Lindsay Australia Limited · ASX:LAU
Lindsay Australia — H1 FY2015 Earnings Presentation
39 slides from Lindsay Australia's earnings presentation, Mar 13, 2015
Slide 1: Investor Presentation FY15 Half Year Results
Investor Presentation For personal use only FY15 Half Year Results
Slide 2: Disclaimer
Disclaimer For personal use only Despite anything stated in this notice or elsewhere in the document, none of the information (whether considered separately or together) constitutes an offer, invitation, solicitation, advice or recommendation with respect to the issue, purchase or sale of any shares
Slide 3: Contents
For personal use only Contents
Slide 4: Contents
Contents For personal use only 1. Overview page 5 2. Shareholder Information page 12 3. Lindsay Transport page 17 4. Lindsay Rural page 23 5. Dividends page 28 6. Appendices page 30 4
Slide 5: Overview
For personal use only Overview
Slide 6: About Lindsay Australia
About Lindsay Australia For personal use only Lindsay Transport alongside Lindsay Fresh Logistics and Lindsay Rural are divisions of Lindsay Australia Limited, a fully integrated transport, logistics, and rural supply company, with a focus on premium service to major customers in the food processing
Slide 7: About Lindsay Australia Cont.
About Lindsay Australia Cont. For personal use only Directors • Kim Lindsay CEO and Managing Director • John Pressler Non-Executive Chairman • Richard Anderson Non-Executive Director • Greg Farrell Non-Executive Director Senior Management • Nathan King CFO and Company Secretary • Glen Lindsay CEO Li
Slide 8: Structure
Structure For personal use only Lindsay Australia Limited ABN 81 061 642 733 Lindsay Transport Pty Ltd Lindsay Fresh Logistics Pty Ltd Lindsay Rural Pty Ltd ABN 62 055 792 919 ABN 90 600 103 142 ABN 80 090 821 300 OVERVIEW 8
Slide 9: Locations
For personal use only OVERVIEW Locations 9
Slide 10: Strategy and Objectives
Strategy and Objectives For personal use only Strategic alignment to refrigerated transport sector Servicing the East of Australia, Western Australia is serviced by subcontractor arrangements Growth of The Lindsay Solution in new and existing geographic areas, for rural and transport customers
Slide 11: The Lindsay Solution
The Lindsay Solution For personal use only Lindsay Rural and Lindsay Transport share common customers in the horticulture industry which enables a strategic advantage by providing unique end-to-end service solution to horticulture customers, the Lindsay Solution. Lindsay Rural Inputs Outputs Lindsay
Slide 12: Shareholder Information
Shareholder Information For personal use only
Slide 13: Overview
Overview For personal use only Listed on ASX in 2002 Market Cap of $122 million* Major Shareholders as at 31st July 2014 -Mizikovsky Group 5.9% -Mulawa Holdings 11.7% -Orora Limited 10.6% -Lindsay Family Interest (1) 16.8% -Washington H Soul Pattison & Co 18.5% (1) Total Interest held by indiv
Slide 14: Share Performance
Share Performance For personal use only 0.60 6,000 0.50 5,000 0.40 4,000 0.30 3,000 0.20 2,000 0.10 1,000 0.00 0 2007 2008 2009 2010 2011 2012 2013 2014 LAU Industrials Index SHAREHOLDER INFORMATION 14
Slide 15: FY15 First Half Results and Highlights
FY15 First Half Results and Highlights For personal use only H1 FY15 H1 FY14 % Increase $’000 $’000 (Decrease) Half Year ended 31st December 2014 Results Revenue 160,977 160,292 0.4 Earnings Before Interest, Tax, Depreciation and 16,135 16,142 0.0 Amortisation Net Profit after Tax 4,466 4,735 (5.7)
Slide 16: FY14 Results and Highlights
FY14 Results and Highlights For personal use only FY14 FY13 % Increase $’000 $’000 (Decrease) Full Year ended 30th June 2014 Results Revenue 311,134 283,465 9.8% Earnings Before Interest, Tax, Depreciation 27,676 28,709 (3.6%) and Amortisation Net Profit after Tax 6,497 7,181 (9.5%) Earnings per Sha
Slide 17: FY15 Half Year Segmented Performance
FY15 Half Year Segmented Performance For personal use only H1 FY15 H1 FY14 % Increase $’000 $’000 (Decrease) Transport Divisional Sales 113,943 116,035 (1.8) Divisional Profit 12,121 11,420 6.1 Profit Margin % 10.6% 9.8% 8.2 Rural Divisional Sales 48,998 45,508 7.67 Divisional Profit 2,181 2,859 (23
Slide 18: FY14 Full Year Segmented Performance
FY14 Full Year Segmented Performance For personal use only FY14 FY13 % Increase $’000 $’000 (Decrease) Transport Divisional Sales 223,277 200,561 11.3% Divisional Profit 18,782 20,514 (8.4%) Profit Margin % 8.4% 10.2% (17.6%) Rural Divisional Sales 90,054 84,497 6.6% Divisional Profit 5,148 3,516 46
Slide 19: Lindsay Transport
For personal use only Lindsay Transport
Slide 20: About Lindsay Transport
About Lindsay Transport For personal use only Lindsay Brothers Transport was founded by Thomas and Peter Lindsay in 1953 Purpose-built refrigerated and ambient equipment fleet, over 1,100 vehicles Approximately 90% of revenue derived from food, or food related customers 17 terminals on the e
