Slide 1: Full Year Result — June 2005
FULL YEAR RESULT — JUNE 2005 David Allman Managing Director
Slide 2: Profit & Loss
PROFIT & LOSS A$ Millions June 05 June 04 Consumer Products EBITA 37.5 26.3 Printing EBITA 6.8 12.2 Corporate, etc. (3.3) (3.1) Group EBITA 41.0 35.3 Net Interest (10.6) (7.6) NPBT 30.4 27.8 + 9% NPAT 22.8 2114 + 8% EPS (cents) 38.8 38.0 + 2% DPS (cents) 22.0 19.0 + 16% Note: Earnings figures are be
Slide 3: Balance Sheet at 30 June 2005
BALANCE SHEET AT 30* JUNE 2005 $ A Millions June 05 June 04 Fixed Assets (including intangibles) 213.2 138.8 Net Working Capital 79.7 66.5 Other (24.4) (18.1) Funds Employed 268.5 187.2 Shareholders’ Funds 128.0 107.5 Net Debt 140.5 79.7 Funds Employed — Consumer Products 229.5 150.2 Funds Employed
Slide 4: EBITA ($A Millions)
CONSUMER PRODUCTS EBITA ($A Millions) Continuing businesses Discontinued businesses Multix and Accantia June 05 26.0 June 04 19.7 6.6 Synergies, New Zealand lower restructure expense. Garment hanger supply, UK royalties. Better than expected.
Slide 5: Commentary on 2004/05
CONSUMER PRODUCTS - COMMENTARY ON 2004/05 CONTINUING BUSINESSES Australia ® Tough second half, particularly Housewares. # Small revenue growth over prior year (like-for-like sales to retailers). ® EBITA growth due to synergies and lower restructure expense. e Private label and direct sourcing by ret
Slide 6: Commentary on 2004/05 (continued)
CONSUMER PRODUCTS - COMMENTARY ON 2004/05 (continued) MULTIX AND ACCANTIA Accantia e Management functions integrated. ¢ Production closed / sourced product. Multix e Production closed / sourced product. ¢ Integrate functions, where appropriate.
Slide 7: Operational Objectives for 2005/06
CONSUMER PRODUCTS —- OPERATIONAL OBJECTIVES FOR 2005/06 AUSTRALIA * Continued operational improvement at Kingsgrove / closure of packaging. New opportunities. Expense reduction. Inventory reduction. Further integration. Rationalise warehousing and distribution. NEW ZEALAND ® Site consolidation ~ exp
Slide 8: Printing Objectives
PRINTING OBJECTIVES ¢ Completion of capital expenditure programme and restructure. e Realise financial benefits in second half.
Slide 9: Ongoing Financial Objectives
ONGOING FINANCIAL OBJECTIVES ® 20% per annum net return (before amortisation) on shareholders’ funds. ® Pre-tax cash flow > pre-tax (and amortisation) profit. ® EPS growth through acquisitions which produce rationalisation benefits and improve competitive position.
Slide 10: Results
RESULTS 2004/05 1. ROSF 19% 2. Cash Flow / Profit + 1% 3. EPS Growth * + 2% CPS Acquisition July 1999 Crown Acquisition Feb 2000 APG Acquisition May 2001 Cork Acquisition July 2003 Multix Acquisition Oct 2004 Accantia Acquisition Oct 2004 Directory Printing Divestment Oct 2004 * Based on pre-tax ear
Slide 11: Business Strategy
BUSINESS STRATEGY Consumer Products Expand into compatible businesses. Brands. Focus on margins. Integration of functions, where appropriate: - - Sourcing - Logistics - Sales and marketing Printing e Book and book type products. * Core customer relationships. e Re-equipment programme.