Savor Ltd. · NZX:SVR
Savor — Shareholder Meeting (November 2021)
28 slides from Savor's shareholder meeting presentation, Nov 18, 2021
Slide 1: Savor Limited 2021 Annual Meeting
Savor Limited 2021 Annual Meeting 18 November 2021 1
Slide 2: Welcome & Procedure
Welcome & Procedure – Welcome to Savor’s 2021 AGM – Thank you for joining us virtually today – Shareholders can view the presentations, ask questions and vote on the resolutions on your devices – If you encounter any issues refer to the virtual meeting online portal guide or you can phone the helpli
Slide 3: Questions and Voting
Questions and Voting Questions can be submitted at any time during the meeting and will be answered after the presentation. 1. SELECT ‘ASK A QUESTION’ 2. ENTER YOUR QUESTION 3. PRESS ‘SUBMIT QUESTION’ AND ENTER YOUR DETAILS IN THE BOX TO COMPLETE Voting: You can cast your vote at any time during the
Slide 4: Formal Business and Agenda
Formal Business and Agenda Savor Board representatives are: – Lucien Law and Paul Robinson (Executive Directors) – Ryan Davis and Louise Alexander (Independent Directors) Agenda: – How the business is tracking and COVID-19 impact – Key Priorities for success – Half Year results – Time-line for the y
Slide 5: Chairman's Address
Chairman’s Address Paul Robinson 5
Slide 6: Chairman's Address
Chairman’s Address – Thank you for your patience and sorry we could not hold this meeting in person. It is our expectation that all venues will be open and trading from December 1 so we look forward to seeing you all soon. – The Group performed well and the Hipgroup acquisition exceeded our expectat
Slide 7: COVID-19
COVID-19 – Savor pivoted to an E-Commerce platform which delivered top line revenue of over $130,000 per week. – With stringent capital and cost discipline Savor’s cash burn was on average was $88,000 per week (excluding bank charges) over the lock down to date, with Savor’s cash reserves and balanc
Slide 8: Strategic Priorities
Strategic Priorities Priority 1 Priority 2 Priority 3 Successful execution of Strong Capital Management Growth: business as usual: and Cost Mitigation: – Savor is actively – Get open, get our staff – With the dual headwinds pursuing both organic engaged and get trading. of wage inflation and and ino
Slide 9: Chief Executive Officer's Address
Chief Executive Officer’s Address Lucien Law 9
Slide 10: FY21 Half Year Overview
FY21 Half Year Overview SEPT ‘21 SEPT ‘20 % INCREASE REPORTED REVENUE 17.1M 4.9M 250% REPORTED EBITDA 2.1M 1.0M 110% REPORTED OPERATING CASH FLOWS 1.1M (0.1)M 1200% 10
Slide 11: Timeline of key milestones
Timeline of key milestones MARC H MAY J U LY S E PTE M B E R Capital Raise Board Refresh OJI Sushi Launch of Acquisition Savor Goods via savor.co.nz FE B RUARY APR IL JUNE AUG U ST OCTOB E R Divestment of Hipgroup Distribution Organic growth COVID-19 Moa Brewing Acquisition Acquisition with Bar Non
Slide 12: February
February – Sold loss making Brewery for $1.9m cash after 10 years of meaningful loss. – Divesting the Brewery allowed the Group to dramatically reduce overhead, working capital and allowed us to de-risk and focus on growth. 12
Slide 13: April
April Acquisition of Hipgroup Venues AMANO AMANO BAKE RY TH E STOR E ORTOL ANA – Expanded the Group’s capabilities including bakery & NZ’s most successful all day dining restaurant. – Vastly exceeded expectations. 13
Slide 14: June
June – Acquisition of distribution centre in Kumeu. – Savor now has much more vertical integration with the ability to buy direct, buy local and quality control. – This site also has its own butchery, gelato making and dry goods storage. – We’re seeing considerable savings in our direct purchasing o
Slide 15: July
July – Purchase of OJI Sushi. – OJI is an affordable casual Grab & Go sushi offering that leverages off our Japanese credentials. – The addition of OJI into Savor allows for a potential low cost national roll out with lower labour and build costs to that of our restaurants. – We have expanded OJI in
Slide 16: August
August – We continued our organic growth with the establishment of Bar Non Solo. – An expansion of the iconic NSP establishment in Parnell and has brought a high energy and sophisticated bar into Auckland’s premier dinning district of Britomart. – I believe we have successfully captured the essence
Slide 17: September
September – We launched a new website and e-commerce platform. – The website brings together all the restaurants and into one booking platform and the e-commerce function. – We were extremely happy with the results especially given the conditions we had to operate in. – Since launch of the site duri
Slide 18: Savor venues and brands
OSTRO AZABU MISSION BAY NON SOLO PIZZA BAR NON SOLO ORTOLANA TOMMY’S AZABU PONSONBY AMANO EBISU THE STORE BRITOMART LOBSTER & TAP MARKET GALLEY BANG BANG KITCHEN THE WRECK OJI SUSHI 18
Slide 19: Formalities
Formalities – Election of Ryan Davis – Election of Louise Alexander – Appointment of EY as Savor’s auditor 19
Slide 20: Voting
Voting Voting: You can cast your vote at any time during the meeting when voting opens by: i. Selecting your voting directions from the options shown ii. Your vote has been cast when the green tick appears, and you can iii. Change your vote by selecting ‘change your vote’ 1. SELECT ‘GET A VOTING CAR
Slide 21: Resolution 1
Resolution 1 That Mr Ryan Davis be elected as a Director of the Company. 21
Slide 22: Resolution — Election of Ryan Davis
Resolution 1 — Election of Ryan Davis – Ryan Davis was elected to the Board in April 2021 and therefore offers himself for election by shareholders at the 2021 Annual Meeting. Ryan is currently the Chair of the Audit & Risk Committee and a member of the People & Culture and Remuneration Committees.
Slide 23: Resolution 2
Resolution 2 That Ms Louise Alexander be elected as a Director of the Company. 23
Slide 24: Resolution — Election of Louise Alexander
Resolution 2 — Election of Louise Alexander – Louise Alexander was elected to the Board in April 2021 and therefore offers herself for election by shareholders at the 2021 Annual Meeting. – Louise is currently the Chair of the People & Culture Committee and a member of the Audit & Risk and Remunerat
Slide 25: Resolution 3
Resolution 3 To record the appointment of EY as auditors of the Company and authorise the Directors to fix the auditors’ remuneration. 25
Slide 26: Questions
Questions 26 SAVOR
Slide 27: Questions
Questions Questions can be submitted by following the instructions below. 1. SELECT ‘ASK A QUESTION’ 2. ENTER YOUR QUESTION 3. PRESS ‘SUBMIT QUESTION’ AND ENTER YOUR DETAILS IN THE BOX TO COMPLETE If you encounter any issues refer to the virtual meeting online portal guide or you can phone the helpl
Slide 28: Savor Limited 2021 Annual Meeting
Savor Limited 2021 Annual Meeting 18 November 2021 28