Allied Farmers Limited · NZX:ALF
Allied Farmers — Shareholder Meeting (November 2017)
22 slides from Allied Farmers's shareholder meeting presentation, Nov 28, 2017
Slide 1: Allied Farmers Limited Annual General Meeting
Allied Farmers Limited Annual General Meeting Tuesday, 28 November 2017
Slide 2: Welcome & Introduction
la Welcome & Introduction ~
Slide 3: Annual Financial Statements
Annual Financial Statements
Slide 4: Allied Farmers Limited Income and Expenses
Allied Farmers Limited 2017 2016 $m $m Income 17.4 16.0 Expenses 15.0 14.4 Taxation 0.2 0.2 Net Profit 2.2 1.4 Parent Owners Share 1.6 0.7
Slide 5: Continuing Divisions
Allied Farmers Limited CONTINUING DIVISIONS 2017 2016 $m $m LIVESTOCK Revenue 17.3 15.9 Pre-Tax Profit 2.7 2.3 INVESTMENTS Revenue 0.0 0.1 Impairments - - Profit (Loss) 0.0 0.1 CORPORATE Income 0.1 0.0 Costs 0.3 0.6 Interest 0.1 0.2 Profit (Loss) (0.3) (0.8)
Slide 6: Group Balance Sheet
Allied Farmers Limited GROUP BALANCE SHEET 2017 2016 $m $m ASSETS Receivables 8 6 Cash 2 2 Fixed Assets 4 4 Other Assets 1 1 15 13 LIABILITIES & EQUITY Borrowings 5 5 Other incl. Creditors 8 7 Equity 2* 0.1* 15 13 * Does not include assessed value of investment in subsidiaries or increase in value o
Slide 7: Significant Milestones
Significant Milestones Acquired further share in Redshaws Livestock - 52% Expansion in Northland and South Island Profit growth in NZ Farmers Livestock – Livestock sales up 30% Overhead cost efficiencies and lower Interest costs Finance subsidiary established Since Balance Date Further tranche of Re
Slide 8: Current Performance
Current Performance Livestock behind last year – wet spring lower turnover FMEL tracking similar to last year Corporate / AFIL in line with last year
Slide 9: Dividend
Dividend 0.2 cents per share 161.5 M shares $323,000 Fully Imputed Gross Dividend 0.278 cents per share Record Date 15 December 2017 Payment Date 19 January 2018
Slide 10: Allied Farmers - Rural, CEO - Steve Morrison
Allied Farmers - Rural CEO - Steve Morrison
Slide 11: Allied Farmers - Rural businesses
• NZ Farmers Livestock Agency • MyLivestock platform and App • Redshaw Livestock interest • Farmers Meat Export Ltd • Associated Auctioneers JV interests • Livestock Finance subsidiary Working with Farmers for Farmers
Slide 12: Consistent strategy, experienced team
• Consistent strategy • Experienced & growing team • Adding value for clients - every day • Win-Win business • Moving with (or ahead of) the times Working with Farmers for Farmers
Slide 13: Last Year and Today
Last Year: • Recruitment, acquisition, Northland, South Island, sale yard access • 2016/17 EBT 20% up on 2015/16 • Very good livestock agency performance • FMEL challenging but a profit • Redshaws pleasing – some system upgrade/transition costs • Building equity & position Today: • Late 2017/18 seas
Slide 14: Building & supporting teams
• Building & supporting teams • Developing new agents • Building networks, yard access and position • Building market position/reputation • Robust contracting arrangements • MyLivestock platform & App • Livestock finance to drive core business • Building the FMEL business • Building value • Managing
Slide 15: Meeting stakeholder requirements
• Meeting stakeholder requirements
Slide 16: The Future
The Future - Sensible Growth - Market share - MyLivestock leadership - Bottomline performance - A platform and support for wider Allied Farmers progress & initiatives - Working with Farmers for Farmers
Slide 17: Thank you
Thank you Working with Farmers for Farmers
Slide 18: Questions
Questions
Slide 19: Business Resolutions
Business Resolutions
Slide 20: Resolution 1. Re-election of Garry Bluett
Resolution 1. Re-election of Garry Bluett (retiring by rotation)
Slide 21: Resolution 2 Remuneration of Auditors
Resolution 2 Remuneration of Auditors
Slide 22: General Business
General Business