Slide 1: Full Year Result – June 2007
For personal use only McPherson’s Limited FULL YEAR RESULT – JUNE 2007 David Allman Managing Director
Slide 2: Profit & Loss
PROFIT & LOSS A$ Millions For personal use only June 06 June 07 Sales 314.6 319.5 EBITDA 37.6 45.8 Depreciation / amortisation (5.5) (5.4) EBIT 32.1 40.4 $0.9 million year-on-year Interest (11.6) (11.4) negative impact on NPBT 20.5 29.0 fair value of interest rate hedges. NPAT 15.0 20.9 Pre Tax Cash
Slide 3: Balance Sheet at 30th June 2007
BALANCE SHEET AT 30th JUNE 2007 A$ Millions For personal use only June 06 June 07 Fixed Assets (including intangibles) 215.2 207.7 Net Working Capital 67.8 74.1 Other (31.1) (36.7) _____ _____ Funds Employed 251.9 245.1 _____ _____ Shareholders’ Funds 127.7 140.3 Gearing reduced to Net Debt 124.2 10
Slide 4: EBIT Breakdown
EBIT BREAKDOWN A$ Millions For personal use only June 06 June 07 Consumer Products - Australia 25.5 31.7 - International 6.7 7.0 ____ ____ 32.2 38.7 Printing 3.0 5.0 Corporate, etc. (3.1) (3.3) ____ ____ Group EBIT 32.1 40.4 ____ ____
Slide 5: Consumer Products
CONSUMER PRODUCTS A$ Millions For personal use only June 06 June 07 5% growth due to success of new Sales 235.0 246.4 products EBITDA 33.7 40.9 Depreciation / Amortisation 1.9 2.2 _____ _____ EBIT 31.8 38.7 Productivity gain and expense EBITDA / Sales (%) 14.3 16.6 reductions EBIT / Sales (%) 13.5 1
Slide 6: Consumer Products Commentary
CONSUMER PRODUCTS COMMENTARY For personal use only • Revenue growth in major brands • Reduction in SKU count of 25% (exit low contribution products) • NPD programmes working well • Further productivity improvements and overhead reductions • Upgrade of computer system completed at Kingsgrove • Develo
Slide 7: Printing
PRINTING A$ Millions For personal use only June 06 June 07 Sales 71.7 73.3 EBITDA (before equipment leases) 8.0 10.4 Equipment lease expense 1.9 2.2 Depreciation 3.1 3.2 ____ ____ Cost reduction EBIT 3.0 5.0 following capex programme EBITDA (before equipment leases)/Sales (%) 11.2 14.2 EBIT/Sales (%
Slide 8: Printing Commentary
PRINTING COMMENTARY For personal use only • Joint Venture not proceeding at this stage • Strategy review • Capex programme complete • Business performing well
Slide 9: Objectives
OBJECTIVES For personal use only • Strategic acquisitions producing target return levels • Further organic growth • Increase in ROSF towards target of 20% p.a.