Slide 1: NWF Group plc Interim results to 30 November 2009
NWF Group plc Interim results to 30 November 2009
Slide 2: Contents
NWF Group plc contents Interim results to 30 November 2009 Contents page Who we are 3 Group overview 4 Business highlights 5 Financial review 8 Development outlook 12 Summary 15 Appendices 16 Business backgrounds Locations Group organisation Wardle site Five year financial performance Divisional fin
Slide 3: Who we are
NWF Group plc Who we are Interim results to 30 November 2009 Who we are NWF Group plc is a focused specialist distributor of food, feed and fuel 3 Financial data from 2009 full year
Slide 4: Group overview
NWF Group plc Group overview Interim results to 30 November 2009 Group overview Specialist distributor of food, feed and fuel First half performance for NWF in line with expectations Revenue decreased by 11.4% to £175.5 million (2008 H1: £198.1 million) Operating profit down 21.6% to £2.9 million (2
Slide 5: Business highlights – food distribution
NWF Group plc Business highlights Interim results to 30 November 2009 – food distribution Business highlights – food distribution 2009 2008 £m £m % Revenue 20.6 20.5 +0.5 Operating profit 1.7 1.0 +70.0 Average pallet spaces stored 100,000 107,000 -6.5 Record operating profit for food distribution St
Slide 6: Business highlights – feeds
NWF Group plc Business highlights Interim results to 30 November 2009 – feeds Business highlights – feeds 2009 2008 £m £m % Revenue 41.2 49.4 -16.6 Operating profit 0.5 1.4 -64.2 Tonnes 196,000 213,000 -8.0 Tough market conditions as the UK dairy herds continued to graze into October Margins squeeze
Slide 7: Business highlights – fuels
NWF Group plc Business highlights Interim results to 30 November 2009 – fuels Business highlights – fuels 2009 2008 £m £m % Revenue 113.7 128.2 -11.3 Operating profit 0.7 1.3 -46.2 Million litres 166 166 - Adverse market conditions Warm Autumn reduced demand for higher margin Heating oil, winter sta
Slide 8: Financial review – income statement summary
NWF Group plc Financial review Interim results year to 30 November 2009 – income statement Financial review – income statement summary Nov 2009 Nov 2008 Growth May 2009 £m £m % £m Revenue Food Distribution 20.6 20.5 0.5% 39.2 Feeds 41.2 49.4 -16.6% 104.7 Fuels 113.7 128.2 -11.3% 236.7 Total revenue
Slide 9: Financial review – balance sheet summary
NWF Group plc Financial review Interim results year to 30 November 2009 – balance sheet summary Financial review – balance sheet summary Nov 2009 Nov 2008 May 2009 £m £m £m Fixed assets 42.3 43.0 42.1 Net Working Capital 10.4 18.1 12.3 Assets Employed 52.7 61.1 54.4 Pension deficit (13.4) (4.1) (6.7
Slide 10: Financial review – net debt summary
NWF Group plc Financial review Interim results year to 30 November 2009 – net debt summary Financial review – net debt summary Debt Summary Movement in net debt Total committed facilities of £40.8m with RBS until May 2011. In addition £7m of HP finance is available. 30.0 6.7 £m Facility Drawn Overdr
Slide 11: Financial review – cash flow
NWF Group plc Financial review Interim results year to 30 November 2009 – cash flow Financial review – cash flow Nov 2009 Nov 2008 £m £m Operating profit 2.9 3.6 Depreciation and amortisation 1.7 1.7 Working capital 2.4 (0.1) Other (0.2) (0.2) Operating cash flow 6.8 5.0 Interest (0.6) (1.8) Tax (0.
