Farm Pride Foods Limited · ASX:FRM
Farm Pride Foods — Shareholder Meeting (October 2014)
31 slides from Farm Pride Foods's shareholder meeting presentation, Oct 21, 2014
Slide 1: 2014 Annual General Meeting
For personal use only Farm Pride id Foods d Limited Li i d 2014 Annual General Meeting
Slide 2: Chairman welcomes you to the Annual General Meeting
For personal use only Peter B P Bellll (Chairman) (Ch i ) welcomes you to our Annual General Meeting of Farm Pride Foods Ltd. Farm Pride Foods Ltd
Slide 3: Farm Pride Foods Limited Board
For personal use only Farm Pride Foods Limited Board Peter Bell Chairman & Non‐executive Director Malcolm Ward Non‐executive Director Bruce De Lacy Interim CEO / Company Secretary/ CFO Farm Pride Foods Ltd
Slide 4: Items of business
For personal use only Items of business • Receive and consider the Financial Report, Directors Report, notes to Financial Statements and Auditors Report for the year ended 30 June 2014. • Re‐election of Mr. Peter Bell as a director of the company. • Election of Mr. Bruce De Lacy as a director of the
Slide 5: Item 1: Financial statements
For personal use only Item 1: Financial statements To consider and receive the Financial Report, Directors Report and Auditors Report for the Company for the year ended 30 June 2014. Farm Pride Foods Ltd
Slide 6: Item 2: Election of directors
For personal use only Item 2: Election of directors 2.1 Peter Bell is to retire by rotation and being eligible, offers himself for re‐election as a director of the Company. For Against Open TOTAL Abstain 37,979,560 92,402 570,379 38,642,341 16,440 98 28 % 98.28 0 24% 0.24% 1 48% 1.48% Farm Pride Foo
Slide 7: Item 2: Election of directors
For personal use only Item 2: Election of directors 2.2 Bruce De Lacy who was appointed to fill a casual vacancy offers himself for re‐election. For Against Open TOTAL Abstain 37,979,560 92,402 570,379 38,642,341 16,440 98.28 % 0.24% 1.48% Farm Pride Foods Ltd
Slide 8: Item 3: Adoption of remuneration report
For personal use only Item 3: Adoption of remuneration report To adopt the Remuneration Report for the Company for the year ended 30 June 2014. For Against Open TOTAL Abstain 7,607,785 235,656 571,379 8,414,820 18,668 90.41 % 2.80% 6.79% Farm Pride Foods Ltd
Slide 9: Interim Chief Executive Officer Update
For personal use only Interim Chief Executive Officer Update Farm Pride Foods Ltd
Slide 10: FY14 overview
For personal use only FY14 overview • Statutory NPAT $2.17million. • Fulfilled commitment to undertake a major review of overhead costs in response to shareholder concerns. • Second review undertaken in Q1FY15. • F th reviews Further i to t be b undertaken d t k between b t Q2FY15 and d Q4FY15. Q4FY
Slide 11: Results FY13 vs. FY14
For personal use only Results FY13 vs. FY14 2013 2014 $’000 $’000 % Profit after income tax 604 2,169 259.1 Current liabilities 32,858 26,575 (19.1) Current assets 24,233 21,296 (12.1) Earnings per share (cents) ( ) 1.09 3.93 260.6 Farm Pride Foods Ltd
Slide 12: Delivering on strategy
For personal use only Deliveringg on strategy gy Year on year: • Borrowings reduced by 19% • EBITDA increased by 24% • Net cash flow provided by operating activities i increased d by b 53% • Further debt reduction and improving profitability now key focus for enhancing shareholder value Farm Pride F
Slide 13: Borrowings - Bank + Lease Finance
For personal use only Borrowings ‐ Bank + Lease Finance Bank + RPL Leases $20.0 $18.0 $16.0 $14.0 $12.0 $11.5 $14.7 on $ Millio $10 0 $10.0 $9.8 $8.0 $6.0 $4.0 $6.1 $2.0 $4.1 $4.4 $0.0 Farm Pride Foods Ltd
Slide 14: Net Tangible Assets and Net Cash Flow from Operating Activities
For personal use only Net Tangible Assets Net Cash Flow from Operating Activities $22.2 $6.0 $22.0 $5.0 $21.8 $21.6 $4.0 Million $ $21.4 Millions $21.2 $22.1 $3.0 M $21.0 $21.9 $4.8 $20.8 $2.0 $20.6 $2.9 $3.1 $20.9 $20.4 $1.0 $20.2 FY12 FY13 FY14 $‐ FY12 FY13 FY14 Farm Pride Foods Ltd
Slide 15: FY14 Performance highlights
For personal use only FY14 Performance highlights • First half loss $52 $52,000. 000 Second half profit $2.224 million. • EBITDA first half $2 $2.415 415 million. million Second half $4.917 million. • Net cash p provided byy operating p g activities first half $2.11 million. Second half $2.65 millio
Slide 16: Shell business
For personal use only Shell business Farm Pride Foods Ltd
Slide 17: Eggs Sold (excluding product egg)
For personal use only Eggs Sold (excluding product egg) 450 400 350 300 Millions 250 Dozens ‐ M 200 150 100 50 0 FY 10 FY 11 FY 12 FY 13 FY 14 Farm Pride Foods Ltd
Slide 18: Eggs sold by category (doz.)
