Elders Limited · ASX:ELD
Elders — Investor Day (November 2024)
90 slides from Elders's investor day presentation, Nov 21, 2024
Slide 1: Elders Investor Day Presentation
21 November 2024 Elders Investor Day Presentation For personal use only Attached is an Elders Limited (ASX:ELD) presentation to be given today, 21 November 2024, to investors hosted by Elders Limited. The presentation will be given by members of Elders’ management team. Further Information: Mark All
Slide 2: Elders Investor Day Presentation for FY24
For personal use only Elders Investor Day Presentation for FY24 21 November 2024 1 Elders Limited
Slide 3: Disclaimer And Important Information
Disclaimer And Important Information For personal use only The material in this presentation has been prepared by Elders Limited and is general background about Elders' activities and performance at the date of this presentation. The information is in summary form, does not purport to be complete, a
Slide 4: Elders Wool – Melbourne Centre Overview
ELDERS LIMITED EXECUTIVE OVERVIEW Elders Wool – Melbourne Centre Overview A world-first wool handling business and the largest single investment in the Australian wool supply chain this century. For personal use only ~$25m 35,000sqm 3,000sqm 350kw investment warehouse show floor solar system – the s
Slide 5: Agenda
ELDERS LIMITED AGENDA Agenda 09:30 – 10:00 Morning Tea For personal use only 10:00 – 10:10 Executive Overview Mark Allison 10:10 – 10:30 Financial Results Paul Rossiter 10:30 – 10:50 Strategy Anna Bennett 10:50 – 11:10 Elders Rural Services Tom Russo 11:10 – 11:30 AIRR Pete Lourey 11:30 – 11:50 Busi
Slide 6: Executive Overview
For personal use only Executive Overview Presented by Mark Allison (Managing Director and CEO) 5
Slide 7: Key Investment Drivers
ELDERS LIMITED EXECUTIVE OVERVIEW Key Investment Drivers Australia's most trusted agribusiness brand amongst farmers five years in a row For personal use only ▪ Through the cycles ▪ Multi-faceted ▪ Room to grow market ▪ Cost and capital ▪ Network expansion ▪ Resilient balance sheet shareholder value
Slide 8: Earnings Resilience Through Seasonal Volatility
ELDERS LIMITED EXECUTIVE OVERVIEW Earnings Resilience Through Seasonal Volatility Resilient EBIT reflects improving seasonal conditions and client activity notwithstanding lost first quarter earnings First Second Third Fourth For personal use only Eight Point Plan Eight Point Plan Eight Point Plan E
Slide 9: People and Customer Highlights
ELDERS LIMITED EXECUTIVE OVERVIEW People and Customer Highlights For personal use only 2 lost time injuries 45% women in the workforce 9.0 total recordable injury #1 most trusted 21% frequency rate agribusiness brand women in senior positions amongst farmers fifth year in a row¹ 47 77% net promoter
Slide 10: Safety, Health and Wellbeing
ELDERS LIMITED EXECUTIVE OVERVIEW Safety, Health and Wellbeing Sustaining a safer working environment For personal use only Lost Time Injuries (LTI) Total Recordable Injury Frequency Rate (TRIFR)1 6 18.7 15.1 -17% 12.6 3 3 3 Average 10.1 9.0 2 2 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 1. A
Slide 11: Sustainability Performance
ELDERS LIMITED EXECUTIVE OVERVIEW Sustainability Performance On track to achieve Scope 1 and 2 emission targets by 2030 OUR PROGRESS For personal use only CLIMATE TARGETS1 Targets set to reduce our Scope 1 and 2 greenhouse gas emissions: ▪ Focus for 2024 was embedding our sustainability principles i
Slide 12: Financial Overview
ELDERS LIMITED EXECUTIVE OVERVIEW Financial Overview Improved second half unable to fully offset materially impacted first quarter earnings, notwithstanding improving seasonal conditions and client sentiment For personal use only $128.0m 11.3% 129% 36c Underlying EBIT Return on Capital Cash Conversi
