Maggie Beer Holdings Ltd. · ASX:MBH
Maggie Beer — Investor Presentation (August 2021)
41 slides from Maggie Beer's investor presentation, Aug 19, 2021
Slide 1: FY21 Results
ASX: MBH FY21 RESULTS 19 August 2021 maggiebeerholdings.com.au
Slide 2: FY21 has proven to be a great year for the group
2 FY21 has proven to be a great year for the group, putting us on a clear path of sustained revenue and earnings growth. MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 3: FY21 Summary
3 FY21 Summary FY21 created a clear path of sustained earnings and revenue growth Strong FY21 group results with net sales increasing by 18.8% on FY20 and trading EBITDA increasing by 177% year on year Hampers & Gifts Australia (HGA) was successfully acquired on 21 May 2021. HGA has been successfull
Slide 4: Key FY21 takeaways
4 Key FY21 takeaways Key takeaways from Y20 Strong financial performance across all key metrics NET POSITIVE GROSS TRADING STRONG SALES NPAT MARGIN EBITDA BALANCE SHEET +18.8% $1.9m +$3.6m $3.1m $13.5m to $52.9m vs to 46.8% up in cash ($14.8m) loss 177% on FY20 in FY20 MAGGIE BEER HOLDINGS | INVESTO
Slide 5: All businesses grew net sales in FY21
5 All businesses grew net sales in FY21 The businesses continue to implement their strategic plans driving growth MAGGIE BEER MAGGIE BEER PARIS CREEK ST DAVID DAIRY HAMPERS & PRODUCTS FY21 PRODUCTS FARMS FY21 FY21 NET SALES GIFTS AUSTRALIA NET SALES E-COMMERCE NET SALES FY21 NET SALES* NET SALES +23
Slide 6: Acquisition of HGA already delivering benefits
6 Acquisition of HGA already delivering benefits The cultural alignment of HGA with MBH is excellent and has been key to the speed of the successful integration HGA and MBP fully integrated; HGA responsible for MBP digital marketing from 1 July 2021 MBP e-commerce business relocated to Sydney in Jul
Slide 7: In FY21, the Group delivered a strong set of numbers
7 In FY21, the Group delivered a In FY21, strong thenumbers, set of group delivered despitea very strong set COVID-19 of numbers, impacts. despite COVID-19 headwinds MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 8: MBH delivered strong EBITDA growth
8 MBH delivered strong EBITDA growth Strong FY21 profit growth across the group FY21 net sales up 18.8% on FY20 Net profit after tax of $1.9m (FY20: loss of $14.8m), reflecting the underlying strength of our premium brands, diversified business model, tight cost control and focus on continuous impro
Slide 9: Strong balance sheet supports growth initiatives
9 Strong balance sheet supports growth initiatives ($’000) 30 Jun 21 30 Jun 20 Well-funded Assets - $13.5m cash Cash 13,542 7,245 - $3m of undrawn debt facilities Trade receivables 8,001 8,022 $400k loan from Maggie & Colin Beer repaid in August 2020 and a Inventory 8,514 3,500 further $900k repaid
Slide 10: Positive cashflow achieved
10 Positive cashflow achieved Positive cashflow of $1.5m generated in FY21 FY21 FY20 ($'000) - Reduced fixed cost base Receipts from customers (inclusive of GST) 54,106 43,945 - Turnaround in PCF revenue & profitability Payments to suppliers and employees (inclusive of GST) (53,530) (45,158) - Colle
Slide 11: Positive consumer trends
11 Positive consumer trends Consumers are increasingly demanding Australian products that use local ingredients 100% natural ingredients, with nothing artificial Ethically sourced and produced sustainably Premium products, that are consistently of high quality Healthy but convenient choices, product
Slide 12: Key growth focus across all 4 brands
12 Key growth focus across all 4 brands Expand core ranging in Innovative New Product Implement strategic Continue to refine our Australia and export Development across the marketing plans to manufacturing, markets four core brands linked to capitalise on core distribution & consumer trends and bran
Slide 13: Maggie Beer Products
13 Maggie Beer Products MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 14: New products launching nationally August & September 2021
14 New products launching nationally August & September 2021 MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 15: MBP continued to deliver strong results
15 MBP continued to deliver strong results Maggie Beer Products FY21 FY201 %Change ($'000) Net Sales ($’000) Net Sales 25,646 20,783 23% Gross Margin 11,680 9,953 17% GM % 45.5% 47.9% -2.3 pts 25,646 19,278 20,919 20,783 Total expenses 7,743 6,745 15% Trading EBITDA 3,934 3,208 23% EBITDA Margin 15.
