Tasfoods Limited · ASX:TFL
Tasfoods — Investor Presentation (February 2022)
21 slides from Tasfoods's investor presentation, Feb 28, 2022
Slide 1: FY 2021 Results & Resetting Strategic Focus
FY 2021 Results & Resetting Strategic Focus Scott Hadley – Chief Executive Officer Shona Croucher – Chief Financial Officer FY21 Results Presentation & Strategic Outlook | February 2022
Slide 2: Our Brand Portfolio & Customer Channels
Our Brand Portfolio & Customer Channels Brands & Product Strategy Sales Channels Brands that reflect artisan provenance & PREMIUM heritage, targeted at food lovers seeking Retail provenance behind the product EVERYDAY Brands that provide a piece of indulgence for Distributors LUXURY everyday life, t
Slide 3: FY21 Profit & Loss
FY21 Profit & Loss $000's FY21 FY20 % Change • Revenue from operations increased by 3.8% on the back of increased volume in Nichols, MVD and Pyengana Income Revenue from operations 69,441 66,911 3.8% • Betta milk volume faced competitive headwinds in the core white milk business Other income 626 526
Slide 4: FY21 Balance Sheet
FY21 Balance Sheet $000's FY21 FY20 • The Group is supported by a balance sheet with a net asset position of Current Assets $28.6m (including property, plant and equipment balances of $25.9m) Cash & Cash Equivalents 1,450 7,635 Trade & Other Receivables 4,973 4,493 • Cash position reduced compared t
Slide 5: FY21 Cash Flow
FY21 Cash Flow $000's FY21 FY20 • Net cash outflows from operating activities were $4.4 million which is reflective of the increased input costs including grain costs associated Cash flows from operating activities with feed, substantial increases in milk purchases, increased labour Receipts from cu
Slide 6: FY21 Operating & Financial Review
FY21 Operating & Financial Review Continued organic growth in sales revenue FY21 FY20 Dairy & Poultry Sales Revenue | FY21 Corporate & Corporate & $000's Dairy Poultry Total Dairy Poultry Total Other Other $80,000 Revenue +3.8% $60,000 Total Segment Sales Revenue 30,362 38,636 443 69,441 29,502 37,0
Slide 7: Dairy Division
Dairy Division Continued growth in revenue & margin management delivered profitability within the Dairy Division • Sales revenue for the dairy division grew by 3% to $30.4 million. The sales growth was primarily driven by increases in Pyengana Cheese and Milk, Meander Valley Cream range and our new
Slide 8: Poultry Division
Poultry Division Several headwinds arising from Covid-19 cause margin compression leading to an EBITDA loss in the Poultry Division • Sales revenue for the poultry division grew by 4% on the pcp in 2021 to $38.6 million. Revenue growth was largely driven by the launch of our new organic range, Isle
Slide 9: Business Review & Future Strategy
Business Review & Future Strategy
Slide 10: Management Insights – the first four months
Management Insights – the first four months Strong brand & product assets that require a solid corporate foundation to realise their potential • Outstanding base of strong local (Betta and Nichols) and national (Pyengana, Meander Valley & Shima) brands with heritage and authenticity. • Commercial fo
Slide 11: What have we done to date?
What have we done to date? Following the initial findings of the review, management have already implemented changes 1. Operational and strategic reviews of Dairy and Poultry business divisions complete 2. Implemented price adjustments in dairy & poultry to reflect actual input costs and reviewed ma
Slide 12: 2022 onwards - TasFoods New Strategic Focus
2022 onwards - TasFoods New Strategic Focus TasFoods will focus on four key pillars to ensure the Company can leverage our competitive advantage and realise its potential as a leading branded premium produce group Fortress Tasmania Mainland Markets Adjacent Expansion Expand aggressively Capitalise o
Slide 13: Fortress Tasmania
Fortress Tasmania Tasmania is our home and we must take advantage of our strong brand equity and route to market scale to build a base line level of financial performance. To achieve this we must be focused on brands and SKUs that can deliver consistently and sustainably over the long-term Managemen
Slide 14: Mainland Market Expansion
Mainland Market Expansion TasFoods will enter mainland markets with considered strategies for each brand. Initially we intend to target only brands that resonate with premium mainland consumers • Within its portfolio, TasFoods have a range of brands that will resonate with consumers outside of Tasma
Slide 15: Adjacent Expansion
Adjacent Expansion TasFoods cannot rely only on organic growth of its existing brand portfolio. We will implement growth strategies across NPD and M&A but pursue only those opportunities that meet our strict capital management criteria • TasFoods cannot only be positioned as clean/green Where do we
Slide 16: Centre of Excellence
Centre of Excellence The heartbeat of the entrepreneurial, nimble and value enhancing central function making our business units more valuable than if they were stand alone. The reason we are TasFoods Being an innovator and incubator of ideas to add value for all TasFoods' stakeholders. Our corporat
Slide 17: Top 10 initiatives
Top 10 initiatives Over the 3 phase horizon period we will focus on the Top 10 priority areas. 1. Fix the foundations 2. Reset strategic direction 3. Implement capital management framework 4. Develop a marketing and brand investment plan 5. Implement ERP 6. Determine TasFoods distribution and wareho
Slide 18: Our Ambition
Our Ambition 3 phase horizon model shows how we will execute the plan over the next 2-3 years HORIZON 1 HORIZON 2 HORIZON 3 Stabilise / Consolidate Rebalance / Reposition Growth / Expansion • Earn the Right to Grow • Portfolio Rebalance • Expand Growth • Decisive Trade-offs Markets • Improve financi
Slide 19: The opportunity
The opportunity • We have a premium portfolio of authentic brands – we just need to give them some love and attention • Unrivalled distribution network in Tasmania • Product quality is excellent • A level of integration will unlock efficiency dividends • Lifting of commercial capabilities will impro
Slide 20: Disclaimer
Disclaimer 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. The information in this presentation is of a general nature and does not purport to be comp
Slide 21: Contact
Contact Scott Hadley | CEO E: scott.hadley@tasfoods.com.au