Slide 1: Schaffer Corporation Full Year Results Presentation June 2010
For personal use only Schaffer Corporation p Full Year Results Presentation June 2010
Slide 2: Full year results summary
Tough trading conditions for Automotive Leather & reduced constr ction activity construction acti it lead to a disappointing overall o erall result. res lt For personal use only % Full Year Ending 30 Jun (A$m) Jun-10 Jun-09 change Revenue 136.8 169.5 -19% EBITDA 15.1 26.9 - 44% EBIT (net interest ba
Slide 3: Net Profit before Tax
Net Profit before Tax For personal use only 10.0 8.0 6.0 4.0 2.0 $M'ss 0.0 -2.0 Automotive Leather Building Materials ae as Property 40 -4.0 C /I Corp./Interest -6.0 -8.0 FY09 FY10 3
Slide 4: Cash flow
Cash flow For personal use only Year Ending 30 Jun (A$m) Jun-10 Jun-09 EBITDA 15.1 26.9 Other non-cash items (0.9) 2.2 Net interest paid (4.1) (5.4) T paid Tax id (4 6) (4.6) (1 4) (1.4) Automotive Leather change in trade working capital 8.1 (13.1) Other changes in working capital 2.2 (2.1) Total op
Slide 5: Debt Position
Jun-10 Debt Position For personal use only Build. Mat. + JV Invest. Total p Corporate Properties p Howe Leather 30 Jun 2010 3 distinct and separate Type of Debt :- “debt pools”. Bank Debt - recourse 16.0 3.8 - 19.8 Bank Debt - non-recourse - 23.0 - 23.0 Govt. Loans - non-recourse - - 32.7 32.7 Separ
Slide 6: SFC Dividend Yield History
SFC Dividend Yield History y For personal use only Average g dividend yield y of 8.8% over the p past 10 years, y , fullyy franked !! Over $98m paid out in dividends. 12.0% 10.0% 8.0% Dividend Yielld* 6.0% 4.0% 2.0% 0.0% Jun 01 Jun-01 Jun 02 Jun-02 Jun 03 Jun-03 Jun 04 Jun-04 Jun 05 Jun-05 Jun 06 Ju
Slide 7: Automotive Leather
For personal use only 7 Automotive Leather
Slide 8: Automotive Leather Results
Automotive Leather Results For personal use only A$M $ Jun-10 Jun-09 % change g Revenue 81.5 96.6 -16% Segment EBIT -0.1 9.6 -100% Margin 0% 10% • Revenue down due to unfavourable exchange rates & strategic decision to withdraw from low margin (whole hide) market segment in Asia. • Margins reduced b
Slide 9: Automotive Leather - Global Footprint
A t Automotive ti Leather L th -Global Gl b l Footprint F t i t For personal use only Aachen, Germany y Tokyo, Kosice, Japan Slovakia Shanghai, Juarez, China Mexico Melbourne , Offices Australia Factories
Slide 10: Schaffer Building Materials
Schaffer Buildingg Materials For personal use only Building Products
Slide 11: Building Materials Results
Buildingg Materials Results For personal use only Buildingg Materials A$M Jun-10 Jun-09 % change R Revenue 47 2 47.2 66 0 66.0 -28% 28% Segment EBIT 7.3 10.0 -27% Margin 15% 15% • Decrease in revenue at Delta following completion of major construction projects in 2009, only partially offset by incre
Slide 12: Building Products (paving, walling & imported products)
Buildingg Products (p (paving,walling g, g & imported p pproducts For personal use only • National network of 15 Urbanstone Central stores/display centres • New masonry product range in 2011 Perth 1993 Jandakot 1994 Nedlands Brisbane 2007 Osborne Park 2008 Wangara 1998 Hemmant Yangebup Mandurah 2010
Slide 13: Delta Corporation (pre-cast & pre-stressed concrete)
Delta Corporation p (p (pre-cast & ppre-stressed concrete)) For personal use only • Revenue declined in FY10 following the completion of major projects in 2009 including the Perth-Bunbury highway project, Century City & Bishop’s See high rise buildings in the Perth CBD, and infrastructure works for
Slide 14: Property
Property p y For personal use only IBM Building, Hay St, West Perth 616 St Kilda Rd, Melbourne 89 St Georges Tce, Perth 14
Slide 15: Property Result
Property p y Result For personal use only A$M $ Jun-100 Ju Jun-09 Ju 09 % change c a ge Revenue 7.8 6.5 +20% Segment EBIT 4.8 3.6 +34% Margin 61% 55% • Revenue increased by land sales at Mindarie Keys (+$1.0m), and higher rental income from investment properties (+$0 (+$0.3m) 3m) • EBIT result boost
Slide 16: Valuable portfolio of assets with recurring income & substantial unrealized capital gains
Valuable portfolio of assets with recurring income & substantial b t ti l unrealized li d capital it l gains i For personal use only JV investment portfolio of 6 commercial and retail properties in WA & Victoria, plus an industrial sub-division (Neerabup WA) . Mindarie Keys residential sub-divisio
Slide 17: Syndicated JV investment properties
Syndicated y JV investment pproperties p For personal use only P th Perth SFC Interest IBM Centre, West Perth (1995) 22% Hometown Cannington (1998) 25% 89 ST Georges Tce (1999) 20% Vulcan Rd, Canning Vale (2006) 20% M lb Melbourne SFC Interest 616 St Kilda Rd (1997) 20% Bunbury SFC Interest Parks S/
Slide 18: Outlook – H1 2011
Outlook – H1 2011 For personal use only • Building Materials – Production levels at Delta are expected to improved compared to H2 2010, but revenue and EBIT for f the th first fi t half h lf off 2011 iis lik likely l to t be b lower l than th last l t year. – Similarly Building Products is expected