Nichols Plc · LSE:NICL
Nichols — Investor Day (November 2024)
81 slides from Nichols's investor day presentation, Nov 6, 2024
Slide 1: Capital Markets Day
CAPITAL MARKETS DAY 6TH NOVEMBER 2024
Slide 2: Flow of the Day
FLOW OF THE DAY 01 Welcome and Nichols Overview: Andrew Milne, CEO 02 Financial Outcomes & Capital Allocation: Richard Newman, CFO Helen Hartley, UK Packaged Commercial Director, and 03 UK Packaged: Angela Reay, Marketing Director Q&A and break 04 International Packaged: Matt Nichols, International
Slide 3: Who You Will Meet
WHO YOU WILL MEET ANDREW MILNE RICHARD NEWMAN HELEN HARTLEY ANGELA REAY CHIEF FINANCIAL UK PACKAGED CHIEF EXECUTIVE OFFICER MARKETING DIRECTOR OFFICER COMMERCIAL DIRECTOR MATT NICHOLS ED SHOEBRIDGE GARY BROOKES SARAH CADDY INTERNATIONAL OUT OF HOME SUPPLY CHAIN & LEGAL DIRECTOR COMMERCIAL DIRECTOR C
Slide 4: Key Takeaways
KEY TAKEAWAYS 01 02 03 Resilient and growing Proactive actions UK Packaged area category with a taken to deliver offers headroom strong portfolio of platform for next phase for growth brands of growth 04 05 Acceleration Clear financial ambitions opportunity in high to be delivered over the growth In
Slide 5: Vimto heritage
Vimto is a soft drink that has it all. Way back in Edwardian Manchester (1908 to be precise), John Noel Nichols created the drink we all know and love. Originally created as a herbal tonic, a combination of fruits, herbs and spices was first known as Vimtonic as it gave drinkers “vim” (energy, enthu
Slide 6: We Have a Strong Portfolio of Brands: UK Packaged
WE HAVE A STRONG PORTFOLIO OF BRANDS UK PACKAGED Capital Markets Day | November 2024 | 6
Slide 7: We Have a Strong Portfolio of Brands: International
WE HAVE A STRONG PORTFOLIO OF BRANDS INTERNATIONAL Capital Markets Day | November 2024 | 7
Slide 8: We Have a Strong Portfolio of Brands: Out of Home
WE HAVE A STRONG PORTFOLIO OF BRANDS OUT OF HOME Capital Markets Day | November 2024 | 8
Slide 9: Our Business Is Well Diversified
OUR BUSINESS IS WELL DIVERSIFIED PACKAGED BUSINESS – 75% REVENUE OUT OF HOME – 25% REVENUE UK PACKAGED INTERNATIONAL OUT OF HOME • Outsourced manufacturing and • Concentrate and export business • Post mix and frozen business logistics • Strong partnerships in place • Simplified business model • Stro
Slide 10: The Markets We Operate in Offer Us Differentiation
THE MARKETS WE OPERATE IN OFFER US DIFFERENTIATION Nichols plc is an international soft drinks business with sales globally. Group revenue (%) Today, our iconic Vimto brand is sold in over 60 countries. 5 UK Packaged UK OoH 4 Revenue Revenue 1 £83.9m Revenue £43.6m 3 £170.7m Middle East Africa Rest
Slide 11: A Motivated and Highly Engaged Team
A MOTIVATED AND HIGHLY ENGAGED TEAM 96% 98% 96% 94% 94% 2024 2024 2024 2024 2024 WOULD LIKE TO BE OF OUR EMPLOYEES SMT BEHAVE IN FEEL POSITIVE THE LEADERSHIP AT VIMTO IN 12 ARE PROUD TO ACCORDANCE WITH ABOUT WORKING TEAM HAVE MONTHS WORK AT VIMTO OUR VALUES & AT VIMTO COMMUNICATED A 2022: 95% 2022:
