Noumi Limited · ASX:NOU
Noumi — FY2024 Earnings Presentation
29 slides from Noumi's earnings presentation, Aug 27, 2024
Slide 1: Noumi Limited 2024 Results
Noumi Limited 2024 Results 27 August 2024
Slide 2: Important notice and disclaimer
Important notice and disclaimer Summary Information Only This presentation criteria contains general information about Noumi Limited and its consolidated entities (“Noumi Limited”) and its activities current as at the date of this presentation. It is provided in summary and does not purport to be co
Slide 3: Agenda
Agenda FY24 OVERVIEW 01 COMPANY EVOLUTION 02 FINANCIAL PERFORMANCE 03 STRATEGY 04 CLOSING REMARKS 05 Noumi Limited 2024 Results 3
Slide 4: FY24 Overview
FY24 Overview Noumi Limited 2024 Results 4
Slide 5: Strategy delivers record revenue and earnings
Strategy delivers record revenue and earnings Reset, Transform, Grow strategy delivers. Adjusted operating EBITDA of $50.8m up 22.2% on FY23. Plant-based Milks delivers record adjusted operating EBITDA of $49.4m up 12.3% on FY23. New channel and geography expansion initiatives launched. Market leadi
Slide 6: Continued development in our team
Continued development in our team Safety improved 21% in lead safety measures with investment training and education to drive a safety culture Over 500 talented team members around the globe Increased participation in engagement survey and leadership workshops continue to develop our team Frontline
Slide 7: Financial highlights
7 a MILKLAG: Sr PLANT-BASED BEVERAGE FOR COFFEE IN COLLABORATION DESIGNED {AND STRETCH WITH COFFEE aN AUT to Tetu 250 ml FINANCIAL HIGHLIGHTS $50.8m $5.5m Adj Op EBITDA‘? Dairy & Nutritionals Adj Op EBITDA‘? O $9.2m @ $14m $589.8m $412.2m Net Revenue Dairy & Nutritionals Net Revenue @ $38.2m @ $23.0
Slide 8: Company's Transformation and Evolution
Company’s Transformation and Evolution Noumi Limited 2024 Results 8
Slide 9: Strategy shifting to growth
Strategy shifting to growth FY22 FY22-23 FY23-25 RESET TRANSFORM GROW The financial, structural, operational Actions to Transform the Company Those improvements provide the and cultural Reset of the Company continue, with operational improvements springboard to Grow the business was substantially co
Slide 10: Strategy shifting to growth
Strategy shifting to growth Reset Achievements – ASIC litigation closed Transformation Achievements – Dairy & Nutritionals Long-life milk profitability improves. Yield and key branded products positive YoY. Transformation Challenges – Global dairy headwinds: Export volumes, commodity prices and Lact
Slide 11: Noumi – Key manufacturing sites
Noumi – Key manufacturing sites Dairy & Nutritionals Plant-based Milks Shepparton, VIC Ingleburn, NSW • Noumi Nutritionals is a leading Australian • Our state-of-the-art facility in Ingleburn, manufacturer of quality long life dairy New South Wales specialises in the products and premium protein dev
Slide 12: Our Brands
Noumi has a broad portfolio of strong Our Brands brands that meet differing consumer needs and occasions across multiple markets.
