Investor Presentaiton
Financial profile of LD&D
Key financials (LTM Sep-20)
Revenue : $1.6 billion
EBITDA¹ : $56 million
1
Dairy
Farmers
Thick&
Breamy
Creamy LD STRAWBERRY
Thick &
YOGURT
Dairy
Farmers
PRO
BIOTIC
Recent drivers
Historical revenue has been stable at c.$1.6 billion, with earnings
primarily derived from Milk Based Beverages, Yoghurt, Culinary and
Water Ice categories
Milk Based Beverages and Yoghurt accounted for 91% of LTM Sep-20
category contribution of $211 million
White Milk has been historically challenged by suppressed retail
pricing
LTM Sep-20 non-manufacturing overheads, other income and other
expenses amounted to $155 million, excluding $41 million of
depreciation charges²
Historical EBITDA seasonality LTM Jun-20 of 1H: 82% / 2H: 18%
Business positioned to return to EBITDA growth driven by a
combination of continued revenue growth in yoghurt combined with
stabilisation of retail white milk prices and cost-out initiatives
Represents post-AASB 16 pro forma normalised EBITDA, including Vitasoy JV: 49% of NPAT and a management fee. Excludes the impact of synergies
2 Includes AASB 16 depreciation of $13 million
Bega
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