Ansell Limited · ASX:ANN
Ansell — Investor Presentation (April 2024)
52 slides from Ansell's investor presentation, Apr 8, 2024
Slide 1: Acquisition of Kimberly-Clark's Personal Protective Equipment Business (KCPPE) & Equity Raising
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION OF KIMBERLY-CLARK’S PERSONAL PROTECTIVE EQUIPMENT BUSINESS (KCPPE) & EQUITY RAISING 8 April 2024 1
Slide 2: Disclaimer
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm Disclaimer This investor presentation (Presentation) is dated 8 April 2024 and has been prepared by Ansell Limited (ABN 89 004 085 330) (Ansel
Slide 3: Disclaimer (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm Disclaimer (Cont’d) Investment risk An investment in Ansell shares is subject to known and unknown risks, some of which are beyond the control
Slide 4: Disclaimer (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm Disclaimer (Cont’d) Future performance and forward-looking statements This Presentation contains certain forward-looking statements, which inc
Slide 5: Disclaimer (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm Disclaimer (Cont’d) Disclaimer (cont’d) To the maximum extent permitted by law, Ansell and the Lead Manager and each of their respective relat
Slide 6: Contents
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm Contents 1. Transaction Summary 7 2. KCPPE Overview 11 3. Acquisition Rationale 15 4. Equity Raising Overview 24 5. Appendices A. Supplementar
Slide 7: Transaction Summary
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm TRANSACTION SUMMARY 7
Slide 8: Strategic Priorities for Acquisitions
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm TRANSACTION SUMMARY Strategic Priorities for Acquisitions KCPPE Accelerate Growth 1 • Increase presence in faster growing segments Reinforce
Slide 9: The Acquisition of KCPPE is Strategically Compelling for Ansell
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm TRANSACTION SUMMARY The Acquisition of KCPPE is Strategically Compelling for Ansell 1 • Improves organic growth potential through increased pr
Slide 10: Transaction Overview
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm TRANSACTION SUMMARY Transaction Overview • Ansell Limited (ASX:ANN) (Ansell) has entered into a binding agreement to acquire 100% of the asset
Slide 11: KCPPE Overview
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm KCPPE OVERVIEW 11
Slide 12: KCPPE is a Leading Global PPE Business
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm KCPPE OVERVIEW KCPPE is a Leading Global PPE Business Business Highlights Financial Highlights (US$m) CY23 BUSINESS • Designs, markets and sel
Slide 13: Two Business Segments with Strong Positions in Attractive End Markets
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm KCPPE OVERVIEW Two Business Segments with Strong Positions in Attractive End Markets Scientific Industrial Safety Brands Brands Global leading
Slide 14: High Quality, Differentiated Product Portfolio
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm KCPPE OVERVIEW High Quality, Differentiated Product Portfolio Gloves (57% Revenue)1 Protective Apparel (25% Revenue)1 Safety Eyewear (15% Reve
Slide 15: Acquisition Rationale
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE 15
Slide 16: Scientific Has Long Been a Priority Growth Area for Ansell
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE Scientific Has Long Been a Priority Growth Area for Ansell Attractive Characteristics Supporting Ansell’s Value Proposit
Slide 17: KCPPE's Scientific Business is Highly Complementary
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE KCPPE’s Scientific Business is Highly Complementary Scientific Ansell KCPPE Ansell Post KCPPE Acquisition Revenue ~US$14
Slide 18: Acquisition Improves Ansell's Position in Chemical Protective Clothing
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE Acquisition Improves Ansell’s Position in Chemical Protective Clothing Chemical Protective Clothing Ansell KCPPE Ansell
Slide 19: Enhanced Services Offering, Adding Capability in Compliance & After Market Services
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE Enhanced Services Offering, Adding Capability in Compliance & After Market Services Services Ansell KCPPE Ansell Post KC
Slide 20: Potential to Unlock Scale Benefits from Combined Business
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE Potential to Unlock Scale Benefits from Combined Business Expected run-rate net cost synergies of ~US$10 million p.a. to
Slide 21: Transitional Services to Support Integration
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE Transitional Services to Support Integration Integration is not expected to disrupt the Accelerated Productivity Investm
Slide 22: Strengthened Financial Profile
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE Strengthened Financial Profile Pro Forma Financial Profile Financial Highlights (US$m) Ansell KCPPE Pro Forma1 Estimated
Slide 23: Significant Value Creation for Ansell Shareholders
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm ACQUISITION RATIONALE Significant Value Creation for Ansell Shareholders Acquisition multiple of 9.7x EV / EBIT; 7.8x including run-rate net c
Slide 24: Equity Raising Overview
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm EQUITY RAISING OVERVIEW 24
Slide 25: Institutional Placement and Share Purchase Plan
