Slide 1: ASX cover letter: Annual Results - Slide Presentation
Angell Limited Ansell AB.N. 89 004 085 330 esti tt Level 3, 678 Victoria Street Richmond, Victoria 3121, Australia GPO Box 772H Melbourne Victoria 3001, Australia Telephone (+613) 9270 7270 Facsimile (+612) 9270 7306 www. ansell. com 14 August 2003. Company Announcements Office Australian Stock Exch
Slide 2: Announcement of Results Year Ended 30th June 2003
Ansell Limited Announcement of Results Year Ended 30th June 2003 Harry Boon -— Chief Executive Officer
Slide 3: Our Business In FY03
Our Business In FY03 Revenue = US$759 M Occupational 48% y Barrier Protection Medical 35% For Professional 7 Injury Worker Protect Against Consumer Ny, ; Infection Patient — > Contamination Consumer 17%
Slide 4: FY03 Financial Results
FY03 Financial Results 30/6/02 30/6/03 US$ M US$ M Change Sales - Healthcare Segment 738.5 758.7 42.7% EBITA * Healthcare Segment 84.7 93.6 +10.5% * Continuing Business 70.2 80.5 +14.7% Attributable Income (60.5) 29.3 Earnings Per Share US ¢ (32.3) 15.7* A 1. 26.7 * * Excluding Ambri write-down, EPS
Slide 5: Double-digit Healthcare Segment US$ EBITA growth
Double-digit Healthcare Segment US$ EBITA growth Operation Full Potential Wave 1 completed and Wave Il begun New management team Operations: - Improved productivity at 6 plants - World class Safety record Benefits of weaker US$ Share buy back Dividend payment Operations:- * Massillon transfer to Sha
Slide 6: Occupational Division
Occupational Division 48% of Operation Revenue and 39% of EBITA Sales HyFlex™ : : Growing demand - 4 new variants launched Chemical Resistant . . Volume growth-Asia Pacific +22%, Europe +10% Knitted : : Lower volumes, but richer margin mix All Other . . Broad based gains in each region Total Sales E
Slide 7: Professional Division
Surgeons: Powder Free Powdered Synthetic Powder Free Powdered Synthetic Latex Other Total Sales EBITA ~ Segment EBITA — Margin Strategy: * Hospital Exam Gioves Professional Division 35% of Operation Revenue and 34% of EBITA F’02 62.6 85.0 12.0 72.7 19.5 23.3 10.5 285.6 48.4 17.0% F'03 61.0 76.2 12.0
Slide 8: Consumer Division
Consumer Division 17% of Operation Revenue and 27% of EBITA F’02 F’03 Condoms: Branded Retail 62.0 66.0 Bid/Public Sector 26.6 30.1 HHG & Other 30.0 30.6 Total Sales 118.6 126.7 EBITA — Segment 17.0 25.1 EBITA — Margin 14.3% 19.8% Growth-Europe, Asia Pacific Global Tenders (HIV/AIDS Funding) Househo
Slide 9: A Global Leader
A Global Leader Estimated global market size and positions Surgical Gloves Market: ~US$0.6B = 2003 #1 Ansell ~ 25% #2 SSL ~23% « Exam Gloves (Excluding Occupational) Market: ~US$1.0B = 2003 #1 Safeskin ~19% #2 Ansell ~11% Source: Neilson, IMS, and internal estimates Occupational Gloves (Synthetics)
Slide 10: Meeting Market Commitments
Meeting Market Commitments Healthcare Segment EBITA US$ M Committed Actual Growth F°02 >77 85 Y = +10% F’03 94 Y +11% F’04 F’05 * * + 50% EBITA vs. 2001
Slide 11: Rustom Jilla, Chief Financial Officer
Rustom Jilla Chief Financial Officer
Slide 12: Reporting Currency
Reporting Currency * Ansell’s operating currency is US$ - all numbers today are in US$ - US$ results translated to A$ solely for statutory reporting * No hedge on accounting translation into A$ as <6% of revenue is A$ * Key financial hedge — Euro vs. US$ * Recent share price trend mirrors A$/US$ FX
Slide 13: Financial Highlights FY03
Financial Highlights FY03 Ansell Ltd Continuing Operations F’02 F’03 F’02 F’03 EPS he ¢ (32.3) 15.7 9.5 19.3 (61.9) 26.7 18.3 32.8 ROA 12.0% 11.7% 12.3% 14.6% INTEREST COVER 4.5X 6.4X NIBD/EQUITY 42% 22% Sales +2.7% Gross Margin +8.7% (@ 36.1% - LY 34.3%) Net Debt Reduced US$83 M Asset Turns improve
Slide 14: Ansell Group P&L
&s Ansell Group P&L Including Continuing discontinued Operations businesses F’°02 =F'03 F’'02 ~=F'03 US$ M Sales Revenue 1,160.7 758.7 738.5 758.7 EBITA 102.1 80.5 70.2 80.5 Less Goodwill 15.2 14.8 146 14.8 EBIT 86.9 65.7 55.6 65.7 Less Interest & Borrowing Costs 28.6 15.5 16.7 12.4 PBT 58.3 50.2 38
Slide 15: Cash Flow
Cash Flow Operating EBITDA Plus: Working Capital Reduction Less: Tax Paid Capital Expenditure Interest Paid (Net) Share Buy Back Dividends Other Continuing Operations Plus Discontinued Reduction in Net Interest Bearing Debt
Slide 16: Net Debt and Gearing
Net Debt and Gearing 30/6/02 US$ M Gross Debt 353.3 Cash (146.3) Net Debt 207.0 Equity 495.9 Gearing (Net Debt: Net Debt plus Equity) 29.4% Interest Cover 4.5X Including discontinued business 30/6/03 US$ M 314.4 (190.2) 124.2 563.1 18.1% 6.4X
Slide 17: Ansell Outlook: Growth From A Strong Base
Anse'l Qutiook: Growth From A Strong Base Ansell has emerged from FY03 with: * Low-cost manufacturing base * Stronger Balance Sheet * Improved Cash Flow * Balanced Capital Management Strategy »share buy-back > reintroduced cash dividends Revenue and EBITA growth will come from: ° “Sweet spot” growth
Slide 18: Meeting Market Commitments
Meeting Market Commitments Healthcare Segment EBITA US$ M Committed Actual Growth F°02 >77 85 Y = +10% F’03 94 Y +11% F’04 F’05 * * + 50% EBITA vs. 2001