Clover Corporation Limited · ASX:CLV
Clover — Investor Presentation (October 2021)
15 slides from Clover's investor presentation, Oct 28, 2021
Slide 1: Select Equities Presentation
For personal use only Clover Corporation Limited Select Equities Presentation 28 October 2021
Slide 2: Vision, Values and Purpose Statement
Vision, Values and Purpose Statement For personal use only Vision To optimise the health and development of adults, infants and children. Values Respect, Response, Responsibility Purpose In collaboration with key market participants, Clover develops customised high value nutritional ingredients that
Slide 3: Full Year FY'21 Performance Highlights
Full Year FY’21 Performance Highlights Total full year Revenue New products continuing to For personal use only be developed to move $60.5m down 32.0% on forward in new segments and FY20 $88.3m driven by markets reduced demand Inventory at $30.8m Net Profit $6.0m down $1.1m on FY20 full year
Slide 4: COVID-19 Update
COVID-19 Update For personal use only Clover has managed the business to a COVID-19 safe plan with the focus on the health and safety of our employees, customers and suppliers Customer demand has been curtailed by COVID-19 conditions Clover maintains a relatively high inventory position to act
Slide 5: Sales by Geography
Sales by Geography EU Sales A$000 For personal use only 14,000 12,000 Europe 10,000 European sales have been slowed by COVID-19 8,000 6,000 restrictions and general activity in the market 4,000 European infant formula manufacturers have 2,000 reduced sales into China 0 2016 2017 2018 2019 2020 2
Slide 6: Full Year 2021 Results
Full Year 2021 Results 32% year on year revenue decline For personal use only Pantry stacking of FY20 and AUD million 4E Reported 4E Reported ongoing COVID-19 restrictions in 31 Jul 2021 31 Jul 2020 FY21 leading to lower volumes and revenue decline. Revenue $60.5 $88.3 EBITDA $9.5 $18.9 3% Mar
Slide 7: Balance Sheet July 2021
Balance Sheet 31 July 2021 For personal use only AUD Reported Reported 31 Jul 2021 $M 31 Jul 2020 $M Movement $M Cash balance strong $9.1m Cash 9.1 9.2 (0.1) Trade Receivables 13.3 16.8 (3.5) Trade receivables down on FY21 sales Inventories 30.8 31.9 (1.1) against FY20 strong Total Current Asset
Slide 8: Melody Dairies- New Zealand
Melody Dairies- New Zealand For personal use only Clover has 42% ownership of a spray drying facility in Hamilton, New Zealand The factory had a delayed start up in FY21 due to COVID-19 delays in construction, accreditation and customer acceptance testing Clover has been impacted by its share
Slide 9: An Update on Growth Platforms
An Update on Growth Platforms For personal use only Focus on Infant Formula New New Product Market Development Development 8
Slide 10: Growth Platforms: Market Development - Diversification
G r o wt h P l a t f o r ms Market Development- Diversification For personal use only 9
Slide 11: Growth Platforms: Product Development - Applications
G r o wt h P l a t f or ms Product Development - Applications For personal use only Gummies (Hypoallergenic 50% fish oil concentrate powder): 200mg DHA / 9 grams serve Sports bars (Driphorm 60% fish oil concentrate powder): 250mg / 30gram bar Extended shelf-life dairy base drink (Driphorm 50% algal
Slide 12: Growth Platforms: Chinese Infant Formula - GB Standard
G r o wt h P l a t f o r ms Chinese Infant Formula – GB Standard For personal use only Under the new GB, DHA and ARA are still optional Ingredients However, If DHA is added, level should meet below requirements Minimum DHA level in Stage-3 (12 -36 month products) The new standard applies Feb
Slide 13: Growth Platform: Focus on Infant Formula
Focus on Infant Growth Platform For personal use only Formula Infant formula provides new opportunities Clover has established direct customer contact in China and aligned with new distributors capable of winning business China’s legislation requiring infant formula to contain a min 15mg/100Kcal
Slide 14: 1HFY22 Outlook & Priorities
1HFY22 Outlook & Priorities The health & safety of employees, customers and suppliers remains our focus For personal use only Supply chain challenges are a focus on obtaining raw materials and ensuring our customers are well serviced Re-engaging with customers to progress the new product and a
Slide 15: Disclaimer
Disclaimer For personal use only The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe s