Investor Presentaiton
32.5
100.9
27.0
Biological assets
58.3
1.7
16.0
Equity accounted investments
21.6
Intangibles
209.5
7.9
17.9
Property, plant & equipment
515.7
30.3
180.0
Right of use asset
302.8
37.8
Other assets
37.2
1.5
1,305.3
19.9
253.2
135.1
Borrowings
176.3
41.6
29.0
Provisions
30.9
0.1
0.3
Lease liabilities
318.1
37.8
Pro forma balance sheet
As at 27 December 2020
($million)
Cash & cash equivalents
Receivables
Inventories
Total Assets
Payables
Costa Statutory
(Audited per
Annual Report)
Post balance date
adjustments¹
(20.0)
Estimated impact
of Acquisition &
Offer²
Pro forma
(completion of the
Offer)
Commentary
(
Pro forma balance sheet shows the impact of post balance sheet adjustments and the
estimated impact of the Acquisition and the Offer, on the 27 December 2020 Costa balance
sheet
The following adjustments have been made:
payment of CY20 final dividend of $20m; and
acquisition of KW citrus orchards in Sunraysia of $41.6m including transaction costs.
Acquisition balance sheet remains subject to a final PPA exercise.
Estimated impact of the acquisition and the Offer, including:
raising equity of $190m as a result of the Offer;
debt drawings of $29m under the Existing Banking Facilities;
payment of transaction costs of $19m;
upfront consideration payment of $200m remains subject to final customary purchase
price adjustments at transaction Completion and excludes the potential future acquisition
of Conaghans in July 2023 for $31 million; and
recognising the assets and liabilities of 2PH on a provisional basis with a final PPA still to
be performed.
Pro forma estimated and unaudited Jun-21 leverage*
12.4
100.9
27.0
76.1
21.6
235.3
1.
Post balance sheet adjustments include:
726.0
340.6
38.6
2.
1,578.4
135.1
247.0
31.3
355.9
Other liabilities
28.4
13.7
42.1
Total Liabilities
688.8
41.7
80.8
811.3
Net assets
616.6
(21.9)
172.4
767.1
($ million)
30 June 2021
estimate (unaudited)
Estimated impact of
the Acquisition and
Offer
Share capital
580.7
186.6
767.3
Reserves
8.2
(21.9)
(14.2)
(27.8)
Net debt
Equity attributable to owners of the parent
Non-controlling interests
589.0
(21.9)
172.4
739.5
Net debt/EBITDA-SL
211^
~1.4x
29
Pro Forma 30 June
2021 estimate
(unaudited)
240
~ 1.4x
27.6
27.6
Notes:
Total equity
616.6
(21.9)
172.4
767.1
ara
Costa Group Holdings Limited
African Blue
Morocco's nest bluebenes
Driscoll's lady fingers
Only the Finest Berries™
* Presented on a pre-AASB16 basis and assumes 2PH CY21 earnings on a pro forma basis
^ Excludes deposit to be paid on 2PH acquisition of approximately $9 million
LOVACADO.
Aussie avos. From Costa.
MUSH
BOOM!
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
TO THE
Perino Vitor
AUSTRALIA'S BEST
itor
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RESCUE
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