Slide 1: Audited Financial Results Year ended 30 June 2011
Audited Financial Results Year ended 30 June 2011 PASSION/VITALITY/PRECISION The power of many… The Monarch butterfly (Danaus Plexippus) is considered by many to be the most beautiful of all butterflies, perhaps even the ‘king’ of the order Lepidoptera, hence the name. It is also know for its evolut
Slide 2: Agenda
Agenda 1 2011 in perspective Brian Joffe – Group CE 2 Financial, Bidvest Namibia David Cleasby – Group FD 3 Bidvest South Africa Lindsay Ralphs – Divisional CE 4 Bidvest Foodservice Bernard Berson – Divisional CE 5 The future Brian Joffe – Group CE 6 Comprehensive appendices per division and segment
Slide 3: 2011 in perspective
2011 in perspective Brian Joffe – Group CE PASSION/VITALITY/PRECISION The power of many… www.bidvest.com
Slide 4: 2011 in perspective
Bidvest Group Limited – 2011 in perspective • A reasonable result with a real increase in profits in what remains a soft market overall • Refreshed operating structure implemented quickly, without a hitch and enthusiastically embraced • Made possible because of the flexibility and lack of complicati
Slide 5: Financial, Bidvest Namibia
Financial, Bidvest Namibia David Cleasby – Group FD PASSION
Slide 6: The key F2011 numbers
The key F2011 numbers Revenue © 7.9% to R118.5bn Trading profit © 9.1% to R6.1bn Headline earnings © 9.6% to R3.7bn HEPS © 8.2% to 1157.4cps Adjusted HEPS* © 12.1% to 1199.0cps DPS © 11.1% to 480.0cps Cash generated from operations (after WC) © 2.5% to R8.2bn Net debt R5.0bn (27% of equity) *adjuste
Slide 7: Salient financial points
Bidvest Group Limited – salient financial points • Revenue up 7.9% to R118.5bn (constant currency up 10.4% to R121.2bn) - Safcor Panalpina & Automotive up 23% and 17% respectively • Good cost control (expenses up 5.9%) despite escalating utility tariffs and wages in South Africa - constant currency
Slide 8: Influences on the trading period
Bidvest Group Limited – influences on the trading period Exchange rate: • ZAR relatively strong versus Euro and Sterling, slightly weaker against the Australian dollar • Impact 1.3% on HEPS versus 2.3% in F2010 Working capital • R405.7m retained from working capital • R1.1bn taken out of working cap
Slide 9: F2012 pointers
Bidvest Group Limited – F2012 pointers • Dinatla 12m shares bought back in May 2011 – full impact in F2012 • Number of shares in issue June 30 2011 is 309m versus 319m (3%) • STC in the base for F2012 and shareholders tax will become effective April 2012 • Exchange rate volatility – unpredictable bu
Slide 10: Namibia
Bidvest Namibia (8.8% of group profit) Key points Revenue +9.5% to R2.13bn • Firm US dollar aligned fishing revenue underpinned the result Profit +46.8% to R540.1m • Stronger Namibian dollar – N$6.98 vs. N$7.61 on average 600 • A healthy marine resource 550 • BidCom underperformed - competitive mark
Slide 11: Operating review – Bidvest South Africa
Operating review – Bidvest South Africa Lindsay Ralphs – Divisional CE VITALITY
Slide 12: South Africa - Business conditions
Bidvest South Africa - Business conditions Activity levels • Business cycle upturn is hesitant and the mood of business and households is patchy • Competing demands/pressures on the consumer wallet • Credit extension flat to negative, strict credit granting criteria • Business investment has yet to
Slide 13: Automotive
Bidvest Automotive (4.2% of group profit) Key points Revenue +17.4% to R18.6bn • Automotive is now a focused vehicle retailer Profit +10.7% to R255.4m • Results driven by new vehicle demand 260 • Margins overall remain under pressure R255.4m 240 220 R230.8m The year ahead • Attracting new blood 200
Slide 14: Financial Services
Bidvest Financial Services (10.5% of group profit) Key points Revenue +13.7% to R1.67bn • All financial services and fleet activity now housed under one roof Profit +15.1% to R641.6m • Total assets R3.6bn 700 • Robust liquidity and risk metrics 650 R641.6m • Growth across all activities 600 550 R571
Slide 15: Electrical
Bidvest Electrical (3.0% of group profit) Key points Revenue +3.1% to R4.1bn • Sharp downturn in construction Profit -6.2% to R181.8m • Strict cost control 190 • Now right-sized for a depressed market R193.9m R181.8m 170 The year ahead 150 • Construction to remain weak Margin 130 4.7% Margin • Alert
Slide 16: Freight
