Breville Group Limited · ASX:BRG
Breville — Shareholder Meeting (November 2024)
27 slides from Breville's shareholder meeting presentation, Nov 7, 2024
Slide 1: 2024 Annual General Meeting Presentation
7 November 2024 ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 For personal use only 2024 Annual General Meeting Presentation Please find attached a copy of the Chair’s and CEO’s addresses to shareholders to be delivered at the Annual General Meeting
Slide 2: Chair's Address at 2024 AGM
Chair’s Address at 2024 AGM Slide 1 Good morning and welcome to the 2024 Annual General Meeting of Breville Group Limited. My name is Timothy Antonie, and I am the Chair of the Company. Slide 3 I would like to begin by acknowledging and paying respects to the traditional custodians of the land on wh
Slide 3: Chair's Address (continued)
As planned, inventories reverted to equilibrium after the disruption of Covid, and a net cash position was delivered with strong cash flow of $174.9 million across the year. Breville is well positioned for FY25 and Jim will discuss recent performance. Breville has also made good progress on its sust
Slide 4: CEO's Address (continued)
rebasing, and the Distribution segment delivered solid Gross Profit gains coming off a weak performance in FY23. Slide 15 Looking at Global Segment Theatre performance, the Americas and EMEA delivered positive growth, with both moving to double-digit growth in the second half. APAC reported (5.8%) g
Slide 5: Disclaimer
to the Board, with a special callout for his leadership on the Sustainability Committee. Thank you for all you have done for BRG and know you will be missed. With that, thank you to everyone for joining us today, and I will now hand back to Tim for the rest of the agenda. Disclaimer To the extent th
Slide 6: Annual General Meeting - November 2024
_BRGGROUP Annual General Meeting - 7 November 2024 ————z
Slide 7: Disclaimer
For personal use only Disclaimer To the extent this Presentation contains any forward-looking statements, such statements are not guarantees of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of BRG, its Directors and m
Slide 8: Acknowledgement of Country
Acknowledgement of Country We would like to acknowledge the traditional custodians on whose land we meet today. We would like to pay respect to their Elders: past and present; and further extend that respect to all Aboriginal and Torres Strait Islanders present here today. We celebrate the continuin
Slide 9: Items of Business
Items of Business - 2024 Annual Report - Remuneration Report - Re-election of Lawrence Myers as a Director - Grant of Rights to Managing Director and CEO - Approval of Potential Termination Benefits - Grant of NED Rights to Non-Executive Directors For personal use only re Pe hon *"2) } BRGGROUP Brev
Slide 10: Another year of consistent delivery
“Another year of consistent delivery, with record revenue exceeding $1.5 billion and EBIT of $185.7 million” For personal use only wre Pe he *) BRGGROUP Breve sage @LeLiT BARATZA omisene beanzsom
Slide 11: Revenue and EBIT FY19-FY24
For personal use only 1,600 1,479 1,530 200 186 1,418 172 1,400 156 1,188 1,200 150 136 1,000 952 110 800 760 100 97 600 400 50 200 0 0 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24
Slide 12: Global Product revenue by region
For personal use only FY19 FY24 A$612m (81% of BRG) <--- CAGR of 16.9% ---> A$1,336m (87% of BRG) 325 109 (24%) (18%) 146 357 735 (24%) (58%) (55%) 275 (21%) A$m Americas APAC EMEA
Slide 13: Gross profit and investment spend
