Metro Performance Glass Ltd · NZX:MPG
Metro Performance Glass — Shareholder Meeting (August 2021)
24 slides from Metro Performance Glass's shareholder meeting presentation, Aug 6, 2021
Slide 1: 2021 Annual Shareholders' Meeting
M E TR O P E R FO RMA NC E G L A S S 2021 Annual Shareholders’ Meeting 6 August 2021
Slide 2: Today's agenda
Today’s agenda 1. Welcome and introductions 2. Chair’s address 3. Chief Executive’s address 4. General business and shareholder questions 5. Formal business and resolutions 2
Slide 3: Metro Performance Glass Board of Directors
Metro Performance Glass Board of Directors Angela Bull Mark Eglinton Peter Griffiths Rhys Jones Graham Stuart Russell Chenu 3 Retired from the board in advance of the 2021 ASM
Slide 4: Chair's address
Chair’s address y 7
Slide 5: Key messages
Key messages • The Group displayed resilience throughout FY21, with improved results in Australia and a solid result in the competitive NZ market, while COVID‐19 impacts overshadowed underlying performance. • Strong operating cashflows contributed to significant debt reduction in FY21. • Dividends a
Slide 6: Our strategy and values
Our strategy and values What WO Wh ow OUR VISION OUR PURPOSE FOR CUSTOMERS To be the leader Making lives By providing the best service in glass solutions brighter every day FOR OUR PROEEE By providing a great place to work The Metro Way SAFETY PRODUCT & OUR OUR OWNING PROCESS QUALITY CUSTOMER PEOPLE
Slide 7: Metroglass' dividend policy
Metroglass’ dividend policy • The success of Metroglass’ debt reduction and increased confidence in the Group’s market positions and future financial performance enabled the Board to reassess its approach to capital allocation and dividends • The Board’s current intention is to reinstate dividends a
Slide 8: Chief Executive's address
Chief Executive’s address y 7
Slide 9: Unified and resilient throughout a disruptive year
Unified and resilient throughout a disruptive year OUR PEOPLE • Strong focus on safety and wellbeing • Resilient and united team able to adapt at pace and maintain service to customers • First cohort of staff completed our award-winning Brighter Minds programme • Growing apprenticeship scheme with 8
Slide 10: Significant achievements in FY21
Significant achievements in FY21 • Skills Highway Champion Awards, Metro achieved Highly commended under the champion employer category for our Brighter Minds programme • CFO Awards 2021: Financial Innovation Project of the year for the successfully planned and executed a major finance innovation pr
Slide 11: FY21 key financial outcomes
FY21 key financial outcomes1 GROUP Revenue $232.3m -9% NEW ZEALAND 2 (FY20: $254.9m) Revenue EBIT $179.8m, -11% $19.4m, -27% (FY20: $203.0m) (FY20: $26.4m) EBIT NPAT $17.9m -18% $7.9m -21% (FY20: $21.8m) (FY20: $9.9m) AUSTRALIA Revenue EBIT Net debt Leverage ratio $52.5m, +1% ($0.7m), +$2.9m $48.0m
Slide 12: We regularly engage with our customers to identify the areas that are going well
We regularly engage with our customers to identify the areas that are going well and those where improvement is needed New Zealand Word map of New Zealand customer feedback 7.6 7.9 7.8 (positive then negative mentions) 7.3 7.3 June 2019 November June 2020 December May 2021 2019 2020 Australia 8.0 8.
Slide 13: Trading update: April to July 2021
Trading update: April to July 20211 Activity levels have been solid in both NZ and Australia in the first quarter of FY22 (YTD) • While YTD Group revenue is significantly ahead of last year, any comparisons to Q1 FY21 have little relevance given the Alert-Level 4 shutdown period in New Zealand • Str
Slide 14: Tight labour market adding to supply and capacity pressures
Trading update: April to July 2021 (YTD) Tight labour market adding to supply and capacity pressures • Compared to last year, higher NZ revenues in FY22 YTD are being offset to an extent by increased material costs, supply chain disruptions and the non-repeated 2020 Government wage subsidy • Raw mat
Slide 15: Outlook for FY22 – solid pipeline of work
Outlook for FY22 – solid pipeline of work • Activity levels across both NZ and Australia will likely be stable and sustained at current levels for the rest of the 2021 calendar year • The continued strength in residential building consents provides a positive signal of a strong and stable pipeline o
Slide 16: We remain focussed on our strategy and near-term goals
We remain focussed on our strategy and near-term goals To maintain Metroglass’ Grow and improve Our balance sheet is leadership position in profitability in Australia, strong and robust to New Zealand benefiting from cope with future risks increasing demand for and opportunities double-glazing 16
Slide 17: General business and shareholder questions
General business and shareholder questions 17
Slide 18: Resolutions
vy Resolutions 18
Slide 19: Resolution 1: Auditor remuneration
Resolution 1: Auditor remuneration To consider and, if thought fit, pass the following ordinary resolution: That the Board be authorised to fix the fees and expenses of PwC as Auditor for the ensuing year. 19
Slide 20: Resolution 2: Peter Griffiths
Resolution 2: Peter Griffiths To consider and, if thought fit, pass the following ordinary resolution: That Peter Griffiths be elected as a Director of the Company. While Peter was not required to stand for re-election at this year’s meeting (per NZX Listing Rule 2.7.1), the board prefers that a rel
Slide 21: Resolution 3: Rhys Jones
Resolution 3: Rhys Jones To consider and, if thought fit, pass the following ordinary resolution: That Rhys Jones be elected as a Director of the Company. Rhys retires by rotation per NZX Listing Rule 2.7.1 and offers himself for re-election. 21
Slide 22: Q&A
Q&A 22
Slide 23: Contact information
Contact information Metro Performance Glass Limited 5 Lady Fisher Place, East Tamaki, Auckland 2013 Ph: + 64 9 927 3000 www.metroglass.co.nz/ Simon Mander – Chief Executive Officer Simon.Mander@metroglass.co.nz (+64) 029 636 2661 Brent Mealings – Chief Financial Officer Brent.Mealings@metroglass.co.
Slide 24: Disclaimer
Disclaimer This presentation (“Presentation”) has been prepared by Metro Performance Glass Limited (Company Number 5267882) (“Metro Performance Glass”). Please do not read this Presentation in isolation This presentation contains some forward looking statements about Metro Performance Glass and the
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