Slide 1: Another year of excellent results in 2007
Brambles Another year of excellent results in 2007 22 August 2007
Slide 2: 2007 Final Results - Mike Ihlein
2007 Final Results Mike Ihlein Chief Executive Officer Brambles
Slide 3: Another year of excellent results
Another year of excellent results Year ended 30 June 2007 2006 %change % change US$m US$m (actual (constant fx rates) currency) Results before special items Continuing operations: Sales revenue 3,868.8 3,522.1 10 6 Comparable operating profit 932.8 771.3 21 17 Profit after tax 585.7 430.1 36 32 Basi
Slide 4: Brambles completes transformation in FY07
Brambles completes transformation in FY07 ¢ Delivered strong profit growth - Asset disposal program successfully completed * Unification completed ¢ Utilisation of cash — Special Dividend (US$264' million, October 2006) — Cash Alternative (US$950 million, December 2006) — Share Buy-backs (US$1,528?
Slide 5: Strong increase in dividends
Strong increase in dividends ¢ 2007 Final dividend of 17.0 cents — 26% increase (30% in US dollar terms) — Payable 11 October 2007 ¢ Dividends franked to 20% — Consistent with previous guidance — Reduction reflects asset sales and increase in number of shares ¢ Reaffirm progressive dividend policy I
Slide 6: Further enhance shareholder value
Further enhance shareholder value ¢ Focused on increasing shareholder value — Generate greater value from existing assets — Sharing of best practice across our global footprint — Implementation of Accelerated Growth strategy » Organic growth » Potentially augment by selected acquisitions — Ongoing c
Slide 7: Ongoing commitment to capital management
Ongoing commitment to capital management * US$3.4bn utilised over past 18 months — Special dividends, Cash Alternative, share buy-backs « Additional 10% buy-back capacity to be sought — Annual General Meeting on 16 November 2007 6 Brambles
Slide 8: Business highlights
Business highlights « CHEP Americas — Underlying’ sales growth 8%, profits up 28% — Cash flow from operations up US$26 million « CHEP Europe — Sales growth 2%, profits up 6% — Cash flow from operations up US$59 million * CHEP RoW — Sales growth 9%, profits up 11% * Recall — Sales growth 11%, profits
Slide 9: 2007 Final Results - Jasper Judd
2007 Final Results Jasper Judd Group Financial Controller 8 Brambles
Slide 10: Strong growth in profit and BVA
Strong growth in profit and BVA AIFRS US$m US$m US$m % Continuing operations’ Sales revenue 3,868.8 3,732.8 3,522.1 6 Comparable operating profit 932.8 905.8 771.3 17 PBT 872.9 846.0 659.5 28 PAT 585.7 567.7 430.1 32 EPS (cents) 37.8 36.7 25.5 44 Cash flow from operations 838.3 762.6 $75.7m BVA (Jun
Slide 11: Solid sales in continuing operations
Solid sales in continuing operations Actual Constant AIFRS ae a foe Growth % CHEP 3,218.4 3,106.8 2,956.4 5 Recall 650.4 626.0 565.7 11 Continuing operations 3,868.8 3,732.8 3,522.1 6 Discontinued operations 252.1 238.5 2,393.6 nm! Total 4,120.9 3,971.3 5,915.7 41 Not meaningful due to timing of div
Slide 12: ...with strong comparable operating profit growth in both CHEP and Recall
...with strong comparable operating profit growth in both CHEP and Recall Actual Constant FY07 FY07 FY06 Growth AIFRS US$m US$m US$m % CHEP 845.2 821.5 703.8 17 Recall 118.5 113.3 97.5 16 Continuing (pre Brambles HQ) 963.7 934.8 801.3 17 Unallocated Brambles HQ costs (30.9) (29.0) (30.0) 3 Continuin
Slide 13: Strong cash flow generation continues
Strong cash flow generation continues Actual FY07 FY06 Change AIFRS us$m us$m Ussm Comparable operating profit" 932.8 771.3 161.5 Depreciation and amortisation’ 398.3 393.7 46 EBITDA 1,331.1 1,165.0 166.1 Capital expenditure (648.5) (586.4) (62.1) Proceeds from disposals 128.3 122.0 6.3 Working capi
Slide 14: Another year of increased cash flow from CHEP
Another year of increased cash flow from CHEP US$m Cash flow from operations 800 - 700 + 600 + 500 + 400 + 300 + FY05 FY06 FY07 mEurope mAmencas m RoW 13 Brambles
