Clover Corporation Limited · ASX:CLV

Clover — FY2024 Earnings Presentation

16 slides from Clover's earnings presentation, Sep 24, 2024

1. Slide 1: Managing Director's Report 12 Months to 31 July 2024

   Managing Director’s Report 12 Months to 31 July 2024 24 September 2024

2. Slide 2: Vision, Values and Purpose Statement

   Vision, Values and Purpose Statement Vision To optimise the health and development of adults, infants and children. Values Respect, Response, Responsibility Purpose In collaboration with key market participants, Clover develops customised high value nutritional ingredients that enhance the wellbeing

3. Slide 3: Full Year Performance Highlights

   Full Year Performance Highlights  Total full year Revenue  New products continue to $62.2m in line with diversify the business guidance down on the FY23  Inventory at $29.6m $79.9m driven by reduced demand in the Infant formula market reduced $7.3m on FY23 full  Net Profit after tax year $1.5m d

4. Slide 4: FY24 Update

   FY24 Update  The second half delivered revenue of $34.9m (1H $27.3m) an increase of 28%, and NPAT $2.1m (1H NPAT -$0.6m).  The last quarter delivered improved orders including those from our Chinese customers.  The company's inventory position closed at $29.6 million a 19.9% reduction on the prio

5. Slide 5: Full Year 2024 Results

   Full Year 2024 Results AUD million 4E Reported 4E Reported 31 Jul 2024 31 Jul 2023  Customer engagement remains a Revenue $62.2 $79.9 key focus with continued trialling of new products to diversify and EBITDA $4.0 $10.0 extend our business offering NPBT $1.9 $8.4  NPAT impacted by lower sales and

6. Slide 6: 1st Half & 2nd Half Performance

   1 st Half & 2 nd Half Performance FY23 Net Sales Revenue FY23 and FY24 IH 45,000  driven by stock build ahead of 40,000 China licensing which came into effect Feb 23  Middle East customers grew 35,000 30,000 through brand and market growth 25,000 2H 20,000  Demand reduced following 15,000 stock b

7. Slide 7: Balance Sheet 31 July 2024

   Balance Sheet 31 July 2024 AUD Reported Reported  Tighter inventory 31 Jul 2024 31 Jul 2023 Movement control in line with $M $M $M general demand generated a strong Cash 12.3 9.4 2.9 cash position at the Trade Receivables 13.7 12.0 1.7 end of the year. Inventories 29.6 36.9 (7.3) Total Current Asse

8. Slide 8: Melody Dairies - New Zealand

   Melody Dairies - New Zealand  Melody Dairies remains a strategic investment for Clover.  The ownership structure changed during the year with DNIL 12.1 Food Innovation Waikato selling to Clover and Landcorp. Clover now holds 43.9%. Landcorp will reduce its holding Clover 43.9 LCorp over time selli

9. Slide 9: Ecuador

   Ecuador  AUD 5.0m strategic investment  Extraction of fish oil from heads of Tuna  Vertical integration, part of the Company’s long-term strategy  Supply chain protection and risk mitigation  Cost reduction 8

10. Slide 10: An Update on Growth Platforms

    An Update on Growth Platforms Focus on Infant Formula New New Product Market Development Development 9

11. Slide 11: Growth Platform: Choline

    Growth Platform New products driving future growth Choline  Clover has filed for IP of its unique Choline powder which is to be branded CholineXcel  Clover completed a production trial in August 2024 from which the product will be made available for customers to test over the coming months  Choli

12. Slide 12: Growth Platform: New Products and Premneo

    Growth Platform New products driving future growth New products  Generated meaningful sales across food, gummies, powdered drinks and nutraceuticals.  Gelphorm – a major USA brand has incorporated Gelphorm into its UHT product and remains on trial with other UHT customers in the USA & Asia. Premne

13. Slide 13: Growth Platform Focus on Infant Formula

    Growth Platform Focus on Infant Infant formula Formula  The infant formula market globally remains subdued due to lower birth rates  Clover’s unique powders have allowed customers to achieve higher levels of DHA and meet ingredients requirements adding revenue in H2 FY24  The H2 FY24 sales to Chi

14. Slide 14: FY25 Priorities

    FY25 Priorities Operations & Supply Chain Efficiencies  Integration of the Ecuador facility into the supply chain for strategic and gross margin benefits  Optimisation and use of Melody Dairies under new management to generate a lower cost of manufacture supporting customer requirements Innovation

15. Slide 15: FY25 Outlook

    FY25 Outlook  As we move into FY25, Clover aims to build on the demand profile achieved in the second half of FY24  Diversification remains a core focus with our powders being used in the nutraceutical markets in addition to major long-term projects including Gelphorm and Premneo providing a chann

16. Slide 16: Disclaimer

    Disclaimer The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions. This

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