Big River Industries Ltd. · ASX:BRI
Big River Industries — Investor Presentation (August 2021)
14 slides from Big River Industries's investor presentation, Aug 24, 2021
Slide 1: Big River Industries Limited (ASX:BRI) FY2021 Results Presentation
Big River Industries Limited (ASX:BRI) FY2021 Results Presentation – 24 August 2021
Slide 2: Contents
Contents • Big River Diversity • Positive ESG Story • Project Images From 2021 • Performance Headlines • Operational Summary • Strategy Update • Earnings Summary • Balance Sheet • Cash Flow • FY2022 Outlook • Appendix • Disclaimer
Slide 3: Big River Diversity
Big River Diversity Diversified by geography, industry segment, Formwork materials – 20% construction type and customer (1) Target Product Building Products – 45% categories Panels – 35% A & A 10% Civil 7% OEM / Industrial 9% Commercial Revenue by 21% Resi MD construction market 10% Resi High Rise R
Slide 4: Positive ESG Story
Positive ESG Story ❑ GHG emitted during timber manufacture far lower than any other building materials ❑ Timber has the lowest embodied energy of all building materials Environmental ❑ Carbon sequestration of working forests results in net negative carbon contribution for the entire product lifecycl
Slide 5: Project Images From 2021
Project Images From 2021 1 Feature project examples: 1. Regional NSW - Fully prefabricated engineered timber bridge 2. Queens Wharf Project Brisbane - Formwork materials 3. Taronga Zoo Sydney Giraffe Enclosure - Plywood and timber fit-out 2 3 5
Slide 6: Performance Headlines
Performance Headlines ❑ FY21 Revenue of $281m, up 13% on FY20 ❑ Like for like sales grew 4% for the full year, with 7% growth in 2H21 ❑ Underlying EBITDA of $22.5m representing a 30% increase on FY20 , while EBIT of $13.1m was 47% ahead of Financial FY20 Results ❑ Underlying NPAT up 68% on FY20, des
Slide 7: Operational Summary
Operational Summary ❑ FY21 statutory revenue of $281m was up 13% on FY20 ▪ Every region and product category grew except NSW formwork, which showed a 3% revenue decline ▪ Overall addressable market grew 2% after 3 years of declines, held down by significant declines in multi- Sales residential and c
Slide 8: Strategy Update
Strategy Update ❑ Significantly improved Product category diversification achieved in FY21 with the execution of the TWP deal ❑ Strength of geographic diversity shone through despite different States having multiple lockdown conditions at Diversified various times during the year Business ▪ Like for
Slide 9: Earnings Summary
Earnings Summary Key Financial Measures FY2021 FY2020 Financial Summary Change Revenue $281.4m 13.0% ($m's) ($m's) Operating EBITDA (1) $22.5m 30.4% Revenue 281.4 248.9 13.0% Operating EBITDA margin 8.0% 15.4% NPAT (before significant items) $7.8m 68.4% EBITDA & Other: EPS (before significan
Slide 10: Balance Sheet
Balance Sheet 30 Jun 21 30 Jun 20 Balance Sheet ($m's) ($m's) ❑ Trade working capital (TWC) as a percentage of revenue was Cash 7.8 8.7 17.9% on a weighted average basis Receivables 54.0 43.6 ❑ TWC increased $24m in dollar terms Inventories 54.1 38.2 ▪ $14m from Timberwood Fixed assets 20.8 27.8 ▪ $
Slide 11: Cash Flow
Cash Flow FY2021 FY2020 ❑ Operating cash flow before interest and tax (OCFBIT) as a Cash Flow percentage of actual EBITDA remained strong at 77% despite ($m's) ($m's) growth in working capital (inventory) Receipts from customers 305.6 274.6 ❑ OCFBIT rises to 80% when excluding the Wagga restructure
Slide 12: FY2022 Outlook
FY2022 Outlook ❑ Big River expects the addressable market to grow by circa 4% in FY22, assuming no significant lockdown scenarios for the construction industry ❑ Detached housing starts will continue to lag approvals, as materials and labour shortages extend the Homebuilder Market pipeline well into
Slide 13: Appendix
Appendix Key Financial Measures FY2017 FY2018 FY2019 FY2020 FY2021 PROFIT & LOSS ($m's) FY2017 FY2018 FY2019 FY2020 FY2021 Profitability Revenue 177.1 210.9 217.8 248.9 281.4 Revenue $177.1m $210.9m $217.8m $248.9m $281.4m Operating EBITDA (before significant items) $10.2m $11.0m $9.8m $17.3m $22.5m
Slide 14: Important Notice and Disclaimer
Important Notice and Disclaimer ▪ This presentation is dated 24 August 2021. ▪ Big River Industries Limited (the "Company") advises that the information contained in this presentation is intended to be general background information about the Company's activities as at the date of this presentation.
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