Metro Performance Glass Ltd · NZX:MPG
Metro Performance Glass — Shareholder Meeting (August 2020)
22 slides from Metro Performance Glass's shareholder meeting presentation, Aug 21, 2020
Slide 1: 2020 Annual Shareholders' Meeting
MET R O P ER FORM ANCE GL ASS 2020 ANNUAL SHAREHOLDERS’ MEETING 21 August 2020
Slide 2: Today's agenda
Today's agenda 1. Welcome and introductions 2. Chair’s address 3. Chief Executive’s address 4. General business and shareholder questions 5. Formal business and resolutions 2
Slide 3: Metro Performance Glass Board of Directors
Metro Performance Glass Board of Directors Angela Bull Russell Chenu Mark Eglinton Peter Griffiths Rhys Jones Graham Stuart 3
Slide 4: Chair's address
A Chair’s address y
Slide 5: Key messages
Key messages COVID-19 restrictions are the new normal and these are being closely managed Refreshed and committed board in place Good performance trajectory across the Group, with a strong turnaround in Australia Continuing to prioritise net debt reduction over dividends this year 5
Slide 6: Chief Executive's address
A Chief Executive’s address y
Slide 7: COVID-19
OUR PEOPLE OUR CUSTOMERS OUR BUSINESS • Maintained normal pay for all staff • Maintained contact and provided • Business continuity plans activated during NZ alert level 4 support throughout lockdown with safe and effective closure and • Continuing to invest in staff training, • Latest customer surv
Slide 8: Highlights of FY20
Highlights of FY20 FY20 results NZ$m1,3 New Zealand 2 Revenue of $203.0m (7)% EBIT $28.2m (9)% Australia 2 Revenue of $51.9m +3% EBIT loss of $3.6m reduced by 25% Group Revenue $255.0m (5)% EBIT $23.2m (8)% Reported loss for the year $77.9m including $86.5m goodwill impairment Net debt reduced by $1
Slide 9: Customer feedback
Customer feedback June 2020 survey: New Zealand 7.3 7.6 7.3 Positives in our people, relationship, communication Improvements sought on lead-times immediately post lock-down June 2019 November 2019 June 2020 Australia 8.0 8.0 8.1 June 2019 November 2019 June 2020 1 Survey question: “On a scale of 1
Slide 10: Sales recovered well following the NZ alert level 4 shutdown
Sales recovered well following the NZ alert level 4 shutdown and were broadly in line with last year in June and July Trading update: April to July 2020 (YTD)1 NZ revenue (NZ$m) 73 54 2019 2020 2019 2020 2019 2020 2019 2020 FY20 YTD FY21 YTD April May June July 1 Based on unaudited management accoun
Slide 11: Australian YTD sales running in line with last year
Australian YTD sales running in line with last year. Sales growth is offsetting the production rationalisation in NSW from late 2019 Trading update: April to July 2020 (YTD)1 AGG revenue (A$m) 17 17 2019 2020 2019 2020 2019 2020 2019 2020 FY20 YTD FY21 YTD April May June July 1 Based on unaudited ma
Slide 12: YTD Group profitability supported by improved AGG results
YTD Group profitability supported by improved AGG results Trading update: April to July 2020 (YTD)1 • AGG has delivered a positive EBIT result YTD which is a strong turnaround from the loss incurred in the same four-month period last year • For the months of May, June and July, the New Zealand busin
Slide 13: Strong operating cashflows supporting ongoing net debt reduction
Strong operating cashflows, focused capital expenditure and prudent cost management is supporting ongoing net debt reduction Trading update: April to July 2020 (YTD)1 Group net debt (NZ$m) 94 83 79 67 55 Mar 18 Mar 19 Jul 19 Mar 20 Jul 20 1 Based on unaudited management accounts. 13
Slide 14: Outlook – uncertainty remains
Outlook – uncertainty remains • Group trading results and NZ building consents have been stronger than anticipated in recent months, however we’re still expecting NZ building activity to soften in the second half of FY21 • We are confident that the underlying improvement in Australian Glass Group’s
Slide 15: Strategy and focus
Strategy and focus Building resilience and Sustaining positive Prioritising debt defending Metroglass’ trajectory in Australia, reduction to provide leadership position and benefiting from increased optionality growing demand for for the future double-glazing 15
Slide 16: General business and shareholder questions
General business and shareholder questions 16
Slide 17: Resolutions
vy Resolutions 17
Slide 18: Resolution 1: Auditors remuneration
Resolution 1: Auditors remuneration To consider and, if thought fit, pass the following ordinary resolution: That the Board be authorised to fix the fees and expenses of PwC as Auditor for the ensuing year. 18
Slide 19: Resolution 2: Graham Stuart
Resolution 2: Graham Stuart Metro Performance Glass constitution and NZX Listing Rule 2.7.1 require that any director appointed by the board must retire from office at the next annual meeting but is eligible to seek election. Director Graham Stuart retires in accordance with this requirement and off
Slide 20: Resolution 3: Mark Eglinton
Resolution 3: Mark Eglinton Metro Performance Glass constitution and NZX Listing Rule 2.7.1 require that any director appointed by the board must retire from office at the next annual meeting but is eligible to seek election. Director Mark Eglinton retires in accordance with this requirement and off
Slide 21: Contact information
Contact information Metro Performance Glass Limited 5 Lady Fisher Place, East Tamaki, Auckland 2013 Ph: + 64 9 927 3000 www.metroglass.co.nz/ Simon Mander – Chief Executive Officer Simon.Mander@metroglass.co.nz (+64) 029 636 2661 Brent Mealings – Chief Financial Officer Brent.Mealings@metroglass.co.
Slide 22: Disclaimer
Disclaimer This presentation (“Presentation”) has been prepared by Metro Performance Glass Limited (Company Number 5267882) (“Metro Performance Glass”). Please do not read this Presentation in isolation This presentation contains some forward looking statements about Metro Performance Glass and the
Metro Performance Glass — Shareholder Meeting (August 2020) on 6ix