Ultimate Products Plc · LSE:ULTP
Ultimate Products — UP Global Sourcing Holdings — FY2020 Earnings Presentation
26 slides from Ultimate Products's earnings presentation, November 2020
Slide 1: Full Year Results FY20
UP GLOBAL SOURCING HOLDINGS PLC Full Year Results FY 20 20 20 www.upgs.com
Slide 2: Disclaimer
Disclaimer UP Global Sourcing Holdings plc Disclaimer BELDRAY Revo Cordless This content of information contained in these slides and the any such person as to the accuracy, completeness or fairness of the Always ready to go! accompanying presentation comprises an institutional presentation informat
Slide 3: Introduction and Agenda
Introduction UP Global Sourcing Holdings plc SALTER Cosmos Glass Chopper Practical and stylish design Full Year Results FY 20 Agenda Introduction Financial Review Andrew Gossage Graham Screawn Q A Strategy & Outlook Questions Simon Showman & Answers 2
Slide 4: Who We Are
Introduction UP Global Sourcing Holdings plc RUSSELL HOBBS Bakeware Make breakfast for the family Who We Are EST. IN EMPLOY SELL TO 1997 250+ 300+ IN MANCHESTER PEOPLE ACROSS RETAILERS ACROSS THE GROUP 37 COUNTRIES • Established in Oldham, Greater Manchester in 1997 • A brands house of consumer good
Slide 5: FY Summary
Introduction UP Global Sourcing Holdings plc FY 20 Summary REVENUE UNDERLYING PBT £115.7 m £8.2 m - 6.1 % -2.7 % (FY 19: £123.3 m) (FY 19*: £8.4 m) • Total revenue decreased 6.1 % to £115.7 m (FY 19: £123.3 m) • Underlying EBITDA decreased 3.3 % to £10.4 m (FY 19*: £10.7 m) • EBITDA margin increased
Slide 6: Operational Highlights
Introduction UP Global Sourcing Holdings plc Operational Highlights 01 02 03 04 COVID-19 Online Supermarkets International 5
Slide 7: Talent, Product Development, Brands, Board Appointments
Introduction UP Global Sourcing Holdings plc 05 06 07 08 09 Product Board Talent Brands Community Development Appointments 6
Slide 8: FY20 Financial Review
FY 20 Financial Review UP Global Sourcing Holdings plc FY 20 Financial Review Graham Screawn Income Statement Profit After Tax Bridge Segmental Analysis Geographical & Strategic Pillar Brand Major Product Areas Balance Sheet Cash Flow SALTER Earth Collection Eco-friendly non-stick coating 7
Slide 9: Income Statement
FY 20 Financial Review UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL % 2018* £’m 2019* £’m 2020 £’m CHANGE Income Statement Revenue 87.6 123.3 115.7 -6.1 % • Revenue decreased by 6.1 % as a result of Gross Profit 19.6 27.2 26.6 -2.4 % the closure of non-essential retail stores % 22.4 % 22.
Slide 10: Underlying Profit After Tax Bridge
FY 20 Financial Review UP Global Sourcing Holdings plc Underlying Profit After Tax Bridge (1,674) +57 +61 +1,030 +363 6,667 6,504 Underlying Reduction in Margin Reduction in Interest Underlying Underlying profit after revenue mix overheads tax profit after tax FY 19 tax FY 20 9
Slide 11: Segmental Analysis
FY 20 Financial Review UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL % Segmental Analysis 2018 £’m 2019 £’m 2020 £’m CHANGE Geographical & Strategic Pillar Geographical Analysis UK 63.6 74.8 74.0 -0.9 % • Revenue down overall by £7.6 m as a result Germany 3.6 11.8 11.0 -7.6 % of store clos
Slide 12: Segmental Analysis continued: Brand
FY 20 Financial Review UP Global Sourcing Holdings plc Segmental Analysis continued... 12M JUL 2018 £’m 12M JUL 2019 £’m 12M JUL 2020 £’m % CHANGE Brand Analysis of Revenue by Brand • Premier brands grew by £5.8 m, driven by Beldray 21.5 32.3 32.8 +1.5 % supermarkets and online segments out performi
Slide 13: Segmental Analysis continued: Major Product Areas
FY 20 Financial Review UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL % 2018 £’m 2019 £’m 2020 £’m CHANGE Segmental Analysis continued... Major Product Areas Analysis of Revenue by Major Products Small Domestic Appliances 21.4 34.1 38.7 +13.5 % • Small Domestic Appliances, Housewares and La
Slide 14: Balance Sheet
