Glg Corp Ltd · ASX:GLE
Glg — Shareholder Meeting (November 2019)
31 slides from Glg's shareholder meeting presentation, Nov 26, 2019
Slide 1: GLG Corp Ltd Annual General Meeting
For personal use only GLG CORP LTD Annual General Meeting LEVEL 11, 1 MARGARET STREET SYDNEY 11:00am Sydney Time 26th November 2019 WELCOME
Slide 2: Cautionary Note on Forward-looking Statements
Cautionary Note on Forward-looking Statements For personal use only This presentation may contain statements regarding the business of GLG Corp Limited and its subsidiaries (‘Group’) that are of a forward looking nature and are therefore based on management’s assumptions about future developments. S
Slide 3: Board of Directors, Exec & Auditor
Board of Directors, Exec & Auditor For personal use only Members of The Board • Estina Ang Suan Hong – Executive Chairman & CEO •Grant Hummel – Independent Director, Chairman of Nomination & Remuneration Committee • Peter Tan – Independent Director, Chairman of Audit Committee • Felicia Gan – Execut
Slide 4: Agenda of AGM
Agenda of AGM For personal use only Director’s Review including Market Place Outlook Annual Report Resolutions Any Other Business
Slide 5: Director's Review
For personal use only Director’s Review
Slide 6: Income Statement FY2019 vs FY2018
Income Statement FY2019 vs FY2018 For personal use only GLG Corp Ltd FY2018 FY2019 Income Statement % Change US’000 US’000 Sales 180,606 175,709 -3% Cost of sales (155,326) (148,267) -5% Gross Profit 25,280 27,442 +8% Other Operating Income 1,118 1,031 -9% Selling & Distribution Expenses (6,252) (8,
Slide 7: Revenue by Key Customers
Revenue by Key Customers FY2019 vs FY2018 For personal use only FY2018 FY2019 Variance CHANGE Sales from Top 10 Customers US'000 US'000 US'000 % MACY'S 49,513 50,230 717 1% WAL-MART USA 57,375 48,072 (9,303) -16% WAL-MART CANADA 34,151 32,993 (1,158) -3% AERO 17,504 12,702 (4,802) -27% LIDL 10,256 -
Slide 8: Revenue for FY2019 by Quarter
Revenue for FY2019 By Quarter - Value and Unit Price For personal use only FY2019 Revenue by Average price Quarter Sales Dozen per dozen US$ million US$ million US$ 1Q: Jul-Sep 2018 43.4 1.2 36.17 2Q: Oct-Dec 2018 45.4 1.4 32.43 3Q: Jan-Mar 2019 40.4 1.1 36.73 4Q: Apr-Jun 2019 46.5 1.3 35.77 Grand T
Slide 9: Full Year Performance FY2019 vs FY2018
Full Year Performance FY2019 vs FY2018 GLG Corp Ltd For personal use only Revenue & Gross Profit (US$K) GP% Revenue GP GP% 200,000 16.50% 180,606 180,000 175,709 16.00% 16.00% 160,000 140,000 15.50% 120,000 15.00% 100,000 14.50% 80,000 60,000 14.00% 14.00% 40,000 27,442 25,280 13.50% 20,000 0 13.00%
Slide 10: Cost below Gross Margin Analysis
Cost below Gross Margin Analysis FY2019 vs FY2018 FY2018 FY2019 % Change For personal use only US’000 US’000 Selling & Distribution Expenses (6,252) (8,315) 33% Administrative Expenses (11,614) (13,867) 19% Other Operating Expenses (2,649) (1,675) 37% Finance cost (2,077) (3,178) 53% • Selling & Dis
Slide 11: Financial Highlights of FY2019
Financial Highlights of FY2019 For personal use only
Slide 12: Operational Highlights for the Financial Year Ended June 2019
OPERATIONAL HIGHLIGHTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2019 FY2019 wasa challenging year for the Company as a whole, as we faced headwinds in sales efforts which resulted in lower sales by nearly US$5 million, mainly attributed to continued weakness in our end-customer retail apparel market in
Slide 13: Operational Highlights of FY2019
Operational Highlights of FY2019 For personal use only
Slide 14: Operational Highlights of FY2019
Operational Highlights of FY2019 For personal use only
Slide 15: Operational Highlights of FY2019
Operational Highlights of FY2019 For personal use only
Slide 16: Factory Highlights of FY2019 - Maxim Malaysia Fabric Mill
Factory Highlights of FY2019 MAXIM MALAYSIA – FABRIC MILL For personal use only
Slide 17: Factory Highlights of FY2019
Factory Highlights of FY2019 For personal use only
Slide 18: Factory Highlights of FY2019
Factory Highlights of FY2019 For personal use only
Slide 19: Factory Highlights of FY2019
Factory Highlights of FY2019 For personal use only
Slide 20: Outsourced Manufacturing Partner
For personal use only * Outsourced Manufacturing Partner
Slide 21: Marketplace Update
Marketplace Update The apparel retail industry continues to see more and more successful retailers adopting the Online-to-offline (O2O) model with physical store operations whilst O2O For personal use only expanding their online platform with increased sales. This reaffirms our belief that physical
Slide 22: Outlook Update
Outlook Update For personal use only Optimistic Economic Outlook for Retail Industry in 2020 is supported by: Strong GDP growth (this year, 2019 annual GDP of U.S. economy is pacing at a stronger rate than the average annual GDP of the past 10 years) Historic unemployment at 3.6% (50-year low)
Slide 23: Annual Report FY2019
For personal use only Annual Report FY2019
Slide 24: Annual Report
Annual Report For personal use only • To table and consider the Annual Report of the Company which includes the following: - Financial Report - Directors’ Report - Auditor’s Report for the period ended 30 June 2019 • Questions or comments? 14 Nov 2016 AGM FY2016 24
Slide 25: Resolutions
For personal use only Resolutions
Slide 26: Resolutions
Resolutions For personal use only • Resolution 1: Adoption of Remuneration Report • Resolution 2: Re-election of Mr. Grant Hummel as Director • Resolution 3: Re-election of Mr. Peter Tan as Director • Resolution 4: Re-appointment of Auditor of the Company 26 Nov 2019 AGM FY2019 26
Slide 27: Adoption of the Remuneration Report
Resolution 1 For personal use only Adoption of the Remuneration Report “That, for the purpose of Section 250R(2) of the Corporations Act and for all other purposes, approval is given for the adoption of the Remuneration Report as contained in the Company’s annual financial report for the financial y
Slide 28: Re-election of a Director
Resolution 2 For personal use only Re-election of a Director “That Mr. Grant Hummel, having been appointed as an addition to the Board, and who retires in accordance with clause 12.7 of the Company’s Constitution, and being eligible, offers himself for re- election as a Director of the Company, is h
Slide 29: Re-election of a Director
Resolution 3 For personal use only Re-election of a Director “That Mr. Peter Tan, having been appointed as an addition to the Board, and who retires in accordance with clause 12.7 of the Company’s Constitution, and being eligible, offers himself for re- election as a Director of the Company, is here
Slide 30: Re-appointment of BDO as Auditor
Resolution 4 For personal use only Re-appointment of BDO as Auditor That BDO East Coast Partnership, having been appointed as auditor in the 2019 financial year, be re-appointed as auditor for GLG Corp for the 2020 financial year The Company proposes and a shareholder has nominated that BDO East Coa
Slide 31: For personal use only
For personal use only