The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: David Pobucky - Macquarie Research - Analyst
: Robert, Ian and Luke, congratulations on the record half year results. Just a couple from me. The first launch, you talked to strong margins for the
East Coast business due to strong supply out of the East Coast and then global challenges. Do you think those elements could continue into FY
'23? I appreciate it's still very early on, but do you see a possibility of that continuing into next year?
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MAY 11, 2022 / 12:00AM, GNC.AX - Half Year 2022 Graincorp Ltd Earnings Call
Question: David Pobucky - Macquarie Research - Analyst
: And just a couple for Ian. Operating cash was a $30 million outflow. And if you wouldn't mind just talking to the drivers of that and the ability for
unwind in the second half to recoup their cash?
Question: David Pobucky - Macquarie Research - Analyst
: And just one last one. Just in terms of Ukraine, you mentioned that you've taken a full provision there for the grain held. What was the amount of
that provision, please?
Question: Owen Birrell - RBC Capital Markets, Research Division - Analyst
: Just a couple questions from me. First one on the FY '22 guidance. You've reiterated the guidance you provided last month. I just wanted to get a
good sense of how far forward your visibility is. I think you said some contracts were out to 4 months, which would take you to the end of September.
I'm just wondering what proportion of your sort of volumes have been sold out that far? Or how much certainty do you have around that guidance
figure at this point?
Question: Owen Birrell - RBC Capital Markets, Research Division - Analyst
: I might just draw you on that comment. Just looking at your FY '23 outlook comments with respect to the planting outlook at the moment. As it
stands today, how does this compare with what we saw last year and the year before, both record years in Australia. Is the planting conditions now
better or worse than what we saw over the last couple years?
Question: Owen Birrell - RBC Capital Markets, Research Division - Analyst
: That's great. Thanks for that color. And can I just ask in terms of the GrainCorp Ventures business here, I know you said it was sort of very modest
investment. But I'm just wondering how targeted you are going to be with these investments. Are we looking at a very broad platform of very small
businesses? Or is it going to be much more targeted to just a handful?
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