Investor Presentaiton
Warehouse & Distribution segment
UNITED
MMALT
BUSINESS OPTIMISATION INITIATIVES RESULTING IN SOLID EARNINGS DELIVERY IN RISING COST MARKET
Actual FX
Constant FX
FY22
FY21 % Change
FY21
% Change
8.0%
345.0
3.4%
$m
Revenue
356.6
330.1
Underlying EBITDA
(before one-off
44.6
43.5
2.5%
45.7
(2.4)%
items and SaaS)
EBITDA
40.3
40.8
(1.2)%
43.1
(6.5)%
EBITDA Margin %
11.3%
12.4%
(1.1)pts
12.5%
(1.2)pts
Revenue up 8% to $356.6 million (on constant currency basis,
revenue up 3.4%)
Underlying EBITDA (before one-off and SaaS costs) $44.6m,
slightly below expectations
SaaS costs $3.5 million
Brewers Select business in the UK was divested and impairment
on sale of $0.8 million was recorded as a one-off item
The segment operates on a relatively short cycle and is better
able to maintain margins in an inflationary environment
Craft brewers managing labour shortages at on-premise venues
and cost inflation
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