Slide 1: Preliminary results year to 31 May 2012
NWF Group plc Preliminary results year to 31 May 2012
Slide 2: Group overview: key highlights from the financial year
Group overview Key highlights from the financial year ¤ Performance in line with expectations, tough market conditions ¤ Solid performances from Feeds and Food ¤ Fuels disappointing, extremely warm winter, record prices, tough economic environment ¤ Successful acquisition & integration of Swan P
Slide 3: Operational highlights: Fuels
Operational highlights Fuels ¤ Challenging market conditions ¤ Extremely warm winter ¤ Record high oil prices ¤ Tough economic backdrop for customers ¤ Successful acquisition & integration of Swan Petroleum ¤ Resource in place to capitalise on a cold winter ¤ Business now streamlined to an ef
Slide 4: Operational highlights: Food
Operational highlights Food ¤ Good performance supported by efficiency gains ¤ More effective overflow stock management in the busy autumn period ¤ New systems and processes implemented across the business ¤ Exit of AB World Foods Feb ’12 ¤ Reductions in cost base aligned to business levels ¤
Slide 5: Operational highlights: Feeds
Operational highlights Feeds ¤ Solid performance despite volatile commodity costs Wheat&Price&LIFFE&& May&12& 220# ¤ 5.2% volume growth against a static market 210# 200# ¤ Particular successes in blend sales, up 30% 190# 180# ¤ Further progress with additional products including 170# Price&per&t
Slide 6: Financial review - income statement summary
Financial review Financial review - income statement summary May 2012 May 2011 Growth £m £m % Revenue Food 42.4 44.2 -4.1% Feeds 133.9 112.6 18.9% Fuels 363.9 307.0 18.5% Total revenue 540.2 463.8 16.5% Operating profit Food 3.0 2.0 50.0% Feeds 2.7 4.0 -32.5% Fuels 0.6 3.3 -81.8% Total operating pro
Slide 7: Financial review - balance sheet summary
Financial review Financial review - balance sheet summary May 2012 May 2011 £m £m Fixed assets (including intangibles) 50.5 46.9 Net working capital 9.5 8.5 Assets employed 60.0 55.4 Pension deficit (17.3) (11.3) Tax provisions (1.5) (3.8) Net debt (15.5) (11.3) Net Assets 25.7 29.0 Net Debt : EBITD
Slide 8: Financial review - net debt summary
Financial review Net debt summary Debt summary Movement in net debt ¤ Committed facilities of £55.0m with RBS until Oct 2015. 20.0 In addition £7m of HP finance is available Facility Facility Drawn 5.2 £m Invoice discounting £44.0m £14.5m 10.0 Revolving Credit Facility £10.0m £0.0m 3.1 15.5 Overdra
Slide 9: Financial review - cash flow summary
Financial review Financial review - cash flow summary May 2012 May 2011 £m £m Cashflows from operating activities Operating profit 6.3 9.3 Depreciation and amortisation 3.1 3.8 Working capital movements (1.2) 3.8 Other (1.2) 0.1 Operating cash flow 7.0 17.0 Interest paid (1.0) (1.2) Tax paid (2.1) (
Slide 10: Development outlook: Fuels
Development outlook Fuels ¤ Third largest fuel distributor in the UK ¤ Low cost depot operating model for competitive advantage ¤ Network built by acquisition with good record of integration ¤ Good track record ¤ Low ROS high ROCE >20% Development strategy ¤ Develop organic growth from existin
Slide 11: Development outlook: Food
Development outlook Food ¤ Market for ambient groceries remains robust ¤ Competitive market working with large food manufacturers and supermarkets ¤ Key value delivered to customers ¤ High levels of service ¤ Low cost ¤ Boughey has a significant market share in North West ¤ Significant invest
Slide 12: Development outlook: Feeds
Customer locations 2012 Development outlook Feeds ¤ Agriculture is an attractive market for the Group – Population growth & food security gives stable, growing markets ¤ Represents the heritage of NWF and a good base has been established to date ¤ NWF now No. 2 ruminant feed producer in the UK an
