Pz Cussons Plc · LSE:PZC
Pz Cussons — H1 2019 Earnings Presentation
10 slides from Pz Cussons's earnings presentation, November 2018
Slide 1: Interim Results
Interim Results PZ Cussons Plc Half Year Ended 30 November 2018 1
Slide 2: Group Highlights
Group Highlights Revenue Profits Balance Sheet Outlook Initiatives Reported revenue Adjusted profit before Strong balance sheet Continuing good Strategic initiatives to 10.4% lower than tax slightly lower than with net debt lower performance streamline the Group's prior period and prior period with
Slide 3: Challenging Consumer Environment
Challenging Consumer Environment What we’re doing: • Stepping up pace of innovation and distribution in Europe and Asia • Fewer, Bigger, Better • Specific strategic initiatives being launched to reduce volatility • Investment to drive key initiatives in Personal Care and Beauty • Preserving market s
Slide 4: Group results
Group results Half year to Half year to Reported Constant currency 30 Nov 2017 30 Nov 2018 % change % change (restated)* Revenue £335.1m £373.9m (10.4%) (4.6%) Adjusted operating profit £35.4m £36.8m (3.8%) (1.1%) Adjusted profit before tax £32.8m £33.3m (1.5%) 1.5% Adjusted EPS 5.67p 5.62p 0.9% Div
Slide 5: Europe results
Europe results Half year to Half year to Reported Constant currency 30 Nov 2018 30 Nov 2017 change % change % (restated)* Revenue £128.2m £126.7m 1.2% 1.4% Operating profit £24.6m £24.2m 1.7% 1.6% *Restated for the following: 1. To reflect the impact of accounting for revenue under IFRS 15 using the
Slide 6: Asia results
Asia results Half year to Half year to Reported Constant currency 30 Nov 2018 30 Nov 2017 change % change % (restated)* Revenue £95.6m £102.6m (6.8%) (0.7%) Operating profit £9.6m £8.5m 12.9% 20.1% *Restated to reflect the impact of accounting for revenue under IFRS 15 using the full retrospective a
Slide 7: Africa results
Africa results Half year to Half year to Reported Constant currency 30 Nov 2018 30 Nov 2017 change % change % (restated)* Revenue £111.3m £144.6m (23.0%) (13.3%) Operating profit £1.2m £4.1m (70.7%) (67.7%) *Restated to reflect the impact of accounting for revenue under IFRS 15 using the full retros
Slide 8: Cash Flow and Net Debt
Cash Flow and Net Debt 39.5 (5.9) (4.8) (165.4) (7.1) (23.5) (177.2) (0.9) (9.1) Net debt Operating cash Working Capital Taxation Capex Dividends Foreign Exchange Other Net debt 31 May 2018 flow 30 November 2018 (ex WC) • Strong balance sheet with net debt of 1.6 x EBITDA • Working capital outflow m
Slide 9: Outlook
Outlook • Product innovation and distribution expansion to underpin good results in Europe and Asia • Full year PBT now expected to be towards £70 million due to Nigeria impact • Specific strategic initiatives approved to streamline Group activities and limit exposure to Nigeria volatility; addition
Slide 10: Thank you
Thank you Contact Brandon Leigh Chief Financial Officer brandon.leigh@pzcussons.com Tel: +44 161 435 1236 10