Metroglass trading update

Metro Performance Glass
5 Lady Fisher Place
East Tamaki
Auckland 2013

Market Release
NZX: MPG, ASX: MPP
21 August 2020
Update on year to date trading performance
As part of Metro Performance Glass’ (Metroglass) 2020 Annual Shareholders’ Meeting being held today, the
company provided an update on recent trading performance and its outlook for the rest of the financial year.
Unaudited results for the four months ended 31 July 2020 (FY21 YTD)
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New Zealand (NZ$) Australia (A$) Group (NZ$)
FY21 YTD FY20 YTD FY21 YTD FY20 YTD FY21 YTD FY20 YTD
Revenue 53.8 72.6 17.1 17.1 72.0 90.6
31 July 20 31 July 19
Net debt 54.7 78.7

• NZ activity has recovered well following the alert level 4 shutdown. June and July revenues were broadly
in line with last year. For the months of May, June and July, the NZ business has achieved a similar Gross
profit margin % versus the same period last year
• Australian turnaround progressing well. AGG delivered FY21 YTD sales in line with last year despite the
product rationalisation in NSW in late 2019, and a positive EBIT result which is a strong turnaround from
the loss incurred in the same period last year
• Group net debt of $54.7m, down $12.1m since 31 March 2020 and $24.1m lower than 31 July 2019

Outlook
Metroglass CEO Simon Mander said: “As the recent move to Alert Level 3 in Auckland and to Stage 4 restrictions
in Melbourne have demonstrated we are operating in a highly uncertain environment and the outlook for
building activity is very difficult to predict. COVID-19 related impacts will continue to affect the Group for at least
the remainder of the 2021 financial year.
“In the short term, building activity in New Zealand is supported by the ability to execute on a healthy pipeline
of existing orders and projects. Trading results in June and July were pleasing and key economic data has been
stronger than anticipated in recent months, however we continue to expect building activity to soften in the
second half of the financial year. In Australia, we are confident that the improvements achieved in AGG’s EBIT
year to date will be sustained through FY21.

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All prior period comparisons are to the four months ended 31 July 2019 (FY20 YTD) unless otherwise stated.

“We remain cognisant of the threat COVID-19 presents across the group, and the potential for increased
restrictions or shutdowns that would adversely impact the short- and medium-term outlook. We will continue
to monitor the situation across the group closely and refine our plans accordingly.
“We’re not providing formal guidance today but will update shareholders further alongside our interim results
announcement in November.”

Simon Mander
Chief Executive Officer
Metro Performance Glass

For further information, please contact:
Andrew Paterson, Investor Relations
(+64) 027 403 4323
andrew.paterson@metroglass.co.nz
Authorised for release by the Metroglass Board.