Savor Ltd. · NZX:SVR
Savor — Shareholder Meeting (September 2023)
46 slides from Savor's shareholder meeting presentation, Sep 20, 2023
Slide 1: Annual Shareholders Meeting
Annual Shareholders Meeting 20 September 2023 LIMITED
Slide 2: Welcome
Welcome Savor Limited Annual Shareholders Meeting 2
Slide 3: Agenda
Agenda – Welcome – Chairman’s Address – CEO’s Address – Formal business – Questions – Close Savor Limited Annual Shareholders Meeting 3
Slide 4: Chairman's Address - Paul Robinson
Chairman’s Address Paul Robinson Savor Limited Annual Shareholders Meeting 4
Slide 5: Year of consolidation - sustained cost control
Year of consolidation - sustained cost control Key objectives: 1. 2. 3. Optimising Business Driving Operating Continued Debt Performance Cash Flow Reduction Achieved by: Controlling the wage cost Driving efficiencies through cost of goods sold Minimising variable costs Savor Limited Annual Sharehold
Slide 6: Wage Cost Management
Wage Cost Management Government friction costs have increased minimum wages and visa costs base salaries Staff shortages through COVID-19 have led to carrying high staff costs going into 2023 An overall 2% reduction in labour costs, as a result from; • Centrally managed rosters and twice weekly meet
Slide 7: Cost of Goods Sold Mitigation
Cost of Goods Sold Mitigation Against a backdrop of a circa 9% increase on input costs the Group managed to hold our year to date cost of goods sold (COGS) to 31% of sales At 31% of sales COGS are only 1% higher than our long run target of 30% annually This has been achieved by: • Inelastic demand f
Slide 8: Revenue growth
Revenue growth REVENUE 46% improvement on the prior year 25.00 20.00 Continued growth in revenue demonstrates the strength of the Group’s brands and varied offerings, accompanied 15.00 by the excellence and dedication of our staff $m 10.00 Despite macro-economic headwinds, revenue is only 5% behind
Slide 9: Cash from operations
Cash from operations 2.50 Net operating cash was $1.6m for the year to date 2.00 1.50 Compared to last years result from the same period this was an improvement of 365% 1.00 $m These funds have been used to continue to drive 0.50 down the Group's term debt - Management are mindful that circa $4.5m o
Slide 10: Operating Earnings (EBITDA)
Operating Earnings (EBITDA) 2.50 YTD EBITDA was $2.1m 2.00 1.50 This represents a 198% increase on the prior year 1.00 EBITDA is 8% behind budgeted forecast as a $m result of: 0.50 (i) Revenue being down by 5% to budget - (ii) Wages behind budget by 2%, and -0.50 (iii) Cost of Goods sold running 1%
Slide 11: CEO's Address - Lucien Law
CEO's Address Lucien Law Savor Limited Annual Shareholders Meeting 11
Slide 12: Areas of focus
Areas of focus 1. 2. Venue highlights Actively driving revenue 3. 4. Cost control & efficiencies Future Savor Limited Annual Shareholders Meeting 12
Slide 13: 1. Venue highlights
1. Venue highlights Savor Limited Annual Shareholders Meeting 13
Slide 14: 14
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Slide 15: 15
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Slide 17: 2. Actively driving revenue
2. Actively driving revenue Savor Limited Annual Shareholders Meeting 17
Slide 18: Driving Revenue
Driving Revenue NZFW Out Events Marketing Kahuria Catering Savor Limited Annual Shareholders Meeting 18
Slide 19: Driving Revenue - NZFW, Kahuria
Driving Revenue NZFW Kahuria Savor Limited Annual Shareholders Meeting 19
Slide 20: Driving Revenue - NZFW, Kahuria
Driving Revenue NZFW Kahuria Savor Limited Annual Shareholders Meeting 20
Slide 21: Driving Revenue - NZFW, Kahuria
Driving Revenue NZFW Kahuria Savor Limited Annual Shareholders Meeting 21
Slide 22: Driving Revenue - NZFW, Kahuria
Driving Revenue NZFW Kahuria Savor Limited Annual Shareholders Meeting 22
Slide 23: Driving Revenue - Out, Catering
Driving Revenue Out Catering Savor Limited Annual Shareholders Meeting 23
Slide 24: Driving Revenue - Out, Catering
Driving Revenue Out Catering Savor Limited Annual Shareholders Meeting 24
Slide 25: Driving Revenue - Out, Catering
Driving Revenue Out Catering Savor Limited Annual Shareholders Meeting 25
