![]() Across all of our markets, key sales channels remain in varied states of impact and recovery. H2 growth across our Asian markets outside of Mainland China was also extremely strong, and reflects the initial success in half two for our Penfolds Luxury portfolio to satisfy previously unmet demand, as well as the early benefits from the investment we are making in brand building and sales and marketing capability, setting a fantastic foundation to support future growth across that region.Īs with every business around the globe, our fiscal ‘21 performance has been delivered against the backdrop of the ongoing impacts from the pandemic. This is a payout ratio of 65% of impact, which is in line with our long term dividend policy.Īs we look at our performance across our regions, I want to specifically highlight and recognize the continued positive trajectory of our business in the Americas, which delivered significant growth in EBITS and EBITS margin and NSR growth on an organic basis. The retention of our flexible and efficient capital structure throughout the year of significant disruption is testament to what has been and will continue to be a fundamental strength of Treasury Wine Estates and something that will continue to support our performance, our investment and our growth, well into the future.įinally, the Board declared a fully franked dividend of $0.13 per share, an increase of 62.5% on the final F20 dividend, resulting in a full year dividend of $.28 per share. Net debt reduced by $376 million, assisted in part through favorable currency movement, driving the significant improvement in our leverage ratio to 1.6x, down from 2.1x at the end of fiscal ‘20. We are especially pleased with this result when you consider the EBITS contribution of Mainland China declined $77 million in the year.Ĭash flow performance was once again very strong, with 101% cash conversion outcome, aided by the smaller 2020 California vintage intake and adjusted 2021 Australian vintage and the shift to our regional sales mix in China. The most pleasing aspect of this sales mix in FY ’21 was the 6 percentage point increase in the Luxury and Premium portfolio contribution to our global NSR, which now sits at 77%.ĮBITS of $510 million was essentially in-line with FY ‘20 and EBITS margin improved 0.6 percentage points to 19.9%, reflecting not only our top line performance, but also improved cost of doing business, particularly in the Americas and Asia. This top line growth was led by a $10 to $30 Premium portfolio with strong performance delivered by a number of our priority brands throughout the Americas, Europe and Australia. Commercial brands divested in March, revenue increased by 4.4%. Reported net sales revenue declined by 3% however, on an organic basis, which excludes the impact of currency and the U.S. Given our very recent Investor Day in May, today we're going to focus the presentation and commentary on our FY ‘21 results and performance supplemented by some additional and new proof points to highlight the progress we are making in delivering on our TWE 2025 game plan and financial ambitions.įirstly, I'll summarize the FY ‘21 financial highlights, which reflects strong execution and trading performance across the globe. So I'm very pleased to have joining me on the call today the following members of the leadership team: Matt Young, our CFO Tom King, the Managing Director of Penfolds Ben Dollard, President of Treasury Americas and Pete Neilson, the Managing Director of the Treasury Premium Brands or TPB as I’m sure you will hear us refer to it today. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Island of people today. ![]() In the spirit of reconciliation, Treasury Wine Estates acknowledges the traditional custodians of country throughout Australia, and their connections to land, sea and community. Good morning, everybody, and thank you for joining the Treasury Wine Estates 2021 full year results briefing. I would now like to hand the conference over to your speaker, Tim Ford, Chief Executive Officer of TWE. Please be advised that this conference is being recorded today, Thursday, 19 August, 2021. At this time all participants are in a listen-only mode. ![]() Welcome to the Treasury Wine Estates FY ‘21 Full Year Results Conference Call. Pete Neilson - Managing Director of the Treasury Premium Brands or TPB Treasury Wine Estates Limited ( OTCPK:TSRYY) Q4 2021 Earnings Conference Call Aug8:00 PM ETīen Dollard - President, Treasury Americas
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