Strategic rationale for the acquisitions
Superior Food financial performance
Track record of strong financial performance including top line growth
Consistent track record of sales growth since
founding driven by organic growth + acquisitions
Superior Food sales 1,2,3 ($m)
21% CAGR / 13% CAGR (organic only)
Focus on higher margin foodservice opportunities
driving stable and attractive gross margins
Superior Food Gross Profit and margin 1,2,3 ($m)
286
10% CAGR
9% CAGR
Margins are accretive to existing
Metcash Food margins
Superior Food EBITDA (pre-AASB16) and margin 1,2,3 ($m)
11% CAGR
227
46
216
44
1,330
211
1,235
1,271
40
190
37
1,107
17.1%
17.1%
17.0%
17.0%
3.4%
3.5%
3.4%
3.2%
FY16A
FY22A
FY23A Oct-23 LTM FY24E
FY22A
FY23A
Oct-23 LTM
FY24E
FY22A
FY23A
Oct-23 LTM
FY24E
1.
2.
3.
Superior Food results are presented in relation to years ending 30 June (except as noted for the 12 months ended October 2023 (Oct-23 LTM)) and are sourced from Superior Food's management results.
FY24E represents Superior Food's underlying actual results for the six months ended December 2023 plus Superior Food's underlying budget for the six months ending June 2024.
Financial information is presented on a pro forma basis, comprising certain normalisations and annualisation adjustments (including annualising for acquisitions and other changes that have occurred part way through a financial year). All financial information is presented
prior to Metcash purchase price acquisition adjustments. EBITDA represents Underlying EBITDA (pre-AASB16 basis).
Metcash
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
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