Avon Technologies Plc · LSE:AVON
Avon Technologies — Avon Rubber p.l.c. — FY2013 Earnings Presentation
28 slides from Avon Technologies's earnings presentation
Slide 1: 2013
2013 1
Slide 2: Peter Slabbert, Chief Executive
Peter Slabbert Chief Executive Ue Avon Dairy Solutions/Milkrite locati SS Avon Protection locations Aven BR Avon Rubber p.l.c.
Slide 3: H2 H1 2008 2009 2010 2011 2012 2013 20
140 120 100 80 H2 60 H1 40 20 0 2008 2009 2010 2011 2012 2013 20 15 10 H2 5 H1 0 -5 2008 2009 2010 2011 2012 2013 -10 40 30 20 H2 10 H1 0 2008 2009 2010 2011 2012 2013 -10 3
Slide 4: Strong growth in revenue and earnings in the first half
Strong growth in revenue and Zarnings in the first half Identifying and generating More opportunities H2 2013 cus protection & Defence » JSAM Fusion delivery Daily ster exchange » Cu BRIC expansion ya
Slide 5: Andrew Lewis, Group Finance Director
Andrew Lewis Group Finance Director Ue Avon Dairy Solutions/Milkrite locati SS Avon Protection locations Aven BR Avon Rubber p.l.c.
Slide 6: Revenue up 17%
2013 2012 £'m £m Revenue t 17% 124.9 106.6 EBITDA B 22% 20.0 16.4 Depreciation and amortisation (5.8) (4.8) Operating profit before amortisation of acquired intangibles and exceptional items t 22% 14.2 11.6 Amortisation of acquired intangibles and exceptional items (0.8) - Operating Profit 13.4 11.6
Slide 7: Performance drivers
100 80 60 H2 40 20 H1 0 2009 2010 2011 2012 2013 Operating Profit £’m Performance drivers 15 10 H2 5 H1 0 2009 2010 2011 2012 2013 7
Slide 8: Protection & Defence revenue by market
EMEA/NA LE DOD masks and filters Fire AEF/DOD Spares 8
Slide 9: Total Service Requirement
3000 2500 1,200,000 Total Service Requirement 2000 1,000,000 800,000 1500 600,000 1000 400,000 500 200,000 0 - 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 9
Slide 10: Dairy Financials
Financials Revenue £’m 40 2013 2012 £'m £'m 30 ee ee | H2 Revenue 31.7 32.1 10 | LIH1 EBITDA 5.8 6.5 0 Operating profit 5.2 6.0 2009 2010 2011 2012 2013 Operating profit £'m Performance drivers 8 6 = ImpulseAir liner reached 19% market share in US 4 — | F HO = Lower milk prices and higher feed costs
Slide 11: Exchange rate $1.56 (2012: $1.58)
2013 rate $1.56 (2012: $1.58) 11
Slide 12: Cashflow
Cashflow 2012 £m Cash generated from operations 14.7 Tax (0.3) Interest (0.3) Payments to pension scheme op (0.6) Capital expenditure c ° (9.5) Acquisition of VR Technology Holdings - Purchase of own shares (0.3) Dividends to shareholders (0.9) Exchange and other 0.3 Movement in net debt 3.1 Opening
Slide 13: Summary balance sheet
Summary balance sheet 2012 £'m Intangible assets 13.3 Property, plant and equipment 17.8 Current assets 30.2 Current liabilities (21.5) Non-current liabilities (5.0) 34.8 Net debt (8.7) 26.1 Retirement benefit scheme (2.2) Net assets 23.9 B Aven y || delivering our strategy Avon Rubber p.l.c.
Slide 14: IAS19 2013
IAS19 2013 = Accounting deficit moved from £2.2m at 30 Sept 2012 to £11.3m at 30 Sept 2013 = Income statement shows a £0.1m credit (2012: £0.2m charge) reflecting the lower AA corporate bond rate at 30 September 2012 compared to 2011 = Strong asset performance in the return seeking asset classes, bu
Slide 15: Peter Slabbert, Chief Executive
Peter Slabbert Chief Executive Ue Avon Dairy Solutions/Milkrite locati SS Avon Protection locations Aven BR Avon Rubber p.l.c.
Slide 16: Protection & Defence roadmap
Protection & Defence roadmap Manufacturing Technolo Excellence gy DOD Global military Aerospace Fire Industrial = JSGPM M50/M61 and first = JSAM = Deltair SCBA (Mining, Oil, Gas, = JSAM MM53 responder Underwater applications = TIC Medical) " Special forces M53 markets = VR rebreather technology = Re
Slide 17: Protection & Defence innovation
Protection & Defence innovation Product Strategy Delivers: ee % Unique modular approach to respiratory protection Multi-community interaction through common Avon products es ve) Total market coverage for all Fire, Military and First Responder communities FUSION Filter Products FM54 & Law Enforcement
Slide 18: Protection & Defence outlook
Protection & Defence outlook Market environment Growth drivers > a ee DOD * Budget uncertainty - = Personal-protection remains a priority sequestration = Funding line for JSGPM project still increasing = JSAM new programme start = EEBD and other respiratory protection opportunities EMEA = Budget pre
Slide 19: Dairy roadmap
Dairy roadmap Manufacturing Excellence v/ \® Expansion into Brand Technology Technology and Own brand milkrite developing markets margin enhancements growth in Europe " China (duster in mature US markets . exchange service South America = India e w:.. milkrite 99 delivering our strategy ©) tell He d
Slide 20: China EU NA
China 4% EU 25% NA 71% 20
Slide 21: Market share, Revenue by product
EU US 25% EU NA China 71% Market share Revenue by product US EU 21
Slide 22: Protection — other technologies / opportunities
Protection — other technologies / opportun Respatly and PPE markets Full body protection ll avon Protection Systems is a customer-driven world leader of Training aya through- advanced CBRN/respiratory | POET, Coen protection systems delivering quality, reliability, performance and value to military
Slide 23: Dairy - other technologies/opportunities
Dairy - other technologies/opportunities Sensor technology and telemetry 4 r4 Milkrite is a market-leading brand of innovative high technology consumable products supplying the growing dairy industry around the globe 99 Vacuum pumps Pulsators e 1 oe 23 milkritc 9s delivering our strategy ED) foal He
Slide 24: We expect to make further progress in both our divisions
We expect to make further progress in both our Protection & Defence and Dairy divisions in 2014 as our clear strategic direction takes further effect. In our global Protection & Defence business, we are the technology leader and we are continuing to invest in people and products to maintain and impr
Slide 25: We have been successful in 2013, delivering growth
We have been successful in 2013, delivering growth in revenue and earnings. 2014 focus:- Protection & Defence Fusion JSAM Fire Commercial activities eS
Slide 26: Reconciliation to non-adjusted measures
Reconciliation to non-adjusted measures Group EBITDA (£m) Group Operating profit (£m) Group Profit before taxation (£m) Group Profit for the year (£m) Basic Earnings per Share (pence) Diluted Earnings per Share (pence) Protection & Defence EBITDA (£m) Protection & Defence Operating profit (£m) ry EB
Slide 27: Cautionary statement
Avon Rubber p.l.c. (the ‘Group’ is providing the following cautionary statement. This document contains certain statements that are or may be forward-looking with respect to the financial condition, results or operations and business of the Group. These statements are sometimes, but not always, iden
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