TREASURY WINE ESTATES LIMITED For personal use only
16 February 2022 | ASX ANNOUNCEMENT |
2022 Interim Results Investor and Analyst Presentation
Enclosed are the presentation materials for the investor and analyst webcast and conference call to be hosted by Treasury Wine Estates Ltd (ASX:TWE) commencing at 10:00am (AEDT) on 16 February 2022. Links to register for the conference are provided in the 2022 Interim Results Announcement also lodged with the ASX today.
For the purposes of ASX Listing Rule 15.5, TWE confirms that this document has been authorised for lodgment by the Chairman of the Board.
Contacts: | |
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Melissa O'Neill | Bijan Taghian |
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T R E A S U R Y W I N E E S T A T E S L I M I T E D
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L E V E L 8 , 1 6 1 C O L L I N S S T R E E T
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W W W . T W E G L O B A L . C O M
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ersonalF22 Half Year Results
16 FEBRUARY 2022
onlyuseIntroduction
Tim Ford Chief Executive Officer ersonal
1H22 Financial Highlights1,2,3,4,5
Reported EBITS down 7% in 1H22;up 28% excluding Australian COO sales to Mainland China
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NSR | EBITS | NPAT | ||||
$1.3bn | (10.1)% | Reported | $262.4m | (6.7)% Reported | $163.2m | (5.3)% |
(3.8)% | Organic6 | (1.2)% Organic6 | ||||
NSR per case | EBITS margin | EPS | ||||
22.6cps (5.4)% | ||||||
$95.6 | 16.0% | 20.7% | .2ppts | |||
0.8 ppts |
Cash conversion | ROCE | Luxury and Premium | ||
115.1% | 14.2ppts | 10.3% | 1.0ppt | contribution to |
Net Debt / EBITDAS | Interim dividend | global NSR | ||
83% 8ppts | ||||
1.8x | 0.1x | 15.0cps | No change | |
Financial information in this report is based on unaudited financial statements. Non-IFRS measures will not be subject to audit or review, and are used internally by Management to assess the operational performance of the business and make decisions on the allocation of resources
TWE has updated its accounting policies in relation to the treatment of configuration and customisation costs in cloud computing arrangements per IFRIC agenda decision Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS38 Intangible Assets), resulting in the restatement of historical financials for the period F18 to 1H21. Refer to Supplementary Information for further information
All figures and calculations in this presentation are subject to rounding
Unless otherwise stated, Financial Highlights are disclosed on a reported currency basis Before material items and SGARA
On a constant currency basis, excluding the contribution of divested portfolio brands. 1H21 US Commercial brand portfolio contribution, divested in March 2021, was 2.5m cases and NSR $112.0m; 1H22 contribution of Provenance and Chateau St Jean, divested in November and December 2021 respectively, was 0.2m cases and NSR $20.1m
1H22 Divisional performance
Strong underlying earnings growth delivered across each of the brand portfolio divisions
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Treasury | Treasury | |||||||||
Penfolds | Americas | Premium Brands | ||||||||
Treasury Americas | ||||||||||
Metric1 | 1H22 | % | 1H22 | % | % Organic2 | 1H22 | % | |||
NSR (A$m) | 382.7 | (16.3)% | 465.9 | (7.7)% | 13.6% | 418.4 | (6.3)% | |||
Excluding Mainland China3 | 364.7 | 49.1% | - | - | - | - | - | |||
NSR per case (A$) | 343.2 | (0.6)% | 116.3 | 51.3% | 20.2% | 51.5 | 6.1% | |||
EBITS (A$m) | 165.1 | (17.4)% | 85.2 | 26.9% | 46.0% | 39.0 | 20.7% | |||
Excluding Mainland China | 163.1 | 32.1% | - | - | - | - | - | |||
EBITS margin | 43.1% | (0.6) ppts | 18.3% | 5.0ppts | 3.9 ppts | 9.3% | 2.1 ppts | |||
- Unless otherwise stated, all percentage movements from the prior year are on a constant currency basis, pre-material items, and are subject to rounding
- On a constant currency basis, excluding the contribution of divested portfolio brands. 1H21 US Commercial brand portfolio contribution, divested in March 2021, was 2.5m cases and NSR $112.0m; 1H22 contribution of Provenance and Chateau St Jean, divested in November and December 2021 respectively, was 0.2m cases and NSR $20.1m
- Adjusted to exclude Australian COO product shipments to Mainland China
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Treasury Wine Estates Limited published this content on 15 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2022 21:35:40 UTC.
