Michael Hill International Ltd. · ASX:MHJ
Michael Hill International — Shareholder Meeting (October 2024)
36 slides from Michael Hill International's shareholder meeting presentation, Oct 23, 2024
Slide 1: AGM Presentation
AGM Presentation 23 October 2024
Slide 2: Disclaimer
DISCLAIMER Certain statements in this report constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the anticipated or planned financial and operational performance of Michael Hill International Limite
Slide 3: Board of Directors
Board of Directors From left to right: Claudia Batten (Independent NED), Rob Fyfe (Independent NED, Chair), Daniel Bracken (Managing Director & CEO), Sir Michael Hill (Founder, Non-independent NED), Dave Whittle (Independent NED), Emma Hill (Non-independent NED, Chair of People Development & Remuner
Slide 4: Online Text Question Process
Online Text Question Process Select the messaging tab Type your question in the ‘Ask a question’ box Select ‘My Messages’ to view your submitted messages along with any written responses 4
Slide 5: Online Audio Question Process
Online Audio Question Process Click ‘Request to Speak’ Enter the topic of your question Click ‘Submit Request’ Click ‘Join Queue’ and follow the audio prompts 5
Slide 6: Voting
Voting Select the voting icon Select your voting preference for each resolution Your selected option will change colour You can change your vote until the poll is closed 6
Slide 7: Chair's address
Chair’s address Rob Fyfe 7
Slide 8: Sustainability #thejewellerthatcares
Sustainability #thejewellerthatcares The Michael Hill Foundation represents our ongoing commitment to meaningful change, and our dedication to a better world. The Foundation encompasses two key areas of focus: Empowering Women and Nature Restoration Through continual initiatives and key charity part
Slide 9: Chair's address
Chair’s address Rob Fyfe 9
Slide 10: Managing Director & CEO Presentation
Managing Director & CEO Presentation Daniel Bracken 10
Slide 11: FY24 Performance Overview
FY24 Performance Overview • Challenging period for the business cycling record performance in FY23, yet still outperforming the market • Margin under pressure due to input costs and market conditions • Digital sales demonstrating a strong return to growth • Significant progress on multi-brand strate
Slide 12: FY24 Group Results
FY24 Group Results FY20H1 Financial Snapshot • Group revenue (including Bevilles) was up 4%, on a FY241 FY232 Change 52-week basis Revenue $645m $619m +4% • Gross profit (including Bevilles) was down 2%, on a Statutory Revenue (FY23: 53-week basis) $630m 2% 52-week basis Gross Profit $391m $399m -2%
Slide 13: Current Trading Update
Current Trading Update • For the first 14 weeks of FY25, Group same store sales were up 4.0% on prior year, with same store sales for the: • Australian segment up 6.3% • Canadian segment up 4.7% • New Zealand segment down 4.2% • Total sales for the Group were up 4.3% for the first 14 weeks of FY25.
Slide 14: Well prepared for Christmas
Well prepared for Christmas • As we prepare for the all-important Christmas Trading period, the positive momentum we have seen in the first 14 weeks is very encouraging. • Our two largest markets of Australia and Canada have shown good consistent growth, and our digital channels are performing well,
Slide 15: Group Strategy – Emphasis on Sales & Margin Growth
Group Strategy – Emphasis on Sales & Margin Growth 2020 – 2023 2023 – 2024 2024 – 2025 2025 – 2030 Reposition Establish Product & Network Michael Hill Portfolio of Brand Expansion & Brand Brands Proposition Productivity 15
Slide 16: Group Strategy – Emphasis on Sales & Margin Growth
Group Strategy – Emphasis on Sales & Margin Growth 2020 – 2023 2023 – 2024 2024 – 2025 2025 – 2030 Reposition Establish Product & Network Michael Hill Portfolio of Brand Expansion & Brand Brands Proposition Productivity 16
Slide 17: Group Strategy – Emphasis on Sales & Margin Growth
Group Strategy – Emphasis on Sales & Margin Growth 2020 – 2023 2023 – 2024 2024 – 2025 2025 – 2030 Reposition Establish Product & Network Michael Hill Portfolio of Brand Expansion & Brand Brands Proposition Productivity 17
Slide 18: Establish Portfolio of Brands, 2023 - 2024
Establish Portfolio of Brands, 2023 - 2024 Michael Hill Group now services all significant customer segments of the fine jewellery category, and delivers multiple new growth pipelines. New digitally-led bespoke jewellery brand LUXURY Luxury customer with higher ATV 264 physical stores across A
