Metro Performance Glass Ltd · NZX:MPG
Metro Performance Glass — FY2022 Earnings Presentation
17 slides from Metro Performance Glass's earnings presentation, May 30, 2022
Slide 1: Full year result
MET RO P E R FORM ANCE GL AS S Full year result For personal use only 31 March 2022
Slide 2: Key messages
Key messages • The Metroglass Group has managed frequent Covid-19 disruptions and other For personal use only external pressures well, limiting supply volatility to our customers • Solid revenue in New Zealand was aided by resilient activity before and after the lockdown, however higher input costs
Slide 3: Our Environmental, Social and Governance
Our Environmental, Social and Governance For personal use only This year we have continued to build on our approach and reporting of ESG, including; • Good progress improving safety and wellbeing, with Metroglass TRIFR trending lower • Continue to invest in our apprenticeship scheme with 8 apprentic
Slide 4: Financial highlights
Financial highlights GROUP 1 For personal use only Revenue NEW ZEALAND 1 $236.1m +2% (FY21: $232.3m) Revenue EBIT $178.0, -1% $7.4m, -61% EBIT NPAT (FY21: $179.8m) (FY21: $18.7m) $5.9m -66% $(0.5)m -$7.6m (FY21: $17.2m) (FY21: $7.2m) AUSTRALIA Revenue EBIT Net debt Leverage ratio $58.1m, +11% $(0.3)
Slide 5: Solid revenue aided by resilient activity; higher input costs impacted profitability
Solid revenue was aided • Metroglass’ focus on strong and clear communications, safety stock levels, and operational by resilient activity before stability, provided certainty to the market and tempered volatility for our customers. and after the lockdown, For personal use only • A mix of external p
Slide 6: AGG's transformation into a specialist double-glazing business
AGG’s transformation • Australian Glass Group (AGG) generated a strong 11% increase in revenue despite the disruptive into a specialist double- environment, as they managed evolving state-by-state operating conditions well. glazing business gained For personal use only • Gross profit margin improved
Slide 7: FY22: Metroglass Group revenue (NZ$)
FY22: Metroglass Group revenue (NZ$) FY21 FY22 For personal use only $232.3m $236.1m $118.2m $115.6m $52.5m $58.1m $36.8m $33.5m $24.9m $28.9m Residential NZ Commercial Glazing NZ Retrofit NZ Australian Glass Group Total group revenue (2%) (9%) 16% 11% 2% (1%) 7 Note: The allocation of sales between
Slide 8: FY22: Financial results summary
FY22: Financial results summary For personal use only Group results Segment results FY22 FY212 % change FY22 FY212 % change NZ$m1 NZ$m1,3 Group New Zealand Revenue 236.1 232.3 2% Revenue 178.0 179.8 (1)% EBITDA before significant items 24.6 37.5 (34)% Gross profit 77.1 86.4 (11)% Depreciation & amor
Slide 9: FY22: EBIT bridge (NZ$m)
FY22: EBIT bridge (NZ$m) New Zealand Australia (NZ$) For personal use only 17.2 4.5 0.9 4.0 1.2 5.9 3.6 7.2 0.7 1.3 1 Net restatement Change in net revenue FY21 EBIT All expenses and other income FY22 EBIT Increase in expenses and other Freight detention costs NZ Govt wage subsidy, rent relief, and
Slide 10: Group summary cash flow & balance sheet
FY21: Group summary cash flow & balance sheet Key cash flow items (NZ$m) FY22 FY214 • Net operating cash flows were significantly below last year primarily as a result of the For personal use only rapid increases in material costs that are partially offset by price increases, and the lower EBIT befo
Slide 11: Our capital allocation methodology
Our capital allocation methodology shared with the market last year continues to guide our structured thinking For personal use only • The priority order for the use of capital going forward will be: New Zealand AGG Net operating cash flow Net operating cash flow 1. Capital expenditure to maintain o
Slide 12: A healthy pipeline and strategic positioning sets up Metroglass for the future
A healthy pipeline and strategic positioning sets up Metroglass for the future For personal use only • New Zealand residential building consents have reached record levels in the last 12 months. Capacity constraints in the industry mean that we expect building activity to remain at current levels fo
Slide 13: We remain focussed on our strategy and near-term goals
We remain focussed on our strategy and near-term goals For personal use only Building resilience and Grow profitability in Ensure our balance defending Metroglass’ Australia, benefiting from sheet is robust to cope leadership position in increasing demand for with future risks and New Zealand double
Slide 14: Thank you
T h a nk yo u Opportunity for questions For personal use only
Slide 15: Appendix: Non-GAAP financial information
Appendix: Non-GAAP financial information For personal use only • Group results are reported under NZ IFRS. This presentation includes non-GAAP financial measures which are not prepared in accordance with NZ IFRS, being: • EBITDA: Earnings before interest, tax, depreciation and amortisation • Segment
Slide 16: Disclaimer
For personal use only 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 Perf
Slide 17: Contact information
Contact information For personal use only Metro Performance Glass Limited 5 Lady Fisher Place, East Tamaki, Auckland 2013 Ph: + 64 9 927 3000 www.metroglass.co.nz/ Simon Mander – Chief Executive Officer Simon.Mander@metroglass.co.nz (+64) 029 636 2661 Brent Mealings – Chief Financial Officer Brent.M
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