Ultimate Products Plc · LSE:ULTP
Ultimate Products — UP Global Sourcing Holdings — H1 FY2019 Earnings Presentation
24 slides from Ultimate Products's earnings presentation, May 2019
Slide 1: UP Global Sourcing Holdings plc Interim Results FY19
UP GLOBAL SOURCING HOLDINGS PLC Interim Results FY19 20 19 www.upgs.com
Slide 2: Disclaimer
DISCLAIMER UP Global Sourcing Holdings plc This content of information contained in these slides and the responsibility or liability is accepted by any person for such information accompanying presentation comprises an institutional presentation (the or opinions. No person has been authorised to giv
Slide 3: Introduction: Agenda
INTRODUCTION UP Global Sourcing Holdings plc Interim Results FY19 Agenda Introduction Financial Review Strategy & Outlook Q A Questions & Answers INTEMPO Galaxy Collection Bring Your Music To Life 2
Slide 4: Who We Are
INTRODUCTION UP Global Sourcing Holdings plc Who We Are EST. IN EMPLOY SELL TO 1997 IN MANCHESTER 270+ PEOPLE ACROSS 300+ RETAILERS ACROSS THE GROUP 36 COUNTRIES • Established in Manchester in 1997 • A brands house of consumer goods for the home • Mass market and value led • Six major product catego
Slide 5: H1 FY19 Summary
INTRODUCTION UP Global Sourcing Holdings plc KLEENEZE Laundry Baskets Functional, Practical and Collapsible H1 FY19 Summary REVENUE UNDERLYING PBT £65.8m £5.9m + 36.0% + 47.3% (H1 FY18: £48.4 m) (H1 FY18: £4.0 m) • Total revenue increased 36.0% to £65.8 m (H1 FY18: £48.4 m) • Normalised revenue grow
Slide 6: H1 FY19 Financial Review
UPGlobal UP GlobalSourcing Holdingsplc SourcingHoldings plc SALTER Skandi 1.7L Kettle Nordic Inspired Design H1 FY19 Financial Review Graham Screawn Income Statement Segmental Analysis Geographical & Strategic Pillar Brand Major Product Areas Profit After Tax Bridge Balance Sheet Cash Flow 5
Slide 7: Income Statement
H1 FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc 12M JUL 6M JAN 6M JAN Income Statement 1) 2018 £’m 2) 2018 £’m 2) 2019 £’m Revenue 87.6 48.4 65.8 • Revenue up £17.4 m (36%) on H1 FY18. Gross Profit 19.6 10.9 14.8 Growth benefited from the reversal of the % 22.4% 22.4% 22.4% one-off revenue
Slide 8: Segmental Analysis
H1 FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Segmental Analysis 12M JUL 6M JAN 6M JAN 1) 2018 £’m 2) 2018 £’m 2) 2019 £’m Geographical & Strategic Pillar • International sales up £16.6 m compared to Geographical Analysis H1 FY18. Germany is the largest single UK 63.6 38.8 39.6 contributo
Slide 9: Segmental Analysis: Brand
H1 FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Segmental Analysis continued... Brand 12M JUL 6M JAN 6M JAN 1) 2018 £’m 2) 2018 £’m 2) 2019 £’m • Turnover of premier brands increased £9.4 m against H1 2018 Analysis by Brand Beldray 21.5 11.5 15.2 • Other key brands up £7.3 m compared Salter
Slide 10: Segmental Analysis: Major Product Areas
H1 FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc 12M JUL 6M JAN 6M JAN Segmental Analysis continued... 1) 2018 £’m 2) 2018 £’m 2) 2019 £’m Major Product Areas Analysis by Major Products Small Domestic Appliances 21.4 11.4 18.9 Housewares 20.8 11.9 15.2 Audio 15.0 8.4 14.7 Laundry 10.7 5.7 5.
