Clover Corporation Limited · ASX:CLV
Clover — Investor Presentation (March 2024)
13 slides from Clover's investor presentation, Mar 20, 2024
Slide 1: Managing Director's Report 6 Months to 31 January 2024
Managing Director’s Report 6 Months to 31 January 2024 20 March 2024
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: Half Year Performance Highlights
Half Year Performance Highlights ♣ Half year Revenue ♣ Building new customers and $27.3m down 39% on products to continue the record 1H23 $44.4m diversifying the revenue base essentially in line with 1H FY22. ♣ Inventory at $34.0m decreased $2.9m on the FY23 ♣ Net Loss after tax $0.6m position ($36.
Slide 4: Sales by Geography
Sales by Geography MEA EU ♣ European sales have declined with impacted by local and export demand. ♣ Middle East sales declined with high levels of inventory needing to be addressed. Asia ANZ ♣ China demand has been impacted by the move of manufacturers to Algae sources of DHA, away from Tuna. ♣ ANZ
Slide 5: Half Year 2024 Results
Half Year 2024 Results ♣ 39% comparative revenue decrease. EU/Middle East growth slowed with AUD million 4D Reported 4D Reported 31 Jan 2024 31 Jan 2023 high inventory and general weakness in infant formula sales. Revenue $27.3 $44.4 * ♣ Expense management has been EBITDA $0.3 $5.7 controlled throug
Slide 6: Balance Sheet 31 January 2024
Balance Sheet 31 January 2024 ♣ Strong Cash AUD Reported Reported management amidst 31 Jan 2024 31 Jul 2023 Movement $M $M $M sales downturn Cash 8.1 9.4 (1.3) ♣ Trade receivables Trade Receivables 13.1 12.0 1.1 impacted by a major Inventories 34.0 36.9 (2.9) customer who has not settled at the Tota
Slide 7: An Update on Growth Platforms
An Update on Growth Platforms Focus on Infant Formula New New Product Market Development Development 6
Slide 8: Growth Platform: New products driving future growth
Growth Platform New products driving future growth ♣ Premneo ♣ Regulatory approval application continues with additional data requirements for safety to be developed. It is expected to take 12-24 months. ♣ Market research with key users and influencers has been conducted to understand Doctors accept
Slide 9: Growth Platform: New products driving future growth
Growth Platform New products driving future growth ♣ Choline ♣ Clover has developed an encapsulation matrix for Choline, a product that is used in nutraceuticals and specified in infant formula. ♣ The new product is moving to scaled-up volumes to undergo shelf life testing normally 12-24 months. ♣ C
Slide 10: Growth Platform: Infant formula update
Growth Platform Focus on Infant formula update Infant Formula ♣ The recovery of the infant formula market post COVID has been a slow process ♣ Global birth rates have declined in 2023 by 1.15% per 1000 people, with significant drops observed in the EU (5.9%) and China (2.3%)* continuing the 5-year t
Slide 11: Growth Platform: New market development
Growth Platform New market development ♣ Clover continues to work with manufacturers in the nutraceutical and food markets for new applications ♣ The Company has invested in oil sourcing operations to assure supply, quality and a competitive price position. The Anchovy market is experiencing severe
Slide 12: 2HFY24 Priorities & Outlook
2HFY24 Priorities & Outlook ♣ Clover remains committed to diversifying its customer base and exploring new markets and products. ♣ Initiatives include: ♣ advancing encapsulated Choline for dry mix applications, ♣ scaling up microencapsulated probiotics to enhance usability, ♣ progressing regulatory
Slide 13: 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