Noumi Limited · ASX:NOU
Noumi — Freedom Foods Group — Shareholder Meeting (October 2015)
24 slides from Noumi's shareholder meeting presentation, Oct 29, 2015
Slide 1: Freedom Foods Group Limited Annual General Meeting Presentation
Freedom Foods Group Limited Annual General Meeting Presentation 29th October 2015 Rory J F Macleod Managing Director 1
Slide 2: Making Food Better
MAKING FOOD BETTER We desire to be recognised as creators — creating on-trend, great-tasting, responsibly Australian produced food and beverages. Food and beverages that people enjoy and feel good about. We aim to continually innovate and reimagine what is possible, to change the way the world eats
Slide 3: Core Category Focus
Core Category Focus Cereals & Beverages Snacks Allergen Dairy Free Oat and Non Dairy Nut Based Functional Milled Products Ingredients 3
Slide 4: Integrated Model - Paddock to Plate
4 Export SE Asia, China, North America Channels Retail, Food Service, Route & Convenience, Industrial Integrated Model - Paddock to Plate “Freedom Foods” Category Brands Brands, Retailers, Australian Export Brand Partners Source & Supply Manufacturing “Best in Class” Innovation Leading
Slide 5: Highlights from FY 2015
freedom, crour Highlights from FY 2015
Slide 6: Sales Revenues Development
% Group Sales Revenues ex Aust / NZ 20.0% 15.0% Sales Revenues Development 10.0% 5.0% Net Sales Development 0.0% 2011 2012 2013 2014 2015 Total Group WW / Coles % Total Group Revenues Pactum Dairy 80% Seafood 75% 74% Pactum Non Dairy 70% Freedom Foods 60% 61% 61% 0 20,000 40,000 60,000 80,000 100,00
Slide 7: Operating EBDITA (Underlying vs Statutory)
Operating EBDITA (Underlying vs Statutory) Year ended 30th June (A$’000) 2015 2014 Underlying Operating EBDITA before significant items 16,420 15,289 Significant Items expensed to profit: Exchange and Market Demand Impact on Purchases of Almond inputs -1,183 - Underlying Operating EBDITA 15,237 15,2
Slide 8: Recent Strategic Developments
Recent Strategic Developments 8
Slide 9: Snacks FY 2015
Snacks FY 2015 • Significant investment in Snack Bar production capacity and capabilities for future growth (new line installation) • Material improvement in quality, specification, reduced wastage • New formats (Kids “Nut Free” bars) launched in Coles mainstream from January 15 • Strong growth in 2
Slide 10: Freedom Farmers
• Quality and security of supply will be critical to managing and developing growth Freedom Farmers • Freedom utilises complex and unique grains that have inherent supply challenges • Freedom Farmers are a network of key supplier relationships based: • Long term contracted supply • Fair price • Seed
Slide 11: Darlington Point Mill
• Acquired Darlington Point Mill operations based in the Riverina district of New South Wales (completed 31 August 15) Darlington Point Mill • The mill gives Freedom a + 40% share of popping corn processing in Australia, also gluten free and non GMO grains. It also brings customers in food service a
Slide 12: Australian Fresh Milk Holdings
• Australian Fresh Milk Holdings consortium (AFMH) acquired Moxey Farms, Australia's largest single- site dairy operation in July 15 Australian Fresh Milk Holdings (10% Investment) • Fully integrated dairy farming operation located in the Lachlan Valley, New South Wales, 340 km west of Sydney • 2,70
Slide 13: Popina Foods Acquisition
Popina Foods Acquisition • Freedom Foods has entered into a binding agreement to acquire Popina Foods, an Australian based major manufacturer of Oat based Cereal and Snacks • Oats is an expanding consumer preference in Australia and Asia • Popina has a 30 year operating history with a strong track r
Slide 14: Popina Foods production and third party brands
Popina, proprietary and third party brands production consistent with the Freedom business model Supporting a range of leading 3rd party brands and retailers in Australia and Asia 14
Slide 15: Popina Foods – Opportunity for Freedom Foods
Popina Foods – Opportunity for Freedom Foods • Demand for Oat based Cereal products (including Cluster, Granola’s and related snacks) is expected to grow, reflecting increasing consumer awareness of the health benefits of Oats, improved product format and growing demand for Oat based Cereals in Asia
Slide 16: Goodness – BARLEYmax…a sleeper in the Portfolio
Goodness – BARLEYmax…a sleeper in the Portfolio • Goodness Superfood Cereals and Snacks • Contains CSIRO developed BARLEYmaxTM • A diet rich in BARLEYmaxTM can reduce the risk of heart disease, diabetes and obesity, improve bowel health and may even limit osteoporosis. • BARLEYmaxTM is also the high
Slide 17: New UHT facility Ingleburn Sydney
New UHT facility Ingleburn Sydney • Existing non dairy capabilities are constrained at Taren Point, restricting growth and financial returns • Ingleburn to provide increased capacities to drive growth in Liquids categories • Non Dairy • Value Added Dairy • Lowest Cost / Efficient Operations • Best i
Slide 18: Ingleburn site
Site (North West end) Site (North East end) 18
Slide 19: a2 Milk Company Limited
a2 Milk Company Limited • On 20 October, Freedom Foods sold 42.5 million shares in The a2 Milk Company Limited (“a2MC”) at a price of NZ$0.73 in an on-market trade, generating approximate net proceeds of A$28 million • Net proceeds will be invested into income producing assets consistent with Freedo
Slide 20: Funding Capability, Equity Raising
Funding Capability, Equity Raising • Freedom Foods Group announced on 21 October, that it is raising approximately $65 million (the “Equity Raising”) through: • a 4 for 33 accelerated non-renounceable pro-rata entitlement offer (“Entitlement Offer”) to eligible shareholders at $2.85 per share to rai
Slide 21: Recent Macro Developments
Recent Macro Developments Australia • Consumers demanding portability, choice, innovation (not always about price !) • Food Service (Route and Convenience) channels exhibiting strong growth, with good margin potential • Retail grocery market remains very dynamic, with the growth of Aldi and Cosco ch
Slide 22: Outlook
Outlook • The group will continue to invest in its people, brands and manufacturing capabilities to build a leading value added specialised food group operating across Australia and key Asia Pacific Global markets • We will continue our investment in leading supply chain and manufacturing capability
Slide 23: Thank you
Finally, thank you to all our customers and supply partners, but importantly our people, senior management group, board and shareholders for all their support and dedication throughout FY 2015 We look forward to a successful FY 2016 and beyond 23
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Freedom Foods Group — Shareholder Meeting (October 2015) on 6ix