Shriro Holdings Ltd. · ASX:SHM
Shriro — FY2016 Earnings Presentation
15 slides from Shriro's earnings presentation, Feb 14, 2017
Slide 1: 2016 Full Year Results Presentation
For personal use only SHRIRO HOLDINGS LIMITED (SHM) 2016 Full Year Results Presentation February 2017
Slide 2: Group Performance Highlights
For personal use only Group Performance Highlights ............ Michael Westrup Chief Executive Officer Shriro Holdings Limited ............ SHM 2016 FULL YEAR RESULTS | 2
Slide 3: Highlights
Highlights For personal use only • NPAT of $13.2M, up 6.5%, despite significant new BBQ launch costs • Sales Revenue grew 2.1% - excluding disruption to Appliance sales channel • Everdure entered into a 10 year Global agreement with Heston Blumenthal • The ‘everdure by heston blumenthal’ barbeques t
Slide 4: Profit & Loss Statement
Profit & Loss Statement For personal use only Full Year Ended 31 December 2016 CY16 CY15 $ Million Actual Normalised ∆ • NPAT was 6.5% above normalised CY15 NPAT (prior year) Revenue from 183.5 186.3 (1.5%) ordinary activities • Margin held, despite a weaker Australian dollar Gross Margin % 42.6% 42
Slide 5: Segment Performance – Consumer Products
Segment Performance – Consumer Products For personal use only CY16 CY15 $ Million Actual Normalised ∆ Revenue 101,948 100,140 1.8% EBITDA 16,120 16,761 (3.8%) EBITDA Margin 15.8% 16.7% • Calculators performed very well, possibly as the children from the Howard Government’s 2004 baby bonus are enteri
Slide 6: everdure by heston blumenthal – Consumer Products
everdure by heston blumenthal – Consumer Products For personal use only Australia released in September 2016 Broadening the BBQ range for the US market’s future release Export sales orders received for CY17 in the UK, Germany, Holland, Norway, Denmark, Sweden, Finland and Iceland www.everdurebyhesto
Slide 7: everdure by heston blumenthal – Design Award
everdure by heston blumenthal – Design Award For personal use only The new ‘everdure by heston blumenthal’ barbeques will be receiving a 2017 global iF Design Award The two prestigious iF Design Awards relate to all 5 barbeques within the ‘everdure by heston blumenthal’ product offering SHM 2016 FUL
Slide 8: Segment Performance – Kitchen Appliances
Segment Performance – Kitchen Appliances For personal use only CY16 CY15 $ Million Actual Normalised ∆ Revenue 81,516 86,160 (5.4%) EBITDA 6,634 5,652 17.4% EBITDA Margin 8.1% 6.6% • Kitchen Appliances revenue decreased on the prior corresponding period by 5.4% as revenue was impacted by the disrupt
Slide 9: Balance Sheet & Cash Flows
For personal use only Balance Sheet & Cash Flows ............ Shane Booth Chief Financial Officer Shriro Holdings Limited ............ SHM 2016 FULL YEAR RESULTS | 9
Slide 10: Balance Sheet - Statutory
Balance Sheet - Statutory As at 31 December 2016 For personal use only Dec 16 Dec 15 • Net debt reduced from $9.4 million $M $M Current assets down to $5.5 million Cash and cash equivalents 0.0 1.0 Trade and other receivables Inventories 34.9 31.6 • Gearing remains low with Net 39.7 39.6 Other asset
Slide 11: Cash Generation
Cash Generation For personal use only Net Cash position as at 31 Jan 17 SHM 2016 FULL YEAR RESULTS | 11
Slide 12: Cash Flows – Statutory
Cash Flows – Statutory For personal use only Full Year Ended 31 December 2016 Dec 16 Dec 15 $M $M Cash flows from operating activities • Cash flows now normal and Receipts from customers 198.4 205.2 Payments to suppliers and employees (176.4) (174.0) reflective of the usual trading Net Finance Costs
Slide 13: Outlook
Outlook For personal use only • Financial performance is heavily biased to the second half due to seasonal influences so visibility is unclear at this stage • Global expansion of ‘everdure by heston blumenthal’ to commence on a greater scale in CY17 • Growth will occur in CY17, however the quantum w
Slide 14: Appendix: CY15 Statutory Result to Normalised Result Bridge
For personal use only Appendix CY15 Statutory Result to Normalised Result Bridge (prior year)
Slide 15: Reconciliation – Statutory to Normalised CY15 (prior year)
Reconciliation – Statutory to Normalised CY15 (prior year) For personal use only Full Year Ended 31 December 2015 $ Million CY15 NPAT Statutory 7.1 IPO Costs 5.0 Employee Share Plan 0.2 MEP 0.4 ASX Costs (0.2) Interest 0.2 Tax (0.3) NPAT Normalised 12.4 • Note, all CY16 figures in the presentation a