Slide 1: ASX cover letter: Half Year Ended 31 December 2011 Investor Presentation
For personal use only 23 February 2012 Manager, Company Announcements, Australian Securities Exchange Limited, Level 4, 20 Bridge Street, Sydney NSW 2000 Half Year Ended 31 December 2011 Investor Presentation Attached is a copy of the Breville Group Limited Investor Presentation for the Half Year En
Slide 2: Breville Group Limited Half Year Results FY12 Investor Presentation
For personal use only Breville Group Limited HALF YEAR RESULTS FY12 INVESTOR PRESENTATION Jack Lord - Acting Chief Executive Officer Mervyn Cohen - Chief Financial Officer February 2012
Slide 3: Group Results Summary
Group Results Summary For personal use only Revenue $233.6m -0.9% – constant currency, excluding exited North American homewares 1H11 +8.1% • EBITDA $45.2m +35.9% – constant currency +42.5% – excluding 1H11 onerous lease expense +17.0% NPAT $29.4m +40.7% EPS 22.6 cents (1H11: 16.1 cents) +40.7% Retu
Slide 4: Financial Results Summary
Financial Results Summary For personal use only Strong earnings growth underpinned by North AUDm 1H12 1H11 % Chng American business Revenue 233.6 235.7 (0.9%) Strategy remains unchanged − Build a sustainable growth platform EBITDA 45.2 33.2 35.9% Investment in Breville brand Product development/inno
Slide 5: Strong EBITDA Growth
Strong EBITDA Growth For personal use only EBITDA (full year) 70,000 60,000 50,000 $000's 40,000 30,000 20,000 10,000 - ^ per mid-point forecast guidance FY08 FY09 FY10 FY11 FY12 31 January 2012 est^ CAGR in EBITDA of 15.4% since 2008 4
Slide 6: Australia
Australia For personal use only AUDm 1H12 1H11 % Chng Revenue 111.8 119.5 (6.4%) EBITDA 14.2 16.6 (14.5%) EBITDA % 12.7% 13.9% EBIT 13.6 15.9 (14.8%) EBIT % 12.2% 13.3% Challenging conditions from 2H11 continued Retailer range rationalisation – house brand/entry level product Successful launch and a
Slide 7: North America
North America For personal use only AUDm 1H12 1H11 % Chng Revenue 86.8 77.5 12.0% Revenue – constant currency, excl NA homewares 44.6% EBITDA 22.8 12.5 82.0% EBITDA % 26.3% 16.2% EBIT 22.5 12.2 84.7% EBIT % 26.0% 15.8% Continued strong revenue and earnings’ growth − Breville new product introduction
Slide 8: International Distributors
International Distributors For personal use only AUDm 1H12 1H11 % Chng Revenue 19.7 25.4 (22.2%) EBITDA 6.0 8.0 (24.1%) EBITDA % 30.7% 31.4% EBIT 6.0 8.0 (24.1%) EBIT % 30.6% 31.4% Revenue reduction against 1H11 as expected − Distributors return to traditional purchasing cycle after 1H11 restocking
Slide 9: New Zealand
New Zealand For personal use only AUDm 1H12 1H11 % Chng Revenue 15.2 13.3 14.6% EBITDA 2.3 1.7 36.8% EBITDA % 15.3% 12.8% EBIT 2.3 1.7 37.1% EBIT % 15.3% 12.8% Strong result in a difficult retail environment Increase in average sell price and margin − Intentional shift in product mix − Increase targ
Slide 10: Financial Position at December
Financial Position at 31 December For personal use only AUDm 1H12 1H11 Strong balance sheet and conservative financial position Inventory 58.8 61.3 − Continued focus on working capital management Receivables 128.6 108.2 − Strong “in cash” position at period end − Gearing nil (1H11: 3.0%) Trade and o
Slide 11: Strategy
Strategy For personal use only Further progress on strategic objectives − Investing in and building the Breville brand globally Leveraging products and capabilities across multiple geographies − Developing the Group into an international small appliance company Increased footprint and distribution i
Slide 12: Global Flagship Product Launches
Global Flagship Product Launches For personal use only The coffee maker with adjustable flavour and strength that brews directly into a cup, travel mug or carafe. For precision extraction and simultaneous steam. Big mouth food processor with finer, more even slicing. Full power. Reduced suction. Sma
Slide 13: Outlook
Outlook For personal use only Trading conditions: − Remain cautious following encouraging overall 1H12 performance − Global uncertainty expected to continue Group well positioned for the future: − Increasing international presence − Solid pipeline of new products − Premium brand positioning − Vigila