Breville Group Limited · ASX:BRG
Breville — Shareholder Meeting (November 2020)
37 slides from Breville's shareholder meeting presentation, Nov 12, 2020
Slide 1: Breville Group Limited – Annual General Meeting Presentation
12 November 2020 Manager, Company Announcements, Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000 Breville Group Limited – Annual General Meeting Presentation Please find attached the Chairman’s Address to shareholders and the CEO’s Review of Operations to be delivered at the
Slide 2: Chairman’s Address
12 November 2020 Chairman’s Address Slide 2 Good morning ladies and gentlemen and welcome to Breville Group Limited’s 2020 Annual General Meeting. Slide 3 In the 2020 Financial year the Group continued to progress up the curve of our acceleration program with strong sales growth and double-digit EBI
Slide 3: CEO’s Review of Operations
Slide 5 I would now like to take the opportunity to express our gratitude to Jim Clayton and to his talented, motivated and passionate team members across the Globe who have shown exceptional nimbleness, and resilience, in this turbulent year. We are privileged to have such an exceptional group on t
Slide 4: Slides 10-12 speaking notes
Slide 10 Disaggregating the Global Product Segment, all geographies delivered double digit growth. The North American performance is showing the impact of the COVID lockdown process in the US as well as Amazon pushing Prime Day from July to October. ANZ delivered a growth rate north of its typical p
Slide 5: Slides 15-17 speaking notes
Slide 15 A couple of years ago, we launched the Bambino Pro, and we are now launching its little brother, the Bambino. This is the most compact espresso machine we have ever made that delivers the same mandatory elements of true café-quality coffee that we deliver with the Dual Boiler. It has the sa
Slide 6: CEO’s Address
Slide 20 A solution typically includes products, content and services, a supporting eco-system, and an underlying platform that ties it all together. In most buyer/seller transactions, one party is the solution provider, which tends to be the buyer. Maybe an example will help. Slide 21 To get the do
Slide 7: Outlook speaking notes
Slide 25 Put all this together on top of the new infrastructure we are rolling out across Breville, and you’ve got an end-to-end coffee solution for our customers. We do all the heavy lifting, and they just enjoy the coffee. We are obviously on the front end of this journey. We have much to learn al
Slide 8: Disclaimer
Disclaimer This Presentation contains certain ‘forward looking statements’. The forward looking statements contained in this Presentation are not guarantees of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Breville
Slide 9: Breville Group Limited Annual General Meeting
November 2020 Breville Group Limited Annual General Meeting
Slide 10: Chairman’s Address
Chairman’s Address Mr Steven Fisher 2
Slide 11: A solid year of growth, across all geographies, in a turbulent time
“A solid year of growth, across all geographies, in a turbulent time.” 3
Slide 12: Group FY20 Results Summary
Group FY20 Results Summary % change FY20 from FY19 Revenue $952.2m 25.3% EBIT $100.9m 3.7% Normalised EBIT $113.1m 14.3% Normalised NPAT $75.0m 11.2% Normalised EPS 57.3 cps 10.6% Dividends per share (DPS) 41.0 cps 10.8% Net Cash $128.5m (PY $9.8m) 4
Slide 13: Thank You
Thank You • Breville | Sage team • Board colleagues • Suppliers, customers and consumers • Valued shareholders 5
Slide 14: CEO’s Address
CEO’s Address Jim Clayton Master Every Moment 6 Breville | Sage
Slide 15: AGM Agenda
AGM Agenda • The Numbers • 1H FY21 New Products • Extending Solution Footprint • FY21 Outlook 7
Slide 16: Group Summary Result
