Slide 1: Interim results to 30 November 2013
NWF Group plc Interim results to 30 November 2013
Slide 2: Group overview: Key highlights
NWF Group plc | Interim results to 30 November 2013 Group overview Key highlights ! Record first half year for the Group ! Feeds increased volumes ! All divisions performing in line with Board expectations ! Food completed Deeside transfer and cost reduction plan ! Completed Agri acquisition in line
Slide 3: Operational highlights: Fuels
NWF Group plc | Interim results to 30 November 2013 Operational highlights Fuels ! Significant improvement ! Effective balance of commercial and domestic business ! New gas oil products ! 17 low cost independent depots fully manned and performing as planned ! Improved working capital management ! Lo
Slide 4: Operational highlights: Food
NWF Group plc | Interim results to 30 November 2013 Operational highlights Food ! Market conditions remain tough ! Customers stock levels high ! Outloads 3% higher ! Successfully transferred customers from Deeside to Wardle ! Continued strong service performance at 99.6% ! Signed significant long te
Slide 5: Operational highlights: Feeds
NWF Group plc | Interim results to 30 November 2013 Operational highlights Feeds ! Robust performance ! Increased focus on direct sales to farmers (up 10%) ! Investment in sales and marketing delivering new business ! Commodities prices declined marginally over H1 ! Good quality silage and strong mi
Slide 6: Financial review – income statement summary
NWF Group plc | Interim results to 30 November 2013 Financial Review Financial review – income statement summary Nov 2013 Nov 2012 Growth May 2013 £m £m % £m Revenue Food 18.5 18.9 (2.1%) 36.4 Feeds 68.4 66.2 3.3% 153.1 Fuels 172.2 171.4 0.5% 356.3 Total revenue 259.1 256.5 1.0% 545.8 Operating prof
Slide 7: Financial review – balance sheet summary
NWF Group plc | Interim results to 30 November 2013 Financial Review Financial review – balance sheet summary Nov 2013 Nov 2012 May 2013 £m £m £m Fixed assets 54.0 49.6 48.8 Net working capital 13.3 10.1 9.2 Assets employed 67.3 59.7 58.0 Pension deficit (17.0) (16.9) (18.8) Net debt (16.8) (13.7) (
Slide 8: Net debt summary
NWF Group plc | Interim results to 30 November 2013 Financial Review Net debt summary ! Debt Summary 18.0 Movement in Net Debt ! Committed facilities of £55.0m with RBS until 16.0 Oct 2015 14.0 6.0 ! In addition £7m of HP finance is available 12.0 Facility Facility Drawn 10.0 2.4 £m Invoice Discount
Slide 9: Financial review – cash flow summary
NWF Group plc | Interim results to 30 November 2013 Financial Review Financial review – cash flow summary Nov 2013 Nov 2012 £m £m Cash flows from operating activities Operating profit 3.6 2.8 Depreciation of property, plant and equipment 1.5 1.5 Working capital (3.0) (0.6) Other (0.2) (0.2) Operatin
Slide 10: Development strategy: Fuels
NWF Group plc | Interim results to 30 November 2013 Development strategy Fuels ! Third largest fuel distributor in the UK ! Low cost depot operating model provides competitive advantage ! Network built by acquisition with good record of integration ! Good long term business track record ! Low ROS, h
Slide 11: Development strategy: Food
NWF Group plc | Interim results to 30 November 2013 Development strategy Food ! Market for ambient groceries remains stable ! Competitive environment working with large food manufacturers and supermarkets ! Key value delivered to customers ! High levels of service ! Low cost ! Boughey has a signific
Slide 12: Development strategy: Feeds
NWF Group plc | Interim results to 30 November 2013 Development strategy Feeds ! Agriculture is an attractive market for the Group ! Population growth & food security underpins stable, growing markets ! Represents the heritage of NWF and a good base has been established to date ! NWF growing No. 2 r
Slide 13: Summary & outlook
NWF Group plc | Interim results to 30 November 2013 Group overview Summary & outlook ! Record half year for the Group ! Strong & experienced operational management ! All divisions in line with Board expectations ! Strong cash generation and progressive dividend policy ! Supporting strategy with Agri
Slide 14: Additional information
NWF Group plc | Interim results to 30 November 2013 Group overview Additional information ! Business backgrounds ! Locations ! Organisation ! Main site photo ! Five year financial performance ! Ten year divisional track record ! Additional market data 14
Slide 15: Business background: Feeds
NWF Group plc | Interim results to 30 November 2013 Business background Feeds Supply of feed to ruminants in the UK – principally dairy ! National player – feed one in seven dairy cows in the UK, number two in the market ! 560,000 tonnes produced ! Feed dairy, beef and sheep ! Sell added value produ
Slide 16: Business background: Food
NWF Group plc | Interim results to 30 November 2013 Business background Food Consolidation of ambient grocery products to UK supermarkets ! 115,000 pallet spaces ! 900,000ft2 of warehousing in Wardle and Deeside (North West) ! Market leader in the North West ! 423 people ! 106 trucks, 216 trailers !
