Noumi Limited · ASX:NOU
Noumi — Investor Presentation (February 2023)
24 slides from Noumi's investor presentation, Feb 28, 2023
Slide 1: Noumi Limited H1 2023 Results
Noumi Limited H1 2023 Results 28 February 2023
Slide 2: Important notice and disclaimer
Important notice and disclaimer Summary Information Only This presentation criteria contains general information about Noumi Limited and its consolidated entities (“Noumi Limited”) and its activities current as at the date of this presentation. It is provided in summary and does not purport to be co
Slide 3: Agenda
Agenda HY23 OVERVIEW 01 COMPANY EVOLUTION 02 FINANCIAL PERFORMANCE 03 STRATEGY 04 CLOSING REMARKS 05 Noumi Limited HY23 Results 3
Slide 4: HY23 Overview
HY23 Overview Noumi Limited HY23 Results 4
Slide 5: Improved results in all segments – Adj Operating EBITDA up 149%
Improved results in all segments – Adj Operating EBITDA up 149% Milklab leads Plant-based Beverages to a record EBITDA result Reset, Transform, Grow strategy delivers improved results > despite rising inflation and macro-economic uncertainty. Adjusted Operating EBITDA of $11.4m up 149% on HY22 Plant
Slide 6: HY23 Financial & Operating Metrics
HY23 Financial & Operating Metrics h 5.5% 11.3% $279.8m 40.8ML 13.9% Net Revenue Plant-based sales 54.2 ML 12.9% Total export sales h 149.1% $11.4m 109.7ML h 10.8% 1 Adj Op EBITDA Dairy UHT sales 26.7ML h 83.7% Milklab sales $23.6m 14T Statutory Lactoferrin sales net loss after tax 1. Adjusted
Slide 7: HY23 Strategy Achievements
HY23 Strategy Achievements ‘Reset, Transform, Grow’ transformation program that will return the Company to long-term, sustainable and profitable growth Reset Achievements – completion of sale of non-core ✓ shareholding in AFMH and continue to manage other corporate legacy issues Transformation progr
Slide 8: Company's Transformation and Evolution
Company’s Transformation and Evolution Noumi Limited HY23 Results 8
Slide 9: HY23 puts Noumi firmly in the Transform phase
HY23 puts Noumi firmly in the Transform phase HY22 HY22-23 FY23-25 RESET TRANSFORM GROW The financial, structural, operational Actions to Transform the Company Those improvements provide the and cultural Reset of the Company continue, with operational improvements springboard to Grow the business wa
Slide 10: Financial Performance
Financial Performance Noumi Limited HY23 Results 10
Slide 11: HY23 Financial Performance
HY23 Financial Performance Change Net Revenue growth includes domestic dairy price rises and Milklab growth $ million HY23 HY222 Change (%) offsetting deliberately discontinued plant-based products and lower dairy exports Net Revenue 279.8 265.3 14.5 5.5% Adj Operating EBITDA1 11.4 4.6 6.8 149.1% Ad
Slide 12: Financial Performance | Plant-based Beverages
Financial Performance | Plant-based Beverages Financial results Summary of performance Change ($m) HY23 HY223 Change Record earnings, with higher margin revenues almost offsetting (%) discontinued low margin products Net Revenue 81.9 83.3 (1.4) (1.7%) Adjusted Operating EBITDA1, 2 18.6 15.5 3.1 19.8
Slide 13: Financial Performance | Dairy and Nutritionals
Financial Performance | Dairy and Nutritionals Financial results Summary of performance ($m) HY23 HY223 Change Change Unprecedented increase in raw milk prices late in FY22 reset the (%) sector. Domestic price increases achieved progressively through HY23 - export competitiveness impacted Net Revenu
Slide 14: Cash Flow
Cash Flow Summary 31 Dec 31 Dec 2022 2021 Cash flow from continuing operations 18.4 (2.6) > Net cash flow from operations significant turnaround in HY23 US litigation settlement and other litigation costs (8.2) (4.9) Income tax refund 0.0 4.1 Active working capital management to manage the impact of
Slide 15: Strategy
Strategy Noumi Limited HY23 Results 15
Slide 16: Our Growth Strategy
Our Growth Strategy Develop high quality and innovative dairy and plant products to meet the different nutrition and taste needs of customers and consumers across life stages Strategic Transform Dairy Accelerate Deliver Embed Develop Pillars & Nutritionals Plant Beverage world class high-performance
Slide 17: Healthier Tomorrow Plan
Healthier Tomorrow Plan We aim to continuously improve our environmental footprint for future generations Focus areas Waste and Packaging We aim to create • We minimise the waste we products and offer generate, maximising recyclable resources to improve materials and encouraging consumers’ and commu
Slide 18: Strategy | Plant-based Beverages
Strategy | Plant-based Beverages Focus Areas Drive Milklab Oat in out-of-home market to partner with > Milklab Almond Leveraging investment in out-of-home direct sales force to > build market share Build on Milklab’s growing consumer popularity in the > out-of-home and café segment Continued product
Slide 19: Strategy | Dairy and Nutritionals
Strategy | Dairy and Nutritionals Focus Areas Continued focus on margin growth through waste reduction > and other operational efficiencies > Targeted portfolio expansion, focusing on consumer demand Strengthen presence of Consumer Nutritionals branded > portfolio with promotional activity and updat
Slide 20: Trading Outlook
Trading Outlook Plant-based Beverages Dairy has made significant Macro-economic conditions firmly established in growth progress in domestic create some uncertainty. phase markets. However the Company remains positive about the Expect the performance of Export competitiveness progress being made on
Slide 21: Appendix
Appendix Noumi Limited HY23 Results 21
Slide 22: Pre-AASB 16 / Significant Items Reconciliation
Pre-AASB 16 / Significant Items Reconciliation Pre Post Significant 1 Significant items before EBITDA AASB 16 Reported AASB 16 AASB 16 Items Onerous contracts provision 4.0 Net Revenue 279.8 - 279.8 - 279.8 Restructuring expenses (2.5) Operating expenses (268.4) 5.7 (262.7) - (262.7) Other litigatio
Slide 23: Profit and Loss Summary
Profit and Loss Summary 31 Dec 2022 31 Dec 2021 2 Significant items impacting EBITDA 31 Dec 2022 31 Dec 2021 Adjusted Operating EBITDA (pre-AASB 16) from 11.4 4.6 continuing operations1 Onerous contracts provision 4.0 - Rental expense 5.7 6.0 Restructuring expenses (2.5) (2.4) Significant items impa
Slide 24: Noumi Limited HY23 Results
Noumi Limited HY23 Results 24