Reliance Worldwide Corp. Ltd. · ASX:RWC
Reliance Worldwide — FY2022 Earnings Presentation
10 slides from Reliance Worldwide's earnings presentation, Apr 29, 2022
Slide 1: FY22 Third Quarter Trading Update
FY22 Third Quarter Trading Update 29 April 2022 RELIANCE WORLDWIDE CORPORATION LIMITED ABN 46 610 855 877
Slide 2: Important Notice
Important Notice This presentation contains general information about Reliance Worldwide Corporation Limited’s activities at the date of presentation (29 April 2022). It is information given in summary form and does not purport to be complete. The presentation is not an offer or invitation for subsc
Slide 3: Summary of 9-Month FY22 Performance
Summary of 9-Month FY22 Performance Commentary Nine months ended: Variance Variance 31 Mar 211 31 Mar 22 FY22 v FY22 v ▪ Sales growth recorded in Americas and Asia Pacific US$m FY21 YTD FY20 YTD regions, slight decline in EMEA revenues following strong activity levels in the pcp Net Sales 740.5 845.
Slide 4: Segment results: Americas
Segment results: Americas Variance Variance Nine months ended: FY22 v FY21 FY22 v FY20 31 Mar 21 31 Mar 22 YTD YTD US$m Net Sales 469.4 562.2 20% 53% - RWC 469.4 492.4 5% 34% - EZ-FLO - 69.7 - - Adjusted EBITDA 92.8 92.3 -1% 61% - RWC excl. EZ-FLO 92.8 85.9 -7% 50% Adjusted EBITDA Margin 19.8% 16.4%
Slide 5: Segment results: Americas
Segment results: Americas Sales growth of 34% on a 2-year basis excluding EZ-FLO Americas 9 Months YTD Revenues US$m Commentary +53% ▪ Sales in the Americas 20% higher than pcp, includes EZ-FLO from mid-Nov 2021 onwards, and impact of price increases 500 ▪ Adjusting for $31 million in sales in prior
Slide 6: Segment results: Asia Pacific
Segment results: Asia Pacific Nine months ended: Variance Variance 31 Mar 21 31 Mar 22 FY22 v FY22 v A$m FY21 YTD FY20 YTD Commentary Net Sales 202.9 220.9 9% 20% ▪ APAC sales for up 9% reflecting continued strong Adjusted EBITDA 48.8 45.8 -6% 26% domestic demand in Australia driven by increased new
Slide 7: Segment results: EMEA
Segment results: EMEA Nine months ended: Variance Variance Commentary 31 Mar 21 31 Mar 22 FY22 v FY22 v £m FY21 YTD FY20 YTD ▪ EMEA sales declined by 1% for the period Net Sales 160.4 158.8 -1% 10% ▪ Continental Europe sales higher driven by growth in Adjusted EBITDA 54.4 51.6 -5% 15% demand for wat
Slide 8: EMEA trends through COVID
EMEA trends through COVID Restocking by UK distributors post COVID lockdowns in July – Dec ‘20 drove strong volume growth with reversion to long term trend subsequently Index = 100 RWC Top 20 UK P&H SKUs vs Builders Merchant Building Index 140 120 100 80 60 40 20 0 FY19 Q4 FY20 Q1 FY20 Q2 FY20 Q3 FY
Slide 9: RWC's debt facilities increased in April
RWC’s debt facilities increased in April RWC Debt Facilities Maturity Profile (US$m) ▪ Net debt of $555.2 million at 31 March 2022 up slightly on 31 Dec 2021 reflecting higher accounts receivable balances 500 resulting from growth in sales 450 45 400 ▪ During April, RWC completed a $250 million unse
Slide 10: Outlook for FY22
Outlook for FY22 1 Outlook for RWC’s key markets remains positive from a demand perspective ▪ Demand underpinned by RWC’s core repair and maintenance concentration and augmented by increased expenditure on home remodelling activity and heightened levels of new home construction. ▪ Operating margins