Breville Group Limited · ASX:BRG
Breville — H1 FY2011 Earnings Presentation
10 slides from Breville's earnings presentation, Feb 23, 2011
Slide 1: ASX cover letter - Half Year Ended 31 December 2010
For personal use only 23 February 2011 Manager, Company Announcements, Australian Securities Exchange Limited, Level 4, 20 Bridge Street, Sydney NSW 2000 Half Year Ended 31 December 2010 Investor Presentation Attached is a copy of Breville Group Limited Investor Presentation for the Half Year Ended
Slide 2: Breville Group Limited Half Year Results FY11 Investor Presentation
For personal use only Breville Group Limited HALF YEAR RESULTS FY11 INVESTOR PRESENTATION Stephen Audsley - Chief Executive Officer Mervyn Cohen - Chief Financial Officer February 2011
Slide 3: Results Summary
Results Summary For personal use only Group Sales $259.8m +9.7% Group Underlying* EBITDA $39.4m +21.3% Group Underlying* PAT $25.1m +27.0% Group Reported PAT $20.9m +36.1% Underlying* EPS 19.3 cents (1H10: 15.2 cents) DPS: 9.5 cents [4.0 cents franked] (1H10 : 6.0 cents unfranked) Strong financial p
Slide 4: Financial Results Summary
Financial Results Summary For personal use only REPORTED UNDERLYING* A$ Million 1H11 1H10 % Chng 1H11 1H10 % Chng Group Sales Revenue 259.8 236.9 9.7% 259.8 236.9 9.7% EBITDA 33.2 25.6 29.6% 39.4 32.5 21.3% EBIT 29.9 22.2 34.7% 36.1 29.0 24.2% PAT 20.9 15.3 36.1% 25.1 19.7 27.0% Basic EPS (cents) 16
Slide 5: Geographic Diversity
Geographic Diversity For personal use only Group’s strategic focus re-affirmed: continued investment in design and innovation and ongoing development of markets globally Australia: solid performance − Slightly lower sales than pcp – weaker consumer spending, reduced demand − Margins maintained – imp
Slide 6: Australia
Australia For personal use only REPORTED UNDERLYING* A$ Million 1H11 1H10 % Chng 1H11 1H10 % Chng Sales 119.5 121.6 (1.7%) 119.5 121.6 (1.7%) EBITDA 16.6 16.4 1.2% 17.4 16.3 6.9% EBITDA % 13.9% 13.5% 14.6% 13.4% Growth in EBITDA despite slight decrease in sales revenue Evidence of deflationary retai
Slide 7: International
International REPORTED UNDERLYING* For personal use only A$ Million 1H11 1H10 % Chng 1H11 1H10 % Chng Sales 140.3 115.3 21.7% 140.3 115.3 21.7% EBITDA 22.2 16.0 39.0% 22.3 16.3 36.8% EBITDA % 15.8% 13.9% 15.9% 14.1% North America: − Pleasing EBITDA improvement flowing from: − Continued strengthening
Slide 8: Financial Position at December
For personal use only Financial Position at 31 December A$ Million 1H11 1H10 Inventory 61.3 66.2 Receivables 107.1 89.2 Trade and other payables (65.1) (56.2) Working Capital 103.3 99.2 Fixed assets 6.3 7.5 Intangibles 68.8 67.7 Other (liabilities)/assets (net) (17.1) (6.1) NET ASSETS EMPLOYED 161.3
Slide 9: Strategy
Strategy For personal use only Good progress on the achievement of stated objectives: − Strengthening the Breville brand internationally − Tight working capital management − Expanded distribution footprint and product range in North America − Strong financial position – conservative balance sheet, e
Slide 10: Outlook
Outlook For personal use only Economic conditions: − Continue to remain challenging − Subdued consumer confidence, volatile and competitive market place − Deflationary retail price pressures – Australia − Product costs increases China − Foreign exchange volatility Encouraging 1H11: − Cautious outloo