Noumi Limited · ASX:NOU
Noumi — Shareholder Meeting (November 2022)
27 slides from Noumi's shareholder meeting presentation, Nov 29, 2022
Slide 1: 2022 Annual General Meeting Presentation and Addresses
Noumi Limited 80 Box Road Taren Point NSW 2229 Australia ABN 41 002 814 235 For personal use only 29 November 2022 ASX Market Announcements ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 2022 Annual General Meeting Presentation and Addresses Noumi Limited (ASX: NOU) provides the follow
Slide 2: Noumi Limited 2022 Annual General Meeting
For personal use only Noumi Limited 2022 Annual General Meeting 29 November 2022
Slide 3: Important notice and disclaimer
Important notice and disclaimer Summary Information Only For personal use only This presentation criteria contains general information about Noumi Limited and its consolidated entities (“Noumi Limited”) and its activities current as at the date of this presentation. It is provided in summary and doe
Slide 4: Introduction
For personal use only Introduction Chair: Genevieve Gregor Noumi Limited | 2022 Annual General Meeting 3
Slide 5: Agenda
Agenda For personal use only INTRODUCTION 01 CHAIR’S ADDRESS 02 CEO’S ADDRESS 03 FORMAL BUSINESS 04 CLOSING REMARKS 05 Noumi Limited | 2022 Annual General Meeting 4
Slide 6: Chair's Address
For personal use only Chair’s Address Genevieve Gregor Noumi Limited | 2022 Annual General Meeting 5
Slide 7: FY22 puts Noumi firmly in the Transform phase
FY22 puts Noumi firmly in the Transform phase For personal use only FY21 FY21-23 FY23-25 RESET TRANSFORM GROW The financial, structural, operational and Actions to Transform the Company are Those improvements provide the cultural Reset of the Company was underway, with operational springboard to Gro
Slide 8: The Healthier Tomorrow Plan
The Healthier Tomorrow Plan We aim to continuously improve our environmental For personal use only footprint for future generations. Focus areas Waste and Packaging We aim to create • We are minimising the waste we products and offer generate, maximising recyclable resources to improve materials and
Slide 9: CEO's Address
For personal use only CEO’s Address Michael Perich Noumi Limited | 2022 Annual General Meeting 8
Slide 10: Encouraging result in complex trading conditions
Encouraging result in complex trading conditions MILKLAB leads strong Plant-based Beverages growth outcome For personal use only Reset, Transform, Grow strategy delayed by COVID-19, rising > inflation and geopolitical uncertainty Plant-based Beverages a standout performance, with revenue up > 7% and
Slide 11: FY22 Financial & Operating Metrics
FY22 Financial & Operating Metrics For personal use only 4.6% 3.4 % $522.3m 89.7ML 15.7% 130.4ML 2 Net Revenue Plant-based sales 68% 3.8% Total export sales $7.3m 246.3ML 18.7% Adj Op EBITDA 1 Dairy UHT sales 49.8ML n.m. MILKLAB sales 23.3% $161.1m 21T Statutory Lactoferrin sales net l
Slide 12: FY22 Strategy Achievements
FY22 Strategy Achievements For personal use only ‘Reset, Transform, Grow’ transformation program that will return the Company to long-term, sustainable and profitable growth ✓ Reset Achievements - include US litigation settlement, Sale of Specialty Seafood and sale of shareholding in AFMH ✓ Transfor
Slide 13: Strategy | Plant-based Beverages
Strategy | Plant-based Beverages Focus Areas For personal use only Continued expansion into high potential markets, with > particular focus on Southeast Asia Leveraging investment in out-of-home direct sales force to > build market share Build on MILKLAB's growing consumer popularity in the out-of-
Slide 14: Strategy | Dairy & Nutritionals
Strategy | Dairy & Nutritionals Focus Areas For personal use only Work co-operatively with farmers to negotiate contracts to > address farmgate raw milk costs Continued focus on margin growth through waste reduction > and other operational efficiencies Sales focus on Consumer Nutritionals through hi
Slide 15: Key drivers of potential future profitability
Key drivers of potential future profitability Focus Areas For personal use only Operational turnaround initiatives critical to improving > processes > Optimising geographic mix in a differential margin structure Continue investment in the field force important in > maintaining market share and drivi
Slide 16: Our People
Our People Focus Areas For personal use only > Embedded our core values across the business Focused on our teams safety during both the pandemic and > the recent floods across Northern Victoria Co-located support office with the operational team at > Ingleburn, further enhancing our collaboration In
Slide 17: Trading Outlook
Trading Outlook For personal use only Dairy remains in Plant-based Beverages Floods through Eastern transformation phase – firmly established in growth Australia, especially in rebuilding margins a priority phase Northern Victoria have plus embedding FY22 caused disruption in Q2 Strong brand foundat
Slide 18: Formal Business
For personal use only Formal Business 17
Slide 19: For personal use only
For personal use only 18
Slide 20: Chair and CEO Addresses: Introduction
Noumi Ltd 2022 Annual General Meeting Chair and CEO Addresses For personal use only Introduction Ladies and Gentlemen, good morning. It is now 11:00am and I have been informed by the Company Secretary that a quorum is present and so I declare the 2022 Annual General Meeting of shareholders of Noumi
Slide 21: Chair's Address: resolutions and re-election of directors
The first resolution, which is non-binding, relates to the adoption of the Remuneration Report. As a Board, we align our remuneration to attract and retain the very best talent to serve all stakeholders, including, importantly, you, our shareholders. For personal use only As you know, the Board was
Slide 22: Chair's Address: Plant-based Beverages and Dairy results
We are proud of our Plant-based Beverage business which delivered net revenue growth of 7% to $164 million and a 30% increase in Adjusted Operating EBITDA to $33.4 million at an EBITDA margin of 20%. Both Milklab and Australia’s Own have continued their strong growth as more products and formats bec
Slide 23: Healthier Tomorrow Plan
Healthier Tomorrow Plan One of the most important tasks of the past year was the development of a comprehensive Environmental, Social and Governance strategy to improve Noumi’s ESG performance, reporting and For personal use only profile. In FY22, we launched our Healthier Tomorrow Plan – a strategi
Slide 24: CEO's Address
CEO’s Address Thank you, Gen. As Gen mentioned, this has been a challenging year for Noumi, particularly for our Dairy and For personal use only Nutritionals business, but there are many reasons for optimism about the years ahead. Encouraging Result in Complex Trading Conditions Most importantly, ou
Slide 25: For personal use only
There are a number of highlights I would like to talk through. Regarding the Reset phase, the sales of Noumi’s shareholding in AFMH was completed – funding the US dispute settlement. The earlier sale of Specialty Seafood enables us to focus on the core business. For personal use only Moving into the
Slide 26: For personal use only
It is important to note that these issues are not unique to Noumi. The recent spike in farmgate raw milk prices, driven by domestic competition for milk, has reduced Australia’s competitiveness as a dairy exporter. Noumi expects margins on export sales to remain lower than domestic margins in the me
Slide 27: Trading Outlook
Trading Outlook Turning to our current trading and outlook, our first quarter numbers, released last month, demonstrated the continued strong performance of Noumi’s plant-based beverages business, For personal use only particularly the flagship Milklab brand, as well as the ongoing importance of pas