Slide 12: Building Strong Partnerships for the Long-Term
BUILDING STRONG PARTNERSHIPS FOR THE LONG-TERM Middle East partner UK Packaged partners • Long-term collaborative partnerships • Established partnerships with key industry suppliers • Driving capacity capability and contingency Capital Markets Day | November 2024 | 12
Slide 13: Growing and Resilient Global Soft Drinks Market
WE OPERATE IN A GROWING AND RESILIENT GLOBAL SOFT DRINKS MARKET Global soft drinks volume, value, and price per litre performance, 2018 – 2028F Billion litres 2022-2028F CAGR $ billion 10.2% value PPL $ 2000 3.0% volume 2.8 $1.63 1800 $1.56 1.8 1600 $1.48 1.6 $1.33 $1.41 1400 $1.17 1.4 1200 $0.97 $1
Slide 14: Local Market Data
LOCAL MARKET DATA Middle East & Africa UK Value performance - 2022-2028F CAGR Value performance - 2022-2028F CAGR 10.7% 4.6% Volume performance - 2022-2028F CAGR Volume performance - 2022-2028F CAGR 5.2% 0.8% Source: GlobalData – Global Soft Drinks Performance and Outlook 2023 , Global Soft Drinks O
Slide 15: Our Strategy Is Clear and Focused
OUR STRATEGY IS CLEAR AND FOCUSED ACCELERATE GROWTH IN OUR PACKAGED BUSINESS DRIVE BOTTOM LINE VALUE FROM OUT OF HOME MORE FROM THIRST FUEL FOR HAPPIER THE CORE FOR NEW GROWTH FUTURE Accelerating organic Driving incremental Fuel growth through Building a happier growth through core growth through ef
Slide 16: Key Takeaways
KEY TAKEAWAYS 01 02 03 Resilient and growing Proactive actions UK Packaged area category with a taken to deliver offers headroom strong portfolio of platform for next phase for growth brands of growth 04 05 Acceleration Clear financial ambitions opportunity in high to be delivered over the growth In
Slide 17: Financial Outcomes
FINANCIAL OUTCOMES
Slide 18: Key Financial Takeaways
KEY FINANCIAL TAKEAWAYS 01 02 Confirmation of short- Financial ambitions term financial delivery over the medium-term 03 04 Key drivers of growth Capital allocation and margin enhancement priorities Capital Markets Day | November 2024 | 18
Slide 19: Delivering Against Our Strategic Priorities
DELIVERING HY24 financial results delivered: AGAINST OUR STRATEGIC Adjusted PBT growth of +18.0% vs HY23 PRIORITIES Volume (+4.9%) and revenue (+5.3%) growth in UK Packaged International growth weighted to H2 Successful implementation of Out of Home Strategic Review Announcement of special dividend
Slide 20: Our Medium-Term Financial Ambition
OUR MEDIUM-TERM FINANCIAL AMBITION Strong balance sheet to augment medium-term ambition with M&A FY23 Actual FY24 Consensus Medium-Term Ambition Change (Organic) Revenue £170.7m £172.6m £225m +30% Profit margin Adjusted profit before tax 15.9% 17.5% 20% +250bps Profit before Tax Adjusted £27.2m £30.
