Allied Farmers Limited · NZX:ALF
Allied Farmers — Shareholder Meeting (November 2018)
23 slides from Allied Farmers's shareholder meeting presentation, Nov 27, 2018
Slide 1: Allied Farmers Limited Annual General Meeting
Allied Farmers Limited Annual General Meeting Tuesday, 27 November 2018
Slide 2: Welcome & Introduction
la Welcome & Introduction ~
Slide 3: Annual Financial Statements
Annual Financial Statements
Slide 4: Income and Expenses
Allied Farmers Limited 2018 2017 $m $m Income 18.6 17.4 Expenses 16.2 15.0 Taxation 0.2 0.2 Net Profit 2.2 2.2 Parent Owners Share 1.5 1.6
Slide 5: Continuing Divisions
Allied Farmers Limited CONTINUING DIVISIONS 2018 2017 $m $m LIVESTOCK Revenue 18.2 17.3 Pre-Tax Profit 2.6 2.7 INVESTMENTS Revenue 0.4 0.0 Impairments - - Profit (Loss) 0.4 0.0 CORPORATE Income 0.0 0.1 Costs 0.5 0.3 Interest 0.1 0.1 Profit (Loss) (0.6) (0.3)
Slide 6: Group Balance Sheet
Allied Farmers Limited GROUP BALANCE SHEET 2018 2017 $m $m ASSETS Receivables 14 8 Cash 1 2 Fixed Assets 4 4 Other Assets 1 1 20 15 LIABILITIES & EQUITY Borrowings 6 5 Other incl. Creditors 11 8 Equity 3* 2* 20 15 * Does not include assessed value of investment in subsidiaries or increase in value o
Slide 7: Significant Milestones
Significant Milestones Acquired further share in Redshaws Livestock – now 52% Continued expansion in South Island NZ Farmers Livestock – Good 2nd half after reduced 1st half One off gain for Asset Management Services Finance subsidiary ahead of plan
Slide 8: Current Performance
Current Performance Livestock mixed - some regions ahead of last year - some behind – M bovis impact Meat Processing ahead of last year - expanded into Manawatu Corporate / AFIL costs lower than last year ON TRACK TO BE SIGNIFICANTLY AHEAD OF FIRST HALF OF LAST YEAR
Slide 9: Dividend
Dividend 0.2 cents per share 161.5 M shares $323,000 Fully Imputed Gross Dividend 0.278 cents per share Record Date 14 December 2018 Payment Date 18 January 2019
Slide 10: Allied Farmers - Rural CEO - Steve Morrison
Allied Farmers - Rural CEO - Steve Morrison
Slide 11: Working with Farmers for Farmers
• NZ Farmers Livestock Agency • MyLivestock platform and App • Redshaw Livestock • Farmers Meat Export Ltd - expanded • Livestock Finance – Bullplan and general • Associated Auctioneers JV interests (SML) Working with Farmers for Farmers
Slide 12: Working with Farmers for Farmers
• Experienced and growing team • Adding value for clients - every day • Sales/purchase channel & Deal closure • Win-Win business • Moving with (or ahead of) the times Working with Farmers for Farmers
Slide 13: Today
Today: • Ongoing Growth – recruitment, acquisition, Northland, South Island, yards • NZFLL Group EBT • Dairy challenges • Solid livestock agency performance • FMEL growth – tally and price, trial • Redshaws in line with acquisition basis • M bovis challenge • Financial management • Very good bank su
Slide 14: Looking Forward
Looking Forward: • Building & supporting teams • Developing new agents • Building networks • Robust contracting arrangements • DevelopingFMEL business • Building value • Enhancing control and process Working with Farmers for Farmers
Slide 15: Health and Safety
• Health and Safety of our staff a key priority • Significant efforts to ensure compliance
Slide 16: Future Focus
Future Focus - Informed Growth - Market share - MyLivestock/App/CRM - Bottomline performance - A platform and support for wider Allied Farmers progress Working with Farmers for Farmers
Slide 17: Thank you
Thank you Working with Farmers for Farmers
Slide 18: Questions
Questions
Slide 19: Business Resolutions
Business Resolutions
Slide 20: Resolution 1. Re-election of Andrew McDouall
Resolution 1. Re-election of Andrew McDouall (retiring by rotation)
Slide 21: Resolution 2. Election of Marise James
Resolution 2. Election of Marise James
Slide 22: Resolution 3. Remuneration of Auditors
Resolution 3. Remuneration of Auditors
Slide 23: General Business
General Business