Group Summary Result Commentary AUDm FY20 FY19 % Chng • FY20 well managed with normalised results Revenue 952.2 760.0 25.3% and trajectory landing as expected against a Gross Profit 320.6 271.2 18.2% turbulent backdrop EBITDA 126.5 114.0 11.0% • Robust Group revenue growth +25.3% underpinned by soli
Slide 17: Segment Results
Segment Results REVENUE EBIT EBIT MARGIN (%) AUDm Normalised Normalised FY20 FY19 % Chng FY201 FY19 % Chng FY201 FY19 Global Product 764.4 612.0 24.9% 90.2 78.8 +14.5% 11.8% 12.9% % Change CC2 20.1% Distribution 187.8 148.0 26.9% 22.9 18.5 +23.8% 12.3% 12.5% TOTAL 952.2 760.0 25.3% 113.1 97.3 +16.2%
Slide 18: Segment Results cont’d
Segment Results cont’d GLOBAL PRODUCT SEGMENT REVENUE AUDm FY20 FY19 % Chng $A % Chng CC1 North America 420.4 357.4 17.6% 11.3% Australia and 157.4 132.9 18.4% 18.3% New Zealand (ANZ) Europe 143.3 89.6 60.1% 54.8% Rest of World (ROW) 43.3 32.1 34.8% 25.6% TOTAL 764.4 612.0 24.9% 20.1% 1 CC – Constan
Slide 19: Financial Position at 30 June
Financial Position at 30 June AUDm FY20 FY19 Commentary Inventory 153.7 152.3 • Balance sheet strengthened and underlying ROE% remains healthy Receivables 156.1 154.6 • Working capital reduced below equilibrium Trade and other payables (147.9) (122.7) - Inventory levels below equilibrium due to part
Slide 20: AGM Agenda
AGM Agenda • The Numbers • 1H FY21 New Products • Extending Solution Footprint • FY21 Outlook 12
Slide 21: New Colours for FY21
New Colours for FY21 Oyster Shell Black Stainless Steel Black Truffle Smoked Hickory Sea Salt Royal Champagne Damson Blue Master Every Moment~ 13 Breville | Sage
Slide 22: Multi-Lingual UX
Multi-Lingual UX Multi Language Multi Function Text Scrolling 14
Slide 23: Most Compact 4-Elements Machine
Most Compact 4-Elements Machine 15
Slide 24: Commercial / Prosumer Sous Vide
Commercial / Prosumer Sous Vide 16
Slide 25: Joule Oven Air Fryer Pro
Joule” Oven Air Fryer Pro” Joule Autopilot’ automated multi-event cooking experience. Master Every Moment*
Slide 26: AGM Agenda
AGM Agenda • The Numbers • 1H FY20 New Products • Extending Solution Footprint • FY21 Outlook 18
Slide 27: Walking Up the Product Value Curve
Walking Up the Product Value Curve Solution Thinking FY20 Category Thinking FY18 Food Thinking FY16 19
Slide 28: Solution Framework
Solution Framework Ecosystem Content/ Product Services Platform When there’s a buyer and a seller, one of them is typically responsible for providing the solution. 20
Slide 29: Someone is Always the Solution Provider
Someone is Always the Solution Provider 21
Slide 30: I Just Wanted a Perfect Cup of Coffee
I Just Wanted a Perfect Cup of Coffee 22
Slide 31: Expanding Product Portfolio: Café Quality Only
Expanding Product Portfolio: Café Quality Only 23
Slide 32: Content/Service Portfolio
Content/Service Portfolio “How To” Training Specialty Coffee www.beanz.com Subscription Service Espresso Cleaning Kit 24
Slide 33: FY21: End-to-End Coffee Solution
FY21: End-to-End Coffee Solution Ecosystem Products Content/Service Content Platform Coffee Marketplace Dropship / Subscription Services ERP • Specialty Coffee Roasters • Specialty Coffee Cafes 25
Slide 34: AGM Agenda
AGM Agenda • The Numbers • 1H FY20 New Products • Extending Solution Footprint • FY21 Outlook 26
Slide 35: Trading Update / FY21 Outlook
Trading Update / FY21 Outlook • YTD, we have continued to experience a healthy demand for our products across geographies. • It is unusual for Breville to provide Outlook commentary this early in the financial year because we won’t have a clear read on Christmas trading until the middle of January.
Slide 36: Disclaimer
Disclaimer This Presentation contains certain ‘forward-looking statements’. The forward looking statements contained in this Presentation are not guarantees of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Breville
Slide 37: AGM Close of Meeting
AGM Close of Meeting Master Every Moment~ Breville | Sage