Allied Farmers Limited · NZX:ALF
Allied Farmers — Shareholder Meeting (November 2015)
25 slides from Allied Farmers's shareholder meeting presentation, Nov 24, 2015
Slide 1: Allied Farmers Limited Annual General Meeting
Allied Farmers Limited Annual General Meeting Tuesday, 24 November 2015
Slide 2: Welcome & Introduction
la Ne Welcome & Introduction ~\
Slide 3: Annual Financial Statements
Annual Financial Statements
Slide 4: Allied Farmers Limited Income and Expenses
Allied Farmers Limited 2015 2014 $m $m Income 15 16 Expenses 14 15 Taxation .5 - Net Profit 0.7 1
Slide 5: Continuing Divisions
Allied Farmers Limited CONTINUING DIVISIONS 2015 2014 $m $m LIVESTOCK Revenue 14.7 14.9 Pre-Tax Profit 1.5 1.5 INVESTMENTS Revenue 0.2 0.4 Impairments - - Profit (Loss) 0.2 0.3 CORPORATE Income 0.5 0.8 Costs 0.8 1.1 Interest 0.3 0.3 Profit (Loss) (0.6) (0.7)
Slide 6: Group Balance Sheet
Allied Farmers Limited GROUP BALANCE SHEET 2015 2014 $m $m ASSETS Receivables 5 5 Cash 2 3 Fixed Assets 4 4 Other Assets 1 - 12 12 LIABILITIES & EQUITY Crown Asset Management Ltd - 3 Borrowings 6 4 Other incl. Creditors 7 9 Equity - 1* - 4* 12 12 * Does not include assessed value of investment in su
Slide 7: Significant Milestones
Significant Milestones Selldown of NZ Farmers Livestock Bond Issue CAML Debt fully repaid Successful Capital Raising Speirs debt fully repaid Since Balance Date Acquired share in Redshaws Livestock IRD legacy debt fully repaid Agreement to reacquire NZ Farmers Livestock
Slide 8: Current Performance
Current Performance Livestock tracking last year Bobby Calves ahead of last year Small recoveries in AFIL
Slide 9: Allied Farmers - Rural, CEO Steve Morrison
Allied Farmers ‐ Rural CEO ‐ Steve Morrison
Slide 10: Working with Farmers for Farmers
• NZ Farmers Livestock Agency • Redshaw Livestock interest • Farmers Meat Export Ltd • Associated Auctioneers JV interests Working with Farmers for Farmers
Slide 11: Working with Farmers for Farmers
• Experienced team • Adding value for clients ‐ every day • Win‐Win business • Moving with (or ahead of) the times Working with Farmers for Farmers
Slide 12: Last Year & Today
Last Year & Today: • Targeting Growth • 2014/15 EBT 4% down on 2013/14 • Dairy and bobby calf challenges • Budgeting growth • Good YTD performances • Growing bank support • Financially robust
Slide 13: Building teams, agents and networks
• Building teams • Developing new agents • Building networks • Robust contracting arrangements • Updated MyLivestock platform • Refining bobby calf business • Building value • Working with Farmers for Farmers
Slide 14: Meeting all requirements – H&S, Consent, NAIT
• Meeting all requirements – H & S, Consent, NAIT…..
Slide 15: The Future
The Future ‐ Sensible Growth ‐ Market share ‐ MyLivestock leadership ‐ Bottomline performance ‐ A platform and support for wider Allied Farmers progress Working with Farmers for Farmers
Slide 16: Thank you
Thank you
Slide 17: Questions
Questions
Slide 18: Business Resolutions
Business Resolutions
Slide 19: Resolution 1: Re-election of Andrew McDouall
Resolution 1. Re‐election of Andrew McDouall (retiring by rotation)
Slide 20: Resolution 2: Election of Mark Benseman
Resolution 2 Election of Mark Benseman
Slide 21: Resolution 3: Remuneration of Auditors
Resolution 3 Remuneration of Auditors
Slide 22: Resolution 4: Issue of shares to satisfy directors remuneration
Resolution 4 Issue of shares to satisfy directors remuneration
Slide 23: Resolution 5: Approval of purchase of shares in NZ Farmers Livestock Ltd
Resolution 5 Approval of purchase of shares in NZ Farmers Livestock Ltd
Slide 24: Valuation within CM range
Valuation within CM range DCF Method Capitalisation of Earnings Method $700} NZFL Valuation per share $1,200}
Slide 25: General Business
General Business