The CEO said multi-year agreements have been signed with suppliers as part of RIC's move towards greater amounts of premium products.
He also said that human and pet consumption of protein was rising, an important point. (He didn't mention that as some 'developing nations' see median incomes rising, more people switch to meat).
Chook feed, horse feed and dog food are some of RIC's biggest segments. The CFO said there was a two to three month typical lad in passing increased costs through to outlets to which it sells. By 4Q 22, in these packaged products, the costs were being recovered.
The Clifton mill (near Toowoomba, Queensland) will have about a 35 per cent increase in capacity. Two major customers have their own mills but they're expanding, so RIC is picking up extra business as the two clients' facilities can't meet demand.
With NovaqPro, EBITDA was just under A$1 million in FY 23 compared to a small loss in FY 22. Mr Hildebrand said if RIC was improving its position by A$1 to A$1.5 million per year - I assume this was a reference to NovaqPro - he'd be happy.
The tallow price impact is expected to be negative A$3 million in FY 24, assuming tallow prices don't change. The CEO did say it was hard to make a prediction.
For tallow, key demand areas are Singapore (renewable diesel facility - RIC has supplied) but growth is coming from facilities under construction in the USA. RIC is agnostic as to where it ships tallow.
- Forums
- ASX - By Stock
- RIC
- Ann: FY23 Full Year Results Investor Presentation
Ann: FY23 Full Year Results Investor Presentation, page-5
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RIC (ASX) to my watchlist
|
|||||
Last
$2.25 |
Change
-0.050(2.17%) |
Mkt cap ! $710.6M |
Open | High | Low | Value | Volume |
$2.28 | $2.29 | $2.23 | $822.7K | 365.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 19417 | $2.24 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.29 | 631 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 16925 | 2.240 |
3 | 6865 | 2.220 |
4 | 2392 | 2.210 |
3 | 2327 | 2.200 |
1 | 437 | 2.190 |
Price($) | Vol. | No. |
---|---|---|
2.290 | 631 | 2 |
2.300 | 422 | 2 |
2.310 | 421 | 1 |
2.320 | 5420 | 3 |
2.330 | 421 | 1 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
Featured News
RIC (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online