Bega Cheese Limited · ASX:BGA
Bega Cheese — FY2011 Earnings Presentation
11 slides from Bega Cheese's earnings presentation, Aug 31, 2011
Slide 1: FY 2011 Full Year Results
For personal use only FY 2011 Full Year Results Barry Irvin Aidan Coleman Colin Griffin
Slide 2: Overview
Overview For personal use only • Sales Revenue $932 m • NPBT $22 m • EBITDA $52 m • Operating Cash Flow $74 m • Key strategic investment WCB – 15% holding • Capital Expenditure $25 m • Successful Completion of IPO raising $35 m
Slide 3: Group Business Performance
Group Business Performance For personal use only 2011 Group 2011 BGA 2011 TMI $m $m $m Sales Revenue 931.7 651.8 308.0 EBITDA 52.2 29.8 23.4 EBIT 31.1 15.9 16.2 PBT 22.0 9.4 13.6 PAT 21.6 7.2 15.4 Gross before consolidation eliminations and non-controlling interests (BGA & TMI ONLY) Bega Cheese Limi
Slide 4: Group Business Performance: Reconciliation to Prospectus
Group Business Performance Reconciliation to Prospectus For personal use only Financials 2011 Actual 2011 Prospectus $m $m Total Revenue 937.0 942.8 PBT (statutory) 22.0 20.7 PAT 21.6 17.9 Production 2011 Actual 2011 Prospectus Production (‘000 tonnes) 186.2 185.6 Milk Intake (million litres) 591.3
Slide 5: Balance Sheet
Balance Sheet For personal use only 2011 Actual 2010 Actual $m $m Total Assets 462.1 444.5 Inventories 104.6 122.5 Investments 37.0 0.2 Property, Plant & Equipment 197.9 193.8 Total Liabilities 256.6 266.9 Borrowings * 116.3 132.6 Net Assets 205.5 177.6 *Net debt 2011 actual $95.7 m (2010 - $114.4 m
Slide 6: Business Profile
For personal use only Business Profile
Slide 7: Significant investment in infrastructure to ensure a market leading position
Significant investment in infrastructure to ensure a market leading position in the dairy production sector For personal use only Map of facilities • Five plants with well developed technologies including robotics and automated processing lines • Continual investment in technologies to ensure a high
Slide 8: High Quality Value Added Product Range
High Quality Value Added Product Range For personal use only • Cheddar & Processed Cheese • Mozzarella • Cream Cheese • Nutritional Powders • Milk Powders
Slide 9: Well Positioned for Future Growth
Well Positioned for Future Growth For personal use only • Ongoing rationalisation of the domestic and global agricultural and food sectors may provide further opportunities, including the use of unutilised capacities • Continued expansion and innovation of its dairy product range • Leveraging TMI’s
Slide 10: Outlook
Outlook • Stable domestic business with long term customers; For personal use only Fonterra, Kraft etc • First two months of 2011/12 trading in line with expectations • Commodity markets relatively stable • Softening AUD positive for export business • Normal seasonal trends • Further industry ration
Slide 11: Thank you
For personal use only Thank you Bega Cheese Limited