Slide 21: Accelerating Our Financial Performance: Growth Drivers
ACCELERATING OUR FINANCIAL PERFORMANCE Key growth drivers Innovation accelerating our new product development Increased distribution significant headroom within existing markets Geographic expansion new and emerging international opportunities Brand investment increased investment to drive long-term
Slide 22: Accelerating Our Financial Performance: Margin Drivers
ACCELERATING OUR FINANCIAL PERFORMANCE Key margin drivers Promotional spend optimisation in the UK Price and mix Pricing optimisation within our OoH business Changing mix in our International business model Procurement and materials planning benefits from ERP Cost of goods Contract manufacturing sca
Slide 23: Capital Allocation
CAPITAL ALLOCATION Ability to deliver strategy and create shareholder value 01 Investments in 0 2 Progressive 0 3 Potential M&A 04 Surplus cash profitable ordinary returned to growth dividend shareholders Brand and customer A sustainable policy Complementary Retaining a cash investment to grow (2.0x
Slide 24: Key Financial Takeaways
KEY FINANCIAL TAKEAWAYS 01 02 Confirmation of short- Financial ambitions term financial delivery over the medium-term 03 04 Key drivers of growth Capital allocation and margin enhancement priorities Capital Markets Day | November 2024 | 24
Slide 25: UK Packaged
UK PACKAGED Capital Markets Day | November 2024 | 18
Slide 26: Key UK Packaged Takeaways
KEY UK PACKAGED TAKEAWAYS 01 02 03 Large, resilient and Strong Vimto growth Clear and focused UK growing category track record with strategy to deliver positive momentum market share growth Capital Markets Day | November 2024 | 26
Slide 27: Scaled, Versatile & Growing Market
SCALED, VERSATILE & GROWING MARKET Market size & scale • Inflation continues to drive value but volume returns to positive growth LAST 52 WEEKS PERFORMANCE 1 • A resilient soft drinks market Total ‘take home’ Value Volume soft drinks • High penetration category – 99%2 Value £13.3bn +5.5% +1.3% • Del
Slide 28: Soft Drinks Category Powerhouse
SOFT DRINKS CATEGORY • 18 sub-categories; 14 deliver 99% of value and volume • 5 “powerhouse” categories deliver 71% value and 76% volume • Nichols operates across 5 sub-categories which deliver 41% value and 32% volume POWERHOUSE COLA ENERGY PLAIN WATER FRUIT JUICE FLAV CARBS VALUE VOLUME VALUE VOL
Slide 29: Our Portfolio Is Diversified & Differentiated
OUR PORTFOLIO IS DIVERSIFIED & DIFFERENTIATED ESTABLISHED AND GROWING BRANDED SOFT DRINKS PLAYER - PORTFOLIO VALUE OF £128M RETAIL SALES VALUE Squash Flavoured Carbs Fruit Drinks Energy Flavoured Water £120M RSV Licensed £8M RSV Capital Markets Day | November 2024 | 29 Source: Nielsen IQ RMS for the
Slide 30: Established Distribution with Significant Growth Potential
ESTABLISHED DISTRIBUTION WITH SIGNIFICANT GROWTH POTENTIAL UK TRADING CHANNELS Grocery Discounters Convenience Wholesale E-commerce • Well established portfolio presence across multiple channels • Squash now with an established 80% weighted distribution • Multiple portfolio touch points in store to
Slide 31: Current Context Summary
CURRENT CONTEXT SUMMARY 01 02 Well positioned for next Category growth phase of growth continues with proven resilience & adaptability 03 04 Established portfolio Significant potential & distribution for further growth Capital Markets Day | November 2024 | 31
