EBOS Group Limited (EBO:AX, EBO.NZ) - John Cullity CEO Elect ASX CEO Connect Series - March 2018
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EBOS Group Limited (EBO:AX, EBO.NZ) John Cullity CEO Elect ASX CEO Connect Series – March 2018
EBOS Group Today
HEALTHCARE ANIMAL CARE
COMMUNITY CONSUMER INSTITUTIONAL CONTRACT PRODUCT & VET
PHARMACY PRODUCTS HEALTHCARE LOGISTICS RETAIL
BRANDS WHOLESALE
Investments
NZ$2.7B No.1 $7.6 billion 21%
Market Capitalisation Combined pharmacy and
FY17 Revenue Annualised shareholder
NZX/ASX Dual listed hospital pharmaceutical return last 4 Years
wholesaler in Australia & NZ 2
EBOS Group strategic approach
Our Healthcare and Animal Care strategic focus is centred on:
Leading Market Disciplined Capital
Investing for Growth
Positions Management
Two types of investments: We aim to have positions of • Cash generation to drive
scale in the markets we scope for further investment
• External acquisitions – we
operate in and maximise which allows for dividends
have a strong history of deal
opportunities across our paid in the range of 60-70%
execution
wide range of business of Net Profit After Tax
• Internal Capex – investment segments wherever possible
• Acquisitions focus on
to lift productivity, manage improving Group returns on
cost and deliver better capital employed
customer service
We focus on delivering profitable growth and superior returns
3
Recent Investment Highlights
Recent Acquisitions & Investments Major Capacity Expansion
TWC Investment: October 2016
• Merger of Chemmart and Terry Significant progress made on three
White has created of one of the key capex projects in Australia & NZ
largest retail pharmacy store • New Wholesale Distribution site
networks in Australia. Brisbane, Queensland
HPS Acquired: June 2017 • New Contract Logistics site
• Australia’s largest provider of Sydney, New South Wales
outsourced pharmacy services to
Hospitals. • New Wholesale Distribution site
Christchurch, NZ
BlackHawk expansion: July 2017
• BH launched into the New Zealand
market
• BH is now Australia’s and NZ’s fastest
growing premium pet food.
MedAdvisor investment: October 2017
• Cornerstone investment made in
Australia’s leading digital
Construction progress: New Brisbane site (Queensland)
medication management company
4
Black Hawk Update
• Australia’s fastest growing premium pet food brand
with a leading position in the pet specialty retail
channel.
• Sales growth in 1H 2018 of +26%
• In July 2017 Black Hawk was launched in the New
Zealand market. Initial results are very positive.
Black Hawk Sales
(pre and post acquisition)
+48%
+55%
+23%
FY14 FY15 FY16 FY17
5
EBOS 1H FY18 Summary results
Constant FX
NZ$m H1 FY18 H1 FY17 Var Var
Revenue 3,942.7 3,960.2 (0.4%) (3.8%)
Gross Operating Revenue 434.8 364.1 19.4% 15.5%
EBITDA 138.5 119.9 15.6% 11.7%
EBIT 121.2 107.5 12.7% 9.0%
Net Profit After Tax 76.7 68.8 11.5% 7.8%
Underlying EBITDA 138.5 122.3 13.3% 9.5%
Underlying NPAT 76.7 70.2 9.1% 5.5%
Adjusted EPS - cps 51.4 46.4 10.8% 7.1%
Net Debt 447.5 288.1
Net Debt : EBITDA 1.76x 1.25x
ROCE 16.1% 16.2%
6
Delivering Results
5 Year Revenue Trend Dividends per share
NZ$m cents
FY17 7,626
FY16 7,101
58.5 63.0
FY15 6,395
47.0
41.0
FY14 5,757
FY13 1,822
FY14 FY15 FY16 FY17
5 Year EBITDA Trend Share Price
NZ$m FY13 to FY17
20
241.4
FY17 18
16
225.5
FY16
14
215.7 12
FY15
10
FY14 175.4
8
FY13 57.0 6
30/06/2012 30/06/2013 30/06/2014 30/06/2015 30/06/2016 30/06/2017
7
Summary - what to expect
• Continue to execute on our strategy of
organic growth and bolt on acquisitions
• Maintain our disciplined approach to
cash flow and capital management
• Maintain a strong balance sheet with
capacity for acquisition opportunities
• Focus on our customers, partners and
shareholder returns
8
www.ebosgroup.com
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