Metro Performance Glass Ltd · NZX:MPG
Metro Performance Glass — H1 2017 Earnings Presentation
17 slides from Metro Performance Glass's earnings presentation, November 2016
Slide 1: Metro Performance Glass
Metro Performance Glass Results for the 6 months ended 30 September 2016 Strictly confidential and not for public release
Slide 2: Agenda
Agenda 1. Overview – Nigel Rigby, CEO 2. Financial results – John Fraser‐Mackenzie, CFO 3. Market trends – Nigel Rigby 4. AGG and Australian market update – Nigel Rigby Strictly confidential and not for public release 1
Slide 3: 1H17: First half result highlights
1H17: First half result highlights 1 Group revenue rose 23% to $116.3m2 including one month of trading from Australian Glass Group (AGG)1. Excluding AGG, NZ revenue rose 18% to $111.7m 2 Reported EBIT3 rose 14% to $18.2m; normalised EBIT3,4 rose 21% to $19.2m 3 Reported NPAT rose 5% to $11.5m; no
Slide 4: Review of 2017 strategic priorities: half-year snapshot
Review of 2017 strategic priorities: half‐year snapshot • Group revenue +23% to $116.3 million (including one month of trading from AGG), NZ revenue +18% to $111.7 million vs. 1H 2016 1 Drive top line growth • Took a number of steps to increase processing capacity and deliver improved customer servi
Slide 5: Financial results
Financial results Strictly confidential and not for public release
Slide 6: 1H17: Summary financial performance
1H17: Summary financial performance Key P&L items ($000) 1H17 1H16 Group revenue rose 23% to $116.3m including one month of (6 months) (6 months) trading from AGG, from $94.9m in 1H16 Revenue 116,284 94,863 Excluding AGG, NZ revenue rose 18% to $111.7m Cost of sales 57,333 46,498 Gross profit 58,951
Slide 7: 1H17: Summary cash flow & balance sheet
1H17: Summary cash flow & balance sheet 1H17 1H16 Normalised EBITDA rose +25% to $24.0m in 1H16 Key cash flow items ($000) (6 months) (6 months) Operating cash flow conversion was impacted in the period 1,2 by the timing of tax payments, resulting in income taxes paid Normalised EBITDA 24,038 19,158
Slide 8: 1H17: interim dividend
1H17: interim dividend The Board has declared an interim dividend of 3.6 cents per share (in line with 1H16), to be paid on 23 January 2017 to all shareholders on the register at 9 January 2017. Fully imputed for New Zealand resident shareholders Reflects the significant opportunities that the group
Slide 9: Market trends
Market trends Strictly confidential and not for public release
Slide 10: Market conditions: NZ macro trends
Market conditions: NZ macro trends Construction activity and building consents have returned to pre global financial crisis levels, backed by record net migration, low interest rates and continuing positive momentum in building activity Metro Glass’ 1H17 NZ revenue increased +18% vs. 1H16, ahead of
Slide 11: Market conditions: NZ regional trends
Market conditions: NZ regional trends Residential building consent issuance grew 14% year on year to ~29,900 for the twelve months to September, with 70% of those consents in the North Island (Auckland +14%, Waikato +31%, Bay of Plenty +50%) While activity in Canterbury continues to decline post the
Slide 12: AGG and Australian market update
AGG and Australian market update Strictly confidential and not for public release
Slide 13: Australian Glass Group and Australian market update
Australian Glass Group and Australian market update Completed the acquisition of AGG on 1 September 2016, for a total purchase consideration of NZ$47.5m AGG has made good early progress, and we continue to believe that Metro Glass’ core competencies in double glazing and high performance glass posit
Slide 14: Appendix
Appendix Strictly confidential and not for public release
Slide 15: Explanation of non-GAAP profit measures
Explanation of non‐GAAP profit measures Non‐GAAP financial measures Group results are reported under NZ IFRS. This presentation includes non‐GAAP financial measures which are not prepared in accordance with NZ IFRS The non‐GAAP financial measures used in this presentation include: – EBITDA: calculat
Slide 16: Contact information
Contact information Metro Performance Glass Limited Nigel Rigby – Chief Executive Officer nigel.rigby@metroglass.co.nz 5 Lady Fisher Place, East Tamaki (+64) 027 703 4184 Auckland 2013 New Zealand John Fraser‐Mackenzie – Chief Financial Officer Ph: + 64 9 927 3000 john.fraser‐mackenzie@metroglass.co
Slide 17: 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
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