Tasfoods Limited · ASX:TFL
Tasfoods — Shareholder Meeting (May 2019)
18 slides from Tasfoods's shareholder meeting presentation, May 22, 2019
Slide 1: AGM Presentation
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Slide 2: About TasFoods
About TasFoods TasFoods is a diversified food business leveraging Tasmania’s unique environment to create premium food products for sale to Australian and export customers. TasFoods has a strong and loyal customer base in Tasmania and continues to focus on its long-term vision to showcase the State’
Slide 3: FY18 Company Highlights
FY18* Company Highlights FY18 was a year of strong growth for TasFoods, setting the company on a pathway to profit. Highlights include: • Sales revenue up 25% to $38.4 million. • Gross profit up 54% to $10.7 million. • EBITDA improvement of $4.6 million. • H2 delivered positive operating cash flow.
Slide 4: FY18 Results Summary
FY18 Results Summary FY2018 $’000 FY2017 $’000 Change $’000 Change % Sales revenue 38,391 30,743 7,648 25% Gross profit 10,716 6,961 3,755 54% Gross profit margin 28% 23% 5% EBITDA (1,110) (5,710)* 4,600 NPAT (1,358) (6,808) 5,450 *Includes an impairment charge of $2.11m. 4 AGM Presentation | May 20
Slide 5: Balance Sheet and Capital Management
Balance Sheet and Capital Management (as at 31 December 2018) 2018 2017 $'000 $'000 • Improving operational efficiency across the business was a Current Assets core focus in 2018. - Cash and cash equivalents 6,658 9,663 - Receivables 2,609 2,799 • Net assets increased by $2.62 million, assisted by a
Slide 6: Business Operations
Business Operations
Slide 7: Brands and Market Expansion
Brands and Market Expansion TasFoods aims to showcase Tasmania’s finest produce to the world. One of our objectives in 2018 was growing sales to markets outside Tasmania. FY18 Achievements: • Key distribution partners established to supply dairy and poultry products to customers in Victoria, New Sou
Slide 8: Poultry
Poultry Operational Activities Achievements of the Year Objectives for 2019 • Poultry processing. • Sales revenue growth of 15% to $32.10 million. • Construction of new company owned • RSPCA approved barn raised poultry • Lower processing labour costs through automation of tunnel ventilated poultry
Slide 9: Dairy
Dairy Operational Activities Achievements of the Year Objectives for 2019 • Milk and cream processing facility. • Sales revenue growth of 140% to $5.96 million. • Sales growth benefiting from full year • Cheese manufacture and maturation • New premium brand developed for Pyengana Dairy Milk of sales
Slide 10: Horticulture
Horticulture Operational Activities Achievements of the Year Objectives for 2019 • Wasabi growing and harvesting • Sales revenue growth of 25% to $0.33 million. • Launch of new value added facilities. • Development of new distribution network to wasabi products. • Wasabi packing and processing impro
Slide 11: Dairy Expansion
Dairy Expansion
Slide 12: TasFoods Expands Dairy Business with Purchase of Betta Milk
TasFoods Expands Dairy Business with Purchase of Betta Milk Transformational acquisition for TasFoods with significant growth and synergy opportunities. • On 13 May 2019, TasFoods entered into an agreement to purchase the milk processing assets and brands of the Betta Milk Co-Operative Society Limit
Slide 13: Complements and Strengthens Existing Dairy Business
Complements and Strengthens Existing Dairy Business The acquisition of Betta Milk is another step in TasFoods’ strategy to build a successful premium food business leveraging Tasmania’s unique environmental and marketing advantages. Strategic advantages include: Synergies with existing operations in
Slide 14: Growth Opportunities from Betta Milk Acquisition
Growth Opportunities from Betta Milk Acquisition TasFoods’ increased scale through the Betta Milk acquisition will allow the company to grow its investment in premium Tasmanian food products and help it achieve its goal to become a more significant player in the Australian dairy market. • Excess pro
Slide 15: ROBUR FARM
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Slide 16: FY19 Group Outlook
FY19 Group Outlook TasFoods has established a solid base from which the business can scale and grow. Under its current operating structure (before Betta Milk acquisition), positive EBITDA is expected for the year to December 2019, despite commodity price headwinds. Key business objectives for FY19 i
Slide 17: TasFoods Well Positioned for Profitable Long-Term Growth
TasFoods Well Positioned for Profitable Long-Term Growth • Strategic leverage of the Tasmanian brand and its ability to deliver a premium food offering valued by consumers. • Two established foundation pillars in poultry and dairy, each with a solid and loyal customer base in Tasmania. • Strong defe
Slide 18: Disclaimer
Disclaimer This presentation is provided by TasFoods Ltd ACN 084 800 902 (TasFoods) to provide summary information about TasFoods and its subsidiaries and their activities as at the date of this presentation. The information in this presentation is of a general nature and does not purport to be comp