Slide 26: Driving Revenue - Events
Driving Revenue Events Savor Limited Annual Shareholders Meeting 26
Slide 27: Driving Revenue - Events
Driving Revenue Events Savor Limited Annual Shareholders Meeting 27
Slide 28: Driving Revenue - Events
Driving Revenue Events Savor Limited Annual Shareholders Meeting 28
Slide 29: Driving Revenue - Events
Driving Revenue Events Savor Limited Annual Shareholders Meeting 29
Slide 30: Driving Revenue - Marketing
Driving Revenue Marketing Savor Limited Annual Shareholders Meeting 30
Slide 31: Driving Revenue
Driving Revenue YOUR LUNCH. THE LONGER YOUR LIFE. THE LONGER live longer s that Italians Everyone know us. The than the rest of and happier lives s spent ques tion is how? It’s not hour ng. only inter mittent fasti io. It’s not doing card sing an ice bath. macr o-do And it’s not secret to a ren know
Slide 32: Driving Revenue - Marketing
Driving Revenue Marketing Savor Limited Annual Shareholders Meeting 32
Slide 33: 3. Cost control and efficiencies
3. Cost control and efficiencies Savor Limited Annual Shareholders Meeting 33
Slide 34: Cost control and efficiencies
Cost control and efficiencies Wines Depot Protein Wages & Spirits Savor Limited Annual Shareholders Meeting 34
Slide 35: Depot
Depot Purpose build facility with production for butchery, juice, gelato as well as cold and ambient storage for fresh produce We have further consolidated our purchasing with a 45% increase compared to prior year to further capitalise on economies of scales. Savor Limited Annual Shareholders Meetin
Slide 36: Protein
Protein We completed a tender process for our red meat worth circa $1 million per annum We have now consolidated our purchasing with one supplier who is providing circa 70% of red meat purchases Targeted savings of 15 – 20% on our annual purchases compared to last year We will follow this tender pro
Slide 37: Wines & Spirits
Wines & Spirits These categories represent 70% of our annual beverage sales We have again tendered for both and are currently underway with the goal of being completed in October to take advantage of summer trading Our own label “Idle Hands” launched in January 2023 Idle Hands achieves 75% margin, 5
Slide 38: Wages
Wages We have tightened our staff levels at a venue level and removed $350k of fixed labour cost heading into the winter months Daily management of labour between venues and head office to get ahead of anything that may effect customer demand such as weather events We have achieved a 2% saving to da
Slide 39: 4. Future
4. Future Savor Limited Annual Shareholders Meeting 39
Slide 40: Formalities
Formalities The Group needs to address the following: Resolution 1. Election of Bhupen Master Resolution 2. Auditor Remuneration Savor Limited Annual Shareholders Meeting 40
Slide 41: Resolution 1
Resolution 1 That Mr Bhupen Master Bhupen Master was appointed to the Board in August 2023 and therefore offers himself for re-election by shareholders be elected as a Director at the 2023 Annual Meeting. Bhupen is currently Chair of the Audit & Risk Committee. of the Company. Bhupen Master has spen
Slide 42: Resolution 2
Resolution 2 To authorise the Directors to fix the auditors’ remuneration. Savor Limited Annual Shareholders Meeting 42
Slide 43: Questions
Questions Savor Limited Annual Shareholders Meeting 43
Slide 44: Thank you for attending our Annual Shareholders Meeting
Thank you for attending our Annual Shareholders Meeting 20 September 2023 LIMITED
Slide 45: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer This presentation has been prepared by Savor Limited (NZ company number 3979219, NZX ticker SVR (the “Company”). Information This presentation contains summary information about the Company and its activities which is current as at the date of this presenta
Slide 46: Important Notice and Disclaimer
Important Notice and Disclaimer Non-GAAP financial information Certain financial information included in this presentation is non-GAAP financial information. This non-GAAP financial information is not audited, and caution should be exercised as other companies may calculate these measures differentl