Strategic Financial Overview
Profit & Loss
$ millions
Jun-18
Jun-17
Variance
%
Poultry volumes (kt)
505.3
495.3
10.0
2.0
Feed volumes (kt)
504.7
565.2
(60.5)
(10.7)
Total Revenue
2,373.9
2,383.9
(10.0)
(0.4)
Gross Profit
476.9
456.8
20.1
4.4
GP%
20.1%
19.2%
0.9
Underlying EBITDA
208.9
195.0
13.9
7.1
Underlying EBITDA %
8.8%
8.2%
0.6
EBITDA
212.0
195.0
17.0
8.7
Depreciation & Amortisation
(45.4)
(41.6)
(3.8)
(9.1)
EBIT
166.6
153.4
13.2
8.6
Net financing costs
(15.2)
(16.3)
1.1
6.7
Tax expense
(36.8)
(35.1)
(1.7)
(4.8)
NPAT
114.6
102.0
12.6
12.4
Underlying NPAT
Restructuring / POSA
Earnings per share (cents)
112.5
102.0
10.5
10.3
3.1
30.8
27.4
3.1
3.4
12.4
Note: Total Poultry volumes includes core chicken and turkey products in addition to ingredients
Note: FY17 pro forma based on 52 weeks. A reconciliation between FY17 pro forma and statutory results is included in the Appendix
INGHAM'S
Heart of the Table
Volume and Revenue Growth
> Continued growth in core poultry volume +3.2%
(excluding ingredients)
1H v 2H seasonality impact particularly evident in
Australia
Gross Profit +4.4%
> Improvement in gross margin reflective of initiatives
and the successful pass through of cost increases
Depreciation & Amortisation +9.1%
Increase reflective of capital investment over recent
years
Net financing costs +6.7%
Reduction due to investment of cash balances
partly offset by funding cost of capital investment
Tax expense -4.8%
Increase in income tax due to profit on sale of
assets partially offset by one off historical tax credit
of $3.1m
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