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm EQUITY RAISING OVERVIEW Institutional Placement and Share Purchase Plan • Fully underwritten institutional placement (Placement) to raise A$40
Slide 26: Sources & Uses and Balance Sheet Impacts
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm EQUITY RAISING OVERVIEW Sources & Uses and Balance Sheet Impacts Sources1 US$m Uses US$m Commentary Gross Proceeds from Placement 2632 Acquisi
Slide 27: Placement and Share Purchase Plan Timetable
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm EQUITY RAISING OVERVIEW Placement and Share Purchase Plan Timetable Description1 Date Record date for SPP 7:00pm, Friday, 5 April 2024 Trading
Slide 28: Appendix A: Supplementary Information
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX A: SUPPLEMENTARY INFORMATION 28
Slide 29: KCPPE Has an Attractive Financial Profile
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX A KCPPE Has an Attractive Financial Profile Historical EBIT Profile (US$m) Commentary 80 24% 28% • KCPPE experienced similar post pan
Slide 30: Appendix B: Key Risks
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B: KEY RISKS 30
Slide 31: Key Risks
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks Overview This section summarises some of the key risks that may affect the future performance of an investment in Ansell.
Slide 32: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) The Acquisition of KCPPE may • Completion of the Acquisition is conditional on certain matters including: (a) no
Slide 33: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) The recourse to the vendors of • The ability of Ansell to achieve its stated objectives will depend on the perfo
Slide 34: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) Funding the Acquisition – debt • Ansell intends to fund the Acquisition in part by a Bridge Facility. The drawdo
Slide 35: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) General Ansell Risks Ansell's material supplier and • Ansell’s relationships with its material suppliers, custom
Slide 36: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) Ansell is exposed to evolving • Failure to comply with social and environmental standards, or poor environmental
Slide 37: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) Ansell is exposed to many • As noted above, Ansell has a presence in over 55 countries globally. Demand for Anse
Slide 38: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) Ansell may be involved in • Ansell and its subsidiaries may, from time to time, be involved in legal proceedings
Slide 39: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) Intellectual property risk • Ansell is reliant on its ongoing ability to commercialise its existing intellectual
Slide 40: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) Climate risk • Climate change presents both physical and transitional risks and opportunities for Ansell. • Tran
Slide 41: Key Risks (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX B Key Risks (Cont’d) There are risks associated with • There are general risks associated with investments in equity capital and shar
Slide 42: Appendix C: International Offer Restrictions
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX C: INTERNATIONAL OFFER RESTRICTIONS 42
Slide 43: International Offer Restrictions
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX C International Offer Restrictions This Presentation does not constitute an offer of New Shares in any jurisdiction in which it would
Slide 44: International Offer Restrictions (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX C International Offer Restrictions (Cont’d) Cayman Islands • No offer or invitation to subscribe for New Shares may be made to the pu
Slide 45: International Offer Restrictions (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX C International Offer Restrictions (Cont’d) Norway • This Presentation has not been approved by, or registered with, any Norwegian se
Slide 46: International Offer Restrictions (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX C International Offer Restrictions (Cont’d) United Kingdom • Neither this Presentation nor any other document relating to the offer h
Slide 47: Appendix D: Underwriting Agreement Summary
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX D: UNDERWRITING AGREEMENT SUMMARY 47
Slide 48: Underwriting Agreement Summary
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX D Underwriting Agreement Summary Ansell has entered into an underwriting agreement with the Lead Manager in respect of the Placement
Slide 49: Underwriting Agreement Summary (Cont'd)
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX D Underwriting Agreement Summary (Cont’d) b) the Company materially breaches applicable laws, the ASX Listing Rules or its constituti
Slide 50: Appendix E: Glossary
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX E: GLOSSARY 50
Slide 51: Glossary
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm APPENDIX E Glossary AAS – Australian Accounting Standards EPS – Earnings Per Share LatAm – Latin America AASB – Australian Accounting Standard
Slide 52: ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisi…
ibdroot\projects\IBD-HK\Castle2023\921281_1\02 Presentations\FINAL INVESTOR PRESENTATION\Ansell Limited KCPPE Acquisition Equity Raising Presentation vF.pptm 52