Sino Agro Food Inc (fka SIAF)

[RealDutch]

My (updated) guidance for 2014

Need to make some changes
1) + assuming we will get the mega farm
2) - pretty sure now we do not get a fair share of the profits generated from project companies. We do get 100% of resale though.
3) - PF1 and PF2 will not be acquired any time soon
4) - O/S 140M shares instead of 130M

Sub Revenue / Gross Profit / Net profit (accounts for non-controlling interest)

 
 SJAP         200  65  20 
 HSA           14   6   4 
 HU+IV         30  17  12 
 PF1           12   2   2 
 PF2           15   3   3 
 FF1+open dam  60  18  13 
 Consultancy  200  55  50 
 Trading       35   5   5 
 MEIJI sales   10   3   2 
 Other         86  26  21 (1)

(1) +15% = Wholesale, Retail, consultancy corporate, FF2 etc

Total revenues 662
Gross profit 200 (30%)
Net profit 132 (20%)

EPS (140M shares) = 0.94

Expectation for 2013
Total revenue 260
EPS = 0.60

Revenue growth 2014 = +155%
EPS growth 2014 = +57%