Slide 1: Copies of slides for investor presentation and webcast
Brambles Limited ABN 89 118 896 021 Level 40 Gateway 1 Macquarie Place Sydney NSW 2000 Australia GPO Box 4173 Sydney NSW 2001 Tel +61 2 9256 5222 Fax +61 2 9256 5299 www.brambles.com For personal use only 20 August 2014 The Manager-Listings Australian Securities Exchange Limited Exchange Centre 20 B
Slide 2: Full-year results: Overview & Results Highlights
For personal use only Full-year results 20 August 2014 Overview & Results Highlights Tom Gorman, CEO 2
Slide 3: Key messages
Key messages For personal use only Strategy on track and positive outlook for FY15 Sales revenue growth and Underlying Profit delivered in line with guidance Pallets: constant-currency sales and profit growth across all regions with strong operational efficiencies delivered in Europe; on track for f
Slide 4: Delivery scorecard
Delivery scorecard For personal use only Performance consistent with five-year targets Objective Progress FY14 constant-currency sales revenue growth of 7% Delivered US$66M delivered to FY14 (below target); US$100M of Pallets efficiencies and IFCO synergies by FY15 remainder to be delivered in FY15
Slide 5: Net new business wins (Pallets)
Net new business wins (Pallets) For personal use only Momentum improving for FY15 Composition of Pallets’ sales revenue growth Implied forward contribution of prior year rollover (US$M) 7% 70 6% 60 Constant-currency growth 5% 50 4% 40 3% 30 2% 20 1% 10 0% 0 FY12 FY13 FY14 FY13 FY14 FY15 estimate Org
Slide 6: RPCs segment results summary
RPCs segment results summary For personal use only Sales growth improving; one-offs and short-term profit impacts FY14 Change vs FY13 Improved second-half sales momentum Actual Constant in North America US$M FX FX Strong growth contribution from all Europe 581 14% 9% other regions North America 174
Slide 7: Group operating profit growth analysis
For personal use only Financial Analysis Zlatko Todorcevski, CFO 11 Group operating profit growth analysis Positive performance but cost challenges remain (US$M) 25 (81) 7 141 (39) (11) 1 929 930 887 FY13 Volume, Acquisitions Operational Direct costs Other Significant FY14 FX FY14 price, mix efficie
Slide 8: Pallets asset efficiency metrics
Pallets asset efficiency metrics For personal use only Improving replacement capex trend sustained Replacement/growth capex (left-hand side) and DIN ratio (right-hand side) 800 16% 14% 700 Total pooling equipment capex (US$M) 12% 600 DIN/sales revenue 10% 500 8% 6% 400 4% 300 2% 200 0% FY10 FY11 FY1
Slide 9: Pallets Americas operating profit analysis
Pallets Americas operating profit analysis For personal use only Asset management improvement driving higher repair costs (US$M) 13 (45) Reduced IPEP expense 48 9 (12) (9) Higher repair intensity Transport and depreciation 428 415 419 Profitable sales growth in CHEP Margin contraction in PMS FY13 Vo
Slide 10: RPCs operating profit analysis
RPCs operating profit analysis For personal use only Second-half rebound in sales growth (US$M) Increased depreciation Higher plant and transport costs 26 (20) (19) <1 (1) IFCO CEO/CFO retirement Higher marketing costs South America impairment 138 Investment for growth 125 124 Organic volume growth
Slide 11: Strong balance sheet position
Strong balance sheet position For personal use only Supported by recent €500M European medium-term note issue June 2014 June 2013 Net debt (US$) 2,362 2,714 Average term of committed facilities (years) 4.1 3.6 FY141 FY132 EBITDA/net finance costs (x) 13.2 14.6 Net debt/EBITDA (x) 1.59 1.68 1 For FY1
Slide 12: A long-term perspective
For personal use only Strategy & Outlook Tom Gorman, CEO 21 A long-term perspective Driving performance beyond the current horizon 1 2 3 Embedded investment proposition and five-year plan: One Better enablement - Maintain network advantage Reinvigorated approach - High single digit constant-currency
Slide 13: Assessing the portfolio