Slide 15: CHEP capex supports growth and Perfect Plants
CHEP capex supports growth and Perfect Plants Us$m 350 4 350 4 300 7 CHEP Americas CHEP Europe m FY05 m FY06 m FYO7 14 Brambles
Slide 16: BVA - CHEP continues to deliver
BVA -CHEP continues to deliver AIFRS, June 06 rates 5 ssi Ussm ssa CHEP Americas 255 171 84 CHEP Europe 137 116 21 CHEP ROW 85 72 13 CHEP 477 359 118 Recall 14 13 1 Continuing (pre Brambles HQ) 491 372 119 Unallocated Brambles HQ costs (20) (22) 2 Total continuing operations 471 350 121 15 Brambles
Slide 17: Financial ratios
Financial ratios AIFRS, Actual rates June 07 June 06 Facilities Closing Net Debt (US$m) 1,690.1 3,692.5 Interest covert (x) * Comparable operating profit 16.3 9.7 - EBITDA 22.9 13.9 Net Debt / EBITDA’ (x) 1.5 1.1 Gearing (%) 58.4 36.4 (Net Debt/Net Debt & Equity) Indicative Interest cover - based up
Slide 18: Sales growth
Sales growth Actual Constant FY07 FY07 FY06 Growth AIFRS US$m USs$m US$m % Americas 1,429.7 1,425.2 1,326.2 71 Europe 1,372.8 1,271.5 1,252.7 2 RoW 415.9 410.1 377.5 9 Sales revenue 3,218.4 3,106.8 2,956.4 5 1 The underlying growth in sales was 8% after adjusting for the impact of sale of RPC assets
Slide 19: Americas continues strong profit growth
Americas continues strong profit growth cHEr Comparable operating profit Actual Constant AIFRS FY07 FY07 FY06 Growth US$m US$m US$m % Americas 416.9 415.4 324.9 28 Europe 300.6 278.5 263.6 6 RoW 127.7 127.6 115.3 11 Total 845.2 821.5 703.8 17 Profit margin 26% 26% 24% 2 pp Growth % calculated on US$
Slide 20: Americas - Volume and efficiencies deliver gains
Americas — Volume and efficiencies CHEP deliver gains ¢ US$m FYO6 Volume, Price = Transportation Plant costs Other FYO7 Comparable & Mix Comparable operating profit operating profit All numbers are calculated at constant currency 19 Brambles
Slide 21: Europe - Increased transport costs offsetting efficiencies
Europe — Increased transport costs _. CHEP offsetting efficiencies c US$m 264 5 (13) RPC Brentwood Lumber Madrid +13 T T T FYO6 Volume, Price Transportation Plant costs Other FYO7 Comparable & Mix Comparable operating profit operating profit All numbers are calculated at constant currency SSS ee 20
Slide 22: Stronger organic growth
Stronger organic growth Actual Constant Organic AIFRS FY07 FY07 FY06 Growth Growth us$m us$m Us$m % % Americas 307.7 304.8 279.4 92 Europe 167.1 154.5 148.6 4) RoW 175.6 166.7 137.7 212 Sales revenue 650.4 626.0 565.7 11 8 Comparable operating profit 118.5 113.3 97.5 16 Profit margin (%) 18 18 17 1
Slide 23: Approx 30% of Group profit after tax in US$
Approx 30% of Group profit after tax in US$ Currency mix at Actual FX rates Total USD ~ US$m, AIFRS Sales revenue! 3,868.8 1,329.2 34 Comparable operating profit1 932.8 338.2 36 Net debt? 1,996.9 1,602.1 80 1 Continuing operations 2 Net debt shown after adjustments for impact of financial derivative
Slide 24: Effective tax rate - continuing operations
Effective tax rate — continuing operations Actual Actual AIFRS FY07 FY06 Us$m UsS$m PBT! 872.9 659.5 Tax' 287.2 229.4 Effective tax rate % of PBT 32.9% 34.8% 1 Before special items 23 Brambles
Slide 25: Special items
Special items Actual FY07 FY06 AIFRS UsS$m US$m Amortisation of acquired intangible assets (6.0) (3.4) Stamp duty on Unification (28.8) - Restructuring and Unification costs (76.0) (45.5) Recall restructuring costs (26.0) - AUSDOC integration costs - (21.3) Special items from continuing operations (
Slide 26: 2007 Final Results - Mike Ihlein
2007 Final Results Mike Ihlein Chief Executive Officer Brambles
Slide 27: Very positive outlook for 2008
Very positive outlook for 2008 * CHEP - another year of strong profit growth — CHEP Americas — continued good performance — CHEP Europe » Sales growth accelerating in second half » Focus on operational efficiencies and margin expansion — CHEP RoW - another year of solid profit growth « Recall — cont
