Slide 1: NWF Group plc Preliminary Results Year to 31 May 2010
NWF GROUP PLC PRELIMINARY RESULTS YEAR TO 31 MAY 2010 SPECIALIST DISTRIBUTOR OF FOOD FEED AND FUEL FOOD,
Slide 2: Contents
NWF Group plc Preliminary results year to 31 May 2010 Contents page Wh we are Who 3 Results summary 4 Operational p highlights g g 5 Financial review 8 Development outlook 12 Summary 16 Appendices 17 Business backgrounds Locations Group organisation Wardle site Five year financial performance Divisi
Slide 3: NWF Group plc – who we are
NWF Group plc Preliminary results year to 31 May 2010 NWF Group plc – who we are NWF Group G plc l is i a specialist i li t distributor di t ib t off Food, F d Feed F d and dFFuell 923 employees Operations across the UK, based in Cheshire, England Listed on AIM , market cap c.£50 million Revenue Ope
Slide 4: Results summary
NWF Group plc Preliminary results year to 31 May 2010 R Results lt summary Record performance for NWF Revenue £379.8 million (2009: £380.6 million) Operating p gpprofit up p 1.1% to £9.0 million ((2009: £8.9 million)) Profit before taxation up 14.5% to £7.1 million (2009: £6.2 million) Headline basi
Slide 5: Operational highlights – Food
NWF Group plc Preliminary results year to 31 May 2010 O Operational ti l highlights hi hli ht – Food F d 2010 2009 £m £m % Revenue 42.2 39.2 +7.7 Operating profit 3.1 2.0 +55.0 Average pallet spaces stored 100,000 103,000 (2.9) Record operating profit for the division Delivering on the investment to
Slide 6: Operational highlights – Feeds
NWF Group plc Preliminary results year to 31 May 2010 O Operational ti l highlights hi hli ht – Feeds F d 2010 2009 £m £m % Revenue 93.7 104.7 (10.5) Operating profit 2.1 2.8 (25.0) Tonnes 449,000 457,000 (1.8) Strong second half offsetting a poor H1 Compounds direct to farms; volumes up 5.6% Blendi
Slide 7: Operational highlights – Fuels
NWF Group plc Preliminary results year to 31 May 2010 O Operational ti l highlights hi hli ht – Fuels F l 2010 2009 £m £m % Revenue 243.9 236.7 +3.0 Operating profit 3.8 4.1 (7.3) Million litres 350 355 (1.4) Outstanding result for the division, following a record year in 2009 Excellent customer ser
Slide 8: Financial review – income statement summary
NWF Group plc Preliminary results year to 31 May 2010 Financial review – income statement summary May 2010 May 2009 Inc / (Dec) £m £m % Continuing operations Revenue Food 42.2 39.2 7.7% Feeds 93.7 104.7 (10.5%) Fuels 243.9 236.7 3.0% Total revenue 379.8 380.6 (0.2%) Operating profit Food 3.1 2.0 55.
Slide 9: Financial review – balance sheet summary
NWF Group plc Preliminary results year to 31 May 2010 Financial review – balance sheet summary May y 2010 May y 2009 £m £m Fixed assets 42.3 42.1 Net Working Capital 11.0 12.3 Assets Employed 53.3 54.4 Pension deficit (12 3) (12.3) (6 7) (6.7) Tax provisions (3.5) (4.5) Pension Scheme May-10 May-09
Slide 10: Financial review – net debt summary
NWF Group plc Preliminary results year to 31 May 2010 Financial review – net debt summary Debt Summary y Movement in net debt New committed facilities of £51.0m with RBS until Oct 20.0 2013. In addition £7m of HP finance is available. £m Facility Drawn Overdraft 1.0 0.4 12.3 5.1 £m Invoice Discounti
Slide 11: Financial review – cash flow
NWF Group plc Preliminary results year to 31 May 2010 Financial review – cash flow May 2010 May 2009 £m £m Cashflows from operating activities Operating profit 9.0 8.8 Depreciation and amortisation 3.3 3.5 Workingg capital p 2.0 0 5.6 Other (0.2) (0.2) Operating cash flow 14.1 17.7 Interest paid (1.
