Tasfoods Limited · ASX:TFL
Tasfoods — Shareholder Meeting (May 2022)
26 slides from Tasfoods's shareholder meeting presentation, May 30, 2022
Slide 1: TasFoods Ltd Annual General Meeting
For personal use only TasFoods Ltd (TFL.ASX) Annual General Meeting 30 May 2022 Craig Treasure – Chairman Scott Hadley – Chief Executive Officer
Slide 2: Items of Business
Items of Business For personal use only Item 1: Consideration of Financial Statements Resolutions: 6: Amendments to the Company’s Constitution (special resolution) 1: Adoption of Remuneration Report 7: Renewal of Proportional Takeover Provisions 2: Election of Director – Mr John O’Hara 8: Ratificati
Slide 3: Chairman's Address
For personal use only Chairman’s Address
Slide 4: Reimagining authentic provenance
Reimagining authentic provenance For personal use only Our Vision To create the most reputable, sustainable, and authentic premium products collective Our Mission Create a world leading growth platform for premium provenance brands to deliver superior consumer and customer experience and market lead
Slide 5: Executive Team
Executive Team For personal use only Newly appointed, highly credentialled team Scott Hadley – Chief Executive Officer – joined 1 October 2021 • Outstanding track record of growing valuable businesses, developing his people, building high performing teams and cultivating supplier partnerships. • Pas
Slide 6: FY21 results
FY21 results For personal use only Sales momentum maintained in challenging market conditions FY21 Profit & Loss • 4% Revenue growth to $69.4 million. • Operating EBITDA of -$4.45 million. • Dairy and poultry goodwill fully impaired. Balance Sheet at 31 December 2021 • Year end cash of $1.5 million,
Slide 7: Equity Raising
Equity Raising For personal use only Strongly supported by existing and new long-term investors • Equity raising in April 2022 to support the implementation of the Company’s new strategic direction including general working capital support, connectivity improvements and commercial acceleration initi
Slide 8: Board Renewal
Board Renewal For personal use only Board succession planning continues 2021 • John Murphy & John O’Hara joined the Board. Roger McBain resigned. 2022 • Election of John Murphy & John O’Hara supported by the Board. • Craig Treasure steps down as Chairman & Director at conclusion of meeting. • John M
Slide 9: Remuneration
Remuneration For personal use only Fit for purpose, aligned with strategy and stage of Company life cycle • Remuneration structure considered annually to ensure it is fit for purpose. • FY21 STI weighted towards financial performance and an EBITDA performance hurdle - Nil STI paid in FY21. • TasFood
Slide 10: Investor Relations
Investor Relations For personal use only Committed to being an accessible and transparent company • Investor relations activities will continue throughout the year: • reporting against our strategy and key initiatives; and • Continuing to highlight the opportunity intrinsic in the TasFoods business.
Slide 11: Thank you
Thank you For personal use only For your continued support • Employees • Executive • Board members • Shareholders 11
Slide 12: CEO Address
For personal use only CEO Address
Slide 13: Welcome
Welcome For personal use only Who am I? • Born in Tasmania. Grew up in Westbury and did all my schooling here in Tasmania. • Graduated Uni of Tas and then travelled the world. • Worked for some major multi nationals like Cadbury, Fosters, GSK, Asahi plus an iconic local business, Spirit of Tasmania.
Slide 14: New Leadership Team to deliver the change
New Leadership Team to deliver the change For personal use only SCOTT HADLEY SHONA CROUCHER MIKE DAVIES AARON HALL Chief Executive Officer Chief Financial Officer GM - Marketing GM – Supply Chain Since October 2021 Since October 2021 Since April 2022 Since May 2022 GREGG FLOWER PHIL STEPHENSON TRIST
Slide 15: Overview
Overview For personal use only Brands Product Hierarchy Sales Channels Brands that reflect artisan provenance & heritage, targeted at PREMIUM food lovers seeking provenance Retail behind the product POULTRY EVERYDAY Brands that provide a piece of indulgence for everyday life, Distributors LUXURY tar
Slide 16: FY21 Financial Review
FY21 Financial Review For personal use only Segment profit & loss Balance Sheet & Cash Flow FY21 FY20 • The Group is supported by a balance sheet at Corporate Corporate 31/12/2021 with a net asset position of $000's Dairy Poultry Total Dairy Poultry Total & Other & Other $28.6m (including property,
Slide 17: FY22 April YTD Trading Result
FY22 April YTD Trading Result For personal use only Pleasing revenue performance whilst facing input cost challenges • YTD sales as at the end of April was in line with the pcp but below management expectations. • Poultry division sales increased on pcp as revenue enhancing initiatives start to show
Slide 18: The platform for change
The platform for change For personal use only Strong brand & product assets that require a solid corporate foundation to realise their potential • During 2H21 the Company went through a significant period of leadership change at both at the Board and Executive level. • Following this change the Comp
Slide 19: TasFoods New Strategic Focus
TasFoods New Strategic Focus For personal use only From 2022 onwards TasFoods will focus on four key pillars to ensure the Company can leverage its competitive advantage and realise its potential as a leading branded premium produce group Fortress Tasmania Mainland Markets Adjacent Expansion Capital
Slide 20: Top Initiatives
Top 10 Initiatives For personal use only Progress update on the Top 10 priority areas. Determine TasFoods distribution and 1 Fix the foundations 6 warehouse model Build commercial accountability and 2 Reset strategic direction 7 capability Implement capital management 3 8 Implement value chain analy
Slide 21: Marketing initiatives
Marketing initiatives For personal use only The business now has a dedicated marketing resource to build our brands for the future 4 x Gold Shima PR Shima Web redesign Relaunch Shima Socials 9 x Silver Epicurean Powerhouse Nichols consumer campaign - MVD Betta Milk consumer campaign - • New differen
Slide 22: Capital raise funds – immediate priorities
Capital raise funds – immediate priorities For personal use only Working Capital • Significant proportion of funds will be used to eliminate overdraft and provide financial stability. Connectivity • The base ERP (SAP Business 1) will be fully implemented by Q4 2022. • Additional functionality such a
Slide 23: The Opportunity
The Opportunity For personal use only We have a premium portfolio of authentic brands Lifting of commercial capabilities will improve – we just need to give them some love and profitability attention Under represented in growing e-commerce Unrivalled distribution network in Tasmania channel which pr
Slide 24: Formal Business of Meeting
For personal use only Formal Business of Meeting
Slide 25: Shareholder Questions
For personal use only Shareholder Questions
Slide 26: Thank you
For personal use only Thank you