Pz Cussons Plc · LSE:PZC
Pz Cussons — H1 FY2017 Earnings Presentation
14 slides from Pz Cussons's earnings presentation, Jan 24, 2017
Slide 1: Creating Sustainable Value For All
Creating Interim Results Sustainable Half Year Ended Value For All 30 November 2016 24 January 2017 1
Slide 2: Group Highlights
Group Highlights Solid set of interim results for the Group. Excluding the impact of currency and challenging macro conditions results only slightly lower Brand shares Strong Group maintained or grown portfolio and a new in major markets product pipeline and categories Strong balance Interim dividen
Slide 3: Financial Highlights
Financial Highlights Constant Reported results before Half year to 30 Half year to 30 Reported Like for Like Currency % exceptional items1 November 2016 November 2015 Change % % change4 change3 Revenue2 £378.2m £385.9m (2.0%) (2.6%) (2.6%) Operating profit £41.8m £45.2m (7.5%) (8.4%) (8.4%) Profit b
Slide 4: Revenue Bridge (£m)
Revenue Bridge (£m) 0.5 (1.5) (9.0) 2.3 385.9 378.2 Revenue 30 Trading - Trading - Trading - Foreign Revenue 30 Nov 2015 Africa Asia Europe* Exchange Nov 2016 Notes: *Europe revenues lower on a constant currency basis principally due to the Beauty division being affected by lower UK performance of S
Slide 5: Operating Profit Bridge (£m)
Operating Profit Bridge (£m) 3.0 (4.7) (2.2) 0.5 45.2 41.8 Operating Trading - Trading - Trading - Foreign Operating profit Nov 2015 Africa Asia* Europe Exchange profit Nov 2016 Notes: *Asia operating profits lower on a constant currency basis due to tough trading conditions in Australia and additio
Slide 6: Category Revenue Review
Category Revenue Review £37.8m Electricals Up 1.1% £78.3m Food & Nutrition £203.0m Down 9.2% Personal Care Up 0.8% £54.3m Home Care Down 6.2% Notes: • Variances on a constant currency basis • JV revenue from PZ Wilmar not included – HY17£85.6m (HY16 £90.5m) 6
Slide 7: Regional Financial Overview
Regional Financial Overview HY17 Constant HY17 Constant currency currency Revenue movement Operating movement Profit AFRICA £135.7m £11.6m ASIA £107.9m £3.7m EUROPE £134.6m £26.5m 7
Slide 8: Net Debt Bridge (£m)
Net Debt Bridge (£m) (147.1) 31.5 2.3 (4.2) (191.3) (16.9) (23.0) (15.1) (18.8) Net debt Operating Working Taxation Capex Dividends Foreign Other* Net debt 31 May 2016 cash flow Capital Exchange 30 November (ex WC) 2016 Notes: * Other – Includes MI dividends (£1.5m), net interest cost (£1.6m), ESOT
Slide 9: Regional Overview
CAN DO Regional Overview Update, Future Direction 9
Slide 10: Africa
Africa • Group’s 130 heritage of trading in volatile environments serving us well • All categories have performed relatively well within challenging trading environment • Diverse product ranges and pack sizes across all categories provide wide consumer choice and meets their need for trusted local b
Slide 11: Asia
Asia • Good overall performance across all Asian markets • In Australia, tough trading conditions remain across all categories resulting in lower levels of profitability • New product and packaging launches for Rafferty’s Garden and five:am • In Indonesia, good revenue growth across brand portfolio
Slide 12: Europe
Europe • Robust performance for UK Washing and Bathing division • New product launches for Imperial Leather, Carex and Original Source creating great shelf presence in a challenging trading environment • Continued growth of Carex Fun Editions handwash for children, including Love Hearts variant • So
Slide 13: Europe
Europe • UK Beauty division delivered a good performance across the period • St.Tropez sales affected by poor summer weather • New product launches planned for the remainder of the year across Sanctuary, St Tropez, Fudge and Charles Worthington • Sanctuary range expansion to broaden portfolio and cr
Slide 14: Summary & Outlook
Summary & Outlook Strength of Group’s brand portfolio and innovation pipeline continues to ensure brand shares remain strong Despite currency liquidity and pressure on consumer income, the brand portfolio in Nigeria is well positioned for the seasonally higher second half SAP implementation on targe