Slide 16: Trading summary
16 Trading summary Strong sustainable growth in EBITDA Net sales up 23% to $25.6m Maggie Beer Products ($’000) FY21 FY20 % change - Cheese range was the best performing category with 50% growth on FY20. The core portfolio of products Net Sales 25,646 20,783 23% including cooking stocks, fruit paste
Slide 17: New digital marketing plan to continue strong e-commerce growth in FY22
17 New digital marketing plan to continue strong e- commerce growth in FY22 Better personalisation for customers: Implementation of new Customer Data Platform Website optimisation Optimise sales pathways, customer journey and expanded SEO Optimise and grow corporate offering/orders Make it easier fo
Slide 18: New e-commerce product range
18 New e-commerce product range The love for the Maggie Beer brand continues COVID-19 has changed consumer purchasing habits, with more sales moving online to trusted premium brands Launched in April 2020, our “Cooking with Maggie” series has now had over 6.7m views on social media, underpinning gro
Slide 19: Increasing brand awareness and sales
19 Increasing brand awareness and sales Engaging year-round Maggie Beer Products marketing drivers Maggie Beer Products’ FY22 marketing strategy will see total media spend increasing in FY22 Including extensive launch plans for new products in retail, as well as continued media spend for core retail
Slide 20: Aligned to key consumer trends
20 Aligned to key consumer trends Making sure consumers know about the great things we already do as a brand! In FY21, MBP completed an in-depth consumer market research project. This provided essential insights that will help shape our new product development, future packaging, marketing and commun
Slide 21: Hampers & Gifts Australia
21 Hampers & Gifts Australia MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 22: New product development to drive growth
22 New product development to drive growth HGA and MBP collaborate to extend their Christmas Hamper range HGA launched 6 new hampers for Father’s Day and will launch 20 new hampers for Christmas The Hamper Emporium has included over 10 Maggie Beer products in its new Christmas Hamper range HGA has u
Slide 23: Acquisition fast tracks direct to consumer & e-commerce growth
23 Acquisition fast tracks direct to consumer & e-commerce growth HGA is an impressive business; led by a highly capable From 21 May team with a market leading position, high gross Hampers & Gifts Australia ($’000) FY211 2021 margins, strong cash generation and excellent EBITDA contribution Net Sale
Slide 24: Growth drivers for The Hamper Emporium
24 Growth drivers for The Hamper Emporium (vs FY20) WEBSITE TOTAL REPEAT NET PROMOTER NEW VISITS CUSTOMERS CUSTOMERS SCORE CUSTOMERS +105% +99% +113% +2.1% +93.10% to 2.4m to 113k to 34k 78.5 to 79k MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 25: Growth drivers for Gifts Australia
25 Growth drivers for Gifts Australia (vs FY20) WEBSITE TOTAL REPEAT NET PROMOTER NEW VISITS CUSTOMERS CUSTOMERS SCORE CUSTOMERS +54% +49% +48% +2.3% +49% to 2.5m to 40k to 9k to 78.9 to 40K MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 26: HGA digital levers for growth in FY22 & beyond
26 HGA digital levers for growth in FY22 & beyond Better Personalisation for customers: Implementation of Customer Data Platform and personalisation tools to increase frequency of customer shopping and repeat customers Growing Corporate customers: Create a better shopping experience for Corporate Cu
Slide 27: Paris Creek Farms
27 Paris Creek Farms MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 28: New products launched in June 2021
28 New products launched in June 2021 MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 29: Turnaround progressing well
29 Turnaround progressing well FY21 performance reflected a continued turnaround and benefits from operational changes implemented in late FY19 and early FY20 Paris Creek Farms FY21 FY201 % Change ($'000) Net Sales ($’000) Net Sales (excl. intersegment sales) 16,067 15,530 3.5% Intersegment Sales 18
Slide 30: Trading summary
30 Trading summary The business is right sized and re-set, with significant capacity available to grow Net sales up 3.5% to 16.0m % Paris Creek Farms ($’000) FY21 FY20 change - Launch of new Greek Yoghurt range in Q4 FY21 - Continued strong relationship with loyal dairy farmers Net Sales (excl. inte
Slide 31: Increasing brand awareness and sales
31 Increasing brand awareness and sales Paris Creek Farms marketing strategy FY21’s radio campaigns performed well for the brand. This year, PCF will significantly increase its marketing investment from FY21 Driving reach and penetration with high frequency “always on” radio activity, building aware
Slide 32: St David Dairy
32 St David Dairy MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 33: New products launched
33 New products launched MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 34: Resilient & growing in the face of COVID-19
34 Resilient & growing in the face of COVID-19 Despite COVID-19 restrictions and lockdowns throughout FY21, St David Dairy continued to deliver revenue growth and increased its customer base St David Dairy FY21 FY201 % Change ($'000) Net Sales ($’000) Net Sales 8,997 8,190 10% Gross Margin 4,256 4,2
Slide 35: Trading summary
35 Trading summary Brand strength and customer loyalty ensures growth St David Dairy ($;000) FY21 FY20 % change Net sales up 10% to $9.0m Net Sales 8,997 8,190 10% - Milk sales continued to perform strongly, being the largest product category at 67% of total net sales (FY20: 67%). Milk sales were up
Slide 36: We are looking forward to FY22
36 We are looking forward to FY22, with the exciting growth prospects. MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 37: Group performed well in FY21 despite COVID-19 pandemic
37 Group performed well in FY21 despite COVID-19 pandemic All MBH staff strongly encouraged to get vaccinated as soon as they can; MBH provided time off for staff to do this and understood that some would require sick leave after their vaccination. All MBH Directors are fully vaccinated COVID-19 pan
Slide 38: The future is bright
38 The future is bright MBH has a clear path to sustained earnings and revenue growth, with four premium brands that remain on- trend and continue to resonate with Australian & international consumers Following the purchase of HGA, MBH has a large e-commerce business that will accelerate growth, whi
Slide 39: Thank you. Questions?
39 THANK YOU. QUESTIONS? MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
Slide 40: Disclaimer
40 Disclaimer This presentation is provided by Maggie Beer Holdings Ltd (MBH) to provide summary information about MBH and its subsidiaries and their activities as at the date of this presentation. The information in this presentation is of a general nature and does not purport to be complete and ma
Slide 41: Thank you
41 Thank you MAGGIE BEER HOLDINGS | INVESTOR REPORT | 2021
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