Slide 1: 125th Annual General Meeting 7th May 2024
125th Annual General Meeting 7th May 2024
Slide 2: Agenda
Agenda • Our Progress • Key Market Trends • Growth Opportunities • Execution • Summary
Slide 3: Profit Progression
Profit Progression Pre-tax profit Basic Earnings per share 22 10.00 20 9.00 18 8.00 16 7.00 14 6.00 12 5.00 10 4.00 8 6 3.00 4 2.00 2 1.00 0 0.00
Slide 4: Total Shareholder Return Index 2013 - 2023
Total Shareholder Return Index 2013 - 2023 Total Shareholder Return Index 2013 to 2023 500 450 400 350 300 250 200 150 100 50 0 Macfarlane Group FTSE All Share Support Services Source: Datastream (a LSEG product) FTSE All Share General Industrials FTSE Small Cap
Slide 5: Key Factors in our Progress
Key Factors in our Progress Focused Breadth of Adding Value Business Model Markets Covered for Customers Longstanding Performance Quality Supplier Driven Culture Acquisitions Partnerships Depth of Strong Investor “Constructive Experience Base Dissatisfaction”
Slide 6: Macfarlane Group Today
Macfarlane Group Today 20,000+ 9 Customers Countries 1,000+ 26,000+ Suppliers SKUs 1,000+ 50,000+ Deliveries Employees per month
Slide 7: Total European Protective Packaging Market
Total European Protective Packaging Market supplied by Distributors - c£6+bn Spain £0.6m 8% UK Benelux £1bn 15% £0.7m 10% Scandinavia £0.7m 10% Germany Italy £2bn 30% £0.8m 12% France £1bn 15%
Slide 8: Key Customer Trends
Key Customer Trends Sustainability Added Automation Value Government Lower Total Legislation Cost Supplier Consolidation
Slide 9: Sales Growth Opportunities - UK
Sales Growth Opportunities - UK Grow Market Share Specialist Design & • Significant Six Manufacture • Innovation Labs • Bespoke Protective Packaging • New Digital Offering • High Value/Fragile Products New Products/Services Quality Acquisitions • TCP • Automation • High Quality Local and Regional •
Slide 10: Sales Growth Opportunities - Europe
Sales Growth Opportunities - Europe Specialist Design & “Follow the Customer” Manufacture • Translate UK Success • Bespoke Protective Packaging • Supplier Rationalisation • High Value/Fragile Products Extend Products/Services Quality Acquisitions • Voidfill • High Quality Regional Companies • On Sit
Slide 11: Operational Improvements
Operational Improvements Site Consolidation In-house Sourcing • East Midlands • MDM • Home Counties • GWP/Suttons/B&D Digitisation Supplier Partnerships • Microsoft Dynamics • Warehouse Management • Strengthen • AI • Extend
Slide 12: Execution – The Importance of our People
Execution – The Importance of our People Our True Differentiation comes from the Our competition has Quality of our trucks/warehouses Our and IT People competition has similar products
Slide 13: Macfarlane
Co’ MACFARLANE
Slide 14: Execution - Investing in our People
Execution - Investing in our People Competitive Reward Management and Incentive Development Programmes Programme Ongoing Training World Class Sales and Development Programme Adding Adding Experience International Skills and Technical Skills
Slide 15: Summary
Summary • Record of sales/profit/EPS growth • Leading market positions in the UK and a start in Europe • Growth opportunity remains strong… • Products/services • Geography • Organic and Acquisition • Investing in our people • Well-positioned to continue our progress
Slide 16: 125th Annual General Meeting 7th May 2024
125th Annual General Meeting 7th May 2024
Slide 17: Resolution 1: Adopt Directors' Report and Accounts
Resolution 1 Adopt the Directors’ Report and the Accounts for the year ended 31st December 2023 Proxy Votes Lodged For/ Discretion: 94,590,207 Against: 0 Vote withheld: 32,906 Being 100% in favour 17
