Sanford Limited · NZX:SAN
Sanford — Shareholder Meeting (2021)
14 slides from Sanford's shareholder meeting presentation, 2021
Slide 1: Annual Shareholders Meeting 2021
ANNUAL SHAREHOLDERS MEETING Sanford Chair: Sir Rob McLeod 2021
Slide 2: Sanford Directors
SANFORD DIRECTORS Sir Robert McLeod Mark Cairns Peter Cullinane Abby Foote Peter Goodfellow Peter Kean Fiona Mackenzie s SANFORD
Slide 3: 2021 in Summary
2021 IN SUMMARY A second consecutive year of Covid-19 impacts. Revenue and profitability significantly affected. Signs of recovery in late FY21 across wildcatch and salmon divisions. Mussel performance has lagged in recovery. 3
Slide 4: FY21 Results Snapshot
FY21 RESULTS SNAPSHOT A continuation of the impacts of Covid-19 1 Catch/Harvest Volume Sales Volume Revenue Adjusted EBIT 103.0k GWT 113.5k GWT $489.6M $23.3M -8.2 % + 7.4% 4.4% -39.1 % EBIT GW kg Adjusted EBITDA1 NPAT2 EPS No Final Dividend 21₵ $52.6M $16.2M 17CPS -15₵ /kg -20.6% -16.5% -3₵ Flat 1.
Slide 5: Dividend
DIVIDEND We are disappointed not to be paying a dividend in FY21. Prudent action under current conditions. Intention is to resume dividend payments as soon as it is feasible. 5
Slide 6: Nature of the Recovery
NATURE OF THE RECOVERY • The Board and management agree that the adverse impact of Covid is waning. • We believe that demand conditions will return to pre-Covid levels in the classical U or V formation. We do not predict the future format as a W. 6
Slide 7: Q4 Started to Improve as Global Foodservice Reopened
Q4 STARTED TO IMPROVE AS GLOBAL FOODSERVICE REOPENED Adjusted EBIT by Quarter 30 25 24 22 20 15 15 13 $m 11 10 11 10 9 8 5 4 2 0 Q1 Q2 Q3 Q4 -3 -5 FY 17-19 Avg FY 20 FY 21 7
Slide 8: A Strong Core
A STRONG CORE $23.7m investment in vessel upgrades and refurbishments enabling efficiency and safety. Overall workforce engagement score a positive 76%. Business systems upgrade SanCore will be completed in 2022. 8
Slide 9: Assets and Challenges
ASSETS AND CHALLENGES 9
Slide 10: Strategy
STRATEGY • We are clear on the priorities for the new financial year and what we need to do to recover. • By focusing on the interests of all our stakeholders, we can achieve our goals and create value for all. 10
Slide 11: Management
MANAGEMENT 11
Slide 12: Ngāi Tahu
NGĀI TAHU • In September Ngāi Tahu Investments increased their shareholding in Sanford to 19.9%. • A positive for Sanford. 12
Slide 13: FY21 Integrated Report
FY21 INTEGRATED REPORT Sanford’s FY21 integrated report is available at https://www.sanford.co.nz/investors/ The report outlines Sanford's Business Excellence Framework – this enables each part of the business to map out its role in helping to deliver on our goals We strive to inform in a tran
Slide 14: Thank You
SANFORD THANK YOU.