Coventry Group Limited · ASX:CYG
Coventry — H1 FY2018 Earnings Presentation
13 slides from Coventry's earnings presentation, Mar 1, 2018
Slide 1: Investor presentation – Half year results to 31 December 2017
Investor presentation Half year results to 31 December 2017 1
Slide 2: Group structure and vision
Group structure and vision Trade Distribution Australia and New Zealand 2
Slide 3: FY18 half year overview
FY18 half year overview • Trading performance of the Group has improved in the first half of FY18. • 2 minor Lost Time Injuries in FY18. • Sales +9.8% (excluding the non-continuing operations of AA Gaskets) • The Group is committed to the health, safety and well to $83.7m ($76.2m pcp). being of our
Slide 4: Financial KPI's
Financial KPI’s Group revenue % change Underlying EBIT $ m Net profit/(loss) $ m 9.8% -6.1 -3.0 -1.7 • All key financial key performance 8.7 indicators are -22.2 -13.5 positive. -7.5% -0.9% • Revenue growth of +9.8%. • Underlying EBIT 1H F17 vs 1H F16 2H F17 vs 2H F16 1H F18 vs 1H F17 1H F17 vs 1H F
Slide 5: Trade Distribution
Trade Distribution ($m) 1H FY17 1H FY18 % change Revenue 50.6 52.7 4.1% EBIT (underlying) -3.4 -1.9 43.8% • Trade Distribution (TD) supplies a range of fastening systems and related products to trade customers across Australia and New Zealand. Key markets are industrial, construction and mining and
Slide 6: Trade Distribution Australia
Trade Distribution Australia ($m) 1H FY17 1H FY18 % change Revenue 37.1 37.8 1.9% EBIT (underlying) -4.5 -3.4 24.4% • Trade Distribution Australia (TDA) supplies a range of fastening systems and related products to trade customers through a network of 48 branches. Key markets are industrial and mini
Slide 7: Trade Distribution New Zealand
Trade Distribution New Zealand ($m) 1H FY17 1H FY18 % change Revenue 13.5 14.9 10.2% EBIT (underlying) 1.1 1.5 36.4% • Trade Distribution New Zealand (TDNZ) supplies a range of fastening systems, construction and other related products to trade customers through 14 branches across the network in New
Slide 8: Cooper Fluid Systems
Cooper Fluid Systems ($m) 1H FY17 1H FY18 % change Revenue 25.6 31.0 21.0% EBIT (underlying) 1.1 2.3 104.5% • Cooper Fluid Systems (CFS) design, manufacture, install, repair and supplies hydraulic, pneumatic, fluid transfer, refueling, fire suppression and lubrication systems and components through
Slide 9: AA Gaskets
AA Gaskets ($m) 1H FY17 1H FY18 % change Revenue 8.2 7.3 -11.3% EBIT (underlying) 1.7 1.6 -3.7% Note: FY17 includes 6 months trading compared to FY17 5 months • Sale of non-core business to GUD Holdings Limited. Enterprise Value of $22.0m. • Funds received by Coventry Group Ltd used to: • Repay the
Slide 10: Corporate
Corporate ($m) 1H FY17 1H FY18 % change Revenue 0.0 0.0 0.0% EBIT (underlying) 5.2 3.7 -28.9% • Significant reduction in operating costs across a range of expense categories. • Includes $500k income from insurance claim for 2017 cyber attack. • Income from the Redcliffe property reduced by $127k per
Slide 11: Balance sheet
Balance sheet ($m) Jun-16 Jun-17 Dec-17 • Net Assets of $64.0m (Jun 17: $61.6m) Cash & cash equivalents 3.5 5.1 6.3 • NTA per share of $1.39 (Jun 17: $1.30) Inventories 57.4 49.3 44.8 Trade and other receivables 30.8 29.3 31.7 • Inventory levels have increased in the branch network to improve Total
Slide 12: Summary
Summary • Management team continues to be strengthened and place focus on sales growth and sustainable profitable growth. • The Group is experiencing solid sales growth which continued in January 2018. • We are continuing to fine tune the TDA strategy to fast track progress to return the business to
Slide 13: Disclaimer
Disclaimer Reliance on third party information The information and views expressed in this Presentation were prepared by Coventry Group Ltd (the Company) and may contain information that has been derived from publicly available sources that have not been independently verified. No representation or