Moa Group results of Annual Meeting

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
ANNUAL
SHAREHOLDERS
MEETING
23 September 2020
MOA GROUP LIMITED

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
AGENDA
•Welcome
•FY20 - Key highlights & impact of COVID-19
•Strong response to COVID-19 uncertainty
•Hospitality - SavorGroup
•Beverages - Moa Brewing
•Formalities
•Questions
•Close
MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
FY20 KEY
HIGHLIGHTS
•Acquisition of SavorGroup and Non Solo Pizza
•Development of Lobster & Tap at the Auckland
Fish Market
•Move to cans and refreshed innovation and NPD
•Cost control & overhead reductions across the
Group are starting to bear fruit

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
SUMMARY
FINANCIALS
REVENUEEBITDA

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
STRONG RESPONSE TO
COVID-19 UNCERTAINTY
•Impact on FY20
•Strengthened the capital structure of the Group
•Remained flexible and moved ahead of the market
•Reinforced our summer trading and events business
capacity with the acquisition of Mission Bay Pavilion

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
HOSPITALITY –
SAVOR GROUP
LIMITED

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
•We have never experienced anything like this before and
COVID is changing consumer habits
•Hospitality trading has decreased sharply from late January
•The Group reacted quickly to put contingency plans in place
•We are continuing to implement initiatives to ensure we’re in
the best position possible.

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
SAVORGOODS
•Savor Goods was launched as a new online
takeaway and home delivery business
•We are continuing to build on this business with
learnings from the past six months
•To ensure a strong financial position for the
company we implemented a series of measures
including – reducing menus, reviewing trading
hours and decreasing staff shifts

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
NON SOLO PIZZA
•Non Solo Pizza in Parnell has had a complete
refurbishment of the décor and a new menu
•Non Solo has a loyal customer following which
we have continued to maintain
•A strong financial performance from NSP is
further evidence of customer satisfaction
•We see potential growth for the brand in the
near future

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
AZABU AT
MISSION BAY
•Azabucontinues to be one of the best
performing venues in our portfolio
•We are expanding the brand, converting
Mission Bay Pavilion into Azabuwhich will
open in November
•There is strong growth for hospitality in the
suburbs and we believe AzabuMission Bay
will be well received

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
LOBSTER & TAP
•The opening of Lobster & Tap in December
2019 was a highlight
•We are expanding the brand with potential
locations identified
•We also seea flight to quality, which has
benefited our portfolio of venues

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
LOOKING
FORWARD
•There is future opportunity in
New Zealand’s Hospitality industry
•A new Lobster & Tap outlet will
open on the rooftop of the
Seafarers building in November
•We believe this will be incredibly
popular given thefantastic views
of the Auckland Harbourand the
America’s Cup

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
BEVERAGES –
MOA BREWING
COMPANY

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
BREWING FOCUS: BETTER MARGINS
FOR A HEALTHIER BOTTOM LINE,
REDUCTION IN CASH REQUIREMENTS.
We have made significant progress through the following:
•Clear shift towards margin over volume
•Reconfiguring the cost base in our high volume products (Classic Range)
•Continued emphasis on our higher margin range of 500ml and 440ml singles
•Renegotiation of key supply agreements
•Structural and overhead refinement

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
The key achievements for H1 FY21 v H1 FY20 are:
Gross Margin improvement: 6%
EBITDA improvement: 68%
Cash Consumption improvement: 67%

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
THE FIRST 6 MONTHS HAVE NOT BEEN
WITHOUT THEIR CHALLENGES, BUT WE’VE
NAVIGATED THESE EXTREMELY WELL.
•Covidimpacted estimated 20% of our domestic customer base
and some of our export customers
•Closed our Tap Room in Blenheim and restructured the team
there as a result. Reopening in October
•Beer spoilage issue that caused Moa to voluntarily withdrawal a
large amount of inventory from our customers over July and
August 2020. This has resulted in a one off hit to revenue,
margin and cash over this period
•Made the appropriate decision to protect the brand by removing
as much stock from the trade as we could and therefore stock
position is currently very light and if there was stock left in the
market it is now largely gone
•We have successfully and rapidly transitioned brewing to our
alternative brewing partner and inventory levels are almost back
to normal levels ready to make the most of our peak months

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
INNOVATION AND BRAND EVOLUTION
HAVE CONTINUED TO KEEP THE BRAND
FRONT AND CENTRE WITH OUR CONSUMERS

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
WHY CANS?
•100% Recyclable
•Less transport impact
•Less broken glass
•Superior freshness
•Lighter to carry
80% growth in craft can sales
AC NeilsenTSM, 5/4/2020

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
THE BALANCE OF FY21
WILL BE MORE OF THE SAME
TO ENSURE WE DELIVER A
STRONG FINISH.
•Continued push towards our classic can range across
all customers
•Working on integration of Moa beers into Savorvenues
as contracts expire
•Finalise our transition to our alternative brewing partner
•Reopening of our Tap Room in Blenheim to capture the
domestic tourist and reengage with our local community
•Final higher margin innovation launches to hit market on time
•Continuation of refinement of overall brewing business
model to set up for further refinement inFY22

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
FORMALITIES
•Reappointment of the Group’s auditors,
Grant Thornton
•Re-election of Sheena Henderson

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
RESOLUTION 1
•To record the reappointment of Grant Thornton
as auditors of the Company and authorise the
Directors to fix the auditors’ remuneration.

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
RESOLUTION 2
•That Ms Sheena Henderson be re-elected
as a Director of the Company.

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
RESOLUTION 2: REAPPOINTMENT
OF SHEENA HENDERSON
•Sheena is a corporate and business advisor as well as a professional
company director. She brings strong independent governance to the board
and is currently acting chair of audit and risk.
•Her 25-year+ background is largely in Fast Moving Consumer Goods (FMCG),
retail and primary industry, initially domestically and latterly internationally.
•Starting her career in marketing and brand leadership, Sheena then moved
into general management running several consumer operating arms of large
international businesses from NZ.
•Commercially savvy with a track record of demonstrable success, Sheena
has three key passions in business – strategy, business leadership and
building outstanding brands that create great value.
•Sheena lives in Christchurch with her family.

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
GENERAL
BUSINESS

MOA GROUP LIMITEDANNUAL SHAREHOLDERS MEETING 2020
MOA GROUP LIMITED
THANK YOU

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Meeting Results Announcement


24 September 2020

Results of Moa Group Limited Annual Shareholder Meeting

At
Moa Group Limited’s shareholder meeting, held in Auckland yesterday afternoon, shareholders were
asked to vote on two resolutions, which were supported by the Board.

As required by NZX Listing Rule 6.1, all voting was conducted by a poll.

The resolutions passed by shareholders were:

• To record the re-appointment of Grant Thornton as auditors of the Company and to authorise
the Directors to fix the auditors’ remuneration.
• That Ms Sheena Henderson be re-elected as a Director of the Company.

Details of the total number of votes cast in person or by a proxy holder are:
Resolution For Against Abstain
To record the re-appointment of Grant
Thornton as auditors of the Company and
to authorise the Directors to fix the
auditors’ remuneration.
49,740,733
99.76%
119,001
0.24%
12,600

That Ms Sheena Henderson be re-elected
as a Director of the Company.
49,650,821
99,74%
130,001
0.26%
91,512




For more information please contact:
Tim Peat
Acting Group CFO
+6421 049 7442 or tim@moabeer.com