Slide 13: Financial Results
For personal use only Financial Results Presented by Paul Rossiter (Chief Financial Officer) 12
Slide 14: Financial Performance Overview
ELDERS LIMITED FINANCIAL RESULTS Financial Performance Overview For personal use only ▪ EBIT within guidance, supported by return to average seasonal conditions in most regions FY24 Underlying EBIT ▪ Achievement of cost targets ▪ Second half EBIT exceeded 2H23 ▪ Thirteen acquisitions in FY24 with on
Slide 15: Five-Year Financial Performance
ELDERS LIMITED FINANCIAL RESULTS Five-Year Financial Performance EBIT within guidance with forecast return to average seasonal conditions forecast in FY25 For personal use only Sales Revenue ($m) Gross Margin ($m) +10.6% +9.8% 3,445 3,321 3,131 653 638 619 2,549 529 2,093 438 FY20 FY21 FY22 FY23 FY2
Slide 16: FY24 Financial Summary
ELDERS LIMITED FINANCIAL RESULTS FY24 Financial Summary Resilient financial result despite below average seasonal and market conditions in the first quarter For personal use only Key metrics ($m) FY24 FY23 Var Var % Sales revenue 3,131.3 3,321.4 (190.1) (6%) Gross margin 637.6 619.0 18.6 3% Gros
Slide 17: Gross Margin Diversification
ELDERS LIMITED FINANCIAL RESULTS Gross Margin Diversification Increasing product diversification through targeted organic and acquisitive growth Total Gross Margin ($m) For personal use only 172.9 -10.6% 652.7 619.0 637.6 158.8 147.0 +8.3% 141.9 FY22 FY23 FY24 123.1 113.7 +38.8% +5.6% 82.6 -5.5% 73.
Slide 18: Cost Growth Excluding New Business
ELDERS LIMITED FINANCIAL RESULTS Cost Growth Excluding New Business Cost excluding growth and transformation increased 1.8%, well below CPI Cost Increase excl. Growth Growth Adjusted Cost Movement² ($m) For personal use only and Transformational Commentary Initiatives ($m) Base Target: ▪ CPI increas
Slide 19: Industry Backdrop – Rural Products
ELDERS LIMITED FINANCIAL RESULTS Industry Backdrop – Rural Products Sales negatively impacted against prior period by a full year of lower crop protection prices FY23 FY24 FY23 FY24 Glyphosate 95%¹ ($/kg) UREA Index ($/tonnes)¹ For personal use only 14.0 9-Yr Mean 1,200 5.1 Std 3.4 Std 10-Yr Mean 1,
Slide 20: Industry Backdrop – Livestock
ELDERS LIMITED FINANCIAL RESULTS Industry Backdrop – Livestock Sustained uplift in livestock markets with improvement seen in volumes traded and prices FY23 FY24 For personal use only NYCI ($/Head) ▪ FY24 index experienced a positive revision (+82%) since September 2023, before reverting 2,500 1,840
Slide 21: Return on Capital
ELDERS LIMITED FINANCIAL RESULTS Return on Capital Materially impacted by first quarter and the cumulative impact of transformation projects ahead of benefits realisation For personal use only Return on Capital (%) Normalised Return on Capital (%) 15.8% -1.2 0.3% 16.9% 0.9% 0.9% 15.8% 0.5% 4.5% 2.8%
Slide 22: Working Capital
ELDERS LIMITED FINANCIAL RESULTS Working Capital Significant progress on inventory reduction, offset by higher debtors at balance date For personal use only Working Capital ($m) Disciplined Capital Management Trade and Other Receivables¹ ($m) Average +157 Balance Date +42 ▪ FY24 average working capi
Slide 23: Net Debt and Financial Ratios
ELDERS LIMITED FINANCIAL RESULTS Net Debt and Financial Ratios Banking covenants maintain headroom with improvement forecast from a normalised first quarter For personal use only Leverage Ratio Interest Cover Gearing Ratio Net Debt, Balance Date ($m) Balance date net debt / EBITDA / net interest Bal
Slide 24: Target Leverage
