Orora Limited · ASX:ORA
Orora — Shareholder Meeting (October 2022)
23 slides from Orora's shareholder meeting presentation, Oct 20, 2022
Slide 1: Chair's Address
` Orora Limited - Annual General Meeting 10.30am Thursday 20 October 2022 Chair’s Address Introduction Good morning ladies and gentlemen. I'm Rob Sindel, Chair of Orora Limited, and I will Chair the meeting today. On behalf of the Board of Directors, I'm pleased to welcome you to the ninth Annual Ge
Slide 2: Cash generation, dividends and capital allocation
These stronger earnings were supported by continued robust cash generation with underlying operating cash flow increasing 10.8% to $272.6 million and cash conversion improving to 73.5%. The Board declared a final ordinary dividend of 8.5 cents per share, unfranked. This brought the total dividend in
Slide 3: Sustainability investment, governance and conclusion
Rest assured your Board is committed to the investment and action required to meet ‘Our Promise to the Future’. As I said earlier, we have commenced operating our $25 million glass cullet beneficiation plant, allowing us to process up to 150,000 tonnes of recycled glass each year. This will signific
Slide 4: Managing Director and Chief Executive Officer's Address
Managing Director and Chief Executive Officer’s Address Introduction Thank you, Rob. And thank you all for your continued support of Orora. Continued focus on safety The health, safety and wellbeing of our people is paramount and is supported by our continuous improvement agenda. In FY22 we recorded
Slide 5: Strategic priorities and progress
Collectively these strategic priorities, which align to our strategic pillars, position Orora to deliver Shareholders with consistent, above-market and long-term growth. Progressing our strategy Throughout FY22 we have made good progress against the core strategies for our Australasian and North Ame
Slide 6: Outlook for FY23
Along with the Board and executive leadership team, I am extremely proud of the dedication from our people in executing on ‘Our Promise to the Future’. Outlook Finally, before I hand back to the Chair for the procedural part of the meeting, I would like to cover Orora’s outlook for FY23. The trading
Slide 7: Orora Annual General Meeting 2022
Orora Annual General Meetin 19 oe V a eg | 2022
Slide 8: Important information
Important information Forward Looking Statements This presentation contains forward looking statements that involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to Orora. Forward look
Slide 9: Rob Sindel, Chair
Rob Sindel Chair 3
Slide 10: Board of Directors
Board of Directors Rob Sindel Brian Lowe Abi Cleland Chair Managing Director Independent & CEO Non-Executive Director Tom Gorman Sam Lewis Michael Fraser Independent Independent Independent Non-Executive Director Non-Executive Director Non-Executive Director 4
Slide 11: FY22 financial highlights
FY22 financial highlights Underlying Earnings Before Underlying Net Profit After • Disciplined execution of strategy delivers a Revenue Interest and Tax (EBIT) Tax (NPAT) strong increase in earnings, with underlying $4,090.8m $285.5m $187.1m EBIT and NPAT up 14.6% and 19.4%, respectively • Earnings
Slide 12: Long-term performance
Revenue ($m) Underlying NPAT ($m) Fibre Fibre Sale & Sale & 4,761.5 rebase rebase 4,248.0 217.0 4,039.1 4,090.8 208.6 3,566.2 186.2 187.1 3,538.0 2,456.0 156.7 103.3 Long-term 2,150.2 2,102.2 102.9 2,063.7 127.7 94.1 84.4 1,731.0 1,723.9 65.6 51.1 performance 1,975.4 2,097.8 2,305.5 1,835.2 1,814.1
Slide 13: Sustainability goals
Sustainability goals Net zero emissions2 60% recycled content1 Prioritising action for our by 2050 for Glass beverage people and our 40% reduction in emissions2 containers by 2025 community by 2035 7 1. Pre and post-consumer 2. Scope 1 and 2 from FY19 baseline
Slide 14: Corporate governance
Corporate governance • Good corporate governance is integral • Board is committed to ensuring that it to our culture and business practices is comprised of individuals who collectively have the appropriate skills • Orora’s corporate governance and experience to develop and practices for FY22 comply
Slide 15: Compelling investment proposition
Compelling investment proposition Orora provides investors with a robust and defensive earnings profile in Australasia with attractive growth upside in North America Leadership Robust and Well invested Long term positions in diversified assets and customer trading attractive business model defensive
Slide 16: Brian Lowe, Managing Director and CEO
Brian Lowe Managing Director and CEO 10
Slide 17: Orora safety performance update
Lost time injury frequency rate (LTIFR)* Recordable case frequency rate (RCFR)^ Orora safety performance 2.5 6.8 7.2 update 2.0 June 2021 June 2022 June 2021 June 2022 LTIFR* = (Number of lost time injuries / Total number of hours worked for employees and contractors) x 1,000,000 RCFR^ = (Number of
Slide 18: FY22 operating and segment highlights
FY22 operating and segment highlights Strong revenue and earnings growth in North America with a robust earnings performance in Australasia Australasia North America Revenue EBIT Revenue (USD) EBIT (USD) up 9.0% up 0.2% up 14.3% up 32.6% Revenue growth of 1.5% excluding Inflationary pressures well m
Slide 19: Delivering an attractive growth outlook
Delivering an attractive growth outlook Each business has a clear set of strategic priorities aligned to our strategic pillars. Collectively these position Orora to deliver Shareholders with consistent, above-market, long-term growth Enter new segments – Enhance and expand – mid‐term targets Optimis
Slide 20: Progressing our strategy
Progressing our strategy Disciplined execution of our strategy to drive sustainable earnings growth Australasia – FY22 Progress North America – FY22 Progress • Extension of long-term contracts for key Cans and Glass customers • Continued improvement in OPS financial performance and operating discipl
Slide 21: FY22 sustainability performance highlights
FY22 sustainability performance highlights We continue to invest and make good progress with our sustainability goals and commitments • 38% average recycled content in glass • Reduced emissions by 8.3% (Scope 1 & 2 • Launched Our Orora Culture Shaping containers produced, up from 31% in the prior lo
Slide 22: FY23 outlook
FY23 outlook • The Orora Group earnings are expected to be higher in FY23, reflecting the resilience of the business in what is expected to be a challenging year of economic conditions • In Australasia, EBIT is expected to be broadly in line with FY22, with 1H23 impacted by inflationary cost increas
Slide 23: Thank you
Thank you Authorised for release to the ASX by Orora’s Company Secretary, Ann Stubbings