Nuchev Pty Ltd · ASX:NUC
Nuchev Pty — Shareholder Meeting (June 2024)
19 slides from Nuchev Pty's shareholder meeting presentation, Jun 19, 2024
Slide 1: Extraordinary General Meeting Corporate Investor Presentation
ASX ANNOUNCEMENT | 19 June 2024 19 June 2024 ASX Market Release Extraordinary General Meeting Corporate Investor Presentation Nuchev Limited (ASX: NUC) (Nuchev or the Company) is pleased to release the Corporate Investor Presentation which will be delivered to Shareholders at the Company’s Extraordi
Slide 2: Extraordinary General Meeting
For personal use only Extraordinary General Meeting Wednesday 19 June 2024 at 10.00am AEST
Slide 3: Growth Strategy
Growth Strategy Leading wellness, premium digestion, immunity and nutritional Our Purpose 1 products across multiple categories For personal use only Wellness and food for a better life 2 International growth (China, SE Asia) and stable ANZ business Leading wellness, premium digestion, immunity and
Slide 4: Executive Summary | bWellness Acquisition
Executive Summary | bWellness Acquisition Overview On 17th May, Nuchev entered into an agreement to acquire 100% of the shares in bWellness Pty Limited (“bWellness”) on a cash-free, debt-free basis for total For personal use only consideration of $7.0 million Implied acquisition multiple of 4.3x
Slide 5: Equity Raising
Equity Raising Offer Overview The cash component of the acquisition is funded by an entitlement offer (“Entitlement Offer”) for 1 fully paid ordinary share (New Share) for every 2.75 Shares For personal use only held by eligible Nuchev shareholders to raise up to approximately $5.1 million Funds
Slide 6: Strategic Rationale
Strategic Rationale 1. Alignment with Nuchev’s Purpose & Strategy • Purpose: “Wellness and food for a better life” For personal use only • Focus: Functional health products backed by clinical trials and research 2. Scaling the business • Building a diversified brand and product portfolio delivering
Slide 7: Nuchev Group Overview | Post-Acquisition
Nuchev Group Overview | Post-Acquisition For personal use only PF FY23A Revenue Brands ~$18.0m Goat Infant Formula, Digestion & Immunity Nutritionals Other Health & Nutritional PF 1H24A Revenue Australia & ~$11.5m Cross Border E-Commerce New Zealand Wholesale Distribution PF Net Cash1 ~$7.5m End Mar
Slide 8: Aligned with High Growth, Significant Global Markets
Aligned with High Growth, Significant Global Markets Infant Formula Nutritional & Immunity Health & Wellbeing For personal use only • Well established in market • Immunity+ launched and • bWellness European and own with Oli6® as foundation expanding brand will facilitate growth product into an expan
Slide 9: bWellness Overview
bWellness Overview Overview of bWellness Financial snapshot1 • bWellness began its operations in 2001, specializing in prescription-only, high-efficacy, For personal use only premium health products targeting practitioners • Since its founding, bWellness has developed a selection of natural health p
Slide 10: bWellness Business Model
bWellness Business Model 1. Suppliers & Brands For personal use only 2. Third Party Logistics (3PL) 1. Nutraceutical brands 1. Homeopathic brands 1. Medical device brands 3. Distributors 4. Practitioners and Retail Australia (Ariya only) 2. 3PL New Zealand (both) 5. Patient (End User) 3. Australian
Slide 11: bWellness Sales Growth Strategy
bWellness Sales Growth Strategy Item Description For personal use only • Establish new high quality brand relationships 1. Develop new exclusive brand relationships • bWellness is actively pursuing other brands for exclusivity to further grow sales in the near-term • Development and manufacture of n
Slide 12: Complementary Medicines | Market Overview
Complementary Medicines | Market Overview Sales channels for complementary medicines Approximately 75% of people in Australia regularly use For personal use only complementary medicines Direct Selling Health Food 4.9% Stores 3.0% Nuchev and bWellness have Sales in vitamin and dietary supplemental an
Slide 13: Proforma Profit & Loss
Proforma Profit & Loss A$m Nuchev bWellness Pro Forma Group Commentary and assumptions: 1 FY23A 1H 24 FY23A 1H 24 FY23A 1H 24 For personal use only Revenue 8.8 6.6 9.0 4.9 17.8 11.5 • Nuchev delivers combined revenues of $11.5m 1HFY24; Revenue growth % $17.8 million for FY23 Less: Cost of sales (6.9
Slide 14: Nuchev Building Financial Scale
Nuchev Building Financial Scale Pro forma Group half year sales and GM% for FY22A – 1H 24A1 Commentary and assumptions: For personal use only • Half year Nuchev sales profile has remained 38.7% relatively constant in recent times 37.8% • Material growth in Nuchev sales have 33.2% Group Half-on-Half
Slide 15: Q3 FY24 Financial Update
Q3 FY24 Financial Update Commentary and assumptions: Quarterly sales FY23 and YTD FY24 F1 • Nuchev has had robust revenue growth, with FY24 year-to-date sales exceeding total FY23 revenue For personal use only Nuchev’s sales year-to-date in FY24 has already surpassed FY23A full year revenue • There
Slide 16: Details of the Offer
Details of the Offer Offer Overview For personal use only Entitlement Offer (“Entitlement Offer” or the “Offer”) of 1 fully paid ordinary share (New Share) for every 2.75 Shares held by eligible shareholders to raise up to approximately $5.1 million at a price of $0.1560 per Share Offer structure
Slide 17: Capital Raising Timetable
Capital Raising Timetable Key Events Date For personal use only Announce Entitlement Offer and bWellness acquisition Monday 20 May 2024 Notice of Extraordinary General Meeting sent to shareholders Monday 20 May 2024 Record Date Friday 24 May 2024 at 7.00pm AEST Entitlement Offer opens Monday 27 May
Slide 18: Concluding Highlights
Concluding Highlights Increased Scale & Institutional Strong Margin Profile For personal use only Diversity Relevance bWellness has FY23A standalone 1H FY24 proforma revenue $11.5m; Increased scale, diversification and gross margin of 51.2% with pro forma FY23 proforma revenue $17.8m, pro operating
Slide 19: For personal use only
For personal use only