Orora Limited · ASX:ORA
Orora — Shareholder Meeting (October 2024)
24 slides from Orora's shareholder meeting presentation, Oct 16, 2024
Slide 1: Orora Limited Annual General Meeting - Chair's Address
Orora Limited Annual General Meeting 10.30 am Wednesday 16 October 2024 Chair’s Address Good morning ladies and gentlemen. I'm Rob Sindel, Chair of Orora Limited, and I will Chair the meeting today. I hope you enjoyed the short video which was produced in celebration of Orora’s 10th anniversary in D
Slide 2: Board renewal and strategic re-shaping
Board renewal As noted at our AGM last year, two of our directors, Abi Cleland and Sam Lewis, reached their tenure of 10 years dedicated service to Orora and subsequently retired from the Board this year. We are mindful of ensuring an orderly board succession and so have appointed, subject to shareh
Slide 3: Cash generation, dividend, sustainability and governance
Cash generation remained strong with underlying operating cash flow up 47% at $397 million and cash conversion of 80%. The Board declared a final ordinary dividend of 5 cents per share, unfranked. This brought the total dividend in FY24 to 10 cents per share, representing a total dividend payout rat
Slide 4: Managing Director and Chief Executive Officer's Address
Managing Director and Chief Executive Officer’s Address Thank you, Rob. And thank you all for your continued support of Orora. Safety Performance Update A strong focus on continuous safety improvement across the Group during FY24 led to a pleasing improvement in our safety performance. Lost Time Inj
Slide 5: Sustainability reporting and FY24 business and operating highlights
During FY25 Orora will also focus on aligning its Sustainability reporting with the changes to the Corporations Act in Australia focussed on climate-related disclosures. Orora is well placed to reflect these changes, having already achieved Limited Assurance for its Sustainability disclosures over t
Slide 6: Saverglass contribution and binding agreement for sale of OPS
• The first seven months of Saverglass contributed EBIT of €48.8m with EBITDA consistent with the trading update we provided in April. • With a leading position in the premium, high-end wine and spirits market, and a global production footprint, the business is well positioned for the recovery in de
Slide 7: Cans investment and FY25 outlook
Investments in new production capacity and innovative product offerings including digital printing, position our Cans business for further growth. Outlook Finally, before I hand back to the Chair for the procedural part of the meeting, I would like to cover Orora’s outlook for FY25. For the group, o
Slide 8: Annual General Meeting October 2024
Annual General Meeting 16 October 2024
Slide 9: Important information
Important information Forward Looking Statements This presentation contains forward looking statements that involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to Orora. Forward look
Slide 10: Rob Sindel, Chair
Rob Sindel Chair
Slide 11: Board of Directors
Board of Directors Rob Brian Michael Tom Sarah Claude-Alain Sindel Lowe Fraser Gorman Hofman Tardy Chair Managing Director & Independent Independent Independent Independent Chief Executive Officer Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director 4
Slide 12: 2024 has seen a strategic re-shaping of the portfolio
2024 has seen a strategic re-shaping of the portfolio The sale of Orora Packaging Solutions (OPS) transforms Orora into a focused beverage packaging business Portfolio has been transformed Focused beverage packaging and optimised over time building blocks in place Next step in our evolution Sale of
Slide 13: FY24 financial highlights
FY24 financial highlights Includes seven months of Saverglass1 Underlying Earnings Before Underlying EBIT Underlying Net Profit After Interest and Tax (EBIT) excluding Saverglass Tax (NPAT) $404.0m $323.4m $223.7m +26.0% +0.9% +10.2% Underlying Earnings Underlying operating FY24 Total Dividends Per
Slide 14: Sustainability goals
Sustainability goals Circular Economy Climate Change Community Recycled Content GHG reduction Diversity, equity & inclusion Recyclable packaging Energy efficiency Safety & health Recyclable substrates Climate risk analysis Human rights & supply chain Certification Renewable energy Responsible sourci
Slide 15: Corporate governance
Corporate governance Good corporate governance is integral to our culture and business practices Orora’s corporate governance practices for FY24 comply with the ASX Principles and Recommendations 4th edition and are summarised in our Corporate Governance Statement, incorporated into our Annual Repor
Slide 16: Compelling investment proposition
Compelling investment proposition Orora provides investors with a robust and defensive global growth exposure Leadership positions Robust and Well invested assets Long-term customer in attractive diversified business and defensive trading relationships markets model growth profile Disciplined Strong
Slide 17: Brian Lowe, Managing Director and CEO
Brian Lowe Managing Director and CEO
Slide 18: Safety performance update
Safety performance update Lost time injury frequency Recordable case frequency rate (LTIFR)* rate (RCFR)^ 9.5 2.6 5.4 1.6 June 2023 June 2024 June 2023 June 2024 LTIFR* = (Number of lost time injuries / Total number of hours worked for employees and contractors) x 1,000,000 RCFR^ = (Number of record
Slide 19: Our progress on sustainability
Our progress on sustainability We are making good progress with our sustainability goals and commitments Circular Economy Climate Change Community • Achieved 50% recycled content in glass • Engineering, civil earthmoving and • Significant improvement in safety products, up from 38% last year, and on
Slide 20: FY24 operating highlights
FY24 operating highlights Resilient earnings performance across OPS and Australasia, with seven months of Saverglass earnings OPS Global Beverage – Australasia Global Beverage - Saverglass Revenue EBIT Revenue EBIT Revenue EBIT US$1,954.5m US$109.5m A$1,010.9m A$156.4m down 2.7% up 2.0% €427.6m €48.
Slide 21: Binding agreement for the sale of OPS
Binding agreement for the sale of OPS Creates a focused beverage packaging business, and leaves Orora with a strong balance sheet, providing flexibility to pursue future organic growth opportunities and capital management • Sale of OPS to Veritiv Corporation (“Veritiv”), an investee company of Clayt
Slide 22: Orora's defensive growth exposure through Glass and Cans
Orora’s defensive growth exposure through Glass and Cans Leading market positions in Cans and global premium+ spirits and wine packaging Glass1 Cans1 ANZ beer ANZ alcohol 5% 27% Top 3 global premium+ Segment ANZ non- #1 in Australasia Wine Spirits #2 Australasia alcohol 42% 53% 73% Ongoing premium
Slide 23: FY25 outlook
FY25 outlook Group Global Beverage (Saverglass) EBIT outlook remains consistent with August, • Higher full-year EBIT with twelve months of earnings with some volume softness offset by cost compared to seven in FY24 management • Some volume softness in Europe which is expected to persist, but 2HFY25
Slide 24: Thank you
Thank you ororagroup.com/investors