Vulcan Steel Ltd. · ASX:VSL
Vulcan Steel — Shareholder Meeting (October 2022)
32 slides from Vulcan Steel's shareholder meeting presentation, Oct 20, 2022
Slide 1: 2022 Annual meeting of shareholders – Chair and MD/CEO addresses
Vulcan Steel Limited (Vulcan) ASX/NZX/Media Release 20 October 2022 For personal use only 2022 Annual meeting of shareholders – Chair and MD/CEO addresses Attached are the following documents in connection with Vulcan’s 2022 annual meeting of shareholders (Annual Meeting) to be held today (Thursday,
Slide 2: Address from the Chair of the Board of Directors, Russell Chenu
Address from the Chair of the Board of Directors, Russell Chenu Ladies and Gentlemen, fellow Shareholders. Welcome to this meeting, Vulcan’s first annual shareholder meeting as a listed company, but its 26th since its incorporation in 1995. For personal use only The twelve months to June 2022 was a
Slide 3: Address from the Chair of the Board of Directors, Russell Chenu
Address from the Chair of the Board of Directors, Russell Chenu the acquisition of Ullrich. On behalf of the Board and Shareholders, I thank Pip for her service to Vulcan and wish her well in her future endeavours. As a result of Peter’s and Pip’s decisions and the appointment of Adrian Casey as a d
Slide 4: Address from the Managing Director and Chief Executive Officer, Rhys Jones
Address from the Managing Director and Chief Executive Officer, Rhys Jones Thank you, Russell. I would like to welcome everyone today either in person or online. My name is Rhys Jones, and I am the Chief Executive of Vulcan Steel. For personal use only Overview This financial year has been both chal
Slide 5: Address from the Managing Director and Chief Executive Officer, Rhys Jones
Address from the Managing Director and Chief Executive Officer, Rhys Jones This record FY22 earnings result coupled with high cash generation has enabled Vulcan to acquire Ullrich Aluminium on a debt funded basis. As the table shows Vulcan’s pro forma net debt to EBITDA cover was approximately 1.4 t
Slide 6: Annual Meeting of Shareholders October 2022
For personal use only ANNUAL MEETING OF SHAREHOLDERS 20 OCTOBER 2022
Slide 7: Welcome
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO For personal use only Welcome Our ambition is driven by our unparalleled dedication to continuous improvement. These past two years have demonstrated how our willingness to capitalise on opportunities and take considered risks over time, reaps rew
Slide 8: Agenda
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO For personal use only 01 Short video 02 Chair Address 03 Managing Director and Chief Executive Officer Address Agenda 04 Q&A 05 Resolutions for approval 06 Voting 07 General Business 3
Slide 9: Voting & Asking Questions
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Voting & Asking Questions For personal use only Link Market Services helpdesk New Zealand – 0800 200 220 Australia – 1800 990 363 4
Slide 10: Your Board of Directors
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Your Board of Directors For personal use only Russell Chenu Rhys Jones Peter Wells Pip Greenwood CHAIR AND INDEPENDENT MANAGING DIRECTOR AND NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR CHIEF EXECUTIVE OFFICER C
Slide 11: Your Leadership Team
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Your Leadership Team For personal use only Russell Chenu Kar Yue Yeo Adrian Casey James Wells Sarah-Jane Lawson MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER CHIEF OPERATING OFFICER CHIEF INFORMATION OFFICER COMPANY SECRETARY CHIEF EXECUTIVE OFFIC
Slide 12: Video: Working at Vulcan
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 01 For personal use only Video Working at Vulcan 7
Slide 13: Agenda
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO For personal use only 01 Short video 02 Chair Address 03 Managing Director and Chief Executive Officer Address Agenda 04 Q&A 05 Resolutions for approval 06 Voting 07 General Business 8
Slide 14: Chair Address
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 02 For personal use only Chair Address Russell Chenu 9
Slide 15: Chair Address
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Chair Address For personal use only • Completed our public listing with an initial market capitalisation of almost NZ$1 billion • A Record Result in FY22 • FY22 Dividend: NZ$0.65 per share • Further executed on our growth strategy with the complet
