Slide 1: 2025 Half Year Results
2025 Half Year Results Ian Shannon– CEO & Managing Director Patsy Ch’ng – CFO 28 February 2025 Pro-Pac Packaging Limited ABN 36 112 971 874
Slide 2: Important Information
Important Information This Presentation contains the summary information about the current activities of Pro-Pac Any forecasts or other forward-looking statements contained in this Presentation are subject to Packaging Limited and its controlled entities (Pro-Pac Packaging or the Group). It should b
Slide 3: Pro-Pac Company Overview
Pro-Pac Company Overview Pro - P a c Group, is an Australian & New Zealand flexible packaging business that is focused on using its manufacturing and investment expertise to capitalise on $143M key industry trends including innovation and sustainability, to provide total TURNOVER 1H25 packaging solu
Slide 4: Safety Performance
Safety Performance • The LTIFR remains in single digits since FY24 indicating stability. HY25 LTIFR at 9.41 (FY24: 8.77) • The TRIFR has increased slightly by 7% from FY24. We anticipate this to improve by FY25 as we continue to improve the safety culture across the group. HY25 TRIFR at 19.67 (FY24:
Slide 5: Group Financial Results
Group Financial Results
Slide 6: Group Financial Performance
Group Financial Performance Results Headlines v 1H24 v 1H25 A$ million 1H25 1H24 Change 2H24 Change Revenue decreased 10.1% to $142.9 million (2023: $158.9 million) during the half-year reflecting the impact of: Statutory results: Revenue 142.9 158.9 (16.0) 136.3 6.6 • Sales to our major customer in
Slide 7: Balance Sheet
Balance Sheet Balance Sheet Balance Sheet Results A$ million DEC-24 JUN-24 Change Working capital decreased by $1.0 million during the half-year: Working capital* 61.8 62.8 (1.0) • Receivables – increase of $5.8 million primarily due to December 2024 Net debt* (41.1) (27.8) (13.3) quarter revenues e
Slide 8: Cashflow
Cashflow Cash Management Cashflow Results A$ millions 1H25 1H24 Change • Cash flows from operating activities were an outflow of $7.1 million, Net cash flows from operating activities (7.1) 0.9 (8.0) compared to an inflow of $0.9 million in the corresponding period which was reflective of the negati
Slide 9: Operating Segment Performance
Operating Segment Performance
Slide 10: Flexibles
Flexibles A$ million 1H25 1H24 Change Result Headlines Revenue 108.6 124.5 (15.9) EBITDA pre-AASB 16 before corporate costs (2.3) 5.6 (7.9) Revenue decreased by 12.8% to $108.6 million (1H24: $124.4 million) reflecting the impact of reduced volumes attributed to: Corporate costs* (5.1) (5.0) (0.1)
Slide 11: Specialty Packaging
Specialty Packaging A$ million 1H25 1H24 Change Result Headlines Revenue 34.2 34.4 (0.2) EBITDA pre-AASB 16 before corporate costs 3.3 2.6 0.7 Revenue volumes decreased by 0.6% to $34.2m (1H24: $34.4m). This movement includes $0.4 million relating to non-core market segments. Corporate costs* (1.6)
Slide 12: 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 $50m+ facility (including building and develop
Slide 13: Outlook
Outlook
Slide 14: FY25 Outlook
FY25 Outlook • First half FY2025 EBITDA (before significant items) was an improvement on second half FY2024 (before significant items), however we expect full year FY2025 to be below FY2024 EBITDA (before significant items). • Market conditions and exchange rate movements continue to be challenging
Slide 15: Appendices
Appendices
Slide 16: Reconciliations - Group
Reconciliations - Group The impact on the profit or loss for 1H25 is shown in the table below: 1H25 1H24 2H24 Pre- Adopt Post- Pre- Adopt Post- Pre- Adopt Post- A$ millions AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 AASB 16 Revenue 142.9 - 142.9 158.9 - 158.9 136.3 - 136.3 Opera
Slide 17: Reconciliations
Reconciliations Reconciliation to net debt DEC-24 JUN-24 A$ millions Borrowings 34.4 21.6 Less: cash and cash equivalents (0.6) (1.1) Net Debt* 33.8 20.5 Less: Government grant proceeds 7.3 7.3 41.1 27.8 Working capital JUN-24 JUN-24 A$ millions Trade Receivables 65.1 59.3 Inventory 56.5 63.8 Trade
Slide 18: 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 1H24 means the half year (6 months) ended 31 December 2023 1H25 means the half year (6 months) ended 31 December 2024 2H24 means the half year (6 months) ended 30 June 2024
Slide 19: For further information please contact
For further information please contact: Investors: Ian Shannon Chief Executive Officer and Managing Director Email: investors@ppgaust.com.au Tel: +61 3 9474 4222 Patsy Ch’ng Chief Financial Officer Email: investors@ppgaust.com.au Tel: +61 3 9474 4222