Lindsay Australia Limited · ASX:LAU
Lindsay Australia — H1 2014 Earnings Presentation
37 slides from Lindsay Australia's earnings presentation, Mar 3, 2014
Slide 1: Investor Presentation Half Year 2013 Results
For personal use only Investor Presentation Half Year 2013 Results
Slide 2: Disclaimer
Disclaimer For personal use only Despite anything stated in this notice or elsewhere in the document, none of the information (whether considered separately or together) constitutes an offer, invitation, solicitation, advice or recommendation with respect to the issue, purchase or sale of any shares
Slide 3: Contents
For personal use only Contents
Slide 4: Contents
Contents For personal use only 1. Overview page 5 2. Shareholder Information page 12 3. Lindsay Transport page 17 4. Lindsay Rural page 23 5. Dividends page 28 6. Appendices page 30 4
Slide 5: Overview
For personal use only Overview
Slide 6: About Lindsay Australia
About Lindsay Australia For personal use only Lindsay Transport and Lindsay Rural are divisions of Lindsay Australia Limited, a fully integrated transport, logistics, and rural supply company, with a focus on premium standard service to major customers in the food processing, food services, fresh pr
Slide 7: About Lindsay Australia Cont.
About Lindsay Australia Cont. For personal use only Directors • Kim Lindsay CEO and Managing Director • John Pressler Non-Executive Chairman • Les Hancock Non-Executive Director • Richard Anderson Non-Executive Director • Greg Farrell Non-Executive Director Senior Management • Graham Johnston CFO an
Slide 8: Structure
Structure For personal use only Lindsay Australia Limited ABN 81 061 642 733 Lindsay Transport Pty Ltd Lindsay Rural Pty Ltd ABN 62 055 792 919 ABN 80 090 821 300 OVERVIEW 8
Slide 9: Locations
For personal use only OVERVIEW Locations 9
Slide 10: Strategy and Objectives
Strategy and Objectives For personal use only Strategic alignment to refrigerated transport sector Servicing the East of Australia and Western Australia by subcontractor arrangements Growth of The Lindsay Solution in new and existing geographic areas, for rural and transport customers New transport
Slide 11: The Lindsay Solution
The Lindsay Solution For personal use only Lindsay Rural and Lindsay Transport share common customers in the horticulture industry which enables a strategic advantage by providing unique end-to-end service solution to horticulture customers, the Lindsay Solution. Lindsay Rural Inputs Outputs Lindsay
Slide 12: Shareholder Information
Shareholder Information For personal use only
Slide 13: Overview
Overview For personal use only Listed on ASX in 2002 Market Cap of $70 million* Major Shareholders* -Amcor Fibre Packaging 12.1% -Mizikovsky Group 15.9% -Mulawa Holdings 13.4% -The Lindsay Family 19.5% -Washington H Soul Pattison & Co 16.4% Total employees 995 as at 31st December 2013 *As at 28/02/2
Slide 14: Share Performance
Share Performance For personal use only 0.40 6,000 0.35 5,000 0.30 4,000 0.25 0.20 3,000 0.15 2,000 0.10 1,000 0.05 0.00 0 2007 2008 2009 2010 2011 2012 2013 LAU Industrials Index SHAREHOLDER INFORMATION 14
Slide 15: 2013 Half Year Results and Highlights
2013 Half Year Results and Highlights For personal use only 2013 2012 % Increase $’000 $’000 (Decrease) Half Year ended 31st December 2013 Results Revenue 160,292 143,411 11.8 Earnings Before Interest, Tax, Depreciation and 16,142 16,569 (2.6) Amortisation Net Profit after Tax 4,735 5,157 (8.2) Earn
Slide 16: 2013 Full Year Results and Highlights
2013 Full Year Results and Highlights For personal use only 2013 2012 % Increase $’000 $’000 (Decrease) Full Year ended 30th June 2013 Results Revenue 283,465 260,400 8.9 Earnings Before Interest, Tax, Depreciation 28,708 17,592 63.2 and Amortisation Net Profit after Tax 7,181 25 287.2 Earnings per
Slide 17: 2013 Half Year Segmented Performance
2013 Half Year Segmented Performance For personal use only 2013 2012 % Increase $’000 $’000 (Decrease) Transport Divisional Sales 116,035 100,530 15.4 Divisional Profit 11,420 13,365 (14.6) Profit Margin % 9.8% 13.3% Rural Divisional Sales 45,508 44,236 2.9 Divisional Profit 2,859 1,648 73.4 Profit
Slide 18: 2013 Full Year Segmented Performance
2013 Full Year Segmented Performance For personal use only 2013 2012 % Increase $’000 $’000 (Decrease) Transport Divisional Sales 200,561 177,540 13.0 Divisional Profit 20,514 13,727 49.4 Profit Margin % 10.2% 7.7% Rural Divisional Sales 84,497 84,219 0.33 Divisional Profit 3,516 3,690 (0.47) Profit
Slide 19: Lindsay Transport
For personal use only Lindsay Transport