ELDERS LIMITED FINANCIAL RESULTS Target Leverage Pathway to target in FY25 Q1 (1.5 – 2.0 times), to be driven by normalised first quarter and net debt reduction For personal use only Leverage (times) Leverage Commentary³ + 1.1 ▪ Leverage 2.5 times, normalised for Q1¹ 3.1 ▪ Pathway back to target in
Slide 25: Strategy
For personal use only Strategy Presented by Anna Bennett (Executive General Manager Strategy, Sustainability and Innovation) 24
Slide 26: Simplified priorities: Run, Transform, Innovate & Grow
Option 3 – New Format, simplified priorities For personal use only Compelling shareholder returns Industry leading sustainability outcomes Most trusted Agribusiness brand 5-10% EBIT and EPS growth through the cycles at across health and safety, community, environment and in rural and regional Austra
Slide 27: FY24 progress
ELDERS LIMITED STRATEGY FY24 progress We made significant progress in the first year of the 4th Eight Point Plan For personal use only RUN TRANSFORM INNOVATE AND GROW Maintained #1 position as most Opening of Rockingham and Bolt-on acquisitions including Knight trusted agribusiness brand Ravenhall w
Slide 28: Brand Trust
ELDERS LIMITED STRATEGY Brand Trust Retained our position and the “Most Trusted Agribusiness Brand” For personal use only “We have valued the service Elders have provided “They place the right people in the right branches, to us for many years, often helping in a friendly they tailor themselves to t
Slide 29: Sustainability and Innovation
ELDERS LIMITED STRATEGY Sustainability and Innovation Continued focus on our own sustainability, while supporting farmers and building innovation partnerships across industry For personal use only Progressing sustainability Supporting farmers on their Partnering with leading research initiatives wit
Slide 30: FY25 priorities and focus areas
ELDERS LIMITED STRATEGY FY25 priorities and focus areas We will continue to execute on the plan with an emphasis on optimising, future-proofing and expanding our portfolio For personal use only RUN TRANSFORM INNOVATE AND GROW Continue to invest in customer Continue roll-out of SysMod Wave 2 Maintain
Slide 31: Elders Rural Services
For personal use only Elders Rural Services Presented by Tom Russo (Executive General Manager Network) 30
Slide 32: Business Model
ELDERS LIMITED ELDERS RURAL SERVICES Business Model For personal use only Feed and Digital and Rural Products Agency Services Real Estate Services Financial Services Processing Services Technical Services Retail Wholesale Fee for Service Rural Products Rural Products Livestock Broadacre Loan Brokera
Slide 33: Network Snapshot
ELDERS LIMITED ELDERS RURAL SERVICES OUR BRAND STRATEGY Network Snapshot An expanding network and multiple brand strategy Primary: leveraging and reinforcing our position as the most trusted agribusiness For personal use only Australian Points of Presence brand in Australia QLD/NT 57 8 29 24 6 $12.6
Slide 34: Network Structure
ELDERS LIMITED ELDERS RURAL SERVICES Network Structure Highly tailored businesses operating in diverse market segments For personal use only Elders Griffith (NSW) Elders Naracoorte (SA) Sunfam (QLD) Elders SDEA (WA) Location South-central NSW South-eastern SA Bundaberg, QLD Bunbury, WA Region experi
Slide 35: Priorities and focus areas
ELDERS LIMITED ELDERS RURAL SERVICES Priorities and focus areas ELDERS RURAL SERVICES For personal use only Cost and capital Sustained Margin optimisation diversified growth improvement Ensure cost control and capital Increasing points of presence Capture additional margin efficiency, and streamline
Slide 36: AIRR
For personal use only AIRR Presented by Pete Lourey (Executive General Manager Wholesale) 35
Slide 37: AIRR snapshot
