Farm Pride Foods Limited · ASX:FRM
Farm Pride Foods — Shareholder Meeting (November 2024)
18 slides from Farm Pride Foods's shareholder meeting presentation, Nov 20, 2024
Slide 1: Annual General Meeting
Annual General Meeting 20 November 2024 Darren Lurie: Managing Director
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation (“Presentation”) has been prepared by Farm Pride Foods Ltd [ACN 080 590 030] (“FRM” or the “Company”) and is dated 20 November 2024. This Presentation contains summary information about the current and proposed activities of FRM as at the date of thi
Slide 3: 2024 Corporate Summary
2024 Corporate Summary • Financial Year Ending 30 June 2024 (FY24): Total Revenue of $101.8m with Net Loss of ($2.3m). Increase in Revenue of $19m and $6.8m reduction in Net Loss from Financial Year Ending 30 June 2023 (FY23). • EBITDA improvement of $6.8m in FY24 from FY23. • March and April 2024:
Slide 4: Industry overview
Industry overview
Slide 5: Population Growth
Population Growth • 27.1 million people in 2024 • Annual growth of 615,000 people (2.3%) • Net overseas migration of 510,000* * Sourced: Australian Bureau of Statistics https://www.abs.gov.au/statistics/people/populat ion/national-state-and-territory-population/mar- 2024 5 Farm Pride | AGM 2024
Slide 6: Australian Egg Consumption per Capita
Australian Egg Consumption per Capita Source: Australian Eggs https://www.australianeggs.org.au/egg-industry 6 Farm Pride | AGM 2024
Slide 7: Industry Trends - FY24 Highlights
Industry Trends - FY24 Highlights Australian Egg Industry Size • 582 million dozen eggs produced in Australia • 29.35 million pullets and layers hens as at 30 June 2024 (30.08m: 2023) • 21.25 million layer hens as at 30 June 2024 (21.83m: 2023) • Source - Australian Eggs 7 Farm Pride | AGM 2024
Slide 8: Industry Trends - FY24 Highlights
Industry Trends - FY24 Highlights Major Supermarkets • Egg sales branding market share • Private Label value 50.3%, volume 57.1% • Proprietary Label value 49.7%, volume 42.9% • Farming system market share in table below • Source - Circana via Australian Eggs FY 2024 Value Volume Growth by Growth by
Slide 9: Industry Trends - Farm Segment Changes
Industry Trends - Farm Segment Changes Farm Segment Major Supermarkets • Continued growth in all cage- free egg farming systems. • Barn laid largest % growth off a smaller base. • Free range continues to show steady growth. • Cage eggs exit at major retailers targeted for end of 2025. • Source - Cir
Slide 10: Industry Trends - Price and Volume
Industry Trends - Price and Volume Source - Circana via Australian Eggs 10 Farm Pride | AGM 2024
Slide 11: Operations
Operations
Slide 12: Avian Influenza (AI) – May to July 2024
Avian Influenza (AI) – May to July 2024 • Three Farm Pride farms located in the Lethbridge (Victoria) region returned positive results for AI. • Closure of Lethbridge Rocks, Aviary and Kings farms (~360k birds lost). • Australia wide – 2 million birds lost across 16 farms with 3 different strains of
Slide 13: Australian Flock Size and Forecast Egg Production
Australian Flock Size and Forecast Egg Production • This chart is based on chick orders and a bird laying cycle of 60 weeks with an additional two weeks for disposal. • Monthly egg production broadly trended upwards from the second half of 2022 until May 2024, reflecting an upward trend in chick ord
Slide 14: Operations
Operations Continuous improvement focus for improved farm production, manufacturing efficiency and lower costs: • Further changes to senior management team. • New farm managers appointed. • Changes in feed supply arrangements. • Increased preventative repairs and maintenance to minimize process disr
Slide 15: Farm Pride Foods Ltd FY24 Results
Farm Pride Foods Ltd FY24 Results
Slide 16: Historical Profitability and Cash Flow (5 Years)
Historical Profitability and Cash Flow (5 Years) Historical Profit and Loss Results 30-Jun-20 30-Jun-21 30-Jun-22 30-Jun-23 30-Jun-24 Revenue 90,327 76,991 76,577 82,842 101,854 EBITDA 7,261 (3,052) (4,615) (205) 7,045 Net Profit/(Loss) (2,169) (11,971) (19,782) (9,112) (2,345) Historical Cash Flow
Slide 17: FY24 Income Statement
FY24 Income Statement Farm Pride 2024 2023 Income Statement $’000 $’000 Revenue and other income • Trade revenue increased by 17.4% on prior year. The improvement in sales Revenue - trade 97,069 82,677 is attributed to both price and volume impacts. Other income 4,785 165 • Other income – includes A
Slide 18: Thank you to our team, customers, suppliers and shareholders
Thank you to our team, customers, suppliers and shareholders for all of your efforts and support this year.
Farm Pride Foods — Shareholder Meeting (November 2024) on 6ix