Slide 1: Noumi Limited 2023 Results
Noumi Limited 2023 Results 29 August 2023
Slide 2: Important notice and disclaimer
Important notice and disclaimer Summary Information Only This presentation criteria contains general information about Noumi Limited and its consolidated entities (“Noumi Limited”) and its activities current as at the date of this presentation. It is provided in summary and does not purport to be co
Slide 3: Agenda
Agenda 2023 OVERVIEW 01 COMPANY EVOLUTION 02 FINANCIAL PERFORMANCE 03 STRATEGY 04 CLOSING REMARKS 05 Noumi Limited 2023 Results 3
Slide 4: FY23 Overview
FY23 Overview Noumi Limited 2023 Results 4
Slide 5: Strong FY23 revenue and earnings growth
Strong FY23 revenue and earnings growth Reset, Transform, Grow strategy delivers across the board performance improvements. Adjusted operating EBITDA of $30.4m up 315% on FY22 Plant-based Milks delivers record adjusted operating EBITDA of $37.4m up 12.0% Market leading Milklab brand continues strong
Slide 6: FY23 Highlights
FY23 Highlights Noumi Limited 2023 Results 6
Slide 7: Company's Transformation and Evolution
Company’s Transformation and Evolution Noumi Limited 2023 Results 7
Slide 8: 2023 puts Noumi firmly in the Transform phase
2023 puts Noumi firmly in the Transform phase HY22 HY22-23 FY23-25 RESET TRANSFORM GROW The financial, structural, operational Actions to Transform the Company Those improvements provide the and cultural Reset of the Company continue, with operational improvements springboard to Grow the business wa
Slide 9: 2023 Executing against the strategy
2023 Executing against the strategy Reset Achievements – completion of sale of non-core shareholding in AFMH and other corporate legacy issues progressing in line with usual timetable Transformation progress – Dairy and Nutritionals turnaround to $3.8m of adjusted operating EBITDA in H2 despite lack
Slide 10: Noumi – Key manufacturing sites
Noumi – Key manufacturing sites Dairy & Nutritionals Plant-based Milks Shepparton, VIC Ingleburn, NSW • Noumi Nutritionals is a leading • Our state-of-the-art facility in Ingleburn, Australian manufacturer of quality New South Wales specialises in the long life dairy products and development and man
Slide 11: Noumi Brands
Noumi has a broad portfolio of strong multiple markets. 1 brands that meet differing consumer f . N Oo u m I B ra n ds needs and occasions across . x / , (lous roy PUREoMC i” Pure Native Micelle Australias %; ! Own ~y 7 t o MILKLAB Australias: STHESOTH Qa? OProreny noumi. nutritionals
Slide 12: Financial Performance
Financial Performance Noumi Limited 2023 Results 12
Slide 13: FY23 Financial Performance
FY23 Financial Performance Change $ million FY23 FY22 Change Net Revenue growth includes dairy price rises and Milklab growth offsetting (%) deliberately discontinued plant-based products and lower dairy exports Net Revenue1 551.6 522.3 29.3 5.6 Adj Operating EBITDA2 30.4 7.3 23.1 314.7 Adjusted ope
Slide 14: Financial Performance | Plant-based Milks
Financial Performance | Plant-based Milks Financial results Summary of performance Change ($m) FY23 FY22 Change (%) Record earnings, with higher margin revenues largely offsetting discontinued low margin products – mix drives margin expansion Net Revenue1 162.4 164.0 (1.6) (1.0) Adjusted Operating E
Slide 15: Financial Performance | Dairy and Nutritionals
Financial Performance | Dairy and Nutritionals Financial results Summary of performance Change ($m) FY23 FY22 Change (%) Positive adjusted operating EBITDA in H2 FY23 of $3.8m. $20.1m full year turnaround in adjusted operating EBITDA Net Revenue1 389.2 358.3 30.9 8.6 Net Revenue excl. traded milk 37
Slide 16: Cash Flow
Cash Flow Summary 30 Jun 2023 30 Jun 2022 Cash flow from continuing operations 35.2 3.6 Net cash flow from operations significant turnaround in FY23 US litigation settlement and other litigation costs (12.1) (34.7) Income tax refund - 4.1 Active working capital management to manage the impact of inp
Slide 17: Strategy
Strategy Noumi Limited 2023 Results 17
Slide 18: Our Growth Strategy
Our Growth Strategy Develop high quality and innovative dairy and plant products to meet the different nutrition and taste needs of customers and consumers across life stages Complete the Accelerate Deliver Embed Strategic Future Growth Pillars Dairy & Nutritionals Plant–based Milks world class High
Slide 19: Strategy | Plant-based Milks
Strategy | Plant-based Milks Focus Areas Drive Milklab Oat in out-of-home market to partner with Milklab Almond Leveraging investment in Australian out-of-home direct field sales force to increase distribution and market presence Continue to refine and innovate product performance to enhance our Pla
Slide 20: Strategy | Dairy and Nutritionals
Strategy | Dairy and Nutritionals Focus Areas Continued focus on margin growth through waste reduction and other operational efficiencies New product development, delivering benefits to consumers through product innovation Leverage health benefits of PUREnFERRIN® through research Collaborating with
Slide 21: The Healthier Tomorrow Plan
The Healthier Tomorrow Plan We aim to continuously improve our environmental footprint for future generations. Focus areas Waste and Packaging • We are minimising the waste We aim to create we generate, maximising products to improve recyclable materials and consumers’ and communities’ encouraging r
Slide 22: Trading Outlook
Trading Outlook The Plant-based Milks In Dairy and Nutritionals, the The Company is positive business is now firmly Company is closely about its progress. However, established in the growth monitoring developments in macro-economic conditions phase of the strategy. global dairy prices and the create
Slide 23: Appendix
Appendix Noumi Limited 2023 Results 23
Slide 24: Pre-AASB 16 / Significant Items Reconciliation
Pre-AASB 16 / Significant Items Reconciliation Pre Post Significant 1 Significant items before EBITDA AASB 16 Reported AASB 16 AASB 16 Items Onerous contracts provision 4.4 Net Revenue 551.6 - 551.6 - 551.6 Restructuring expenses (4.2) Operating expenses (521.2) 11.2 (510.0) - (510.0) Other litigati
Slide 25: Profit and Loss Summary
Profit and Loss Summary Significant items impacting EBITDA2 30 Jun 2023 30 Jun 2022 30 June 2023 30 June 2022 Adjusted Operating EBITDA (pre-AASB 16) from continuing operations1 30.4 7.3 Onerous contracts provision 4.4 (4.7) Rental expense 11.2 12.1 Restructuring expenses (4.2) (6.5) US litigation s
Slide 26: noumi. Imagining a healthier tomorrow
noumi. Imagining a healthier tomorrow