Slide 1: Results for Year Ended 30 June 2013
For personal use only GALE PACIFIC LIMITED R E SU LTS F O R Y E A R E N D E D 30 J U N E 20 13
Slide 2: FY13 Review
FY13 Review For personal use only FY13 FY12 FY11 A$M’S A$M’S % Variance A$M’S Sales 120.0 110.5 9% 95.6 EBITDA 18.0 18.0 0% 15.8 EBIT 12.9 12.5 4% 9.9 NPAT 9.1 8.5 7% 7.1 Earnings per share - cents 3.00 2.86 5% 2.42 Dividends per share - cents 2.65 2.45 8% 2.20 Cash from operations 11.5 9.5 21% 11.4
Slide 3: FY13 Results – Key Points
FY13 Results – Key Points For personal use only • NPAT up 7% to a record $9.1 million. • Diluted earnings per share of 3.0 cents. • Return on invested capital 14.9%. • Net Debt of $3.2 million. Net debt / equity ratio 3.8%. • Final dividend 1.35 cents franked to 80%. Full year dividend increased 8%
Slide 4: FY13 Results – Key Points
FY13 Results – Key Points For personal use only • Sales up 9% to $120.0 million. • Sales revenues grew by 8% in Australasia, 22% in the USA (US dollars) and 23% in the Middle East (US dollars). Our International business decreased sales by 27% (US Dollars) due to carry-over inventory in the Japanese
Slide 5: Earnings per Share and Dividends per Share
Earnings per Share and Dividends per Share For personal use only Cents
Slide 6: EBITDA / EBIT / NPAT (A$ Million)
EBITDA / EBIT / NPAT (A$ Million) For personal use only
Slide 7: Operating Cash Flow (A$ Million)
Operating Cash Flow (A$ Million) For personal use only FY07 FY08 FY09 FY10 FY11 FY12 FY13 Capital Expenditure (Gross) (4.0) (3.4) (1.0) (1.2) (0.6) (1.4) (1.5) Dividends Paid - - - - (8.4) (6.9) (7.6)
Slide 8: Cash Flow
Cash Flow For personal use only • Continuation of the strong annual cash flows from operations. Operating cash generated of $11.5 million for FY13, an increase of 21% from $9.5 million in FY12. • Low capital expenditure requirements due to plant capacity investments previously made. In addition, in
Slide 9: Changes in Net Debt (A$ Million)
Changes in Net Debt (A$ Million) For personal use only
Slide 10: Debt Position
Debt Position For personal use only • Net debt at 30 June of $3.2 million compared to $4.1 million at 30 June 2012. This low net debt position at year end was after paying out $7.6 million to shareholders in dividend payments. • Net debt to equity at 3.8%. • Interest cover of 15.0 times (EBIT/intere
Slide 11: Regional Business Unit Results
Regional Business Unit Results For personal use only Australasia Americas Middle East International China (A$’s) (US$’s) (US$’s) (US$’s) (US$’s) FY13 Sales 76.9M 25.9M 9.7M 7.6M 28.6M* Up 8% Up 22% Up 23% Down 27% Up 24% FY13 EBITDA 6.2M 2.1M 1.9M Included in China 7.6M** Down 21% Up 31% Up 19% Incl
Slide 12: Australasia
Australasia For personal use only • Sales increased 8% over the prior year to A$76.9 million. • Part year contribution from the Highgrove Glass Solutions business acquired in December 2012. • Sales declined in Gale’s traditional Australasian markets due to weak consumer demand, price deflation, sign
Slide 13: Americas
Americas For personal use only • Sales increased 22% to US$25.9 million. • Strong sales growth and ranging achieved with most major accounts. • Good summer conditions aided the sale of outdoor shading and screening products in the USA and Canada. • Sales of commercial fabrics slightly down on record
Slide 14: Middle East
Middle East For personal use only • Sales increased 23% to US$9.7 million. • Increased sales in key markets of United Arab Emirates and Qatar. Solid sales again for Saudi market. • Construction activity has shown steady improvement in the region. • Increased sales and demand for Synthesis Commercial
Slide 15: China
China For personal use only • Strong, stable management and technical support teams. • Record volumes, increased efficiencies, improved yields and reduced waste levels contributed to our strongest result from the China operation to date. These efficiency gains have all helped offset higher wage rate
Slide 16: China
China For personal use only • Polymer prices have recorded a small increase over FY12. • Safety statistics (LTI’s) improved by 50% year on year. • Further improved our sourcing from third party Chinese suppliers to procure high quality and lower cost sourced products which continue to become an incr
Slide 17: International Markets
International Markets For personal use only • Sales decreased by 27% to US$7.6 million. • Reduction in sales to the Japanese market due to a carry over of seasonal inventory by our Japanese distributor following record sales in FY12. Gale products are sold through approximately 60 retail groups and
Slide 18: Outlook
Outlook For personal use only • Trading conditions are expected to remain highly competitive in all markets. Retail conditions in Australasia are generally weak but we are seeing improved consumer spending in the USA and improved construction activity in the Middle East. • New management is in place
Slide 19: Disclaimer
Disclaimer For personal use only Statements contained in this presentation, particularly those regarding possible or assumed future performance, estimated company earnings, potential growth of the company, industry growth or other trend projections are or may be forward looking statements. Such stat