Slide 18: Resolution 2: Approve Directors' Remuneration Report
Resolution 2 Approve Directors’ Remuneration Report Proxy Votes Lodged For/ Discretion: 83,985,172 Against: 10,589,145 Vote withheld: 48,796 Being 88.8% in favour 18
Slide 19: Resolution 3: Declare a final dividend
Resolution 3 Declare a final dividend of 2.65p per share payable on 30th May 2024 Proxy Votes Lodged For/ Discretion: 94,598,708 Against: 1,861 Vote withheld: 48,796 Being 99.9% in favour 19
Slide 20: Resolution 4: Re-elect Aleen Gulvanessian
Resolution 4 Re-elect Aleen Gulvanessian as a director of the Company Proxy Votes Lodged For/ Discretion: 94,494,904 Against: 35,872 Vote withheld: 92,337 Being 99.9% in favour 20
Slide 21: Resolution 5: Re-elect Peter D. Atkinson
Resolution 5 Re-elect Peter D. Atkinson as a director of the Company Proxy Votes Lodged For/ Discretion: 94,517,418 Against: 81,289 Vote withheld: 24,406 Being 99.9% in favour 21
Slide 22: Resolution 6: Re-elect Ivor Gray
Resolution 6 Re-elect Ivor Gray as a director of the Company Proxy Votes Lodged For/ Discretion: 94,483,562 Against: 80,145 Vote withheld: 59,406 Being 99.9% in favour 22
Slide 23: Resolution 7: Re-elect James W. F. Baird
Resolution 7 Re-elect James W. F. Baird as a director of the Company Proxy Votes Lodged For/ Discretion: 94,552,366 Against: 23,725 Vote withheld: 47,022 Being 99.9% in favour 23
Slide 24: Resolution 8: Re-elect Laura Whyte
Resolution 8 Re-elect Laura Whyte as a director of the Company Proxy Votes Lodged For/ Discretion: 94,540,793 Against: 21,235 Vote withheld: 61,085 Being 99.9% in favour 24
Slide 25: Resolution 9: Re-appoint Deloitte LLP as auditors
Resolution 9 Re-appoint Deloitte LLP as auditors Proxy Votes Lodged For/ Discretion: 94,505,882 Against: 92,825 Vote withheld: 24,406 Being 99.9% in favour 25
Slide 26: Resolution 10: Auditors' remuneration
Resolution 10 Authorise directors to determine the remuneration of the auditors Proxy Votes Lodged For/ Discretion: 94,538,009 Against: 61,519 Vote withheld: 23,585 Being 99.9% in favour 26
Slide 27: Resolution 11: Authorise directors to allot shares
Resolution 11 Authorise directors to allot shares Proxy Votes Lodged For/ Discretion: 94,384,389 Against: 205,203 Vote withheld: 33,521 Being 99.8% in favour 27
Slide 28: Special Resolution 12: Allot shares (general authority)
Special Resolution 12 Authorise directors to allot shares up to an aggregate nominal amount of £1,995,000 as if Section 561 of the Companies Act did not apply (general authority) Proxy Votes Lodged For/ Discretion: 94,439,831 Against: 147,561 Vote withheld: 35,721 Being 99.8% in favour 28
Slide 29: Special Resolution 13: Allot shares (specific authority)
Special Resolution 13 Authorise directors to allot shares up to an aggregate nominal amount of £1,995,000 as if Section 561 of the Companies Act did not apply (specific authority) Proxy Votes Lodged For/ Discretion: 91,342,606 Against: 3,244,786 Vote withheld: 35,721 Being 96.6% in favour 29
Slide 30: Special Resolution 14: Re-purchase of own shares
Special Resolution 14 Authorise company to re-purchase its own shares, up to a maximum of 15,960,000 shares (10% of shares outstanding) Proxy Votes Lodged For/ Discretion: 94,427,006 Against: 82,592 Vote withheld: 113,515 Being 99.9% in favour 30
Slide 31: Special Resolution 15: Amend Articles of Association
Special Resolution 15 Adopt amendments to the existing Articles of Association, to modernise the untraced shareholder provision Proxy Votes Lodged For/ Discretion: 94,492,131 Against: 36,757 Vote withheld: 94,225 Being 99.9% in favour 31
Slide 32: 125th Annual General Meeting 7th May 2024
125th Annual General Meeting 7th May 2024