DGL – Interim 2021 Powerpoint Presentation

31 DECEMBER2020
HALF-YEAR
RESULTS

RECORD OPERATING NPAT
2
“Delegat Group has achieved
strong global sales growth to
deliver record performance
for the six months to 31
December 2020.”
JIM DELEGAT
EXECUTIVE CHAIRMAN

Record global case sales of 1,862,000,
7% higher than last year
17% sales growth in key North
America region
Record Operating NPAT of $43.1
million, 25% higher than last year
Record cashflows from operations of
$42.9 million, 21% higher than last
year
PERFORMANCE HIGHLIGHTS
3

CASE SALES AND FX
4
Case Sale s (000' s)De c 2020De c 2019
% Change
vs 2019
UK, Ireland and Europe675
601 12%
North America (USA and Canada)843 722 17%
Australia, NZ and Asia Pacific
344 410 -16%
Total Cases1,862 1,733
7%
Foreign Currency RatesDe c 2020De c 2019
% Change
vs 2019
GB£0.5058 0.5054 0%
AU$0.9344 0.9393 1%
US$0.6691 0.6519 -3%
CA$0.8776 0.8651 -1%

SALES REVENUE GROWTH ANALYSIS
5
NZ$ millions
Dec 2020
Actual
Dec 2019
Actual
% Change
vs 2019
Operating Revenue168.0 154.1 9%
Revenue movements breakdown:
Volume7%
Value2%
Foreign Exchange-1%
Country/Product Mix3%

OPERATING PERFORMANCE
6
NZ$ millionsDe c 2020De c 2019
% Change
vs 2019
Sales Revenue168.0 154.1 9%
Operating Revenue172.1 156.7 10%
Operating Gross Profit90.1 82.6 9%
Operating Gross Margin52%53%
Expenses (excl Promotion and Marketing)( 21.1) ( 24.3) 13%
Promotion and Marketing( 4.5) ( 4.8) 6%
Operating EBIT64.5 53.5 21%
Operating EBIT % of Revenue37%34%
Interest and Tax( 21.4) ( 19.1) -12%
Operating NPAT43.1 34.4 25%
Operating NPAT % of Revenue25%22%
Operating EBITDA76.1 64.2 19%
Operating EBITDA % of Revenue44%41%

OPERATING PROFIT MOVEMENT – LAST YEAR
7
NZ$millions

IMPACT OF ‘FAIR VALUE’ ADJUSTMENTS
8
NZ$ millions
De c 2020De c 2019
% Change
vs 2019
Operating NPAT
43.1 34.4

25%
Operating NPAT % of Sales
20%
17%
Biological Produce (Grapes)
1
( 10.3) ( 8.7)
-18%
Derivative Instruments
4.9
2.4 105%
Total Fair Value Items(5.4)
(6.3)
15%
Less: Tax 1.5 1.8
-15%
Fair Value Items after Tax (3.9) (4.5)
15%
Reported NPAT
39.2 29.9
31%
1. Biological Produce (Grapes) is the difference between market value paid for grapes versus the cost to grow
grapes. The harvest provision is reversed and only recognised when the finished wine is sold.

REPORTED PROFIT MOVEMENT – LAST YEAR
9
NZ$millions

BALANCE SHEET SUMMARY
10
NZ$ millionsDe c 2020De c 2019
% Change
vs 2019
Assets
Current Assets218.0 205.6 6%
Fixed Assets644.8 593.5 9%
Total Assets862.8 799.1 8%
Liabilities
Current Liabilities40.1 35.0 15%
Lease Liability95.6 80.3 19%
Deferred Tax Liabilities33.3 33.9 -2%
Senior Debt Facilities265.8 275.8 -4%
Other Non-current Liabilities3.6 4.8 -24%
Total Liabilities438.4 429.8 2%
Equity
Shareholders' Equity424.4 369.3 15%
Total Equity424.4 369.3 15%
Total Liabilities and Equity862.8 799.1 8%
Net Debt254.1 267.8 -5%

NET DEBT MOVEMENT – JUNE 20 TO DEC 20
11
NZ$millions

NET DEBT OVERVIEW
12
NZ$ millionsDe c 2020De c 2019
% Change
vs 2019
Funding
Operating Cash Flow42.9 35.5 21%
Net Debt254.1 267.8 -5%
Key Ratios
Interest Cover13.16 9.39 40%
Equity / (Equity + Net Debt) %62.5%58.0%8%
Senior Debt Ratio2.07 2.60 20%

FULL YEAR OUTLOOK
13
The Group is on target to achieve global case
sales for the full year of 3,391,000, up 3% on
last year.
Based on prevailing exchange rates, the Group
forecasts a2021 Operating Profit result of $67
million, up on last year’s performance by 10%.

Thank you