Slide 32: Our Vimto Success Story
OUR VIMTO SUCCESS STORY – BUILDING A £120M BRAND! UNIQUE, ICONIC & HERITAGE BRAND STRONG CONSUMER ENGAGEMENT SCALED MULTI-CATEGORY PRESENCE DIVERSIFIED CHANNEL, CUSTOMER & LONG TERM BRAND BUILDING INVESTMENT COMMERCIAL STRATEGY DELIVERED 82% VALUE GROWTH OVER LAST 10 YEARS: +£54.4M RETAIL SALES VALU
Slide 33: Clear & Focused Strategy for Profitable Future Growth
CLEAR & FOCUSED STRATEGY FOR PROFITABLE FUTURE GROWTH ACCELERATE VIMTO EXPAND LICENSED SOFT DRINKS UNLOCK NEW GROWTH SPACES • Grow core categories • Active pipeline of new licensed • Acquire in high value, high • Expand into new needs and brands across core categories growth, high margin categories
Slide 34: Accelerating Vimto – Grow Core Categories
ACCELERATING VIMTO – GROW CORE CATEGORIES LEVERAGE CATEGORY STRATEGY INSIGHT-LED BRAND EXPAND DISTRIBUTION TO BUILD WINNING PRODUCT AND BUILDING, CONVERTING AND FORMAT STRATEGIES AWARENESS TO PURCHASE WIN AT POINT OF PURCHASE Capital Markets Day | November 2024 | 34
Slide 35: Accelerating Vimto – New Needs & Occasions
ACCELERATING VIMTO – NEW NEEDS & OCCASIONS MACRO CONSUMER TRENDS ACQUISITION VIMTO INNOVATION HUNTING GROUND PRIORITIES PRIORITIES SUPERCHARGE UNLOCK Health seen as a lifestyle and no UNLEASH ENERGY SQUASH PREMIUMISATON longer aspirational but integral Consumers looking for elevated experiences – ex
Slide 36: Incremental Growth Through Targeted Acquisition
INCREMENTAL GROWTH THROUGH TARGETED ACQUISITION MACRO CONSUMER TRENDS ACQUISITION HUNTING GROUND PRIORITIES HEALTH & WELLBEING NEXT GENERATION EVENING Health seen as a lifestyle and no ENERGY longer aspirational but integral Consumers looking for elevated experiences – experimentation and quality Co
Slide 37: Key UK Packaged Takeaways
KEY UK PACKAGED TAKEAWAYS 01 02 03 Large, resilient and Strong Vimto growth Clear and focused UK growing category track record with strategy to deliver positive momentum market share growth Capital Markets Day | November 2024 | 37
Slide 38: Q&A and Break
Q&A AND BREAK
Slide 39: International Packaged
INTERNATIONAL PACKAGED
Slide 40: Key International Packaged Takeaways
KEY INTERNATIONAL PACKAGED TAKEAWAYS 01 02 03 ICONIC BRAND ASSET LIGHT MODELS GEOGRAPHIC EXPANSION • More than mainstream • Margin accretive • High potential markets • Future generations • Risk reduced • High margin • Organic growth • Agile categories • Further diversification Capital Markets Day |
Slide 41: Market Overview Revenue
Rest of World - MARKET Europe & N. America OVERVIEW 20% REVENUE 80% Middle East & Africa Capital Markets Day | November 2024 | 41
Slide 42: goat a ta vie
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Slide 43: Market Overview - Middle East
MARKET OVERVIEW - MIDDLE EAST Local production Local Production strategyStrategy Capital Markets Day | November 2024 | 43
Slide 44: Local Production
LOCAL PRODUCTION FLAVOUR HOUSE £ PAYMENT RECEIVED BOTTLER / LICENSEE MARKET 480 12m DRUMS LITRES Capital Markets Day | November 2024 | 44
Slide 45: Market Overview - Middle East
MARKET OVERVIEW - MIDDLE EAST Local production strategy Heritage and tradition 96 year partnership Differentiated position and portfolio #1 cordial and #2 RTD in Saudi Capital Markets Day | November 2024 | 45
Slide 46: Market Overview - Africa