Slide 11: Profit After Tax Bridge
H1 FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Profit After Tax Bridge 3,894 1,820 164 383 96 4,747 4,651 96 3,124 3,220 Profit after Share based Underlying Volume Overheads Interest Underlying Underlying Exceptional Profit after tax H1 FY18 payments profit after increase and tax profit af
Slide 12: Balance Sheet
H1 FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc 31 JUL 31 JAN 31 JAN 1) 2018 £’m 2) 2018 £’m 2) 2019 £’m Balance Sheet Non-current Assets Tangible Assets 2.0 1.9 1.9 Intangible Assets 0.1 - 0.1 • Higher stock levels required to service the Deferred Tax 0.1 0.1 0.1 stronger order book • Most
Slide 13: Cash Flow
H1 FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc 12M JUL 6M JAN 6M JAN Cash Flow 1) 2018 £’m 2) 2018 £’m 2) 2019 £’m Net Cash from Operations • Working capital movements arising from the EBITDA 6.3 4.4 6.5 increase in stock and debtors Share Based Payment Expense 0.1 0.1 0.1 Working Capital
Slide 14: Strategy & Outlook
UP Global Sourcing Holdings plc SALTER Gold Collection Chic and Contemporary Accessories Strategy & Outlook Discount retailers UK supermarkets Online platforms International 13
Slide 15: Appendices
UP Global Sourcing Holdings plc Appendices Key Brands Beldray Intempo Salter Russell Hobbs Progress Board of Directors INTEMPO Active Collection Listen, Move and Go. 14
Slide 16: Key Brands: Beldray
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 6M JAN 6M JAN 2016 £’m 2017 £’m 2018 £’m 2018 £’m 2019 £’m Beldray (originally ‘Bradley and Co. Ltd) is our trademark brand, a brand that since its Revenue beginnings in 1872 has become prominent in cleaning and safety equipment. The
Slide 17: Key Brands: Intempo
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 6M JAN 6M JAN 2016 £’m 2017 £’m 2018 £’m 2018 £’m 2019 £’m At Intempo, we take the latest technology and create audio products that we believe look Revenue great and sound even better. Our exciting range has been designed to support
Slide 18: Key Brands: Salter
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 6M JAN 6M JAN 2016 £’m 2017 £’m 2018 £’m 2018 £’m 2019 £’m Revenue For over 250 years, Salter has proudly created and manufactured great products to Turnover 12.1 16.1 13.8 8.0 12.9 enhance your lifestyle. A brand synonymous with pre
Slide 19: Key Brands: Russell Hobbs
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 6M JAN 6M JAN 2016 £’m 2017 £’m 2018 £’m 2018 £’m 2019 £’m Loved by the Great British public for over half a century, Russell Hobbs is a household Revenue brand with a strong heritage and is famous for its stylish and high quality pr
Slide 20: Key Brands: Progress
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 6M JAN 6M JAN 2017 £’m 2018 £’m 2018 £’m 2019 £’m Established in 1931 in Burnley, Lancashire, Progress has 86 years of heritage as a Northern brand, renowned for great quality, great value products. To this day, it remains a classic brand wi
Slide 21: Key Brands
KEY BRANDS UP Global Sourcing Holdings plc SALTER Metallics Kettle and Toaster SALTER Vintage Countertop On-trend Coordinating Collections Stylish Pastel Colours PORTOBELLO Tea Set Afternoon Tea Delight CAMBRIDGE Kayan Serveware Made from Eco-friendly Materials 20
Slide 22: Board of Directors
BOARD OF DIRECTORS UP Global Sourcing Holdings plc Jim McCarthy (63) Simon Showman (45) Andrew Gossage (47) Graham Screawn (52) Independent Chief Executive Managing Director Chief Financial Officer Non-Executive Officer Chairman James has over 40 years’ experience in the Simon began his career worki
Slide 23: Board of Directors
BOARD OF DIRECTORS UP Global Sourcing Holdings plc Alan Rigby (62) Robbie Bell (46) Barry Franks (72) Senior Independent Independent Non-Executive Non-Executive Non-Executive Director Director Director Alan spent the majority of his working career at Robbie was appointed Chief Financial Officer at B
Slide 24: UP Global Sourcing Holdings plc Interim Results FY19
UP GLOBAL SOURCING HOLDINGS PLC Interim Results FY19
UP Global Sourcing Holdings — H1 FY2019 Earnings Presentation on 6ix