FY 20 Financial Review UP Global Sourcing Holdings plc 31 JUL 31 JUL 31 JUL Balance Sheet 2018* £’m 2019* £’m 2020 £’m Non-current Assets Tangible Assets 5.1 5.0 5.1 • Net assets increased £1.8 m to £13.4 m Intangible Assets 0.1 0.1 0.1 Deferred Tax 0.1 0.1 0.1 • Stock reduced by £4.4 m driven by ac
Slide 15: Cash Flow
FY 20 Financial Review UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL Cash Flow 2018* £’m 2019* £’m 2020 £’m Net Cash from Operations • Working capital movements arising from the EBITDA 7.0 10.5 10.6 net reduction in stock, debtors and creditors Other Non-cash items 0.1 0.3 0.6 Working Capi
Slide 16: Strategy & Outlook
Strategy & Outlook UP Global Sourcing Holdings plc SALTER Opulence Co-ordinated Collection A modern on-trend addition to any kitchen Strategy & Outlook 1 2 Discount Supermarkets Retailers 3 Online 4 International Channels 15
Slide 17: Appendices
Appendices UP Global Sourcing Holdings plc RUSSELL HOBBS Pastel Collection Practical cookware with soft hue accents Appendices Key Brands Beldray Intempo Salter Russell Hobbs Progress Kleeneze Board of Directors 16
Slide 18: Key Brands: Beldray
Key Brands UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2018 £’m 2019 £’m 2020 £’m Revenue Turnover 21.5 32.3 32.8 Growth -30.2 % +50.5 % +1.5 % treated with ANTIBAC Compound Growth +23.6 % protection Anti-Bac Bathroom Pet Plus Key Customers Garment Care Floorcare Heating & Cooling Beldra
Slide 19: Key Brands: Salter
Key Brands UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2018 £’m 2019 £’m 2020 £’m Revenue Turnover 13.8 20.9 25.8 Growth -13.7 % +50.8 % +23.7 % Compound Growth +36.6 % Coordinated Collections Pans Ovenware Key Customers Ovens Dinnerware Baking For over 250 years, Salter has proudly crea
Slide 20: Key Brands: Russell Hobbs
Key Brands UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2018 £’m 2019 £’m 2020 £’m Revenue Turnover 6.9 9.4 11.7 Growth -18.5 % +35.5 % +25.3 % Compound Growth +30.3 % Pans Laundry Enamel Key Customers Kitchen Tools Countertop Food Prep Loved by the Great British public for over half a ce
Slide 21: Key Brands: Intempo
Key Brands UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2018 £’m 2019 £’m 2020 £’m Revenue Turnover 8.5 8.2 5.0 Growth -15.9 % -2.5 % -38.8 % Compound Growth -22.7 % True Wireless Speakers Vlogging & Work from Home Key Customers Gaming Smart Home Charging At Intempo, we take the latest te
Slide 22: Key Brands: Progress
Key Brands UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2018 £’m 2019 £’m 2020 £’m Revenue Turnover 3.2 4.1 4.4 Growth +445.9 % +27.6 % +7.7 % Compound Growth +17.2 % Air Fryers Kettles Cookshop Key Customers Taste the World Grills Food Prep Established in 1931 in Burnley, Lancashire, Pro
Slide 23: Key Brands: Kleeneze
Key Brands UP Global Sourcing Holdings plc 12M JUL 12M JUL 12M JUL 2018 £’m 2019 £’m 2020 £’m Revenue Turnover - 0.2 1.2 Growth - +616.8 % Cleaning Storage Laundry Key Customers Ironing Floorcare Heating and Cooling A brand steeped in history, Kleeneze began in 1923 as a door-to-door distributor of
Slide 24: Board of Directors
Board of Directors UP Global Sourcing Holdings plc Jim McCarthy (64) Simon Showman (47) Andrew Gossage (49) Graham Screawn (53) Alan Rigby (64) Independent Chief Executive Officer Managing Director Chief Financial Officer Senior Independent Non-Executive Chairman Non-Executive Director James has ove
Slide 25: Board of Directors
Board of Directors UP Global Sourcing Holdings plc Robbie Bell (47) Jill Easterbrook (49) Christine Adshead (56) Barry Franks (74) Independent Independent Independent President Non-Executive Director Non-Executive Director Non-Executive Director (non-statutory director role) Robbie is Chief Financia
Slide 26: Full Year Results FY20
UP GLOBAL SOURCING HOLDINGS PLC Full Year Results FY 20
UP Global Sourcing Holdings — FY2020 Earnings Presentation on 6ix