Investor Presentaiton
(>
。 Operating cashflow of $114.6m. Another solid result and in line with
PY (after adjusting for a tax payment). 2H working capital inflow
$19.5m consistent with Costa's normal cycle.
。 $23.1m tax payments. This returns to a normal cycle after impact of
CY19.
Cash Flow
A$m
EBITDA-S
Payment for Leases
EBITDA-S, Less Payment for Leases
Less: share of JV profit
CY21
CY20
Var
Key Highlights
218.2
197.2
21.0
(61.5)
(52.6)
(8.9)
156.7
144.6
12.1
(9.9)
(9.1)
(0.8)
Dividends received from JV's
4.2
4.2
0.0
Borrowing Costs (excluding amortised costs)
(6.3)
(7.5)
1.2
Movement in working capital / non-cash items
(6.9)
5.4
(12.3)
Tax (Payment)/Refund
(23.1)
0.3
(23.4)
Cashflow from operating activities
114.7
137.9
(23.2)
Operating capex
(43.2)
(28.6)
(14.6)
Productivity & growth capex
(84.4)
(50.3)
(34.1)
Payments for business acquisitions (Incl. material items)
(291.4)
(291.4)
Other
1.0
1.1
Cashflow from investing activities
(418.0)
(77.8)
(0.1)
(340.2)
Payment for Dividends
(38.6)
(24.0)
(14.6)
Issue of Shares (Net of Transaction Costs)
185.2
(0.3)
185.5
Loans and Advances
1.7
0.0
1.7
Cashflow from financing activities
148.3
(24.3)
172.6
Net Debt Movement
CY21 Results
Presentation
(155.0)
35.8
(190.8)
Driscoll's Kalady fingers
African Blue
Mono's nest huebesis
Only the Finest Berries
o Operating CAPEX of $43.2m, above PY after 1HCY20 impacted by
decision to manage in early stages of COVID-19. Given expanded
portfolio, expect CY22 to be in range of $55m to $60m.
。 Growth CAPEX of $84.4m includes continuation of International
expansion ($24.8m); completion of Tomato GH4 ($27.1m) and
Avocado protected substrate trellis crop program ($10.9m).
。 Business acquisitions during the period: 2PH acquisition
($237.0m); KW Orchards ($40.7m) and Select Fresh ($13.7m).
o Equity raise in June/July - $185.2m to fund 2PH acquisition.
LOVACADO.
Aussie avos. From Costa.
MUSH
BOOM!
TO THE
RESCUE
Perino 2.P.H. Vitor
itor
13
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