Slide 13: Summary & outlook
Group overview Summary & outlook ¤ Performance in line with expectations, lower debt than anticipated ¤ Solid performances from Feeds and Food; Fuels disappointing, exceptionally tough market ¤ Successful acquisition & integration of Swan Petroleum ¤ Experienced operational management teams acro
Slide 14: Additional information on NWF Group plc
Group overview Additional information on NWF Group plc ¤ Business backgrounds ¤ Locations ¤ Organisation ¤ Main site photo ¤ Five year financial performance ¤ Ten year divisional track record ¤ Additional market data NWF Group plc Preliminary results year to 31 May 2012 14
Slide 15: Business background: Fuels
Business background Fuels Fuels Fuel Supply of fuels and fuel cards to commercial, domestic and retail customers across the UK Our business ¤ Third largest distributor in the UK ¤ 38,000 customers ¤ 189 people ¤ 17 depots across the UK ¤ 82 tankers ¤ Supply 76 retail petrol stations ¤ Fuel ca
Slide 16: Business background: Food
Business background Food Food Food Consolidation of ambient grocery products to UK supermarkets Our business ¤ 115,000 pallet spaces ¤ 900,000ft2 of warehousing in Wardle and Deeside (North West) ¤ Market leader in the North West ¤ 515 people ¤ 114 trucks, 240 trailers ¤ 99.6% service level ¤
Slide 17: Business background: Feeds
Business background Feeds Feeds Feed Supply of feed to ruminants in the UK – principally dairy Our business ¤ National player – feed one in seven dairy cows in the UK, number two in the market ¤ 486,000 tonnes produced ¤ Feed dairy, beef and sheep ¤ Sell added value products including minerals,
Slide 18: Locations
Group overview Locations Feeds Ayr Penrith Wardle* Wixland Food Deeside Wardle* Fuels Acle Ammanford Babbinswood Bangor Boston Burnley Burwell Droitwich Dyserth Kenilworth Kingsbury Long Marston Nottingham Southampton Stoke Wardle* Yate * Group head office and main operating site. NWF Group plc Prel
Slide 19: Group organisation
Group overview Group organisation Chief Executive Non-Executive Directors Richard Whiting Mark Hudson (Chairman) John Acornley David Southworth Finance Director Company Secretary Johnathan Ford Rob Andrew Food Feeds Fuels Managing Director Managing Director Managing Director Keith Forster Kevin Kenn
Slide 20: Wardle: Group head office and main operating site
Group overview Wardle: Group head office and main operating site NWF Group plc Preliminary results year to 31 May 2012 20
Slide 21: Five year financial performance
Group overview Five year financial performance Revenue Headline EPS 600 14 500 12 10 400 £m 8 p 300 6 200 4 100 2 0 0 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 PBT DPS 5 8 7 4 6 5 3 £m 4 p 2 3 2 1 1 0 0 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 NWF Group plc Preliminary results year
Slide 22: Divisional track records
Group overview Divisional track records Feeds 160 4.0 140 3.5 120 3.0 100 Revenue £m 2.5 PBIT £m 80 2.0 60 1.5 40 1.0 20 0.5 0 0.0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Fuels 400 4.5 350 4.0 3.5 300 3.0 250 Revenue £m PBIT £m 2.5 200 2.0 150 1.5 100 1.0 50 0.5 0 0.0 2003 2004 2005 2006 2
Slide 23: Fuels: additional market data
$ 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 01/06/2011 08/06/2011 15/06/2011 Group overview 22/06/2011 29/06/2011 06/07/2011 13/07/2011 20/07/2011 27/07/2011 03/08/2011 Fuels: additional market data 10/08/2011 17/08/2011 24/08/2011 31/08/2011 07/09/2011 14/09/2011 21/09/2011 28/09/2011 05/10/
Slide 24: Feeds: additional market data
Group overview Feeds: additional market data Price&per&tonne& 200# 210# 220# 230# 240# 250# 260# 270# 280# 290# 300# 310# 320# 330# 340# 350# 360# 370# 380# 390# 400# 410# 420# 430# 440# 450# 01/06/2011# 09/06/2011# 17/06/2011# 27/06/2011# 06/07/2011# 14/07/2011# 22/07/2011# 01/08/2011# 09/08/2011