Slide 1: Full-Year Results Presentation June 2020
For personal use only Full-Year Results Presentation June 2020 Creating long-term shareholder value through the efficient operation and growth of our core businesses and investments
Slide 2: Organisation Chart (Core Businesses)
use onlyJune 2020 Organisation Chart (Core Businesses) SCHAFFER CORPORATION LIMITED Presentation Manufacturing Group Investments Automotive Leather (83% Owned) SFC (100%), Gosh Capital (83%) personal • Finishing Company Owned Property − Kosicé – Slovakia • Jandakot Rd, Jandakot, WA − Thomastown – Vi
Slide 3: Consolidated Financial Performance
June 2020 Group Consolidated Financial Performance Full-Year Ending June-2020 June-2019 use only Revenue ($m) $155.6 $203.6 NPAT1 ($m) $23.6 $22.9 EPS (cents per share) 171.9 165.6 Ordinary dividends (fully franked) $0.80 $0.70 Presentation • Profit up 3% including 26% decrease in Automotive Leather
Slide 4: Cash Flow Summary
June 2020 Cash Flow Summary Full-Year Ending ($m) June-2020 June-2019 use only NPAT 23.6 22.9 Group investments included: Unrealised pre-tax gains – group investments (10.8) (0.9) • 6 local syndicate property investments Depreciation1 7.5 4.4 ($7.1m) • 1 US syndicate property investment ($1.4m) Pres
Slide 5: Net Debt
June 2020 Group Net Debt Manufacturing Group Investments Syndicated Total Total Automotive SFC Gosh All amounts in $m’s Investment 30 June 30 June use only Leather Investments Capital Properties 2020 2019 Type of Debt: Bank debt (25.1) - (21.7) (6.6) (53.4) (29.2) Equipment finance (7.9) - - - (7.9)
Slide 6: Dividends
June 2020 Dividends • The Board has declared an interim fully franked dividend of 35¢ per share. • Payable on 18 September 2020. use only • Total dividends for FY20 of 80¢ per share, a 14% increase on FY19. Presentation Shareholder Dividends $0.90 $0.80 $0.80 $0.70 $0.70 personal $0.60 $0.50 $0.45 F
Slide 7: Automotive Leather
Full-Year personal ForResults use only Presentation June 2020 Automotive Leather 7
Slide 8: Automotive Leather
June 2020 Automotive Leather Full-Year Ending ($m’s) June-2020 June-2019 use only Revenue 130.1 176.3 Segment NPAT* 17.6 23.4 Presentation * NPAT excludes 16.83% minority interests. Revenue decreased 26% – significant impacted by Covid-19, particularly in Q4 of FY20. European vehicle production
Slide 9: Investments
June 2020 Group Investments Objective: Maximising shareholder medium and long-term value • Access to unique investment opportunities for shareholders use only • Investing in businesses and people with proven track records • Remain flexible and opportunistic Presentation Full-Year Ending ($m’s) June-
Slide 10: Investments – Net Equity Value Per Share
June 2020 Group Investments – Net Equity Value Per Share1 Net Equity Value Per Share1 increased to $11.94/share use only Net Equity Net Value Equity Pre- Net Presentation Book Market Value Tax 1 Equity Cost 2 Value Value Pre-Tax 1 Per Value 3 ($m) ($m) ($m) ($m) share ($m) Property Used by SFC Opera
Slide 11: Investments - Property
use onlyJune 2020 Group Investments - Property Magnesium Dr, Crestmead, QLD Marriott Hotel, Yonkers, New York, USA 6 Centro Ave, Subiaco WA Presentation personal Shaw Rd, Townsville, QLD Hometown, Cannington, WA Fairfield Rd, Brisbane, QLD ForResults Cope Logistics – 7 properties nationwide DoubleTr
Slide 12: Investments - Property Portfolio
June 2020 Group Investments - Property Portfolio SFC SFC SFC Notional Tax Net Current SFC Share of Share of Share of on Capital Equity Ownership Land Lettable Area Ownership Book Value Market Value Debt Gain Value Address Description Structure Size (sqm) (sqm) % ($m) ($m) ($m) ($m) ($m) use only PRO
Slide 13: Investments - Property Portfolio (continued)
June 2020 Group Investments - Property Portfolio (continued) SFC SFC SFC Notional Tax Net Current SFC Share of Share of Share of on Capital Equity Ownership Land Lettable Area Ownership Book Value Market Value Debt Gain Value use only Address Description Structure Size (sqm) (sqm) % ($m) ($m) ($m) (
Slide 14: Beachside North Coogee
June 2020 Beachside North Coogee A 2.1 hectare property that has use only been zoned high density residential from industrial. • State and Federal Government stimulus has accelerated interest Presentation in the site. We are aiming for Phase 1 titles by March 2021. • Residential subdivision plans ar
Slide 15: Lots 701 & 702 Jandakot Road
June 2020 Lots 701, 702 & 703 Jandakot Road A strategic 54.4ha property asset located between two freeways and 15 minutes south of the Perth CBD. Jandakot use only Airport • 38.8ha – Allowable uses are Warehouses, Showrooms, Storage, Masonry Production and Nurseries. This area includes the 6.2 ha cu
Slide 16: Delta
Full-Year personal ForResults use only Presentation June 2020 Delta 16
Slide 17: Delta
June 2020 Delta Full-Year Ending ($m’s) June-2020 June-2019 use only Revenue 17.8 19.5 Segment Underlying NPAT* (0.6) 0.0 Presentation * June-2020 Underlying NPAT excludes ($1.0m) impairment of Delta assets after tax. • Project complexity and schedule delays impacted profit performance. • Management
Slide 18: Outlook – H1 FY21
June 2020 Group Outlook – H1 FY21 Automotive Leather volumes continue to recover. SFC expects FY21 first-half results to be higher than the use only Covid-19 impacted second-half of FY20, supported by new programs in Europe and China. There is optimism for an improvement in Delta’s profitability
Slide 19: Non-IFRS Financial Information
June 2020 Non-IFRS Financial Information As at Net Debt excluding lease liabilities for leases previously classified as operating leases ($m’s) June-2020 June-2019 use only Interest-bearing loans and borrowings 53,333 29,251 Lease liabilities 33,624 8,991 Less lease liabilities relating to leases pr
Slide 20: Disclaimer
use onlyJune 2020 Disclaimer This presentation has been prepared by Schaffer Corporation Limited ACN 008 675 689 for information purposes only. The presentation may contain forward looking statements or statements of opinion. No representation or warranty is made regarding the accuracy, Presentation