countries Sustainable • Audited certifications Connection • Publicly quoted 3 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Company profile Continuous • Continuous crops production • Palm oil : basic commodity for food (and recently Diversified in energy) product • Rubber : cyclic business - tire industry • Indonesia : leading producing country within Asian Diversified in market origin • PNG : export oriented with strong agronomical basics 4 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Company profile Worldwide 5 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Company profile Indonesia 6
SIPEF group – Company profile Papua New Guinea 7 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Company profile Planted hectares summary 100% – 30 June 2020 2020 Indonesia PNG Ivory CoastHectares 100% % of total Group share % of total Palm 61 038 13 628 0 74 666 90% 69 151 90% Rubber 5 518 0 0 5 518 7% 4 980 7% Tea 1 786 0 0 1 786 2% 1 612 2% Bananas 0 0 794 794 1% 794 1% Other 0 0 31 31 0% 31 0% Total planted 68 343 13 628 825 82 795 100% 76 568 92% % of total 83% 16% 1% Group share 62 115 13 628 825 8 The Connection to the world of Sustainable Tropical Agriculture
Summary SIPEF group - Company profile SIPEF group - Palm oil in the world SIPEF group - Update expansion SIPEF group - Production & prices SIPEF group – Financial performance SIPEF Group - Peer review The Connection to the world of Sustainable Tropical Agriculture 9
SIPEF group – Palm oil in the world Palm oil in the world - Population growth • In the coming 40 years, mankind will have to produce more food than in the previous 10 000 years put together • Population growth will have a huge impact on future food demands • Rising middle class is causing diet changes in developing countries • Agricultural land is increasingly becoming scarcer 10 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Palm oil in the world Oil and fat consumption Oil and fat consumption per capita (in Kg) Source: Oilworld 80 72,58 70 67,32 59,43 60 55,77 54,95 +55% 49,47 50 39,05 40 35,54 29,93 27,55 30 26,07 25,86 25,52 21,46 18,29 20 15,57 15,15 14,04 10 0 EU-28 USA China India Indonesia Pakistan Nigeria Brazil World 2018 2012 11
SIPEF group – Palm oil in the world Palm oil in the world - Land input • Increased demand for meat/fat/processed foods • Increased demand for biofuel • Decreasing Agricultural land per capita • Disposable income growth in developing countries 12 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Palm oil in the world Palm oil in the world - Comparison to other oils Resources used per vegetable oil: 13 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Palm oil in the world Palm oil in the world - Vegetable oils Source: Oilworld 2019 : 234,7 million Ton 1994/95: 93,1 million tonnes Palm oil Others Palm oil 32% 16% 19% Palm kernel and coconut oil 5% Other oils/animal fats 37% Soya oil 21% Sunflower oil 9% Palm kernel and Soybean oil Rape oil Rapeseed oil coconut oil Sunflower oil 24% 11% 11% 6% 9% Palm oil Soybean oil Palm oil Soya oil Rape oil Rapeseed oil Sunflower oil Sunflower oil Palm kernel and coconut oil Other oils/animal fats 14
SIPEF group – Palm oil in the world Palm oil in the world - Palm oil production 2019 Palm oil production Source: Oilworld Total of 75,6 Mn tonnes Other countries Middle & South America 7% 4% Africa 2% Thailand 4% Indonesia Malaysia 57% 26% Indonesia Malaysia Thailand Africa Middle & South America Other countries 15
SIPEF group – Palm oil in the world Palm oil in the world - Sustainability • Palm oil remains confronted with a European perception problem based on • Health issues • No fat <-> moderate use of saturated fat • Saturated fats – only 50% saturated and no transfats • Environmental issues • Deforestation – most efficient vegetable oil/hectare of land • Sustainable Development Goals – Palm Oil covers the majority of it! 16 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Palm oil in the world Palm oil in the world - Sources for deforestation 17 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Palm oil in the world Palm oil in the world – Commodity commitment 18 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Palm oil in the world Palm oil in the world – Global land use 19
