Slide 1: December 2010 Half Year Results Presentation
Schaffer Corporation For personal use only December 2010 Half Year Results Presentation
Slide 2: Group profits impacted by reduced earnings across all three operating divisions
Group profits impacted by reduced earnings across all three operating divisions For personal use only % Half Year ($m’s) Dec-10 Dec-09 change Revenue 65.6 68.4 -4% EBITDA (excluding discontinued operations) 9.9 10.7 -7% EBIT (excluding discontinued operations) 7.6 8.4 -9% Net profit after tax (inclu
Slide 3: Cash flow
Cash flow For personal use only Half Year Ending (A$m) Dec-10 Dec-09 EBITDA ((inc. discontinued operations) p ) 7.8 9.3 Net interest paid (2.4) (2.0) Tax paid (1.2) (3.9) H Howe change h iin ttrade d working ki capital it l (6 6) (6.6) 13 8 13.8 Other changes in working capital 0.8 0.8 Other 0.3 (0.
Slide 4: Group Net Debt Position
Group p Net Debt Position For personal use only All amounts in $m's Build. Mat. + JV Invest. Automotive Total Corporate Properties Leather 31 Dec 2010 Type of Debt :- Bank Debt - recourse 19.0 3.8 - 22.8 1. Building Materials & Bank Debt - non-recourse - 23.0 - 23.0 Corp debt reduced by Govt. Loans
Slide 5: Schaffer Building Materials
Schaffer Building g Materials For personal use only Building Products
Slide 6: Building Materials Results
Building g Materials Results For personal use only $M’s $ Dec-10 Dec-09 % change g Revenue 27.7 27.7 0% Segment EBIT 2.9 5.6 -48.3% Margin 10.4% * 20.2% -48.4% • Revenue was flat with reduced turnover for Building Products (paving & walling products) offset by increased activity at Delta Corporation
Slide 7: Building Products – New Masonry Products
Building g Products – New Masonry y Products For personal use only The new Archistone range of concrete masonryy products p are now being manufactured at the state of the art Besser production line at our Jandakot (Perth) manufacturing facility. This range is manufactured using natural West Australi
Slide 8: Building Materials – Delta Polished Architectural Concrete
Building Materials – Delta Polished Architectural C Concrete t For personal use only Delta has recently imported and commissioned a new multi head concrete polishing machine, for the production of high quality architectural polished concrete products. This versatile and fully automated machine is ca
Slide 9: Automotive Leather
For personal use only 9 Automotive Leather
Slide 10: Automotive Leather Results
Automotive Leather Results For personal use only $M’s Dec-10 Dec-09 % change g Revenue * 34.3 37.1 -7.5% Segment EBIT * 4.1 1.8 +123.2% g Margin 12.0% 5.0% +141.2% * Excludes discontinued Mexico operations :- Revenue 4.5 6.5 EBIT (2 1) (2.1) (1 4) (1.4) • Revenue decreased as reduced sales in China
Slide 11: Property
Property p y For personal use only 616 St Kilda Rd, Melbourne IBM Building, Building Hay St St, West Perth 89 St Georges Tce, Perth 11
Slide 12: Property Results
Property p y Results For personal use only $M’s $ Dec-10 Dec-09 % change g Revenue 3.4 3.5 -0.9% Segment EBIT 1.5 1.9 -22.0% • EBIT decreased due to an increase in the vacancy rate, combined with higher lease incentives required to attract or retain anchor tenants. • No investment property sales rec
Slide 13: Outlook – Slightly lower H2 FY11 earnings likely
Outlook – Slightly g y lower H2 FY11 earnings g likely y For personal use only • Building Materials – Improved bidding activity for Delta in recent months is not likely to have a material financial impact , even if successful, until next financial year. Recent small but strategically important contr
Slide 14: Outlook – H2 FY11 cont.
Outlook – H2 FY11 cont. For personal use only • Property p y – EBIT for the Property division during H2 FY11 is expected to be materially lower than the prior corresponding period. The prior period included profit before tax of $1.45m related to the sale of Schaffer’s interest in the Joondalupp Hous
Slide 15: Outlook - Dividends
Outlook - Dividends For personal use only • The Board had declared an interim dividend of 10c p per share fullyy franked, payable on 25 March 2011. 15