MARKET OVERVIEW - AFRICA Predominantly export model Capital Markets Day | November 2024 | 46
Slide 47: Export
EXPORT FLAVOUR HOUSE CO-PACKER £ PAYMENT RECEIVED DISTRIBUTOR MARKET 2,418 19k CASES LITRES Capital Markets Day | November 2024 | 47
Slide 48: Market Overview - Africa
MARKET OVERVIEW - AFRICA Predominantly export model Heritage and tradition Partnerships with well-established distributors and bottlers 2nd most purchased CSD brand in Senegal Africa population and GDP in significant growth Capital Markets Day | November 2024 | 48
Slide 49: Market Overview – Europe & N. America
MARKET OVERVIEW – EUROPE & N. AMERICA Consumers comprising Middle Eastern / African migrants Speciality distribution partners Cordial, single and multi-serve carbs Low barriers to entry, higher retail pricing USA ethnic grocery market $56 billion1 1Source: Ibisworld Capital Markets Day | November 20
Slide 50: Our Strategic Growth Drivers
OUR STRATEGIC GROWTH DRIVERS MIDDLE EAST AFRICA GEOGRAPHIC EXPANSION • Organic growth • West Coast production • Malaysia • Portfolio expansion • Nichols Senegal • South Africa Capital Markets Day | November 2024 | 50
Slide 51: Middle East: Organic Growth
MIDDLE EAST ORGANIC GROWTH • Protect and grow • Leverage brand equity • World class campaigns • Win in new occasions • Emotional connection • Fit for the future Capital Markets Day | November 2024 | 51
Slide 52: Middle East: Portfolio Expansion
MIDDLE EAST PORTFOLIO EXPANSION • Health and wellness trend • Flavours • Legislation • Fortification • Incremental growth • New demand spaces Capital Markets Day | November 2024 | 52
Slide 53: Africa – Local Production
AFRICA – LOCAL PRODUCTION MOVE TO LOCAL • No 1 priority to • Volume growth introduce local • ESG benefits canned production • Enhanced margin • Risk mitigation • Quality maintained Capital Markets Day | November 2024 | 53
Slide 54: Africa – Nichols Senegal
AFRICA – NICHOLS SENEGAL NICHOLS SENEGAL • Regional hub • Brand protection • Local talent • Marketing activations • Partner support • Blueprint Capital Markets Day | November 2024 | 54
Slide 55: Geographic Expansion
GEOGRAPHIC EXPANSION MALAYSIA SOUTH AFRICA • 32m people • 9.8bn litres soft drinks market • 65% Muslim • Carbs is 21%, similar size to UK and • Large and stable cordial market 40x Senegal (190m litres) • Cordial market largest in Africa • Member of ASEAN1 (18x Saudi Arabia) • Targeted market entry:
Slide 56: Malaysia
MALAYSIA INTEGRATED LAUNCH COMMITTED LOCAL LISTING IN MALAYSIA’S 1ST PRODUCTION PLAN TO DRIVE PARTNERS TOP RETAILERS AWARENESS & TRIAL • Quality bespoke recipe • Local manufacturer • National distribution • Sampling, roadshows, • Source of Vitamin C • Local distributor • 2,900 outlet exclusivity • I
Slide 57: Geographic Expansion
GEOGRAPHIC EXPANSION MALAYSIA SOUTH AFRICA • 32m people • 9.8bn litre soft drinks market • 65% Muslim • Carbs is 21%, similar size to UK and • Large and stable cordial market 40x Senegal (190m litres) • Cordial market largest in Africa • Member of ASEAN (18x Saudi Arabia) • Targeted market entry: Q4
Slide 58: Key International Packaged Takeaways
KEY INTERNATIONAL PACKAGED TAKEAWAYS 01 02 03 ICONIC BRAND ASSET LIGHT MODELS GEOGRAPHIC EXPANSION • More than mainstream • Margin accretive • High potential markets • Future generations • Risk reduced • High margin • Organic growth • Agile categories • Further diversification Capital Markets Day |
