Reliance Worldwide Corp. Ltd. · ASX:RWC
Reliance Worldwide — Q1 FY2023 Earnings Presentation
8 slides from Reliance Worldwide's earnings presentation, Oct 25, 2022
Slide 1: FY23 First Quarter Trading Update
FY23 First Quarter Trading Update 25 October 2022 RELIANCE WORLDWIDE CORPORATION LIMITED ABN 46 610 855 877
Slide 2: Important Notice
Important Notice This presentation contains general information about Reliance Worldwide Corporation Limited’s activities at the date of presentation (25 October 2022). It is information given in summary form and does not purport to be complete. The presentation is not an offer or invitation for sub
Slide 3: Summary of Q1 FY23 Performance
Summary of Q1 FY23 Performance Commentary US$ million Q1 FY22 Q1 FY23 % Change ▪ Constant currency sales growth 28% Net Sales 246.0 303.1 23% ▪ Excluding EZ-Flo, constant currency sales growth of 6% Reported EBITDA 66.3 76.8 16% ▪ Stronger US$ impacted reported results from APAC and EBITDA Margin (%
Slide 4: FY23 Q1 Adjusted EBITDA
FY23 Q1 Adjusted EBITDA Price increases offset inflation but diluted margins, FX translation headwinds US$m Commentary ▪ FY23 Q1 Adjusted EBITDA margin reflects lower volumes and higher cost inventory as a result of high input costs • Sales of lower cost inventory should positively impact future qua
Slide 5: Segment results: Americas
Segment results: Americas Lower volumes in 1st quarter following 2 years of strong growth Commentary Americas (US$ million) Q1 FY22 Q1 FY23 % Change ▪ Sales growth driven primarily by EZ-Flo and price increases Net sales 148.9 212.2 43% - RWC 148.9 158.4 6% ▪ Volumes lower than pcp across most chann
Slide 6: Segment results: Asia Pacific
Segment results: Asia Pacific Continued volume growth in Australia Asia Pacific (A$ million) Q1 FY22 Q1 FY23 % Change Commentary ▪ External sales growth of 7% driven by continued Net sales 80.6 81.5 1% volume growth in Australia Adjusted EBITDA 18.3 15.5 -15% ▪ Domestic demand in Australia solid in
Slide 7: Segment results: EMEA
Segment results: EMEA UK sales up 9% on pcp, Continental Europe in line with pcp Commentary EMEA (£ million) Q1 FY22 Q1 FY23 % Change ▪ EMEA external sales up 7% on pcp Net sales 54.3 55.0 1% ▪ UK external sales up 9% on pcp, strong Adjusted EBITDA1 17.6 16.1 -9% performance in plumbing and heating
Slide 8: Outlook for FY 2023
Outlook for FY 2023 1 Despite an uncertain economic outlook, R&R activity levels expected to underpin demand Positive Outlook Factors: ▪ Backlog of Repair and Remodel (R&R) work expected to underpin volumes in the short term ▪ Consumer / household balance sheets are generally strong post-COVID and u