Clover Corporation Limited · ASX:CLV
Clover — Investor Presentation (September 2021)
15 slides from Clover's investor presentation, Sep 21, 2021
Slide 1: Managing Director's Report 12 Months to 31 July 2021
Managing Director’s Report 12 Months to 31 July 2021 21 September 2021
Slide 2: Vision, Values and Purpose Statement
Vision, Values and Purpose Statement Vision To optimise the health and development of adults, infants and children. Values Respect, Response, Responsibility Purpose In collaboration with key market participants, Clover develops customised high value nutritional ingredients that enhance the wellbeing
Slide 3: Full Year Performance Highlights
Full Year Performance Highlights ♣ Total full year Revenue ♣ New products continuing to $60.5m down 32.0% on be developed to move forward in new segments and FY20 $88.3m driven by markets reduced demand ♣ Inventory at $30.8m ♣ Net Profit $6.0m down $1.1m on FY20 full year down 51.9% on FY20 $12.5m ♣
Slide 4: COVID-19 Update
COVID-19 Update ♣ Clover has managed the business to a COVID-19 safe plan with the focus on the health and safety of our employees, customers and suppliers ♣ Customer demand has been curtailed by COVID-19 conditions ♣ Clover maintains a relatively high inventory position to act as a buffer to insuff
Slide 5: Sales by Geography
Sales by Geography EU Sales A$000 14,000 12,000 Europe 10,000 ♣ European sales have been slowed by COVID-19 8,000 6,000 restrictions and general activity in the market 4,000 ♣ European infant formula manufacturers have 2,000 reduced sales into China 0 2016 2017 2018 2019 2020 2021 Asia / ANZ Sales A
Slide 6: Full Year 2021 Results
Full Year 2021 Results ♣ 32% year on year revenue decline ♣ Pantry stacking of FY20 and AUD million 4E Reported 4E Reported ongoing COVID-19 restrictions in 31 Jul 2021 31 Jul 2020 FY21 leading to lower volumes and revenue decline. Revenue $60.5 $88.3 EBITDA $9.5 $18.9 ♣ 3% Margin decline impacted b
Slide 7: Balance Sheet 31 July 2021
Balance Sheet 31 July 2021 AUD Reported Reported 31 Jul 2021 31 Jul 2020 Movement $M $M $M ♣ Cash balance strong $9.1m Cash 9.1 9.2 (0.1) Trade Receivables 13.3 16.8 (3.5) ♣ Trade receivables down on FY21 sales Inventories 30.8 31.9 (1.1) against FY20 strong Total Current Assets 54.7 59.1 (4.4) fini
Slide 8: Capital Discipline & Risk Management
Capital Discipline & Risk Management AUD million FY21 FY20 Change Change % ♣ Borrowings Cash $9.09 $9.24 ($0.15) (1.6%) continued to be paid down in line with Borrowings $13.08 $14.52 $1.44 9.9% loan terms Net Debt $3.99 $5.28 $1.29 24.4% Lease Liability $1.11 $0.10 ($1.01) ♣ New lease on Brisbane R
Slide 9: Melody Dairies - New Zealand
Melody Dairies- New Zealand ♣ Clover has 42% ownership of a spray drying facility in Hamilton, New Zealand ♣ The factory had a delayed start up in FY21 due to COVID-19 delays in construction, accreditation and customer acceptance testing ♣ Clover has been impacted by its share of the loss associated
Slide 10: An Update on Growth Platforms
An Update on Growth Platforms Focus on Infant Formula New New Product Market Development Development 9
Slide 11: Growth Platform: New products driving future growth
Growth Platform New products driving future growth ♣ Research & Development maintains a pipeline of new products with excellent progress and prospects for future market growth ♣ Clover has launched two high EPA powders; EPA is a fatty acid recognised for its qualities to reduce inflammation and is b
Slide 12: Growth Platform: Infant formula provides new opportunities
Focus on Infant Growth Platform Formula Infant formula provides new opportunities ♣ Clover is working with several Infant formula manufacturers in the EU, that will come online in FY22 ♣ China’s legislation requiring infant formula to contain a min 15mg/100Kcal of DHA and ARA has been fully approved
Slide 13: Growth Platform: New market development
Growth Platform New market development ♣ Clover has established direct customer contact in China and aligned with new distributors capable of winning business ♣ The Food Ingredients China trade show provided access to new customers, delivering immediate sales opportunities ♣ The Company has maintain
Slide 14: 1HFY22 Outlook & Priorities
1HFY22 Outlook & Priorities ♣ The health & safety of employees, customers and suppliers remains our focus ♣ Supply chain challenges are a focus on obtaining raw materials and ensuring our customers are well serviced ♣ Re-engaging with customers to progress the new product and application pipeline in
Slide 15: Disclaimer
Disclaimer The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions. This