ELDERS LIMITED AIRR AIRR (Australian Independent Rural Retailers) snapshot Our national wholesale platform with scale supporting Elders’ diversification For personal use only 36
Slide 38: Evolution of Australian Independent Rural Retailers
ELDERS LIMITED AIRR Evolution of Australian Independent Rural Retailers Australia’s number one Rural and Peri-urban national warehouse business For personal use only Future State 2024 - 2027 “One Elders” State 2019 - 2023 Historical State 2008 - 2019 • Roll-out of warehouses to all states • 2022 tru
Slide 39: AIRR network snapshot
ELDERS LIMITED AIRR AIRR network snapshot OUR BRAND STRATEGY A nationwide network and multiple brands Primary: leveraging and growing our member base across AIRR & Tuckers For personal use only Secondary: opportunistically acquiring independent stores to grow retail market share 1 1 38 Notes: 1. Als
Slide 40: AIRR's Competitive Advantage
ELDERS LIMITED AIRR AIRR’s Competitive Advantage Maintaining our Unique Value Proposition in the market For personal use only 39
Slide 41: Five pillars of AIRR
ELDERS LIMITED AIRR Five pillars of AIRR For personal use only 40
Slide 42: AIRR Growth Areas
ELDERS LIMITED AIRR AIRR Growth Areas For personal use only 41
Slide 43: eCommerce
ELDERS LIMITED AIRR eCommerce For personal use only WHOLESALE RETAIL AIRR ONLINE FARMERS TUCKERS PET & AIRR AG, HORSE & PET WAREHOUSE MAILBOX PRODUCE ▪ Independent retailer access ▪ Pure e-commerce operation ▪ E-commerce with option for ▪ E-commerce with option for ▪ Launched 2024 ▪ Ecommerce from a
Slide 44: Market Potential
ELDERS LIMITED AIRR Market Potential AIRR total sales 2024 by postcode For personal use only Source: AIRR, Kynetec 43
Slide 45: Closing
ELDERS LIMITED AIRR Closing For personal use only Past, Present Competitive Market Future Advantage Potential ▪ Warehouse ▪ Market Share ranging from low single ▪ Warehouse Uplift ▪ No MOQ’s digit to 60% ▪ Efficiency focus with warehouse ▪ Conference and Warehouse Days ▪ Currently have private label
Slide 46: Business Development and Acquisition of Delta Agribusiness
For personal use only Business Development and Acquisition of Delta Agribusiness Presented by Kiim Lim (Executive General Manager Business Development) 45 Elders Limited
Slide 47: Business development overview
ELDERS LIMITED BUSINESS DEVELOPMENT Business development overview Our systemised process supports acquisition & greenfield opportunities For personal use only A systemised process is in place from offer to 07 Post implementation integration to efficiently manage bolt-on acquisitions review with inte
Slide 48: Acquisition principles
ELDERS LIMITED BUSINESS DEVELOPMENT Acquisition principles We focus on opportunities with strong returns & business fit For personal use only Disciplined in pursuing corporate acquisition growth under the following principles: • Aligns with Elders’ strategy, values and sustainability ambitions, part
Slide 49: FY24 growth pipeline achievements
ELDERS LIMITED BUSINESS DEVELOPMENT FY24 growth pipeline achievements 13 acquisitions completed with annualised EBIT contribution of ~$14.2million HIGHLIGHTS Opportunities sourced through network relationships, corporate advisors For personal use only and business brokers FY24 Business Development p
Slide 50: FY25 growth pipeline
ELDERS LIMITED BUSINESS DEVELOPMENT FY25 growth pipeline Completed 3 bolt-on acquisitions to date A strong pipeline continues into FY25 Key strategic gap areas For personal use only HIGHLIGHTS Finance broker and advisory business focussed on agribusiness Completed 1 November 2024 Ray White Tamworth
Slide 51: Acquisition of Delta Agribusiness
For personal use only Acquisition of Delta Agribusiness 50 Elders Limited
