Vulcan Steel Ltd. · ASX:VSL
Vulcan Steel — Shareholder Meeting (October 2022)
27 slides from Vulcan Steel's shareholder meeting presentation, Oct 20, 2022
Slide 1: Annual Meeting of Shareholders 20 October 2022
ANNUAL MEETING OF SHAREHOLDERS 20 OCTOBER 2022
Slide 2: Welcome
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Welcome Our ambition is driven by our unparalleled dedication to continuous improvement. These past two years have demonstrated how our willingness to capitalise on opportunities and take considered risks over time, reaps rewards. We are always lo
Slide 3: Agenda
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 01 Short video 02 Chair Address 03 Managing Director and Chief Executive Officer Address Agenda 04 Q&A 05 Resolutions for approval 06 Voting 07 General Business 3
Slide 4: Voting & Asking Questions
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Voting & Asking Questions Link Market Services helpdesk New Zealand – 0800 200 220 Australia – 1800 990 363 4
Slide 5: Your Board of Directors
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Your Board of Directors Russell Chenu Rhys Jones Peter Wells Pip Greenwood CHAIR AND INDEPENDENT MANAGING DIRECTOR AND NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR CHIEF EXECUTIVE OFFICER Carolyn Steele Bart de
Slide 6: Your Leadership Team
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Your Leadership Team Russell Chenu Kar Yue Yeo Adrian Casey James Wells Sarah-Jane Lawson MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER CHIEF OPERATING OFFICER CHIEF INFORMATION OFFICER COMPANY SECRETARY CHIEF EXECUTIVE OFFICER Helene Deschamps Br
Slide 7: Video: Working at Vulcan
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 01 Video Working at Vulcan 7
Slide 8: Agenda
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 01 Short video 02 Chair Address 03 Managing Director and Chief Executive Officer Address Agenda 04 Q&A 05 Resolutions for approval 06 Voting 07 General Business 8
Slide 9: Chair Address
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 02 Chair Address Russell Chenu 9
Slide 10: Chair Address
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Chair Address • Completed our public listing with an initial market capitalisation of almost NZ$1 billion • A Record Result in FY22 • FY22 Dividend: NZ$0.65 per share • Further executed on our growth strategy with the completion of Ullrich Alumini
Slide 11: FY22 Dividend Yield based on IPO Price
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO FY22 Dividend Yield based on IPO Price • Vulcan’s annual dividend is based Per share (excluding franking and imputation) NZ$ A$ AUD/NZD rate on a current target payout ratio of Interim 0.2750 0.2567 1.071352 60-80% on statutory net profit after Fi
Slide 12: Vulcan's Share Price Performance
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Vulcan’s Share Price Performance • VSL share price: +31% vs Peer & +11% vs S&P/ASX 300 since IPO • VSL share price: +22% vs NZX 50 Gross Index since IPO S&P/ASX 300 INDEX, VSL & PEERS PERFORMANCE 1 S&P/NZX 50 GROSS INDEX & VSL.NZ SHARE PRICE PERFO
Slide 13: MD & CEO Address
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 03 MD & CEO Address Rhys Jones 13
Slide 14: Record Results in FY22
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Record Results in FY22 REVENUE AT ALMOST ADJUSTED EBITDA 1 ADJUSTED NPAT 2 NZ$1bn NZ$243m NZ$142m up 33% from FY21 up $110m from FY21 up $77m from FY21 ROCE 3 OF DEBT COVER 4 CASH CONVERSION 5 37% 1.4x 85% up 13% from FY21 Adjusted for Ullrich acq
Slide 15: Our new Aluminium Business
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Our new Aluminium Business • Aluminium is a segment identified on our roadmap for growth • Our acquisition of Ullrich Aluminium business across Australia and New Zealand provides a strong foundation for further earnings growth and shareholder valu
Slide 16: Reaffirming Guidance
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Reaffirming Guidance • Overall 1Q FY23 trading outcome is consistent with our expectation and guidance • Expect the conditions experienced in 1Q FY23 to continue due to the impact of rising interest rates on general economic activity following a r
Slide 17: Q&A
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 04 Q&A 17
Slide 18: Resolutions for approval
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 05 Resolutions for approval 18
Slide 19: Resolution 1 - Auditor's remuneration
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 1 - Auditor’s remuneration • That the directors of Vulcan are authorised to fix the fees and expenses of Deloitte Limited (New Zealand), as Vulcan’s auditor, for the financial year ending 30 June 2023 • Proxies received: For - 45,944,85
Slide 20: Resolution 2 - Election of Adrian Casey
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 2 - Election of Adrian Casey • That Adrian Casey, who was appointed as a director of Vulcan by the Board on September 2022, be elected as a director of Vulcan • Proxies received: For - 40,091,361 shares (30.5089%) Open/Undirected - 14,3
Slide 21: Resolution 3 - Re-election of Wayne Boyd
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 3 - Re-election of Wayne Boyd • That Wayne Boyd, who retires as a director of Vulcan by rotation and is eligible for re-election, is re-elected as a director of Vulcan • Proxies received: For - 39,993,110 shares (30.4342%) Open/Undirect
Slide 22: Resolution 4 - Re-election of Russell Chenu
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 4 - Re-election of Russell Chenu • That Russell Chenu, who retires as a director of Vulcan by rotation and is eligible for re-election, is re-elected as a director of Vulcan • Proxies received: For - 45,831,937 shares (34.8774%) Open/Un
Slide 23: Resolution 5 - Grant of performance rights to the MD and CEO
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 5 – Grant of performance rights to the MD and CEO • That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, the issue of 221,799 Performance Rights to Vulcan’s Managing Director and Chief Executive Officer, Rhys Jon
Slide 24: Resolution 6 - Grant of performance rights to the COO
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 6 – Grant of performance rights to the COO and executive director • That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, the issue of 55,309 Performance Rights to Vulcan’s Chief Operating Officer and Executive Di
Slide 25: Voting
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 06 Voting 25
Slide 26: General Business
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 07 General Business 26
Slide 27: Thank-you for joining us.
Thank-you for joining us. VULCAN.CO