Slide 59: Out of Home
OUT OF HOME
Slide 60: Key Out of Home Takeaways
KEY OUT OF HOME TAKEAWAYS 01 02 03 SIMPLIFIED OOH MODEL ROOM TO GROW PROFITABILITY • OoH strategic review • Distribution • Disciplined capital delivering investment policy • Range • Strong operating profit growth Capital Markets Day | November 2024 | 60
Slide 61: The OoH Soft Drinks Market Has Scale
THE OOH SOFT DRINKS MARKET HAS SCALE 280,000 outlets – 2/3 of those with a 53% £3.4bn Coke post mix offer Post Mix £7.6bn UK OOH Total UK OOH soft drinks market value of £7.6bn – post mix = £3.4bn 19% market Britvic value Source: CGA OOH Date June 2024 28% Other Capital Markets Day | November 2024 |
Slide 62: Strategic Review of OoH Is Complete
STRATEGIC REVIEW OF OOH IS COMPLETE EXITED FROM UNPROFITABLE CUSTOMERS/CHANNELS AND DELIVERING SIMPLIFICATION OF OPERATING COSTS AND PRODUCT PORTFOLIO IMPROVED FINANCIAL REPORTING/CAPITAL INVESTMENT POLICY Capital Markets Day | November 2024 | 62
Slide 63: Significant Operating Profit Growth Achieved at Half Year
SIGNIFICANT OPERATING PROFIT GROWTH ACHIEVED AT HALF YEAR REVENUE OPERATING PROFIT OPERATING PROFIT £18.6M £2.96M 15.9% -11% +119% +9.5bp Capital Markets Day | November 2024 | 63
Slide 64: Our Routes to Market Give Us Significant Distribution Reach
OUR ROUTES TO MARKET GIVE US SIGNIFICANT DISTRIBUTION REACH DIRECT DISTRIBUTORS CENTRAL DISTRIBUTION 55% 30% 15% of of of revenue revenue revenue • Direct delivery • 3rd party delivery • Cinema • Regional operations • Low cost to serve • Scale customers • Localised P&L • Selected geographies • High
Slide 65: We Have a Market Leading Portfolio Offering
WE HAVE A MARKET LEADING PORTFOLIO OFFERING LEADING BRANDS PREMIUM RANGE ICEE • Coke/Pepsi/Irn Bru • High quality own label • #1 carbonated frozen beverage • Exclusive rights • Full range across the category • Film partnerships Capital Markets Day | November 2024 | 65
Slide 66: Key Levers to Drive Profitable Growth
3 KEY LEVERS TO DRIVE PROFITABLE GROWTH DISTRIBUTION GROWTH RANGE EXPANSION OVERHEAD EFFICIENCIES • Direct delivery • Target 8 products per outlet • Capital investment policy • Room to grow without • Deposit Return Scheme 2027 • Technology increasing fixed costs • Procurement opportunities • Profita
Slide 67: Key Out of Home Takeaways
KEY OUT OF HOME TAKEAWAYS 01 02 03 SIMPLIFIED OOH MODEL ROOM TO GROW PROFITABILITY • OoH strategic review • Distribution • Disciplined capital delivering investment policy • Range per outlet • Strong operating profit growth Capital Markets Day | November 2024 | 67
Slide 68: Transformation Programme
TRANSFORMATION PROGRAMME
Slide 69: Key Transformation Programme Takeaways
KEY TRANSFORMATION PROGRAMME TAKEAWAYS 01 02 03 OPERATIONAL EXCELLENCE ERP REPLACEMENT SUSTAINABILITY Developing Powerful Project Renaissance Our 'Happier Future' Partnerships will enable us will increase efficiency programme ensures we do to leverage our asset light and effectiveness business in th
Slide 70: Our Asset Light Strategy Is Fundamental to Operational Excellence
OUR ASSET LIGHT STRATEGY IS FUNDAMENTAL TO THE DELIVERY OF OPERATIONAL EXCELLENCE THE WHAT THE HOW • Lowest total cost • World class fundamentals • Outstanding quality • Powerful partnerships • Brilliant customer service • Controlling the IP • Sustainable supply chain Capital Markets Day | November
