Heart of the Table - Financial and Strategy Update
Financial highlights – 1H FY18 vs 1H FY17
Poultry
Volume
Gross
Profit
EBITDA
EBITDA
(underlying)
NPAT
Net debt
EPS
255.2kt
↑ 2.8%
$243.1m
↑ 6.1%
$116.2m
$108.9m
$65.7m
↑ 22.0%
↑ 14.8%
↑ 28.1%
$193.3m
↓104.4m
17.7 cps
> Total Poultry volume growth of 2.8% (core chicken and turkey products grew at 3.7%)
> Revenue fall of 1.7% to $1,206.1m, influenced by reduced third party feed volumes and lag in feed prices
> EBITDA growth of 22.0% to $116.2m
> Underlying EBITDA growth of 14.8% to $108.9m (excluding profit on sale and restructuring)
> NPAT growth of 28.1% to $65.7m
Financial
performance
> Profit on sale of $14.1m in part offset by restructuring initiatives of $6.8m
> Net Cash provided by operating activities excluding interest and tax of $128.4m, 110.5% of EBITDA
> Net Debt of $193.3m (leverage ratio 0.9x)
> Earnings Per Share (EPS) of 17.7 cents
> Interim dividend of 9.5 cents per share (dividend policy remains unchanged)
Note: 1H FY18 numbers are unadjusted statutory results. 1H FY17 numbers are pro forma. A reconciliation between 1H FY17 pro forma and statutory results is included in the Appendix
Note: Total Poultry volumes includes core chicken and turkey products in addition to ingredients
Note: EBITDA refers to earnings before interest, tax, depreciation and amortization. Underlying EBITDA excludes profit on the sale of assets and restructuring cost. A reconciliation of underlying EBITDA to
EBITDA is shown on page 9
INGHAM'S
Heart of the Table
Interim
Dividend
9.5 cps
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