Pgg Wrightson Limited · NZX:PGW
Pgg Wrightson — Shareholder Meeting (October 2012)
17 slides from Pgg Wrightson's shareholder meeting presentation, Oct 24, 2012
Slide 1: PGG Wrightson Limited Annual Meeting 2012
PGG Wrightson Limited Annual Meeting 2012 Ellerslie Events Centre Auckland 24 October 2012
Slide 2: Agenda
Agenda Bruce Irvine 1. Welcome & Introductions 2. Formalities 3. Chairman’s Address George Gould 4. Operational Review Rob Woodgate 5. Financial Review George Gould 6. Outlook Bruce Irvine 7. Questions & Discussion 8. Business Resolutions
Slide 3: Directors
Directors Present • Bruce Irvine • Sir Selwyn Cushing • Alan Lai • Wah Kwong Tsang (WK) • Bill Thomas Apologies • Sir John Anderson • Tao Xie (XT) • Dr Zhi-Kang Li
Slide 4: Senior Management
Senior Management • George Gould Managing Director • Rob Woodgate Chief Financial Officer • Julian Daly General Counsel & Company Secretary
Slide 5: Formalities
Formalities • Notice of Meeting • Minutes • Proxies • Annual Financial Statements
Slide 6: Chairman's Address
Chairman’s Address Bruce Irvine
Slide 7: Overview
Overview • $24 million net profit after tax • Return to core business • Divestment of PGG Wrightson Finance • Collecting outstanding loans – Crafar Farms on track
Slide 8: Operational Review
Operational Review George Gould
Slide 9: Operational Performance
Financial Highlights ($M) Operational $55 $59 Performance $49 • Operating $24 EBITDA $55m • Net profit $5 ($31) after tax $24m Operating Profit Operating EBITDA After Cash Flow Tax • Net cash flow from operating $59m 2011 2012 activities
Slide 10: AgriServices
AgriServices Livestock Strong values, improved dairy volumes Rural Supplies Positive spring/summer growing conditions Fruitfed Supplies Challenging time for many growers Real Estate Renewed market confidence
Slide 11: AgriTech
Rainfall – Variation to Average Australia (Murray Darling Basin) AgriTech Oct 2008 – Mar 2009 Australian Seeds Challenging weather New Zealand Delayed harvest but result Oct 2011 – Mar 2012 in line with expectations South America Continued growth in Uruguay
Slide 12: Financial Review
Financial Review Rob Woodgate
Slide 13: Financial Performance
Financial Performance Financial June Year (NZ $M) FY12 FY11 Performance Operating EBITDA 55 49 • Fully consolidated Wool Depreciation & business resulting in $47m amortisation (8) (10) increase in revenue Non-operating items & fair value adj. (4) (48) • Operating costs up $13m Net interest & finance
Slide 14: Cash Flow and Balance Sheet
Financial Position Cash Flow 30 June FY12 FY11 (NZ $M) • $59m cash from Total Assets 980 1,449 operating activities Total Liabilities 402 845 • $25m improvement in Total Equity 578 604 debtors Cash Flow June Year (NZ $M) FY12 FY11 Balance Sheet Net Cash flow from: • Finance company sale Operating ac
Slide 15: Outlook
Outlook AgriServices • Tougher operating environment than last year • 7% up on same period last year AgriTech • Cooler spring in Australia and NZ • Slower start to the year Overall • First half earnings generally 30% of total year
Slide 16: Business of the Meeting
Business of the Meeting 1. To re-elect Alan Lai as a director 2. To authorise the directors to fix the remuneration of the auditors
Slide 17: Thank you for attending
PGG Wrightson Thank you for attending