Bidvest Freight (14.5% of group profit) Key points Revenue +20.8% to R19.3bn • Low margin billings at Safcor Panalpina drive top line Profit +11.6% to R886.2m • Strong bulk commodity activity 1000 • Capex >R300m 900 • Continued Transnet Freight Rail underperformance R886.2m 800 The year ahead R794.3
Slide 17: Industrial
Bidvest Industrial (1.9% of group profit) Key points Revenue +3.6 to R1.5bn • Challenging manufacturing environment Profit -11.7% to R118.5m • Cash generation remained strong 150 • Buffalo Executape performed well – productivity, new markets 140 • Yamaha increased profits significantly off flat reve
Slide 18: Office
Bidvest Office (3.5% of group profit) Key points Revenue +5.3% to R3.7bn • Technology businesses continued to perform well Profit +9.2% to R215.4m • Waltons Stationery revenue was flat but profit improved 250 • Successful remedial measures to optimise the Furniture value chain 230 210 R215.4m The ye
Slide 19: Paperplus
Bidvest Paperplus (5.3% of group profit) Key points Revenue +7.0% to R3.7bn • General print and packaging markets keenly competitive Profit +4.2% to R325.6m • Mature and new technology offerings ongoing plus 400 • Sprint Packaging acquired 350 The year ahead R325.6m 300 R312.6m • Modest but good qua
Slide 20: Rental and Products
Bidvest Rental and Products (5.3% of group profit) Key points Revenue +9.7% to R1.7bn • Satisfactory trading other than for hotel supply trade Profit +16.3% to R325.9m • Steiner Hygiene and G Fox returned exceptional results 400 350 The year ahead • Bolt on acquisition in safety wear R325.9m 300 • I
Slide 21: Services
Bidvest Services (3.1% of group profit) Key points Revenue +2.2% to R2.9bn • Prestige, excellent result benefitting from World cup and good cost Profit +2.4% to R187.6m control • Strong improvement from Bidvest Magnum and BidTrack 190 • TMS returned a loss, new management taking a fresh look at R187
Slide 22: Travel and Aviation
Bidvest Travel and Aviation (4.5% of group profit) Key points Revenue +8.1% to R1.9bn • A strong result for all businesses Profit +32.3% to R274.2m • Reduced cost base at Travel 300 • Car rental benefitted from better utilisation, pricing and procurement R274.2m • Aviation result doubled on cost sav
Slide 23: Operating review - Bidvest Foodservice
Operating review - Bidvest Foodservice Bernard Berson - Divisional CE VITALITY
Slide 24: Foodservice - Business conditions
Bidvest Foodservice - Business conditions Activity levels • Asia Pacific - positive economic backdrop due to China effect, satisfactory but competitive trading • Europe – a generally fragile economic situation, zero-sum market with little growth • Southern Africa – steady economic growth, price sens
Slide 25: Foodservice – Asia Pacific
Bidvest Foodservice – Asia Pacific (13.6% of group profit) Key points Revenue +11.5% to R19.6bn • All territories recorded strong real growth Profit +14.2% to R833.1m • Natural disasters in Australia & New Zealand presented a challenge 900 • Australia – facilities and reach support market share gain
Slide 26: Foodservice Europe
Bidvest Foodservice Europe - (13.8% of group profit) Key points Revenue -2.2% to R34.7bn • Fiscal difficulties, post GFC consumer hesitancy, sluggish economies Profit -6.2% to R842.5m • Broadly similar trading experiences across the European region 1000 • UK - back to Bidvest Basics at 3663 Wholesal
Slide 27: Foodservice – Southern Africa
Bidvest Foodservice – Southern Africa (5.8% of group profit) Key points Revenue +0.7% to R5.4bn • Foodservice being modernised, aligned with international model Profit -15.0% to R356.1m • Reinvestment in infrastructure and logistics, rationalising for efficiency • Food inflation negative for the per
Slide 28: The Future
The Future Brian Joffe – Group CE PASSION/VITALITY/PRECISION The power of many… www.bidvest.com
Slide 29: The future
The future • Bidvest Board has reaffirmed its belief in the Bidvest business model and confidence in its people • Strategy is to grow organically and acquisitively in business services and foodservice • Continue to consider adding new activities if they dovetail with the Bidvest way of doing things
Slide 30: Appendix: Financials for the year ended June 2011
Appendix 1 Financials for the year ended June 30 2011 PRECISION
Slide 31: Managing for financial sustainability
Managing for financial sustainability Financial • A decentralised operating model that encourages entrepreneurship but with strict financial disciplines and controls Currency risk • Our businesses are managed for local conditions and local currency • Currency is but one variable among numerous exter
