Bidvest Group Limited · JSE:BVT
Bidvest — Merger or Acquisition (April 2016)
19 slides from Bidvest's merger presentation, April 2016
Slide 1: A great platform for an optimistic tomorrow
www.bidvest.com “….a great platform for an optimistic tomorrow.” April 2016
Slide 2: Agenda
Agenda 01 The transaction David Cleasby Bidvest Group FD 02 Bidvest Group (ex Foodservice) Lindsay Ralphs Bidvest CE Designate Mpumi Madisa Executive director 03 Bidvest Foodservice (BidCorp) David Cleasby Bidvest Foodservice CFO 04 Proforma financials David Cleasby Bidvest Group FD 05 Questions Bid
Slide 3: The transaction
The transaction
Slide 4: Proposed listing and unbundling of the foodservice business on the JSE
Proposed listing and unbundling of the foodservice business on the JSE • Evolution of Bidvest into a major diversified Industrial Group and a global foodservice operator with divergent strategic focusses requiring different management skills The reason • Separation caters for new leadership and succ
Slide 5: Unbundling creates two stand alone groups with separate identity, clear focus and performance goals
Unbundling creates two stand alone groups with separate identity, clear focus and performance goals • Southern African group specialising in services, trading (wholesale) and distribution • Pro forma asset base of R44 billion and pro forma shareholders equity of R20 billion Bidvest Group • Blend of
Slide 6: Bidvest Group (ex Foodservice)
Bidvest Group (ex Foodservice) Lindsay Ralphs – Bidvest CE Designate
Slide 7: Future Bidvest Group ex Foodservice assets – Investment case
Future Bidvest Group (comprising Industrial, Namibia and Corporate) ex Foodservice assets – Investment case A leading South African services, wholesale and distribution group operating in the areas of commercial and industrial products, electrical products, financial services, freight management, of
Slide 8: Bidvest Group after unbundling
Bidvest Group after unbundling LP Ralphs Chief Executive Executive team P Meijer Chief Financial Officer comprising M Madisa Business Development Executive G McMahon Transformation Executive Bidvest Bidvest Bidvest Material Other Industrial Namibia Properties Associates Investments Adcock Ingram Ont
Slide 9: Bidvest Industrial, Namibia and Corporate – recent performance
Bidvest Industrial, Namibia and Corporate – recent performance Lindsay Ralphs – Bidvest CE Designate
Slide 10: Bidvest Industrial – recent performance
Bidvest Industrial – recent performance Half-year ended Half-year ended R’000s Dec 31 2015 Dec 31 2014 Change Turnover 45 263 572 43 881 623 3.1% Trading profit 2 657 183 2 529 180 5.1% Trading margin 5.9% 5.8% General • New streamlined structure reflects core business focus and platform for growth
Slide 11: Bidvest Namibia and Corporate – recent performance
Bidvest Namibia – recent performance Half-year ended Half-year ended R’000s Dec 31 2015 Dec 31 2014 Change Turnover 2 045 915 2 049 033 (0.2%) Trading profit 120 662 172 514 (30.1%) Trading margin 5.9% 8.4% Fishing • Continued negative impact of lower horse mackerel quota allocation Freight & Logist
Slide 12: Bidvest Foodservice (BidCorp)
Bidvest Foodservice (BidCorp) David Cleasby
Slide 13: BidCorp – Proposed listing and unbundling – Investment case
BidCorp - Proposed listing and unbundling from Bidvest Group on the JSE – Investment case One of the top three Foodservice groups outside of America trading across five continents in over 30 countries Financial • Turnover R117 billion and EBITDA R5,2 billion (F2015) Business case • From small beginn
Slide 14: Bidcorp after unbundling
Bidcorp after unbundling B Joffe Executive Chairman Executive team BL Berson Chief Executive comprising DE Cleasby Chief Financial Officer Australasia United Kingdom Europe Emerging Markets Australia Foodservice Greater China, Netherlands, Belgium, Latin America, Italy, Poland, Czech and Middle East
Slide 15: Bidvest Foodservice (BidCorp)
Bidvest Foodservice (BidCorp) David Cleasby
Slide 16: Foodservice – recent performance
Bidvest Foodservice – recent performance Half-year ended Half-year ended R’000s Dec 31 2015 Dec 31 2014 Change Turnover 68 223 647 59 545 021 14.6% Trading profit 2 348 680 1 912 490 22.8% Trading margin 3.4% 3.2% • Successfully exiting low-margin logistics and national contracts business Australasi
Slide 17: Proforma Financials of Bidvest Group and BidCorp
Proforma Financials of Bidvest Group and BidCorp David Cleasby – Bidvest Group FD
Slide 18: Proforma Financial Features of Bidvest Group and BidCorp
Proforma Financial Features of Bidvest Group and BidCorp for the half-year ended December 31 2015 Bidvest Group BidCorp (ex Bidvest (inc Bidvest ZAR Foodservice) Foodservice) OVERALL COMMENTS Turnover 46,3bn 68,2bn • Bidvest Group trading margin 5.8%, Gross profit % 21.0% 20.0% Foodservice trading m
Slide 19: Questions
Questions