Big River Industries Ltd. · ASX:BRI
Big River Industries — Investor Presentation (August 2020)
13 slides from Big River Industries's investor presentation, Aug 25, 2020
Slide 1: Big River Industries Limited FY2020 Results Presentation
Big River Industries Limited (ASX:BRI) FY2020 Results Presentation – 25 August 2020
Slide 2: Contents
Contents 1. Big River Today 2. Performance Headlines 3. Operational Summary 4. Impact of Significant Events 5. Group Strategy 6. Earnings Summary 7. Balance Sheet 8. Cash Flow 9. FY21 Outlook 10. Appendix 11. Disclaimer
Slide 3: Big River Today
Big River Today Diversified by geography, industry segment, construction type and customer (1) ‒ Formwork Supplies – 24% Target segments ‒ Building Products – 55% ‒ Plywood & Specialty – 21% Detached Housing 5% 0% 8% 0% Commercial 30% High Density Residential 10% Revenue by Medium Density Residentia
Slide 4: Performance Headlines
Performance Headlines ❑ FY20 Revenue of $249m, up 14% on FY19 ❑ Like for like sales declined 4%, ahead of the addressable market decline of 8% ❑ EBITDA of $12.3m (including unwinding earn-out payments not achieved and before acquisition costs) – pre AASB16 Financial Results restatement representing
Slide 5: Operational Summary
Operational Summary ❑ FY20 revenue of $249m was up 14% on FY19 (albeit down 4% on a comparable basis) ▪ Solid organic growth was achieved in WA, NZ and QLD, offset by weaker sales results in NSW and Victoria ▪ Addressable markets fell by circa 8% in FY20, led by the decline in residential starts whi
Slide 6: Impact of Significant Events
Impact of Significant Events COVID -19 COVID-19 BUSHFIRES BUSHFIRES ❑ Impact of the NZ lockdown on Group ❑ Force majeure periods saw disruption to revenue was only 1% log supplies across both manufacturing sites ❑ Australian revenue largely unaffected, other Market & revenue Market & Revenue than ge
Slide 7: Group Strategy
Group Strategy ❑ Product and segment diversification have been the strength of the Group’s strategy ▪ FY20 saw improved segment diversity across all company sites Diversified business ❑ Leverage our Frame & Truss manufacturing in 3 States to further bundle customer offers model ❑ FY20 saw increases
Slide 8: Earnings Summary
Earnings Summary RESULTS SUMMARY Statutory Before AASB16 Key Financial Measures Revenue $248.9m 14.3% FY2020 FY2020 FY2019 REVENUE Change EBITDA (Statutory) 1 $17.7m 79.9% ($m's) ($m's) ($m's) EBITDA (Pre AASB16) 1 $12.3m 25.7% Total Revenue 248.9 248.9 217.8 14.3% NPAT (Statutory) $4.4m 22.
Slide 9: Balance Sheet
Balance Sheet Statutory Before AASB16 30 Jun 20 30 Jun 20 30 Jun 19 ❑ Trade working capital (TWC) as a percentage of revenue was Balance Sheet ($m's) ($m's) ($m's) 17.2% on a rolling 12 month basis (including pro forma Cash 8.7 8.7 1.2 revenue from acquisitions) Receivables 43.6 43.6 43.1 ❑ No incre
Slide 10: Cash Flow
Cash Flow Statutory Before AASB16 FY2020 FY2020 FY2019 ❑ Operating cash flow before interest and tax (OCFBIT) Cash Flow as a percentage of revenue was very strong at 112% ($m's) ($m's) ($m's) on a pre AASB16 basis Receipts from customers 274.6 274.6 235.2 ❑ Allowing for permitted cash deferrals of $
Slide 11: FY21 Outlook
FY21 Outlook ❑ Big River expects the addressable market to be down 10% in FY21 ❑ Homebuilder program showing positive early signs in boosting sales rates for project builders ▪ Three of the Company’s largest 5 trading accounts are project builders ❑ Concerns regarding the office and retail shopping
Slide 12: Appendix
Appendix FY2020 FY2020F FY2020 FY2020 Key Financial Measures FY2017 FY2018 FY2019 PROFIT & LOSS ($m's) FY2017 FY2018 FY2019 Pre AASB16 Statutory Pre AASB16 Statutory Profitability Revenue 177.1 210.9 217.8 248.9 248.9 Revenue $177.1m $210.9m $217.8m $248.9m $248.9m EBITDA (before acquisition costs)
Slide 13: Important Notice and Disclaimer
Important Notice and Disclaimer ▪ This presentation is dated 25 August 2020. ▪ Big River Industries Limited (the "Company") advises that the information contained in this presentation is intended to be general background information about the Company's activities as at the date of this presentation.
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