Shriro Holdings Ltd. · ASX:SHM
Shriro — FY2015 Earnings Presentation
15 slides from Shriro's earnings presentation, Feb 29, 2016
Slide 1: 2015 Full Year Results Briefing Presentation
For personal use only 2015 Full Year Results Briefing Presentation March 2016
Slide 2: Group Performance Highlights
For personal use only Group Performance Highlights ............ Michael Westrup Chief Executive Officer Shriro Holdings Limited ............ 2015 FULL YEAR RESULTS | 2
Slide 3: Highlights
Highlights For personal use only • Revenue in line with the Prospectus forecast, an increase of 5.3% on CY14 • Strong Gross Margin performance despite the Australian dollar being weaker than CY14 • Disciplined Operating Expense control resulting in strong pro forma EBITDA growth • Working capital in
Slide 4: Pro Forma Profit & Loss Statement
Pro Forma Profit & Loss Statement For personal use only Year Ended 31 December 2015 CY CY Prospectus • Sales were in line with the Prospectus $ Million Change Difference forecast (up 5.3% on CY14) 2015 2014 Forecast Revenue from ordinary • Strong margin performance, despite a 186.3 177.0 5.3% 187.0
Slide 5: Segment Performance – Consumer Products
Segment Performance – Consumer Products For personal use only Prospectus $ Million CY 2015 CY 2014 Change Difference Forecast Revenue 100.1 92.2 8.6% 94.1 6.4% EBITDA 16.8 14.6 15.1% 13.5 24.4% EBITDA 16.8% 15.8% 14.3% Margin • Consumer Products performed very well, with revenue growing by 8.6% to $
Slide 6: Segment Performance – Kitchen Appliances
Segment Performance – Kitchen Appliances For personal use only Prospectus $ Million CY 2015 CY 2014 Change Difference Forecast Revenue 86.2 86.0 0.2% 92.9 (7.2%) EBITDA 5.7 5.2 1.0% 6.4 (10.9%) EBITDA 6.6% 6.0% 6.9% Margin • Kitchen Appliances revenue was flat on the prior year and 7.1% below the Pr
Slide 7: Shareholder Return
Shareholder Return For personal use only Dividends • Dividend of 6.0 cents per share, fully franked • Relates to profit from the date of listing to 31 December 2015 • Record date of 17 March 2016 and to be paid 31 March 2016 • Represents a payout ratio of around 60% - in line with the Prospectus 201
Slide 8: Balance Sheet & Cash Flow
For personal use only Balance Sheet & Cash Flow ............ Shane Booth Chief Financial Officer Shriro Holdings Limited ............ 2015 FULL YEAR RESULTS | 8
Slide 9: Cash Flows - Statutory
Cash Flows - Statutory For personal use only Year Ended 31 December 2015 2015 2014 $M $M Cash flows from operating activities • Strong cash flow from Operating Receipts from customers 205.2 192.8 Payments to suppliers and employees (174.0) (175.3) Activities of $24.9 million Net Finance Costs Paid (
Slide 10: Balance Sheet - Statutory
Balance Sheet - Statutory As at 31 December 2015 For personal use only 2015 2014 $M $M Current assets Cash and cash equivalents 1.0 2.1 • Net debt reduced from $37.3 Trade and other receivables 31.6 31.9 Inventories 39.6 46.2 million down to $9.4 million Other assets & Derivative Receivable 1.1 0.5
Slide 11: Summarised Pro Forma Results Compared to Prospectus
Summarised Pro Forma Results Compared to Prospectus For personal use only Year Ended 31 December 2015 Actual Prospectus Proforma Forecast CY15 CY15 Sales 186.3 187.0 Gross Margin 42.6% 42.1% Operating Expenses (57.3) (58.8) EBITDA 22.1 19.9 NPAT 12.4 10.0 DEBT | EBITDA 0.4X 1.0X 2015 FULL YEAR RESUL
Slide 12: Outlook
Outlook For personal use only • Financial performance is biased to the second half due to seasonal influences • Low current visibility on full CY16 likely results • Generally expect demand growth in CY16 to be modest • Planned marketing initiatives will help, but will mostly benefit CY17’s result •
Slide 13: Appendix: Statutory Results and Pro forma Bridge
For personal use only Appendix Statutory Results and Pro forma Bridge
Slide 14: Statutory Profit & Loss Statement
Statutory Profit & Loss Statement For personal use only Year Ended 31 December 2015 Prospectus $ Million CY 2015 CY 2014 Change Difference Forecast Revenue from ordinary activities 186.3 177.7 4.8% 187.0 (0.4%) Gross Margin % 42.7% 42.1% 42.1% Operating expenses (62.9) (58.0) 8.4% (64.1) (1.9%) EBIT
Slide 15: Reconciliation – Statutory to Pro Forma
Reconciliation – Statutory to Pro Forma For personal use only Year Ended 31 December 2015 Prospectus Actual Forecast CY15 CY15 NPAT Statutory 7.1 4.8 IPO Costs 5.0 4.8 Employee Share Plan 0.2 0.3 MEP 0.4 0.4 ASX Costs (0.2) (0.2) Interest 0.2 0.2 Tax (0.3) (0.3) NPAT Pro Forma 12.4 10.0 2015 FULL YE