Inghams Group Ltd. · ASX:ING
Inghams — Shareholder Meeting (November 2023)
28 slides from Inghams's shareholder meeting presentation, Nov 7, 2023
Slide 1: Inghams Group 2023 Annual General Meeting ASX Release
1 7 November 2023 ASX Release INGHAMS GROUP 2023 ANNUAL GENERAL MEETING Please find attached the Chair’s address, the CEO and Managing Director’s address, and presentation for the Inghams Group Limited (‘Inghams’ or ‘Group’) 2023 Annual General Meeting, which is being held today at 10.00am (AEDT). F
Slide 2: Announcement authorisation and enquiries
2 This announcement has been authorised by the Inghams Group Limited Chair, and the CEO & Managing Director. Marta Kielich Company Secretary Investor Enquiries Media Enquiries Cate Chandler Sue Cato cchandler@inghams.com.au / +61 419 186 575 cato@catoandclive.com / +61 419 282 319 For personal use o
Slide 3: Chair & CEO and Managing Director's Addresses for the 2023 AGM
3 CHAIR & CEO AND MANAGING DIRECTOR’S ADDRESSES FOR THE INGHAMS GROUP 2023 ANNUAL GENERAL MEETING (INCLUDING PRESENTATION) For personal use only
Slide 4: Chair's Address
4 Chair’s Address Good morning. Before I take you through an overview of our FY23 results I would like to take a moment to recognise Jackie McArthur, who will retire from the Board at the conclusion of today’s meeting. Jackie has been a strong and passionate ESG advocate, with a particular focus on
Slide 5: Chair's Address: safety and Board changes
5 Time Injury Frequency Rate, measured per million hours worked, declined 14% while the Total Recordable Injury Frequency Rate declined 7%. I would like to take this opportunity to acknowledge the hard work of our entire workforce. Their commitment to our business and our customers over the past yea
Slide 6: Chair's Address: remuneration
6 Starting with the short-term incentive plan, or STIP. Based on the overall company performance during the financial year, the financial hurdle governing Plan payments was achieved, as were most measures within the Balanced Scorecard, which deals with a range of key financial and non- financial per
Slide 7: Chair's Address: poultry sector and outlook
7 For those who wish to read more, you will find the Remuneration Report starting on page 67 of the 2023 Annual Report. The poultry sector remains an attractive and growing one, underpinned by a number of significant advantages including a price advantage and well-established health benefits over re
Slide 8: Chair's Address: FY23 financial results
8 Total revenue grew strongly at 12.2% on FY22, reflecting the benefit of the price increases applied during the year. This was against the backdrop of slightly lower core poultry volumes during the period, reflecting the impact of some farming issues in Australia, and labour and CO2 supply- related
Slide 9: Chair's Address: investments and acquisition
9 operational, followed by the first breeder farm in April of this year. Works are currently underway on the second and final farm in the complex, which is expected to be operational in FY24. We announced in February that we had agreed to the conditional purchase of Bromley Park Hatcheries in New Ze
Slide 10: Chair's Address: trading update and outlook
10 As you will have read in our announcement released to the ASX on October 31, we provided an update on trading since the start of the new financial year, along with earnings guidance for the first half FY24. I am pleased to report that we have had a positive start to FY24, the pace and momentum of
Slide 11: Inghams Group Limited 2023 Annual General Meeting
For personal use only Inghams Group Limited 2023 Annual General Meeting 7 November 2023
Slide 12: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER The material in this presentation is general background information about the activities of Inghams Group Limited (Inghams) and its subsidiaries (Inghams For personal use only Group), and is current at the date of this presentation, unless otherwise noted. It is infor
Slide 13: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY For personal use only We acknowledge the Gadigal people of the Eora nation, on whose land we meet today. We pay our respects to their Elders past, present and emerging, and to all Aboriginal and Torres Strait Islander Peoples here today. Artist: Kelly Taylor www.ktaborigin
