Fevara Plc · LSE:FVA
Fevara — Carr's Group — Corporate Update (December 2022)
10 slides from Fevara's corporate update, December 2022
Slide 1: Investor Update December 2022
IN VESTOR U PD ATE December 2022
Slide 2: Agenda
AGENDA • Strategic Review • Carr’s Billington Agriculture (CBAL) Disposal • Continuing Group • Trading Update • FY22 Audit Status • A Refreshed Board • Summary and Outlook 2
Slide 3: Strategic Review – Enhancing Shareholder Value
STRATEGIC REVIEW – ENHANCING SHAREHOLDER VALUE DEMONSTRABLE PROGRESS MADE… REVIEW PROCESS ✓ Announced January 2022 1 POSITION PRE-STRATEGIC REVIEW • A portfolio of businesses • ✓ Reviewed all options for each division, with a focus on Limited synergy between Speciality Agriculture and Agricultural S
Slide 4: Carr's Billington Agriculture Disposal
CARR’S BILLINGTON AGRICULTURE DISPOSAL • Completed in October 2022 for initial cash proceeds of £24.7m • Valuation in line with market peers • Various elements to gain further value include potential sale of properties over 3 years • CBAL represented 75% of Carr’s Group reported turnover for 25% of
Slide 5: Carr's Group - The Continuing Business
CARR’S GROUP - THE CONTINUING BUSINESS The continuing Group has market leading brands and robust market positions in Agriculture and Engineering supplying customers in over 50 countries, with manufacturing sites in the UK, Germany and the USA, managed in two divisions: Speciality Agriculture and Eng
Slide 6: Trading Update (Nov-22) - In-line with Expectations
TRADING UPDATE (NOV-22) - “IN-LINE WITH EXPECTATIONS” • FY22 (ending August) was ahead of prior year, in line with Board expectations • For continuing operations, FY22 − Speciality Agriculture adjusted PBT ahead of expectations, marginally below prior year due to USA drought and timing of raw materi
Slide 7: FY22 - Audit Status
FY22 - AUDIT STATUS • Audit delay announced November 2022 • Grant Thornton first year as auditor • Precedent of relying on statutory auditor for 49% owned CBAL Operations • GT decided, during the audit, that statutory auditor of CBAL Operations not independent to audit a Significant Component of a P
Slide 8: A Refreshed Board - Set to Deliver Long-Term Ambitions
A REFRESHED BOARD - SET TO DELIVER LONG-TERM AMBITIONS “Ensuring that the Board and senior management team possess the right balance of skills, experience and knowledge to support the Group’s strategy and to meet the requirements of good governance” • Non-Executive Chair: Tim Jones to join the Board
Slide 9: Summary and Outlook
SUMMARY AND OUTLOOK SUMMARY • Strategic review progressing to enhance long-term shareholder value. • “Right price, right time and right buyer for the Agricultural Supplies division” - disposal of interests in Agricultural Supplies division completed Oct-22, on favourable terms and ultimately providi
Slide 10: Disclaimer
DISCLAIMER This presentation contains confidential information regarding Carr’s Group plc (the "Company"). This presentation, and any ancillary documents relating to it, any oral presentation and any question and answer session (together, the "Materials") have been prepared and issued by and are the