Joyce Corporation Ltd · ASX:JYC
Joyce — Investor Presentation (February 2021)
16 slides from Joyce's investor presentation, Feb 26, 2021
Slide 1: Financial Year 2021 Half-Year Results
FINANCIAL YEAR 2021 HALF-YEAR RESULTS SIGNIFICANT GROWTH ACROSS THE BUSINESS February 2021
Slide 2: Strong Half Year with Record Results
JOYCE CORPORATION STRONG HALF YEAR WITH RECORD RESULTS Multiple Highlights Across the Group $52.8m $7.6m Revenue Group NPAT • Significant uplift in cash position, profit and dividend for first #16% on 1H20 #119% on 1H20 half of FY 30 June 2021. • Robust consumer demand and higher sales levels conver
Slide 3: Company Structure
JOYCE CORPORATION COMPANY STRUCTURE Flow of Economic Interest into Joyce Corporation • Fast-growing ASX-listed company invested in and operating quality 51% Majority Interest in Net Profit Australian businesses with attributable to JYC Shareholders exciting organic growth potential. KWB • Committed
Slide 4: Results Overview: Returns to Shareholders
RESULTS OVERVIEW RETURNS TO SHAREHOLDERS Increasing Returns to Shareholders Share Price (daily close ($)) 2.3 Joyce Corporation FY21 FY20 FY20 Total FY19 Total FY18 Total Interim Interim 2.1 Dividend (cents) 7.0 5.0* 10.0 11.7 11.0 1.9 NPAT - continuing 1.7 4,806 1,560 (1,107) 3,281 3,380** operatio
Slide 5: Key Financial Performance Metrics
RESULTS OVERVIEW KEY FINANCIAL PERFORMANCE METRICS Multiple Highlights Across the Businesses Revenue growth driven by strong consumer demand 1HY21 1HY20 Variance Variance Joyce Corporation Consolidated Results ($’000) ($’000) ($) (%) Revenue growth complimented Revenue (from continuing operations) 5
Slide 6: Key Financial Position Metrics
RESULTS OVERVIEW KEY FINANCIAL POSITION METRICS Strong Balance Sheet – Platform for Growth Increase in profitability - direct improvement in operating Joyce Corporation Consolidated Results Dec 20 Jun 20 Dec 19 cashflow ($12.9m vs $3.0m) Closing Group Cash 18,203 10,643 1,881 Debt (5,521) (5,751) (6
Slide 7: KWB Group Review
KWB GROUP REVIEW RECORD TURNOVER AND PROFITABILITY
Slide 8: KWB Group: Proven Track Record of Growth
KWB GROUP PROVEN TRACK RECORD OF GROWTH IN REVENUE AND NET PROFIT Revenue & NPBT ($m) Net Profit Before Tax (LHS) Revenue Trend (RHS) Record order book for six-month 9.00 42.00 period converted to record 40.00 revenue for the period 8.00 38.00 7.00 36.00 Continued strength of Order Book 34.00 provid
Slide 9: KWB Group Snapshot
KWB GROUP SNAPSHOT STRENGTHENING THE BRAND AND GROWING THE FOOTPRINT 23 Company Owned Showrooms with plans for continued growth Three new showrooms successfully opened in NSW with strong trading during the half-year: • Tweed Heads • Tuggerah Lakes • Castle Hill 14 Kitchen Connection & Wardrobe Conne
Slide 10: Bedshed Review
BEDSHED REVIEW GROWTH ACROSS FRANCHISED AND COMPANY OWNED OPERATIONS
Slide 11: Bedshed: Positive Trading Momentum Continues
BEDSHED POSITIVE TRADING MOMENTUM CONTINUES Segment Revenue $m (1HY21 vs 1HY20) Consistent improvement in performance across the Bedshed Bedshed Franchising network +24% Strong franchisee engagement Bedshed Company- owned Stores and support of the business +39% strategy Supply chain resilience suppo
Slide 12: Bedshed: Positive Trading Momentum Continues
BEDSHED POSITIVE TRADING MOMENTUM CONTINUES Multiple franchise agreements renewed Revenue & NPBT ($m) - Franchise Net Profit Before Tax (LHS) Revenue Trend (RHS) 1.80 4.50 National sponsorship of I’m A Celebrity Get Me Out of Here 1.60 4.00 1.40 3.50 Launch of new brand campaign - authentic bedroom
Slide 13: Outlook for Future Growth
OUTLOOK FOR FUTURE GROWTH PERFORMANCE OF KWB AND BEDSHED AND STRENGTH OF BALANCE SHEET UNDERPIN GROWTH POTENTIAL KWB Joyce Corporate Significant potential to expand footprint: Strong balance sheet with $12.9M net cash • Near term Network Expansion in NSW underpins growth potential • Longer term oppo
Slide 14: Corporate Directory
CORPORATE DIRECTORY Top 20 JYC Shareholders - 24 February 2021 Rank Name Units % Units BOARD OF DIRECTORS 1 ADAMIC PTY LTD 7,711,568 27.38 2 UFBA PTY LTD 2,075,000 7.37 Jeremy Kirkwood - Non-executive Chair 3 PEDUNCLE PTY LTD 1,948,312 6.92 4 ONE MANAGED INVT FUNDS LTD <1 A/C> 1,000,000 3.55 Karen G
Slide 15: References
REFERENCES This announcement should be read in conjunction with the following documents lodged with the ASX on 26 February 2020 under the ASX ticker JYC: • Half-year report for the period ended 31 December 2020; • Appendix 4D; • Dividend/distribution; and • Financial year 2021 half-year results - in
Slide 16: Disclaimer
DISCLAIMER INFORMATION CONTAINED IN THIS PRESENTATION MAY INVOLVE FORWARD LOOKING STATEMENTS, INCLUDING POSSIBLE FUTURE PERFORMANCE ESTIMATES, ESTIMATED EARNINGS, POTENTIAL GROWTH OF THE COMPANY OR ITS INDUSTRY OR OTHER PROJECTIONS. WHILST “JYC” BELIEVES THESE ARE REASONABLE AT THE TIME OF PRINTING,