Slide 32: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% • R2,7 billion adverse exchange rate impact on revenue just in translation • 49/51 split between Foodservice and Rest of the Group •
Slide 33: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Trading margins 2011 2010 Comment Increase in mix of lower margin business of cle
Slide 34: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Net finance expense (644,0) -15,1% (758,5) (644,2) -15,1% • Benefit of exposure t
Slide 35: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Net finance expense (644,0) -15,1% (758,5) (644,2) -15,1% Associate Income 98,2 +
Slide 36: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Net finance expense (644,0) -15,1% (758,5) (644,2) -15,1% Associate Income 98,2 +
Slide 37: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Net finance expense (644,0) -15,1% (758,5) (644,2) -15,1% Associate Income 98,2 +
Slide 38: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Net finance expense (644,0) -15,1% (758,5) (644,2) -15,1% Associate Income 98,2 +
Slide 39: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Net finance expense (644,0) -15,1% (758,5) (644,2) -15,1% Associate Income 98,2 +
Slide 40: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Net finance expense (644,0) -15,1% (758,5) (644,2) -15,1% Associate Income 98,2 +
Slide 41: Consolidated Income Statement
Consolidated Income Statement Avg Avg 2011 in constant currency Year ended June 30 2011 R/£11,18 R/£12,05 R/£ 12,05 Revenue 118 482,7 +7,9% 109 789,2 121 185,6 +10,4% Trading profit 6 061,7 +9,1% 5 554,7 6 127,4 +10,3% Net finance expense (644,0) -15,1% (758,5) (644,2) -15,1% Associate Income 98,2 +
Slide 42: Consolidated cash flow statement
Consolidated cash flow statement – Rm’s Year ended June 30 2011 Year ended June 30 2010 7782 Cash generated from ops pre wc 7229 406 Working capital utilised 685 -559 Net Finance charges -660 -1577 Taxation -1167 -1560 Distributions -1302 -3878 Cash effects of investment act’s -4847 -340 Cash effect
Slide 43: Net working capital days
Net working capital days 16 8 11 9 15 8 Net days 33 31 30 30 30 31 Debtors days 33 30 32 34 33 34 Stock days Creditors days -50 -53 -51 -55 -48 -57 H1 2009 F 2009 H1 2010 F 2010 H1 2011 F 2011 Working capital position typically spikes in H1 but improves in H2 • Inventory - in line with prior year du
Slide 44: Net working capital flows vs cash generated
Net working capital flows vs cash generated Net working capital Cash generated by operations 5 4.2 4 3.8 3.6 3.3 3.5 3.5 3 2.3 2 1.4 Rbn 1.1 1 0 -1 -0.4 -1.0 -2 -3 -2.4 H1 2009 F 2009 H1 2010 F 2010 H1 2011 F 2011 • Seasonal absorption of working capital but lower than previous half year cycles • H2
Slide 45: Gearing
Gearing Net interest-bearing debt (Rbn) Interest cover (x) 9.0 10.0 8.0 9.2 9.1 9.0 7.9 8.0 7.0 7.2 7.0 6.0 6.6 Target interest cover range 5.9 6.0 5.0 4.7 4.8 5.0 5.0 4.0 4.6 3.9 4.0 3.0 4.1 3.0 2.0 2.0 1.0 1.0 0.0 0.0 H1 2009 F 2009 H1 2010 F 2010 H1 2011 F 2011 • Net interest cover of 9,1x exceed
Slide 46: Revenue and Profit by geography and contribution
Appendix 2 Revenue and Profit by geography and contribution PASSION
Slide 47: Revenue and Profit by geography and contribution
Revenue and Profit by geography and contribution F2011 F2010 55% 53% 44% 32% Revenue 15% Southern Africa 16% Asia Pacific 14% 16% Europe Trading Profit 13% 73% 71% 13% Revenue Trading Profit Contribution F2011 F2010 F2011 F2010 Foodservice 49% 52% 33% 36% Rest of Group 51% 48% 67% 64% 47 Audited res
Slide 48: Segmental results analysis: Bidvest South Africa
Appendix 3 Segmental results analysis Bidvest South Africa VITALITY 48
Slide 49: Automotive – driven by new car demand
Bidvest Automotive – driven by new car demand • Motor retail Current contribution to Group Trading Profit • BMW/Mini, General Motors, Land Rover/Volvo, Mercedes-Benz, Chrysler/Jeep/Dodge/Mitsubishi, Nissan/Fiat/Alfa/ Renault, Peugeot/ Citroen, Toyota/Lexus/Hino, Volkswagen/Audi, Suzuki, Ford/Mazda,
Slide 50: Automotive: Salient features
Bidvest Automotive – driven by new car demand Salient features of the year under review • Following the Bidvest South Africa realignment Automotive is now a focused vehicle retailer • New vehicle unit sales up 22% to 36 269 – relative pricing advantage now versus used and improving replacement deman
Slide 51: Automotive: Strategic imperatives and prospects