Slide 19: Group Strategy – Emphasis on Sales & Margin Growth
Group Strategy – Emphasis on Sales & Margin Growth 2020 – 2023 2023 – 2024 2024 – 2025 2025 – 2030 Reposition Establish Product & Network Michael Hill Portfolio of Brand Expansion & Brand Brands Proposition Productivity 19
Slide 20: Product & Brand Proposition, 2024 - 2025
Product & Brand Proposition, 2024 - 2025 With the Michael Hill Group multi-brand strategy now in place, each brand is uniquely positioned for different segments and price propositions, and its own strategic priorities. Premium Price / Luxury Uniquely modern, high end bespoke Premium contemporary cla
Slide 21: Product & Brand Proposition, 2024 - 2025
Product & Brand Proposition, 2024 - 2025 21
Slide 22: Product & Brand Proposition, 2024 - 2025
Product & Brand Proposition, 2024 - 2025 22
Slide 23: Group Strategy – Emphasis on Sales & Margin Growth
Group Strategy – Emphasis on Sales & Margin Growth 2020 – 2023 2023 – 2024 2024 – 2025 2025 – 2030 Reposition Establish Product & Network Michael Hill Portfolio of Brand Expansion & Brand Brands Proposition Productivity 23
Slide 24: Network Expansion & Productivity, 2025 - 2030
Network Expansion & Productivity, 2025 - 2030 With each brand uniquely positioned, the Group will be well-placed to grow revenue and profits through a more productive and expanded distribution network. 24
Slide 25: Network Expansion & Productivity, 2025 - 2030
Network Expansion & Productivity, 2025 - 2030 +15% Loyalty members have ~80% higher ATV Key Milestone Moments 25
Slide 26: Network Expansion & Productivity, 2025 - 2030
Network Expansion & Productivity, 2025 - 2030 New Stores Conversion Stores 26
Slide 27: Questions
Questions We are experiencing technical issues 27
Slide 28: Business of the Annual General Meeting
Business of the Annual General Meeting 28
Slide 29: Financial Statements and Reports
Financial Statements and Reports • Audited FY24 Financial Statements • Directors’ report • Auditor’s report 29
Slide 30: Resolution 1: Adoption of Remuneration Report
Resolution 1: Adoption of Remuneration Report To consider and, if thought fit, to pass the following advisory resolution: "That the Remuneration Report of the financial year ended 30 June 2024 (as set out in the Directors' Report is adopted." FOR AGAINST OPEN ABSTAIN EXCLUDED NO. OF SHARES 82,570,77
Slide 31: Resolution 2: Re-election of Sir Michael Hill as Director
Resolution 2: Re-election of Sir Michael Hill as Director To consider and, if thought fit, to pass the following resolution as an ordinary resolution: "That Sir Michael Hill who retires by rotation in accordance with ASX Listing Rule 14.4 and Rule 38.6 of the Company’s Constitution and, being eligib
Slide 32: Resolution 3: Re-election of Emma Hill as Director
Resolution 3: Re-election of Emma Hill as Director To consider and, if thought fit, to pass the following resolution as an ordinary resolution: "That Ms Emma Hill who retires by rotation in accordance with ASX Listing Rule 14.4 and Rule 38.6 of the Company’s Constitution and, being eligible, offers
Slide 33: Resolution 4: Re-election of Claudia Batten as Director
Resolution 4: Re-election of Claudia Batten as Director To consider and, if thought fit, to pass the following resolution as an ordinary resolution: "That Ms Claudia Batten (appointed as a Director of the Company on 30 August 2024), in accordance with ASX Listing Rule 14.4 and Rule 36.2 of the Compa
Slide 34: Resolution 5: Grant of share rights to the MD & CEO
Resolution 5: Grant of share rights to the MD & CEO To consider and, if thought fit, to pass the following resolution as an ordinary resolution: "That for the purposes of ASX Listing Rule 10.14 and for all other purposes, approval be given to grant 1,986,468 share rights to the Managing Director & C
Slide 35: Resolution 6: Related party transaction to loan funds to MD & CEO
Resolution 6: Related party transaction to loan funds to MD & CEO To consider and, if thought fit, to pass the following resolution as an ordinary resolution: "That for the purposes of section 208 of the Corporations Act and for all other purposes, approval is given for the Company to loan up to $1,
Slide 36: INTERNATIONAL LIMI
INTERNATIONAL LIMI
Michael Hill International — Shareholder Meeting (October 2024) on 6ix