Select Harvests Limited · ASX:SHV
Select Harvests — Shareholder Meeting (February 2019)
37 slides from Select Harvests's shareholder meeting presentation, Feb 22, 2019
Slide 1: Select Harvests Limited (ASX:SHV)
Select Harvests Limited (ASX:SHV) 2018 Transition Period Annual General Meeting 22 February 2019
Slide 2: Disclaimer & Basis of Preparation
Disclaimer & Basis of Preparation This presentation is provided for information purposes only and has been prepared using information provided by the company. The information contained in this presentation is not intended to be relied upon as advice to investors and does not take into account the in
Slide 3: Michael Iwaniw, Chairman
Z SELECT HARVESTS Michael Ilwaniw Chairman ) NuVitality.
Slide 4: Agenda
Agenda ▪ Chairman’s Address ▪ Managing Director’s Address ▪ AGM Resolutions 4
Slide 5: Select Harvests Board
Select Harvests Board ■ Michael Iwaniw, Chairman, Appointed Chairman November 2011* ■ Michael Carroll, Non-Executive Director, Appointed March 2009 ■ Fred Grimwade, Non-Executive Director, Appointed July 2010 ■ Nicki Anderson, Non-Executive Director, Appointed January 2016* ■ Fiona Bennett, Non-Exec
Slide 6: Change to Financial Year End – Transition Period Rationale
Change to Financial Year End – Transition Period Rationale Estimated Horticultural Cycle and New Reporting Timeframes New FY18/19 FY19/20 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Growing cycle Pollination Harvest Processing % of Crop Sold 20%
Slide 7: Transition Period NPAT Result
Transition Period NPAT Result No 2019 Crop profit has been recognised during the Transition Period: - All 2018 crop profit recognised in FY 30 June 2018 (1,578) - At point of preparing TP accounts the fair value # (1.53) of the crop cannot be reliably estimated - Full 2019 crop profit recognised dur
Slide 8: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Balance Sheet Comparative Cashflow Jun-17 Jun-18 Sep-18 Full Year Three Months $M $M $M Jun-17 Jun-18 Sep-17 # Sep-18 Current Assets (exc. Cash) 135.4 161.7 152.8 $M $M $M $M Cash 1.1 0.4 6.9 Cashflow from Operations 4.7 18.3 23.8 24.9 Non-Current Assets 343.1 354.4 362.9
Slide 9: Safety, Environment, People and Culture
Safety, Environment, People and Culture Safety ▪ SHV’s Zero Harm Safety and Wellbeing Strategy focus is to: - Prevent injury before it occurs - Improve our safety performance & individual wellbeing ▪ Driver Risk Awareness Training has been delivered by Rural Ambulance Victoria across the Almond Divi
Slide 10: Opportunities and Challenges
Opportunities and Challenges ■ Greenfield Development Program Investments - Significant investment in recent years e.g. Bunargool at Euston, NSW (high yielding, large scale, preferred varieties, higher density plantings, state of the art irrigation infrastructure – low friction pumps, saving water a
Slide 11: Staff Video
Staff Video Press CTRL right click on the link below to get the video to appear – then press play https://vimeo.com/318109909 11
Slide 12: Paul Thompson
Paul Thompson Managing Director
Slide 13: Plant-Based Foods - Driving Increased Demand Growth
Plant-Based Foods - Driving Increased Demand Growth ■ Key Food Trends - Alternative proteins* and flexitarian diets were named key food trends in 2017 and 2018 by industry commentators including Rabobank, Forbes, Mintel, Innova Market Insights and MarketWatch ■ Australia - 28% of Asian born Australi
Slide 14: Strategy
Strategy Vision To be a Leader in the Supply of Better for You Plant Based Foods Trust & Respect Integrity & Diversity Sustainability Performance Innovation Values Treat all stakeholders with trust and respect All decisions and transactions will not compromise the Our focus is on the long-term susta
Slide 15: 2019 Crop & Harvest Update
2019 Crop & Harvest Update ▪ Growing Conditions - Growing season for the 2019 crop has been very favourable ▪ Presence of frost and heat events - our investment in frost fans and water management systems has mitigated these events ▪ Orchard Health - Orchard specific horticultural programs have led t
Slide 16: Orchard Video
Orchard Video Press CTRL right click on the link below to get the video to appear – then press play https://www.dropbox.com/s/sa29eqxokvjmef3/ABA%20-%20Select%20Harvest.m4v?dl=0 16
Slide 17: Almond Division Update