SIPEF group – Palm oil in the world Palm oil in the world – Land use of foods per 1000 kcal 20
SIPEF group – Palm oil in the world Palm oil in the world - Sustainable palm oil 3,05 Million Ha RSPO certified production area RSPO Certified Ha (in KHa) 3 500 3 000 2 500 2 000 1 500 1 000 500 0 21 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Palm oil in the world Palm oil in the world - Biodiesel use of major feedstock (Mn T) Biodiesel use of major feedstock (Mn T) 50,00 45,00 10,16 40,00 9,46 35,00 8,26 6,52 7,62 30,00 6,69 5,93 6,35 25,00 5,50 6,94 6,84 4,57 7,21 3,67 17,62 20,00 6,96 6,30 14,61 2,71 6,20 6,23 11,47 15,00 2,55 10,76 10,16 6,38 1,82 8,62 9,06 5,89 6,97 10,00 5,30 5,02 1,43 4,08 4,12 3,47 11,39 2,16 10,74 5,00 9,78 9,19 8,06 7,64 7,37 7,07 1,22 6,85 5,34 4,32 4,34 2,80 0,00 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Soya oil Palm oil Rape oil Other oils 22 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Palm oil in the world Biodiesel worldwide Source: Oilworld Biodiesel worldwide 2017 Biodiesel worldwide 2019 Total of 35,8 Mn tonnes Total of 45,7 Mn tonnes 11% 10% 4% 4% 0% 31% 39% 6% 7% 1% 1% 14% 19% 27% 25% Palm Oil Soya Oil Rapeseed Oil Sunflower Oil Palm oil Soya Rapeseed oil Sunflower oil Tallow Coconut oil Other oils and fats Used cooking oil Tallow Coconut oil Other oils & fats Used cooking oil 23
SIPEF group – Palm oil in the world Palm oil use for biodiesel EU Source: Oilworld 2019: Palm oil use for Biodiesel 2017 Palm oil use for Biodiesel Total of 11,7 Mn tonnes Total of 17,6 Mn tonnes EU 26% EU 36% 4,2 Mn tonnes 4,5 Mn tonnes 7,4 Mn tonnes 13,1 Mn tonnes Non EU 64% NON EU 74% EU Non EU EU NON EU 24
Summary SIPEF group - Company profile SIPEF group - Palm oil in the world SIPEF group - Update expansion SIPEF group - Production & prices SIPEF group – Financial performance SIPEF Group - Peer review The Connection to the world of Sustainable Tropical Agriculture 25
SIPEF group – Expansion Strategy & expansion SIPEF group = 100.000 Ha planted Focus on core-business • Palmoil – Rubber – Bananas – Tea • Indonesia – Papua New Guinea Focus on ‘Sustainable Agriculture’ (RSPO) Expansion of existing activities Acquisition of new investments Balanced leverage 26 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Expansion Increase in Ha (100%) 100.000 92 407 Ha 91 568 Ha 90.000 82 968 Ha 80 540 Ha 78 213 Ha 80.000 69 439 Ha 70.000 56 811 Ha 60.000 48 093 Ha 50.000 40.000 30.000 20.000 10.000 0 2005 2008 2016 2017 2018 2019 2023 2029 North Sum North Sum expansion Bengkulu Bengkulu expansion PNG PNG expansion Musi Rawas Dendy Marker Ivory Coast Ivory Coast expansion 27
SIPEF group – Expansion Supply base (in hectares): own ha and outgrowers ha – 100% 140.000 120.000 23.029 23.029 23.029 23.029 23.029 23.029 23.029 23.029 22.755 100.000 22.208 21.370 80.000 60.000 92.220 92.385 92.407 92.407 92.407 91.568 91.747 90.244 87.542 84.985 82.968 40.000 20.000 0 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Own ha Outside ha 28 The Connection to the world of Sustainable Tropical Agriculture
SIPEF group – Expansion 100% CPO production (including plasma and outgrowers – NO FFB) 700.000 2029 Own: 481 Kton 600.000 Outg: 92 Kton Total: 573 Kton 500.000 400.000 300.000 200.000 100.000 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Own Outgrowers 29
Musi Rawas Projects: Area Map The Connection to the world of Sustainable Tropical Agriculture
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