Fuller, Smith & Turner P.l.c. Class A · LSE:FSTA
Fuller, Smith & Turner P.l.c. Class A — Shareholder Meeting (July 2012)
34 slides from Fuller, Smith & Turner P.l.c. Class A's shareholder meeting presentation, Jul 18, 2012
Slide 1: Fuller, Smith and Turner PLC Annual General Meeting
Fuller, Smith and Turner PLC Annual General Meeting 18th July 2012
Slide 2: Consistent Strategy
Consistent Strategy Fundamental objective to maximise shareholder returns by generating high quality, sustainable earnings • Long term focus • Culture of style not fashion • Passion for quality • Premium positioning • Pride in our brands • Continue to expand the business
Slide 3: Financial Highlights
Financial Highlights 52 weeks (2012) vs 53 weeks (2011) • Adjusted EPS up 7% to 39.82p • Revenue up 5% to £253.0m • Adjusted PBT up 3% to £30.3m • EBITDA up 3% to £47.8m • Final dividend up 8% to 7.60p – Total dividend up 7% to 12.65p • Net debt / EBITDA at 2.7x on a pro forma basis
Slide 4: Corporate Progress
Corporate Progress • 30 pub acquisitions completed since last year end • Managed Pubs and Hotels LFL sales up 4.2% • Tenanted Inns profits up 4% • Beer Company profits up 2% • All business segments in growth • Divisional Managing Directors in place Profit measures are operating profits excluding exc
Slide 5: Adjusted Profits
Adjusted Profits 29.3 30.3 30 26.6 25 23.0 22.8 20 £m 15 10 5 +4% -1% +17% +10% +3% 0 2008 2009 2010 2011 2012 Adjusted profits are profits before tax excluding exceptional items 2011 was a 53 week period
Slide 6: Adjusted EPS
Adjusted EPS 39.8 40 37.4 35 34.2 29.2 29.1 Pence per 40p share 30 25 20 15 10 5 +6% level +17% +9% +7% 0 2008 2009 2010 2011 2012 Excluding exceptional items 2011 was a 53 week period
Slide 7: Full Year Dividends 1974 - 2012
Full Year Dividends 1974 - 2012 14 12 Pence per 40p share 10 8 6 4 2 0 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
Slide 8: Beer Duty
Beer Duty Five year increase of 45% 54.5 55 51.9 Pence per pint of London Pride* 50 47.4 45 44.1 41.0 40 35 30 25 +9% +8% +7% +9% +5% 20 Mar 08 Apr 09 Mar 10 Mar 11 Mar 12 * Pence figures are for a 4.1% ABV beer and include the VAT paid on top of the duty rate
Slide 9: Share Price Performance: FST versus peer group
Share Price Performance FST versus peer group
Slide 10: The Fuller's Beer Company
The Fuller’s Beer Company \
Slide 11: Investing In Our Range
Investing In Our Range : . q i ‘* |
Slide 12: Slide 12
Slide 13: Slide 13
Slide 14: Pub Acquisitions – Development Opportunities
Pub Acquisitions – DevelopmentLooked Opportunities a mess from back of Hock Cellar
Slide 15: Our Increased Estate
Our Increased Estate • Fuller’s existing estate • Acquisitions made in 2011/12
Slide 16: My favourite Londoner.
My favourite Londoner.
Slide 17: My favourite Londoner.
My favourite Londoner.
Slide 18: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 1 Total Votes For 105,407,631 99.99% Total Votes Against 5,800 0.01% Total Votes Cast 105,413,431 Votes withheld * 41,266 * Not a vote in law so not included in percentage calculation
Slide 19: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 2 Total Votes For 105,453,284 100.00% Total Votes Against 653 0.00% Total Votes Cast 105,453,937 Votes withheld * 761 * Not a vote in law so not included in percentage calculation
Slide 20: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 3 Total Votes For 105,440,611 99.99% Total Votes Against 13,980 0.01% Total Votes Cast 105,454,591 Votes withheld * 107 * Not a vote in law so not included in percentage calculation
Slide 21: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 4 Total Votes For 104,828,425 99.96% Total Votes Against 38,903 0.04% Total Votes Cast 104,867,328 Votes withheld * 586,846 * Not a vote in law so not included in percentage calculation
Slide 22: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 5 Total Votes For 105,398,461 99.95% Total Votes Against 54,180 0.05% Total Votes Cast 105,452,641 Votes withheld * 2,057 * Not a vote in law so not included in percentage calculation
Slide 23: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 6 Total Votes For 99,704,770 94.84% Total Votes Against 5,429,153 5.16% Total Votes Cast 105,133,923 Votes withheld * 3,419 * Not a vote in law so not included in percentage calculation
Slide 24: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 7 Total Votes For 105,071,067 99.99% Total Votes Against 6,254 0.01% Total Votes Cast 105,077,321 Votes withheld * 60,021 * Not a vote in law so not included in percentage calculation
Slide 25: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 8 Total Votes For 105,086,488 99.96% Total Votes Against 40,517 0.04% Total Votes Cast 105,127,005 Votes withheld * 10,337 * Not a vote in law so not included in percentage calculation
Slide 26: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 9 Total Votes For 101,219,410 99.97% Total Votes Against 34,735 0.03% Total Votes Cast 101,254,145 Votes withheld * 4,200,553 * Not a vote in law so not included in percentage calculation
Slide 27: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 10 Total Votes For 103,777,410 99.95% Total Votes Against 49,641 0.05% Total Votes Cast 103,827,051 Votes withheld * 1,627,647 * Not a vote in law so not included in percentage calculation
Slide 28: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 11 Total Votes For 105,113,612 99.99% Total Votes Against 12,781 0.01% Total Votes Cast 105,126,393 Votes withheld * 328,305 * Not a vote in law so not included in percentage calculation
Slide 29: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 12 Total Votes For 105,445,338 99.99% Total Votes Against 7,373 0.01% Total Votes Cast 105,452,711 Votes withheld * 1,987 * Not a vote in law so not included in percentage calculation
Slide 30: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 13 Total Votes For 104,911,586 99.50% Total Votes Against 532,432 0.50% Total Votes Cast 105,444,018 Votes withheld * 10,280 * Not a vote in law so not included in percentage calculation
Slide 31: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 14 Total Votes For 105,330,545 99.91% Total Votes Against 95,003 0.09% Total Votes Cast 105,425,548 Votes withheld * 29,149 * Not a vote in law so not included in percentage calculation
Slide 32: Proxy Voting Results
Proxy Voting Results Annual General Meeting Resolution Number: 15 Total Votes For 105,340,096 99.89% Total Votes Against 111,632 0.11% Total Votes Cast 105,451,728 Votes withheld * 2,970 * Not a vote in law so not included in percentage calculation
Slide 33: Slide 33
Slide 34: Slide 34
Fuller, Smith & Turner — Shareholder Meeting (July 2012) on 6ix