For personal use only +11.0% 600 +7.7% 220 215 557 517 200 194 500 180 160 400 140 120 300 13.1% 14.0% 35.0% 36.4% 100 of Sales of Sales Gross Gross 80 200 Margin Margin 60 100 40 20 0 0 FY23 FY24 FY23 FY24
Slide 14: NPAT, EPS and dividends per share
+7.5% 119 120 110 For personal use only 100 80 60 40 20 0 FY23 FY24 35 +8.2% +7.1% 33.0 90 82.7 30.5 77.2 30 80 70 25 60 20 50 40 15 30 10 20 10 5 0 0 FY23 FY24 FY23 FY24
Slide 15: Thank You
Thank You - BRG Global Team - Peter Cowan - Shareholders - Suppliers, Retail Partners and Consumers For personal use only re ye , ee BRGGROUP _ Breville Soge €LELIT BARATIA fChefSteps beanz.com
Slide 16: CEO's Address
For personal use only CEO’s Address Jim Clayton A. y ‘ae & : \ey, Lr a | BRGGROUP _ Breville Soge GLELIT BARATZ A’ fiichefSteps. beanz.com
Slide 17: AGM Agenda
AGM Agenda m= - The Numbers - IHFY25 Update - Closing Remarks For personal use only we re A *3) BRGGROUP Breville Soge SLELIT BARATIA jiChotsteps beanz:com
Slide 18: FY24 financial summary
AUDm FY24 FY23 % Chng • For personal use only Revenue 1,530.0 1,478.6 3.5% Gross Profit 556.9 516.9 7.7% • Gross Margin (%) 36.4% 35.0% EBITDA 245.5 218.2 12.5% EBIT 185.7 172.0 8.0% • EBIT Margin (%) 12.1% 11.6% • NPAT 118.5 110.2 7.5% • Basic EPS (cents) 82.7 77.2 7.1% Dividend per share 33.0 30.5
Slide 19: Revenue, gross profit and margin by segment
Revenue Gross Profit Gross Margin AUDm For personal use only FY24 FY23 % Chng FY24 FY23 % Chng FY24 FY23 Global Product 1,336.0 1,279.2 4.4% 503.0 470.5 6.9% 37.7% 36.8% % Change CC1 2.0% Distribution 194.0 199.3 (2.7)% 53.9 46.4 16.1% 27.8% 23.3% *Cc: constant currency TOTAL 1,530.0 1,478.6 3.5% 55
Slide 20: Global Product segment revenue
GLOBAL PRODUCT SEGMENT REVENUE AUDm % Chng 1H24 2H24 FY24 FY23 % Chng CC1 CC1 CC1 For personal use only Americas 735.5 701.2 4.9% 2.9% (2.2)% 12.0% EMEA 325.2 285.8 13.8% 8.5% 5.5% 12.3% APAC 275.4 292.2 (5.8)% (6.4)% (5.7)% (7.1)% TOTAL 1,336.0 1,279.2 4.4% 2.0% (1.3)% 7.1% 1CC: constant currency •
Slide 21: Opex Aligned to Gross Profit Trajectory
Opex Aligned to Gross Profit Trajectory at 7.6% og™=.2 \ J => a Y Cc Gross Profit increased $40.0m Overall opex [e) or 7.7% increased $26.3m or 7.6% oO Yn =) c nooneeduen fo) rounding n FY23 EBIT Gross Profit D&A Employee Other FY24 EBIT (<b) Cost ©. Commentary ro} * As planned, D&A increased follow
Slide 22: Sales and inventory
Sales Total Inventory Inv % of Sales A$m 1,600 1,418 1,479 1,530 30% 1,400 For personal use only 1,188 31.4% 29.7% 1,200 25% 952 21.8% 1,000 20.0% 20% 18.2% 800 760 16.1% 15% 600 446 440 333 10% 400 217 152 154 5% 200 0 0% FY19 FY20 FY21 FY22 FY23* FY24* GM % 35.7% 33.7% 34.8% 34.3% 35.0% 36.4% * In
Slide 23: Working capital and capital employed
AUDm1 June 24 June 23 Inventory 332.8 439.6 • For personal use only Receivables 282.0 276.8 Trade and other payables (273.2) (261.3) • WORKING CAPITAL 341.6 455.1 • PPE 62.9 53.8 Development costs & software • 86.3 71.8 Goodwill and Brands 324.0 327.2 Other (liabilities) / assets (20.2) (16.9) NET A
Slide 24: AGM Agenda
AGM Agenda - The Numbers m™ - IHFY25 Update - Closing Remarks For personal use only re re A *3) BRGGROUP Breville Soge SLELIT BARATIA jiChotsteps beanz:com
Slide 25: For personal use only
For personal use only • • • • • o o
Slide 26: AGM Agenda
AGM Agenda - The Numbers - IHFY25 Update = - Closing Remarks For personal use only xe re A *3) BRGGROUP Breville Soge SLELIT BARATIA jiChotsteps beanz:com
Slide 27: Annual General Meeting - November 2024
_BRGGROUP Annual General Meeting - 7 November 2024 ————z