Glg Corp Ltd · ASX:GLE
Glg — Shareholder Meeting (November 2017)
30 slides from Glg's shareholder meeting presentation, Nov 24, 2017
Slide 1: GLG Corp Ltd Annual General Meeting
GLG CORP LTD For personal use only Annual General Meeting LEVEL 11, 1 MARGARET STREET, SYDNEY 11:00am Sydney Time 23rd November 2017 WELCOME
Slide 2: Cautionary Note on Forward-looking Statements
Cautionary Note on Forward-looking Statements For personal use only This presentation may contain statements regarding the business of GLG Corp Limited and its subsidiaries (‘Group’) that are of a forward looking nature and are therefore based on management’s assumptions about future developments. S
Slide 3: Board of Directors and Auditor
Board of Directors and Auditor For personal use only Members of The Board • Estina Ang Suan Hong – Executive Chairman & CEO • Christopher Chong – Lead Independent Director • Shane Hartwig – Independent Director • Felicia Gan – Executive Director, Chief Marketing Officer Company Secretary Alistair Ch
Slide 4: Agenda of AGM
Agenda of AGM For personal use only Director’s Review Outlook and Prospects Annual Report Resolutions Any Other Business
Slide 5: Director's Review
For personal use only Director’s Review
Slide 6: Income Statement
Income Statement - FY2016 vs FY2015 For personal use only GLG Corp Ltd FY2017 FY2016 Income Statement US’000 US’000 % Change Sales 156,041 171,032 -9% Cost of sales (134,570) (148,174) -9% Gross Profit 21,471 22,858 -6% Other Operating Income 344 1,295 -73% Selling & Distribution Expenses (3,410) (2
Slide 7: Revenue by Key Customers
Revenue by Key Customers FY2017 vs FY2016 For personal use only FY 2017 FY 2016 Variance Variance % Sales from Top 10 Customers US’000 US’000 US’000 US’000 MACY'S 48,736 53,684 (4,948) -9% WAL-MART USA 48,146 51,810 (3,664) -7% WAL-MART CANADA 31,150 29,106 2,044 7% AEROPOSTALE 10,976 14,519 (3,543)
Slide 8: Revenue for FY2017
Revenue for FY2017 By Quarter - Value and Unit Price For personal use only FY2017 Revenue by Average price Quarter Sales Dozen per dozen US$ million US$ million US$ 1Q: Jul-Sep 2016 32.9 1.0 31.39 2Q: Oct-Dec 2016 37.9 1.2 31.58 3Q: Jan-Mar 2017 37.7 1.2 31.42 4Q: Apr-Jun 2017 47.5 1.6 29.69 Grand T
Slide 9: Full Year Performance FY2017 vs FY2016
Full Year Performance FY2017 vs FY2016 For personal use only GLG Corp Ltd Revenue & Gross Profit (US$K) GP% Revenue GP GP% 171,032 180,000 14 156,041 160,000 140,000 13.7 13.5 120,000 13.3 13 100,000 12.5 80,000 60,000 12 40,000 22,858 21,471 11.5 20,000 0 11 FY2016 FY2017
Slide 10: Cost Analysis - FY2017 vs FY2016
Cost Analysis - FY2017 vs FY2016 FY2017 FY2016 % Change For personal use only US’000 US’000 Selling & Distribution Expenses (3,410) (2,648) 29% Administrative Expenses (10,244) (10,924) -6% Other Operating Expenses (2,469) (2,778) -11% Finance cost (1,215) (1,327) -8% • Higher selling & distribution
Slide 11: Financial Highlights of FY2017
Financial Highlights of FY2017 For personal use only
Slide 12: First Quarter FY2017
Loz Ajnr wi jrereay yy r—— FIRST QUARTER — 4 FY2017 Risk Management workshop and policy revised and approved by AC 910z ysnGny Commenced execution of Maxim entities acquisition, June 2016 } after announcement on 30 Prelim Report on FY2016 filed with ASX Risk Committee formed, top 10 risks identified
Slide 13: Second Quarter FY2017
r—— SECOND QUARTER ——\ FY2017 7 AGM AGM held in a) ‘ = Sydney including | 8 ze, i g shareholders He} % ig approval for is 19 Maiden First batch of iB Maxim acquisition | 5 z shipments to LDP shipments iy pe ia new customer arrived In USA 1m ' = (Gerber) H === Completion of Maxim entities acquisition
Slide 14: Third Quarter FY2017
r—— THIRD QUARTER — FY2017 Finanee First Half Financial ag Stag, Statements a BDO iz Br "“Mer (appendix 40) fled |S ig y » with ASX is a ASIC approval of 13 i = Deloitte resignation and ; 3 i 3 appointment of BDO as 3 8 new auditor ~~ § Maxim Malaysia signed up for Walmart's self-testing Quality pro
