Slide 1: Company Update
Automation + Robotics Company Update Chris Hopkins, CEO April 2018
Slide 2: Performance highlights for the six months to 28 February 2018
Performance highlights for the six months to 28 February 2018 Recorded income of $67.5m – up 19% on 2017 Delivered Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of $6.4m – up 25% on 2017 Net Profit Before Tax of $4.8m – up 13% on 2017 (affected by a higher amortisation charge
Slide 3: Result summary
Result summary 1H16 1H17 1H18 Change $000 $000 $000 Australasia 33,533 45,091 47,367 +5% Amercias 8,184 6,263 11,381 +82% Asia/Europe 1,099 5,316 8,724 +64% Sales 42,816 56,670 67,472 +19% EBITDA 4,023 5,103 6,390 +25% margin 9.4% 9.0% 9.5% Depreciatio n & amo rtisatio n 848 1,205 1,772 +47% EBIT 3,
Slide 4: Revenue bridge 1H17 to 1H18
Revenue bridge 1H17 to 1H18 ($000’s) 70,000 60,000 5,118 3,408 2,276 50,000 67,472 40,000 30,000 56,670 20,000 10,000 0 1H17 rev Australasia Asia/Europe Americas 1H18 rev
Slide 5: NPBT bridge 1H17 to 1H18
NPBT bridge 1H17 to 1H18 ($000’s) 6,000 567 902 146 5,000 171 118 277 398 4,000 4,760 3,000 2,000 4,211 1,000 0 1H17 NPBT Australasia Amercias Asia/Europe Dep & Amort JV net surplus Net interest Admin & FX 1H18 NPBT
Slide 6: XXX
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Slide 7: Ten year revenue growth profile
Ten year revenue growth profile First half 2018 growth rates are consistent with long run trends 10 year rev CAGR 20% 5 year rev CAGR 21% 3 year rev CAGR 35% Bladestop 140,000 Oct 16 20000 18000 120,000 JBS buys 50.1% 16000 Apr 16 100,000 14000 MAR Jan 15 12000 80,000 RobotWorx 10000 May 14 8000 60,
Slide 8: Ten year divisional revenue breakdown
Ten year divisional revenue breakdown April 2016 JBS acquires 50.1% at $1.39 per share A ug balance date 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Ac c um growth $m $m $m $m $m $m $m $m $m $m $m Meat processing 5 5 6 6 8 8 11 39 40 40 Industrial 2 1 3 8 7 9 31 31 40 40 Mining 9 12 19 28 34 2
Slide 9: Key Product Drivers / Market Opportunities: Alvey Europe
Key Product Drivers / Market Opportunities key drivers in the short to medium term – market opportunities for : • Alvey Europe – Strategic rational • Builds an end‐to‐end automation offering • Accelerate market access • Technology transfer (Service business model; software engineering expertise; Mae
Slide 10: Alvey Europe
GROUP ALVEY A. scott’ HASICES If MOUSIBIAL AUTOMATION
Slide 11: Key Product Drivers: Bladestop
Key Product Drivers / Market Opportunities key product drivers in the short to medium term – market opportunities for : • Alvey Europe • Bladestop – Expanding product range • In‐house development of Scott 600 saw near completion • Scott 400 development to follow • European saw
Slide 12: Key Product Drivers: Increasing adoption of meat automation
Key Product Drivers / Market Opportunities key product drivers in the short to medium term – market opportunities for : • Alvey Europe • Bladestop • Increasing adoption of meat automation technology: • Lamb in Australasia • Started with Beef in Australia • Substantial development work in Pork and Po
Slide 13: Key Product Drivers: DEXA
Key Product Drivers / Market Opportunities key product drivers in the short to medium term – market opportunities for : • Alvey Europe • Bladestop • Increasing adoption of meat automation technology: • DEXA – Australia developments and wider interest
Slide 14: Key Product Drivers: Mining technology developments
Key Product Drivers / Market Opportunities key product drivers in the short to medium term – market opportunities for : • Alvey Europe • Bladestop • Increasing adoption of meat automation technology: • DEXA – Australia developments and wider interest • Mining technology developments – Growing intere
Slide 15: Outlook
Outlook Forward project work – remains approx. 10 months Significant project work underway – Pork in the USA – Red meat (beef) development work – Mining in Norway, Chile and Mexico – Appliance systems for USA and China Alvey Increasing sales to JBS ($3.2m in FY17) Strong balance sheet to leverage of
Slide 16: Thank you
Thank you Scott capability showcase video
Slide 17: Appendix: Alvey Group
Appendix 1 Alvey Group
Slide 18: Transaction summary
Transaction summary Revenue to March 2017: €33.6m (NZ$56.5m) Multiple: Approx. 4.5x historic March 2017 EBITDA Location: Headquartered in Belgium along with operations in France, Czech Republic and the UK Staff: 250 Expected acquisition date: April 2018 Payment from cash reserves NZ dollar figures b
Slide 19: Company overview
Company overview Offering: Automated and robotic systems for handling the internal logistics of secondary packaging (trays, carton boxes, crates) and pallets. Palletisers and depalletisers Stacker cranes Pallet conveyors In‐house software to run and manage automation Case conveyors processes (Maestr
Slide 20: Company overview – Locations
Company overview – Locations Location: Deerlijk – 60km west of Brussels Belgium Scott Germany 50 year history 93 staff Corporate head office Two‐thirds of engineering staff Hosts the majority of project management staff Some modest production United Kingdom Location: Podivin – near Czech/Austrian bo
Slide 21: Company overview – March 2017 revenue snapshot
Company overview – March 2017 revenue snapshot Revenue to March 2017: €33.6m (NZ$56.5m) Equivalent to approx. 42% of Scott’s FY17 revenue 5 year CAGR of 14% pa Composition: 73% from projects (design through to build and integration) and 25% from service work such as maintenance contracts, 24/7 hotli
Slide 22: Company overview - People
Company overview ‐ People A very high calibre Senior Executive Maarten van Leeuwen Senior executive snapshot Group Managing Director • Average tenure of 10 years 15 years with Alvey Led a management buyout in 2011 which • Average age of 41 positioned Alvey for the shape it takes today • Majority are
Slide 23: Strategic rationale
Strategic rationale Building an end‐to‐end automation offering for the overall production process from raw material receipt to final distribution. Production & Scott Raw material receipts manufacturing process Packaging Palletising Internal logistics External transport Warehousing and distribution P
Slide 24: Strategic rationale – Business appeal
Strategic rationale – Business appeal High calibre Robust systems Low cost European management team and internal manufacturing scale/visibility and workforce processes Existing expertise Meaningful entry Direct application Greatly add to our in chilled/frozen into backend to JBS software factory log
Slide 25: Strategic rational – Synergy opportunities
Strategic rational – Synergy opportunities Take Alvey into new markets via our Scott channels • Geographies – Germany, USA, Australia, New Zealand and China • Key customers – JBS • Applications – meat processing Utilise key aspect of Alvey across Scott globally • Service business model • Software en