January 2017
History of Operations and Financial Results2
Operating History1970
Established as buying group
MERGER 2006
Minimal safety focus: LTIFR > 20
Geographic: 70%+ profit - Tasmania
Sector: 80%+ sales - wholesale merchandise
High gearing: >100% debt / equity (Roberts)
Growth: Flat
Established 1865
240
Since 2006 merger:
Market cap increased five fold
Equity network expanded from 97 to 281
Earnings base diversified into new sectors
180
134
165
132137
198
178 177
Market cap $m
1321
43 43 50
1970 2000 2006 2010 2016 3
Continued disciplined balance sheet and capital management Net debt and working capital relative to sales growth $mEquity raising
300 $67m Continued disciplined balance sheet management
250
200
150
100
0.80.9
1.0
1.11.2
1.4
1.6
1.8
allows funding options for strategic investments and
future business growth
More than 100% growth in sales revenue over 7 years with working capital gearing managed at efficient levels while pursuing network expansion plans
Average working capital 8% of annual sales at FY16
50
51 41
-
45 51 37 5962
16
FY09 FY10 FY11 Gearing: 25% 20% 9% | FY12 21% | FY13 24% | FY14 FY15 14% 21% | FY16 23% |
Net Debt | Shareholders equity | |||
Working Capital | Sales Revenue ($bn) |
4
Ruralco Holdings Limited published this content on 23 January 2017 and is solely responsible for the information contained herein.
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