Slide 1: Ansell Limited Half Year Results December 2005
— — imited December 2005 Ansell L ” = S a o Oo Som © o > = © so 31st Rustom Jilla — Chief Financial O1 Doug Tough — Chief Executi
Slide 2: —
—
Slide 3: Half Year Performance
Half Year Performance F'05H1 F0GH1 $M $395.0 $4015 SEES fl 41.6% EBIT — Pre SPT ft 41.0% Profit Attributable $39.6 $42.4 Pre SPI ft +7.1% * SPI write-down and sale costs in F 06 H1 was * F'05 results adjusted for IFRS changes * US dollars used in all slides unless otherwis EPS — Pre SPT —-US26.5¢ +1
Slide 4: Ansell H1 Negatives and Positives
Ansell Hi Negatives and Positives Negatives: * Margin pressure from latex & petroleum based product ¢c increases. Pricing competition on exams. Continued fierce US retail condom market competitiveness. FX - Stronger USD Positives: « Europe — Emerging markets gains. * China Expansion - Condom acquisi
Slide 5: Occupational Business
Ansell $M Sales HyFlex® Knitted Disposables All Other Total Sales EBIT —- Segment EBIT/Sales Strategy: Occupational Business 49% of Revenue and 53% of Segment EBIT F’06 42.7 22.8 37.7 95.5 198.7 28.5 14.3% Volumes up 21% on new P Value added focus Higher vinyl mix, with lower A’ CR reduced pre new p
Slide 6: Professional Business
Professional Business 35% of Revenue and 29% of Segment EBIT $M F005 F'06 Surgeons: Branded PF 34.0 34.2 EMEA& AP volumes | Powdered 32.9 29.9 Conversion. Indian su Synthetic 74 78 AMvolumes up 16%. Other 1.5 2.1. EMEA PF private label Powder Free 33.3 36.8 Units +17%: ASP’s -6% (inclt Powdered 6.1
Slide 7: Ansell Consumer Business
Ansell Consumer Business set 16% of Revenue and 18% of Segment EBIT $M Sales Condoms. Branded Retail USA challengine ; Bid/Public Sector .4 Private Label recover HHG & Other Total Sales EBIT — Segment EBIT/Sales Ss Strategy: ® Differentiation through product / marketing inn * Asset utilization throu
Slide 8: Ansell Strategic Evolution
Ansell Strategic Evolution AN. * From meeting multi-year Segment EBIT commitments to. advancing Ansell Growth Strategy for F 06 and Beyond Methodology:
Slide 9: Geographic Focus
Geographic Focus * Ansell’s investment in Europe's Emerging Markets (g relationships and a strong distributor network) is payl strong year on year growth..... Occupational +59% Russia & CIS Professional 442% Eastern European Consumer +51% Other Total +51% Total » Ansell has commenced moving beyond ¢
Slide 10: China expansion
~10% market cee Jissbon will be run by its talented and energetic manage! team and will also market Ansell brands in China Occupational Synthetic Gloves: * New trading entity (WFOE) being established » Local sales presence increased « Local warehousing and distribution establ * Focus on Coastal Corr
Slide 11: Chief Financial Officer: Financial Results
— oe — a. — 4 — _ ial Offi iInanc & > = (2) _ ” oe ~ ief F Financial Rest Ch
Slide 12: Total Shareholder Return
ror P05 TSR 34% ISR 32% $10.04 i July 03 31 Dec 03 30 June 04 31 Dec 04 Dividends Al3¢ Total Shareholder Return (TSR) = Share Price appreciation plus dividends: 2 Ce
Slide 13: Impact of AIFRS on F'05 H1
Impact of AIFRS on F’05 H1 Operating Attributable EBIT ($M) Profit ($M) F’'05 H1 as Reported 43.3 317 AIFRS adjustments Goodwill amortisation 7.6 76 Defined Benefit Pension Plans 0.7 07 Options (0.4) ) 719 79 F'05 H1 as Adjusted for AIFRS 51.2 39.6 Free Cash Flow: There was no impact on reported FCF
Slide 14: Ansell F'06 H1 Balance Sheet
Ansell F’06 H1 Balance Sheet $M 31Dec04 30June05 Fixed Assets 155.1 149.0 Goodwill & Intangibles 204.1 204.7 Other Assets/Liabilities (42.4) (30.7) Investmentin SPT 157.8 95.0 Working Capital 189.6 168.8 Net Operating Assets 664.2 586.8 Net Interest Bearing Debt 161.3 111.9. Shareholders’ Funds 502.
Slide 15: Ansell F'06 H1 Profit & Loss
Ansell. F’06 Hi Profit & Loss $M F05 F'06 Change Sales 395.0 401.5 42% Operating EBIT 51.2 51.7 41% SPT Write down and Sale Costs - 41 EBIT §1.2 47.6 Interest & Borrowings 2.9 2.4 Tax 8.2 Minorities 0.5 Profit Attributable: Pre SPT 39.6 Post SPT 39.6 Gross Margin : Sales 41.2% Operating EBIT : Sales
Slide 16: Raw material price pressures
B x“ = a a a a 2 g a, 3 ? 3 ® a Malaysian Rubber Board What has happened - Strong demand (China), high oi! transport, higher synthetic latex prices) and lower y' What is expected - Gontinued strong demand and What are we doing - Raising selling prices (effec alternative materials & technology, exami
Slide 17: Ansell Portfolio Performance Changed from Last Year
Ansell Portfolio Performance Changed from Last Year FY'06 SALES YID = fo FY’06 SEGMENT EBIT YTD > Occupational Professional Consumer Occupational Profession. Asia Pacific EMEA Americas > 42% Wi From -2% to +2% Ml In F'05 H1; EMEA EBIT declined 15% while AM gre\
Slide 18: Free Cash Flow
F05 EBIT (Excl. SPT) 51.2 Depreciation 93 Working Capital (21.5) Tax Paid (3.5) Capital Expenditure (5.3) Interest Paid (Net) (6.1) Free Cash Flow (FCF) 24.1 Share Buy Back Program (120.8) Dividends : Other (Increase) / Reduction in Net Debt “Includes shares bought back to satisfy long term F’'05 sh
Slide 19: Ansell is Well Positioned
Ansell is Well Positioned ... Business/regional portfolio reduces operational risk Cash position is a clear advantage ~ Gearing at the end of H1 is below 17% and FCF is stron — Settlement proceeds (A$122M) of sale of SPT received o January, 2006. : Total Shareholder Return remains key focus -— On Ma
Slide 20: Pieces
Pieces vee a 7 ya) 2
Slide 21: Ansell Going Forward
Ansell Ansell Going Forward * Retain growth focus — Organic — Geographic — Acquisitions (bolt-on and transformational) ¢ Enhanced cost vigilance — Infrastructure — Manufacturing, Sourcing and Logis * Solid H2 business plans in place to
Slide 22: F'06 Guidance
F’06 Guidance H2 operational outlook is positive — Sales will benefit from new products (15 launched in H1), Examination price increases implemented Geographic growth plans in place Hedging in place to mitigate FX risk Net interest expense should reduce further F'06 EPS Guidance’ reconfirmed at lowe
Slide 23: a tiny
3 pe) ee 28 :s £ a tiny