Slide 1: FY 2014 Results
For personal use only FY 2014 Results Res lts 24 September 2014
Slide 2: Vision and Mission Statement
For personal use only VISION AND MISSION STATEMENT • Vision: To optimise the health and development of infants and children. Mission: To deliver science based bioactives to the global infant, children and medical food markets that provide health benefits. 2
Slide 3: FY2014 Results
FY2014 RESULTS For personal use only AUD million 4E Reported 4E Reported 4E Reported 4E Normalised* 31 July 2014 31 July 2013 31 July 2012 31 July 2012 Revenue $27 2 $27.2 $44 1 $44.1 $38 4 $38.4 $38 4 $38.4 Profit before tax $1.2 $8.5 $6.4 $7.4 EBITDA $1.6 $8.8 $6.7 $7.9 EBIT $1.1 $8.3 $6.2 $7.4 Ta
Slide 4: Balance Sheet
BALANCE SHEET For personal use only 31 July 2014 AUD million Reported Reported Movement 31 July 2014 31 July 2013 0.3È Cash $8 0 $8.0 $8 3 $8.3 5.1È Trade Receivables $6.9 $12.0 5Ç Inventories $16.5 $14.0 2.5 1.8È Total Current Assets $32.9 $34.7 0.4È PPE/Intangible Assets $4.9 $5.3 2.0È Total Asset
Slide 5: Cash Flow
CASH FLOW For personal use only Year ended 31 July 2014 AUD million Reported From Operations 31 July 2014 EBITDA $1.6 Working Capital Movement $3.5 Net Interest $0 1 $0.1 Tax Paid ($2.0) Cash Flow from Operations $3.2 Financing Activities ($3.3) Capex ($0.2) N tC Net Cash h Fl Flow ($0 3) ($0.3) 5
Slide 6: FY2014 Key Items
For personal use only FY2014 KEY ITEMS • Significant negative revenue impact NZ WPC (-38.3% PCP) • Some recovery evident CY14 Q3 • Oceania and Asia remain key geographic sales regions • Derivative powder products gaining traction • Continued gross margin pressure, down to 29.0% (PCP 35.1%) • Fixed c
Slide 7: Delivery Systems Based on a Variety of Nutritional Bioactives
DELIVERY SYSTEMS BASED ON A VARIETY OF NUTRITIONAL BIOACTIVES For personal use only • Product portfolio includes encapsulated Sales Revenue based on powders containing marine oil, algal oils, Diversified Bioactives in FY2014 other specialty oils and important micronutrients • Encapsulation technolog
Slide 8: Sales by Geography/Product
SALES BY GEOGRAPHY/PRODUCT For personal use only FY2014 Geographic • Continued strong presence though Oceania and Asia Australia/New Zealand 22% Asia 58% • Encapsulation technology strong and proven Europe 14% Americas 6% FY2014 Products Oil 4% Encapsulated Powders 96% 8
Slide 9: Research & Development Expenditure
RESEARCH & DEVELOPMENT EXPENDITURE For personal use only Targeted expenditure aimed at developing high margin new product opportunities whilst continuing to develop million ($) the strong existing customer relationships 2.5 # 2.0 * 1.5 15 1.0 0.5 0.0 FY09 FY10 FY11 FY12 FY13 FY14 FY15 R&D Expenditur
Slide 10: Growth Objectives
For personal use only GROWTH OBJECTIVES • Continued focus on the infant formula market – Specialist delivery systems – Developing new markets/applications – Improved bioactive protection • Develop medical food program – Product pipeline to improve the health of preterm infants – Major clinical trial
Slide 11: FY2015 Outlook & Priorities
For personal use only FY2015 OUTLOOK & PRIORITIES • Work with existing customers to regain lost revenue • Continued organic growth with emphasis on Oceania, Oceania Asia and Europe • Investment in NZ spray dryer to partner with customers to supply new sources of oil to address new market opportuniti
Slide 12: Thank You
For personal use only THANK YOU Questions? 12
Slide 13: Disclaimer
For personal use only DISCLAIMER 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