Slide 1: Results for 12 months to 30 June 2008
McPherson’s Limited For personal use only Results for 12 months to 30 June 2008 David Allman Managing Director
Slide 2: Increased profit
Increased profit A$ Million For personal use only June 07 June 08 Sales 319.6 333.9 EBITDA 45.8 54.1 Depreciation / Amortisation (5.4) (6.1) ________________________________________________________________ EBIT 40.4 48.0 Interest cover increased Interest (11.4) (9.8) to 4.9 times ___________________
Slide 3: Balance sheet at 30 June 2008
Balance sheet at 30 June 2008 A$ Million For personal use only June 07 June 08 Fixed Assets (including intangibles) 207.7 212.2 Net working capital 74.1 86.2 $8.2 million working Other (36.7) (38.5) capital due to Oneida and Mita acquisitions ________________________________________________________
Slide 4: EBIT breakdown
EBIT breakdown A$ Million For personal use only June 07 June 08 Consumer Products – Australia 31.7 41.2 – International 7.0 5.8 ________________________________________________________________ 38.7 47.0 Printing 5.0 4.7 259.9 Corporate (3.3) (3.7) ____________________________________________________
Slide 5: Consumer Products division structure
Consumer Products division structure SOURCING For personal use only (Chinese Based) Third Party Sourcing CEO – SAMMY CHAN SUPPLY CHAIN McPHERSON’S CONSUMER PRODUCTS MULTIX Formed by merger of McPherson’s Formed by merger of Multix & Accantia Housewares & Cork in 2003/4 both acquired 2004/5 CEO - MAR
Slide 6: McPherson's Consumer Products: Major product categories/brands
McPherson’s Consumer Products Major product categories/brands For personal use only McPherson’s Results for 12 months to 30 June 2008. 6
Slide 7: MULTIX: Major product categories/brands
MULTIX Major product categories/brands For personal use only McPherson’s Results for 12 months to 30 June 2008. 7
Slide 8: Consumer products division result
Consumer products division result A$ Million For personal use only June 07 June 08 Sales 246.4 263.3 7% increase, 4% excluding EBITDA 40.9 50.0 Oneida and Mita acquisitions Depreciation / Amortisation (2.2) (3.0) ________________________________________________________________ EBIT 38.7 47.0 EBITDA
Slide 9: Consumer products division commentary
Consumer products division Commentary For personal use only • Revenue growth in major brands • Reduction in SKU count/exit low contribution products • NPD programmes working well • Further productivity improvements and overhead reductions • Focus on product profitability McPherson’s Results for 12 m
Slide 10: Consumer products strategy
Consumer products strategy For personal use only Organic growth • New product development • Expand brands into new categories (e.g. success of Swisspers personal wipes & Wiltshire bakeware) • Focus on SKU count and product profitability Bolt-on acquisitions • Acquisitions by McPherson’s Consumer Pro
Slide 11: Printing result
Printing result A$ Million For personal use only June 07 June 08 Sales 73.3 70.7 EBITDA (before equipment leases) 10.4 10.2 Equipment lease expense (2.2) (2.5) Depreciation / Amortisation (3.2) (3.0) ________________________________________________________________ EBIT 5.0 4.7 EBITDA (before equipme
Slide 12: Printing commentary
Printing commentary CEO: Alan Fahy For personal use only • Highly competitive market • Limited growth potential • Ongoing cost reductions through restructuring, efficiency gains and technology investment McPherson’s Results for 12 months to 30 June 2008. 12
Slide 13: Financial objectives
Financial objectives For personal use only • EPS growth driven by Consumer Products Division • ROSF to average 20% p.a. McPherson’s Results for 12 months to 30 June 2008. 13