Metro Performance Glass Ltd · NZX:MPG
Metro Performance Glass — Shareholder Meeting (July 2019)
26 slides from Metro Performance Glass's shareholder meeting presentation, Jul 26, 2019
Slide 1: Annual Shareholders' Meeting
Metro Performance Glass Annual Shareholders’ Meeting 26th July 2019 Strictly confidential and not for public release
Slide 2: Introduction to Metroglass Highbrook
Introduction to Metroglass Highbrook Strictly confidential and not for public release 1
Slide 3: Meeting agenda
Meeting agenda 1. Chairman’s address 2. Chief Executive Officer’s address 3. General business and shareholder questions 4. Ordinary business and resolutions 5. Voting 6. Refreshments Strictly confidential and not for public release 2
Slide 4: Board of Directors
Board of Directors Peter Griffiths Russell Chenu Angela Bull Independent, non‐executive Chair Independent, non‐executive Director Independent, non‐executive Director Member of Audit and Risk Committee Member of Audit and Risk Committee Chair of People and Culture Committee Appointed: September 2016
Slide 5: Chairman's Address
Chairman’s Address Strictly confidential and not for public release
Slide 6: Key messages
Key messages Steady progress in New Zealand Recovery plans on track in Australia Debt reduction a key focus near term Dynamic competitive landscape Strictly confidential and not for public release 5
Slide 7: Our goals
Deliver market leading customer service Our goals Develop our organizational capabilities Uphold our scale strength through product & channel leadership Leverage that scale to deliver solutions efficiently Strictly confidential and not for public release 6
Slide 8: Governance
Governance Key activities during FY19 • Completed recruitment of new Group CEO who joined in November 2018 • Formal board review with external consultant • Highly engaged board, conducting 15 board meetings, 7 audit and risk committee meetings, 6 people and culture committee meetings Current focus •
Slide 9: Chief Executive Officer's Address
Chief Executive Officer’s Address Strictly confidential and not for public release
Slide 10: Summary of the FY19 year
Summary of the FY19 year • EBIT in line with March guidance, stronger debt reduction • Improved financial results in New Zealand (80% of group revenue) • Good progress made on people and customer focused initiatives in NZ, positioning the company well for increased competition • New Tasmanian plant
Slide 11: Executing on Metroglass' strategic objectives
Executing on Metroglass’ strategic objectives Deliver market leading Develop our organisational Uphold scale strength Leverage our scale to deliver customer service capabilities through product & channel solutions efficiently leadership • Good insights from • Employee engagement • NZ commercial glaz
Slide 12: People and apprentices initiatives
30% 9% Of Highbrook employees (for example) involved in self‐led Reduction in voluntary continuous improvement staff turnover vs FY18 projects Award winner: Designing with Glass – Commercial Farmers Corner Restroom Pavilion, Metro Performance Glass Apprentices enrolled 27 50 March July 2019 2019 30+
Slide 13: Recent customer engagement
Recent customer engagement Customer contacts: 328 Response rate: 74% 7.3/10 1 Customer contacts: 145 Response rate: 74% 8.0/10 1 Survey question: “On a scale of 1 to 10, how likely are you to recommend Metroglass to a friend or colleague?” Strictly confidential and not for public release 12
Slide 14: New Zealand market activity and operational performance
New Zealand market activity and operational performance NZ residential consents (by number)1 Metroglass NZ product quality: % external reworks +2.2% +10% 34,516 4.0% 31,392 • Residential dwelling 30,626 consents for 12 months to 31 March 19 rose +10% 3.0% 21,716 23,018 25,988 • North Island +13% 2.0
Slide 15: Australian market activity and AGG operational performance
Australian market activity and AGG operational performance South East Australia detached dwelling approvals (by number)3 AGG product quality: % external reworks 68,847 71,333 71,405 • Double glazing penetration is 4.0% increasing 29,565 28,868 • Detached dwelling (house) 3.0% 29,670 approvals for th
Slide 16: Double glazing use in new Australian residential buildings remains low
The use of double glazing in new residential buildings in Australia remains low, but increasing and provides a significant opportunity Management estimates of double glazing Hot Climate penetration in new residential construction 95% 65% ‐ 70% 70% ‐ 75% Mixed Climate 10% ‐ 15% Victoria New South Wal
Slide 17: Australia building code pathway for double glazing
Australia has a clear building code pathway in place that will provide strong impetus to the increasing use of double glazing Roadmap of planned changes to Australia’s National Construction Code (NCC) 2018 2019 2022 2025 2028 Initial trajectory set and changes Increased energy to the NCC 2022 agreed
Slide 18: FY20 guidance
FY20 guidance • While consents in New Zealand have increased, we expect activity levels to be similar to last year given persistent supply‐side constraints • In Australia, we expect to deliver an improved result despite further contractions in housing starts • We currently anticipate: • Group EBIT o
Slide 19: General business and shareholder questions
General business and shareholder questions Strictly confidential and not for public release
Slide 20: Resolutions
Resolutions Strictly confidential and not for public release
Slide 21: Resolutions
Resolutions To consider and, if thought fit, pass the following ordinary resolution: Resolution 1: That the Board be authorised to fix the fees and expenses of PwC as Auditor for the ensuing year. Strictly confidential and not for public release 20
Slide 22: Resolutions
Resolutions To consider and, if thought fit, pass the following ordinary resolution: Resolution 2: That Angela Bull be elected as a Director of the company Strictly confidential and not for public release 21
Slide 23: Resolutions
Resolutions To consider and, if thought fit, pass the following ordinary resolution: Resolution 3: That Peter Griffiths be elected as a Director of the company Strictly confidential and not for public release 22
Slide 24: Special resolution
Special resolution To consider and, if thought fit, pass the following special resolution: Resolution 4: That the company amend its existing Constitution, in the manner marked up in the Constitution as presented to shareholders at the meeting. Strictly confidential and not for public release 23
Slide 25: Contact information
Contact information Metro Performance Glass Limited 5 Lady Fisher Place, East Tamaki Auckland 2013 New Zealand Ph: + 64 9 927 3000 www.metroglass.co.nz/ Simon Mander – Chief Executive Officer Simon.Mander@metroglass.co.nz (+64) 029 636 2661 John Fraser‐Mackenzie – Chief Financial Officer john.fraser
Slide 26: Disclaimer
Disclaimer This presentation (“Presentation”) has been prepared by Metro Performance Glass Limited (Company Number 5267882) (“Metro Performance Glass”). Please do not read this Presentation in isolation This presentation contains some forward looking statements about Metro Performance Glass and the
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