Breville Group Limited · ASX:BRG
Breville — Shareholder Meeting (November 2022)
30 slides from Breville's shareholder meeting presentation, Nov 10, 2022
Slide 1: Breville Group Limited – 2022 Annual General Meeting Presentation
10 November 2022 For personal use only ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Breville Group Limited – 2022 Annual General Meeting Presentation Please find attached copies of the Chairman’s and CEO’s addresses, and accompanying presentation, t
Slide 2: Chairman's Address at 2022 AGM
Chairman’s Address at 2022 AGM Slide 3 I would like to begin by acknowledging and paying respects to the traditional custodians of the land and For personal use only waters on which we work, the Gadigal People of the Eora Nation, and to their elders, past, present and emerging. We celebrate the cont
Slide 3: Chairman's and CEO's Address (continued)
Slide 10 Earnings per share increased by 15.3% to 75.9 cents, and in line with the Board’s target payout ratio of 40% of EPS, dividends per share increased by 13.2% to 30 cents. Breville ended the 2022 financial year with a solid balance sheet including net debt of $4 million. For personal use only
Slide 4: CEO's Address (continued)
revenue diversification play through. As the Ukraine war knocked EMEA off its normal trajectory, the Americas’ performance basically closed the gap. Slide 17 The EBIT bridge between FY21 and FY22 shows we generated an incremental $72.2 million of Gross For personal use only Profit of which $35.8 mil
Slide 5: CEO's Address (continued)
Slide 22 Winning a Good Design Award with the Aboriginal Culinary Journey is much appreciated recognition for Breville’s prowess in product design. The team has won countless global product design awards through the years. But in October, we experienced a first for Breville in its 90-year history. B
Slide 6: Breville Group Limited (BRG) Annual General Meeting November 2022
Breville Group Limited (BRG) Annual General Meeting 10 November 2022 an Aboriginal Culinary Journey Breville | Sage 9O
Slide 7: Disclaimer
Disclaimer To the extent this Presentation contains any forward looking statements, such statements are not guarantees of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Breville, its Directors and management, and in
Slide 8: Acknowledgement of Country
Acknowledgement of Country We would like to acknowledge and pay respects to the traditional custodians of the land and waters on which we work, the Gadigal People of the Eora Nation, and to their elders, past, present and emerging. We celebrate the continuing contribution of their food culture, and
Slide 9: Chairman's Address
Chairman’s Address Mr. Tim Antonie Introductions & Running Order Breville | Sage 9Q
Slide 10: Items of Business
Items of Business 2022 Annual Report Remuneration Report Re-election and election of Non-Executive Directors Grant of rights to Managing Director and CEO Grant of NED rights to Non-Executive Directors Breville | Sage 9Q
Slide 11: For personal use only
For personal use only
Slide 12: FY22 was a solid year for Breville
“FY22 was a solid year for Breville, delivering record sales and EBIT against a dynamic second half backdrop” Breville | Sage 9Q
Slide 13: Revenue and EBIT FY16–FY22
For personal use only 1,500 160 156 1,418 140 136 1,188 120 110 1,000 952 97 100 87 760 79 647 80 74 577 606 60 500 40 20 0 0 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY16 FY17 FY18 FY19 FY20 FY21 FY22
Slide 14: Revenue, EBIT, Investment and NPAT growth