Slide 20: About Lindsay Transport
About Lindsay Transport For personal use only Lindsay Brothers Transport was founded by Thomas and Peter Lindsay in 1953 Purpose-built refrigerated and ambient equipment fleet, over 1,000 vehicles Approximately 90% of revenue derived from food, or food related customers 16 terminals on the east coas
Slide 21: Fleet Distribution
Fleet Distribution For personal use only 600 500 400 300 200 100 0 Forklifts Prime Movers Rigid Trucks Sedans & Utilities Trailers LINDSAY TRANSPORT 19
Slide 22: Operational Statistics
Operational Statistics For personal use only Kilometres: over 53 million kilometres per annum Fuel: over 33 million litres per annum Employees: 859 employees as at 31st December 2013 Fatigue, Maintenance and Mass accredited under National Heavy Vehicle Accreditation Scheme (NHVAS) LINDSAY TRANSPORT
Slide 23: Key Performance Drivers
Key Performance Drivers For personal use only Operational performance – on-time delivery Customer yield – volume of freight and maximising customer relationship Balanced freight – ability to maximise round-trip profitability Load maximisation – ability to load trucks to maximum weight Quality of equ
Slide 24: Divisional Performance
Divisional Performance For personal use only 250,000 25,000 200,000 20,000 150,000 15,000 100,000 10,000 50,000 5,000 0 0 FY09 FY10 FY11 FY12 FY13 Total Divisional Sales inc Inter-Segment Sales Divisional Profit LINDSAY TRANSPORT 22
Slide 25: Lindsay Rural
For personal use only Lindsay Rural
Slide 26: About Lindsay Rural
About Lindsay Rural For personal use only Originally P&H Rural Supplies established in Bundaberg Region in 1984 Rural merchandising of packaging, nutrients, chemicals and fertilisers Portion of customer base in common to Transport and Rural 15 stores located in strategic horticultural and rural area
Slide 27: Operational Statistics
Operational Statistics For personal use only 90 employees as at 31st December 2013 HACCP and Agsafe accredited Product mix: - Fertiliser 16% - Packaging 31% - Chemicals 16% - Nutrients 15% - Irrigation 5% - Other 17% LINDSAY RURAL 25
Slide 28: Key Performance Drivers
Key Performance Drivers For personal use only Sales growth Stock control Customer service Training of sales personnel Labour and property cost control Regional weather and annual rainfall Margin maintenance and improvement LINDSAY RURAL … 26
Slide 29: Divisional Performance
Divisional Performance For personal use only 85,000 4,200 84,000 4,100 83,000 4,000 82,000 3,900 81,000 3,800 80,000 3,700 79,000 3,600 78,000 3,500 77,000 3,400 76,000 3,300 75,000 3,200 FY09 FY10 FY11 FY12 FY13 Total Divisional Sales inc Inter-Segment Sales Divisional Profit LINDSAY RURAL 27
Slide 30: Dividends
For personal use only Dividends
Slide 31: Dividends
Dividends For personal use only A fully franked interim dividend for FY 2014 of 1.1 cents per share has been declared and is payable on 31st March 2014. The company’s dividend re- investment plan continues in force. 2.00 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 FY08 FY09 FY10 FY11 FY12 FY13
Slide 32: Appendices
For personal use only Appendices
Slide 33: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income Half Year Ended 31 th December 2013 For personal use only 2013 2012 $’000 $’000 Revenues 160,292 143,411 Other income 101 120 160,393 143,531 Expenses Changes in inventories 2,334 2,330 Purchase of inventories (38,183) (37,865) Employee benefits expense
Slide 34: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position Half Year Ended 31 th December 2013 For personal use only 31st December 2013 30th June 2013 $’000 $’000 Current assets Cash and cash equivalents 9,931 9,953 Trade and other receivables 41,424 41,554 Inventories 13,459 10,680 Other 1,922 3,843 Total curren
Slide 35: Consolidated Statement of Financial Position Cont.
Consolidated Statement of Financial Position Half Year Ended 31 th December 2013 Cont. For personal use only 31st December 2013 30th June 2013 $’000 $’000 Current liabilities Trade and other payables 24,234 25,024 Borrowings 25,955 25,813 Current tax liabilities 3,224 1,462 Provisions 5,317 4,975 Ot
Slide 36: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Half Year Ended 31 th December 2013 For personal use only 2013 2012 $’000 $’000 Cash flows from operating activities Receipts in course of operations 174,550 152,436 Payments to suppliers and employees (161,321) (139,029) Interest received 328 219 Finance costs p
Slide 37: For personal use only
For personal use only www.lindsayaustralia.com.au 44b Cambridge Street, Rocklea QLD 4108 07 3240 4900