Slide 1: FY24 Full-Year Results Presentation
FY24 Full-Year Results Presentation AUGUST 2024 Creating shareholder value through the efficient operation of our businesses and long-term growth in our investments
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Schaffer Corporation Limited ACN 008 675 689 (“The Company”). This presentation is for information purposes only and is not a prospectus or product disclosure statement, financial product or investment advice or a recommendation to acquire Schaffer C
Slide 3: Organisation Chart
Organisation Chart MANUFACTURING GROUP INVESTMENTS SOUTH CONNECT JANDAKOT AUTOMOTIVE LEATHER (83% OWNED) SFC (100%) AND GOSH CAPITAL (83%) JANDAKOT - ▪ Finishing ▪ Company Owned Property ▪ 100% Owned - Slovakia - Victoria, Australia ▪ Syndicated Investment Property ▪ A large strategic asset located
Slide 4: Group Consolidated Financial Performance
Group Consolidated Financial Performance Full-Year ending June ($m) FY24 FY23 % Change2 FY24 Statutory NPAT1 increased 99% to $27.1m (FY23: $13.6m) Revenue $226.2 $183.6 23.2% Net Profit After Tax (NPAT)1 from: 1▪ Automotive Leather profitability increased to $15.3m, up Automotive Leather 1 $15.3 $1
Slide 5: Fully Franked Dividends
Fully Franked Dividends SFC is a consistent dividend payer ▪ The Board has declared a fully franked interim dividend of $0.45 per share, for shareholders on record on 6 September 2024, payable on 20 September 2024. 90 90 90 90 80 70 45 45 45 45 35 45 40 25 25 26 30 45 45 45 45 45 13 13 14 30 12 12 1
Slide 6: Cash Generated
Cash Generated Full-Year ending June ($m) FY24 FY23 Strong cash generation of $48.7m (FY23: $6.1m) primarily related NPAT 1 27.1 13.6 to: Change in Automotive Leather trade working capital 2 16.2 (20.8) Depreciation 8.4 7.9 1 Improved profitability from Automotive Leather and Delta. Net unrealised p
Slide 7: Group Net Debt Overview ($m)
Group Net Debt Overview ($m) MANUFACTURING GROUP INVESTMENTS Syndicated Automotive SFC Gosh Total Total All amounts in $m Jandakot Investment Leather Investments Capital June 24 June 23 Properties Type of Debt: Bank and other debt (15.8) (1.4) (12.2) (22.2) (7.8) (59.5) (71.4) Equipment finance (5.6
Slide 8: Automotive Leather
Automotive Leather Full-Year ending June FY24 revenues increased 27% to $182m (FY23: $143m), with NPAT1 increasing 1H24 2H24 FY24 FY23 ($m) 39% to $15.3m (FY23: $11.1m). Revenue $92.8 $89.1 $181.9 $142.8 ▪ Volumes and profitability benefitted from the launch of the new Mercedes E- Segment NPAT1 $7.8
Slide 9: Automotive Leather Outlook and Risks
Automotive Leather Outlook ▪ Notwithstanding a slowing economic backdrop, profitability for 1H25 should be higher than 2H24. ▪ Multiple Audi programs should launch during 1H25 with further programs launching sometime later in calendar 2025. These are large programs that should result in increased re
Slide 10: Delta
Delta Summary Full-Year ending June ($m) FY24 FY23 ▪ Delta increased NPAT to $4.5m (FY23: $2.0m): Revenue $31.1 $28.7 ▪ Improved operational efficiencies Segment NPAT $4.5 $2.0 ▪ Prior year margins and cashflows were impacted by design and engineering complexity on a large project. Outlook ▪ Given i
Slide 11: Group Investments
Group Investments Full-Year ending June ($m) FY24 FY23 ▪ Group Investments represents a growing proportion of the Group’s underlying assets and valuation. Revenue $13.2 $12.1 Segment NPAT1,2 $10.5 $3.2 ▪ We continue to grow the division opportunistically with the objective of maximising shareholder
Slide 12: Group Investments – Pre-Tax Net Equity Value
Group Investments Pre-Tax Net Equity Value1 of $210.9m (June 23: $186.5m) or $15.53/share (June 23: $13.73/share) $210.9 ▪ Pre-Tax Net Equity Value1 has increased to $211m in FY24 from $96m in FY17, +$115m over the 7 years. $191.7 $187.7 $18.9 $186.5 $20.6 $8.7 $36.3 $23.4 ▪ Over the same 7-year per
Slide 13: Group Investments – Property
Group Investments – Property Fugro Building West Perth, WA Hometown Cannington, WA Home Space, Tamworth, NSW 39 Dixon Rd Rockingham, WA Parks Centre Bunbury, WA Full-Year Results Presentation AUGUST 2024 13
Slide 14: South Connect – Jandakot Logistics Estate
South Connect – Jandakot Logistics Estate Aerial View – August 2024 Full-Year Results Presentation AUGUST 2024 14
Slide 15: Jandakot – South Connect – Logistics Estate
Jandakot – South Connect – Logistics Estate A large strategic property asset located between two freeways and 15 minutes south of the Perth CBD. South Connect – Jandakot Logistics Estate is well located to benefit from the increased demand for logistic and “last-mile” warehousing driven by the rapid
Slide 16: Group Outlook – 1H25
Group Outlook – 1H25 Outlook Risk Factors While the current environment has many potential risks, our manufacturing ▪ Delayed program launches for Automotive Leather operations should continue to perform well during 1H25. ▪ Adverse currency volatility for Automotive Leather ▪ Automotive Leather ▪ Br
Slide 17: Non-IFRS Financial Information
Non-IFRS Financial Information Schaffer Corporation Limited results are reported under As at Reconciliation of Net Debt ($000’s) International Financial Reporting Standards (IFRS) as issued by the Jun 2024 Jun 2023 International Accounting Standards Board. The Company Interest-bearing loans and borr
Slide 18: Appendix I - Group Investments – Pre-Tax Net Equity Value
Appendix I - Group Investments – Pre-Tax Net Equity Value1,2 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY24 FY24 Pre-Tax Net Equity Value1,2 ($m) ($m) ($m) ($m) ($m) ($m) ($m) Per Share % of Portfolio Property: Used by SFC Operations $11.4 $11.4 $9.7 $9.7 $9.7 $10.1 $10.1 $0.74 5% Jandakot –South Connect $
Slide 19: Appendix II - Group Investments – Property Portfolio
Appendix II - Group Investments – Property Portfolio Notional Current SFC SFC Share SFC Share Post-Tax Year Land Size Tax on Address Description Ownership Structure Lettable Ownership of Market of Debt Net Equity Acquired (sqm) Capital Area (sqm) % Value ($m) ($m) Value ($m) Gain ($m) Property used
Slide 20: Appendix II - Group Investments – Property Portfolio
Appendix II - Group Investments – Property Portfolio Notional Current SFC SFC Share SFC Share Post-Tax Year Land Size Tax on Address Description Ownership Structure Lettable Ownership of Market of Debt Net Equity Acquired (sqm) Capital Area (sqm) % Value ($m) ($m) Value ($m) Gain ($m) Development Si