Oldfields Holdings Ltd · ASX:OLH
Oldfields — Shareholder Meeting (November 2018)
26 slides from Oldfields's shareholder meeting presentation, Nov 22, 2018
Slide 1: Annual General Meeting 22nd November 2018
OLDFIELDS rsonal use only HOLDINGS LIMITED ANNUAL GENERAL MEETING 22nd NOVEMBER 2018
Slide 2: Chairman & Board
Chairman & Board rsonal use only • Lewis (William) Timms, Chairman • Steve Hooper, Non Executive Director • Richard Abela, Managing Director & CEO • Greg Park, Executive Director, Co Sec & CFO
Slide 3: Order of Business
Order of Business rsonal use only • Welcome and Introductions • Chairman’s Address • Chief Financial Officer’s Address • Non-Executive Director’s Address • Chief Executive’s Officer’s Address • Items of Business • Open Discussion
Slide 4: Chairman's Address
rsonal use only CHAIRMAN’S ADDRESS LEWIS TIMMS
Slide 5: 2018 Financial Results
2018 Financial Results rsonal use only 2018 2017 Change $000’s $000’s % Group Revenue (Net) 25,898 26,721 -3.1% Net Profit after Tax 1,550 312 +396.8% add backs DSLN Debt Revaluation (1,936) 287 Interest 278 303 Depreciation & Amortisation 912 803 Income Tax Expense 309 315 Foreign Exchange Gain 8 1
Slide 6: Company Secretary & CFO Greg Park
rsonal use only COMPANY SECRETARY & CFO COMPANY GREG PARK SECRETARY & CFO Greg Park
Slide 7: FY18 EBITDA Movements Against Prior Year
FY18 EBITDA Movements Against Prior Year Support Spend $0.9m Inroads of Growth Strategy $1.4m rsonal use only Hire Contrib’n COGS Mix & Growth Savings Terms Branches +$125k Sheds +$551k +$666k $2,031k Contrib’n +$123k Sales Staff / Marketing -$415k Sales Hire Paint Sales Margin & COGM Conrib’n Reced
Slide 8: Review of Revenue (before trading terms)
Review of Revenue (before trading terms) FY17 FY18 FY17 v FY18 Mov’t % rsonal use only Sheds 1,807 246 -1,561 Paint 6,751 5,209 -1,542 -22.8% Consumer 8,558 5,455 -3,103 -36.3% Scaffold 19,061 20,876 +1,815 +9.5% Total Group 27,619 26,331 -1,288 -4.7% Paint Applications FY17 FY18 FY17 v FY18 Mov’t %
Slide 9: DSLN Revaluation
DSLN Revaluation • At 30 June 2018: 5.5 yrs through 10 yr Senior Loan Note rsonal use only • Agreement Terms: Payout criteria changes after 5 yrs FY17 & PRE: Interest 12% Compound FY18 & POST: Premium $250k/cent > 10 cents • Criteria change required new method of value DSLN DSLN Liability Elements F
Slide 10: DSLN Planning & Options
DSLN Planning & Options rsonal use only • See out remaining 5 years. i.e. pay Westpac $2.4m +Redemption Premium on 21 Dec 2022 • Seek new bank financiers to payout DSLN • Perform capital raising to payout bank facilities & additional working capital requirements Slide 10
Slide 11: Non Executive Director Steve Hooper
rsonal use only NON EXECUTIVE DIRECTOR COMPANY STEVE HOOPER SECRETARY & CFO Greg Park
Slide 12: Operations and Innovation - Focus in 2018/19
Operations and Innovation - Focus in 2018/19 Realignment of Operations – Resources and Facilities: rsonal use only Campbelltown 1. Cost reduction and focus on space for scaffolding 2. Implementation of “Online” capabilities for sale of sheds, Telesales focus 3. Highly engaged and qualified scaffold
Slide 13: Chief Executive Officer Richard Abela
rsonal use only CHIEF EXECUTIVE OFFICER COMPANY RICHARD ABELA SECRETARY & CFO Greg Park
Slide 14: Key Achievements 2018 - Scaffolding
Key Achievements 2018 - Scaffolding • Built new operational capacity within branches allowing strong revenue growth to continue rsonal use only • Development of counter cyclical revenue streams – now beginning to make its mark as the housing industry begins to cool • Leveraging national accounts – t
Slide 15: Key Achievements 2018 - Paint
Key Achievements 2018 - Paint • Pro Series Brush launched Nov 17 rsonal use only – Over 40,000 brushes sold – Over 300 Stores now carry this brush • Pro Series Roller maintains its lead position in the market • Key account agreements established in 2018 – 4 key national chains in paint specialist se
Slide 16: Key Achievements 2018 - Sheds
Key Achievements 2018 - Sheds • Divestiture of non strategic & unprofitable division without rsonal use only redundancy costs • Efficient conversion of raw materials and WIP into finished goods • Manufacturing equipment decommissioned & sold • Commencement of on-line sales direct to public • Goal to
Slide 17: FY19 - Current Year Progress
rsonal use only FY19 - CURRENT YEAR PROGRESS RICHARD ABELA
Slide 18: Focus for FY19
Focus for FY19 1. Build upon Pro Series roller position rsonal use only and brush launch … key account support 2. Build on leveraging national accounts in Scaffold with National players 3. Continue to build counter cyclical revenue streams 4. Commence scaffold sales program within China market 5. Co
Slide 19: Capacity Building – People
Capacity Building – People rsonal use only • Building core skill sets in all levels of the organisation • Allowing delegation and driving accountability • Developing capacity and understanding of business and profit drivers through focused analysis • Continue to build and employ new thinking with gr
Slide 20: First Half Guidance
First Half Guidance • Lower consumer revenue base (prior year termination of M10 warehouse supply, no contract manufacture of sheds) rsonal use only • Leverage national scaffold network to accelerate revenue growth across all branches • Continued investment in key roles & activity to drive future gr
Slide 21: Items of Business
rsonal use only ITEMS OF BUSINESS
Slide 22: Financial Statements & Reports
Financial Statements & Reports rsonal use only To receive and consider the following reports in respect of the financial year of the company ended 30 June 2018; • The financial report ( which includes the Statement of Financial Position, Statement of Comprehensive Income, Cash Flow Statement and Dir
Slide 23: Resolution: Re-election of Stephen Charles Hooper
Resolution 1 rsonal use only Re-election of Stephen Charles Hooper as a Director “That Stephen Charles Hooper , who retires by rotation in accordance with the Company’s Constitution and being eligible offers himself for re-election as a Director, be re-elected as a Director” Total Proxies received 5
Slide 24: Resolution: Remuneration Report
Resolution 2 rsonal use only Remuneration Report “ That the Remuneration Report be adopted” Total Proxies received 16,357,465 Shareholders exclusions 39,516,062 Votes received FOR ( incl Open to Chair) 16,312,465 Votes received AGAINST 45,000 Abstentions 0
Slide 25: Other Business
rsonal use only Other Business
Slide 26: Disclaimer and Notes
Disclaimer and Notes • The purpose of this presentation is to provide general information about Oldfields Holdings Limited (Company). It is not recommended that any person makes any investment decision in relation to the Company based solely on this presentation. This presentation does rsonal use on
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