Slide 1: ASX cover letter for HY21 investor presentation
17 February 2021 ASX Market Announcements ASX Limited 4th Floor, 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam, SCHAFFER CORPORATION LIMITED (ASX:SFC) INVESTOR PRESENTATION - HY21 RESULTS Please find attached SFC’s Investor Presentation for the first half of the 2021 financial year. The Board has
Slide 2: Half-Year Results Presentation December 2020
Half-Year Results Presentation December 2020 Creating long-term shareholder value through the efficient operation and growth of our core businesses and investments
Slide 3: Organisation Chart (Core Businesses)
Half-Year Results Presentation December 2020 Organisation Chart (Core Businesses) SCHAFFER CORPORATION LIMITED Manufacturing Group Investments Automotive Leather (83% Owned) SFC (100%), Gosh Capital (83%) • Finishing Company Owned Property − Kosicé – Slovakia • Jandakot Rd, Jandakot, WA − Thomastown
Slide 4: Consolidated Financial Performance
Half-Year Results Presentation December 2020 Group Consolidated Financial Performance Half-Year Ending Dec-2020 Dec-2019 Revenue ($m) $102.1 $92.7 NPAT1 ($m) $23.1 $13.9 EPS (cents per share) 169.5 101.6 Ordinary dividends (fully franked) $0.45 $0.45 • Profit up 66% including a 13% increase in Autom
Slide 5: Cash Flow
Half-Year Results Presentation December 2020 Cash Flow Half-Year Ending ($m) Dec-2020 Jun-2020 Dec-2019 NPAT 23.1 9.7 13.9 Significant decrease in Automotive Leather working capital as excess Unrealised pre-tax gains – group investments (13.5) (6.1) (4.7) hides resulting from Covid-19 Depreciation1
Slide 6: Net Debt Decrease ($m's)
Half-Year Results Presentation December 2020 Group Net Debt Decrease ($m’s) 5.4 7.3 2.4 4.8 34.3 26.3 Net Debt Decreased $14.4m 11.9 Net Debt Dividends Dividends New Capex Cash Net Debt 30 June (SFC s/holders) (minorities) investments Generated 31 Dec Net debt decreased due to strong cash generation
Slide 7: Net Debt Overview ($m's)
Half-Year Results Presentation December 2020 Group Net Debt Overview ($m’s) Manufacturing Group Investments Syndicated Total Total Automotive SFC Gosh All amounts in $m’s Investment 31 Dec 30 Jun Leather Investments Capital Properties 2020 2020 Type of Debt: Bank debt (15.8) - (21.7) (6.6) (44.1) (5
Slide 8: Dividends
Half-Year Results Presentation December 2020 Dividends • The Board has declared an interim fully franked dividend of 45¢ per share, an increase of 29% compared to the FY20 final dividend. • Payable on 12 March 2021. Shareholder Dividends $0.90 $0.80 $0.80 $0.70 $0.70 $0.60 $0.50 $0.45 $0.45 (H1) $0.
Slide 9: Automotive Leather
Half-Year Results Presentation December 2020 Automotive Leather 7
Slide 10: Automotive Leather
Half-Year Results Presentation December 2020 Automotive Leather Half-Year Ending ($m’s) Dec-2020 Dec-2019 Revenue 88.8 78.5 Segment NPAT* 12.6 11.0 * NPAT excludes 16.83% minority interests. Revenue increased 13% Significant increase in volumes as the global automotive industry recovered from th
Slide 11: Investments
Half-Year Results Presentation December 2020 Group Investments Objective: Maximising shareholder medium and long-term value Half-Year Ending ($m’s) Dec-2020 Dec-2019 Revenue 4.4 4.1 Segment NPAT* 10.7 4.4 * NPAT excludes 16.83% minority interests for Gosh Capital investments. • NPAT of $10.7m includ
Slide 12: Investments – Net Equity Value
Half-Year Results Presentation December 2020 Group Investments – Net Equity Value Net Equity Value Pre-Tax1 increased to $13.29/share (Jun 2020: $11.94) Net Equity Net Equity Net Book Market Value Pre- Value Pre- Equity Cost 2 Value Value Tax 1 Tax 1 Per Value 3 ($m) ($m) ($m) ($m) share ($m) Proper
Slide 13: Investments - Property
Half-Year Results Presentation December 2020 Group Investments - Property IBM Building, West Perth, WA Hometown, Cannington, WA Parks Centre, Bunbury, WA Magnesium Dr, Crestmead, QLD 39 Dixon Rd, Rockingham, WA 6 Centro Ave, Subiaco WA Cope Logistics – 7 properties nationwide DoubleTree Hilton, Burl
Slide 14: Investments - Property Portfolio
Half-Year Results Presentation December 2020 Group Investments - Property Portfolio SFC SFC SFC Notional Tax Net Current SFC Share of Share of Share of on Capital Equity Ownership Land Lettable Area Ownership Book Value Market Value Debt Gain Value Address Description Structure Size (sqm) (sqm) % ($
Slide 15: Investments - Property Portfolio (continued)
Half-Year Results Presentation December 2020 Group Investments - Property Portfolio (continued) SFC SFC SFC Notional Tax Net Current SFC Share of Share of Share of on Capital Equity Ownership Land Lettable Area Ownership Book Value Market Value Debt Gain Value Address Description Structure Size (sqm
Slide 16: Beachside North Coogee
Half-Year Results Presentation December 2020 Beachside North Coogee Stage 1 (Artist’s impression) A 2.1 hectare property that has been zoned high density residential from industrial. • State and Federal Government stimulus during 2020 accelerated interest in the site. • Civil works for Stage 1 are a
Slide 17: Jandakot Road Property
Half-Year Results Presentation December 2020 Jandakot Road Property Jandakot Airport Schaffer Site A strategic 54.4ha property asset located between two freeways and 15 minutes south of the Perth CBD. • 38.8ha – Allowable uses are Warehouses, Showrooms, Storage, Masonry Production and Nurseries. Thi
Slide 18: Delta
Half-Year Results Presentation December 2020 Delta 17
Slide 19: Delta
Half-Year Results Presentation December 2020 Delta Half-Year Ending ($m’s) Dec-2020 Dec-2019 Revenue 8.9 10.1 Segment NPAT 1.0 (0.2) • Delta has returned to profit. • The temporary border controls in Western Australia associated with Covid-19 have made it difficult to source labour. This has increas
Slide 20: Outlook – FY21
Half-Year Results Presentation December 2020 Group Outlook – FY21 Automotive Leather sales volumes are expected to improve but SFC expects FY21 second-half profits to be marginally lower than the strong result achieved in H1 FY21 due to the risk factors mentioned below. Delta is expected to rema
Slide 21: Non-IFRS Financial Information
Half-Year Results Presentation December 2020 Non-IFRS Financial Information As at Reconciliation of Net Debt excluding lease liabilities for leases previously classified as operating leases ($m’s) Dec-2020 Jun-2020 Interest-bearing loans and borrowings 44,582 53,333 Lease liabilities 31,899 33,624 L
Slide 22: Disclaimer
Half-Year Results Presentation December 2020 Disclaimer This presentation has been prepared by Schaffer Corporation Limited ACN 008 675 689 for information purposes only. The presentation may contain forward looking statements or statements of opinion. No representation or warranty is made regarding