For personal use only Eggs sold by category (doz.) 30,000,000 Cage FR 25,000,000 Barn 20,000,000 15,000,000 10,000,000 5,000,000 ‐ FY 10 FY 11 FY 12 FY 13 FY 14 Farm Pride Foods Ltd
Slide 19: Product business
For personal use only Product business Farm Pride Foods Ltd
Slide 20: Sales of Manufactured Egg Products - kgs
For personal use only Sales of Manufactured Egg Kg Products ‐ kgs 6,000,000 5 000 000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 FY 10 FY 11 FY 12 FY 13 FY 14 Farm Pride Foods Ltd
Slide 21: Manufactured egg products
For personal use only Manufactured egg products • Processes streamlined resulting in • Additional procedures reduced d d volumes l off water used(L/Kg) d(L/K ) i l implemented d to ffurther h reduce d risk of contamination (E.coli). Average Water usage ( L/Kg output) • Installation of controllers on
Slide 22: What's new?
For personal use only What’ss new? What • On‐pack p promotion p to coincide with movie / DVD launch. • Prize supplied by movie house, house creates a lot of consumer interest and point of difference versus other free range brands. Farm Pride Foods Ltd
Slide 23: Walking with Dinosaurs
Walking with Dinosaurs For personal use only Our most recent promotion, with social i l media di activity and happy winners Farm Pride Foods Ltd
Slide 24: Next: The Hobbit - The Battle of Five Armies
Next....... The Hobbit ‐ The Battle of Five Armies For personal use only Thiss p promotion o o o will run u from o Nov o to o Jan a to o celebrate ce eb a e thee Dec 26 release in movies Farm Pride Foods Ltd
Slide 25: Carton Packaging plant
For personal use only Carton Packaging plant has been manufacturing green egg cartons for all our free range egg carton brands. Now manufacturing pink coloured egg cartons for McGrath Foundation “pink” free range and barn laid eggs. Farm Pride Foods Ltd
Slide 26: New range of smaller frozen egg products
For personal use only Due to community concerns about food quality in general, general Farm Pride will shortly launch a range of smaller frozen 950ml egg white, hi egg yolklk andd whole h l egg. Aimed at smaller bakeries bakeries, food service customers and distributors who can’t defrost current 10k
Slide 27: For personal use only
¥ Sugarea eGd yolk FARM | PRIDE Scrambled
Slide 28: Quality assurance
For personal use only Quality assurance • All Farm Pride sites have now achieved annual audit status for SQF 2000 Food Safety Standard. • In the past 12 months improvements made in reducing d i contamination t i ti risk i k in i processing i areas. Including: – Improved sanitation program. – Changes
Slide 29: Health and safety
Health and safety For personal use only • Safety is a priority for our business and improvements to processes and d equipment i t are regularly l l reviewed. • Staff training and focus on health and safety has increased. • New WinOHS software allows us to better report and monitor incidents that hav
Slide 30: Outlook
For personal use only Outlook • Industry conditions weakening reflecting impact of increased egg production. • Average egg prices expected to ease over the next 6 to 8 months. • Continuing to assess opportunities to remove cost and increase profit by better utilising capacities at each site. • Free
Slide 31: Questions? Thank you
For personal use only QUESTIONS ? THANK YOU Farm Pride Foods Ltd
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