Investor Presentaiton
Capital Management – Key Measures
-
Balance Sheet (A$ million)
Mar 16
Sept 15
Mar 15
Net debt inclusive of USPP hedge value
326.2
276.9
329.0
Rolling Trade Working Capital (TWC) to sales
15.7%
15.2%
15.3%
Х
Net Debt: EBITDA (times)
1.4
1.2
1.5
EBIT Interest Cover
9.3
9.0
8.7
Cash Flow and P&L (A$ million)
Operating cash flow excluding non-recurring items
Cash conversion excluding non-recurring items
Net finance costs
Average net interest rate
H1 16
H1 15
28.2
38.5
52%
56%
10.6
10.8
4.9%
5.3%
Rolling trade working capital ratio increased due to inventory - ~50% of increase
related to deliberate stock build (new Wash & Wear, strike planning); the rest
related to inventory in businesses impacted by lower revenue (eg. Parchem)
Operating cash flow impacted by tax payment timing ($7M) and TWC (inventory)
Cash conversion of 80%+ targeted for full year
Refer to Appendix for definitions.
DuluxGroup
Imagine a better place
17View entire presentation