Assessing the portfolio For personal use only Ongoing emphasis on execution to create value IFCO South America CHEP Latin America CHEP Middle East RPCs ANZ & & Africa (Pallets) South Africa IFCO Europe CHEP Asia FY14 sales revenue growth CHEP Catalyst & Automotive (Pallets) Chemical Containers CHEP
Slide 14: Q&A and Disclaimer
For personal use only Q&A Disclaimer The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and obser
Slide 15: Investor Relations contacts
Investor Relations contacts For personal use only James Hall Vice President, Investor Relations & Corporate Affairs james.hall@brambles.com +61 2 9256 5262 +61 401 524 645 Raluca Chiriacescu Manager, Investor Relations raluca.chiriacescu@brambles.com +61 2 9256 5211 +61 427 791 189 27 Appendices
Slide 16: Glossary of terms and measures
Appendix 1 For personal use only Glossary of terms and measures Except where noted, common terms and measures used in this document are based upon the following definitions: Actual currency/FX Results translated into US dollars at the applicable actual monthly exchange rates ruling in each period. A
Slide 17: Glossary of terms and measures (continued)
Appendix 1 For personal use only Glossary of terms and measures (continued) Except where noted, common terms and measures used in this document are based upon the following definitions: Operating profit Profit before finance costs and tax, as shown in the statutory financial statements. Organic grow
Slide 18: FY14 currency mix
Appendix 3 For personal use only FY14 currency mix (continuing operations) (US$M) Total USD EUR GBP AUD Other Pallets 4,123.4 1,748.4 838.8 360.7 282.7 892.8 RPCs 895.8 173.8 437.2 57.0 81.8 146.0 Containers 385.3 65.2 148.7 39.5 56.9 75.0 Sales revenue 5,404.5 1,987.4 1,424.7 457.2 421.4 1,113.8 Ne
Slide 19: Effective tax rate
Appendix 5 For personal use only Effective tax rate FY14 FY13 Continuing operations (US$M) Statutory Underlying Statutory Underlying Profit before tax 816.5 847.1 776.3 802.2 Tax expense 232.0 242.4 220.0 228.9 Effective tax rate 28.4% 28.6% 28.3% 28.5% 35 Appendix 6 Statutory profit reconciliation
Slide 20: Pallets Asia-Pacific operating profit analysis
Appendix 7 For personal use only Pallets Asia-Pacific operating profit analysis (US$M) 4 (11) 11 (2) 1 (7) 80 77 73 FY13 Volume, Operational Direct Other Significant FY14 FX FY14 price, mix efficiencies costs Items (constant FX) 37 Appendix 8 Containers operating profit analysis (US$M) 15 (4) (7) 7
Slide 21: Underlying Profit currency reconciliation
Appendix 9 For personal use only Underlying Profit currency reconciliation (US$M) 1,030 to 1,060 Growth: 7-10% 965 Growth: 6% Growth: 5% 960 947 913 895 FY13 result FY14 result FY13 result FY14 result FY14 result FY15 guidance (30 June (30 June (actual FX) (actual FX) (30 June (30 June 2013 FX) 2013
Slide 22: Pallets transport costs ratio
Appendix 11 For personal use only Pallets transport costs ratio 22% Net transport costs to sales revenue 20% 18% 16% 14% 12% FY10 FY11 FY12 FY13 FY14 Americas EMEA Asia-Pacific Total 41 Appendix 12 Return on Capital Invested 25% 20% 15% 10% 5% FY10 FY11 FY12 FY13 FY14 Pallets RPCs Containers Group 4
Slide 23: CHEP USA pallet productivity trends
Appendix 13 For personal use only CHEP USA pallet productivity trends (B4840) Control ratio New equipment issue ratio (Returns + recoveries/total issues) (Pallets purchased/total issues) 100% 6% 98% 4% 96% 2% 94% 0% FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY05 FY06 FY07 FY08 FY09 FY10 FY11
Slide 24: Credit facilities and debt profile
Appendix 15 For personal use only Credit facilities and debt profile US$B at 30 June 2014 Committed Uncommitted Maturity Type Debt drawn Headroom facilities facilities <12 months Bank/USPP1/144A2/Other 0.4 0.3 0.5 0.2 1 to 2 years Bank/USPP1/Other 0.9 - 0.1 0.8 2 to 3 years Bank/USPP1/Other 0.8 - 0.
Slide 25: www.brambles.com
For personal use only www.brambles.com