Pgg Wrightson Limited · NZX:PGW
Pgg Wrightson — Shareholder Meeting (November 2011)
19 slides from Pgg Wrightson's shareholder meeting presentation, Nov 2, 2011
Slide 1: PGG Wrightson Limited Annual Meeting 2011
PGG Wrightson Limited Annual Meeting 2011 Hawke’s Bay Opera House, Hastings 2 November 2011 1
Slide 2: Agenda
Agenda Sir John Anderson 1. Welcome and Introductions 2. Formalities 3. Chairman’s Address Rob Woodgate 4. Financial Review George Gould 5. Managing Director’s Address 6. Outlook Sir John Anderson 7. Questions and discussion 8. Business Resolutions. 2
Slide 3: Directors
Directors • Sir John Anderson, Chairman • Sir Selwyn Cushing • Bruce Irvine • Alan Lai • Keith Smith • Bill Thomas • Tao Xie (XT). 3
Slide 4: Senior Management
Senior Management • George Gould, Managing Director • Rob Woodgate, CFO • Julian Daly, General Counsel & Company Secretary • Stephen Guerin • Cedric Bayly • Nigel Thorpe • Brent Sycamore • Tom Mowat. 4
Slide 5: Formalities
Formalities • Notice of Meeting • Minutes • Proxies • Annual Financial Statements. 5
Slide 6: Chairman's Address
Chairman’s Address Sir John Anderson
Slide 7: Overview
Overview Agria partial Sale of NZ Sale of NZFSU Appointment of Sale of PWF to takeover Wool re-focus Merino concluded new MD Heartland concluded June 2011 interests Dec 2010 Feb 2011 August 2011 May 2011 June 2011 • Back to basics: getting the right people in the right places • Key managerial change
Slide 8: Financial Review
Financial Review Rob Woodgate, CFO
Slide 9: Financial Overview
Financial Overview EBITDA (ex-Finance) of $49.4 million 30 June 2011 ($m) Jun- 11 Jun-10 from operating revenue of $1.2 billion Trading results for Rural Supplies and Livestock on target Revenue 1,243.4 1,091.4 Wet spring and summer conditions in Australia; Canterbury earthquakes Cost of sales
Slide 10: Divisional Overview
Divisional Overview AgriServices 30 June 2011 ($m) 2011 2010 Results supported by positive performances by Livestock and Rural Revenue EBITDA Revenue EBITDA Supplies Renewed confidence in farm Livestock 139.6 16.4 87.3 12.6 expenditure positive for Real Estate Merchandising 566.4 24.2 541.7 22.2
Slide 11: Balance Sheet
Balance Sheet Increases in trade receivables to $230 Jun-11 Jun-10 30 June 2011 ($m) million related to the inclusion of Wool in the Group numbers and higher Current assets 583.4 905.1 debtors balances in South America. The rest of the group was similar in Non-current assets 447.9 621.8 performanc
Slide 12: Managing Director's Address
Managing Director’s Address George Gould
Slide 13: Strategy
Strategy Back to Basics Need to support our core businesses: • Livestock • Rural Supplies and Fruitfed • Seeds, Grain and Agri-feeds • Wool While growing aligned businesses: • Real Estate • Irrigation & Pumping • Insurance • Ag NZ Greater responsiveness to clients. . 13
Slide 14: Senior Management Team
Senior Management Team John McKenzie Cedric Bayly Nigel Thorpe Stephen Guerin Group GM: AgriTech GM: Wool GM: Livestock GM: Rural Supplies/Fruitfed Supplies Carlos Miguel de León Rob Woodgate Stu Cooper Julian Daly Group GM: Uruguay CFO GM: Real Estate General Counsel & Company Secretary John Parker
Slide 15: Senior Management Team - Regional
Senior Management Team - Regional 15
Slide 16: AgriServices
AgriServices • Rural Supplies & Fruitfed o Positive performance built on farmer confidence and market share gains o Focus on ‘people’ capability and technical skills through training o Working to upgrade and refurbish stores and distribution • Livestock o Still buoyant market conditions on tight sup
Slide 17: AgriTech
AgriTech • Seeds o Returns in 2011 disrupted by Canterbury Earthquake though brassica sales into the first quarter have been good • Australia o A positive quarter with performance meeting or exceeding expectation across all businesses • South America o Continued positive and pleasing growth • Grain
Slide 18: Outlook
Outlook • Aware that seasonal impacts can have a profound impact • Positive start to the current financial year • Budgeting for improved returns. Questions and Discussion. 18
Slide 19: Business of the Meeting
Business of the Meeting • To re-elect Bruce Irvine as a director • To re-elect Bill Thomas as a director • To elect Wah Kwong Tsang as a director • To elect Greg Campbell as a director • To elect Dr Zhi-Kang Li as a director. • To authorise the directors to fix the remuneration of the auditors. 19