Breville Group Limited · ASX:BRG
Breville — FY2013 Earnings Presentation
16 slides from Breville's earnings presentation, Aug 19, 2013
Slide 1: Year Ended 30 June 2013 Investor Presentation
For personal use only 19 August 2013 Manager, Company Announcements, Australian Securities Exchange Limited, Level 4, 20 Bridge Street, Sydney NSW 2000 Year Ended 30 June 2013 Investor Presentation Attached is a copy of the Breville Group Limited Investor Presentation for the Year Ended 30 June 2013
Slide 2: Year End Results FY13
Breville Group Limited YEAR END RESULTS FY13 For personal use only INVESTOR PRESENTATION August 2013 Jack Lord - Chief Executive Officer Mervyn Cohen - Chief Financial Officer
Slide 3: Financial Results Summary
For personal use only Financial Results Summary AUDm FY13 FY12 % Chng Revenue 486.5 427.9 13.7% Revenue growth from Breville designed and developed products EBITDA 78.9 72.5 8.8% EBITDA growth impacted by decline in Keurig commission income and EBIT 71.6 65.6 9.2% associated restructure costs NP
Slide 4: Consistent EBITDA Growth
For personal use only Consistent EBITDA Growth Reported EBITDA (full year) 90,000 80,000 70,000 $000's 60,000 50,000 40,000 30,000 20,000 10,000 - FY08 FY09 FY10 FY11 FY12 FY13 5 year compound annual growth of 16.2% 3
Slide 5: Good EPS and Dividend Growth
For personal use only Good EPS and Dividend Growth 45.00 EPS and DPS 40.00 35.00 cents per share 30.00 25.00 Earnings per share 20.00 (reported) - basic 15.00 Dividends per share 10.00 5.00 - FY08 FY09 FY10 FY11 FY12 FY13 5 year compound annual growth • EPS of 18.3% • DPS of 19.9% 4
Slide 6: Group
Group 1H 2H FY For personal use only AUDm 1H13 1H12 % Chng 2H13 2H12 % Chng FY13 FY12 % Chng Revenue 264.4 233.6 13.2% 222.1 194.3 14.3% 486.5 427.9 13.7% EBITDA 49.7 45.2 10.1% 29.1 27.3 6.7% 78.9 72.5 8.8% EBIT 46.1 41.8 10.2% 25.5 23.7 7.4% 71.6 65.6 9.2% EBIT % 17.4% 17.9% 11.5% 12.2% 14.7% 15.3
Slide 7: Segment Results
Segment Results REVENUE EBITDA For personal use only AUDm 2013 2012 % Chng 2013 2012 % Chng Australia 211.6 201.7 4.9% 24.2 21.3 13.4% International 272.8 226.2 20.6% 58.3 52.0 12.0% North America 192.4 152.2 26.4% 38.5 34.7 10.9% International Distributors 51.1 47.3 8.1% 15.7 13.7 14.1% New Zealand
Slide 8: Australia
Australia 1H 2H FY For personal use only AUDm 1H13 1H12 % Chng 2H13 2H12 % Chng FY13 FY12 % Chng Revenue 114.6 111.8 2.5% 97.0 89.9 7.9% 211.6 201.7 4.9% EBITDA 14.8 14.2 3.9% 9.4 7.1 32.4% 24.2 21.3 13.4% EBIT 14.3 13.6 4.9% 9.0 6.5 37.6% 23.3 20.1 15.5% EBIT % 12.4% 12.2% 9.3% 7.3% 11.0% 10.0% Min
Slide 9: North America
North America 1H 2H FY For personal use only AUDm 1H13 1H12 % Chng 2H13 2H12 % Chng FY13 FY12 % Chng Revenue 111.8 86.8 28.8% 80.6 65.4 23.3% 192.4 152.2 26.4% EBITDA 26.0 22.8 14.0% 12.5 11.9 4.9% 38.5 34.7 10.9% EBIT 25.8 22.6 14.3% 12.1 11.7 3.3% 37.9 34.3 10.6% EBIT % 23.1% 26.0% 15.0% 17.9% 19.
Slide 10: International Distributors
International Distributors 1H 2H FY For personal use only AUDm 1H13 1H12 % Chng 2H13 2H12 % Chng FY13 FY12 % Chng Revenue 21.7 19.7 9.9% 29.4 27.6 6.8% 51.1 47.3 8.1% EBITDA 7.5 6.0 23.6% 8.2 7.7 6.7% 15.7 13.7 14.1% EBIT 7.5 6.0 23.6% 8.2 7.7 6.7% 15.7 13.7 14.2% EBIT % 34.5% 30.6% 27.9% 27.9% 30.7
Slide 11: New Zealand
New Zealand 1H 2H FY For personal use only AUDm 1H13 1H12 % Chng 2H13 2H12 % Chng FY13 FY12 % Chng Revenue 16.3 15.2 7.1% 13.0 11.5 12.6% 29.3 26.8 9.5% EBITDA 2.7 2.3 13.8% 1.5 1.2 16.8% 4.1 3.6 14.8% EBIT 2.6 2.3 13.9% 1.4 1.2 16.8% 4.1 3.6 14.9% EBIT % 16.2% 15.3% 11.1% 10.7% 14.0% 13.3% Minor di
Slide 12: Financial Position at June
For personal use only Financial Position at 30 June AUDm FY13 FY12 • Strong balance sheet • Increased investment in working capital Inventory 83.8 61.6 − Inventories: Overall growth in business, base Receivables 90.8 73.6 inventory new UK business, Breville co-branded Trade and other payables (80.9)
Slide 13: FY14 Product Launches
For personal use only FY14 Product Launches the Oracle the Quick Touch the Crispy Crust the Dual Boiler with automatic Intuitive microwave with smart 12” stone baked pizza oven grinding, tamping and milk texturing settings The world’s first automatic Smart settings take the guess Perfectly crisp
Slide 14: Strategic Growth Initiatives
Strategic Growth Initiatives Heston Blumenthal Global Ambassador For personal use only Leveraging the talents, skills and passion of one of the most exciting and creative chefs in the world to further improve our product development capabilities and develop our “Food Thinking” communication across a
Slide 15: Strategic Growth Initiatives: Nespresso Machine Partner
Strategic Growth Initiatives Nespresso Machine Partner Australia & New Zealand For personal use only Enter one of the largest and fastest growing categories by distributing a range of Breville co-branded Nespresso portioned espresso machines Progress: − Range of 8 products launched June 2013 − Stron
Slide 16: Outlook
Outlook Encouraged by Group’s pleasing FY13 performance For personal use only The Group’s strategy includes a number of initiatives that will assist the Group to address the loss of income from the Keurig distribution business in Canada The Group has: A strong pipeline of new products launching in