Bidvest Automotive – driven by new car demand Strategic imperatives and prospects • Selective management changes have been implemented • New blood is being attracted to McCarthy • Scope for additional productivity improvements have been identified and are being rolled out • Relocated and slimmed dow
Slide 52: Financial Services – an expanded offering
Bidvest Financial Services – an expanded offering • Retail and corporate banking Current contribution to Group Trading Profit • Travel and corporate foreign exchange • Trade services • Lending and deposit-taking • Fleet and asset financing 10.5% • Short term insurance • Life insurance 52 Audited res
Slide 53: Financial Services: Salient features
Bidvest Financial Services – an expanded offering Salient features of the year under review • Banking equity base now R1.3 billion, total assets R3.6 billion, deposits R1.4 billion • R650 million acquisition of Fleet Services successfully integrated • Significant investment in people capacity and ph
Slide 54: Financial Services: Strategic imperatives and prospects
Bidvest Financial Services – an expanded offering Strategic imperatives and prospects • Strategically very well positioned at key sites in southern Africa • Growing visibility and brand recognition • Increased market penetration across insurance and life products and via distribution channels • Yama
Slide 55: Electrical – stresses of a declining market
Bidvest Electrical – stresses of a declining market Distributor of electrical products and services Current contribution to Group Trading Profit • Voltex (umbrella brand) – Versalec Cables – WACO 3.0% – Cabstrut – Sanlic – Atlas (cables) 55 Audited results for the year ended June 30 2011
Slide 56: Electrical: Salient features
Bidvest Electrical – stresses of a declining market Salient features of the year under review • Revenue flat for the period with profits down 6%, significantly below peak year of 2008 • Benefits of sharpened focus within the new Bidvest South Africa structure • The business has been hard hit by the
Slide 57: Freight – buoyant bulk
Bidvest Freight – buoyant bulk • Bulk Connections Current contribution to Group Trading Profit • Island View Storage • Bidfreight Port Operations • Rennies Distribution Services • SACD Freight 14.5% • South African Bulk Terminals • Naval • Safcor Panalpina • Manica 57 Audited results for the year en
Slide 58: Freight: Salient features
Bidvest Freight – buoyant bulk Salient features of the year under review • Bulk activity buoyant, particularly in exports of commodities • Automotive volumes continued to improve • Port authority lease charges increased substantially following re-negotiation – straight lining effect • Transnet Freig
Slide 59: Freight: Capex and prospects
Bidvest Freight – buoyant bulk • Bulk Connections: R200m capex programme underway at strategic Durban site to be completed in 2012; 25 year lease renewal at substantially higher rental; Transnet Freight Rail has failed to provide a commensurate level of service resulting in the need for extra road t
Slide 60: Industrial – a mixed trading picture
Bidvest Industrial – a mixed trading picture • Yamaha Distributors Current contribution to Group Trading Profit • Afcom packaging and fastening products • Buffalo self-adhesive tape • Vulcan Industrial Catering Equipment • Materials Handling (Nissan forklift trucks) 1.9% • Berzack range of products
Slide 61: Industrial: Salient features
Bidvest Industrial – a mixed trading picture Salient features of the trading year • Each of the six businesses have distinct identities and no overlaps of consequence • Good brand recognition and established market positions • Afcom: turnover slightly down in a difficult manufacturing environment; n
Slide 62: Office – technology offer leads
Bidvest Office – technology offer leads • Konica Minolta Current contribution to Group Trading Profit • Océ • Waltons • Cecil Nurse Business Furniture • Dauphin seating solutions 3.5% • Seating chair manufacturing • Global Payment Technologies 62 Audited results for the year ended June 30 2011
Slide 63: Office: Salient features
Bidvest Office – technology offer leads Salient features of the year under review • A strong mix of Technology (Konica Minolta, Océ, Global Payment Technologies), Stationery (Waltons), and Furniture (CN, Seating, Dauphin) focused on the needs of the industry, commerce and government Technology: • Ko
Slide 64: Office: Furniture
