Allied Farmers Limited · NZX:ALF
Allied Farmers — Shareholder Meeting (November 2019)
26 slides from Allied Farmers's shareholder meeting presentation, Nov 26, 2019
Slide 1: Allied Farmers Limited Annual Shareholder Meeting
Allied Farmers Limited Serving the rural community for 130 years. Annual Shareholder Meeting Tuesday, 26 November 2019 1
Slide 2: Welcome & Introduction
( Welcome & Introduction >»
Slide 3: Summary Profit and Loss
Allied Farmers Limited SUMMARY PROFIT AND LOSS 2019 2018 $m $m Income 21.4 18.6 Expenses 19.2 16.2 Taxation 0.2 0.2 Net Profit After Tax 2.0 2.2 Parent Owners Share 1.3 1.5 3
Slide 4: Divisional Summary
Allied Farmers Limited DIVISIONAL SUMMARY 2019 2018 $m $m LIVESTOCK Revenue 21.4 18.2 Pre-Tax Profit 2.8 2.6 INVESTMENTS Revenue 0.0 0.4 Impairments - - Profit (Loss) 0.0 0.4 CORPORATE Income 0.0 0.0 Costs 0.5 0.5 Interest 0.1 0.1 Profit (Loss) (0.6) (0.6) 4
Slide 5: Group Balance Sheet
Allied Farmers Limited GROUP BALANCE SHEET 2019 2018 $m $m ASSETS Receivables 16 14 Cash 2 1 Fixed Assets 4 4 Other Assets 2 1 24 20 LIABILITIES & EQUITY Borrowings 5 6 Other incl. Creditors 13 11 Equity 6* 3* 24 20 * Does not include assessed value of investment in subsidiaries or increase in value
Slide 6: Growing the business, with an improving balance sheet
Growing the business, with an improving balance sheet 6
Slide 7: Significant Milestones
Significant Milestones • Continued development of livestock, finance and digital offerings • Appointment of two new Directors – Richard Perry and Ross Verry • Successful capital raising and share register restructuring • Policy, system and process enhancement • Review of acquisition options • Final
Slide 8: Dividend
Dividend 2.0 cents per share 17.9 M shares $357,095 Fully Imputed $495,970 Gross Dividend 2.78 cents per share Record Date 16 December 2019 Payment Date 17 January 2020 8
Slide 9: Allied Farmers - Rural CEO - Steve Morrison
Allied Farmers - Rural CEO - Steve Morrison 9
Slide 10: Livestock Agency, MyLivestock platform and Redshaw Livestock
• NZ Farmers Livestock Agency • MyLivestock platform and App • Redshaw Livestock • Farmers Meat Export Ltd - expanded • Livestock Finance – Bullplan and general • Associated Auctioneers JV interests (SML) Working with Farmers for Farmers 10
Slide 11: Experienced and growing team
• Experienced and growing team • Adding value for clients - every day • Sales/purchase channel & Deal closure • Win-Win business • Moving with (or ahead of) the times Working with Farmers for Farmers 11
Slide 12: Today
Today: • Ongoing Growth – recruitment, acquisition, Northland, South Island, yards • NZFLL Group EBT • Farming challenges • Solid livestock agency performance • FMEL growth – tally and price, trial • Redshaws in line with acquisition basis • M bovis challenge • Financial management • Very good bank
Slide 13: Current Performance
Current Performance Current Performance Livestock mixed - some regions ahead of last year - some behind – continuing M bovis impact - just ahead overall Meat Processing ahead of last year - second year in Manawatu - tally & profit growth - working to further improve Finance - New constraints, review
Slide 14: Looking Forward
Looking Forward: • Building & supporting teams • Developing new agents • Building networks • Robust contracting arrangements • Developing FMEL business • Building value • Enhancing control and process Working with Farmers for Farmers 14
Slide 15: Health and Safety of our staff a key priority
• Health and Safety of our staff a key priority • Significant efforts to ensure compliance/risk management 15
Slide 16: Future Focus
Future Focus - Informed Growth - Market share - MyLivestock/App/CRM - Bottom line performance - A platform and support for wider Allied Farmers progress Working with Farmers for Farmers 16
Slide 17: Thank you
Thank you Working with Farmers for Farmers 17
Slide 18: Questions
Questions 18
Slide 19: Business Resolutions
Business Resolutions 19
Slide 20: Resolution 1. Re-election of Mark Benseman
Resolution 1. Re-election of Mark Benseman That Mark Benseman be re-elected as a Director of the Company. 20
Slide 21: Resolution 2. Re-election of Philip Luscombe
Resolution 2. Re-election of Philip Luscombe That Philip Luscombe be re-elected as a Director of the Company. 21
Slide 22: Resolution 3. Election of Richard Perry
Resolution 3. Election of Richard Perry That Richard Perry be elected as a Director of the Company. 22
Slide 23: Resolution 4. Election of Ross Verry
Resolution 4. Election of Ross Verry That Ross Verry be elected as a Director of the Company. 23
Slide 24: Resolution 5. Remuneration of Auditors
Resolution 5. Remuneration of Auditors That the Directors be authorised to fix the auditor’s fees and expenses for the ensuing year. 24
Slide 25: Resolution 6. New Constitution
Resolution 6. New Constitution That the existing Constitution of the Company be revoked and the Company adopt a new Constitution in the form tabled at the meeting and signed by the Chairperson for the purpose of identification, with effect from the close of the Annual Meeting of the Company. 25
Slide 26: General Business
General Business 26