Clover Corporation Limited · ASX:CLV
Clover — Shareholder Meeting (November 2021)
13 slides from Clover's shareholder meeting presentation, Nov 18, 2021
Slide 1: Managing Director's Report 12 Months to 31 July 2021
Managing Director’s Report 12 Months to 31 July 2021 18 November 2021 1
Slide 2: Vision, Values and Purpose Statement
Vision, Values and Purpose Statement Vision To optimise the health and development of adults, infants and children. Values Respect, Response, Responsibility Purpose In collaboration with key market participants, Clover develops customised high value nutritional ingredients that enhance the wellbeing
Slide 3: Full Year FY'21 Performance Highlights
Full Year FY’21 Performance Highlights ♣ Total full year Revenue ♣ New products continuing to $60.5m down 32.0% on be developed to move forward in new segments and FY20 $88.3m driven by markets reduced demand ♣ Inventory at $30.8m ♣ Net Profit $6.0m down $1.1m on FY20 full year down 51.9% on FY20 $1
Slide 4: COVID-19 Update
COVID-19 Update ♣ Clover has managed the business to a COVID-19 safe plan with the focus on the health and safety of our employees, customers and suppliers ♣ Customer demand has been curtailed by COVID-19 conditions ♣ Clover maintains a relatively high inventory position to act as a buffer to insuff
Slide 5: Sales by Geography
Sales by Geography EU Sales A$000 14,000 12,000 Europe 10,000 ♣ European sales have been slowed by COVID-19 8,000 6,000 restrictions and general activity in the market 4,000 ♣ European infant formula manufacturers have 2,000 reduced sales into China 0 2016 2017 2018 2019 2020 2021 Asia / ANZ Sales A
Slide 6: Full Year 2021 Results
Full Year 2021 Results ♣ 32% year on year revenue decline ♣ Pantry stacking of FY20 and AUD million 4E Reported 4E Reported ongoing COVID-19 restrictions in 31 Jul 2021 31 Jul 2020 FY21 leading to lower volumes and revenue decline. Revenue $60.5 $88.3 EBITDA $9.5 $18.9 ♣ 3% Margin decline impacted b
Slide 7: Balance Sheet 31 July 2021
Balance Sheet 31 July 2021 AUD Reported Reported 31 Jul 2021 31 Jul 2020 Movement $M $M $M ♣ Cash balance strong $9.1m Cash 9.1 9.2 (0.1) Trade Receivables 13.3 16.8 (3.5) ♣ Trade receivables down on FY21 sales Inventories 30.8 31.9 (1.1) against FY20 strong Total Current Assets 54.7 59.1 (4.4) fini
Slide 8: Melody Dairies - New Zealand
Melody Dairies- New Zealand ♣ Clover has 42% ownership of a spray drying facility in Hamilton, New Zealand ♣ The factory had a delayed start up in FY21 due to COVID-19 delays in construction, accreditation and customer acceptance testing ♣ Clover has been impacted by its share of the loss associated
Slide 9: An Update on Growth Platforms
An Update on Growth Platforms Focus on Infant Formula New New Product Market Development Development 9
Slide 10: Market Development - Diversification
G r o wt h P l a t f o r ms Market Development- Diversification 10
Slide 11: Product Development - Applications
G r o wt h P l a t f o r ms Product Development - Applications Gummies (Hypoallergenic 50% fish oil concentrate powder ): 200mg DHA / 9 grams serve Sports bars (Driphorm 60% fish oil concentrate powder): 250mg / 30gram bar Extended shelf-life dairy base drink (Driphorm 50% algal powder): 125mg / 250
Slide 12: Growth Platform: Focus on Infant Formula
Focus on Infant Growth Platform Formula Infant formula provides new opportunities ♣ China’s legislation requiring infant formula to contain a min 15mg/100Kcal of DHA and ARA has been fully approved with manufacturer's currently transitioning formulations for commencement in Feb 2023 ♣ Clover has est
Slide 13: 1HFY22 Outlook & Priorities
1HFY22 Outlook & Priorities ♣ The health & safety of employees, customers and suppliers remains our focus ♣ Supply chain challenges are a focus on obtaining raw materials and ensuring our customers are well serviced ♣ Re-engaging with customers to progress the new product and application pipeline in