Delegat Group Limited · NZX:DGL
Delegat — H1 FY2022 Earnings Presentation
14 slides from Delegat's earnings presentation, Feb 25, 2022
Slide 1: Half-Year Results 31 December 2021
31 DECEMBER 2021 HALF-YEAR RESULTS
Slide 2: Record Global Case Sales
RECORD GLOBAL CASE SALES “Delegat Group has achieved record global case sales of 1,893,000 cases for the six months to 31 December 2021.” ALAN JACKSON CHAIRMAN 2
Slide 3: Performance Highlights
PERFORMANCE HIGHLIGHTS Our great wine people putting in a Herculean effort to achieve this result in challenging conditions Record global case sales of 1,893,000, 2% higher than last year 14% sales growth in Australia, NZ and Asia Pacific region Operating NPAT of $39.5 million 3
Slide 4: Case Sales and FX
CASE SALES AND FX % Change Case Sales (000's) Dec 2021 Dec 2020 vs 2020 UK, Ireland and Europe 626 675 -7% North America (USA and Canada) 874 843 4% Australia, NZ and Asia Pacific 393 344 14% Total Cases 1,893 1,862 2% % Change Foreign Currency Rates Dec 2021 Dec 2020 vs 2020 GB£ 0.5062 0.5058 0% AU
Slide 5: Sales Revenue Growth Analysis
SALES REVENUE GROWTH ANALYSIS December December % Change NZ$ millions 2021 Actual 2020 Actual vs 2020 Sales Revenue 175.9 168.0 5% Sales movements breakdown: Volume 2% Value 3% Foreign Exchange -1% Price 3% Country/Product Mix 1% 5
Slide 6: Operating Performance
OPERATING PERFORMANCE Dec 2021 Dec 2020 % Change NZ$ millions Restated* vs 2020 Sales Revenue 175.9 168.0 5% Operating Revenue 178.7 172.8 3% Operating Gross Profit 86.8 90.8 -4% Operating Gross Margin 49% 53% Expenses (excl Promotion and Marketing) (22.0) (22.1) 0% Promotion and Marketing (5.2) (4.
Slide 7: Operating Profit Movement – Last Year
OPERATING PROFIT MOVEMENT – LAST YEAR NZ $millions 7
Slide 8: Impact of 'Fair Value' Adjustments
IMPACT OF ‘FAIR VALUE’ ADJUSTMENTS Dec 2021 Dec 2020 % Change NZ$ millions Restated* vs 2020 Operating NPAT 39.5 43.0 -8% Operating NPAT % of Revenue 22% 25% Biological Produce (Grapes) 1 (7.1) (10.3) -31% Derivative financial Instruments 3.2 4.9 -35% Total Fair Value Items (3.9) (5.4) -28% Taxation
Slide 9: Reported Profit Movement – Last Year
REPORTED PROFIT MOVEMENT – LAST YEAR NZ $millions 9
Slide 10: Balance Sheet Summary
BALANCE SHEET SUMMARY Dec 2021 Dec 2020 % Change NZ$ millions Restated* vs 2020 Assets Current Assets 243.1 225.9 8% Fixed Assets 664.7 644.1 3% Other Non-current Assets 0.7 - 0% Total Assets 908.5 870.0 4% Liabilities Current Liabilities 37.2 40.1 -7% Lease Liability 93.8 95.6 -2% Deferred Tax Liab
Slide 11: Net Debt Movement – June to Dec
NET DEBT MOVEMENT – JUNE 21 TO DEC 21 NZ $millions 11
Slide 12: Net Debt Overview
NET DEBT OVERVIEW December December % Change NZ$ millions 2021 Actual 2020 Actual vs 2020 Funding Operating Cash Flow 20.2 42.7 -53% Net Debt 267.0 254.1 5% Key Ratios Operating Interest Cover 11.62 13.16 -12% Equity / (Equity + Net Debt) % 63.8% 62.5% 2% Senior Debt Ratio 2.41 2.07 -16% 12
Slide 13: Full Year Outlook
FULL YEAR OUTLOOK The Group is on target to achieve global case sales for the full year of 3,419,000, up 8% on last year. Based on prevailing exchange rates and a similar trading environment, the Group forecasts the 2022 Operating Profit result remains in line with market guidance in the range of $5
Slide 14: Thank you
EST 1947 7 DELEGAT Thank you