Big River Industries Ltd. · ASX:BRI
Big River Industries — Investor Presentation (August 2023)
18 slides from Big River Industries's investor presentation, Aug 24, 2023
Slide 1: FY23 Results Presentation
FY23 Results Presentation Big River Industries Ltd (ASX:BRI) 24/08/2023 24/08/2023 1
Slide 2: Contents
Contents 01 Performance Headlines FY23 Presenters John Lorente 03 Growth Momentum Continues CEO & Managing Director 04 Business Overview John O’Connor CFO 05 Divisional Performance 06 Profit & Loss 07 Profitability Waterfall 08 Balance Sheet 09 Capital Management 10 Cash Flow 11 Outlook 13 Appendix
Slide 3: Performance Headlines FY23
01 Performance Headlines FY23 U-EBITDA +7 .3 Underlying EBITDA up Financial Highlights 7.3% on FY22 to $51.5m % with delivering strong EBITDA margin of 11.5%. Revenue +9.8% Working Capital 15 % Balance Sheet .5 performance, net working capital to revenue ratio of 15.5% as compared to 18.1% in pcp. f
Slide 4: Performance Headlines FY23
02 Performance Headlines FY23 Operational Highlights The teams managed industry wide site delays and labour shortages NPAT (Statutory) +4.3% well to record another record result for the Group. Net Profit after Tax continued growth and Increased focus on debtor was up 4.3% on a very strong result in
Slide 5: Growth Momentum Continues
03 Growth Momentum Continues Revenue ($m) EBITDA ($m) U-NPAT ($m) 60 25 500 50 20 400 40 15 300 30 200 10 20 100 5 10 0 0 0 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Cash Conversion Gearing ROFE 1 1 120% 25% 35% 100% 30% 20% 25% 80% 15% 20% 60% 10% 15% 40% 10% 20% 5% 5% 0% 0% 0% FY
Slide 6: Business Overview
04 Business Overview Asset mix 20% of revenue 3 Supply chain diversity Manufactured by BRI 20% of revenue Direct Import by BRI 26 7 Manufacturing 4 Frame & Truss Plywood / panel Sites across major 60% of revenue population centres Sites prefabrication manufacturing plants plants Sourced from local s
Slide 7: Divisional Performance
05 Divisional Performance Revenue EBITDA EBITDA margin AUD in millions FY23 FY22 % Change FY23 FY22 % Change FY23 FY22 Construction products 321.0 292.2 9.9% 39.3 31.9 23.2% 12.2% 10.9% Panels 128.5 117.1 9.7% 19.2 21.4 (10.3%) 14.9% 18.3% Corporate costs - - - (7.0) (5.3) 32.1% - - Total 449.5 409.
Slide 8: Profit & Loss
06 Profit & Loss AUD in millions FY23 FY22 % Change Highlights Revenue 449.5 409.3 9.8% Raw materials and consumables (326.2) (299.3) 9.0% • Revenue up 9.8% driven by organic growth and Gross profit 123.3 110.0 12.1% acquisitions. Operating expenses (71.8) (62.0) 15.8% • Gross margin up 55 basis poi
Slide 9: Profitability Waterfall
07 Profitability Waterfall 2.8% Organic revenue growth of 2.8% delivered 6.5% growth in EBITDA 55bps Gross margin improvement of 55 bps delivered 4.8% growth in EBITDA. 8.3% Acquisitions delivered 8.3% growth in EBITDA. 12.3% Cost increases of 12.3% 24/08/2023 9
Slide 10: Balance Sheet
08 Balance Sheet AUD in millions 30 Jun 2023 30 Jun 2022 Highlights Cash 34.3 19.8 • Strong balance sheet to support the Trade and other receivables 59.9 63.4 growth and acquisition strategy. Inventories 69.5 72.8 • Inventories decreased by $3.3 million Fixed assets 23.9 21.9 (4.5%) – even with $2.2
Slide 11: Capital Management
09 Capital Management AUD in millions 30 Jun 2023 30 Jun 2022 Highlights Total borrowing facility 86.1 68.1 • Net debt decreased by $10.0 Facility drawn 45.5 41.0 million reflecting strong cash Utilisation ratio % 52.8% 60.2% conversion of 112% in FY23 Cash 34.3 19.8 compared to 89% in FY22. Net deb
Slide 12: Cash Flow
10 Cash Flow AUD in millions FY23 FY22 Highlights Receipt from customers 497.8 434.8 • OCFBIT to EBITDA conversion of 112% ahead of 89% in pcp. Payment to suppliers and employees (441.2) (397.3) Government grants 1.0 5.0 • Working capital reduced by 6.2% compares favourably to organic growth of 2.8%
Slide 13: Outlook
11 Outlook Big River’s growth supported by underlying demand • The Outlook for the Group • The commercial remains positive given our • Market growth projects pipeline is at market segment diversity. expected to continue in record levels and should • Current Housing pipeline Queensland and deliver gr
Slide 14: Strategy & Financial Outlook
12 Outlook Strategy & Financial • Our acquisitions strategy • Our Grafton • We will continue to increase has delivered well over the Consolidation project investment in the business past few years, with good which was delayed due over the coming year to to equipment and deliver efficiencies, opportu
Slide 15: Appendix - Profitability
13 Appendix - Profitability AUD in millions FY20 FY21 FY22 FY23 Revenue 248.9 281.4 409.3 449.5 EBITDA - Construction 19.1 16.1 31.9 39.3 - Panels 1.8 10.6 21.4 19.2 - Corporate costs (3.6) (4.2) (5.3) (7.0) Total EBITDA 17.3 22.5 48.0 51.5 Depreciation (7.6) (8.8) (10.8) (11.4) Amortisation (0.7) (
Slide 16: Appendix - Cash Flow
14 Appendix – Cash Flow AUD in millions FY20 FY21 FY22 FY23 EBITDA 17.3 22.5 48.0 51.5 Working capital changes & other items 1.1 (3.9) (5.5) 6.1 Operating cash flow before interest and tax (OCFBIT) 18.4 18.6 42.5 57.6 Interest paid (2.2) (1.7) (2.4) (3.1) Income tax paid (1.3) (2.7) (2.9) (9.3) Oper
Slide 17: Appendix - Capital Management
15 Appendix – Capital Management AUD in millions FY20 FY21 FY22 FY23 Overdraft and trade finance 2.8 1.4 2.5 2.6 Bank bills 25.9 26.0 36.0 41.0 Equipment finance liability 2.0 2.2 2.5 1.9 Less: cash (8.7) (7.8) (19.8) (34.3) Net debt 22.0 21.8 21.2 11.2 Equity 71.7 94.7 112.4 120.7 Funds employed (N
Slide 18: Important Notice and Disclaimer
16 Important Notice and Disclaimer This presentation is dated 24th August 2023. Big River Industries Limited (the "Company") advises that the information contained in this presentation is intended to be general background information about the Company's activities as at the date of this presenta
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