Slide 28: Excellent result and great future
Excellent result and great future * 36% increase in Profit after tax for continuing operations * 26% increase in the Final dividend * $3.4 billion of capital management initiatives completed ¢« Very positive 2008 Outlook * Opportunities to accelerate sales growth to double digit — New organisation s
Slide 29: Disclaimer statement
Disclaimer statement The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrict
Slide 30: Brambles 2007 Final Results
Brambles 2007 Final Results 22 August 2007
Slide 31: Contact details
Contact details John Hobson Head of Investor Relations john.hobson@brambles.com +61 (2) 9256 5216 Michael Sharp Vice President Corporate Affairs michael.sharp@brambles.com +61 (2) 9256 5255 30 Brambles
Slide 32: Glossary of terms & measures Appendix 1a
Glossary of terms & measures Appendix 1a Except where noted, common terms and measures used in this document are based upon the following definitions: Sales revenue Comparable operating profit PBT PAT EPS DPS Shares in issue Organic growth Constant currency Excludes revenues of associates and non tr
Slide 33: Glossary of terms & measures Appendix 4b
Glossary of terms & measures Appendix 4b Except where noted, common terms and measures used in this document are based upon the following definitions: Actual rates Continuing operations Discontinued operations Unallocated Brambles HQ costs Associates Special items Unification Based upon conversion o
Slide 34: Glossary of terms & measures Appendix 1c
Glossary of terms & measures Appendix 1c Except where noted, common terms and measures used in this document are based upon the following definitions: Cash flow from Cash flow generated after net capital expenditure and before special items operations Free Cash Flow Cash flow generated after net cap
Slide 35: USA - Plant operations & transportation trends
USA - Plant operations & transportation trends aad Plant cost ratio Gross transportation cost ratio (Plant costs / Sales) (Transportation costs / Sales) 35% 4 35% | 30% 30% - 25% 4 25% 4 20% 20% Fy02 FY03 FY04 FY05 FY06 FY07 FY02 FY03 FY04 FY05 FY06 FY07 34 Brambles
Slide 36: USA - Asset productivity trends
USA - Asset productivity trends Appendix 2b Control ratio New equipment issue ratio (Returns + Recoveries / Total Issues) (Pallets purchased / Total issues) 100% 5 12% 5 10% J 98% 4 8% + 96% 4 6% - 4% | 94% 4 2% + 92% 0% FY02 FY03 FY04 FY05 FY06 FY07 FY02 FY03 FY04 FY05 FY06 FY07 35 Brambles
Slide 37: Europe - Plant operations & transportation trends
Europe - Plant operations & Appendix 2c transportation trends Plant cost ratio Gross transportation cost ratio (Plant costs / Sales) (Transportation costs / Sales) 35.0% 4 28.0% + 30.0% 4 24.0% + ee 25.0% 20.0% 4 20.0% 16.0% FY02 FY03 FY04 FY05 FY06 FY07 FY02 FY03 FY04 FY05 FY06 FY07 Major pallet si
Slide 38: Europe - Asset productivity trends
Europe — Asset productivity trends Appendix 2d Control ratio New equipment issue ratio (Returns + Recoveries / Total Issues) (Pallets purchased / Total issues) 96% 12% 10% - 94% + 8% 4 a a 92% 4 4% 4 2% + FY02 FY03 FY04 FYO5 FY06 FYO07 FY02 FY03 FY04 FY05 FY06 FYO7 Major pallet sizes (B1210A and B12
Slide 39: FY07 Currency mix
FYO7 Currency mix Appendix 2e FY07 Currency mix at Actual FX rates Total USD EUR GBP AUD Other US$m, AIFRS Continuing operations 3,868.8 1,329.2 1,014.2 454.9 425.4 645.1 sales revenue Continuing operations comparable operating 932.8 338.2 239.7 71.6 99.9 183.4 profit Net debt! 1,996.9 1,602.1 (647.
Slide 40: FY06 Currency mix
FYO6 Currency mix Appendix 2f FY0O6 Currency mix at Actual FX rates Total USD EUR GBP AUD Other US$m, AIFRS Continuing operations =~ 35994 12452 += 922.1 4230 3598 5720 sales revenue Continuing operations comparable operating 771.3 256.7 176.6 99.5 76.7 161.8 profit Net debt 1,690.1 833.5 (497.0) 1,