Delegat Group Limited · NZX:DGL
Delegat — FY2022 Earnings Presentation
19 slides from Delegat's earnings presentation, Aug 26, 2022
Slide 1: FY22 Results
YEARS OF VISIONARY WINEMAKING DELEGAT FY22 Results 26 August 2022
Slide 2: Agenda
Agenda Introduction to meeting. Business Performance – 2022 Year under review. Investing for the Future. Delegat Outlook.
Slide 3: Performance Highlights
Performance Highlights Record Global Case Sales of 3,360,000 - Up 182,000 cases on last year (6%) Operating NPAT of $58.1 million - Down $7.1 million on last year (-11%) Operating EBITDA of $112.2 million - Down $10.2 million on last year (-8%) Reported NPAT of $63.0 million - Up $1.1 million on las
Slide 4: Case Sales and FX
Case Sales and FX June 2022 June 2021 % Change Case Sales (000's) vs 2021 UK, Ireland and Europe 1,060 1,074 -1% North America (USA and Canada) 1,608 1,487 8% Australia, NZ and Asia Pacific 692 617 12% Total Cases 3,360 3,178 6% Foreign Currency Rates GB£ 0.5066 0.4988 -2% AU$ 0.9263 0.9301 0% US$ 0
Slide 5: Revenue Growth Analysis
Revenue Growth Analysis June 2022 June 2021 % Change NZ$ millions Actual Actual vs 2021 Sales Revenue 319.3 295.1 8% Sales movements breakdown: Volume 6% Value 2% Foreign Exchange -1% Price 2% Country/Product Mix 1% 5
Slide 6: Operating Performance
Operating Performance Jun 2022 Jun 2021 % Change NZ$ millions Restated* vs 2021 Sales Revenue 319.3 295.1 8% Operating Revenue 325.4 302.7 7% Operating Gross Profit 144.2 150.9 -4% Operating Gross Margin 44% 50% Expenses (excl Promotion and Marketing) (45.7) (43.4) -5% Promotion and Marketing (9.7)
Slide 7: Operating Profit Movement – Last Year
Operating Profit Movement – Last Year NZ $millions $65.2m* ($4.1m) *The financial statements for the year ended 30 June 2021 have been restated for Software-as-a-Service arrangements under NZ IAS 38: Intangible Assets. 7 Refer to Note 1 of the financial statements.
Slide 8: Impact of 'Fair Value' Adjustments
Impact of ‘Fair Value’ Adjustments Jun 2022 Jun 2021 % Change NZ$ millions Restated* vs 2021 Operating NPAT 58.1 65.2 -11% Operating NPAT % of Revenue 18% 22% Biological Produce (Grapes) 1 6.6 (7.3) n/m2 Derivative financial Instruments 0.2 2.7 -93% Total Fair Value Items 6.8 (4.6) n/m2 Taxation of
Slide 9: Reported Profit Movement – Last Year
Reported Profit Movement – Last Year NZ $millions $61.9m* *The financial statements for the year ended 30 June 2021 have been restated for Software-as-a-Service arrangements under NZ IAS 38: Intangible Assets. 9 Refer to Note 1 of the financial statements.
Slide 10: Balance Sheet Summary
Balance Sheet Summary Jun 2022 Jun 2021 % Change NZ$ millions Restated* vs 2021 Assets Current Assets 257.9 225.3 14% Fixed Assets 706.7 658.5 7% Other Non-current Assets 2.8 - 100% Total Assets 967.4 883.8 9% Liabilities Current Liabilities 100.9 44.8 125% Lease Liability 79.5 93.9 -15% Deferred Ta
Slide 11: Net Debt Movement
Net Debt Movement NZ $millions 11
Slide 12: Net Debt Overview
Net Debt Overview Jun 2022 Jun 2021 % Change NZ$ millions Restated* vs 2021 Funding Operating Cash Flow 65.6 74.3 -12% Net Debt 248.7 249.1 0% Key Ratios Operating Profit Measures Interest Cover 9.45 10.15 -7% 1 13.2% 16.5% -20% Return on Equity Return on Capital Employed 2 11.4% 13.8% -17% Reported
Slide 13: 2022 Harvest
2022 Harvest Group Harvest: - Delivered excellent quality in all regions - 44,816 tonnes, up 20% on 2021 13
Slide 14: Agenda
Agenda Introduction to meeting. Business Performance – 2022 Year under review. Investing for the Future. Delegat Outlook.
Slide 15: Investing in Growth – Capital Expenditure Update
Investing in Growth – Capital Expenditure Update 2020: Includes vineyard and winery 70 developments in Hawke’s Bay, Marlborough 62 and Barossa Valley, and land acquisition in New Zealand. 60 52 2021: Includes vineyard and winery 50 developments in Hawke’s Bay, Marlborough Million of $ and Barossa Va
Slide 16: Agenda
Agenda Introduction to meeting. Business Performance – 2022 Year under review. Investing for the Future. Delegat Outlook.
Slide 17: Delegat Sales Growth 2020 - 2025
Delegat Sales Growth 2020 - 2025 Thousands 9 Litre Cases 2022 2023 2024 2025 Case Sales (000s) Actual Forecast Projection Projection Total Cases 3,360 3,672 3,910 4,080 % Increase 9% 6% 4% 17
Slide 18: FY23 Operating Profit Guidance
FY23 Operating Profit Guidance Based on prevailing exchange rates, the Group forecasts to achieve a FY23 operating profit that is in the range of $60 to $64 million. Ongoing supply chain disruption will be continued to be monitored closely. 18
Slide 19: Thank you
DELEGAT Thank you