Bidvest Office – technology offer leads Furniture • The segment remained loss making but remedial measures have been taken to optimise the manufacturing, sales & marketing, and service activities and rationalise stock lines • Cecil Nurse has launched a highly competitive new catalogue, which has bee
Slide 65: Paperplus – export project success
Bidvest Paperplus – export project success • Printing and conversion Current contribution to Group Trading Profit • Sales and Distribution • Wholesale Stationery • Labeling and Packaging products • Personalisation and Mail 5.3% • Alternative Products • Computer consumables 65 Audited results for the
Slide 66: Paperplus: Salient features
Bidvest Paperplus – export project success Salient features of the year under review Expenses well controlled with specific cuts where business units are underperforming or in decline Kolok computer consumables now part of division Print Sales & Distribution • Positive cycle of export project work,
Slide 67: Paperplus: Strategic imperatives and prospects
Bidvest Paperplus – export project success Strategic imperatives and prospects • Successful strategy of adapting to shifts in technology, applications and economic necessity • Project based export activities continue to be actively pursued • Complementary acquisitions • Procurement savings • Food re
Slide 68: Rental & Products – a refreshing result
Bidvest Rental & Products – a refreshing result • Products and services to enhance the working and hospitality Current contribution to environment through hygiene rental equipment, consumables, Group Trading Profit laundry, indoor plants, drinking water and coolers, specialised clothing, hotel toile
Slide 69: Rental & Products: Salient features
Bidvest Rental & Products – a refreshing result Salient features of the year under review • Strong overall segment result at higher level of profitability • Other than Hotel Amenities and Laundries all businesses performed satisfactorily • Steiner Hygiene: a good result at better margin from a refre
Slide 70: Rental & Products: Strategic imperatives and prospects
Bidvest Rental & Products – a refreshing result Strategic imperatives and prospects • Further progress at Steiner and G Fox (garment manufacture and rentals) in F2012 • Bolt on acquisition at G Fox of South Africa’s premier head-to-toe personal safety equipment business • Acquisitions being identifi
Slide 71: Services – security comes through strongly
Bidvest Services – security comes through strongly • Outsourced services including industrial and commercial cleaning, Current contribution to guarding & security, vehicle tracking & recovery, commercial Group Trading Profit landscaping • Prestige Cleaning • Magnum Security 3.1% • TMS industrial cle
Slide 72: Services: Salient features
Bidvest Services – security comes through strongly Salient features of the year under review • A slight rise in both turnover and trading profit with margin steady at 6.5% • Excellent results from both Prestige cleaning and the Magnum security group but counteracted by a loss at TMS industrial clean
Slide 73: Travel & Aviation – up and away
Bidvest Travel & Aviation – up and away Travel management, aviation services and car rental Current contribution to Group Trading Profit • BidTravel • Budget Rent-a-Car • BidAir 4.5% 73 Audited results for the year ended June 30 2011
Slide 74: Travel & Aviation: Salient features
Bidvest Travel & Aviation – up and away Salient features of the year under review • A strong result for all three key businesses driven by the benefits of right-sizing initiatives, disciplined trading (particularly at Budget) and a focus on leveraging good market position • BidTravel: volumes via th
Slide 75: Namibia – fabulous fishing
Bidvest Namibia – fabulous fishing • BidFish Current contribution to Group Trading Profit • Fishing and canning • BidCom • Stationery and office furniture • Electrical supplies 8.8% • Foodservice • Automotive services • Office solutions • Printer consumables • Freight management services and travel
Slide 76: Namibia: Salient features
Bidvest Namibia – fabulous fishing Salient features of the year under review • Net revenue, after disbursements, increased by 19.3% to N$1.92bn • Trading profit increased 46,8% to N$540,2m • US dollar aligned fishing revenue was firm and underpinned the strong result • A stronger Namibian dollar adv
Slide 77: Namibia: BidFish
