Tasfoods Limited · ASX:TFL
Tasfoods — Shareholder Meeting (May 2023)
26 slides from Tasfoods's shareholder meeting presentation, May 30, 2023
Slide 1: TasFoods Ltd Annual General Meeting
For personal use only TasFoods Ltd (TFL.ASX) Annual General Meeting 30 May 2023 John Murphy – Non Executive Chairman Scott Hadley – Chief Executive Officer
Slide 2: Items of Business
Items of Business Item 1: Consideration of Financial Statements Resolutions: For personal use only 1: Adoption of Remuneration Report 2: Re-election of Director – Mr Ben Swain 3: Approval for the Granting of Share Appreciation Rights to a Director (a) John Murphy, Non-executive Director (b) John O’H
Slide 3: Chairman's Address
For personal use only Chairman’s Address
Slide 4: TasFoods Strategic Focus
TasFoods Strategic Focus Four key pillars to leverage our competitive advantage and realise potential as a high quality Food and Beverage business For personal use only Fortress Tasmania Mainland Markets Adjacent Expansion Capitalise on our Build out meaningful Expand into new home-grown brand and c
Slide 5: Year in review – The transformation agenda progressed in an extremely challenging market
Year in review – The transformation agenda progressed in an extremely challenging market • Our Transformation agenda progressed with extensive business process and foundation improvements on all key aspects of the business For personal use only • Successful capital raise and placement completed in t
Slide 6: FY22 results
FY22 results Unprecedented conditions and economic turbulence impacted performance FY22 Profit & Loss For personal use only • Sales Revenue of $70.6m up $1.6% on prior year • Group Operating EBITDA loss of $7.3m compared with $4.7m loss in prior year • Dairy and Poultry intangibles fully impaired o
Slide 7: Investor Relations
Investor Relations Committed to being an accessible and transparent company • Investor relations activities will continue throughout the year For personal use only • Reporting against our strategy and key initiatives • Continuing to highlight the opportunities intrinsic to the TasFoods business • Up
Slide 8: Remuneration
Remuneration Fit for purpose, aligned with strategy and stage of company life cycle • Remuneration approach considered annually to ensure it is fit for purpose For personal use only • FY22 STI weighted towards financial performance and an EBITDA performance hurdle – nil STI paid in FY22 • TasFoods R
Slide 9: Outlook – Track to superior performance with stronger foundations
Outlook – Track to superior performance with stronger foundations • Against a very challenging external environment in 2022 we have made significant progress on simplifying, right sizing and strengthening the business consistent with our strategy For personal use only • We are starting to see meanin
Slide 10: Thank you
Thank you For your continued support in a very challenging environment In a very challenging market environment for Food and Beverage companies we thank everyone on the TasFoods journey For personal use only with us: • All of our employees led by Scott and the leadership team • Our customers • Our S
Slide 11: CEO Address
For personal use only CEO Address
Slide 12: Reimagining authentic provenance
Reimagining authentic provenance Our Vision To create the most reputable, sustainable, and authentic premium products collective For personal use only Our Mission Create a world leading growth platform for premium provenance brands to deliver superior consumer and customer experience and market lead
Slide 13: Our Brand Portfolio & Customer Channels
Our Brand Portfolio & Customer Channels We have simplified our brand hierarchy and implemented a more focused sales channel strategy For personal use only Brands & Product Strategy Sales Channels Brands that reflect artisan provenance & PREMIUM heritage, targeted at food lovers seeking Retail proven
Slide 14: Leadership Team focused on divisional performance supported by shared services
Leadership Team focused on divisional performance supported by shared services For personal use only SCOTT HADLEY JOSHUA FLETCHER JANE WECKER AARON HAW Chief Executive Officer Chief Financial Officer GM - Marketing GM – Dairy & Since October 2021 Since February 2023 Since December 2022 Horticulture
Slide 15: Strong foundation established
Strong foundation established • Against a very challenging external environment in 2022 we have made significant progress on simplifying and strengthening the business. For personal use only • Whilst the financial result for the year is not reflective of the many improvements that have been made, we
Slide 16: Transformation agenda progressed in extremely challenging market conditions
Transformation agenda progressed in extremely challenging market conditions • Our business transformation agenda has moved forward and the majority of initiatives have finished the design phase and will now be implemented to realise the full benefits . It is a multi-year programme that will deliver
Slide 17: 2022 Operating & Financial Review
2022 Operating & Financial Review Satisfactory sales revenue with operating cost headwinds negatively impacting EBITDA Balance Sheet & Cash Flow FY22 FY21 • The Group is supported by a balance sheet with a net asset position of $18.3m (noting For personal use only Shared Shared $000's Dairy Poultry
Slide 18: Sales
Sales TasFoods has increased its presence in Tasmania and enter mainland markets with considered strategies For personal use only • TasFoods has significantly increased its sales capability in 2022. • We have re-structured our sales team with the addition of a National General Manager and a Sales re
Slide 19: Marketing
Marketing TasFoods marketing focused on our core brands and e-commerce in 2022 For personal use only • We invested behind our core brands of Betta and Nichols in 2022 to drive awareness and sales. • The new campaign for Nichols. ‘Nothing but..’ reminded consumers our core value proposition of chlori
Slide 20: E-commerce
E-commerce Recognising the rising consumer demand for direct to consumer offerings, the Company has investing in the growth of its e-Commerce capability. • The Company has re-branded and re-launched its authentic For personal use only real wasabi brand, Shima and initiated a chef ambassador program,
Slide 21: Brands have won numerous awards
In 2022 our brands have won numerous awards showcasing the outstanding quality product we provide to consumers For personal use only 21
Slide 22: People & OHS
People & OHS Significant contribution to Tasmanian economy with over 250 employees Headcount For personal use only 12 MONTH ROLLING LTIFR 4.5 5% 2% Nichols 4 6% Betta 3.5 3% 3 4% MVD 2.5 2 7% Pyengana 1.5 1 54% Shima 0.5 0 Sales/Marketing Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-2
Slide 23: FY23 April YTD Trading Result
FY23 April YTD Trading Result Pleasing revenue performance whilst input cost challenges remain • YTD sales as at the end of April is significantly ahead of last year and budget expectations with all business units showing growth on last PCP. For personal use only • Poultry division sales increase (+
Slide 24: TasFoods Strategic Focus
TasFoods Strategic Focus Four key pillars to enable the company to leverage its competitive advantage and realise its potential For personal use only Fortress Tasmania Mainland Markets Adjacent Expansion Capitalise on our home- Build out go to market Expand into New grown advantage path ways leverag
Slide 25: Pet food category entry
• The Pet Food category in Australia is worth over $3bn and is growing very fast. The treats segment is circa 10% of this. • Australia has one of the highest rates of pet ownership in the world and owners are seeking premium offerings for their pets. For personal use only • We have developed a uniqu
Slide 26: The Ambition
The Ambition Whilst delayed due to external factors, our 3-phase horizon model remains our ambition over the next 2-3 years. Some elements have been completed and there is much work to do on financial stability which remains the priority. For personal use only HORIZON 1 HORIZON 2 HORIZON 3 Stabilise