Slide 13: Financial Performance
Financial Performance Noumi Limited 2024 Results 13
Slide 14: FY24 Earnings
FY24 Earnings $ million FY24 FY23 Change ($) Net revenue up 6.9% – Milklab overall sales up 9.9%; Domestic Net revenue 589.8 551.6 38.2 Long-life dairy up 19.6% and plant-based export sales up 16.7% Adj operating EBITDA1, 2, 3 50.8 41.6 9.2 Non-operating items incl. restructuring & Adjusted operatin
Slide 15: FY24 Balance Sheet
FY24 Balance Sheet Cash and Borrowings Cash at bank of $14.6m with undrawn finance facility of $18m $ million FY24 FY23 Change ($) provides liquidity for operations based on current conditions and expectations Cash and cash equivalents 14.6 18.6 (4.0) Financial debt (excl. Convertible Notes) (96.2)
Slide 16: Financial Performance | Plant-based Milks
Financial Performance | Plant-based Milks Financial results Summary of performance ($m) FY24 FY23 Change ($) Change (%) Record revenues, record earnings and record margins with a Net revenue 177.6 162.4 15.2 9.4 busy year of achievement Adjusted operating EBITDA1, 2 49.4 44.0 5.4 12.3 Adjusted opera
Slide 17: Financial Performance | Dairy & Nutritionals
Financial Performance | Dairy & Nutritionals Financial results Summary of performance ($m) FY24 FY23 Change ($) Change (%) Positive adjusted operating EBITDA $5.5m up 34.6% on FY23 Net revenue 412.2 389.2 23.0 5.9 despite global headwinds Net revenue excl. Traded Milk 394.9 374.9 20.0 5.4 Revenue up
Slide 18: Cash Flow
Cash Flow Summary FY24 FY23 Cash flow from operations 41.6 35.2 Net finance costs (17.6) (18.8) Net cash flow from operations improved in FY24 to $41.6m Property plant and equipment (5.0) (3.9) Working capital management a key focus – inventory Other net financing cash flows (including AASB 16) (1.8
Slide 19: Strategy
Strategy Noumi Limited 2024 Results 19
Slide 20: Our Growth Strategy
Our Growth Strategy Develop high quality and innovative dairy and plant products to meet the different nutrition and taste needs of customers and consumers across life stages Complete the Accelerate Deliver Embed Strategic Future Growth Pillars Dairy & Nutritionals Plant–based Milks world class High
Slide 21: Strategy | Plant-based Milks
Strategy | Plant-based Milks Focus Areas Continue to grow Milklab in Domestic Market through channel and product expansion Accelerate investment in marketing to strengthen brand with both Consumers and café sector Build Milklab distribution in key strategic markets across Asia, as coffee culture con
Slide 22: Strategy | Dairy & Nutritionals
Strategy | Dairy & Nutritionals Focus Areas Continue to build on customer relationships through service, quality and efficiency Invest in developing added value dairy innovation across core platforms of liquid milk, cream and protein Leverage the health benefits of PUREnFERRIN Lactoferrin to expand
Slide 23: The Healthier Tomorrow Plan
The Healthier Tomorrow Plan We aim to continuously improve our environmental footprint for future generations. Focus areas We aim to create Waste and Packaging products to improve • We are minimising the waste we consumers’ and communities’ generate, maximising recyclable nutritional and social outc
Slide 24: Trading Outlook
Trading Outlook Noumi remains cautious about the macro-economic environment and consumer spending in Australia. In addition, global dairy prices continue to create challenging conditions for Noumi’s Long-life dairy milk export sales and bulk commodities, with all Australian dairy exporters at a disa
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Slide 26: Appendix
Appendix Noumi Limited 2024 Results 26
Slide 27: Post-AASB 16 to Pre-AASB 16 Bridge
Post-AASB 16 to Pre-AASB 16 Bridge …transition to reporting post AASB 16 FY24 FY23 Post Pre Post Pre $ million AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 Plant-based Milks Net revenue 177.6 - 177.6 162.4 - 162.4 Operating expenses (128.2) (6.7) (134.9) (118.4) (6.6) (125.0) EBITDA (Plant-based
Slide 28: Profit and Loss Summary
Profit and Loss Summary Non-operating items incl. restructuring & litigation2 FY24 FY23 FY24 FY23 Adjusted operating EBITDA 1 50.8 41.6 Onerous contracts provision - 4.4 Non-operating items incl. restructuring & litigation2 (6.4) (1.0) Restructuring expenses (0.1) (4.2) ASIC penalty expenses (5.1) -
Slide 29: Noumi. Imagining a healthier tomorrow
noumi. Imagining a healthier tomorrow