Shriro Holdings Ltd. · ASX:SHM
Shriro — H1 2016 Earnings Presentation
15 slides from Shriro's earnings presentation, Aug 23, 2016
Slide 1: Shriro Holdings 2016 Half Year Results Presentation
For personal use only SHRIRO HOLDINGS LIMITED (SHM) 2016 Half Year Results Presentation August 2016
Slide 2: Group Performance Highlights
For personal use only Group Performance Highlights ............ Michael Westrup Chief Executive Officer Shriro Holdings Limited ............ SHM 2016 HALF YEAR RESULTS | 2
Slide 3: Highlights
Highlights For personal use only • NPAT was 29.2% up on the normalised first half of CY15 • Strong Gross Margin performance despite the Australian dollar being weaker than CY15 • Disciplined Operating Expense control resulting in strong EBITDA growth of 9.7% as compared to the normalised first half
Slide 4: Profit & Loss Statement
Profit & Loss Statement For personal use only Half Year Ended 30 June 2016 1H16 1H15 1H15 $ Million Actual Normalised ∆ Statutory Difference Revenue from 79.2 82.8 (4.3%) 83.1 (4.7%) ordinary activities • Strong gross margin performance, despite a weaker Australian dollar Gross Margin % 43.0% 42.1%
Slide 5: Segment Performance – Consumer Products
Segment Performance – Consumer Products For personal use only 1H16 1H15 1H15 $ Million Actual Normalised ∆ Statutory Difference Revenue 41.4 39.2 5.6% 39.2 5.6% EBITDA 5.1 5.1 0.0% 5.2 (1.9%) EBITDA 12.3% 13.0% 13.3% Margin • Consumer Products performed very well, with revenue growing by 5.6% • G-Sh
Slide 6: everdure by heston blumenthal – Consumer Products
everdure by heston blumenthal – Consumer Products For personal use only Australian release in September 2016 Global release in March 2017 www.everdurebyheston.com SHM 2016 HALF YEAR RESULTS | 6
Slide 7: Segment Performance – Kitchen Appliances
Segment Performance – Kitchen Appliances For personal use only 1H16 1H15 1H15 $ Million Actual Normalised ∆ Statutory Difference Revenue 37.8 43.8 (13.7%) 43.9 (13.9%) EBITDA 1.7 1.1 54.5% 1.3 30.8% EBITDA 4.5% 2.5% 3.0% Margin • Kitchen Appliances revenue decreased on the prior corresponding period
Slide 8: Neil Perry Kitchen by Omega – Kitchen Appliances
Neil Perry Kitchen by Omega – Kitchen Appliances For personal use only Displays are all rolled out Sales are performing to expectations www.neilperrykitchen.com.au SHM 2016 HALF YEAR RESULTS | 8
Slide 9: Shareholder Return
Shareholder Return For personal use only Dividends • Interim dividend of 3 cents per share payable 30th September 2016, fully franked • Record date of the 15th September 2016 and ex-dividend date of the 14th September 2016 • Dividends of 9 cents per share in total paid in CY16 fully franked SHM 2016
Slide 10: Balance Sheet & Cash Flows
For personal use only Balance Sheet & Cash Flows ............ Shane Booth Chief Financial Officer Shriro Holdings Limited ............ SHM 2016 HALF YEAR RESULTS | 10
Slide 11: Cash Flows - Statutory
Cash Flows - Statutory For personal use only Half Year Ended 30 June 2016 1H16 1H15 $M $M Cash flows from operating activities • Cash flows now normal and Receipts from customers 92.7 96.9 Payments to suppliers and employees (84.5) (78.7) reflective of the usual trading Net Finance Costs Paid (0.6)
Slide 12: Balance Sheet - Statutory
Balance Sheet - Statutory As at 30 June 2016 For personal use only 1H16 1H15 $M $M Current assets Cash and cash equivalents 0.0 2.0 • Net debt reduced from $17.5M Trade and other receivables 26.1 26.4 Inventories 43.5 42.6 down to $11.9M Other assets & Derivative Receivable 2.3 2.4 Total current ass
Slide 13: Outlook
Outlook For personal use only • Financial performance is biased to the second half due to seasonal influences • As per previous guidance, the Board generally expects demand growth in the second half of CY16 to be modest • Global expansion of everdure by heston blumenthal to commence in CY17 • CY16 N
Slide 14: Appendix: 1H15 Statutory Result to Normalised Result Bridge
For personal use only Appendix 1H15 Statutory Result to Normalised Result Bridge
Slide 15: Reconciliation – Statutory to Normalised 1H15
Reconciliation – Statutory to Normalised 1H15 For personal use only Half Ended 30 June 2015 $ Million 1H15 NPAT Statutory (3.1) IPO Costs 5.3 Employee Share Plan 0.2 MEP 0.4 ASX Costs (0.2) Interest 0.2 Property (0.1) Tax (0.3) NPAT Normalised 2.4 • Note all 1H16 figures in the presentation are actu