Metcash Limited · ASX:MTS
Metcash — Shareholder Meeting (September 2023)
22 slides from Metcash's shareholder meeting presentation, Sep 15, 2023
Slide 1: ASX cover letter: 2023 AGM and Trading Update
Metcash Limited ABN 32 112 073 480 1 Thomas Holt Drive Macquarie Park NSW 2113 Australia 15 September 2023 Market Announcements Office Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000 Dear Sir/Madam METCASH LIMITED 2023 ANNUAL GENERAL MEETING AND TRADING UPDATE In accordance w
Slide 2: Chairman's Address
Metcash 2023 Annual General Meeting Chairman’s Address I will now provide you with an overview of how Metcash performed in FY23, as well as comment on other important matters such as our strategic direction, remuneration outcomes for the year, Board and Management changes and ESG. I will then invite
Slide 3: Remuneration and ESG
Turning now to remuneration. Short Term Incentive (STI) outcomes for Key Management Personnel (KMP) continued to be based on pool and scorecard results and, reflecting the delivery of outstanding results in FY23, ranged from 65% to 84% of the maximum potential reward. During the year we reviewed our
Slide 4: KMP changes and Board committees
Jordan and myself as members. The Committee oversees Metcash’s strategy and reporting in these very important areas. Turning now to KMP changes. In March this year Grant Ramage succeeded Scott Marshall as Chief Executive Officer of the Food pillar. Scott had been with Metcash for more than 30 years,
Slide 5: Thank you to shareholders
And to you our shareholders, I would like to say a sincere thank you from me and the entire Board for your ongoing support.
Slide 6: Metcash Limited 2023 Annual General Meeting
METCASH LIMITED 2023 Annual General Meeting 15 SEPTEMBER 2023
Slide 7: Acknowledgement of country
Care for Country, Maggie-Jean Douglas, Naidoc week 2021 winning artwork Acknowledgement of country I would like to acknowledge the Traditional Custodians of the lands from which we are all connecting today. I am connecting from the land of the Gadigal people of the Eora nation, and pay my respects t
Slide 8: Board of Directors
Board of Directors 1. Peter Birtles Doug Jones Margie Haseltine Christine Holman Non-Executive Group Chief Chair of the People, Culture Chair of the Safety and Chairman Executive Officer and Nomination Committee Sustainability Committee 1. Mark Johnson Murray Jordan Helen Nash Julie Hutton Non-execu
Slide 9: Metcash Management
Metcash Management 1. Doug Jones Alistair Bell Grant Ramage Annette Welsh Chris Baddock Group Chief Group Chief CEO, Food CEO, Independent CEO, Australian Liquor Executive Officer Financial Officer Hardware Group Marketers 1. Simon Burton Julie Hutton Danielle Jenkinson Marij Kouwenhoven Chief Strat
Slide 10: Meeting Agenda
Meeting Agenda 1. Receive and consider the financial report and reports of the directors and auditor for the year ended 30 April 2023 • Chairman’s Address • CEO review of financial performance 2. Resolution to re-elect Murray Jordan as a Director1. 3. Resolution to adopt the Remuneration Report 4. R
Slide 11: Chairman's Address
Chairman’s Address Peter Birtles Metcash Chairman 6
Slide 12: Review of FY23 Financial Performance
Review of FY23 Financial Performance Doug Jones Group Chief Executive Officer 7
Slide 13: About Metcash
About Metcash Our Purpose Our Values Our Vision Championing successful We believe independence is worth We are passionate about independents independents fighting for; and support them to be the best store in treating our people, retailers and in their town and their communities to suppliers the way
Slide 14: Group highlights
Group highlights ● Continuation of strong sales and ● Outstanding three-year growth rates earnings growth despite cycling very Another record year strong 2H22 ● Stable and attractive shareholder distributions ● All pillars continued to perform well ‒ Strong demand ● Group well positioned for continu
Slide 15: Group highlights
Group highlights Group revenue1 Group EBIT Profit after tax +5.7% vs 52 weeks 2 +8.1% vs 52 weeks 2 +4.6% vs 52 weeks 2 Continuation of growth to record $18.1bn to record $501m underlying to record $308m underlying and momentum 3 (+54.7% 3yr) (+29.0% 3yr ) (+49.5% 3yr) $259m reported +7.6% Operating
Slide 16: Transformation – larger, more diversified and stronger
Transformation – larger, more diversified and stronger A substantially larger FY20 EBIT1: $335m FY23 EBIT1: $501m earnings base 25% A balanced portfolio of businesses 50% EBIT 42% 39% (Hardware now largest EBIT contributor) 54% growth 21% 19% Retail sales doubled FY20 retail sales: $929m FY23 retail
Slide 17: Results overview by pillar
Results overview by pillar Food Hardware Liquor Sales revenue 1 FY23 FY222 norm. 3 3yr4 19% (including charge-through sales ) $m $m % % % 18% Food 9,604.3 9,522.3 0.9 2.8 16.6 53% Hardware 3,384.3 3,119.5 8.5 10.6 63.1 28% 55% 27% Liquor 5,063.8 4,763.9 6.3 8.3 37.7 Total sales revenue (including ch
Slide 18: Pillar strategic initiatives
Pillar strategic initiatives Food Hardware Liquor Improved value to support Growing store and customer Investment in network growth and network competitiveness network together with enhancement retail/franchise excellence • Network of the Future – • Store network growth through • Store and cool room
Slide 19: Digital & Horizon update
Digital & Horizon update Digital Horizon Stage 1 Accelerating digital progress for shoppers and Driving efficiencies, simplification and growth retailers, and suppliers – focus on both B2C and B2B through replacement of legacy systems Food • Expansion of IGA Rewards and IGA Shop Online • Steady prog
Slide 20: ESG highlights
ESG highlights FY23 significant achievements Environment Our Community and climate people and products • Alignment with TCFD • Emissions reduced 5.2% to 73,659t • Key safety measure (TRIFR) • $3.1m donated through • Alignment with GRI standards CO2e – in line with targets improved 34% to 19.9 Commun
Slide 21: Trading update – FY24 YTD
Trading update – FY24 YTD (18 weeks to 3 September) Group Hardware ● Total Group sales increased 1.7% ● Total Hardware sales increased 3.2% ‒ Demand and sales continue to be at solid levels with all pillars delivering ● Total Tools sales increased 23.1% reflecting solid demand and the sales growth Y
Slide 22: Championing successful independents
Championing successful independents