Slide 1: December 2009 Half Year Results Presentation
For personal use only Schaffer Corporation December 2009 Half Year Results Presentation
Slide 2: NPAT up 7% despite a 12% decrease in revenue
NPAT up 7% despite a 12% decrease in revenue. Group net debt lowered by 33%. For personal use only % Half Year ($m’s) Dec-09 Dec-08 change Revenue 75.0 85.5 -12% EBITDA 9.3 10.4 -11% EBIT 7.0 7.6 -8% Net profit after tax 3.6 3.4 7% EPS 0.26 0.24 +7% I te i ordinary Interim di dividend di ide d decla
Slide 3: Cash flow
Cash flow For personal use only Half Year Ending (A$m) Dec-09 Dec-08 EBITDA 9.3 10.4 Net interest paid (2.0) (2.8) Tax paid (3.9) (1.1) H Howe change h iin ttrade d working ki capital it l 13 9 13.9 (20 1) (20.1) Other changes in working capital 0.8 1.0 Unrealized (gain)/loss on foreign currency hed
Slide 4: Group net debt substantially reduced
Group p net debt substantially y reduced For personal use only Build. Mat. + JV Invest. Total at Total at Howe Leather Corporate Properties 31/12/09 30/06/09 Type of Debt :- : Bank Debt - recourse 15.0 3.2 - 18.2 24.2 Bank Debt - non-recourse - 23.4 - 23.4 23.5 Govt. Loans - non-recourse - - 32.7 32
Slide 5: Schaffer Building Materials
Schaffer Buildingg Materials For personal use only Building Products
Slide 6: Building Materials Results
Buildingg Materials Results For personal use only $M’s $ Dec-09 Dec-08 % change g Revenue 27.7 37.9 -26.9% Segment EBIT 5.6 5.7 -1.6% Margin 20.2% 15.0% +34.6% • Revenue decline due to completion of major construction projects at Delta Corporation. • Improved margins due to impressive turnaround in
Slide 7: Automotive Leather
For personal use only 7 Automotive Leather
Slide 8: Automotive Leather Results
Automotive Leather Results For personal use only $M’s Dec-09 Dec-08 % change g Revenue 43.6 44.2 -1.3% Segment EBIT 0.4 1.1 -61.7% g Margin 1.0% 2.6% -61.2% • Revenue decreased by 1.3% despite a 17% reduction in sales volume, due to higher value sales mix. • EBIT andd margin i negatively i l impacte
Slide 9: Property
Property p y For personal use only 616 St Kilda Rd, Melbourne IBM Building, Building Hay St St, West Perth 89 St Georges Tce, Perth 9
Slide 10: Property
Property p y For personal use only $M’s $ Dec-09 Dec-08 % change g Revenue 3.5 3.1 +10.9% Segment EBIT 1.8 1.5 +18.3% • Growth in revenue and EBIT fuelled by rent increases. • No material property sales recorded in the current or corresponding prior period. • Vacancyy rate at 31 Dec 09 increased sli
Slide 11: Outlook – Lower H2 FY10 earnings expected
Outlook – Lower H2 FY10 earnings g expected p For personal use only • Building Materials – Improved bidding activity for Delta in recent months is not likely to have a material financial impact , even if successful, until next financial year. Recent small but strategically important contract wins en
Slide 12: Outlook – H2 FY09 cont.
Outlook – H2 FY09 cont. For personal use only • Property p y – Revenue and segment EBIT for the Property division are expected to be slightly lower compared to the results achieved in the prior corresponding period. The main issues likelyy to affect earnings g are a slight g increase in the vacancyy
Slide 13: Outlook - Dividends
Outlook - Dividends For personal use only • The Board had declared an interim dividend of 20c p per share fullyy franked, payable on 26 March 2010. • The final Th fi l dividend di id d for f FY10 will ill nott be b decided d id d until til the th full f ll year financial fi i l results are available