Clover Corporation Limited · ASX:CLV
Clover — Shareholder Meeting (November 2019)
15 slides from Clover's shareholder meeting presentation, Nov 22, 2019
Slide 1: Chairman's Report – 2019 AGM
CLOVER CORPORATION LIMITED ABN 85 003 622 866 CHAIRMAN’S REPORT – 2019 AGM For personal use only Clover Corporation Limited (Clover) reported a statutory net profit after tax (NPAT) for the 12 months ended 31 July 2019 (FY19) of $10.1m, an increase of 33.1% over the prior year. Revenue for FY19 grew
Slide 2: Chairman's Report (continued)
The Company has maintained its strong infant formula market position in Australia & New Zealand in FY19, with some additional initial sales in the functional foods market. Clover has made a significant investment in Melody Dairies, New Zealand, which is in the process of building a spray drying faci
Slide 3: Managing Director's Report 12 Months to 31 July 2019
For personal use only Managing Director’s Report 12 Months to 31 July 2019 22 November 2019
Slide 4: Vision and Mission Statement
For personal use only Vision and Mission Statement Vision To optimise the health and development of adults, infants and children. Mission To deliver science based bioactives which provide health benefits to adults, infants and children. 1
Slide 5: Full Year Performance Highlights
Full Year Performance Highlights For personal use only Total full year Revenue New products delivering $76.7m up 22% growth in new segments and countries on FY18 $62.9m driven by improved demand Inventory at $27.7m up $7.9m on FY18 full year Net Profit $10.1m up 33.1% on FY18 EBITDA covers net
Slide 6: Full Year 2019 Results
For personal use only Full Year 2019 Results AUD million 4E Reported 4E Reported 22% year on year revenue 31 Jul 2019 31 Jul 2018 growth Revenue $76.7 $62.9 High growth rates in Asia, EU EBITDA $14.0 $10.9 & USA, whilst Australia/NZ still key sales region NPBT $14.0 $10.6 Tax ($3.9) ($3.0) EBI
Slide 7: Balance Sheet July 2019
Balance Sheet 31 July 2019 For personal use only AUD million Reported Reported Movement 31 Jul 2019 31 Jul 2018 Cash $8.3 $7.9 +$0.4m Net debt of $5.2m as compared to Trade Receivables $18.4 $15.3 +$3.1m EBITDA of $14.0m Inventories $27.7 $19.8 +$7.9m Trade receivables Total Current $55.4 $43.6
Slide 8: Sales by Geography & Product
Sales by Geography & Product For personal use only Sales across all key regions have grown during FY19 compared to FY18 Asia key growth area for IF for the Chinese market, whilst USA growth in non IF sector FY 2019 Product FY 2018 Product Other Products, 30% Tuna Powder, 70% Encapsulated Tuna
Slide 9: An Update on Growth Platforms
For personal use only An Update on Growth Platforms Focus on Infant Formula New New Product Market Development Development 7
Slide 10: Growth Platform: New products driving future growth
For personal use only Growth Platform New products driving future growth Clover’s new products have won new business in food fortification across different segments The highly concentrated DHA powder delivering a 60% oil loading is used across health bars, powders and gummies Clover has releas
Slide 11: Growth Platform: Infant formula maintains growth
Focus on Infant For personal use only Formula Growth Platform Infant formula maintains growth China adds 22 Bonded warehouses to facilitate CBEC (Cross Boarder Electronic Commerce) trade Awarding of SAMR licenses to market and sell product in China’s retail channel remains slow China has relea
Slide 12: Growth Platform: New markets development
For personal use only Growth Platform New markets development Clover has grown sales in USA, Europe, Asia and ANZ The USA has delivered sales growth across food, drink and nutraceutical applications Clover has sales staff across Europe, China, New Zealand and dedicated staff for SE Asia and Au
Slide 13: Update on Melody Dairies investment
Update on Melody Dairies investment For personal use only Background Melody Dairies is a separate company that is building and will operate a nutritional spray dryer in Hamilton, New Zealand (NZ) of which Clover is a shareholder and customer Status The build is on plan with access for qualificat
Slide 14: 1HFY20 Outlook & Priorities
1HFY20 Outlook & Priorities For personal use only Growth in European and China markets driven by the requirement to increase DHA levels in infant formula, with the potential for volatility as a result of movements in customers’ supply pipelines and regulatory change Build completion of spray dry
Slide 15: Disclaimer
For personal use only Disclaimer The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe s