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FY22 Interim Results Presentation
21 February 2022
RELIANCE WORLDWIDE CORPORATION LIMITED
ABN 46 610 855 877
Important Notice
This presentation contains general information about Reliance Worldwide Corporation Limited's activities at the date of presentation (21 February 2022). It is information given in summary form and does not purport to be complete.
onlyThe presentation is not an offer or invitation for subscription or purchase of or a recommendation of securities in any jurisdiction. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice, when deciding if an investment is appropriate.
I formation, including forecast or forward looking information, in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities or other instruments in Reliance Worldwide Corporation Limited. Due care and attention has been used in the preparation of forecast and forward looking information. However, actual results may vary from forecasts and any variation may be materially positive or negative. Forecasts by their very nature are subject to uncertainty and contingencies many of which are outside the control of Reliance Worldwide Corporation Limited and Reliance Worldwide Corporation Limited cautions against reliance on any forward looking statements or forecasts, particularly in
uselight of the current economic climate and the significant volatility, uncertainty and disruption caused by COVID-19. Past performance is not a reliable indication of future performance. Except as required by applicable regulations or laws, Reliance Worldwide Corporation Limited does not undertake any obligation to publicly update or review any forward looking statements whether as a result of new information or future events.
This presentation contains references to the following non-IFRS measures: EBITDA, Adjusted EBITDA, EBIT, Adjusted EBIT, Adjusted NPAT and Adjusted EPS. These measures are used by RWC to assess operating performance and are defined in the accompanying Results Announcement dated 21 February 2022. These measures have not been subject to audit or audit review.
ersonalAll figures are presented in United States Dollars unless indicated otherwise. The sum totals throughout this presentation may not add exactly due to
rounding differences. Prior period comparative figures in US$ represent RWC management's translation of historical earnings and non-IFRS measures have not been subject to audit or audit review.
The information in this presentation remains subject to change without notice. Circumstances may change and the contents of this presentation may become outdated as a result.
This presentation forms part of a package of information about Reliance Worldwide Corporation Limited. It should be read in conjunction with the Appendix 4D, 31 December 2021 Interim Financial Report and Results Announcement also released on 21 February 2022.
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HY22 Results Overview
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HY22 Introduction
Building on strong volume growth and execution in FY21
Consolidation of activity levels and retention of FY21 volume gains
▪ Net sales growth of 12% versus pcp, different drivers in each region: | ||||
only | • Americas 15% sales growth, 12% underlying growth excluding EZ-FLO + Lowe's one-off changes | |||
• | Asia Pacific sales up 10%: strong domestic Australian market1 | |||
• EMEA sales up 1%: Continental Europe market offset lower UK sales1 | ||||
Price increases agreed with channel partners to offset cost increases - full impact | ||||
to be | ||||
use | ||||
realised progressively in 2nd half | ||||
▪ Price increases lagged higher input costs in 1st half | ||||
▪ Margins expected to improve in 2nd half as further price increases implemented | ||||
Sustained execution in a complex environment | ||||
▪ We continued to meet customer expectations despite COVID and supply chain challenges | ||||
▪ LCL and EZ-FLO acquisitions completed during the period | ||||
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ersonal | 1 Sales growth in constant currency | |||
HY22 Financial Highlights
All figures in US$
Net sales | Adjusted EBITDA |
$ | $125.5 million |
521.8 million | |
only+12% growth overall1 | +5% on pcp |
+34% on HY20 | +45% on HY20 |
use | Operating cash flow | Net debt increased by | ||
$60.0 million | $371.1 million | |||
-47% versus pcp | Net debt $545.3 million | |||
Cash conversion: 50% | Net leverage ratio2 | |||
1 | Growth rates expressed as change over comparative period for the six months ended 31 December 2020 | |||
2 | Net Debt/12 month trailing EBITDA, including LCL and EZ-FLO earnings prior to acquisition | |||
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Adjusted NPAT
$75.4 million
+5% on pcp
+89% on HY20
Interim Dividend
US4.5 cps
20% franked
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Reliance Worldwide Corporation Ltd. published this content on 20 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2022 21:10:08 UTC.