Slide 14: Agenda
AGENDA For personal use only 1 Chair’s Address Helen Nash 2 CEO & Managing Director’s Address Andrew Reeves 3 Formal Business of the Meeting Helen Nash 4 General Business Helen Nash 4
Slide 15: How to Vote
HOW TO VOTE IF YOU REQUIRE ASSISTANCE BEFORE OR DURING THE MEETING CALL +61 3 9415 4024 For personal use only § When the Chair declares the poll open, select the ‘Vote’ icon and the voting options will appear on your screen § To vote, select your voting direction. A tick will appear to confirm recei
Slide 16: How to Ask a Question
HOW TO ASK A QUESTION For personal use only § To ask a written question select the Q&A icon § Select the topic your question relates to from the drop-down list § Type your question in the text box and press the send button § To ask a verbal question follow the instructions below the broadcast window
Slide 17: Board of Directors
BOARD OF DIRECTORS Helen Nash Rob Gordon Non-Executive Chair Non-Executive Director For personal use only Chair of Nominations Committee Member of the Finance & Audit Committee, member of the Nominations Committee and a member of the Risk & Sustainability Committee Andrew Reeves Timothy Longstaff Ch
Slide 18: Executive Leadership Team
EXECUTIVE LEADERSHIP TEAM For personal use only Andrew Reeves Gary Mallett Edward Alexander CEO & Managing Director Chief Financial Officer Chief Executive, New Zealand Anne-Marie Mooney Mark Powell Seb Brandt Chief Operations Officer Chief Customer Officer Chief Strategy & Planning Officer Grant Ke
Slide 19: Chair's Address
For personal use only CHAIR’S ADDRESS HELEN NASH
Slide 20: Chair's Address
CHAIR’S ADDRESS For personal use only Performance overview Our people & culture Board changes ESG Remuneration update Looking ahead 10
Slide 21: CEO & Managing Director's Address
For personal use only CEO & MANAGING DIRECTOR’S ADDRESS ANDREW REEVES
Slide 22: Highly Diversified Network
HIGHLY DIVERSIFIED NETWORK LARGEST POULTRY COMPANY ACROSS AUSTRALIA AND NEW ZEALAND For personal use only § Unmatched geographically diverse network § Biosecurity import barrier § Inghams is uniquely placed to deliver continuity and diversity of supply to meet customers’ needs § Ability to fully ser
Slide 23: Vertically Integrated Operating Model
VERTICALLY INTEGRATED OPERATING MODEL OPTIMISING VALUE FROM OUR OPERATING MODEL THROUGH INTEGRATED PLANNING AND OPERATIONAL EXCELLENCE For personal use only § Enables Inghams to create value and realise efficiencies across a highly complex and large-scale supply chain § Balance and operational excel
Slide 24: FY23 Financial Highlights
FY23 FINANCIAL HIGHLIGHTS RESULTS DEMONSTRATE THE MOMENTUM OF THE RECOVERY For personal use only REVENUE FULLY FRANKED DIVIDENDS $3,044.0M 14.5 CENTS/SHARE +12.2% on FY22 +107.1% on FY22 EBITDA (UNDERLYING PRE AASB 16) $183.6M +35.8% on FY22 NET PROFIT AFTER TAX $60.4M +72.1% on FY22 14
Slide 25: Profitability on a Strong Recovery Path
PROFITABILITY ON A STRONG RECOVERY PATH EBITDA PRE AASB 16 INCREASED 35.8% ON FY22 AS 2H EARNINGS REBOUND TO HISTORICAL LEVELS For personal use only FY23 growth of +35.8% on FY22 FY19: $208.6M FY20: $179.7M FY21: $209.6M FY22: $135.2M FY23: $183.6M Omicron $109.6M $108.9M (3Q FY22) $99.0M $100.7M $9
Slide 26: Investments Focused on Enhancing Network Capacity, Capability and Efficiency
INVESTMENTS FOCUSED ON ENHANCING NETWORK CAPACITY, CAPABILITY AND EFFICIENCY For personal use only Implementing higher levels of automation is a key element of Investing in automation our network plans to provide enhanced capacity, capability and efficiency Opened two state-of-the-art, temperature-c
Slide 27: ESG Performance
ESG PERFORMANCE INGHAMS IS A LEADER IN ANIMAL WELFARE, SUSTAINABILITY, FOOD QUALITY AND SAFETY For personal use only Our People & Consumers Our Animals Our Planet Reduced the Lost Time Reduced absolute Injury Frequency Rate by First poultry producer in Scope 1 & Scope 2 GHG 14% and the Total New Zea
Slide 28: FY24 Trading Update
FY24 TRADING UPDATE 2H23 OPERATIONAL RECOVERY UNDERPINS POSITIVE START TO FY24 For personal use only § Trading update and 1H24 earnings guidance announcement released to the ASX on 31 October § 2H23 recovery in operational performance in AU/NZ across a broad range of metrics underpinned a positive s