Vita Life Sciences Limited · ASX:VLS
Vita Life Sciences — Shareholder Meeting (May 2009)
22 slides from Vita Life Sciences's shareholder meeting presentation, May 21, 2009
Slide 1: Summary of Managing Director's Address
Vita Life Sciences Limited (“Vita Life”) [ASX Code: VSC] Annual General Meeting 21 May 2009 Summary of Managing Director’s Address The following were the milestones for the financial year ended 31 December 2008: • Health division’s Established business units in Australia, Malaysia and Singapore (“Es
Slide 2: Financial position and development of divisions
(b) Financial position: Net assets and Shareholders’ funds improved from 2007 as a result of: • Sales growth and Improved profitability; • Repositioning distribution arrangements; • Higher inventory and receivables level as a result of sales growth and new business initiatives. Development of Health
Slide 3: Outlook, Indonesia expansion and TGA claim
• Health division’s New Initiatives is continuing to develop and will provide the Group with growth in medium to long term. However, New Initiatives is expected to negatively impact results in short term. • Potential expansion of Indonesian market consistent with Group’s growth strategy; currently t
Slide 4: Vita Life Sciences Limited Annual General Meeting
Vita Life Sciences Limited (ASX Code: VSC) Annual General Meeting 21 May 2009
Slide 5: Agenda
Agenda 1. Chairman’s Address 2. Managing Directors’ Review 3. Ordinary and Special Business: Resolutions 1 - 4 4. Question Time 5. Close
Slide 6: Chairman's Welcome Address
Chairman’s Welcome Address
Slide 7: Agenda
Agenda 1. Chairman’s Address 2. Managing Directors’ Review 3. Ordinary and Special Business: Resolutions 1 - 4 4. Question Time 5. Close
Slide 8: 2008 Highlights
2008 Highlights • Higher sales (+21.3% reported) • Improvement in EBIT • Strengthened our brands in Australia, Malaysia and Singapore • Anchored presence in Thailand • Commenced trading in China • Appointed Malaysian agent for Lydia Jordane and Lycon Wax brands
Slide 9: Financial Summary – Income Statement
Financial Summary – Income Statement Income Statement 2008 2007 for year ended (A$ million) (A$ million) % Change Sales 14.36 11.84 21.3% Other income 1.17 0.62 89.6% Operating expenses (14.87) (12.29) 21.1% EBITDA 0.65 0.17 >100% Depreciation & amortisation (0.16) (0.13) 20.7% EBIT 0.49 0.03 >100%
Slide 10: Sales Revenue
Sales Revenue 16 14.36 • Sales of $14.36 14 11.84 million in 2008 12 11.13 10 A$ million • Sales grew by 21.3% 8 in 2008 (2007: 6.3%) 6 4 • Established business 2 grew by 20.6% 0 2006 2007 2008 Year
Slide 11: Sales Revenue - Segment
Sales Revenue - Segment 2008 2007 Singapore Singapore 22% 23% Others Australia Australia Others 1% 43% 46% 1% Malaysia Malaysia 31% 33% • Sales growth y-o-y for Australia, Malaysia and Singapore were 31.0%, 10.4% and 9.9% respectively
Slide 12: Earnings Before Interest Expense & Taxes (EBIT)
Earnings Before Interest Expense & Taxes (EBIT) 1.00 0.49 0.50 0.03 - Year A$ million 2006 * 2007 2008 -0.50 -1.00 -1.50 -2.00 -1.76 * Excluding profit on disposal of Cyclopharm Limited of $11.8 million • Group EBIT of $0.49 million in 2008 • Health division EBIT of $0.75 million in 2008 (2007: $0.1
Slide 13: Financial Summary – Balance Sheet
Financial Summary – Balance Sheet Balance Sheet 2008 2007 As at 31 December (A$ million) (A$ million) % Change Current assets 6.22 4.66 33.5% Non-current assets 2.42 2.07 16.9% Total assets 8.64 6.73 28.4% Current liabilities (4.78) (3.84) 24.3% Non-current liabilities (0.02) (0.00) >100% Total liab
Slide 14: Investment Division
Investment Division • Progress on 372 units of houses and shops project in Malaysia Group has 20.1% share of profit All units of phase 1 sold in 2008; delivery in next 2 months Expected to launch Phase 2 in 2nd Half 2009
Slide 15: Overall Challenges
Overall Challenges • Global Financial crisis • Cost of materials • Stringent Government regulation in new business units e.g. China & Thailand
Slide 16: Outlook for 2009
Outlook for 2009 • 1st Half 2009: Sales: Positive growth over 2008 Profitability: Expect operating profit to be offset by legal costs (TGA/PAN) • Continue strengthening foothold in new business units • On-going growth expansion initiatives (Indonesian market)
Slide 17: Agenda
Agenda 1. Chairman’s Address 2. Managing Directors’ Review 3. Ordinary and Special Business: Resolutions 1 - 4 4. Question Time 5. Close
Slide 18: Proxy Summary
Proxy Summary Proxy's Resolution Business For Against Abstain discretion 1 Adoption of Remuneration Report 24,206,350 57,584 8,125 10,000 2 Election of Director 24,252,555 18,221 1,283 10,000 LTIP: Grant of a limited recourse 3 loan to Managing Director to purchase ordinary shares 16,671,865 98,535
Slide 19: Agenda
Agenda 1. Chairman’s Address 2. Managing Directors’ Review 3. Ordinary and Special Business: Resolutions 1 - 4 4. Question Time 5. Close
Slide 20: Summary
Summary • Continue building Health Division’s Established Businesses • On-going new business initiatives will lead to stronger & profitable Group in the longer term • Remain confident of our growth strategy: Expanding existing & building new businesses
Slide 21: Agenda
Agenda 1. Chairman’s Address 2. Managing Directors’ Review 3. Ordinary and Special Business: Resolutions 1 - 4 4. Question Time 5. Close
Slide 22: Thank You
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