Ultimate Products Plc · LSE:ULTP
Ultimate Products — UP Global Sourcing Holdings — FY2019 Earnings Presentation
26 slides from Ultimate Products's earnings presentation, November 2019
Slide 1: Full Year Results FY19
UP GLOBAL SOURCING HOLDINGS PLC Full Year Results FY19 20 19 www.upgs.com
Slide 2: Disclaimer
DISCLAIMER UP Global Sourcing Holdings plc This content of information contained in these slides and the any such person as to the accuracy, completeness or fairness of the accompanying presentation comprises an institutional presentation information or opinions contained in this Presentation and no
Slide 3: Introduction and Agenda
INTRODUCTION UP Global Sourcing Holdings plc CAMBRIDGE Sippy Mug Reusable Eco Friendly Bamboo Full Year Results FY19 Agenda Introduction Andrew Gossage Financial Review Graham Screawn Strategy & Outlook Simon Showman Q A Questions & Answers 2
Slide 4: Who We Are
INTRODUCTION UP Global Sourcing Holdings plc Who We Are EST. IN EMPLOY SELL TO 1997 IN MANCHESTER 290+ PEOPLE ACROSS 300+ RETAILERS ACROSS THE GROUP 38 COUNTRIES SALTER Earth Collection Super Strong Eco Coating • Established in Oldham, Greater Manchester in 1997 • A brands house of consumer goods fo
Slide 5: FY19 Summary
INTRODUCTION UP Global Sourcing Holdings plc FY19 Summary REVENUE UNDERLYING PBT £123.3m £8.5m + 40.8% + 50.5% (FY18: £87.6 m) (FY18: £5.6 m) • Total revenue increased 40.8% to £123.3 m (FY18: £87.6 m) • Underlying EBITDA increased 53.4% to £9.9 m (FY18: £6.5 m) • Gross margin reduced slightly at 22
Slide 6: Operational Highlights
INTRODUCTION UP Global Sourcing Holdings plc Operational Highlights 01 02 03 04 Cologne Supermarkets International Showroom Online 5
Slide 7: Excellence in Bank Facilities
INTRODUCTION UP Global Sourcing Holdings plc 05 06 07 08 09 Excellence in Bank Facilities Russell Hobbs Kleeneze Talent Execution Renewed 6
Slide 8: FY19 Financial Review
FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc FY19 Financial Review Graham Screawn Income Statement Profit After Tax Bridge Segmental Analysis Geographical & Strategic Pillar Brand Major Product Areas Balance Sheet Cash Flow KLEENEZE Laundry Range 7 Modern Design for Every Home
Slide 9: Income Statement
FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Income Statement 12M JUL 2017 £’m 12M JUL 2018 £’m 12M JUL 2019 £’m % CHANGE • Revenue increased by £35.7 m (+40.8%). Revenue 110.0 87.6 123.3 +40.8% Growth benefited from the reversal of the Gross Profit 24.6 19.6 27.2 +39.1% one-off revenue def
Slide 10: Underlying Profit After Tax Bridge
FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Underlying Profit After Tax Bridge (332) +7,984 (490) (2,842) (1,127) (356) (592) 6,719 4,474 Underlying Growth Margin mix International Wages and Other Interest Underlying Underlying profit after and cost investment salaries overheads tax profit
Slide 11: Segmental Analysis
FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Segmental Analysis 12M JUL 12M JUL 12M JUL % 2017 £’m 2018 £’m 2019 £’m CHANGE Geographical & Strategic Pillar • International sales up £24.5 m, accounting Geographical Analysis for 39.4% of total revenue. Germany is UK 79.6 63.6 74.8 +17.7% the
Slide 12: Segmental Analysis continued: Brand
FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Segmental Analysis continued... 12M JUL 2017 £’m 12M JUL 2018 £’m 12M JUL 2019 £’m % CHANGE Brand • Premier brands grew by £21.0 m Analysis of Revenue by Brand Beldray 30.8 21.5 32.3 +50.5% • Growth across all premier brands Salter 16.1 13.8 20.9
Slide 13: Segmental Analysis continued: Major Product Areas
FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Segmental Analysis continued... 12M JUL 2017 £’m 12M JUL 2018 £’m 12M JUL 2019 £’m % CHANGE Major Product Areas • Growth across all major product areas Analysis of Revenue by Major Products Small Domestic Appliances 24.6 21.4 34.1 +59.1% Housewar