Slide 21: Fleet Distribution
Fleet Distribution For personal use only 600 500 400 300 200 100 0 Forklifts Prime Movers Rigid Trucks Sedans & Utilities Trailers Electric Pallet Jacks Sweepers LINDSAY TRANSPORT 19
Slide 22: Operational Statistics
Operational Statistics For personal use only Kilometres: over 55.5 million kilometres per annum Fuel: over 36 million litres per annum Employees: 860 employees as at 31st December 2014 Fatigue, Maintenance and Mass accredited under National Heavy Vehicle Accreditation Scheme (NHVAS) LINDSAY
Slide 23: Key Performance Drivers
Key Performance Drivers For personal use only Operational performance – on-time delivery Customer yield – volume of freight and maximising customer relationship Balanced freight – ability to maximise round-trip profitability Load maximisation – ability to load trucks to maximum weight Qual
Slide 24: Divisional Performance
Divisional Performance For personal use only 250,000 25,000 200,000 20,000 150,000 15,000 100,000 10,000 50,000 5,000 0 0 FY09 FY10 FY11 FY12 FY13 FY14 Total Divisional Sales inc Inter-Segment Sales Divisional Profit LINDSAY TRANSPORT 22
Slide 25: Lindsay Fresh Logistics
Lindsay Fresh Logistics For personal use only
Slide 26: About Lindsay Fresh Logistics
About Lindsay Fresh Logistics For personal use only Lindsay Fresh Logistics, a newly formed transport and logistics provider, located in Brisbane Markets, provides unloading, cross-docking, storage and ripening services. Lindsay Fresh Logistics offers the following services for fresh produce:
Slide 27: Lindsay Rural
For personal use only Lindsay Rural
Slide 28: About Lindsay Rural
About Lindsay Rural For personal use only Originally P&H Rural Supplies established in Bundaberg Region in 1984 Rural merchandising of packaging, nutrients, chemicals and fertilisers Portion of customer base in common to Transport and Rural 19 stores and 3 satellite locations in strategic ho
Slide 29: Operational Statistics
Operational Statistics For personal use only 114 employees as at 31st December 2014 HACCP and Agsafe accredited Product mix: - Fertiliser 17% - Packaging 29% - Chemicals 14% - Nutrients 13% - Irrigation 5% - Other 22% LINDSAY RURAL 25
Slide 30: Key Performance Drivers
Key Performance Drivers For personal use only Sales growth Stock control Customer service Training of sales personnel Labour and property cost control Regional weather and annual rainfall Margin maintenance and improvement LINDSAY RURAL … 26
Slide 31: Divisional Performance
Divisional Performance For personal use only 92,000 6,000 90,000 5,000 88,000 86,000 4,000 84,000 82,000 3,000 80,000 2,000 78,000 76,000 1,000 74,000 72,000 0 FY09 FY10 FY11 FY12 FY13 FY14 Total Divisional Sales inc Inter‐Segment Sales Divisional Profit LINDSAY RURAL 27
Slide 32: Dividends
For personal use only Dividends
Slide 33: Dividends
Dividends For personal use only The company’s dividend re-investment plan continues in force. An interim dividend has been maintained at the same level with a fully franked dividend of 1.1 cents per share declared on 20 February 2015. 2.50 2.00 1.50 1.00 0.50 0.00 FY08 FY09 FY10 FY11 FY12 FY13 FY14
Slide 34: Appendices
For personal use only Appendices
Slide 35: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income Half Year Ended 31 th December 2014 For personal use only H1 FY15 H1 FY14 $’000 $’000 Revenues 160,977 160,292 Other income 106 101 161,083 160,393 Expenses Changes in inventories 3,957 2,334 Purchase of inventories (42,901) (38,183) Employee benefits e
Slide 36: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position Half Year Ended 31 th December 2014 For personal use only 1H FY15 2H FY14 $’000 $’000 Current assets Cash and cash equivalents 6,594 17,152 Trade and other receivables 43,653 42,565 Inventories 17,058 13,291 Other 1,610 4,854 Total current assets 68,915 7
Slide 37: Consolidated Statement of Financial Position Cont.
Consolidated Statement of Financial Position Half Year Ended 31 th December 2014 Cont. For personal use only 1H FY15 2H FY14 $’000 $’000 Current liabilities Trade and other payables 25,009 26,061 Borrowings 23,425 25,213 Current tax liabilities 3,434 2,257 Provisions 5,916 5,455 Other 320 1,402 Tota
Slide 38: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Half Year Ended 31 th December 2014 For personal use only H1 FY15 H1 FY14 $’000 $’000 Cash flows from operating activities Receipts in course of operations 174,712 174,550 Payments to suppliers and employees (161,883) (161,321) Interest received 413 328 Finance c
Slide 39: For personal use only
For personal use only www.lindsayaustralia.com.au 44b Cambridge Street, Rocklea QLD 4108 07 3240 4900