Slide 1: FY20 Results
DELEGAT NO.1 FY20 Results 28 August 2020 New Zealand wine exporter to the world.
Slide 2: Agenda
Agenda Introduction to meeting. Business Performance – 2020 Year under review. Investing for the Future. Delegat Outlook.
Slide 3: Performance Highlights
Performance Highlights Record global case sales of 3,277,000. 9% higher than last year. Record Operating NPAT of $60.8 million. 20% higher than last year. Record cash flows from operations of $84.3 million. 42% higher than last year. No1 New Zealand wine exporter to the World. 3
Slide 4: Case Sales and FX
Case Sales and FX Jun 2020 Jun 2019 % Change Case Sales (000's) Actual Actual vs 2019 UK, Ireland and Europe 1,101 896 23% North America (USA and Canada) 1,438 1,332 8% Australia, NZ and Asia Pacific 738 780 -5% Total Cases 3,277 3,008 9% Jun 2020 Jun 2019 % Change Foreign Currency Rates Actual Actu
Slide 5: Revenue Growth Analysis
Revenue Growth Analysis Jun 2019 Jun 2020 % Change NZ$ millions Actual Actual vs 2019 Restated* Sales Revenue 296.8 269.4 10% Revenue movements breakdown: Volume 9% Value 1% Foreign Exchange 2% Country/Product Mix -1% 5 *The financial statements for the year ended 30 June 2019 have been restated fol
Slide 6: Operating Performance
Operating Performance Jun 2019 Jun 2020 % Change NZ$ millions Actual Actual vs 2019 Restated* Sales Revenue 296.8 269.4 10% Operating Revenue 302.9 278.0 9% Operating Gross Profit 151.3 138.4 9% Operating Gross Margin 50% 50% Expenses (excl Promotion and Marketing) (48.6) (45.9) -6% Promotion and Ma
Slide 7: Operating Profit Movement – Last Year
Operating Profit Movement – Last Year NZ $millions 7
Slide 8: Impact of 'Fair Value' Adjustments
Impact of ‘Fair Value’ Adjustments Jun 2019 Jun 2020 % Change NZ$ millions Actual Actual vs 2019 Restated* Operating NPAT 60.8 50.8 20% Operating NPAT % of Revenue 20% 18% Biological Produce (Grapes) 1 (0.7) (4.2) 83% Derivative Instruments 1.3 (1.5) n/m2 Total Fair Value Items 0.6 (5.7) n/m2 Taxati
Slide 9: Reported Profit Movement – Last Year
Reported Profit Movement – Last Year NZ $millions 9
Slide 10: Balance Sheet Summary
Balance Sheet Summary Jun 2019 Jun 2020 % Change NZ$ millions Actual Actual vs 2019 Restated* Assets Current Assets 203.0 199.0 2% Non-current assets 601.7 591.2 2% Total Assets 804.7 790.2 2% Liabilities Current Liabilities 46.7 46.2 1% Lease Liability 79.5 82.0 -3% Deferred Tax Liabilities 28.5 28
Slide 11: Net Debt Movement
Net Debt Movement NZ $millions 11
Slide 12: Net Debt Overview
Net Debt Overview Jun 2019 Jun 2020 % Change NZ$ millions Actual Actual vs 2019 Restated* Funding Operating Cash Flow 84.3 59.6 42% Net Debt 239.5 270.3 11% Key Ratios Operating Profit Measures Interest Cover 8.82 6.72 31% 1 17.7% 16.8% 5% Return on Equity Return on Capital Employed2 14.0% 12.5% 12%
Slide 13: 2020 Harvest
2020 Harvest Group Harvest: - Exceptional quality across all three of our wine regions - 38,129 tonnes, up 7% on 2019 13
Slide 14: Agenda
Agenda Introduction to meeting. Business Performance – 2020 Year under review. Investing for the Future. Delegat Outlook.
Slide 15: Investing in Growth – Capital Expenditure Update
Investing in Growth – Capital Expenditure Update 2018: Includes vineyard and winery 60 developments in Hawke’s Bay, Marlborough and Barossa Valley, and land acquisition in 52 New Zealand. 50 47 2019: Includes vineyard and winery 40 developments in Hawke’s Bay, Marlborough 40 Million of $ and Barossa
Slide 16: Agenda
Agenda Introduction to meeting. Business Performance – 2020 Year under review. Investing for the Future. Delegat Outlook.
Slide 17: Delegat Sales Growth 2018 - 2023
Delegat Sales Growth 2018 - 2023 4,000 3,500 Thousands 9 Litre Cases 3,000 2,500 2,000 1,500 1,000 500 - 2018 2019 2020 2021 2022 2023 2020 2021 2022 2023 Case Sales (000s) Actual Forecast Projection Projection Total Cases 3,277 3,346 3,573 3,840 % Increase 2% 7% 7% 17
Slide 18: FY21 Operating Profit Guidance
FY21 Operating Profit Guidance Based on prevailing exchange rates, the Group forecasts to achieve a FY21 operating profit that is in the range of $60 to $65 million. 18
Slide 19: Thank you
DELEGAT Thank you