Foley Wines Ltd. · NZX:FWL
Foley Wines — Shareholder Meeting (November 2023)
25 slides from Foley Wines's shareholder meeting presentation, Nov 16, 2023
Slide 1: Annual Shareholders Meeting 2023
Annual Shareholders Meeting 2023 1
Slide 2: Agenda
FOLEY WINES ASM 2023 ASM 2023 Agenda Introduction Formalities CEO’s presentation Shareholder questions Resolutions Conduct of voting General business Meeting close 2
Slide 3: Introductions
FOLEY WINES ASM 2023 ASM 2023 Introductions PAUL BROCK MARK TURNBULL ROB FOLEY TONY ANSELMI GRANT GRAHAM JANE TROUGHT Chairman Director and CEO Director Director Director CFO 3
Slide 4: CEO's annual results presentation
FOLEY WINES ASM 2023 Annual Shareholders Meeting 2023 CEO’s annual results presentation 4
Slide 5: 2023 Results
FOLEY WINES ASM 2023 PERFORMANCE OVERVIEW 2023 Results The 2023 year was a record for the Company and reflected the work done in building the brands, the continued focus on producing high quality wine and building quality routes to market. At our ASM last year we outlined our goal of an operating pr
Slide 6: Continued premiumisation
FOLEY WINES ASM 2023 PERFORMANCE HIGHLIGHTS Continued premiumisation Case Bottled sales Operating Reported profit sales revenue earnings after tax 584,000 $62.3m $10.2m $6.3m + 11.2% + 13.8% + 31.2% + 2.4% Cases = 9L equivalents (i.e. 12x750ml bottles) 6
Slide 7: Bottled case sales
FOLEY WINES ASM 2023 MARKET OVERVIEWS Bottled case sales New Zealand Australia USA/Canada UK/Europe Rest of world 174,000 cases 120,000 cases 84,000 cases 170,000 cases 36,000 cases + 18% + 20% - 16% + 22% - 5% 7
Slide 8: 2023 Results
FOLEY WINES ASM 2023 PERFORMANCE HIGHLIGHTS 2023 Results Operating Cashflow $10.3m vs $7.6m Capex $14m vs $6.2m (excluding Zebra purchase) The Company completed two marquee projects during the year – the winery expansion at Grove Mill and The Runholder brand home in Martinborough. 8
Slide 9: Grove Mill winery expansion
FOLEY WINES ASM 2023 INVESTING FOR THE FUTURE Grove Mill winery expansion Expansion completed and operational for vintage 2023, increasing the winery’s capacity to 4,000 tonnes.
Slide 10: The Runholder brand home
FOLEY WINES ASM 2023 INVESTING FOR THE FUTURE The Runholder brand home Restaurant, cellar door and distillery open since August. Creating long term emotional connections with brands. 10
Slide 11: 2023 Harvest
FOLEY WINES ASM 2023 PERFORMANCE HIGHLIGHTS 2023 Harvest Total harvest 8,137 tonnes – down 12% on prior year and up 46% on the 2021 harvest. The team in Martinborough had a real challenge dealing with a very wet summer. While we did not experience the devastation of Hawkes Bay, Martinborough certain
Slide 12: Practical, tangible steps to safeguard our environment for future generations
FOLEY WINES ASM 2023 SUSTAINABILITY Practical, tangible steps to safeguard our environment for future generations RESTORING LOCAL HABITATS RECYCLED NEW ZEALAND GLASS INDUSTRY-LEADING WATER CONSERVATION SUSTAINABLE MATERIALS POWERED BY SOLAR SMALL FOOTPRINTS
Slide 13: Creating memorable food & wine experiences
FOLEY WINES ASM 2023 PREMIUMISATION Creating memorable food & wine experiences We’re building an even closer relationship with our sister company Foley Hospitality and bringing our wines to life in iconic New Zealand venues.
Slide 14: Strategy recap
FOLEY WINES ASM 2023 Strategy recap 14
Slide 15: Five exceptional wineries and one craft distillery from three acclaimed regions
FOLEY WINES ASM 2023 OUR UNIQUE MODEL Five exceptional wineries and one craft distillery from three acclaimed regions, managed from one point MA R TI N BO R O U G H MA R L BO R O U G H CE N TR A L O T A G O 15
Slide 16: Enables us to satisfy the most discerning retailers & restaurants
FOLEY WINES ASM 2023 OUR UNIQUE MODEL Enables us to satisfy the most discerning retailers & restaurants at home and around the world
Slide 17: Our long term strategic priorities remain the same
FOLEY WINES ASM 2023 OUR LONG TERM STRATEGIC PRIORITIES Our long term strategic priorities remain the same Continuing to Leveraging the Nurturing strong, realise our power of our long-term premiumisation portfolio relationships strategy 17
Slide 18: An astounding awards season for Foley Wines
FOLEY WINES ASM 2023 AN ASTOUNDING AWA R D S S E A S O N F O R F O L E Y W I N E S CHAMPION GOLD GOLD GOLD GOLD 2023 2023 2023 2023 “It’s the challenging vintages that reveal great winemaking teams.” Double Gold Medal Winners GOLD 2023 Gold Medal Winners
Slide 19: Current trading environment and key priorities
FOLEY WINES ASM 2023 Current trading environment and key priorities 19
Slide 20: Current trading conditions remain uncertain
FOLEY WINES ASM 2023 Current trading conditions remain uncertain Consumers are grappling with high interest rates globally; wine is a discretionary spend for consumers. Anecdotal evidence indicates significant amounts of bulk wine on the market and downward pressure on net pricing. Further, the tari
Slide 21: Immediate priorities
FOLEY WINES ASM 2023 Immediate priorities 1. US market. We acknowledged we need to do better and have developed a plan that will return this market to growth in the short term and provide a strong platform for the future. 2. Working closely with our key partners to assist them to navigate through th
Slide 22: Continued…
FOLEY WINES ASM 2023 IMMEDIATE PRIORITIES Continued… Notwithstanding these challenges, we have total confidence in our business model and the quality of our relationships.
Slide 23: Shareholder questions
FOLEY WINES ASM 2023 Shareholder questions 23
Slide 24: Resolutions
FOLEY WINES ASM 2023 ASM 2023 Resolutions 1. Auditor’s remuneration 2. Re-election of Anthony Anselmi 3. Election of Robert P Foley II 24
Slide 25: General business
FOLEY WINES ASM 2023 General business THANK YOU 25