for personal use only - asx · 11/28/2018 · distributors in november 2018. • metcash...
TRANSCRIPT
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Annual General Meeting
Managing Director’s Presentation
28 November 2018
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FY18 – a pivotal year in Longtable’sdevelopment
PARIS CREEK FARMS
ST DAVID DAIRY
• Transitioning from family owned business culture to a corporate structure
• Milk pool +10% and further growth in line with expectations towards 30ML
• Brand relaunch, resetting premium prices and resetting of relationships with retailers
• Strong growth expected from FY19 and beyond
• Acquisition completed 1 August 2018
• Internal management results ahead of expectations
• Progressing transformational change to create a profitable and sustainable business
• +11% sales growth in H2 FY18
MAGGIE BEER
CORPORATE
• Building foundations of premium food group having carefully acquired two high quality businesses
• Appointed a strong, dynamic and capable executive team
• Financial results reflect period of transition as operational capability is enhanced to support strategic growth
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The fourth month of FY19 has continued the positive results of the first quarter. We remain focused on strategic execution.
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All three business strategically delivering for our premium food group
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• National distribution
commenced with
distributors in November
2018.
• Metcash distribution
commenced last week.
• Distribution in SA of new
range is now fully
executed
• New marketing campaign
commencing week 1
December 2018
• Year to Date net sales
ahead of same time last
year by 12%.
• Continuation of positive
EBITDA into October and
performing ahead of
expectations
• Positive signs as we enter
the final months of 2018
calendar year, as
expected given strong
seasonal impact of
Christmas/Holiday period.
• Increased sales by more
than 35% for first four
months of FY 19 trading
vs last year.
• 48 new customers since
acquisition
• Adelaide and Sydney
opportunities in
development for execution
in early 2019.
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St David Dairy continues to show positive growth, reflecting its appeal to a discerning group of restaurants, cafes, and consumers
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Sales growth through new customers has been a core growth driver
• Sales growth a combination of increase in customers and strong demand for products
• Milk sales have increased 23% compared to four months same time last year (four months to October 2018)
• Butter sales have increased by 160% compared to same time last year (four months to October 2018)
• Sydney project remains on-foot and we have seen good growth from our existing distributor in the intervening period.
• We continue our modelling on the St David Dairy Adelaide Hills project ready for launch in the new year.
Sales growth expected to continue with new customer acquisition
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The St David Dairy brand promise – locally produced, single source milk, brilliant customer service and attention to detail – speaks for itself. It’s important for us to reinforce its credentials with subtly and creativity
St David Dairy - keeping marketing supportive
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Recently developed and soon to be launched :
- New/updated product Brochure
- New Postcards for use in stores
- New in-store promotional material such as fridge stickers
- Launch of Instagram campaign showcasing some of our favorite customersF
or p
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nal u
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Working with our customers, café’s and restaurants to create great experiences
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stdaviddairy • Follow
St David Dairy
stdaviddairy Have you met Georgia???
Georgia puts the WIN in our retail shop
window!
!
Open 6.30am to 6.00pm Monday through
Thursday & 6.30am – 5.30pm Fridayʼs. This
is your one stop shop for all your dairy
needs in Fitzroy!
"
#stdaviddairy #fitzroydairy #microdairy
#legendairy #livingthecream #ihaveacream
#goodvibesonly
✌
kateshanasy
$ $ $ $ $ $
OCTOBER 24
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On track to deliver revenue growth through distribution gains and new customers across Australia
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Since the re-launch of the brand in SA market we have focused on retaining customers and guiding them through the changes in packaging and pricing.
On track to fully execute Eastern Seaboard and WA market opportunities by mid-January
South Australian Ranging – More than 200 stores in SA
• Coles SA ranging Milk, Cheese and Yogurt
• Woolworths SA ranging Milk, Cheese and New Yogurt lines
• Independents in SA including Drakes and Romeos with many ranging ALL of the new products in their stores
• In-store promotional material has had a significant benefit to improving customer awareness of the change of packaging
National Ranging – aiming for more than 750 stores over coming months
• Distributors in WA, QLD, NSW and Victoria have commenced roll out of new products in premium independent, wellness and organic stores eg David Jones, Leo’s Fine Food and Wine, Terra Madre, Flannery’s
• Deliveries to Metcash commenced last week, with execution at store level by mid-January
• Woolworths have decided to range a core of our premium Cheese products nationally in 170 premium format stores, commencing mid-December
Paris Creek Farms – Continuing our distribution push
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Having successfully launched our new products and extending distribution beyond SA, our priority turns to execution of a simple, cost effective marketing program
1. Awareness campaigns targeting existing customer
•Focus on transition to new packaging and new branding
•Use of local media assets including instore promotion material, street media, buses, digital media
2. Awareness campaigns targeting new customers
•Focus on new brand launch and point of difference in biodynamic organic dairy in new markets
•Using street media/billboards, digital media and social media
3. Building knowledge of Bio-dynamic – organic farming
•Vitality and knowledge of bio-dynamic organic farming through PR digital campaigns, website, editorial content
Launching our marketing plan to drive awareness and increase penetration
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10
posts
1,037
followers
22
following
Paris Creek Farms
Paris Creek Farms is one of Australia's finest producers of award-winning bio-dynamic organic dairy
products based in South Australia.
www.pariscreekfarms.com.au
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pariscreekfarms • Follow
pariscreekfarms How do you know if bio-
dynamic farming is better?
Farmers who have switched to bio-dynamic
farming admit it works. Sometimes they
donʼt quite know why, but you canʼt argue
with the healthy soil and animals and the
scrumptious produce.
