Myeco Group Ltd · ASX:MCO
Myeco — SECOS Group — Shareholder Meeting (November 2024)
24 slides from Myeco's shareholder meeting presentation, Nov 14, 2024
Slide 1: 2024 AGM Presentation
2024 AGM PRESENTATION SECOS GROUP LIMITED (ASX: SES) 14 NOVEMBER 2024
Slide 2: Presenters
PRESENTERS James (Jim) Walsh Richard Tegoni Colin Lai Chairman Chief Executive Officer Chief Financial Officer & & Executive Director Company Secretary SECOS GROUP LIMITED (ASX: SES) 2 AGM PRESENTATION – NOV 2024
Slide 3: CEO Presentation
CEO PRESENTATION SECOS GROUP LIMITED (ASX: SES) AGM PRESENTATION – NOV 2024
Slide 4: Strategic Direction
STRATEGIC DIRECTION A TRULY SUSTAINABLE PRODUCTS COMPANY, LEADING THE WAY IN SUSTAINABLE SOLUTIONS ● A leading producer of sustainable packaging materials in Australia with the objective of becoming a global leader ● Proactive in the evolving regulatory and market landscape in Australia and shall co
Slide 5: MyEcoWorld
MYECOWORLD® THE LEADING BRAND IN COMPOSTABLE CADDY BAGS AND BIN LINERS IN AUSTRALIA ● 33% growth in FY24 MyEco®️ retail sales in major retailers and independent distributors and 63% growth in Q1 FY25 vs Prior Comparative Period (PCP) ● MyEco®️ brand launched in 2021 and is now the leading compostabl
Slide 6: SECOS Research and Development Capabilities
SECOS RESEARCH AND DEVELOPMENT CAPABILITIES • Selected as one of the lead partners in the Federal Government’s Collaborate Research Centre (“CRC”) for Solving Plastic Waste. SECOS’s contribution of $0.6m cash and $0.3m of in-kind activity to the CRC over three years unlocks additional $1.6m of cash
Slide 7: SECOS Product Development Capabilities
SECOS PRODUCT DEVELOPMENT CAPABILITIES SECOS’ Global R&D Centre drives sustainable product development including : • Netting: for produce and agriculture; certification approved in Q1 FY25 • Magazine Wrap: Newly developed; pending certification in H1 FY25 • Produce Bags: Low gauge, low thickness; no
Slide 8: Vertically Integrated Manufacturing and Global Distribution
VERTICALLY INTEGRATED MANUFACTURING AND GLOBAL DISTRIBUTION • Resin manufacturing plants in Malaysia and China with access to world markets • Bag & Film manufacturing production in Malaysia and China with access to world markets • Convertor partnerships to grow production capacity without further si
Slide 9: Leader in Evolving Australian Regulatory and Market Landscape
LEADER IN EVOLVING AUSTRALIAN REGULATORY AND MARKET LANDSCAPE In June 2024, Recycling Victoria released a draft Household and Recycling Service Standard which proposed banning certified compostable caddy bin liners in Victoria’s new four-stream household waste and recycling system. This would reduce
Slide 10: Creating a Stronger Future with a New Corporate Identity
Creating a Stronger Future with a New Corporate Identity If approved at the AGM today, the company name will change from SECOS Group Ltd to MyEco Group Ltd This will tie our corporate identity to our mission and provide stronger brand recognition SECOS GROUP LIMITED (ASX: SES) 10 10 AGM AGMPRESENTAT
Slide 11: SECOS GROUP LIMITED (ASX: SES) AGM PRESENTATION – NOV 2024
SECOS GROUP LIMITED (ASX: SES) 11 AGM PRESENTATION – NOV 2024 11 AGM PRESENTATION - NOV 2024
Slide 12: Strategic Re-brand
Strategic Re-brand A stronger, more memorable brand with heightened appeal and growth potential, capitalising on the proven success of the “MyEco” brand. Developed to adapt to the evolving market landscape, support expansion goals and present a revitalised brand identity that positions us for leader
