Pro-pac Packaging Ltd · ASX:PPG
Pro-pac Packaging — Investor Presentation (February 2024)
21 slides from Pro-pac Packaging's investor presentation, Feb 29, 2024
Slide 1: 2024 Half Year Results
Slide 2: Important Information
Important Information Pro-Pac Packaging Limited Half Year Results FY24 2
Slide 3: About Pro-Pac Packaging
About Pro-Pac Packaging Pro-Pac Packaging Limited Half Year Results FY24 3
Slide 4: Safety Performance
Safety Performance • LTIFR at 8.31 (FY23: 10.96) • As we continue our safety journey and increasing our safety awareness across the business, the LTIFR continues to improve with reduced injuries resulting in loss time for the business. • TRIFR at 21.24 (FY23: 21.01) • TRIFR remains constant, however
Slide 5: Strategy
Strategy • • • • • Pro-Pac Packaging Limited Half Year Results FY24 5
Slide 6: Group Financial Results
Group Financial Results
Slide 7: Group Financial Performance
Group Financial Performance Continuing Operations A$ million 1H24 1H23 Change Statutory results: Results Headlines Revenue 158.9 183.3 (24.4) Profit/(loss) after tax (6.9) (4.9) (2.0) Operating results: • Revenue decreased 13.3% to $158.9 million (1H23: $183.3 million) during EBITDA pre-AASB 16 1.2
Slide 8: Balance Sheet
Balance Sheet Balance Sheet Balance Sheet Results A$ million DEC-23 JUN-23 Change Working capital increased by $4.0 million during the half-year: Working capital* 76.3 72.3 4.0 • Receivables – increase of $1.0 million or 1%; Net debt* (22.9) (15.0) (7.9) • Inventories – decrease of $2.7 million pr
Slide 9: Cashflow
Cashflow Cash Management Cashflow Results A$ millions 1H24 1H23 Change • The Group has returned to more normalised levels of cash flows compared Net cash flows from operating activities 0.9 (15.5) 16.4 to the prior period which included the completion of a rights issue which Net cash flows from in
Slide 10: Pro-Pac Packaging Limited Half Year Results FY24
Pro-Pac Packaging Limited Half Year Results FY24 10
Slide 11: Flexibles
Flexibles A$ million 1H24 1H23 Change Result Headlines Revenue 124.5 143.4 (18.9) • Revenue decreased by 13.2% to $124.5 million (2022: $143.4 million) EBITDA pre-AASB 16 1.3 0.0 1.3 reflecting the impact of pass through of lower raw material costs (primarily resin costs) to customers as a result of
Slide 12: Specialty Packaging
Specialty Packaging A$ millions 1H24 1H23 Change Result Headlines Revenue 34.4 39.9 (5.5) EBITDA pre-AASB 16 0.6 0.6 - • Revenue decreased by 13.8% to $34.4 million (1H23: $39.9 million) as a EBIT 0.4 0.6 (0.2) result of the impact of difficult trading conditions and product rationalisation to bette
Slide 13: Investing in the Circular Economy
Investing in the Circular Economy • PPG has committed to becoming an industry leader in the recycled plastics and circular economy through the development of a soft plastics recycling facility. • The Company has been awarded a grant of $13.9m to build a $30m+ facility, targeted to complete in Q4FY25
Slide 14: Outlook
It's the way jt shatters that matters.
Slide 15: FY24 Outlook
FY24 Outlook • • • • • • o o o o • Pro-Pac Packaging Limited Half Year Results FY24 15
Slide 16: Appendices
Appendices
Slide 17: Reconciliations – Continuing Operations
Reconciliations – Continuing Operations The impact on the profit or loss for Continuing Operations for 1H24 is shown in the table below: 1H24 1H23 Pre- Adopt Post- Pre- Adopt Post- A$ millions AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 Revenue 158.9 - 158.9 183.3 - 183.3 Operating expenditure (
Slide 18: Reconciliations - Group
Reconciliations - Group The impact on the profit or loss for the Group (continuing and discontinued) for 1H24 is shown in the table below: 1H24 1H23 Pre- Adopt Post- Pre- Adopt Post- A$ millions AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 Revenue 158.9 - 158.9 185.5 185.5 Operating expenditure (
Slide 19: Reconciliations
Reconciliations Reconciliation to net debt DEC-23 JUN-23 A$ millions Borrowings 19.8 17.2 Less: cash and cash equivalents (2.5) (8.3) Net Debt* 17.3 8.9 Less: Government grant proceeds 5.6 6.1 22.9 15.0 Working capital DEC-23 JUN-23 A$ millions Trade Receivables 64.8 63.8 Inventory 63.8 66.5 Trade P
Slide 20: Definitions of Non-IFRS Financial Measures
Definitions of Non-IFRS Financial Measures Unless otherwise stated in this presentation, all metrics are disclosed post-AASB 16 1H23 means the half year (6 months) ended 31 December 2022 1H24 means the half year (6 months) ended 31 December 2023 Adjusted EBITDA means EBITDA before AASB 16 Leases for
Slide 21: For further information please contact:
For further information please contact: Investors: John Cerini Chief Executive Officer & Managing Director Email: investors@ppgaust.com.au Tel: +613 9474 4222 Domenic Romanelli Chief Financial Officer Email: investors@ppgaust.com.au Tel: +613 9474 4222 \ oe
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