Slide 16: FY22 Dividend Yield based on IPO Price
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO FY22 Dividend Yield based on IPO Price For personal use only • Vulcan’s annual dividend is based Per share (excluding franking and imputation) NZ$ A$ AUD/NZD rate on a current target payout ratio of Interim 0.2750 0.2567 1.071352 60-80% on statuto
Slide 17: Vulcan's Share Price Performance
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Vulcan’s Share Price Performance For personal use only • VSL share price: +31% vs Peer & +11% vs S&P/ASX 300 since IPO • VSL share price: +22% vs NZX 50 Gross Index since IPO S&P/ASX 300 INDEX, VSL & PEERS PERFORMANCE 1 S&P/NZX 50 GROSS INDEX & VS
Slide 18: MD & CEO Address
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 03 For personal use only MD & CEO Address Rhys Jones 13
Slide 19: Record Results in FY22
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Record Results in FY22 For personal use only REVENUE AT ALMOST ADJUSTED EBITDA 1 ADJUSTED NPAT 2 NZ$1bn NZ$243m NZ$142m up 33% from FY21 up $110m from FY21 up $77m from FY21 ROCE 3 OF DEBT COVER 4 CASH CONVERSION 5 37% 1.4x 85% up 13% from FY21 Ad
Slide 20: Our new Aluminium Business
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Our new Aluminium For personal use only Business • Aluminium is a segment identified on our roadmap for growth • Our acquisition of Ullrich Aluminium business across Australia and New Zealand provides a strong foundation for further earnings growt
Slide 21: Reaffirming Guidance
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Reaffirming Guidance For personal use only • Overall 1Q FY23 trading outcome is consistent with our expectation and guidance • Expect the conditions experienced in 1Q FY23 to continue due to the impact of rising interest rates on general economic
Slide 22: Q&A
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 04 For personal use only Q&A 17
Slide 23: Resolutions for approval
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 05 For personal use only Resolutions for approval 18
Slide 24: Resolution - Auditor's remuneration
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 1 - Auditor’s remuneration For personal use only • That the directors of Vulcan are authorised to fix the fees and expenses of Deloitte Limited (New Zealand), as Vulcan’s auditor, for the financial year ending 30 June 2023 • Proxies rec
Slide 25: Resolution - Election of Adrian Casey
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 2 - Election of Adrian Casey For personal use only • That Adrian Casey, who was appointed as a director of Vulcan by the Board on September 2022, be elected as a director of Vulcan • Proxies received: For - 40,091,361 shares (30.5089%)
Slide 26: Resolution - Re-election of Wayne Boyd
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 3 - Re-election of Wayne Boyd For personal use only • That Wayne Boyd, who retires as a director of Vulcan by rotation and is eligible for re-election, is re-elected as a director of Vulcan • Proxies received: For - 39,993,110 shares (3
Slide 27: Resolution - Re-election of Russell Chenu
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 4 - Re-election of Russell Chenu For personal use only • That Russell Chenu, who retires as a director of Vulcan by rotation and is eligible for re-election, is re-elected as a director of Vulcan • Proxies received: For - 45,831,937 sha
Slide 28: Resolution – Grant of performance rights to the MD and CEO
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 5 – Grant of performance rights For personal use only to the MD and CEO • That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, the issue of 221,799 Performance Rights to Vulcan’s Managing Director and Chief Execu
Slide 29: Resolution – Grant of performance rights to the COO and executive director
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO Resolution 6 – Grant of performance rights For personal use only to the COO and executive director • That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, the issue of 55,309 Performance Rights to Vulcan’s Chief Operating Of
Slide 30: Voting
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 06 For personal use only Voting 25
Slide 31: General Business
VULCAN ANNUAL MEETING OF SHAREHOLDERS 2022 VULCAN.CO 07 For personal use only General Business 26
Slide 32: Thank-you for joining us
For personal use only Thank-you for joining us. VULCAN.CO