Noumi Limited · ASX:NOU
Noumi — Investor Presentation (February 2024)
27 slides from Noumi's investor presentation, Feb 27, 2024
Slide 1: Noumi Limited H1 FY24 Results
Noumi Limited H1 FY24 Results 27 February 2024
Slide 2: Important notice and disclaimer
Important notice and disclaimer Summary Information Only This presentation criteria contains general information about Noumi Limited and its consolidated entities (“Noumi Limited”) and its activities current as at the date of this presentation. It is provided in summary and does not purport to be co
Slide 3: Agenda
Agenda H1 FY24 OVERVIEW 01 COMPANY EVOLUTION 02 FINANCIAL PERFORMANCE 03 STRATEGY 04 CLOSING REMARKS 05 Noumi Limited H1 FY24 Results 3
Slide 4: H1 FY24 Overview
H1 FY24 Overview Noumi Limited H1 FY24 Results 4
Slide 5: Improved revenue and earnings growth
Improved revenue and earnings growth Reset, Transform, Grow strategy delivers across the board performance improvements. Adjusted operating EBITDA of $23.1m up 35.2% on H1 FY23 Plant-based Milks delivers record adjusted operating EBITDA of $23.1m up 6.1% Market leading Milklab brand continues to gro
Slide 6: Highlights
Highlights $23.1m $2.2m $23.1m Adj Op Dairy & Nutritionals Plant-based Milks EBITDA 1,2 Adj Op EBITDA Adj Op EBITDA $6.0m $4.1m $1.3m $296.7m $209.2m $87.5m Net Dairy & Nutritionals Plant-based Milks Revenue Net Revenue Net Revenue $16.9m $11.2m $5.6m ($27.7m) Statutory net loss after tax $4.1m 1. A
Slide 7: Company's Transformation and Evolution
Company’s Transformation and Evolution Noumi Limited H1 FY24 Results 7
Slide 8: Focusing on Growth into the future years
Focusing on Growth into the future years FY21-22 FY22-23 FY23-25 RESET TRANSFORM GROW The financial, structural, operational Actions to Transform the Company Those improvements provide the and cultural Reset of the Company continue, with operational improvements springboard to Grow the business was
Slide 9: Executing against the strategy
Executing against the strategy Reset progress – Remaining reset items are the two legacy matters that are being dealt with in line with the usual timetables Transformation progress – Dairy and Nutritionals delivered an encouraging improvement in its performance, with adjusted operating EBITDA in H1
Slide 10: Noumi – Key manufacturing sites
Noumi – Key manufacturing sites Dairy & Nutritionals Plant-based Milks Shepparton, VIC Ingleburn, NSW • Noumi Nutritionals is a leading Australian • Our state-of-the-art facility in Ingleburn, manufacturer of quality long-life dairy New South Wales specialises in the products and premium protein ing
Slide 11: Noumi Brands
Noumi has a broad portfolio of strong Noumi Brands brands that meet differing consumer needs and occasions across multiple markets. 11
Slide 12: Financial Performance
Financial Performance Noumi Limited H1 FY24 Results 12
Slide 13: H1 FY24 Financial Performance
H1 FY24 Financial Performance $ million H1 FY24 H1 FY23 Change Change Net Revenue growth includes domestic dairy contract manufacturing and Net Revenue 296.7 279.8 16.9 6.0% Milklab growth Adj Operating EBITDA1 23.1 17.1 6.0 35.2% Adjusted operating EBITDA $23.1m – improvement across both segments A
Slide 14: Financial Performance | Plant-based Milks
Financial Performance | Plant-based Milks Financial results Summary of performance $ million H1 FY24 H1 FY23 Change Change Net Revenue 87.5 81.9 5.6 6.9% Record earnings, record revenues, strong margins Adjusted Operating EBITDA1,2 23.1 21.8 1.3 6.1% Adjusted Operating EBITDA Margin % 26.5 26.6 - (0
Slide 15: Financial Performance | Dairy and Nutritionals
Financial Performance | Dairy and Nutritionals Financial results Summary of performance $ million H1 FY24 H1 FY23 Change Change Positive adjusted operating EBITDA in H1 FY24 of $2.2m. $4.1m Net Revenue 209.2 198.0 11.2 5.7% improvement on H1FY23 adjusted operating EBITDA Net Revenue excl. traded mil
Slide 16: Cash Flow
Cash Flow Summary $ million 31 Dec 2023 31 Dec 2022 Cash flow from continuing operations 10.0 18.4 Net cash flow from operations impacted by timing of drawdown limited recourse debtor finance facility Net finance costs (9.4) (9.3) Property plant and equipment (2.2) (2.0) Active working capital manag
Slide 17: Strategy
Strategy Noumi Limited H1 FY24 Results 17
Slide 18: Our Growth Strategy
Our Growth Strategy Develop high quality and innovative dairy and plant products to meet the different nutrition and taste needs of customers and consumers across life stages Complete the Accelerate Deliver Embed Strategic Future Growth Pillars Dairy & Nutritionals Plant–based Milks world class High
Slide 19: Strategy | Plant-based Milks
Strategy | Plant-based Milks Focus Areas Continue to invest in marketing to strengthen Milklab and Australia’s Own brand equity Continue to invest in growing Milklab in its core out-of-home channel through its advantaged portfolio of plant and dairy milks Expand Milklab into new consumer occasions A
Slide 20: Strategy | Dairy and Nutritionals
Strategy | Dairy and Nutritionals Focus Areas Continued focus on service and quality with improved supply chain Driving operational efficiencies to protect margin and reduce wastage Focus on delivering high specification PUREnFERRIN for high valued markets Strengthen the Australia’s Own and Milklab
Slide 21: The Healthier Tomorrow Plan
althier plane The Healthier e H t Tomorrow Plan We aim to continuously improve our environmental hier lifesty footprint for future generations. alt l Focus areas He Waste and Packaging es We aim to create • We are minimising the waste we products to improve generate, maximising recyclable consumers’
Slide 22: Trading Outlook
Trading Outlook Plant-based Milks Dairy and Nutritionals Consolidate and embed established in grow phase shows significant progress to date improvement – yet to Invest in expanding Milklab Execute consistently against progress to the grow phase in Australia and overseas the strategy Focus on domesti
Slide 23: Q&A
Q&A Noumi Limited H1 FY24 Results2
Slide 24: Appendices
Appendices Noumi Limited H1 FY24 Results 24
Slide 25: Post-AASB to Pre-AASB Bridge
Post-AASB 16 to Pre-AASB 16 Bridge …transition to reporting post AASB 16 31 December 2023 31 December 2022 Post Pre Post Pre $ million AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 Plant-based Milks Net Revenue 87.5 - 87.5 81.9 - 81.9 Operating expenses (64.4) (3.2) (67.6) (60.1) (3.2) (63.3) EBIT
Slide 26: Profit and Loss Summary
Profit and Loss Summary Significant items impacting EBITDA2 $ million 31 Dec 2023 31 Dec 2022 31 Dec 2023 31 Dec 2022 1 Adjusted operating EBITDA 23.1 17.1 Onerous contracts provision - 4.0 2 Significant items impacting EBITDA (0.1) (0.1) Restructuring expenses - (2.5) Adjusted EBITDA 23.0 17.0 Othe
Slide 27: Noumi – Imagining a healthier tomorrow
noumi Imagining a healthier tomorrow