Global Product Distribution +14.6% For personal use only +19.4% 160 156 1,500 1,418 140 136 1,188 240 120 204 1,000 100 80 1,179 60 500 984 40 20 0 0 FY21 FY22 FY21 FY22 +22.3% 120 +16.2% 200 196 106 160 100 91 150 80 100 60 40 50 20 0 0 FY21 FY22 FY21 FY22
Slide 15: Earnings per share and dividends per share
For personal use only +13.2% +15.3% 30.0 80 75.9 30 26.5 70 65.8 25 60 20 50 40 15 30 10 20 5 10 0 0 FY21 FY22 FY21 FY22
Slide 16: Thank You
Thank You - Breville | Sage global team - Shareholders - Suppliers, customers and consumers Breville | Sage 9Q
Slide 17: CEO's Address
CEO’s Address Jim Clayton Breville | Sage 9Q
Slide 18: AGM Agenda
AGM Agenda ®- The Numbers * 1HFY23 Update * Closing Remarks Breville | Sage 9Q
Slide 19: FY22 Results Summary
AUDm FY 22 FY 21 % Chng For personal use only Revenue 1,418.4 1,187.7 19.4% • Gross Profit 485.9 413.7 17.5% • Gross margin (%) 34.3% 34.8% EBITDA 186.8 163.3 14.4% • EBIT 156.4 136.4 14.6% EBIT margin (%) 11.0% 11.5% • NPAT 105.7 91.0 16.2% Basic EPS (cents) 75.9 65.8 15.3% Dividend per share 30.0
Slide 20: Revenue, Gross Profit and Gross Margin by Segment
Revenue Gross Profit Gross Margin (%) AUDm FY22 FY21 % Chng FY22 FY21 % Chng FY22 FY21 For personal use only Global Product 1,178.5 984.2 19.8% 428.7 362.9 18.2% 36.4% 36.9% % Change CC1 18.0% Distribution 239.9 203.5 17.7% 57.2 50.8 12.5% 23.8% 25.0% TOTAL 1,418.4 1,187.7 19.4% 485.9 413.7 17.5% 34
Slide 21: Global Product Segment Revenue
GLOBAL PRODUCT SEGMENT REVENUE AUDm FY22 FY21 % Chng % Chng CC* For personal use only Americas 605.0 493.0 22.7% 19.4% EMEA 295.1 257.0 14.8% 15.1% APAC 278.4 234.2 18.9% 18.2% TOTAL 1,178.5 984.2 19.8% 18.0% • • •
Slide 22: EBIT Bridge FY21 to FY22
-8.3 Gross Margin For personal use only -35.8 80.5 -16.6 156.4 Increased investment in Marketing, R&D, and IT 136.4 +20.0 Net sales growth of 19.4% Funds generation Funds invested • • •
Slide 23: Balance Sheet
AUDm FY22 FY21 • For personal use only Inventory1 445.9 216.7 Trade and other receivables 194.2 119.3 • Trade and other payables (292.3) (175.8) Working Capital 347.8 160.2 • Fixed assets 33.5 26.8 • Intangibles 241.0 217.4 • Other (liabilities) / assets (3.9) (27.8) NET ASSETS EMPLOYED 618.5 376.6
Slide 24: Acceleration Program Scorecard
Acceleration Program Scorecard Acceleration Program Scorecard Fy18 FY19 FY20 FY21 FY22 FY18-FY22 CAGR BRG Revenue (AUDm) 646.8 760.0 952.2 1,187.7 1,418.4 21.7% Revenue Yr/Yr Growth 6.8% 17.5%. 25.3% 24.7% 19.49% Global Segment Revenue 522.2 612.0 764.4 984.2 1,178.5 22.6% Global Segment CC Growth 1
Slide 25: AGM Agenda
AGM Agenda * The Numbers ™®- 1HFY23 Update * Closing Remarks Breville | Sage 9Q
Slide 26: Best-in-Class Good Design Award
The team received the Best-in-Class Good Design Award for the range, which has now been launched across Europe.
Slide 27: Digital Design Catching Up to Product Design
Digital Design Catching Up to Product Design * Home Page: Best Home Page + Product Description Page: Best Structure and Navigation + Joule Oven: Best Use of Video or Motion Graphics Breville’s First Global Digital Design Award.
Slide 28: 1HFY23 Update
1HFY23 Update + We’ve landed the inventory we needed to support the 1H. * Supply chain now predictable enough to transition back to flow model in 2HFY23, meaning working capital release. + Leveraging our Launch v2.0 process, the Barista Express Impress new product is performing well in all geographi
Slide 29: AGM Agenda
AGM Agenda * The Numbers * 1HFY23 Update ® > Closing Remarks Breville | Sage 9Q
Slide 30: Breville Group Limited (BRG) Annual General Meeting November 2022
Breville Group Limited (BRG) Annual General Meeting 10 November 2022 an Aboriginal Culinary Journey Breville | Sage 9O