Slide 1: Metro Performance Glass
Metro Performance Glass Results for the 12 months ended 31 March 2016 Strictly confidential and not for public release
Slide 2: Agenda
Agenda 1. Year in review – Nigel Rigby, CEO 2. Financial results – John Fraser-Mackenzie, CFO 3. Market trends – Nigel Rigby 4. Strategy and operational priorities – Nigel Rigby Strictly confidential and not for public release 1
Slide 3: Financial highlights for 2016
Financial highlights for 2016 1 Results within guidance despite external industry constraints: revenue grew approximately +10% on a pro-forma basis to $188.0m. Achieved EBITDA of $37.5m and NPAT of $20.5m 2 Achieved strong growth in sales to residential window manufacturers: estimated market share
Slide 4: Operating performance in 2016
Operating performance in 2016 1 Record volumes of glass processed in all four plants: including a +79% increase in sales of high performance LowE glass 2 Continued to invest in product leadership: installed new value adding equipment including market leading edge-working machinery, digital printin
Slide 5: Financial results
Financial results Strictly confidential and not for public release
Slide 6: Summary financial performance
Summary financial performance Key P&L items ($000) FY16 FY151,2 Revenue grew to a record $188.0m, broadly in line with (12 months) (8 months) guidance and up approximately +10.0% on a pro-forma basis Revenue 188,037 114,998 – Pleasing given continued external industry constraints Cost of sales 90,72
Slide 7: Summary cash flow & balance sheet
Summary cash flow & balance sheet FY16 FY151 Major processing capacity expansion programme now Key cash flow items ($000) complete. FY16 capital expenditure included: (12 months) (8 months) Operating cash flows 27,605 23,006 – Installation of additional market leading glass machinery, largely in Auc
Slide 8: FY16: final dividend
FY16: final dividend The Board has declared a fully imputed interim dividend of 4.0 cents per share, to be paid on 25 July 2016 to all shareholders on the register as at 8 July 2016 This brings total dividends declared for FY16 to 7.6 cps, equating to 64% of NPATA1 – This pay-out is consistent with
Slide 9: Market trends
Market trends Strictly confidential and not for public release
Slide 10: Market conditions: macro trends
Market conditions: macro trends Construction activity and building consents have returned to pre global financial crisis levels, backed by record net migration, low interest rates and continuing positive momentum in building activity Revenue increased approximately +10% on a pro-forma basis, ahead o
Slide 11: Market conditions: regional trends
Market conditions: regional trends Residential building consent issuance grew 11% year on year, with consents for the twelve months to March reaching ~27,800, led by Auckland +20% and surrounding regions (Waikato +34%, Bay of Plenty +45%) The Canterbury residential rebuild is nearing completion and
Slide 12: Strategy and operational priorities
Strategy and operational priorities Strictly confidential and not for public release
Slide 13: Metro Performance Glass' business model
Metro Performance Glass’ business model Driven by customised product, short lead times and a broad product range that requires flexible manufacturing equipment and processes Customised product Short lead time New Zealand residential windows are generally Industry standard for delivery of windows and
Slide 14: Metro Performance Glass' business strategy
Metro Performance Glass’ business strategy Metro Glass’ scale, IP and people enable the company to consistently deliver leadership in three key disciplines: Customer intimacy Product leadership Building a consumer glass brand World leading technology in NZ first Business to business service relation
Slide 15: Review of 2016's operational priorities
The company is enjoying favourable market conditions and is well positioned for the future Review of 2016’s operational priorities Operational priority Achievements Drive top line growth and glass Revenue growth of approximately +10% on a pro-forma basis 1 category share Estimated DGU market sha
Slide 16: Appendix
Appendix Strictly confidential and not for public release
Slide 17: Explanation of non-GAAP profit measures
Explanation of non-GAAP profit measures Non-GAAP financial measures Our results are reported under NZ IFRS. This presentation includes non-GAAP financial measures which are not prepared in accordance with NZ IFRS The non-GAAP financial measures used in this presentation include: – EBITDA: calculated
Slide 18: Contact information
Contact information Metro Performance Glass Limited Nigel Rigby – Chief Executive Officer nigel.rigby@metroglass.co.nz 5 Lady Fisher Place, East Tamaki (+64) 027 703 4184 Auckland 2013 New Zealand John Fraser-Mackenzie – Chief Financial Officer Ph: + 64 9 927 3000 john.fraser-mackenzie@metroglass.co
Slide 19: Disclaimer
Disclaimer Please do not read this presentation in isolation This presentation supplements our full year results announcement dated 26 May 2016, the preliminary FY16 financial statements. It should be read subject to and in conjunction with the additional information in that release, and other mater