Slide 52: Delta is a rural products and advisory services business
ELDERS LIMITED ACQUISITION OF DELTA AGRIBUSINESS Delta is a rural products and advisory services business Established in 2006, Delta is an Australian agribusiness providing rural products and advisory services through a network of 68 locations and approximately 40 independent wholesale customers For
Slide 53: Acquisition rationale
ELDERS LIMITED ACQUISITION OF DELTA AGRIBUSINESS Acquisition rationale For personal use only Fully aligned to Elders’ core strategy and corporate acquisition principles Continues Elders’ successful track record of growing the business through disciplined acquisitions Complementary geographic footpri
Slide 54: Consistent with Elders' corporate acquisition principles
ELDERS LIMITED ACQUISITION OF DELTA AGRIBUSINESS Consistent with Elders’ corporate acquisition principles The rationale and impact of the Acquisition adheres to Elders’ corporate acquisition principles For personal use only Aligns with Elders’ strategy, values and Enhances business Enhance
Slide 55: Complementary geographic footprint
ELDERS LIMITED ACQUISITION OF DELTA AGRIBUSINESS Complementary geographic footprint Delta’s geographic footprint is highly complementary to Elders’ and fills key network gaps in New South Wales, North West Victoria, South Australia and Western Australia For personal use only Elders today Delta today
Slide 56: Enhances Elders' technical expertise and offering
ELDERS LIMITED ACQUISITION OF DELTA AGRIBUSINESS Enhances Elders’ technical expertise and offering Extends Elders’ existing crop protection and animal health For personal use only Addition of specialist and technical expertise to support offering through complementary private label portfolio innovat
Slide 57: Potential to generate meaningful synergies
ELDERS LIMITED ACQUISITION OF DELTA AGRIBUSINESS Potential to generate meaningful synergies The combination of Elders and Delta is expected to generate annual net EBITDA synergies of approximately $12 million predominantly achieved through proven backward integration For personal use only Estimated
Slide 58: Light touch integration approach
ELDERS LIMITED ACQUISITION OF DELTA AGRIBUSINESS Light touch integration approach Elders has a strong track record of successful business combinations and will safeguard the culture and strengths of Delta while maintaining robust Board based governance oversight For personal use only ▪ Elders has
Slide 59: Systems Modernisation
For personal use only Systems Modernisation Presented by Viv Da Ros (Chief Information Officer) 58
Slide 60: AS400 core system used in Elders today
ELDERS LIMITED SYSTEMS MODERNISATION AS400 Core system used in Elders today… For personal use only 1959 IBM released RPG code (used on AS400) 14.5m Lines of code in AS400 1990 AS400 deployed in Elders 7+ 2012 Additional ERPs Deployed across the business (light touch acquisitions) SAP deployed in Eld
Slide 61: Replacing the AS400 & SAP – Wave Methodology
ELDERS LIMITED SYSTEMS MODERNISATION WHAT? Replacing the AS400 & SAP – Wave Methodology For personal use only Wave 0 Wave 1 Wave 2 Wave 3 Wave 4 Wave 5 Wave 6 SCOPE Design, planning, Internal financial Livestock and Opportunity to solution & partner Supply chain and D365 is the new and people tradin
Slide 62: Systems Modernisation: Why? On Track
ELDERS LIMITED SYSTEMS MODERNISATION WHY? 1 On Track Keep our For personal use only Total Wave 2 business FY23 FY24 Total Budget (Ongoing) Implementation Wave 2 growing $m $m $m $m CAPEX 2.3 17.4 19.7 24 - 27 2 OPEX - 5.3 5.3 16 - 18 To better serve our clients (non underlying) Total 2.3 22.7 25.0 4
Slide 63: Systems Modernisation: When?
