HOMELAND ENERGY SOLUTIONS 2012 Year in Review Walter Wendland, CEO.
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Transcript of HOMELAND ENERGY SOLUTIONS 2012 Year in Review Walter Wendland, CEO.
HOMELAND ENERGY SOLUTIONS
2012 Year in Review
Walter Wendland, CEO
HISTORIC U.S. FUEL ETHANOL PRODUCTION
Expect 2009 biodiesel volume to be shifted to 2010
2007 Energy Bill Renewable Fuel Volumes
0
5
10
15
20
25
30
35
40
Billionsof
Gallons
Unspecified Advanced
Cellulosic Ethanol
Biomass Diesel
Conventional Biofuel
Unspecified Advanced 0.1 0.2 0.3 0.5 1.75 2 2.5 3 3.5 4 4.5 4.5 4.5 5
Cellulosic Ethanol 0.1 0.25 0.5 1 1.75 3 4.25 5.5 7 8.5 10.5 13.5 16
Biomass Diesel 0.5 0.65 0.8 1
Conventional Biofuel 9 10.5 12 12.6 13.2 13.8 14.4 15 15 15 15 15 15 15 15
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
911.1
12.9513.95 15.2 16.55
18.15
20.522.25
24
2826
30
33
36
Conventional biofuel includes ethanol from corn and sugar cane. Advanced biofuels can also be used to meet this portion of the mandate
biomass diesel in 2013 and after will be at least as much as 2012
Source: FAS*2012 estimated by RFA using Jan.-Oct. data
HOMELAND ENERGY SOLUTIONS
2012 Financial Overview
Dave Finke, CFO
HOMELAND ENERGY SOLUTIONS
12/31/1212/31/12 12/31/1112/31/11 12/31/1012/31/10 12/31/0912/31/09
Current Assets $ 17,402,396 $ 23,319,876 $ 30,920,597 $ 19,811,778
P, P & E (Net) 121,150,465 131,218,450 138,906,631 149,107,152
Other Assets 3,294,307 2,971,781 2,847,833 13,600,758
Total Assets 141,847,168 157,510,107 172,675,061 182,519,688
Current Liabilities 11,204,758 16,571,192 27,089,841 12,652,511
Long-Term Debt 1,268,793 246,488 33,101,406 62,263,911
Members’ Equity 129,373,617 140,692,427 112,483,814 107,603,266
Book Value Per Unit $1,430 $1,556 $1,230 $1,177
Income Statement SummaryIncome Statement Summary
HOMELAND ENERGY SOLUTIONS
2012 2011 2010 2009
Revenue $359,242,777 $419,312,560 $254,480,111 $161,855,910
Gross Profit 3,178,041 40,146,487 15,168,885 19,636,912
Operating Income 419,143 37,382,118 12,970,571 17,008,450
Net Income 494,765 36,353,768 11,030,809 15,640,375
Net Income/unit $5.47 $401.94 $120.63 $171.04
Distributions/unit $133.00 $79.00 $68.00 $ -
Taxable Income/unit $- $139.27 $ - $ -
Financial Ratios & FiguresFinancial Ratios & Figures
HOMELAND ENERGY SOLUTIONS
2012 2011 2010 2009Return on Assets 0.35% 23% 6% 9%
Return on Equity 0.38% 26% 10% 16%
Return on Investment 0.55% 41% 12% 17%
Gallons Sold 128.8 M 137.6 M 126.7 M 82.3 M
Income per Gallon $0.004 $0.264 $0.087 $0.189
Bushels Ground 44.1 M 48.3 M 45.2 M 30 M
Income per Bushel $0.011 $0.753 $0.244 $0.521
DDGs Sold 335,946 tons 392,245 tons 370,010 tons 235,000 tons
Corn Oil Sold (in lbs) 30.3 M 5.8 M
Economic ImpactEconomic Impact
HOMELAND ENERGY SOLUTIONS
Since April 2009Ethanol Revenues $975 Million
DDG Revenues $205 Million
Corn Oil Revenues $14 Million
Payments for Corn $897.7 Million
Wages & Benefits $11.4 Million
Misc Vendor Payments $110.4 Million
Distributions to Members $25,324,600.00
Production Update2012 Calendar Year
Kevin Howes, Plant Manager
HOMELAND ENERGY SOLUTIONS
TODAY is the 4 year anniversary since we ground our first bushel of corn! In that time……
•Produced over 510,000,000 gallons of Denatured Ethanol•Produced over 1,354,000 tons of DDGS•Produced over 44,000,000 lbs of Distillers Corn Oil•Ground over 178,000,000 bushels of corn
HOMELAND ENERGY SOLUTIONS
Freedom to Operate (EH&S)Freedom to Operate (EH&S)• 0 Recordable Injuries, 0 Lost Time Accidents 2012
•Surpassed 1000 days without a recordable injury•2012 Industry Average Incident rate = 1.7 based on HES hours worked•NEVER experienced a Lost Time accident at HES
• 0 NOVs received in 2012
• 0 Reportable Spills in 2012
• Recognition• Ranked 5th within the ERI 65+ member plant group in 2012
•Received ERI’s Award of Merit: top 25% of member plant past 2 years•Canadian Pacific Railroad Chemical Shipper Safety Award 3nd year in a row•IISC Gold Safety Award 2nd year in a row – TIR 25% of Industry Average
HOMELAND ENERGY SOLUTIONS
Thank You for your investment and the opportunity to lead one
of the best teams in the industry!!!
HOMELAND ENERGY SOLUTIONS
HOMELAND ENERGY SOLUTIONS
2012 Marketing Report
Stan Wubbena, Commodity Manager
THANK YOU
• TO EVERYONE INVOLVED IN SELLING, HAULING, GROWING THE CORN FOR OUR PLANT
• EVERYTHING WE DO AT HOMELAND STARTS WITH THE CORN
• OVER 180 MYN BUSHELS DUMPED SINCE WE BEGAN MARCH 24, 2009
• In 2012 44,204,506 bushels were received
Unit Train Destinations
• Sewaren, NJ• Charlotte, NC• Albany, NY• Linden, NJ• Lawrenceville, GA
• Providence, RI• Chesapeake, VA• Bridgeport, NJ• Denton, NC• Doraville, GA