Synlait Milk Ltd. · NZX:SML
Synlait Milk — Shareholder Meeting (December 2023)
23 slides from Synlait Milk's shareholder meeting presentation, Dec 1, 2023
Slide 1: Welcome to Synlait's 2023 Annual Meeting
WELCOME TO SYNLAIT’S 2023 ANNUAL MEETING Friday 1 December 2023 Synlait Dunsandel, Canterbury, New Zealand
Slide 2: Voting Online
VOTING ONLINE • Voting is now open. • To vote, click on the vote tab, and select your preferred option. Once your vote has been cast a tick will appear. • You can vote for all resolutions at once or by each resolution. • There is no submit or send button. Your selection is automatically recorded. It
Slide 3: Asking a Question Online
ASKING A QUESTION ONLINE • To ask a question click on the Q&A icon. • Click on the box, type your question, and press submit. • Your question will be asked at the appropriate part of the meeting. • Please ensure questions are succinct, clear and relevant to the meeting. • Questions submitted ahead o
Slide 4: Need Help?
NEED HELP? • Check the virtual meeting guide on Synlait’s website. • Call the Computershare team on +64 9 488 8777 • Use the Q&A tab to message a Computershare representative. PAGE 4 SYNLAIT’S ANNUAL MEETING 2023
Slide 5: Chair Address
CHAIR ADDRESS Paul McGilvary Acting Chair Independent Director
Slide 6: Today's Agenda
TODAY’S AGENDA • Chair Address • Bright Dairy Appointed Director Address • CEO Address • Resolutions and Voting • Other Business
Slide 7: Acting Chair Areas of Focus: Four Key Themes
ACTING CHAIR AREAS OF FOCUS FOUR KEY THEMES STRENGTHEN STRENGTHEN STRENGTHEN RETAIN BALANCE SHEET FOUNDATIONS RELATIONSHIPS MANAGEMENT Reduce debt profile. Position Synlait Improve key customer Ensure key talent for growth. and farmer supplier is retained and relationships. motivated. PAGE 7 SYNLAIT
Slide 8: Synlait's Performance
SYNLAIT’S PERFORMANCE FY23 HAD ITS CHALLENGES, BUT BUILDING BLOCKS IN PLACE KEY FINANCIAL METRICS KEY PERFORMANCE HIGHLIGHTS Joyhana (UHT cream) launched, commercial sales underway. $40.9M 83% $ 90.7 M $ 39.0 M State Administration for Market Regulation (SAMR) re-registration achieved. TOTAL GROUP E
Slide 9: Sustainability as Enabler of Our Future Strategy
SUSTAINABILITY AS ENABLER OF OUR FUTURE STRATEGY B CORP™ RECERTIFICATION’S IMPORTANCE DOING MILK DIFFERENTLY FOR A HEALTHIER WORLD PAGE 9 SYNLAIT’S ANNUAL MEETING 2023
Slide 10: Bright Dairy Appointed Director Address
BRIGHT DAIRY APPOINTED DIRECTOR ADDRESS Julia Zhu
Slide 11: CEO Address
CEO ADDRESS Grant Watson
Slide 12: How Did We End FY23?
HOW DID WE END FY23? Enterprise Resource State Administration Utilisation of Synlait Continued People performance Planning system was for Market Pokeno (Advanced commitment to a heading in the right stabilised. Regulation (SAMR) Nutrition growth) competitive milk direction: achieved with The and Syn
Slide 13: Our Continued FY24 Priorities
OUR CONTINUED FY24 PRIORITIES Grow our Advanced Nutrition Strengthen our Manage our and Foodservice businesses balance sheet cost base PAGE 13 SYNLAIT’S ANNUAL MEETING 2023
Slide 14: Early Life Nutrition Landscape Is Changing
EARLY LIFE NUTRITION LANDSCAPE IS CHANGING China remains the largest market with a 49% global share. APAC total market value: US $31 B (CAGR 1.3%) Birth rate China’s marriage and birth rates Marriage rate (millions) (millions) 20 14 Japan 12 Infant: $0.5 B (-2%) 16 10 12 8 South Korea 8 6 Infant: $0
Slide 15: Advanced Nutrition for All Life Stages
ADVANCED NUTRITION FOR ALL LIFE STAGES Leveraging our infant and plant-based capability to grow into Adult Nutrition. ADVANCED INGREDIENTS EARLY LIFE NUTRITION ADULT NUTRITION Lactoferrin and Maternal Infant Child Active Sports Healthy Clinical specialty ingredients nutrition nutrition nutrition nut
Slide 16: Balance Sheet and Cost Base Management
BALANCE SHEET AND COST BASE MANAGEMENT WHAT ARE WE DOING? STRENGTHENING OUR BALANCE SHEET MANAGING OUR COST BASE • Good progress made converting inventory to cash. • Significant internal programme across Synlait • CAPEX spend reducing (FY22: $96.3m, to reduce OPEX (excluding growth areas). FY23: $65
Slide 17: Resolutions and Voting
RESOLUTIONS AND VOTING
Slide 18: Resolution 1: Auditor's Remuneration
ORDINARY RESOLUTION RESOLUTION 1: AUDITOR’S REMUNERATION “That the Board be authorised to determine the auditor’s fees and expenses for the coming financial year.” Voting online To vote, click on the vote tab, and select your preferred option. Once your vote has been cast a tick will appear. There i
Slide 19: Resolution 2: Constitution Amendment
SPECIAL RESOLUTION RESOLUTION 2: CONSTITUTION AMENDMENT “That Synlait Milk Limited’s Constitution be amended, with effect from the close of the Annual Meeting, in the form and manner described in the Explanatory Notes, to: 1) Add two new clauses, ‘2.8 Purpose Statement’ and ‘2.9 Stakeholder Consider
Slide 20: Other Business
OTHER BUSINESS
Slide 21: Asking a Question Online
ASKING A QUESTION ONLINE • To ask a question click on the Q&A icon. • Click on the box, type your question, and press submit. • Your question will be asked at the appropriate part of the meeting. • Please ensure questions are succinct, clear and relevant to the meeting. • Questions submitted ahead o
Slide 22: This Concludes Synlait's 2023 Annual Meeting
THIS CONCLUDES SYNLAIT’S 2023 ANNUAL MEETING Thank you for attending.
Slide 23: Disclaimer
DISCLAIMER This presentation is given on behalf of Synlait • includes statements relating to past Synlait, its directors, employees and/or Milk Limited (Synlait). Information in this performance, which should not be regarded shareholders shall have no liability whatsoever presentation: as a reliable