Slide 17: Business background: Fuels
NWF Group plc | Interim results to 30 November 2013 Business background Fuels Supply of fuels and fuel cards to commercial, domestic and retail customers across the UK ! Third largest distributor in the UK ! 38,000 customers ! 197 people ! 17 depots across the UK ! Supply 76 retail petrol stations !
Slide 18: Locations
NWF Group plc | Interim results to 30 November 2013 Group overview Locations Feeds Ayr Penrith Stone Wardle* Wixland Food Deeside Wardle* Fuels Acle Ammanford Babbinswood Bangor Stone Boston Burnley Burwell Droitwich Dyserth Kenilworth Kingsbury Long Marston NoAngham Southampton Stoke Wardle* Yate 1
Slide 19: Additional information: management and directors
NWF Group plc | Interim results to 30 November 2013 Group overview Additional information Chief Executive Non-Executive Directors Richard Whi0ng Mark Hudson (Chairman) David Southworth Yvonne Monaghan Philip Acton Finance Director Company Secretary Brendon Banner Rob Andrew Food Feeds Fuels Managing
Slide 20: Wardle: Group head office and main operating site
NWF Group plc | Interim results to 30 November 2013 Group overview Wardle: Group head office and main operating site 20
Slide 21: Five year financial performance
NWF Group plc | Interim results to 30 November 2013 Group Overview Five year financial performance Revenue Headline EPS 600 14 12 500 10 £m 8 p 400 6 4 300 2 200 0 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Headline PBT DPS 9 6 8 5 7 6 4 5 £m p3 4 3 2 2 1 1 0 0 2009 2010 2011 2012 2013 2009 2
Slide 22: Divisional track record
NWF Group plc | Interim results to 30 November 2013 Group Overview Divisional track record Feeds Foods 180 50 3.5 4.0 160 45 3.0 3.5 140 40 3.0 35 2.5 120 Revenue £m Revenue £m 2.5 30 2.0 PBIT £m PBIT £m 100 2.0 25 80 1.5 20 60 1.5 15 1.0 40 1.0 10 20 0.5 0.5 5 0 0.0 0 0.0 2004 2005 2006 2007 2008 2
Slide 23: Fuels additional market data
$ 0 10 20 30 40 50 60 70 80 90 100 110 120 130 01/06/2012 15/06/2012 29/06/2012 13/07/2012 Group overview 27/07/2012 10/08/2012 24/08/2012 07/09/2012 21/09/2012 Fuels additional market data 05/10/2012 19/10/2012 02/11/2012 16/11/2012 30/11/2012 14/12/2012 28/12/2012 11/01/2013 25/01/2013 08/02/2013
Slide 24: Feeds additional market data
Price&per&tonne& Price&per&tonne&£& 02 /0 1 200# 250# 300# 350# 400# 450# 500# 550# 600# 0" 25" 50" 75" 100" 125" 150" 175" 200" 225" 250" 16 /201 /0 1 3# 02/01/2013" 30 /201 /0 14/01/2013" 1 3# 13 /201 /0 2 3# 26/01/2013" 27 /201 /0 07/02/2013" 2 3# 13 /201 /0 19/02/2013" 3 3# 27 /201 03/03/2013"