Pz Cussons Plc · LSE:PZC
Pz Cussons — H1 FY2021 Earnings Presentation
19 slides from Pz Cussons's earnings presentation, Nov 30, 2020
Slide 1: FY21 Interim Results
PZ Cussons Plc Interim results | 30 Nov 2020 FY21 INTERIM RESULTS
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain forward-looking statements relating to expected or anticipated results, performance or events. Such statements are subject to normal risks associated with the uncertainties in our business, supply chain and consumer demand along with risks associated wit
Slide 3: Key Messages
Interim results | 30 Nov 2020 PZ Cussons Plc Key Messages H1 delivered a fast start with emphasis on profitable revenue growth and balance sheet discipline Increase in investment for marketing and capabilities across our organisation Completion of executive team with new CFO, Managing Director UK an
Slide 4: Financial Review
PZ Cussons Plc 4 Interim results | 30 Nov 2020 FY21 INTERIM RESULTS Financial Review
Slide 5: Financial Highlights
Interim results | 30 Nov 2020 PZ Cussons Plc Financial Highlights Group revenue increased by 14.6% driven by the UK with growth in all key markets Focus Brands revenue grew by 21.9% led by Carex with growth in Morning Fresh, Cussons Baby and St Tropez Adjusted profit before tax increased by 18.7% de
Slide 6: Overview of H1 FY21
Interim results | 30 Nov 2020 PZ Cussons Plc Overview of H1 FY21 Revenue and profit growth in all Regions with strong balance sheet Revenue Adjusted Profit before tax Reported Profit before tax £312.9m £34.9m £36.3m +14.6% +18.7% -1.4% PY: £284.0m PY: £30.0m PY: £36.8m Net Debt Free Cash Flow Divide
Slide 7: Europe and Americas
Interim results | 30 Nov 2020 PZ Cussons Plc Europe and Americas Continuing Operations Half Year to Half Year to Reported Constant currency 30 Nov 20 30 Nov 19 % change % change Revenue £117.1m £88.4m 32.5% 32.6% Adjusted operating profit £27.3m £20.5m 33.2% 33.2% Operating margin % 23.3% 23.2% Unpr
Slide 8: Asia Pacific
Interim results | 30 Nov 2020 PZ Cussons Plc Asia Pacific Half Year to Half Year to Reported Constant currency 30 Nov 20 30 Nov 19 % change % change Revenue £95.9m £94.2m 1.8% 4.2% Adjusted operating profit £11.7m £8.2m 42.7% 48.1% Operating margin % 12.2% 8.7% Market share growth in Australia Home
Slide 9: Africa
Interim results | 30 Nov 2020 PZ Cussons Plc Africa Continuing Operations Half Year to Half Year to Reported Constant currency 30 Nov 20 30 Nov 19 % change % change Revenue £94.9m £98.2m (3.4%) 5.9% Adjusted operating profit £2.3m £1.7m 35.3% 43.8% Operating margin % 2.4% 1.7% In Nigeria, Morning Fr
Slide 10: Focus Brands Performance
Interim results | 30 Nov 2020 PZ Cussons Plc Focus Brands Performance 9 out of 14 Focus Brands in growth Indonesia Beauty UK Nigeria UK UK UK Nigeria Asia BD Beauty UK & US Nigeria ANZ Nigeria ANZ Electricals 10
Slide 11: H1 Revenue growth
Interim results | 30 Nov 2020 PZ Cussons Plc H1 Revenue growth Driven by strong performance in Personal Care Personal Care driven by higher hand wash volumes, reduced promotional spend and improvement in mix due to hand sanitisers Beauty volumes impacted by High Street decline offset by reduced prom
Slide 12: Operating Margin
Operating Margin Interim results | 30 Nov 2020 PZ Cussons Plc Improvement offset by marketing & capability investment and FX Underlying business improvement driven by focus brand growth and improved price / mix Increase in marketing spend, reaching 5%+ of Group revenue Investment in capabilities to
Slide 13: Net Debt
Net Debt Interim results | 30 Nov 2020 PZ Cussons Plc Continued Focus given external volatility Net debt 30 Operating Working Sale of Capex Other Sale of Taxation Dividends Net debt 30 Nov 2019 cash flow capital Polish Brand Nutricima Nov 2020 (ex WC) Assets Working capital improved on back of stock
Slide 14: Progress update
PZ Cussons Plc 14 Interim results | 30 Nov 2020 FY21 INTERIM RESULTS Progress update
Slide 15: COVID-19: Remains the key risk and opportunity
COVID-19 Interim results | 30 Nov 2020 PZ Cussons Plc Remains the key risk and opportunity for organisation Safeguard our Supply Chain Support for our Customer Liquidity Employees Continuity Communities Service Continued magnificent reaction from employees Manufacturing has continued with offices cl
Slide 16: Progress update
Interim results | 30 Nov 2020 PZ Cussons Plc Progress update Maintained fast start mind set Continued progress on portfolio review and rationalisation Completion of executive team with new CFO, Managing Director UK and Global Supply Chain Director Accelerated progress on improving capabilities in ma
Slide 17: Strategy Update – 25th March 2021
Interim results | 30 Nov 2020 PZ Cussons Plc Strategy Update – 25th March 2021 Consumer centric with Hygiene, Baby and Beauty at our core Implementation of brand building model to deliver sustainable growth Sustainability at the heart of what we do Dramatically reduce complexity and enable transform
Slide 18: Outlook
Interim results | 30 Nov 2020 PZ Cussons Plc Outlook H1 strong set of results delivering growth and step up in investment Operating landscape remains highly volatile in H2 related to COVID-19, Consumer and cost pressure Plan to continue to increase investment in building brands and capabilities Assu
Slide 19: Thank you
Cussons Thank you