ELDERS LIMITED SYSTEMS MODERNISATION WHEN? 2024 2025 2026 For personal use only Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Jul Oct Jan Apr Jul Oct Jan Apr Jul Branch HW rollout WAVE 2 RETAIL MBH1 Branch D365 Rollout WAVE 3 Design, Build Test Roll out LIVESTOCK WAVE 4 Design, Build Test Roll out D365 & CRM WAVE 4 De
Slide 64: Agency Services
For personal use only Agency Services Presented by Dave Adamson (General Manager Agency Services) 63 Elders Limited
Slide 65: Livestock performance and market context
ELDERS LIMITED AGENCY SERVICES Livestock performance and market context Livestock price recovery a tailwind, supporting out performance against the prior period National Young Cattle Indicator (c/kg lwt) For personal use only National cattle sales volume (millions of cattle)1 14.9 400 13.4 13.3 1.6
Slide 66: Livestock Outlook
ELDERS LIMITED AGENCY SERVICES Livestock Outlook Volumes may be impacted by drier conditions in SA and VIC. Increased sheep slaughter rates anticipated to continue, bolstered by favourable export market Australian cattle herd (million head) as at 30 June US beef net trade balance (exports – imports)
Slide 67: Wool performance, market context and outlook
ELDERS LIMITED AGENCY SERVICES Wool performance, market context and outlook Improvement in margin in FY24 driven by move to Elders handling facility. Prices expected to remain steady, reflecting subdued global spend on discretionary items Elders' wool volumes and earn per bale Eastern Market Indicat
Slide 68: Agency progress and priorities
ELDERS LIMITED AGENCY SERVICES Agency progress and priorities Focus on expanding footprint, enhancing digital capability and improving efficiency For personal use only Improve efficiency Closing Enhancing and output of geographic gaps digital tools Elders Wool 67
Slide 69: Financial Services
For personal use only Financial Services Presented by Nick Clark (General Manager Financial Services) 68 Elders Limited
Slide 70: Elders Finance Services
ELDERS LIMITED FINANCIAL SERVICES Elders Finance Services For personal use only Rural Personal Business Livestock Wool Products ▪ Home loans ▪ Agri loans ▪ Livestock Funding (commercial) ▪ Wool Cash Advances ▪ Rural Products pre-payment ▪ Personal loans ▪ Commercial loans ▪ Stud Plus (Stud Stock) ▪
Slide 71: Business overview
ELDERS LIMITED FINANCIAL SERVICES Business overview Elders Finance provided and distributes a range of finance, insurance and warranty products via the Network and Wholesale Products channel For personal use only Partnerships Elders Finance Livestock in Rural Products Personal Business Livestock tra
Slide 72: Financial Services in Focus
ELDERS LIMITED FINANCIAL SERVICES Financial Services in Focus Significant opportunity for future growth across the financial services portfolio Financial Services Gross Margin ($m) Growth Opportunities For personal use only Other Loan brokerage business launched post Rural Bank exit Loan Brokerage ▪
Slide 73: Growth Plan
ELDERS LIMITED FINANCIAL SERVICES Growth Plan Incremental and sustainable growth across our full suite, through organic and inorganic pathways For personal use only Personal Business Livestock LIT Prepayment Mutual growth Controlled and disciplined expansion Enhanced front line staff product underst
Slide 74: Real Estate
For personal use only Real Estate Presented by Belinda Connor (General Manager Real Estate and Brand) 73 Elders Limited
Slide 75: Elders Real Estate
ELDERS LIMITED REAL ESTATE Elders Real Estate An overview of the Elders Real Estate business For personal use only 19,051 150 $2.2b Properties under Rural Agents1 Broadacre sales management turnover1 $83m 95 $2.3b Gross margin Franchise offices Residential sales contribution turnover1 Statistics bas
Slide 76: Elders Real Estate
ELDERS LIMITED REAL ESTATE Elders Real Estate Gross margin distributed between Rural, Residential and Property Management For personal use only FY24 split of Real Estate Market context gross margin5 (%) ▪ Residential real estate is valued at $11 trillion in Australia, Australia’s largest asset class
