Tasfoods Limited · ASX:TFL
Tasfoods — Shareholder Meeting (May 2024)
24 slides from Tasfoods's shareholder meeting presentation, May 30, 2024
Slide 1: Annual General Meeting 30 May 2024
TasFoods Ltd (TFL.ASX) For personal use only Annual General Meeting 30 May 2024
Slide 2: Order of Proceedings
Order of Proceedings CHAIRMAN’S ADDRESS For personal use only CEO ADDRESS ITEMS OF BUSINESS Item 1: Consideration of Financial Statements Resolutions: 1: Adoption of Remuneration Report 2: Re-election of Director – Mr John Murphy 9
Slide 3: Chairman's Address
For personal use only Chairman’s Address
Slide 4: TasFoods Strategic Lens
TasFoods Strategic Lens Four key pillars to enable the business to build a strong foundation and realise its potential For personal use only Fortress Tasmania Mainland/Customer Adjacent Expansion Challenge all aspects of Channels Develop new product our brand, product opportunities in growth Build a
Slide 5: Year in review – A transformative year in an extremely challenging market
Year in review – A transformative year in an extremely challenging market • 2023 saw uncertain business conditions with a backdrop of macro economic factors, including rising inflation and interest rates that impacted household budgets. For personal use only • In TasFoods’ categories it has been par
Slide 6: Year in review – A transformative year in an extremely challenging market
Year in review – A transformative year in an extremely challenging market • Amidst the structural challenges we have targeted new growth streams leveraging core capabilities – achieved a successful launch of Isle and Sky Chicken Pet Treat range with 100% human grade produce and 100% waste For person
Slide 7: FY23 results
FY23 results Removing Impact of Discontinued Operations Sales revenue up 15% on prior year FY23 Profit & Loss For personal use only • Total Revenue of $74.9m up 4.7% on prior year • Group Operating EBITDA loss of $4.6m compared with $7.3m loss in prior year • Net Loss After Tax of $1.0m compared wit
Slide 8: Investor relations
Investor relations Committed to being an accessible and transparent company • Investor relations activities will continue throughout the year For personal use only Reporting against our strategy and key initiatives Continuing to highlight the opportunities intrinsic to the TasFoods business Up
Slide 9: Remuneration
Remuneration Fit for purpose, aligned with strategy and stage of company lifecycle • Remuneration approach considered annually to ensure it is fit for purpose For personal use only • FY23 STI weighted towards financial performance and an EBITDA performance hurdle – nil STI paid in FY23 • Linking of
Slide 10: Outlook – Strengthening the foundations for improved performance
Outlook – Strengthening the foundations for improved performance • Against a very challenging external environment in 2023 we have delivered a much simplified and focused business model aligned around the consumer and the right product portfolio. For personal use only • We are digesting the comprehe
Slide 11: Thank you
Thank you For your continued support in a very challenging environment In a very challenging market environment for Food and Beverage companies we thank everyone on the TasFoods journey For personal use only with us: • All of our employees led by Josh and the leadership team • Our customers • Our su
Slide 12: CEO Address
For personal use only CEO Address
Slide 13: A New TasFoods – significant transformation
A New TasFoods – significant transformation • 2023 has been a year of significant transformation for TasFoods with the most extensive corporate restructuring programme undertaken since its inception to reposition the business. • In 2022 TasFoods announced its new Strategic Focus as the foundation to
Slide 14: Year of extensive restructure and simplification of the business
Year of extensive restructure and simplification of the business FY22 Profit or Loss ($000’s) FY23 FY22 FY23 FY22 FY23 FY22 Total Consolidated Continued Operations Discontinued Operations • Due to the extensive corporate restructuring Income activity in 2023, TasFoods profit/loss statement has For p
Slide 15: Improved financial performance driven by strong revenue result
Improved financial performance driven by strong revenue result • Operating EBITDA performance for Continued operations Discontinued operations Consolidated continued operations is significantly For personal use only 2023 2023 2023 improved from 2022 with the loss reducing Shared Shared Dairy Poultry
Slide 16: Balance sheet – extensive restructuring of core activities
Balance sheet – extensive restructuring of core activities $000's Dec 23 Dec 22 Current Assets • The Group is supported by a balance sheet with a net asset Cash & Cash Equivalents 3,432 351 position of $17.6m (noting property, plant and equipment Trade & Other Receivables Biological Assets 3,209 3,4
Slide 17: Cash flow – significant focus to improve cash position
Cash flow –significant focus to improve cash position $000's FY23 FY22 • Cash flow statement reflects full year activities of continued Cash flows from operating activities and discontinued operations and represent the part year Receipts from customers 76,311 71,722 ownership of divested business un
Slide 18: Our Brand Portfolio and Customer Channels
Our We have simplified ourBrand Portfolioand brand hierarchy & Customer Channels implemented a more focused sales channel strategy For personal use only Brands & Product Strategy Sales Channels Brand that reflects artisan provenance and Tasmanian heritage, targeted at food lovers seeking authenticit
Slide 19: Pet food market and current product range
• The Pet Food market in Australia is estimated to be worth over $3bn with the treats segment accounting for ~10% of the total market demand. • It is estimated that Pet & Pet Supplies retailers generated $3.9bn in revenue Current Product Range for 2022 in Australia, of which pet food accounted for 5
Slide 20: Our brands have won numerous awards
Our brands have won numerous awards showcasing the outstanding quality product we provide to consumers For personal use only 27
Slide 21: FY24 April YTD trading result
FY24 April YTD trading result Pleasing revenue performance whilst input cost and market challenges remain • YTD sales from continued operations as at the end of April is significantly ahead of last year with the Poultry and cheese divisions showing For personal use only growth on pcp. • Poultry divi
Slide 22: Building sustainable business foundation and growth platform
Building sustainable business foundation and growth platform • TasFoods immediate focus will be on the following initiatives; • Nichols hatchery integration to deliver operational and financial benefits For personal use only • Operational efficiencies and labour utilisation at Nichols Poultry • Work
Slide 23: Building sustainable business foundation and growth platform
Building sustainable business foundation and growth platform Accountability, Agile, Right sizing • Safety first culture. For personal use only • Sales and Operational Planning process implemented across the Nichols Poultry and Pyengana Dairy business units. • Vertical integration in Poultry to deliv
Slide 24: Thank you
For personal use only Thank you Contact Joshua Fletcher | CEO E: joshua.fletcher@tasfoods.com.au