Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

General Information

Nufarm Limited
NUF
http://www.nufarm.com
Fertilizers & Agricultural Chemicals
2,012
265

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$7.56 $7.63 $7.65 $7.50 $7.59 678148 $0.03 ( 0.40% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Sell
27/07/2015
2

Company Overview

Business Description
Nufarm Limited (NUF) is a global crop protection company which develops, manufactures and sells a range of crop protection products. NUF sells its products in most of the world’s major agricultural regions. NUF operates two business lines being crop protection and seed technologies.
Strategy Analysis
Focus is on patent-expired product, using superior formulation and marketing nous to innovate and differentiate product. NUF is increasing sales of non-glyphosate crop protection products and seed technology where margins are higher. While still small, the seeds business is expected to experience solid growth with acquisitions a possibility. In 2007 NUF made a small investment in glyphosate-manufacturing capacity in China to secure supply in an increasingly tight market. Over-supply has since developed. In 2010 Sumitomo acquired 20% of NUF, subsequently increased to 23%. The two companies will complement one another´s product portfolios and distribution reach. Nufarm reported NPAT down 53.5% to $8.39m for the half-year ended 31 January 2013. The impact of foreign exchange losses on financing activities (loss of $9.2m compared to a gain of $14.4m in previous period) was the major contributing factor to the lower statutory and underlying net profit outcomes. Revenues from ordinary activities were $934.41m, up 8.3% from the same period last year. Diluted EPS was 0.4 cents compared to 4.4 cents last year. The net operating cash outflow was $148.23m compared to an outflow of $71.06m in the pcp. The interim dividend declared was 3.0 cents in line with 3.0 cents last year.

Financial Summary

Year to Jul NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 127.9 48.3 17.9% 16.0 14.5 1.9% 50.0%
2015 F 108.5 40.9 25.5% 18.9 12.3 1.6% 37.5%
2014 A 86.4 32.6 3.3% 13.6 8.0 1.8% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Nufarm (NUF) $2,046M 0.0705 0.3905 0.1121 27.4831 19.7645 17.7716 1.04% 1.45% 1.66%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.72 19.50 1.48 0.80
Market 0.89 16.20 1.33 1.30
Sector 0.67 11.30 0.67 0.29

Directors

Name Position Start Date
Mr Gregory Allan Hunt Chief Operating Officer, Chief Executive Officer, Managing Director 05/05/2015
Mr Donald Gordon McGauchie Non-Executive Chairman 19/12/2003
Dr William Bruce Goodfellow Non-Executive Director 15/02/1991
Mr Peter Maxwell Margin Non-Executive Director 03/10/2011
Ms Anne Bernadette Brennan Non-Executive Director 10/02/2011
Mr Gordon Richard Davis Non-Executive Director 31/05/2011
Mr Francis (Frank) Anthony Ford Non-Executive Director 10/10/2012
Mr Toshikazu Takasaki Non-Executive Director 06/12/2012

Management

Name Position
Paul Binfield Chief financial officer
Rodney Heath Company Secretary,Group General Manager Corporate Services
Greg Hunt Group executive commercial operations
Robert Reis Group executive corporate strategy and external affairs
Mike Pointon Group executive innovation and development
Elbert Prado Group executive manufacturing and supply chain
Brian Benson Group executive marketing and portfolio development
Bonita Croft Group executive people and performance
Dale Mellody Group executive procurement and commercial sevices

Substantial Shareholders

Holding Name
60,210,136 (23%) Nufarm Limited
60,210,136 (23%) Sumitomo Chemical Company Limited
14,711,590 (5.62%) PG Keeling & EW Preston
14,692,730 (5.61%) Glade Buildings Ltd
14,679,639 (5.61%) Hauraki Trading Co. Ltd
14,349,658 (5.48%) The Khyber Pass Investment Co Limited
14,330,798 (5.47%) Amalgamated Dairies Ltd
13,725,325 (5.03%) FMR LLC and the entities
13,187,894 (5%) Dimensional Entities

Calendar of Events

Date Event
23 March 2016 Report (Interim)
27 October 2015 Report (Annual)
22 September 2015 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.