Pz Cussons Plc · LSE:PZC
Pz Cussons — FY2019 Earnings Presentation
13 slides from Pz Cussons's earnings presentation, May 31, 2019
Slide 1: Year End Results
PZ CUSSONS PLC YEAR END RESULTS | 31 MAY 2019 YEAR END RESULTS PZ Cussons Plc 31 May 2019
Slide 2: Overview
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC OVERVIEW Moderate decline in revenue of 2.6% at Improvement in net debt, following a stronger constant currency – driven by weak economic focus on cash management throughout the conditions in Africa, partially offset by a solid business – reduction to £1
Slide 3: Operating Results
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC OPERATING RESULTS Alan Bergin Interim Chief Financial Officer alan.bergin@pzcussons.com Tel: +44 161 435 1236 03
Slide 4: Group Results
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC GROUP RESULTS Year ended Constant Overall decline in revenue of -2.6% Year ended 31 May2018 Reported currency largely impacted by Africa with solid 31 May 2019 (Restated)* % change % change performance in Asia Pacific and Revenue £689.4m £739.8m (6.8%) (
Slide 5: Europe & the Americas Results
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC EUROPE & THE AMERICAS RESULTS 2018 Reported Constant currency 2019 (Restated)* % change % change Revenue £264.0m £264.4m (0.2%) (0.1%) Adjusted operating profit £57.1m £60.8m (6.1%) (6.2%) Operating margin % 21.6% 23.0% Average NWC % 11% 12% Revenue flat
Slide 6: Asia Pacific Results
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC ASIA PACIFIC RESULTS 2018 Reported Constant currency 2019 (Restated)* % change % change Revenue £193.0m £201.3m (4.1%) (1.2%) Adjusted operating profit £20.4m £18.6m 9.7% 13.7% Operating margin % 10.6% 9.2% Average NWC % 15% 15% Revenue small decline wit
Slide 7: Africa Results
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC AFRICA RESULTS 2018 Reported Constant currency 2019 (Restated)* % change % change Revenue £232.4m £274.1m (15.2%) (6.4%) Adjusted operating profit (£1.0m) £6.3m (115.9%) (117.7%) Operating margin % (1.4%) 1.8% Average NWC % 45% 34% Africa remains a chall
Slide 8: Cash Flow and Net Debt
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC CASH FLOW AND NET DEBT Strong balance sheet with new banking facility in place until 2023 Maintained discipline over credit, working capital and capex management Overall net debt declines to £152.2m and remains a focus for the business 8
Slide 9: Strategy
PZ CUSSONS PLC YEAR END RESULTS | 31 MAY 2019 9 STRATEGY
Slide 10: Strategy for Growth
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC STRATEGY FOR GROWTH Future investment focused on key brands and categories in key geographies: — Europe & the Americas — Asia Pacific — Africa Within five years, aim to deliver four-fifths of revenue from Beauty and Personal Care Simplification of our Ni
Slide 11: Strategy for Growth: Focus, Scale, Accelerate
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC STRATEGY FOR GROWTH FOCUS SCALE ACCELERATE High-margin, Beauty and Scale brands in high- Beauty and Personal Care Personal Care categories potential established to drive largest share of and new markets revenue and profit growth Homecare maintained to pr
Slide 12: Summary
YEAR END RESULTS | 31 MAY 2019 PZ CUSSONS PLC SUMMARY Solid performance in Europe & the Americas and Asia Pacific Africa remains a challenge Balance sheet remains strong Current economic conditions remain challenging whilst we transition to a return to revenue growth with increased reinvestment behi
Slide 13: Thank you
Cussons Thank you