Glg Corp Ltd · ASX:GLE
Glg — Shareholder Meeting (November 2008)
23 slides from Glg's shareholder meeting presentation, Nov 3, 2008
Slide 1: Annual General Meeting
GLG CORP LTD For personal use only Annual General Meeting 3rd November 2008 WELCOME 1
Slide 2: Meeting Format
GLG CORP LTD – 2008 Annual General Meeting For personal use only Meeting Format GLG Corp Ltd Results Half-Year Deputy Ended 31 Chairman December 2005 Review Accounts and Reports Formal Resolutions Other Business CloseGK Soh - Chief Executive Officer Eu Mun Leong - Chief Financial Officer 6-7 March 2
Slide 3: Introductions
GLG CORP LTD – 2008 Annual General Meeting For personal use only Introductions GLG Corp Ltd GLGResults Corp Half-Year Ended 31 December 2005 • Samuel Weiss – Non Executive Deputy Chairman • Eu Mun Leong – Director and Chief Financial Officer • Christopher Chong – Independent Non Executive Director D
Slide 4: Deputy Chairman's Review
For personal use only GLG Corp Ltd Results Half-Year Ended 31 December 2005 DEPUTY CHAIRMAN’S REVIEW GK Soh - Chief Executive Officer Eu Mun Leong - Chief Financial Officer 6-7 March 2006 4 A Global Textile & Apparel Supply Chain Manager
Slide 5: GLG Corp Ltd – Business Model
GLG CORP LTD – BUSINESS MODEL For personal use only GLG Corp Ltd Revenue 100% Results GrossHalf-Year Profit Ended 31 December 2005 9.5% Administrative and other costs 5.5% to 6.0% NPAT US$6.3 million • Supply chain manager • Knitwear Specialist - Chief Executive Officer GK Soh • Long term customer r
Slide 6: Financial Year Summary
Financial Year Summary For personal use only Sales decreased 5.2% to US$209.1 million. GLG Corp Ltd NPAT Resultsof US$6.3 million (down 21.6% from 2007) Half-Year EPS of USEnded 31 December 8.5 cents. 2005 PER 3.0x*. NTA per share US 33.9 cents. Up 6.8% US retail market negatively impacted by credit
Slide 7: Financial Update
GLG Corp Ltd For personal use only GLG Corp Ltd Financial Update Results 30 Half-Year June 2008 Ended 31 December 2005 GK Soh - Chief Executive Officer Eu Mun Leong - Chief Financial Officer 6-7 March 2006 7 A Global Textile & Apparel Supply Chain Manager
Slide 8: Consolidated P&L Analysis: Full-year ended June 2008
Consolidated P&L Analysis: Full--year ended 30 June 2008 Full For personal use only 30 June 30 June % 2008 2007 Change US$ million US$ million Revenue 209.1 220.6 (5.2)% Cost of Sales (188.1) (199.0) 5.5% Gross profit 21.0 21.6 (2.8)% Other Income 1.2 2.0 (40.0)% Distribution expenses (1.7) (1.3) (3
Slide 9: Balance Sheet Analysis: Summary
Balance Sheet Analysis: Summary Consolidated P&L Analysis: 30 Jun 2008 30 Jun 2007 Variance Half-year ended US$ million31 December US$ million 2005 For personal use only CURRENT ASSETS Cash 3.8 2.5 52.0% Trade Receivable Proforma In A$ million at a AUD/USD Varience % exchange rate of 0.73 Varienc 20
Slide 10: Cash Flow Statement
Cash Flow Statement Consolidated P&L Analysis: Half-year ended 31 December Results: Full-year ended 30 June 2008 2008 2005 2007 For personal use only US$m US$m Receipts from customers 207.2 223.4 Payments to suppliers and employees (198.6) (210.1) Interest paid Proforma In A$ million at a AUD/USD Va
Slide 11: Marketplace Update
GLG Corp Ltd For personal use only GLG Corp Ltd Update Marketplace Results st 31 Half-Year October Ended 2008 31 December 2005 GK Soh - Chief Executive Officer Eu Mun Leong - Chief Financial Officer 6-7 March 2006 11 A Global Textile & Apparel Supply Chain Manager
Slide 12: Marketplace Update: Retail Marketplace
GLG Corp Ltd: Marketplace Update For personal use only Retail Marketplace GLG Corpconsumer Declining Ltd confidence causing lower sales and Results spending to the “lower end” of the market; pushing Half-Year Ended 31 December 2005 Weaker retailers facing greater supplier scrutiny. Reduction in supp
Slide 13: GLG Response to Marketplace
GLG Corp Ltd: GLG Response to Marketplace For personal use only GLG New Corp Sales Ltd Channels Results Joint Venture Half-Year in United Ended States2005 31 December Value Based: Family Dollar & Dollar General. Europe: Benetton; Additional Sales Management capacity Management GK Soh Disciplines - C
Slide 14: Sales Bookings and Shipments Update (US$ Million)
Sales Bookings and Shipments Update (US$ Million) For personal use only FY08 FY09 Remarks Actual Sales Sales Bookings Jul – Sep Q1 59.5 52.0 Bookings 100% complete 65% of Bookings shipped Oct – Dec Q2 53.0 48.1 Excludes US$5M of shipments to Mervyns which are now withheld by factories Jan – Mar Q3 4
Slide 15: Outlook and Prospects
GLG Corp Ltd For personal use only GLG Corpand Outlook Ltd Prospects Results Half-Year Ended 31 December 2005 GK Soh - Chief Executive Officer Eu Mun Leong - Chief Financial Officer 6-7 March 2006 15 A Global Textile & Apparel Supply Chain Manager
Slide 16: 2009 Outlook
GLG Corp Ltd 2009 Outlook For personal use only GLG Corp Ltd Results Half-Yeartrading Ended conditions 31 December Difficult in 2005 the United States; Retail uncertainty: Mervyns and Linen and Things into liquidation, others under earnings pressure; No forecast growth in revenue; Cost control shoul
Slide 17: Thank You
For personal use only Thank You 17 A Global Textile & Apparel Supply Chain Manager
Slide 18: 2008 Accounts and Reports
GLG CORP LTD – 2008 Annual GeneralMeeting General Meeting For personal use only 2008 ACCOUNTS AND REPORTS 18
Slide 19: Formal Resolutions
GLG CORP LTD – 2008 Annual GeneralMeeting General Meeting For personal use only FORMAL RESOLUTIONS 19
Slide 20: Resolutions
GLG CORP LTD – 2008 Annual GeneralMeeting General Meeting For personal use only Resolutions Resolution 1 – Adoption of Remuneration Report Resolution 2 – Re-Election of Director Eu Mun Leong Resolution 3 – Re-Election of Director Yin Min Yong 20
Slide 21: Other Business and Question Time
GLG CORP LTD – 2008 Annual GeneralMeeting General Meeting For personal use only OTHER BUSINESS AND QUESTION TIME 21
Slide 22: Thank You
For personal use only Thank You 22 A Global Textile & Apparel Supply Chain Manager
Slide 23: Cautionary note on forward-looking statements
Cautionary note on forward-looking statements For personal use only This presentation may contain statements regarding the business of GLG Corp Limited and its subsidiaries (‘Group’) that are of a forward looking nature and are therefore based on management’s assumptions about future developments. S