Bidvest Namibia – fabulous fishing • BidFish • Revenue increased 26.5% to N$1.2bn and trading profit by 64.7% to N$473.5m. A net profit of N$16.7m was realised on the sale of a fishing vessel • Good fish catches, a favourable mix and firm selling prices offset the effects of a stronger currency • Th
Slide 78: Segmental results analysis: Bidvest Foodservice
Appendix 4 Segmental results analysis Bidvest Foodservice PRECISION
Slide 79: Foodservice Asia Pacific – a full serving
Bidvest Foodservice Asia Pacific – a full serving • Australia Current contribution to Group Trading Profit • New Zealand • Singapore • Greater China 13.6% 79 Audited results for the year ended June 30 2011
Slide 80: Foodservice Asia Pacific
Bidvest Foodservice Asia Pacific – a full serving • All territories contributed positively; constant currency consolidated profits up 12.6% in rand • In reporting currencies Australia up 8.1%, New Zealand up 13.6%, Greater China up 28.6% and Singapore up 23.1% with respective contributions to the se
Slide 81: Foodservice Asia Pacific: New Zealand and China
Bidvest Foodservice Asia Pacific – a full serving • New Zealand: sales up 12.5% to NZ$534.7m, profits up 13.6% to NZ$25.7m margin up to 4.8%; economy remained soft with spending subdued; continued investment – two new DCs, IT upgrade, 35 additional trucks and 145 new staff; quake hit Christchurch se
Slide 82: Foodservice Europe – testing times
Bidvest Foodservice Europe – testing times • 3663 Wholesale (UK) Current contribution to Group Trading Profit • Bidvest Logistics (UK) • Deli XL (Netherlands) • Deli XL (Belgium) • Horeca (Middle East) 13.8% • Nowaco (Czech and Slovakia) • Farutex (Poland) 82 Audited results for the year ended June
Slide 83: Foodservice Europe
Bidvest Foodservice Europe – testing times • Economies fragile, no clear line of sight, fiscal cut-backs reinforce customer nervousness • 3663 Wholesale has gone back to basics with its business model and customers, honing in on local relationships, and revamping its livery, catalogues, range and la
Slide 84: Foodservice Europe: 3663 Wholesale and Nowaco
Bidvest Foodservice Europe – testing times • 3663 Wholesale: sales up 8.0% to £994.7m; profit up 3.7% to £34.3m pre exceptional item; margin 3.4% (3.6%); volumes mildly encouraging across all channels; cost per item down 3%; much better H2; small foodservice acquisition in Scotland completed at the
Slide 85: Foodservice Southern Africa – growing on the street
Bidvest Foodservice Southern Africa – growing on the street • Bidvest Foodservice South Africa Current contribution to Group Trading Profit • Bidfood Ingredients • Speciality 5.8% 85 Audited results for the year ended June 30 2011
Slide 86: Foodservice Southern Africa
Bidvest Foodservice Southern Africa – growing on the street • Focus on independent street trade in foodservice continues to yield gains • Foodservice in South Africa being thoroughly modernised in line with Bidvest internationally • Deflation over three quarters with a return to modest inflation in
Slide 87: Foodservice Southern Africa: Ingredients and prospects
Bidvest Foodservice Southern Africa – growing on the street • Ingredients: revenue up 6%, profits down 9%; there was good volume growth in some areas but deflation across certain major product categories (e.g. hog casings and soya isolates) which affected overall sales value; NCP affected by inabili
Slide 88: Corporate – a real estate
Bidvest Corporate – a real estate • Corporate office – Bidvest Properties - Ontime Automotive Current contribution to Group Trading Profit • Bidvest’s strategic property holdings contributed R207.2m in income, up 17% • Investment, other income, corporate costs and Ontime Automotive negative R66.9m 2
Slide 89: Historical performance
Appendix 5 Historical performance Bidvest Group Ltd VITALITY 89
Slide 90: Historic Performance – year to June
Historic Performance – year to June Trading Profit and Margins Returns (annual) 60 8000 50 6000 50 49 40 5.1% Rm 5.4% 39 % 5.2% 5.1% 5.3% 30 36 38 4000 5.2% 31 5.2% 30 4.9% 20 24 2000 4.4% 4.3% 4.4% 4.7% 4.8% 21 21 4.4% 10 4.7% 4.5% 0 0 2006 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 H1 H2 RO
Slide 91: Audited Financial Results Year ended 30 June 2011
Audited Financial Results Year ended 30 June 2011 PASSION/VITALITY/PRECISION The power of many… The Monarch butterfly (Danaus Plexippus) is considered by many to be the most beautiful of all butterflies, perhaps even the ‘king’ of the order Lepidoptera, hence the name. It is also know for its evolut