Slide 1: Interim Results: Half Year Ended 30 November 2019
INTERIM RESULTS PZ Cussons Plc Half Year Ended 30 November 2019 1
Slide 2: Overview
OVERVIEW INTERIM RESULTS | 30 NOVEMBER 2019 PZ CUSSONS PLC • Strategy announced in July 2019 delivering initial progress - stable revenues in Focus Brands, two disposals announced and overhead reduction plans underway • Group’s adjusted results for the first half impacted by challenging market condi
Slide 3: Group
INTERIM RESULTS | 30 NOVEMBER 2019 PZ CUSSONS PLC GROUP Constant • Overall decline in revenue of -4.3% Half Year to Half Year to Reported currency 30 Nov 2019 30 Nov2018 % change % change across key geographies due to challenging market conditions. Revenue* £293.3m £302.8m (3.1%) (4.3%) • Adjusted o
Slide 4: Europe & the Americas
INTERIM RESULTS | 30 NOVEMBER 2019 PZ CUSSONS PLC EUROPE & THE AMERICAS Half Year to Half Year to Reported Constant currency Continuing Operations 30 Nov 19 30 Nov 18 % change % change Revenue £91.6m £95.8m (4.4%) (4.7%) Adjusted operating profit £22.7m £23.5m (3.4%) (4.3%) Operating margin % 24.8%
Slide 5: Asia Pacific
INTERIM RESULTS | 30 NOVEMBER 2019 PZ CUSSONS PLC ASIA PACIFIC Half Year to Half Year to Reported Constant currency 30 Nov 19 30 Nov 18 % change % change Revenue £94.2m £95.6m (1.5%) (3.8%) Adjusted operating profit £8.2m £9.6m (14.6%) (17.5%) Operating margin % 8.7% 10.0% • Continued growth in reve
Slide 6: Africa
INTERIM RESULTS | 30 NOVEMBER 2019 PZ CUSSONS PLC AFRICA Half Year to Half Year to Reported Constant currency 30 Nov 19 30 Nov 18 % change % change Revenue £107.5m £111.3m (3.4%) (4.4%) Adjusted operating profit (£0.6m) £1.2m (150.0%) (148.6%) Operating margin % (0.6%) 1.1% • Challenging Nigerian ec
Slide 7: Cash Flow and Net Debt
INTERIM RESULTS | 30 NOVEMBER 2019 PZ CUSSONS PLC CASH FLOW AND NET DEBT (2.4) (136.2) 35.2 (17.4) (177.2) (35.0) (9.9) 76.1 (5.6) Net Debt Operating cash Disposal of Working Capital Taxation Dividends Capex Other Net Debt 30 Nov 2018 flow (ex WC) company 30 Nov 2019 • Overall net debt declines to £
Slide 8: Summary & Overview
INTERIM RESULTS | 30 NOVEMBER 2019 PZ CUSSONS PLC SUMMARY & OVERVIEW • Expect an improved performance in second half driven by UK, US Beauty, stability in Australia and Nigeria, resulting in profit before tax modestly below prior year. • Increase in marketing expenditure in second half to support lo