Slide 71: Building Powerful Partnerships to Leverage Asset Light Model
BUILDING POWERFUL PARTNERSHIPS ALLOWS US TO FULLY LEVERAGE OUR GLOBAL ASSET LIGHT MODEL IN PACKAGED By outsourcing manufacturing Financial benefits and logistics in our key markets, we can access a Faster speed to market wide range of business benefits: Direct access to industry expertise Reduced ri
Slide 72: Investment in Project Renaissance Reduces Business Risk
INVESTMENT IN PROJECT RENAISSANCE REDUCES BUSINESS RISK AND UNLOCKS SIGNIFICANT OPERATIONAL EFFICIENCIES TODAY PROJECT RENAISSANCE BUSINESS RENAISSANCE ENABLES BENEFITS • Previous ERP end of life • Upgrade to SAP 4 Hana • Better information for • Greater supply chain decision making and procurement
Slide 73: Renaissance Will Enable Business Benefits Across Operations
RENAISSANCE WILL ENABLE DELIVERY OF BUSINESS BENEFITS ACROSS OPERATIONS AND COMMERCIAL FUNCTIONS PROCUREMENT SUPPLY CHAIN COMMERCIAL • Commodity hedging and forecasting • Inventory optimisation • Increased on shelf availability • Cost price negotiation • Inbound & outbound load fill • Trade promo sp
Slide 74: Happier Future Is a Purpose Led Sustainability Programme
HAPPIER FUTURE IS A PURPOSE LED SUSTAINABILITY PROGRAMME THAT IS AT THE HEART OF HOW WE DO BUSINESS EVERYONE PRODUCTS WE’RE OWNING OUR MATTERS PROUD OF CLIMATE IMPACT • Wellbeing and Diversity & • Healthier hydration • Reducing direct emissions Inclusion • Sustainable packaging • Decarbonising suppl
Slide 75: Happier Future Is a Purpose Led Sustainability Programme
HAPPIER FUTURE IS A PURPOSE LED SUSTAINABILITY PROGRAMME THAT IS AT THE HEART OF HOW WE DO BUSINESS EVERYONE PRODUCTS WE’RE OWNING OUR MATTERS PROUD OF CLIMATE IMPACT • Wellbeing and Diversity & • Healthier hydration • Reducing direct emissions Inclusion • Sustainable packaging • Decarbonising suppl
Slide 76: Happier Future Programme Is Externally Accredited
OUR HAPPIER FUTURE PROGRAMME IS EXTERNALLY ACCREDITED AND HAS A PROVEN TRACK RECORD OF DELIVERY EXTERNALLY ACCREDITED PROVEN TRACK RECORD CLEAR COMMITMENTS INTEGRUM A RATING OF DELIVERY TO 2030 • Community programmes launched • Tangible difference to 200 young in UK and Africa people in UK & Africa
Slide 77: Key Transformation Programme Takeaways
KEY TRANSFORMATION PROGRAMME TAKEAWAYS 01 02 03 OPERATIONAL EXCELLENCE ERP REPLACEMENT SUSTAINABILITY Developing Powerful Project Renaissance Our 'Happier Future' Partnerships will enable us will increase efficiency programme ensures we do to leverage our asset light and effectiveness business in th
Slide 78: Summary
SUMMARY
Slide 79: Priorities for Driving Profitable Growth in the Medium-Term
PRIORITIES FOR DRIVING PROFITABLE GROWTH IN THE MEDIUM-TERM 01 02 03 04 Clear focus on high Organic headroom Innovation and margin packaged Targeted geographic exists in all of our acquisition will business expansion opportunities key markets allow us to expand into new categories 05 06 07 08 Delive
Slide 80: Our Medium-Term Financial Ambition
OUR MEDIUM-TERM FINANCIAL AMBITION FY23 Actual FY24 Consensus Medium-Term Ambition Change (Organic) Revenue £170.7m £172.6m £225m +30% Profit margin Adjusted profit before tax 15.9% 17.5% 20% +250bps Profit before Tax Adjusted £27.2m £30.2m £45m +50% Capital Markets Day | November 2024 | 80
Slide 81: Q&A and Refreshments
Q&A AND REFRESHMENTS