Slide 1: Interim Results to 30 November 2010
NWF GROUP PLC INTERIM RESULTS TO 30 NOVEMBER 2010 SPECIALIST DISTRIBUTOR OF FOOD FEED AND FUEL FOOD,
Slide 2: Contents
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Contents page Wh we are Who 3 Results summary 4 Operational p highlights g g 5 Financial review 8 Development outlook 12 Summary 17 Appendices 18 Business backgrounds Locations Group organisation W
Slide 3: NWF Group plc – who we are
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 NWF Group plc – who we are NWF Group G plc l is i a specialist i li t distributor di t ib t off Food, F d Feed F d and dFFuell Locations 923 employees Operations across the UK, based in Cheshire, E
Slide 4: Results summary
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 R Results lt summary Strong performance in six months to 30 November Revenue up 15.9% to £203.4 million (H1 2009: £175.5 million) Operating p gpprofit up p 10.3% to £3.2 million ((H1 2009: £2.9 mil
Slide 5: Operational highlights – Food
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 O Operational ti l highlights hi hli ht – Food F d 2010 2009 £m £m % Revenue 22.3 20.6 +8.3 Operating profit 1.0 1.7 -41.2 Average pallet spaces stored 110,000 100,000 +10.0 Storage volumes up 10%
Slide 6: Operational highlights – Feeds
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 O Operational ti l highlights hi hli ht – Feeds F d 2010 2009 £m £m % Revenue 48.5 41.2 +17.7 Operating profit 1.5 0.5 +200.0 Tonnes 212,000 196,000 +8.2 Very strong performance in H1 Increased mar
Slide 7: Operational highlights – Fuels
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 O Operational ti l highlights hi hli ht – Fuels F l 2010 2009 £m £m % Revenue 132.6 113.7 +16.6 Operating profit 0.7 0.7 - Million litres 170 167 +1.8 Performance in line with expectations Revenue
Slide 8: Financial review – income statement summary
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Financial review – income statement summary y Nov 2010 Nov 2009 Growth May 2010 £m £m % £m Revenue Food Distribution 22.3 20.6 8.3% 42.2 Feeds 48.5 41.2 17.7% 93.7 Fuels 132.6 113.7 16.6% 243.9 Tot
Slide 9: Financial review – balance sheet summary
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Financial review – balance sheet summary Nov 2010 Nov 2009 May 2010 £m £m £m Fixed assets 42.6 42.3 42.3 Net Working Capital 13.7 10.4 11.0 Assets Employed 56.3 52.7 53.3 Pension deficit (12.5) (13
Slide 10: Financial review – net debt summary
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Financial review – net debt summary Debt Summary y Movement in net debt New committed facilities of £51.0m with RBS until Oct 2013. In addition £7m of HP finance is available. 20.0 £m Facility Draw
Slide 11: Financial review – cash flow
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Financial review – cash flow Nov 2010 Nov 2009 £m £m Cashflows from operating activities Operating profit 3.2 2.9 D Depreciation i ti and d amortisation ti ti 17 1.7 17 1.7 Working capital (2.3) 2.
Slide 12: Development outlook: Resilience of NWF – strong platform for development
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Development outlook: Resilience of NWF – strong platform for development Strong operational performance through the recession and global financial crisis. Two record years for NWF Food has over 200
Slide 13: Fuels – significant bolt on development – Evesons Fuels
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Fuels – significant g bolt on development p – Evesons Fuels UK fuel distributors market positioning Evesons NWF Fuels Depots 4 13 National Crown Oil DCC (GB Oils) Fleet 21 55 Total Butler Watson Pe
Slide 14: Fuels – Evesons transaction overview
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Fuels – Evesons transaction overview £m 2010 2009 % NWF Group acquired Evesons Fuels Limited for consideration of £3.3m assuming a pension deficit of £0.7m Revenue 51.9 55.6 6.7 Focused on the Midl
Slide 15: Development outlook – Food
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Development p outlook – Food Robust demand for ambient groceries UK Ambient grocery market Boughey has a leading position in North West 35 30 Close relationship with major food retailers 25 Service
Slide 16: Development outlook – Feeds
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Development p outlook – Feeds Wheat Futures Price LIFFE Jan 2011 200 Strong national sales team team, the dairy experts 190 180 Long term stable demand 170 er tonne £ 160 Volatile raw materials 150
Slide 17: Summary
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Summary Another strong gpperformance for NWF in volatile market conditions Operational focus and strong management teams delivering performance: Profit before tax up 10.0% to £2.2 million Debt redu
Slide 18: Appendices
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 A Appendices di B i Business b backgrounds k d Locations Group organisation Wardle site Five year financial performance Divisional financial track record Additional market data 18
Slide 19: Business background – Food
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Business background FOOD Consolidation of ambient grocery products to UK supermarkets Our business 115,000 pallet spaces 900,000 ft2 o of warehousing a e ous g in Wardle a dea and d Deeside ees de
Slide 20: Business background – Feeds
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 B i Business b background k d FEEDS Supply of feed to ruminants in the UK – principally dairy Our Business National player – 14% market share 449,000 tonnes produced in 2009/10 4,000 customers 160
Slide 21: Business background – Fuels
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 B i Business b background k d FUELS Supply of fuels and fuel cards to commercial, domestic and retail customers across the UK. Our business Fourth largest distributor in the UK 35,000 customers 197
Slide 22: Locations
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 L Locations ti Food 1 Deeside 2 Wardle Wardle* Feeds 1 Ayr 2 Penrith 3 Wardle* 4 Wixland Fuels Evesons Fuel sites 1 Acle 1 Kenilworth 2 Ammanford 2 Long Marston 3 Bangor 3 Droitwich 4 Boston 4 Sout
Slide 23: Group organisation
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Group organisation Chief Executive Non-Executive Directors Richard Whiting Mark Hudson (Chairman) John Acornley David Southworth Finance Director Company Secretary Johnathan Ford Rob Andrew Distrib
Slide 24: Wardle site: Group head office and major operating site
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Wardle site: Group head office and major operating site 24
Slide 25: Five year financial performance
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Five year financial performance Revenue Headline EPS 12 400 350 10 300 8 250 £ £m p 200 6 150 4 100 2 50 0 0 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 PBT DPS 5 7 6 4 5 3 4 £m p 3 2 2 1 1 0
Slide 26: Divisional Financial Track records
NWFNWF Group plc Preliminary results year to 31 May 2010 Group plc Interim results to 30 November 2010 Divisional Financial Track records Food Feeds 45 3.5 120 3.0 40 3.0 100 35 2.5 2.5 30 80 £m Revenue £m 2.0 Revenue £ EBIT £m 20 2.0 EBIT £m 25 60 20 1.5 1.5 15 40 1.0 1.0 10 0.5 20 0.5 5 0 0.0 0 0.
Slide 27: Fuels – additional market data
$ 0.00 100.00 120.00 130.00 140 00 140.00 150.00 160.00 10.00 20.00 30.00 40.00 50.00 60.00 70.00 80 00 80.00 90.00 110.00 02/01/2007 02/02/2007 02/03/2007 02/04/2007 02/05/2007 02/06/2007 02/07/2007 02/08/2007 02/09/2007 02/10/2007 Fuels – additional market data 02/11/2007 02/12/2007 02/01/2008 02/