Slide 12: Development outlook: Resilience of NWF – strong platform for development
NWF Group plc Preliminary results year to 31 May 2010 Development outlook: Resilience of NWF – strong platform for development Strong operational performance through the recession and global financial crisis. Two record years for NWF Food has over 200 customers, many with long term contracts; relian
Slide 13: Development outlook – Food
NWF Group plc Preliminary results year to 31 May 2010 Development p outlook – Food Robust demand for ambient groceries UK Ambient grocery market 35 Boughey has a leading position in North West 30 Close relationship with major food retailers 25 Implemented 24/7 working: day 1 for day 2 for Tesco & £b
Slide 14: Development outlook – Feeds
NWF Group plc Preliminary results year to 31 May 2010 Development p outlook – Feeds Strong national sales team team, the dairy experts Dairy y feed market ((Great Britain)) 2001-2014 Long term stable demand Forecast 3.0 2.6 2.6 2.7 2.7 2.7 2.7 2.5 2.5 2.6 2.6 2.6 2.6 2.6 Continued consolidation of s
Slide 15: Development outlook – Fuels
NWF Group plc Preliminary results year to 31 May 2010 Development p outlook – Fuels Demand for fuel stable UK fuel market (by volume) 2006-2015 Proven performance in volatile oil price markets 40 35 CAGR (%) 30 Petrol (motor spirit) – commercial Proven ttrackk record P d – successful f lddepott ba
Slide 16: Summary
NWF Group plc Preliminary results year to 31 May 2010 Summary Another record p performance for NWF in a tough g economic climate Operational focus and strong management teams delivering performance: Profit before tax up 14.5% to £7.1 million Debt reduced to £13.9 million and debt to EBITDA 1.1 times
Slide 17: Appendices
NWF Group plc Preliminary results year to 31 May 2010 Appendices Business backgrounds Locations Group p organisation g Wardle site Five year financial performance Divisional financial track record Additional market data 17
Slide 18: Business background – Food
NWF Group plc Preliminary results year to 31 May 2010 Business background FOOD Consolidation of ambient grocery products to UK supermarkets Our business 115,000 pallet spaces 900,000 ft2 o of warehousing a e ous g in Wardle a dea and d Deeside ees de ((North o West) es ) Market leader in the North W
Slide 19: Business background – Feeds
NWF Group plc Preliminary results year to 31 May 2010 B i Business b background k d FEEDS Supply of feed to ruminants in the UK – principally dairy Our Business National player – 14% market share 449,000 tonnes produced in 2009/10 4,000 customers 160 people p p 28 trucks, 11 trailers Compound mills
Slide 20: Business background – Fuels
NWF Group plc Preliminary results year to 31 May 2010 B i Business b background k d FUELS Supply of fuels and fuel cards to commercial, domestic and retail customers across the UK. Our business Fourth largest distributor in the UK 30,000 customers 147 people 13 depots p across the UK 55 tankers Supp
Slide 21: Locations
NWF Group plc Preliminary results year to 31 May 2010 L Locations ti Food 1 Deeside 2 Wardle* Feeds 1 Ayr 2 Penrith 3 Wardle* 4 Wixland Fuels 1 Acle 2 Ammanford 3 Bangor 4 Boston 5 Burnley 6 Burwell 7 Dyserth 8 Kingsbury 9 Leaton 10 Nottingham 11 Stoke 12 Wardle* W dl * 13 Yate * Group head office a
Slide 22: Group organisation
NWF Group plc Preliminary results year to 31 May 2010 Group organisation Chief Executive Non-Executive Directors Richard Whiting Mark Hudson (Chairman) John Acornley David Southworth Finance Director Company Secretary Johnathan Ford Rob Andrew Distribution Feeds Fuels Managing Director Managing Dire
Slide 23: Wardle site: Group head office and major operating site
NWF Group plc Preliminary results year to 31 May 2010 Wardle site: Group head office and major operating site 23
Slide 24: Five year financial performance
NWF Group plc Preliminary results year to 31 May 2010 Five year financial performance Revenue Headline EPS 12 400 350 10 300 8 250 £ £m p 200 6 150 4 100 2 50 0 0 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 PBT DPS 5 7 6 4 5 3 4 £m p 3 2 2 1 1 0 0 2006 2007 2008 2009 2010 2006 2007 2008 2009 2
Slide 25: Divisional Financial Track records
NWF Group plc Preliminary results year to 31 May 2010 Divisional Financial Track records Food Feeds 45 3.5 120 3.0 40 3.0 100 35 2.5 2.5 30 80 £m Revenue £m 2.0 Revenue £ EBIT £m 20 2.0 EBIT £m 25 60 20 1.5 1.5 15 40 1.0 1.0 10 0.5 20 0.5 5 0 0.0 0 0.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 20
Slide 26: Feeds – additional market data
Pricce per tonne £ 100 110 120 130 140 150 160 170 50 60 70 80 90 01/06/2009 9 15/06/2009 9 29/06/2009 9 13/07/2009 9 27/07/2009 9 10/08/2009 9 24/08/2009 9 07/09/2009 9 Pence per litre 21/09/2009 9 10 12 14 16 18 20 22 24 26 28 05/10/2009 9 19/10/2009 9 2002 02/11/2009 9 2003 16/11/2009 9 2004 30/1
Slide 27: Fuels – additional market data
$ 0.00 100.00 120.00 130.00 140.00 150.00 160.00 10.00 20 00 20.00 30.00 40.00 50.00 60.00 70.00 80 00 80.00 90.00 110.00 02/01/2007 02/02/2007 02/03/2007 02/04/2007 02/05/2007 02/06/2007 02/07/2007 02/08/2007 02/09/2007 Fuels – additional market data 02/10/2007 02/11/2007 02/12/2007 02/01/2008 02/0