Slide 12: Development outlook – food distribution
NWF Group plc Development outlook Interim results to 30 November 2009 – food distribution Development outlook – food distribution Ambient grocery supply chain Robust demand for ambient groceries Ambient grocery Boughey has a leading position in North West manufacturers Close relationship with major
Slide 13: Development outlook – feeds
NWF Group plc Development outlook Interim results to 30 November 2009 – feeds Development outlook – feeds Dairy feed market (Great Britain) Strong national sales team, the dairy experts 2004-2013f Strategy to build direct business with farmers, continue Forecast development in the South 3.0 2.6 2.6
Slide 14: Development outlook – fuels
NWF Group plc Development outlook Interim results to 30 November 2009 – fuels Development outlook – fuels Indicative competitive landscape for major UK fuel distributors Proven performance in volatile markets 2009 Proven track record – successful depot based operating model Crown Oil National Develo
Slide 15: Summary
NWF Group plc Summary Interim results to 30 November 2009 Summary Focused as a specialist distributor of food, feed and fuel Strong food distribution performance offset weaker seasonal markets in feeds Debt reduced to £17.5 million and debt to EBITDA 1.5 times Markets large, robust and resilient Exp
Slide 16: Appendices
NWF Group plc Appendices Interim results to 30 November 2009 Appendices Business backgrounds Locations Group organisation Wardle site Five year financial performance Divisional financial track record Additional market data 16
Slide 17: Business background – food distribution
NWF Group plc Business background Interim results to 30 November 2009 – food distribution Business background – food distribution Market Consolidation of ambient grocery products to UK supermarkets Our business 115,000 pallet spaces 900,000 ft2 of warehousing in Wardle and Deeside (North West) 579 p
Slide 18: Business background – feeds
NWF Group plc Business background Interim results to 30 November 2009 – feeds Business background – feeds Markets Supply of feed to ruminants in the UK – principally dairy Market split into compound & blends Our business National player – 14% market share 460,000 tonnes produced in 2008/9 168 people
Slide 19: Business background – fuels
NWF Group plc Business background Interim results to 30 November 2009 – fuels Business background – fuels Markets 1.5 m homes use oil fired heating Commercial customers Service stations Fuel cards Our business 151 people 56 tankers 13 depots across the UK Supply 80 retail petrol stat
Slide 20: Locations
NWF Group plc Locations Interim results to 30 November 2009 Locations Locations: Food Distribution Deeside Wardle Locations: Feeds Ayr Penrith Wardle Wixland Locations: Fuels Acle Ammanford Bangor Boston Burnley Burwell Dyserth Kingsbury Leaton Nottingham Stoke Wardle Yate 20 * Main site and head of
Slide 21: Group organisation
NWF Group plc Group organisation Interim results to 30 November 2009 Group organisation Chief Executive Non-Executive Directors Richard Whiting Mark Hudson (Chairman) John Acornley David Southworth Finance Director Company Secretary Johnathan Ford Rob Andrew Distribution Feeds Fuels Managing Directo
Slide 22: Wardle site
NWF Group plc Wardle site Interim results to 30 November 2009 Wardle site 22
Slide 23: Five year financial performance
NWF Group plc Five year Interim results to 30 November 2009 - financial performance Five year financial performance Revenue Operating Profit 400 10.0 9.0 350 8.0 300 7.0 250 6.0 £m £m 200 5.0 150 4.0 3.0 100 2.0 50 1.0 0 0.0 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 PBT DPS 7 5 6 4 5 3 4 £m
Slide 24: Divisional Financial Track records
NWF Group plc Interim results to 30 November 2009 Divisional Financial Track records Feeds Food Distribution 120 45 2.5 3.0 40 100 2.0 2.5 35 30 80 Revenue £m 2.0 Revenue £m 1.5 EBIT £m - red line EBIT £m - red line 25 60 20 1.5 1.0 15 40 1.0 10 0.5 20 0.5 5 0 0.0 0 0.0 2000 2001 2002 2003 2004 2005
Slide 25: Feeds – additional market data
NWF Group plc Price per tonne £ 100 110 120 130 140 150 50 60 70 80 90 01/06/2009 08/06/2009 15/06/2009 Interim results to 30 November 2009 Pence per litre 22/06/2009 10 12 14 16 18 20 22 24 26 28 29/06/2009 06/07/2009 13/07/2009 20/07/2009 27/07/2009 03/08/2009 Feeds – additional market data 10/08/
Slide 26: Fuels – additional market data
$ NWF Group plc 0 100 120 140 160 20 40 60 80 02/01/2007 30/01/2007 27/02/2007 27/03/2007 Interim results to 30 November 2009 24/04/2007 22/05/2007 19/06/2007 17/07/2007 14/08/2007 11/09/2007 Fuels – additional market data 09/10/2007 06/11/2007 04/12/2007 01/01/2008 29/01/2008 26/02/2008 25/03/2008