Slide 1: FY20 Full Year Results Presentation
FY20 Full Year Results Presentation 21 August 2020 Delivering innovative industrial solutions and services ASX: CYG
Slide 2: Trading update
Trading update & Coventry Group Ltd ASX: CYG
Slide 3: Executive summary
Executive summary Health and safety The health, safety and wellbeing of our people is our number one priority. During the year we had 13 Lost Time Injuries (LTI’s). We remain committed to our aspiration for zero LTI’s and zero impact on our people. Trading update Trading performance improved during
Slide 4: Health, Safety and Wellbeing
Health, Safety and Wellbeing The health, safety and wellbeing of our people is our number one priority • 13 Lost Time Injuries (LTI’s) for a total of 108 lost days in FY20. We value the • 8 of the LTI’s were in newly acquired businesses. health, safety and • All incidents and serious near misses are
Slide 5: Financial Highlights
Financial Highlights Strong FY20 sales growth of 22.3% including acquisitions • Excluding acquisitions FY20 sales growth of 4.7% despite the loss of 23 trading days in our New Zealand trade distribution network. • Group sales including acquisitions at $247.6m ($202.3m FY19). • Group sales for July 2
Slide 6: Trading performance by segment
Trading performance by segment Trade Distribution Fluid Systems • Trade Distribution (TD) sales including acquisitions up 28.1% on • Fluid Systems (FS) sales have again seen very strong growth the prior year and excluding acquisitions up 2.6% on the prior with full year sales including acquisitions
Slide 7: COVID-19
COVID-19 The response to the COVID-19 pandemic by the Coventry Leadership Team (CLT) and our people has been exemplary Health, safety and wellbeing • We have prioritised the health, safety and wellbeing of our people along with our customers, suppliers and communities. • Working from home and flexib
Slide 8: Detailed FY20 Financial Results
Detailed FY20 Financial Results • Sales up 22.3% (including acquisitions) ($m) FY20 FY19 ¾ Sales up 4.7% excluding acquisitions ¾ Sales of $247.6m (FY19: $202.3m) Revenue from sale of goods 247.6 202.3 ¾ We estimate the enforced Government lockdown in NZ negatively impacted sales in the order of $2.
Slide 9: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Jun 20 Exc ($m) Jun-19 Jun-20 AASB16 • Net debt position at 30 June 2020 of $3.3m AASB16 Cash & cash equivalents 5.3 7.5 7.5 (net debt position as at 30 June 2019 of Trade and other receivables 35.8 33.5 33.5 $4.1m) Inventories 59.9 53.6 53.6 Other financial assets 2.0 2.
Slide 10: About the Coventry Group
About the Coventry Group ASX: CYG
Slide 11: Our values
OUR VALUES OUR PEOPLE We believe in our people and are committed to their health, safety and wellbeing. OUR CUSTOMERS We are dedicated to our customer’s needs. OUR SUPPLIERS We work in partnership with our suppliers. RESPECT We treat each other, our suppliers, our customers and our environment with
Slide 12: Vision / Strategic Direction
Vision / Strategic Direction Our vision is to create a leading Industrial Supply and Services Group achieving sustainable profitable growth through sensible organic development and acquisitions. EXCITING OPPORTUNITY TO BUILD A LEADING SCALED INDUSTRIAL SUPPLY GROUP As the Group has The Board and A c
Slide 13: Our Story
Our Story 1929 - 1967 - 1984 - 1929 1966 1965 1983 2000 Mr Ronald James Kyle The business prospers. Listed on Acquires a number of Numerous acquisitions including acquires a car dealership the ASX. businesses: diversification into a number of Appointed both Ford and Holden from a liquidator and Fast
Slide 14: Corporate Snapshot
Corporate Snapshot Key Market Metrics SHARE PRICE SHARES ON MARKET NET DEBT 20 August 2020 ISSUE CAPITALISATION 30 June 2020 $ 0.61 89.8M $ 54.8M $- 3.3M Substantial Shareholders 32.7% 9.5% 5.7% 5.0% ASX: CYG
Slide 15: The Board
The Board • Appointed as a director September • Appointed CEO in May 2017 after • Appointed in September 2017. • Appointed in September 2018. • Appointed May 2020. 2014 and Chairman January 2015. holding the role of CFO and • Extensive career in senior • Former Managing Director of • Strong backgrou
Slide 16: Business Overview
Business Overview We supply a range of fastening systems, industrial products and hydraulics, lubrication, fire suppression and refueling systems, cabinet hardware systems and other products. Trade Distribution (TD) Fluid Systems (FS) Comprises Konnect and Artia Comprises Cooper Fluid Systems (CFS)
Slide 17: Trade Distribution – Business Overview
Trade Distribution – Business Overview Solid progress towards sustainable profitable growth • Trade Distribution (TD) sales for the year including acquisitions up 28.1% on the prior year and excluding acquisitions up 2.6% on the prior year. • The underlying EBITDA for TD was $6.7m compared to $3.3m
Slide 18: Trade Distribution – Branch & DC Network
Trade Distribution – Branch & DC Network • New Mackay branch opened in FY20. Currently opening two new stores in WA and SA. • Re-configuration of Pinkenba branch applying Nubco style store merchandising, marketing and promotion concepts completed successfully. Similar works to be undertaken at our K
Slide 19: KAA – Key Strategic Initiatives
KAA – Key Strategic Initiatives Drive profitable sales growth • Improving our value proposition by expanding our range of quality products, continuing to build our supplier relationships, ensuring our stock availability and DIFOT levels in the branch network remain high, increasing the level of expe
Slide 20: Fluid Systems – Business Overview
Fluid Systems – Business Overview Very well run division with a great management team in place • Fluid Systems (FS) have again seen very strong growth with full year sales including acquisitions up 15.2% and excluding acquisitions up 8.5% on the prior year. • Underlying EBITDA for FS was $10.3m comp
Slide 21: Fluid Systems – Branch Network
Fluid Systems – Branch Network • Relocation and integration of Torque and Cooper Fluid Systems Adelaide operations into a better quality customized facility has been completed. • Hunter Valley branch was relocated to a larger custom built facility in FY20. • Sales and technical capability being esta
Slide 22: Acquisitions
Acquisitions Focus on new geographies Profitable & cash flow Sensible strategic acquisitions and industries positive • The Group takes a highly disciplined approach to acquisitions with strict criteria. • Team in place who have a very Can help to Strong under- successful history of growing businesse
Slide 23: Outlook
Outlook The Group is cautiously optimistic for the FY21 financial year - subject to COVID-19 pandemic impacts • Activity in our major end markets (commercial construction, infrastructure and mining) has remained solid to date. However, there is a high level of uncertainty surrounding the scale and d
Slide 24: Disclaimer
Disclaimer Reliance on third party information Forward looking statements The information and views expressed in this presentation were prepared by This presentation may include forward-looking statements. Although the Coventry Group Ltd (the Company) and may contain information that has Company bel
Slide 25: ASX: CYG
&\ Coventry Group Ltd 4\) Coveniry Group Lid ASX: CYG