Slide 13: Bringing MyEco Group to Life
Bringing MyEco®️ Group to Life Our new identity features a bold new logo, vibrant colour palette, accessible font, powerful photography and cohesive visual style, designed to present a refreshed and modernised brand image. This revitalized look embodies our commitment to sustainability and innovatio
Slide 14: Outlook
OUTLOOK SALES OUTLOOK IN H2 FY25 AND BEYOND IS STRENGTHENING ● Continued organic growth of existing products in major retailers and independent distributors of the global MyEco® branded products which are currently sold in over 2,400 stores in Australia and expected to grow in the USA ● Continued gr
Slide 15: CFO Presentation
CFO PRESENTATION SECOS GROUP LIMITED (ASX: SES) AGM PRESENTATION – NOV 2024
Slide 16: FY24 Sales by Product Segment
FY24 SALES BY PRODUCT SEGMENT • MyEco® Australian sales up 28.3% on PCP and continues to be the category leader in compostable bin liner and kitchen caddy sales in both Coles and Woolworths • MyEcoWorld® sales in USA and Canada via Jewett Cameron Company (JCC) are in the ramp-up stage and are trendi
Slide 17: FY24 Profit and Loss
FY24 PROFIT AND LOSS (CONTINUING OPERATIONS) • FY24 Group sales down by 8.1% as outlined by product $’000 FY24 FY23 Var (%) segment on earlier slide Sales 14,449 15,717 (8.1%) Gross Profit 3,112 2,591 20.1% • Gross margin growth continues, up 505 bps on PCP Gross Margin % 21.5% 16.5% 505 bps • Inves
Slide 18: Ongoing Gross Margin Improvement
ONGOING GROSS MARGIN IMPROVEMENT (CONTINUED OPERATIONS) GROSS MARGIN % 22.3% 20.5% 18.8% 14.1% H1 FY23 H2 FY23 H1 FY24 H2 FY24 • Gross margin improvement driven by manufacturing efficiencies and by freight rates and material costs returning to pre-pandemic levels SECOS GROUP LIMITED (ASX: SES) 18 AG
Slide 19: Balance Sheet
BALANCE SHEET • Trade and other receivables decreased by $0.8m $’000 Jun 2024 Jun 2023 Var % mainly due to the final collections of debtors Cash at Bank 6,108 8,424 (27.5%) which were owed to the traditional plastic business which was divested in Q2 FY24 Trade and Other Receivables 3,246 4,033 (19.5
Slide 20: Cash Flow
CASH FLOW $’000 Q1 FY25(1) FY24 FY23 • Closing cash of $5.2m with no debt as at 30 September Opening Cash 6,108 8,424 4,122 2024 Cash Flows from Operating • Cash Flows from Operating (714) (1,287) 2,018 Activities Activities in Q1 FY25 Cash Flows from Investing Activities 9 (302) (639) impacted by t
Slide 21: Corporate Overview
CORPORATE OVERVIEW ASX Code: SES Board & Executive Members Share Price (13 Nov 2024) 4.0 cents Jim Walsh Non-Executive Chairman Market capitalisation $23.9 million Chief Executive Officer & Richard Tegoni Shares on issue (listed) 596.6 million Executive Director Stephen Walters Executive Director Su
Slide 22: Q&A
Q&A SECOS GROUP LIMITED (ASX: SES) AGM PRESENTATION – NOV 24024
Slide 23: Forward-Looking Statements Disclaimer
FORWARD-LOOKING STATEMENTS DISCLAIMER This presentation contains “forward-looking statements.” Such forward-looking statements may include, without limitation: • estimates of future earnings; • estimates of future production and sales; • estimates of future cash costs; • estimates of future cash flo
Slide 24: SECOS GROUP LIMITED (ASX: SES) AGM PRESENTATION – NOV 2024
SECOS GROUP LIMITED (ASX: SES) 24 AGM PRESENTATION – NOV 2024