Slide 15: Fourth Quarter FY2017
r— FOURTH QUARTER ——\ FY2017 Board ad ber = Announced approved :® 2 acquisition of theBudget = S > Walmart Canada 3 garment factory for FY2018 13 gave us Supplier In Malaysia (GLM) He Award 2017 3 Completion of GLM acquisition CFO & CMO conduct investors’ roadshow In Sydney
Slide 16: Ghim Li Fashion (Malaysia) Sdn Bhd
GHIM LI FASHION (MALAYSIA) SDN BHD FOR THE FINANCIAL YEAR ENDED 30 JUNE 2017 KEY STATISTICS: ~ Established : 1984 7 = Product Type: Knitted Wear MAL i a ; » Total Production Lines: 16 » 6-day work-week * Capacity: 800,000 Units/Month = Specialty Styling: Sleepwear, Fashion Knit-Tops, Children’s wear
Slide 17: Outsourced Manufacturing Partners
For personal use only * Outsourced Manufacturing Partners
Slide 18: Marketplace Update & Outlook
For personal use only Marketplace Update & Outlook
Slide 19: Marketplace Update
Marketplace Update For personal use only 2017 has been an unkind year to the U.S. Retail Industry, where it continues to see store closures and bankruptcies Some of the major retail brands in trouble include True Religion (a 15-year old denim brand will close some stores), The Limited (who will clos
Slide 20: Marketplace Update
Marketplace Update But it is not all gloom and doom in the retail industry, as we also For personal use only see some companies expanding e.g. TJX and Costco Off-price retailing giant, TJX is benefiting from the turmoil by bulking up its inventory, to support sales and profit growth, adding new loca
Slide 21: Marketplace Update
Marketplace Update For personal use only To be the strongest and smartest, the key is how the retailers need to play to the strengths of their physical stores, by build them for the future. The use of data to better manage inventories, allowing marketing to better in-store outreach, and optimize cos
Slide 22: Response to Marketplace
Response to Marketplace For personal use only Use of new technology to create a digitalized Supply chain, including use of 3D tools for product design, development and sampling process to reduce cycle time & improve adoption rate, eliminating physical samples and reduce costs Restructuring of pre-or
Slide 23: Annual Report
For personal use only Annual Report
Slide 24: Annual Report
Annual Report For personal use only • To table and consider the Annual Report of the Company which includes the following: - Financial Report - Directors’ Report - Auditor’s Report for the period ended 30 June 2017 • Questions or comments? 14 Nov 2016 AGM FY2016 24
Slide 25: Resolutions
For personal use only Resolutions
Slide 26: Resolutions
Resolutions For personal use only • Resolution 1: Adoption of Remuneration Report • Resolution 2: Re-election of Mr. Shane Hartwig as Director • Resolution 3: Re-appointment of Auditor of the Company 14 Nov 2016 AGM FY2016 26
Slide 27: Resolution: Adoption of the Remuneration Report
Resolution 1 For personal use only Adoption of the Remuneration Report “That, for the purpose of Section 250R(2) of the Corporations Act and for all other purposes, approval is given for the adoption of the Remuneration Report as contained in the Company’s annual financial report for the financial y
Slide 28: Resolution: Re-election of a Director
Resolution 2 For personal use only Re-election of a Director “That Mr. Shane Hartwig, having been appointed as an addition to the Board, and who retires in accordance with clause 12.7 of the Company’s Constitution, and being eligible, offers himself for re- election as a Director of the Company, is
Slide 29: Resolution: Re-appointment of Auditor
Resolution 3 For personal use only Re-appointment of BDO East Coast Partnership as Auditor The Company proposes and a shareholder has nominated that BDO East Coast Partnership be re-appointed as auditor of the Company. For Open Against Abstain 64,698,706 8,000 2000 52,480 14 Nov 2016 AGM FY2016 29
Slide 30: For personal use only
For personal use only