#ParisCreek #BDFarmsParisCreek
#ParisCreekFarms #BiodynamicDairy
#OrganicDiary #CertifiedOrganic
#SouthAustralia #SAFarmers
7 DAYS AGO
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10
posts
1,037
followers
22
following
Paris Creek Farms
Paris Creek Farms is one of Australia's finest producers of award-winning bio-dynamic organic dairy
products based in South Australia.
www.pariscreekfarms.com.au
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pariscreekfarms • Follow
pariscreekfarms A wonderful new treat is
in-store! Try our new and delicious Paris
Creek Farms organic pot set yogurt range!
Creamy in texture made with 100% bio-
dynamic milk and with real organic fruit,
how could you resist?! #SouthAustralia
#SupportSouthAustralianFarmers
#BiodynamicMilk #SAFarmers
#BiodynamicDairy #BiodynamicFarming
#ParisCreek #yogurt #biodynamicyogurt
sarah_anne2407 Where can you buy in
Perth
misskit ty1171 @pariscreekfarms do you no
OCTOBER 23
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Focus in SA on transitioning to the new brand with targeted marketing messages
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Our dedicated team at Paris Creek Farms have continued to deliver premium quality products while delivering operational improvements at the facility
• Successfully transitioned from former products to new products in a complex transition period.
• Volume of milk processed up 9% compared to same time last year
• Teams continue to look for operational improvements to waste and other internally controllable costs
• Milk supply continues to meet requirements
Continuing to improve operational efficiencies to deliver improved margins
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PA RI S CREEK FA RM S | or igin al yogur t r ange soft cheese r ange | PA RI S CREEK FA RM S 9
BIO- DYNAM IC CAM EM BERT
If Brie is the little black dress of cheeses, then Camembert
is the smart suit. More reserved, if left out long enough,
Camembert may be squeezable, but she won’ t go all
gooey like her sister Brie! Our Bio-dynamic Camembert is
a traditional style of French Camembert cheese made with
certified bio-dynamic organic milk. This cheese has a soft
texture and an edible rind that you just must eat. And of
course it carries that distinctive earthiness we love!
Code 602A Size 200g Units/Box 6
BIO- DYNAM IC TRIPLE CREAM
DOUBLE ASH BRIE
Our Bio-dynamic Triple Cream Double Ash Brie is a rich, creamy
cheese in the classic Brie style. Made with certi fied bio-dynamic
organic milk and cream, this extraordinary cheese contains two
layers of natural vegetable ash. One is dusted on the outside
and one through the centre to be sure it imparts that extra mile
of strong smoky flavour and aroma to your cheese platter.
Code 639A Size 250g Units/Box 6
BIO- DYNAM IC TRIPLE CREAM CAM EM BERT
Want your cheese to make a statement? Our Bio-dynamic
Triple Cream Camembert gets is dreamy, creamy texture from
our certified bio-dynamic organic milk and plenty of cream!
This cheese has a delicate mushroom flavour and it keeps
getting better with age, just like a good wine.
Code 607A Size 280g Units/Box 6
BIO- DYNAM IC TRUFFLE BRIE
Our Bio-dynamic Truffle Brie is made with certified bio-
dynamic organic milk. This cheese has the soft characteristic
texture of true Brie and contains a layer of fine black truffle
that gives this cheese its forest-floor aroma and unique flavour.
Code 618A Size 200g Units/Box 6
BIO- DYNAM IC TRIPLE CREAM
DOUBLE TRUFFLE BRIE
This one really is for truffle lovers! Our Bio-dynamic Triple
Cream Double Truffle Brie is a rich, creamy cheese in the
classic Brie style. Made with certi fied bio-dynamic organic milk
and cream. But we’ve indulged ourselves with two layers of
black truffle that deliver an intense and unmistakable truf fle
flavour. Stronger than our Truffle Brie!
Code 614A Size 250g Units/Box 6
• Former in-conversion organic-biodynamic farmer now fully certified, meaning 100% of milk intake currently biodynamic-organic.
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We continue to see pleasing turnaround signs at Maggie Beer Products since the first quarters positive results
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The Maggie Beer Team have executed consistently and with precision against their recent strategic refresh
• Maggie Beer Products continue to demonstrate signs of a strong turnaround
• Profitable EBITDA results continued into October 2018 from the first quarter’s
• Brand is positioned to be able to deliver compelling results for the last two months of the first half of FY 19
Strong turnaround continues
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• Sales of fruit pastes, pates and cheeses have been strong and this should continue through the festive and holiday season
• Business continues to leverage the iconic Maggie Beer identity with opportunities for new product development
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YTD Group performance in line with internal expectations with balance sheet supporting investment phase
• FY19 is a year of transition and growth as we invest in the business to underpin the long term growth of a portfolio of iconic Australian and international premium food brands
• During both the St David and Paris Creek acquisitions, sufficient capital was raised to acquire the businesses and provide the required working capital to support our current investment phase that underpins our growth strategy
• YTD performance of each business is in line with internal expectations, and we are well positioned to deliver growth for our customers and shareholders
FY 19 YTD delivering on plan – well placed to grow
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Longtable Group has invested in strategically positioned brands that meet the high expectations of consumers for premium quality, healthful products.
The brands in the portfolio remain a compelling opportunity for growth in domestic markets through distribution gains and export markets which are new and emerging sectors.
We continue to develop cross-business opportunities to bring group synergies and develop new products that meet the changing demands of consumer for functional, healthy foods.
We have ambitious plans for our future, and look forward to sharing that journey with you.
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