Metro Performance Glass Ltd · NZX:MPG
Metro Performance Glass — Shareholder Meeting (August 2018)
24 slides from Metro Performance Glass's shareholder meeting presentation, Aug 24, 2018
Slide 1: Metro Performance Glass Annual Shareholders' Meeting
Metro Performance Glass Annual Shareholders’ Meeting 24 August 2018 Strictly confidential and not for public release
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) has been prepared by Metro Performance Glass Limited (Company Number 5267882) (“Metro Performance Glass”). Please do not read this Presentation in isolation This presentation contains some forward looking statements about Metro Performance Glass and the
Slide 3: Agenda
Agenda 1. Chair’s address 2. Chief Financial Officer’s address 3. General business and shareholder questions 4. Ordinary business and resolutions 5. Voting 6. Refreshments Strictly confidential and not for public release 2
Slide 4: 1. Chair's Address
1. Chair’s Address Strictly confidential and not for public release 3
Slide 5: Board of directors
Board of directors From left to right: 1. Peter Griffiths 4. Rhys Jones Independent, non‐executive Chair Independent, non‐executive Director Member of Audit and Risk Committee Member of People and Culture Committee Appointed: September 2016 Appointed: April 2018 2. Russell Chenu 5. Gordon Buswell In
Slide 6: Metroglass is focused on optimising and enhancing its internal capability to execute
Metroglass is focused on optimising and enhancing its internal capability to execute on the opportunities ahead Metroglass’ purpose is to be a customer‐dedicated organisation that delivers market‐differentiated glass products and glazing services Our four strategic objectives: 1. Delivering market 2
Slide 7: Delivering market leading service to our customers; Developing our organisational capabilities
Delivering market leading Developing our organizational 1 2 service to our customers capabilities Service is a key differentiator for our customers Improving our ability to execute against these and critical to their success and profitability strategic initiatives is critical The New Zealand and Aus
Slide 8: Maintaining our scale position via product and channel leadership
3 Maintaining our scale position via product and channel leadership Metroglass has grown to service more than 55% of the NZ flat‐glass market. Scale is an important advantage in this market, providing significant manufacturing, procurement and distribution advantages Glass is a rapidly evolving prod
Slide 9: Leveraging our scale and assets to deliver lowest total delivered cost
4 Leveraging our scale and assets to deliver lowest total delivered cost A persistent focus on increasing efficiency and automation and lowering costs is essential for the long‐term sustainability of our business, and to enable us to compete successfully against imports and changing industry dynamic
Slide 10: What do FY19/FY20 look like?
What do FY19/FY20 look like? Dedication to excellent customer service (but not being all things to all people) We will maintain our product leadership position, with a broad product offering, existing routes to market, and our current geographic spread Deeply embedded best practice production cultur
Slide 11: Trading update and outlook for FY19
Trading update and outlook for FY19 FY19 year to date trading: • New Zealand: • We are pleased with the clear improvements made in increasing ‘people’ capabilities and in delivering sustained improvements in service levels • Despite variable market conditions, financial performance in New Zealand is
Slide 12: Simon Mander appointed as Metroglass' new CEO
Simon Mander appointed as Metroglass’ new CEO Simon will join Metroglass in January 2019 Experienced and inclusive people leader, with a strong track record in both New Zealand manufacturing and building materials Most recent role: CEO of Tru‐Test Corporation Ltd, a world leading New Zealand based a
Slide 13: 2. Chief Financial Officer's Address
2. Chief Financial Officer’s Address Strictly confidential and not for public release 12
Slide 14: FY18: Full year result highlights
FY18: Full year result highlights 1 Group revenue of $268.3m (+10%) including a full 12 months of trading from AGG. EBIT of $28.0m (‐15%) and NPAT of $16.3m (‐16%) impacted by significant items 2 Strong operating cash flow of $33.6 million (+92%); net debt flat at $94.3m 3 Soft NZ construction ac
Slide 15: FY18: Group revenue
FY18: Group revenue Metroglass Group revenue (NZ$ million)1,2 (0%) (NZ) +10% (2%) (5%) +25% 268.3 244.3 143.2 145.6 48.2 51.0 55.4 21.5 30.5 17.2 Residential (NZ) Commercial Glazing (NZ) Retrofit (NZ) Australian Glass Group Metroglass Group (12 months) (7 months) FY18 FY17 Notes: 1. The allocation o
Slide 16: FY18: EBIT summary
FY17 EBIT 33.9 before significant items NZ profit improvement 2.9 South Island pricing 1.4 FY18: EBIT summary NZ factory labour 1.7 EBIT before significant items bridge: FY17 to FY18 ($m) NZ electricity costs 0.8 NZ Advertising 0.4 Consultancy costs 1.2 AGG Segmental EBIT 2.0 (5 extra months) AGG pr
Slide 17: Operational update
Operational update Delivering market leading service to our customers NZ customer service levels in Q1 FY19 have been the highest Metroglass has delivered since Q4 FY17 In Australia, the sales and production recovery has been slower and more challenging than expected following the completion of the
Slide 18: General business and shareholder questions
General business and shareholder questions Strictly confidential and not for public release 17
Slide 19: Ordinary business and resolutions
Ordinary business and resolutions Strictly confidential and not for public release
Slide 20: Ordinary business and resolutions: Resolution 1
Ordinary business and resolutions To consider and, if thought fit, pass the following ordinary resolution: Resolution 1: That the Board be authorised to fix the fees and expenses of PwC as Auditor for the ensuing year. Strictly confidential and not for public release 19
Slide 21: Ordinary business and resolutions: Resolution 2
Ordinary business and resolutions To consider and, if thought fit, pass the following ordinary resolution: Resolution 2: That Gordon Buswell, who retires by rotation and is eligible for re‐election, be elected as a Director of Metro Performance Glass Limited. Strictly confidential and not for public
Slide 22: Ordinary business and resolutions: Resolution 3
Ordinary business and resolutions To consider and, if thought fit, pass the following ordinary resolution: Resolution 3: That Russell Chenu, who retires by rotation and is eligible for re‐election, be elected as a Director of Metro Performance Glass Limited. Strictly confidential and not for public
Slide 23: Ordinary business and resolutions: Resolution 4
Ordinary business and resolutions To consider and, if thought fit, pass the following ordinary resolution: Resolution 4: That Rhys Jones (appointed by the Board as a Director effective 1 April 2018), who retires and is eligible for election, be elected as a Director of Metro Performance Glass Limite
Slide 24: Contact information
Contact information Metro Performance Glass Limited John Fraser‐Mackenzie – Chief Financial Officer john.fraser‐mackenzie@metroglass.co.nz 5 Lady Fisher Place, East Tamaki (+64) 027 551 6751 Auckland 2013 New Zealand Andrew Paterson – Investor Relations Ph: + 64 9 927 3000 andrew.paterson@metroglass
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