Farm Pride Foods Limited · ASX:FRM
Farm Pride Foods — Shareholder Meeting (November 2023)
16 slides from Farm Pride Foods's shareholder meeting presentation, Nov 28, 2023
Slide 1: Annual General Meeting
Annual General Meeting 28 November 2023 Darren Lurie: Managing Director
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation (“Presentation”) has been prepared by Farm Pride Foods Ltd [ACN 080 590 030] (“FRM” or the “Company”) and is dated 28 November 2023. This Presentation contains summary information about the current and proposed activities of FRM as at the date of thi
Slide 3: 2023 Corporate Summary
2023 Corporate Summary • Dec 2022: Net Loss of ($7.43m) and negative EBITDA* of ($2.81m) for 6 months ending Dec’22 (FY23 First Half). • Jan 2023: Non-Renounceable Entitlement Offer raising $1.37m before costs. • Feb 2023: Placement raising $3.5m before costs. • Feb 2023: Appointment of Darren Lurie
Slide 4: Operations
Operations
Slide 5: Post Capital Raising, Management and Board Changes - Key Operational Changes
Post Capital Raising, Management and Board Changes - Key Operational Changes: • Changing culture with key principles: customer focus, appetite for change, teamwork and safety. • Substantial management and personnel changes. • Increased connection between management and farms with regular visits to f
Slide 6: Actions - Personnel
Actions - Personnel Appointment of New Leadership and Management Personnel • Chief Financial Officer: Tony Enache (ex Bridgewater and Valley Park). Tony is also managing Transport and Logistics • Operations Manager: Gerry Vullings (ex Farm Pride and Pace Farms) • Sales and Marketing Manager: Sarah M
Slide 7: Farm Pride Foods Ltd FY23 Results
Farm Pride Foods Ltd FY23 Results
Slide 8: Historical Financial Performance
Historical Financial Performance *Excludes $2.4m gain on the sale and leaseback of Keysborough site. (i) EBITDA – Earnings before interest, tax, depreciation and amortisation 8
Slide 9: Year to Date Comparison Financial Performance (Unaudited)
Year to Date Comparison Financial Performance (Unaudited) FY23 FY24 $000s % $000s July to Oct July to Oct Inc/(Dec) Inc/(Dec) Revenue 23,237 32,268 9,031 39% EBITDA(i) (1,463) 2,855 4,318 295% Net Loss (5,073) (310) 4,763 94% (i) EBITDA – Earnings before interest, tax, depreciation and amortisation
Slide 10: Financials – Cash Flow
Financials – Cash Flow Cash Flows $000s Apr-Jun22 Jul-Sep 22 Oct-Dec 22 Jan-Mar 23 Apr-Jun 23 Jul-Sep 23 Operating Inflow/(Outflow) (1,893) (1,828) (4,182) (849) (633) 145 Investing Inflow/(Outflow) (43) (63) (20) (96) (350) (558) Financing Inflow/(Outflow) - 3,010 2,620 1,973 255 283 Net Inflow/(Ou
Slide 11: Industry overview
os : a . . Ps a __~< wre Industry overview
Slide 12: Australian Population
Australian Population Source: Australian Bureau of Statistics 12
Slide 13: Average Egg Consumption per person
Average Egg Consumption per person Source: https://www.australianeggs.org.au/egg-industry 13
Slide 14: Egg Production
Egg Production Source: https://www.australianeggs.org.au/egg-industry 14
Slide 15: Supermarket sales by farming system
Supermarket sales by farming system Source: https://www.australianeggs.org.au/egg-industry 15
Slide 16: Thank You Questions
THANK YOU QUESTIONS 28 November 2023
Farm Pride Foods — Shareholder Meeting (November 2023) on 6ix