Robinson Plc · LSE:RBN
Robinson — Shareholder Meeting (May 2019)
23 slides from Robinson's shareholder meeting presentation, May 9, 2019
Slide 1: Welcome to the Robinson plc AGM
Welcome to the Robinson plc AGM 9 May 2019 Strategy into action Building for a sustainable future 1
Slide 2: Disclaimer
Disclaimer The information contained in these slides and any accompanying verbal presentation as well as any question and answer sessions (together, the "Presentation") have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("FSMA"). Reliance
Slide 3: Alan Raleigh, Chairman
3 Alan Raleigh Chairman
Slide 4: Board Team
Board Team Alan Raleigh – Non-executive Chairman Martin McGee – Interim Chief Executive Guy Robinson – Finance Director Mike Cusick – Commercial Finance Director Anthony Glossop – Non-executive Director Sara Halton – Non-executive Director 4
Slide 5: Agenda
Agenda Notice of meeting RESOLUTIONS Auditor’s Report – Louis Burns, Mazars 1. To receive and adopt the report of the directors and 2018 REVIEW the audited financial statements for the year ended 31 December 2018 Business overview – Alan Raleigh • 2018 Highlights 2. To declare a final dividend of 3p
Slide 6: Business Overview & 2018 Highlights
Business Overview & 2018 Highlights • Total revenue in 2018 was £32.8m • Ongoing revenue split: 50% UK 50% CE • Operating profit £1.5m (2017: +15%) • Surplus property estimated market value £10m • Pension fund surplus end 2018 £6.5m 6
Slide 7: Board changes
Board changes • Alan Raleigh appointed non-executive Chairman following May 2018 AGM • Board Evaluation and Strategic Review ➢ Adam Formela left by mutual consent - Nov 2018 ➢ Martin McGee appointed interim CEO – Dec 2018 ➢ Sara Halton appointed non-executive director – Jan 2019 ➢ Mike Cusick, Comme
Slide 8: Governance
Governance • The Board has adopted the QCA Corporate Governance Code ➢ Describes our 10 principles of corporate governance ➢ Follows AIM guidelines ➢ Available on website • New independent non-executive appointed • Review of all company group manuals and policies • Internal board evaluations in plac
Slide 9: Vision
Vision Within 5 years, we are leaders in the plastics circular economy, with revenues in excess of £50 million We participate fully in the plastics circular economy within the Home & Personal Care and Foods sectors • We use the lowest quantity of total plastic and highest-level of post- consumer rec
Slide 10: Strategy into action
10 Strategy into action Martin McGee - CEO
Slide 11: Strategy into action
Strategy into action Our business model is supported by four strategic pillars 11
Slide 12: Sustainability
Sustainability To secure our future, Robinson commits to responsibly manufacture plastic products • In 2018, we recycled 170 tonnes of general waste, and … • We recycle all post-process waste, with 90% recycled in our factories • Currently, we use 30% post-consumer recycled product in blow moulded p
Slide 13: Customer Partnership & Long-term relationships
Customer Partnership & Long-term relationships • We are building a significant portfolio of medium sized and major ‘blue chip’ branded companies • Applying our speed of response & technical expertise to win new business • Offering a range of plastic packaging technology & product solutions at compet
Slide 14: Become more competitive - in Manufacturing & Supply
Become more competitive - in Manufacturing & Supply Brand owners need strategic supplier partners capable of serving all their core consumer markets locally, at the right quality, with on-time delivery and at a competitive cost • Training our employees & recruiting People new skills • Investing £7.6
Slide 15: Business risk identification & mitigation
Business risk identification & mitigation Customer • Implemented improved two-way communication to support Relationships fast response & collaboration • Comprehensive plan to retain and motivate employees People Input price & • Close price tracking & contracted mechanisms for passing on currency mat
Slide 16: 2019 Sales performance so far
2019 Sales performance so far • Sales revenues increased by 15% compared to the first four months of 2018: ➢ Price impact +4% ➢ Currency impact -1% ➢ Underlying volume +12% ➢ Total growth +15% • Margins and operating costs were at a similar level to the same period last year with a consequent increa
Slide 17: Finance
17 Finance Guy Robinson – Finance Director
Slide 18: Five year Income Statement
Five year Income Statement Revenues • increased level of volatility in market • portfolio primed for further growth change • 7% increase in volumes in 2018, value • 12% increase so far in 2019 Gross Margin • margins under pressure in competitive retail market • now stable Operating Costs • increased
Slide 19: Cash Flow
Cash Flow • Capex – continued investment to support profitable business growth • Working capital – moving up with growth and pressure from major customers to extend payment terms • Dividend maintained – only plan to increase when profits allow Net borrowings -4.1 -1.1 -4.9 -6.5 -8.8 Source: Financia
Slide 20: Sale of surplus property
Sale of surplus property Increase cash reserves for reinvestment Surplus properties • Book value £4m (valued end of 2008) - estimated market value £10m+ • Current gross rental income £300k per annum • Expect 100% BPR relief Development Sites • Walton Works (8 acres) • active discussions with interes
Slide 21: Pension Fund
Pension Fund • Defined benefit scheme closed to new entrants in 1997 • Assets £61m • IAS 19 surplus of £6.5m (at 31 Dec 2018) • Escrow account has £3.1m - £2.7m loaned to Company • Intention to buy-out when market conditions allow 21
Slide 22: Outlook
Martin McGee - CEO Outlook 22
Slide 23: Outlook
Outlook Continuing to reinforce and evolve our ‘Strategy into action’ programme • Increased active participation in the plastics circular economy • Development of our people • Significant new business won • Increased collaboration and partnership with customers • Improving customer relationship mana