Almond Division Update ̶ Demand/Marketing - Seeing continued strong demand for our almonds, with our marketing focussed on Asia ̶ FY2019 Volume - 1,000 HA (2,470 acres) of greenfield orchards will be harvested for the first time. ̶ Water - The recent movement in water pricing has been significant. O
Slide 18: Food Division Update
Food Division Update ■ Industrial - Strong Sales - Industrial Segment of the Food Division continues to see strong demand in both domestic and export markets - Industrial sales continue to grow with additional relationships developing in the important Chinese market - Parboil efficiency continues to
Slide 19: Key Take Outs
Key Take Outs 1. Zero Harm - Number One Priority 2. Fundamentals of the business & industry remain strong - Global consumption of plant protein & almonds forecast to grow at 6-8% per annum 3. Almond strategy is in place with annual crop increases to be delivered through maturing greenfield orchards
Slide 20: Annual General Meeting February 2019
Annual General Meeting 22 February 2019 Consideration of The Financial Statements & Reports 20
Slide 21: Resolution #1: Remuneration Report
Resolution #1: Remuneration Report 21
Slide 22: Resolution #1: Remuneration Report
Resolution #1: Remuneration Report For: Against: Open-Usable: 22
Slide 23: Resolution #2(a): Election of Michael Iwaniw
Resolution #2(a): Election of Michael Iwaniw 23
Slide 24: Resolution #2(a): Election of Michael Iwaniw
Resolution #2(a): Election of Michael Iwaniw For: Against: Open-Usable: 24
Slide 25: Resolution #2(b): Election of Nicki Anderson
Resolution #2(b): Election of Nicki Anderson 25
Slide 26: Resolution #2(b): Election of Nicki Anderson
Resolution #2(b): Election of Nicki Anderson For: Against: Open-Usable: 26
Slide 27: Resolution #3: Approval of Issue of Awards Under Long Term Incentive Scheme
Resolution #3: Approval of Issue of Awards Under Long Term Incentive Scheme 27
Slide 28: Resolution #4: Approval of Amendment of Terms of Existing Awards
Resolution #4: Approval of Amendment of Terms of Existing Awards Under Long Term Incentive Plan 28
Slide 29: Resolution #5 (a): Managing Director Participation in Long Term Incentive Plan
Resolution #5 (a): Remuneration Arrangements for the Managing Director – Participation by the Managing Director in the Long Term Incentive Plan 29
Slide 30: Resolution #5 (b): Approval of Termination Benefits for Managing Director
Resolution #5 (b): Remuneration Arrangements for the Managing Director – Approval of Termination Benefits for Managing Director 30
Slide 31: Discussion
A SELECT HARVESTS Discussion GG Si Sate ’ NuVitality. SS alt GD 31
Slide 32: Thank you
Thank you Please direct any queries to: Paul Thompson Brad Crump Andrew Angus Managing Director Chief Financial Officer Investor Relations +61 3 9474 3544 +61 3 9474 3544 +61 402 823 757 Please note that background material/data regarding the global almond industry can be found on the Select Harvest
Slide 33: Select Harvests - Financial History
Select Harvests - Financial History 2006 2007 2008 2009 2010 2011 2012 2013 2014* 2015 2016 2017 2018 SHV Historical Summary Units Total Revenue (A$M) 218.0 229.8 224.8 248.7 239.1 250.0 251.3 191.1 188.3 223.6 286.2 242.1 210.2 EBIT (A$M) 38.4 40.5 27.1 26.8 26.0 22.6 19.6 37.7 31.3 89.6 41.3 17.0
Slide 34: Useful Almond Industry websites
Useful Almond Industry websites Industry Associations ▪ Californian Almond Board www.almondboard.com ▪ Almond Board of Australia www.australianalmonds.com.au ▪ Nuts for Life www.nutsforlife.com.au ▪ Nuts for Life – Almond Health Facts www.nutsforlife.com.au/nut-fact-sheets/almondhealthfacts/ Industr
Slide 35: Almonds – Key Health Facts
Almonds – Key Health Facts Source: Nuts For Life - Almond Fact Sheet - available at the link below: https://www.nutsforlife.com.au/nut-fact-sheets/almondhealthfacts/ 35
Slide 36: EBIT Sensitivity
EBIT Sensitivity Impact on EBIT ($m) Volume +/-500 tonnes +/- A $2.0M Almond Price (A$/kg) +/- A$0.10/kg +/- A $1.8M Exchange Rate -/+ 1 cent movement in AUD/USD cross rate +/- A $2.0M Growing and Processing Cost -/+ 10% +/- A$ 5.5M Source: Nuts For Life Demand is growing for plant based foods that
Slide 37: Thank you
Thank you Please direct any queries to: Paul Thompson Brad Crump Andrew Angus Managing Director Chief Financial Officer Investor Relations and Company Secretary +61 3 9474 3544 +61 3 9474 3544 +61 402 823 757 Please note that background material/data regarding the global almond industry can be found
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