Seeka provides retail investor presentation

Seeka Limited
Retail Investor – 14 March 2019

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Orchard-to-market excellenceSeeka is an international fresh produce business
In Australia- Grow, process and market
Kiwifruit Nashi pears European pears
In New Zealand- Grow, process and market
1
Kiwifruit
2
Avocado
Kiwiberry
- Develop, lease and manage orchards- Manufacture
Kiwi Crush, avocado oil
- Import, ripen and supply
Bananas, tropical fruit
- Wholesale
Seasonal produce
Largest grower of
kiwifruit in New Zealand
and Australia
Australia’s largest
nashi grower
1. Also process citrus and berries2. New Zealand kiwifruit mainly marked by Zespri

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An investment entry point to New Zealand kiwifruit
and avocados
- Targeted varieties - kiwifruit, avocados, nashi, pears- Geographical reach - Integrated service from orchard to retail
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Reliable cash-flow, now positioned for further grow
th
4
Capital already invested to increase supply and fru
it handling capacity
3
A premium produce company with the strategy to beco
me New Zealand’s
leading orchard-to-market business
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Seeka’s key investment attributes and strategy for growth

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2018 HighlightsFinancial year ending 31 December - audited
1. Pcp is previous corresponding period to 31 December 2017
Financial- $203.7m total revenue – up 9% on pcp¹- $7.4m profit after tax – up 27% on pcp- $0.37 earnings per share – up 16% on pcp- $26.2m EBITDA – up 13% on pcpPerforming for our growers- 31.4m trays of New Zealand kiwifruit harvested and pa
cked – up 23% on pcp
Growth- Acquired T&G Horticulture’s post harvest business and kiwif
ruit orchards for $42.1m²
- Developing Australian orchards- Investing in New Zealand post-harvest infrastructure Recapitalised- Fully-subscribed rights issue raised $47.9m

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Four operating segments capture the value chain
Orchard operations, New ZealandGrowing kiwifruit, avocado and kiwiberryPost harvest operations, New ZealandPicking, packing and coolstoring fruitRetail services, New ZealandMarketing local and imported produce in NZ, exports to Australia, manufactures functional foodsSeeka Australia Owns orchards and post harvest facilities
Orchard operations $52.8m
Post harvest operations$123.8m
Retail services$11.5m
Seeka Australia$14.9m
Revenue by operating segment FY2018¹
1. 31 December balance date

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Operating segment performance
EBIDTA
(NZDm)
Post harvest operations
26.8
22.0
32.1
Orchard operations
5.6
6.4
3.4
Retail services
1.9
2.9
1.6
Seeka Australia
1.0
2.3
(0.1)
Other
(10.6)
(10.4)
(10.8)
Total
24.8
23.1
26.2
FY16A
FY17A
FY18A
NZ KIWIFRUIT VOLUME(Millions Class 1 & 2 trays)
32.4m
25.7m
31.4m

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Post harvest operations in action

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- Seeka app
Live orchard performance reporting
- 100% Seeka bins- Post-harvest automation
Better, faster service. Lower labour costs
- AIMS Advanced Inventory Management System
Prioritises load outs, generates higher market returns
- Kiwi Crush- GEM avocados
Seeka innovationOur technology delivers a competitive edge

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0m
50m
100m150m200m250m
2013 2015 2017 2019 2021 2023 2025 2027
- New Zealand kiwifruit volumes growing
strongly
Strong global consumer demand Seeka had 20% market share in 2018Seeka benefits from higher volumes
- Export value of NZ avocados growing strongly
Nearly doubled in the last 5 years over the pcp
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Seeka had 10% market share of avocado handling and marketing in 2017/18
Seeka operates in growth industries$100m invested in the last 5 years to handle increasing vo
lumes
1. Zespri 5 Year Outlook, November 2017. Note in 2018
, Zespri completed the first of its 5-year plan to sell
750 hectares of licences per year
2. New Zealand Avocado Annual Report 2018, p22
Green kiwifruit
Gold kiwifruit
New Zealand kiwifruit exportsMillions of class 1 trays¹
Zespri forecast
Actual

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Seeka is a growth company
1987
1992
1997
2002
2007
2012
2017
$1.2m
$203.7m
2018
10 10 10 10
12 12 12
Mar 16 Sep 16 Mar 17 Sep 17 Mar 18 Sep 18 Mar 19
Increasing revenue
24 cents in the last 12 monthsDelivering value to shareholders
Cash dividendCents per share¹
Revenue
1. Fully imputed
Expansion through product portfolio, geographical reach and value chain

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Latest announcements
Updated EBITDA guidance- FY2019 to a range of between $36.5m to $37.5m, fro
m the previous guidance of between
$27.5m and $28.5m. The increase is the result of:
- Northland Orchard sales process – gain of $4.2m- Effect of accounting standard changes – gain of $5.6m- Kiwifruit volumes increasing to 32.1m trays
Seeka continues its heartland growth story- Purchase of Aongatete Coolstores Limited for $25m
Analyst Briefing Pack is available at seeka.co.nz f
or further information