Reliance Worldwide Corp. Ltd. · ASX:RWC
Reliance Worldwide — Shareholder Meeting (October 2024)
21 slides from Reliance Worldwide's shareholder meeting presentation, Oct 24, 2024
Slide 1: 2024 Annual General Meeting
2024 Annual General Meeting 24 October 2024 RELIANCE WORLDWIDE CORPORATION LIMITED ABN 46 610 855 877
Slide 2: Important Notice
Important Notice This presentation contains general information about the activities of Reliance Worldwide Corporation Limited and its operating businesses at the date of presentation (24 October 2024). It is information given in summary form and does not purport to be complete. It should be read in
Slide 3: RWC Board of Directors
RWC Board of Directors Stuart Crosby Heath Sharp Christine Bartlett Russell Chenu Non-Executive Chairman Chief Executive Officer Independent Non-Executive Independent Non-Executive Director Director Darlene Knight Ian Rowden Brad Soller Independent Non-Executive Independent Non-Executive Independent
Slide 4: Chairman's address
Chairman’s address Stuart Crosby 4
Slide 5: FY24 Financial Highlights
FY24 Financial Highlights All figures in US$ Net sales +0.2% growth overall1 $1,245.8 -2.4% excluding Holman million -5.7% on pcp Adjusted NPAT $23 million in cost savings $146.9 partly mitigated impact of million lower volumes In line with pcp Adjusted EBITDA Underlying Adjusted EBITDA $274.6 margi
Slide 6: Balance sheet strengthened through net debt reduction
Balance sheet strengthened through net debt reduction Debt metrics US$m 30-Jun-24 30-Jun-23 Cash and cash equivalents 19.9 16.6 Gross debt 441.0 451.7 Net debt1 421.1 435.0 Net debt / EBITDA2 1.59x 1.69x 1 Net debt excludes lease liabilities 2 6 Net debt/12-month trailing EBITDA
Slide 7: FY24 Shareholder Distributions
FY24 Shareholder Distributions FY24 Interim FY24 Final FY24 Total FY23 Total US$m CPS US$m CPS US$m CPS US$m CPS Total Distribution Amount 35.6 4.5 39.3 5.0 74.9 9.5 75.1 9.5 - Dividend 17.8 2.25 19.6 2.5 37.4 4.8 75.1 9.5 - On-market Share Buyback 17.8 2.25 19.6 2.5 37.4 4.8 - - Dividend Paid/Payab
Slide 8: RWC Board Committee Chairs
RWC Board Committee Chairs Darlene Knight Brad Soller Christine Bartlett Ian Rowden Chair – Health & Safety Chair – Audit & Risk Chair – Nomination & Chair – ESG Committee Committee Committee Remuneration Committee (from 24 October 2024) 8
Slide 9: Health & Safety
Health & Safety Recordable Injury Frequency Rate1 7.0 6.24 6.08 6.0 5.49 5.17 5.0 4.0 3.0 2.62 2.0 1.0 0.0 FY20 FY21 FY22 FY23 FY24 1 All recorded lost time injuries plus other injuries requiring 9 medical treatment per one million hours worked
Slide 10: ESG FY24 Highlights
ESG FY24 Highlights GHG Scope 1 & 2 Results 50,000 45,000 40,000 Target Progress Net Zero by 35,000 42% 35% Emissions (tCO2-e) 30,000 25,000 by 2030 in FY24 2050 20,000 15,000 10,000 5,000 0 FY21 FY22 FY23 FY24 Scope 1 Scope 2 Target Line 10
Slide 11: Remuneration
Remuneration ▪ The remuneration market for CEOs in the US has moved significantly since 2021, particularly for LTI awards ▪ A review of CEO remuneration arrangements, including LTI opportunity in FY23, resulted in several changes to RWC’s LTI framework ▪ US and Australian external consultants provid
Slide 12: CEO's address
CEO’s address Heath Sharp 12
Slide 13: FY24 Overview
FY24 Overview Strong execution offset soft residential new construction and remodel markets Holman Progress with acquisition group-wide Successful new operational Strong financial completed and product rollouts projects that performance integration with boosted will underpin RWC well performance fut
Slide 14: Segment results: Americas
Segment results: Americas Strong operating earnings growth Americas Americas Half Year Revenue Trend (US$m) Net External Sales US$m FY24 FY23 % Change Net Sales 877.7 890.1 (1.4%) 400 1,2 Adjusted EBITDA 184.3 159.5 15.5% FY23 Adjusted EBITDA margin (%) 21.0% 17.9% 310bps FY24 300 Adjusted EBIT1,2 1
Slide 15: Segment results: Asia Pacific
Segment results: Asia Pacific Transfer of SharkBite manufacturing to the US impacted volumes and margins Asia Pacific APAC Half Year Revenue Trend (A$m) Net External Sales4 A$m FY24 FY23 % Change 100 Net Sales 290.1 282.7 2.6% 80 Adjusted EBITDA1,2 33.3 47.2 (29.4%) 60 FY23 Adjusted EBITDA margin (%
Slide 16: Holman overview
Holman overview Two major revenue categories: Plumbing and Watering Plumbing Watering 16 Source: Holman management reports and RWC analysis; Excludes NZ business.
Slide 17: Segment results: EMEA
Segment results: EMEA Margins impacted by lower volumes in UK and Continental Europe EMEA EMEA Half Year Revenue Trend (£$m) £M FY24 FY23 % Change Net External Sales Net Sales 209.4 226.0 (7.3%) 100 Adjusted EBITDA1,2 61.3 72.9 (15.9%) FY23 FY24 50 Adjusted EBITDA margin (%) 29.3% 32.3% (300bps) Adj
Slide 18: FY25 First Half Outlook: guidance maintained
FY25 First Half Outlook: guidance maintained1 Group Prior Guidance Current Guidance Status External Sales Expected to be broadly flat, within a range of up or down by Unchanged low single digit percentage points on pcp (excluding Holman and Supply Smart) Operating Margin Improvement in consolidated
Slide 19: Strategic growth initiatives
Strategic growth initiatives Global strategy, local execution Americas: Commercial Growth across three areas Residential repair & plumbing through a Larger remodel and remodel through combination of new residential new continued channel product development construction partner expansion and bolt-on
Slide 20: Our Focus for FY 2025
Our Focus for FY 2025 Execution excellence Focus area Activity Target Outcome ▪ Keep safety our No.1 priority ▪ Everyone safe, every day People, Safety & Culture ▪ Progress our ESG priorities ▪ Positive impact on our people, our communities and the environment ▪ Continual focus on delivery performan
Slide 21: Plumbing matters. We make it better.
Plumbing matters. We make it better.
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