Slide 14: Balance Sheet
FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Balance Sheet 31 JUL 2017 £’m 31 JUL 2018 £’m 31 JUL 2019 £’m • Net assets increased £3.1 m to £11.8 m Non-current Assets Tangible Assets 1.7 2.0 1.9 • Stock increase of £3.9 m driven by higher ‘sold stock’ Intangible Assets - 0.1 0.1 purchased a
Slide 15: Cash Flow
FY19 FINANCIAL REVIEW UP Global Sourcing Holdings plc Cash Flow 12M JUL 2017 £’m 12M JUL 2018 £’m 12M JUL 2019 £’m • Working capital movements arising from the Net Cash from Operations net increase in stock, debtors and creditors EBITDA 8.3 6.3 9.7 Other Non-cash items 0.1 0.1 0.3 • Purchase of own
Slide 16: Strategy & Outlook
STRATEGY & OUTLOOK UP Global Sourcing Holdings plc Strategy & Outlook Discount retailers Supermarkets Online platforms International CAMBRIDGE Flask Bottles Reusable Thermal Design 15
Slide 17: Appendices
APPENDICES UP Global Sourcing Holdings plc SALTER Skandi Collection Functional Simplicity Appendices Key Brands Beldray Intempo Salter Russell Hobbs Progress Board of Directors 16
Slide 18: Key Brands: Beldray
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2017 £’m 2018 £’m 2019 £’m Revenue Turnover 30.8 21.5 32.3 Growth +61.1% -30.2% +50.5% Compound Growth +2.5% Laundry Bathroom Garment Care Key Customers Floorcare Heating Cooling Beldray (originally ‘Bradley and Co. Ltd) is our trade
Slide 19: Key Brands: Intempo
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2017 £’m 2018 £’m 2019 £’m Revenue Turnover 10.0 8.5 8.2 Growth +72.1% -15.9% -2.5% Compound Growth -9.4% Headphones Bluetooth Party Speakers Key Customers Gaming LED Mobile Accessories At Intempo, we take the latest technology and c
Slide 20: Key Brands: Salter
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2017 £’m 2018 £’m 2019 £’m Revenue Turnover 16.1 13.8 20.9 Growth +32.8% -13.7% +50.8% Compound Growth +14.0% Coordinated Ranges Cookshop Skandi Key Customers Rose Gold Floorcare Healthy Cooking For over 250 years, Salter has proudly
Slide 21: Key Brands: Russell Hobbs
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2017 £’m 2018 £’m 2019 £’m Revenue Turnover 8.5 6.9 9.4 Growth +26.2% -18.5% +35.5% Compound Growth +5.1% Pans Laundry Enamel Key Customers Kitchen Tools Countertop Food Prep Loved by the Great British public for over half a century,
Slide 22: Key Brands: Progress
KEY BRANDS UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2017 £’m 2018 £’m 2019 £’m Revenue Turnover 0.6 3.2 4.1 Growth +1447.4% +445.9% +27.6% Compound Growth +163.9% Air Fryers Kettles Cookshop Key Customers Snack Makers Grills Food Prep Established in 1931 in Burnley, Lancashire, Progre
Slide 23: UP Global Sourcing Holdings plc
UP Global Sourcing Holdings plc SALTER Metallics Kettle and Toaster SALTER Vintage Countertop On-trend Coordinating Collections Stylish Pastel Colours PORTOBELLO Tea Set Afternoon Tea Delight CAMBRIDGE Glass Water Bottles Fill. Drink. Save. Repeat. 22
Slide 24: Board of Directors
BOARD OF DIRECTORS UP Global Sourcing Holdings plc Jim McCarthy (63) Simon Showman (46) Andrew Gossage (48) Graham Screawn (52) Independent Chief Executive Managing Director Chief Financial Officer Non-Executive Officer Chairman James has over 40 years’ experience in the Simon began his career worki
Slide 25: Board of Directors
BOARD OF DIRECTORS UP Global Sourcing Holdings plc Alan Rigby (63) Robbie Bell (46) Barry Franks (73) Senior Independent Independent Non-Executive Non-Executive Non-Executive Director Director Director Alan spent the majority of his working career at Robbie is Chief Financial Officer at the Barry Fr
Slide 26: UP Global Sourcing Holdings plc
UP GLOBAL SOURCING HOLDINGS PLC Full Year Results FY19
UP Global Sourcing Holdings — FY2019 Earnings Presentation on 6ix