Slide 77: FY24 highlights
ELDERS LIMITED REAL ESTATE FY24 highlights A record year for Elders Real Estate For personal use only 10 real estate acquisitions completed 245 new staff added to the network across sales, Property Management and administration Knight Frank Acquisition in Tasmania first metropolitan company owned of
Slide 78: Residential Real Estate market context
ELDERS LIMITED REAL ESTATE Residential Real Estate market context Fundamentals for sales and properties under management remain strong For personal use only A downsizing movement will New listings coming to market Industry consolidation will Low rental housing supply is positively influence listing
Slide 79: Rural Real Estate market context
ELDERS LIMITED REAL ESTATE Rural Real Estate market context Strong buy side factors drive unprecedented demand For personal use only Historically low turnover by volume and value across all states Weak confidence in early 2024 (calendar year) but strengthening in the second half Southern States expe
Slide 80: Rural Real Estate positioning
ELDERS LIMITED REAL ESTATE Rural Real Estate positioning A brand and offer that sets us apart in Rural Real Estate For personal use only Trusted brand Professional sales team backed by the Elders network and technical capability RURAL REAL ESTATE’S SUSTAINABLE COMPETITIVE Experienced local agents ba
Slide 81: Real Estate growth approach
ELDERS LIMITED REAL ESTATE Real Estate growth approach Focus on driving organic growth, expanding market presence through acquisitions, and recruiting top agents For personal use only Organic growth Acquisitions Recruitment ▪ Support sales team with experienced ▪ Continue to acquire business to fill
Slide 82: Rural Products
For personal use only Rural Products Presented by Nick Fazekas (Executive General Manager Rural Products) 81 Elders Limited
Slide 83: Crop Inputs summary
ELDERS LIMITED RURAL PRODUCTS Crop Inputs (Crop Protection, Nutrition) summary For personal use only Crop Inputs FY24 Gross Margin Outlook (% Retail Products Gross Margin) Favourable outlook for summer crop No major supply constraints forecasted, focus on global trade. Starting to see price increase
Slide 84: Crop Protection backward integration
ELDERS LIMITED RURAL PRODUCTS Crop Protection backward integration Delivering profitable growth through execution of our backward integration strategy For personal use only FY24 in review ▪ Achieved 60% addressable market ▪ 8 new TitanAG product registrations and formulation specialists employed ▪ S
Slide 85: Seed summary
ELDERS LIMITED RURAL PRODUCTS Seed summary For personal use only Seed FY24 Gross Margin (% Retail Products Gross Margin) Outlook Strong Summer crop planting outlook 12% for 24/25 sorghum and cotton Priorities Focus on margins, expanding FY24 in review development pipeline, and talent Continued backw
Slide 86: Animal Health & General Merchandise summary
ELDERS LIMITED RURAL PRODUCTS Animal Health & General Merchandise summary For personal use only Animal Health FY24 Gross Margin (% Retail Products Gross Margin) Outlook Normalised Season 8% Predicted La Niña will see increase demand for parasite products Priorities FY24 in review Mild dry summer in
Slide 87: Margin management and efficiency
ELDERS LIMITED RURAL PRODUCTS Margin management and efficiency For personal use only Implemented S&OP for top 70 crop protection actives Reduction in overall inventory especially aged in Crop Protection ($40m reduction) Improved home brand Share of Wallet with backward integration strategy and bette
Slide 88: Priorities and focus areas
ELDERS LIMITED RURAL PRODUCTS Priorities and focus areas For personal use only Expand own brand product segment Leveraging backward integration and synergies with Delta Margin management Enhanced centralised pricing strategy, leveraging new Dynamics platform Efficiency improvements Establishing nati
Slide 89: Open session and Q&A
For personal use only Open session and Q&A Presented by Mark Allison (Managing Director and CEO) 88 Elders Limited
Slide 90: Elders Limited
For personal use only Elders Limited