Tasfoods Limited · ASX:TFL
Tasfoods — Investor Presentation (June 2019)
20 slides from Tasfoods's investor presentation, Jun 20, 2019
Slide 1: Welcome to TasFoods AGM – Investor Presentation
Welcome to TasFoods AGM For personal use only Investor Presentation Acquisition of selected assets and brands of Betta Milk Co-operative Society June 2019
Slide 2: About TasFoods
About TasFoods For personal use only TasFoods is a diversified food business leveraging Tasmania’s unique environment to create premium food products for sale to Australian and export customers. TasFoods has a strong and loyal customer base in Tasmania and continues to focus on its vision to showcas
Slide 3: FY18 Company Highlights
FY18* Company Highlights For personal use only FY18 was a year of strong growth for TasFoods, setting the company on a pathway to profit. Highlights include: • Sales revenue up 25% to $38.4 million. • Gross profit up 54% to $10.7 million. • EBITDA improvement of $4.6 million. • H2 delivered positive
Slide 4: TasFoods' Dairy Operations
TasFoods’ Dairy Operations For personal use only TasFoods has a small, strongly growing dairy business with a diversified suite of brands and product types. Sales revenue grew by 140% in FY 2018 to $5.96 million. Premium Quality Artisan Cheese Indulgent Cream and Butter Premium Milk Sold to independ
Slide 5: For personal use only
For personal use only
Slide 6: TasFoods Expands Dairy Business with Purchase of Betta Milk
TasFoods Expands Dairy Business with Purchase of Betta Milk For personal use only Transformational acquisition for TasFoods with significant growth and synergy opportunities. • On 13 May 2019, TasFoods entered into an agreement to purchase the milk processing assets and brands of the Betta Milk Co-o
Slide 7: Betta Milk Customer and Product Mix for FY19
Betta Milk Customer and Product Mix for FY19 For personal use only Betta Milk has a diversified customer mix, all located in Tasmania, with Betta Milk has a simple product mix derived from the top 10 customers representing 60% of sales. No individual whole milk with a range of product sizes customer
Slide 8: Betta Milk Assets
Betta Milk Assets For personal use only Key assets included in the Betta Milk purchase are: • Export accredited processing facility located at 147 Old Surrey Road, Burnie, which includes: • High speed volumetric filler and associated equipment installed in 2018. • 1 refrigerated delivery vehicle. •
Slide 9: Key Attributes of the Betta Milk Assets
Key Attributes of the Betta Milk Assets For personal use only Processing Plant Upgrade Distribution Network Betta Milk has invested in equipment to support The Betta Milk distribution network provides a business growth. refrigerated delivery service that covers all of Tasmania. In 2018, Betta Milk i
Slide 10: Betta Milk Complements and Strengthens TasFoods Dairy Business
Betta Milk Complements and Strengthens TasFoods Dairy Business For personal use only The acquisition of Betta Milk is another step in TasFoods’ strategy to build a successful premium food business leveraging Tasmania’s unique environmental and marketing advantages. Strategic advantages include: Syne
Slide 11: Growth Opportunities from Betta Milk Acquisition
Growth Opportunities from Betta Milk Acquisition For personal use only Significant merger benefits and growth opportunities over the short and medium term are expected from the Betta Milk acquisition. The combination of Betta Milk’s processing assets and TasFoods’ strong market offering will create
Slide 12: Pro Forma Balance Sheet Post Acquisition
Pro Forma Balance Sheet Post Acquisition For personal use only Set out in the table is the Company’s; (i) statement of financial position as at 31 December 2018 (audited), and; (ii) pro forma statement of financial position as at 31 December 2018 (unaudited), giving effect to the Acquisition and Rig
Slide 13: Non-Renounceable Rights Issue Overview
Non-Renounceable Rights Issue Overview For personal use only • Rights Issue to raise $8 million, compromising: • A 1 for 3.099 non-renounceable rights issue. • The Issue Price for the Rights Issue is $0.12 per New Share. This represents a: • 25% discount to the last trading price of the Company’s sh
Slide 14: Rights Issue Timetable
Rights Issue Timetable For personal use only Note: Times and dates shown above are indicative only and subject to change. All times and dates refer to Sydney time. The Company reserves the right, subject to the Corporations Act, the Listing Rules and the Underwriter’s consent, to vary the dates of t
Slide 15: Key Risks - Corporate
Key Risks - Corporate For personal use only A number of risks and uncertainties, which are both specific to TasFoods and of a more general nature, may affect the future operating and financial performance of TasFoods and the value of its shares. While some common risk factors are set out below, it i
Slide 16: Key Risks - Operational
Key Risks - Operational For personal use only Supply Risk Ensuring our input supply is secure, stable and reliable. TasFoods is reliant on a number of key suppliers for inputs such as hatchlings, milk, cream and animal feed. We have strong relationships and contracts with our suppliers to ensure tha
Slide 17: Key Risks - Acquisition
Key Risks - Acquisition For personal use only Integration Achieving the synergies available from the acquisition of the Betta Milk assets. Successful integration of the Betta Milk operations into the TasFoods structure will be complex. To manage this complexity there will be a dedicated Integration
Slide 18: Experienced Food and Dairy Team Leading Integration
Experienced Food and Dairy Team Leading Integration For personal use only Shane Noble Jane Bennett Donna Wilson Tom Woolley David Bennett Leigh Austin Executive Chairman Managing Director & CEO CFO COO Chief Sales and Dairy Operations Jane has over 20 years of experience Donna is a qualified finance
Slide 19: Further Shareholder Information
Further Shareholder Information For personal use only For further information on the Rights Issue, shareholders can use the following contacts: • TasFoods Shareholder Information Line; • During office hours (Monday to Friday 9am to 5pm Sydney time) on 1300 407 677 (or internationally on +61 1300 407
Slide 20: Disclaimer
Disclaimer For personal use only This presentation is provided by TasFoods Ltd ACN 084 800 902 (TasFoods) to provide summary information about TasFoods and its subsidiaries and their activities as at the date of this presentation. In addition, summary information relating to Betta Milk has been prov