Skellerup HY18 Presentation

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HY18 Results
15 February 2018
David Mair | CEO & Executive Director
Graham Leaming | CFO

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•HY18 Revenue, EBIT & NPAT up
‒Reshaped of our operations around the world
‒More effective and faster customer-led product development
‒Reducing exposure to industries affected by commodity cycles
•HY18 Interim Dividend up
‒Balance sheet is robust, and operating cash flow strong
‒Interim dividend increased from 3.5 to 4.0 cents per share fully
imputed
‒Future dividends are likely to carry only partial imputation
(~60%) as the growth in earnings is largely coming from
Skellerup’s international operations
•FY18 NPAT expected to be up
‒Our growth is broad-based and continuing to gather momentum
‒We expect full year NPAT in the range of $24.5 million to $26.0
million, subject to any unexpected changes in our markets
‒We remain focused on continuing to leverage our international
platform to deliver sustainable earnings growth
Skellerup Key Points HY18
Financial Highlights (Unaudited)

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•Revenue up 20% on pcp
(up 18% in constant
currency terms)
•EBIT up 32% boosted by
Industrial Division
growth
•Interest expense -$0.2
million capitalised in pcp
•EPS up 31% on pcp
•Operating cash
improvement
•Capex down
substantially due to
completion of Project
Viking
Skellerup Financial Highlights HY18
NZ$ Million (Unaudited)HY18HY17
Change
Revenue116.797.319.4
EBITDA21.316.94.4
Depreciation & amortisation(3.8)(3.6)(0.2)
EBIT17.513.34.2
Interest expense(0.9)(0.6)(0.3)
Tax expense(4.9)(3.8)(1.1)
NPAT11.78.9(2.8)
Earnings cents per share 6.14.61.5
Dividend cents per share4.03.50.5
Operating cash flow14.89.75.1
Net Debt(34.8)(35.6)0.8
Capital &intangible expenditure3.16.93.8

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Skellerup HY18 Industrial Division
NZ$ Million (Unaudited)HY15HY16HY17HY18
Revenue59.766.660.873.7
EBIT6.87.67.210.0
EBIT %11.811.411.813.6
Revenue up 21% and EBIT up 40% on pcp
•Revenue measured in constant currency up 18%
•Growth across all applications and markets
‒Water and waste particularly in US
‒Roofing and fasteners particularly in US & Asia/ Middle
East
•Improved cost structure & operating leverage
translating to higher EBIT
•Reduced dependency on earnings from cyclical
extractive industries
36%
25%
8%
7%
4%
5%
3%
12%
HY18 Industrial Division Revenue by Application
Water/Waste
Roofing
Automotive
Exploration and Mining
Sports and Leisure
Appliances
Electrical
Other

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Skellerup HY18 Agri Division
NZ$ Million (Unaudited)HY15HY16HY17HY18
Revenue39.341.036.643.1
EBIT9.78.48.49.5
EBIT %24.720.423.022.1
Revenue up 18% and EBIT up 13% on pcp
•Revenue measured in constant currency up 17%
•Dairy
‒International markets driving 1H growth –consumables
and animal hygiene
‒NZ market solid as expected after very strong end to FY17
•Footwear
‒NZ market strong –weather a favourable driver plus
growth into hardware and industrial safety channels
‒Technical product (fire, di-electric and forestry) growth
continues –secured large order for fire boots in the UK

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Skellerup HY18
NZ$ Million (Unaudited)HY18HY17
Change
AgriEBIT9.58.41.1
Industrial EBIT10.07.22.8
Corporate EBIT(2.1)(2.3)0.2
EBIT17.513.34.2
Interest expense(0.9)(0.6)(0.3)
Tax expense(4.9)(3.8)(1.1)
NPAT11.78.92.8
Reconciliation of Segment EBIT to Group NPAT

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This presentation contains not only a review of operations, but also some forward
looking statements about Skellerup Holdings Limited and the environment in which
the company operates. Because these statements are forward looking, Skellerup
Holdings Limited's actual results could differ materially.
Although management and directors may indicate and believe that the assumptions
underlying the forward looking statements are reasonable, any of the assumptions
could prove inaccurate or incorrect and, therefore, there can be no assurance that the
results contemplated in the forward looking statements will be realised.
Please read this presentation in the wider context of material previously published by
Skellerup Holdings Limited.
Skellerup HY18 Disclaimer