2021 Annual Shareholders Meeting Presentation
1
2
Noinformationcontainedhereinhasbeenindependentlyauditedor
reviewedbyanyindependentthirdparty.
Thispresentationmaycontainforwardlookingstatementsandforecasts.
Allstatementscontainedinthispresentationthatarenotclearly
historicalinnatureorthatnecessarilydependonfutureeventsare
forward-looking,andthewords“forecast”,“anticipate”,“believe”,“expect”,
“potential”,“opportunity”,“estimate”,“plan”,andsimilarexpressionsare
generallyintendedtoidentifyforward-lookingstatements.Forward-
lookingstatementsaresubjecttovariousrisksanduncertainties.
Nothinginthispresentationisapromiseorrepresentationastothe
future.Statements,estimates,projectionsandforecastsinthis
presentationastofuturemattersmayprovetobeincorrect,andthe
recipientiscautionednottoplaceunduerelianceonforwardlooking
statements.Recipientsshouldconducttheirowninvestigations,
verificationsandassessmentsofthemeritsoftheopportunity,identify
theinformationthattheyrequireandengagetheirownprofessional
advisers.
Circumstancesmaychangeandthecontentsofthispresentationmay
becomeoutdatedasaresult.Cooksundertakesnoobligationtoupdate
forwardlookingstatementsifcircumstancesorestimatesoropinions
shouldchange(exceptasrequiredbyapplicablesecuritieslaw).
Exceptinsofarasliabilityunderanylawcannotbeexcluded,neither
CooksnoranyofCooks’directors,employees,shareholders,subsidiaries,
agents,advisers,oranyotherpersonwhomakesanyrepresentationor
warrantyshallhavenoresponsibilityorliabilityarisinginrespectofany
informationcontainedinthispresentationforerrorsoromissionsor
failuretocorrectorupdateanyinformationinthepresentation
(includingresponsibilitytoanypersonbyreasonofnegligence).
Q & A
Resolutions
3
1
2
3
Presentation to shareholders.
1
1
OverviewFY21Current
Status
Update by Major
Market
Outlook
4
1
1
•Business simplified & focused on out of home coffee market in UK & Europe with low
corporate overhead
•Positive trends from FY20 were offset by the impact of Covid 19 in FY21
•Acquisition of Triple Two completed in June 2020
•UK & Ireland had challenging periods from April –July 2020 & from October 2020 with
Government restrictions
•Restrictions have eased as vaccination rates have increased in 2021
•UK has normal trading from 19
th
July
•Ireland is planned to return to normal trading from 22
nd
October
•Encouraging store sales trends in all markets since opening up
•Added net 13 new stores (including 9 Triple Two stores operating as at acquisition date)
in FY21 with 93 outlets open as at31
st
March 2021 in total
•12 new outlets added in the first half of FY22 & with 105 trading outlets today
6
ESQUIRES COFFEE
HOUSES (IRELAND)
TONY MCVERRY
12 OUTLETS
TRIPLE TWO COFFEE
DAVID HODGETTS
20OUTLETS
FRANCHISE DEVELOPMENT
(MASTER FRANCHISEE MARKETS)
ESQUIRES COFFEE
(UK)
AIDEN KEEGAN
47 OUTLETS
BOARD OF DIRECTORS
KEITH JACKSON
MICHAEL HUTCHESON, PAUL ELLIOTT,
PEIHUAN WANG, QIANG KUI
PORTUGAL
1 OUTLET IN PORTO
SAUDI ARABIA
9OUTLETS
KUWAIT
5OUTLETS
BAHRAIN
5OUTLETS
JORDAN
1OUTLET
PAKISTAN
4OUTLETS
INDONESIA
1OUTLET
We would like to pay a special tribute to all our staff & franchisees who have shown great resilience in these challenging times
1
1
•The acquisition of the fast-growing Triple Two Coffee
business in June 2020 has added scale to the core UK market
and placed CGF as the #4 Coffee focused chain in UK as
measured by total store numbers (Allegra Research) (after
Costa, Starbucks & Caffe Nero)
•Allegra Research in the UK showed that the market declined
39% in CY 2020. ECUK sales were down 29%
•Group revenue is strongly linked to store sales which was
impacted by Covid (see Graph) showing comparative data
which also shows strong recovery as relaxation of
Government restrictions allow
•Covid “new normal” has greater emphasis on digital factors
along with delivery and click & collect now gaining consumer
acceptance. Delivery partnerships with Deliveroo & Uber Eats
are in place in UK & Ireland
7
$8,756,721
$3,722,733
$9,255,437
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
FY20
FY21
FY22
UK Store Sales April
-
August 2019
-
2021 NZ$
$5,942,647
$1,543,088
$2,126,682
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
FY20
FY21
FY22
IRELAND Store Sales April
-
August 2019
-
2021 NZ$
1
1
• Group revenue from continuing activities was down 59% in FY21
•Growth in FY20 was 8% with a Covid impact affecting the final 3
weeks
•Corporate overheads reduced in FY21 to $1.266m v $2.021m for
FY20
•Cash flow from operating activities was positive $36,000 in FY21
v $193,000
•Corporate overheads reduced significantly in FY21 with expenses
of $1.266m compared to $2.021m for FY20
•Delays in store openings and other non-operational factors have
resulted in revenue of $4.991m being deferred until stores open &
revenue is released (IFRS 15). Delays are mainly related to Covid
factors. Net IFRS adjustments are $4.011m
•Operational earnings trends with the IFRS & other non-cash
adjustments are shown in the table
8
$3,801,965
$4,114,179
$1,661,593
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
FY19
FY20
FY21
CGF Revenue trends FY19
-
FY21
CGF Trends
FY20
FY21
Operational earnings
$227,000
$2,800,600
Non Cash Adjustments
-$194,000
-$4,032,600
Reported Earnings
$33,000
-$1,232,000
1
1
•Trends show sales v 2019 under various levels of
restriction to week 4 September
•Same store sales are 8% up on 2019 for YTD
with new outlets representing 28% of sales
•Strong growth in order value which is up 33% to
£6.60 from £4.96 in 2019
•Government support has been strong with VAT
reduced from 20% to 5% to 30/9/21 & then
12.5% to 31/3/22
•47 stores operating as at today
9
45%
78%
120%
135%
0%
20%
40%
60%
80%
100%
120%
140%
160%
Take Out Only
Outdoor Dining
Indoor Dining
"Normal Trading"
ECUK 2021 Sales Comparison v 2019 by stage of restriction
1
1
•Trends below show sales v 2019 under various levels
of restriction to week 4 September
•Re-opening to “normal trading” planned from 22
nd
October 2021
•Major impact on sales has been in Malls & Dublin City
•Malls have often been closed due to Covid restrictions &
some are still on restricted trading hours
•Dublin City outlets affected by low tourism numbers & lack
of workers in CBD.
•Retail parks are more local
•12 stores operating as at today with 3 new stores
planned to open before Xmas
10
45.6%
78.2%
98.1%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
Takeout Only
Outdoor Dining
Limited Indoor Dining
Ireland Same Store Sales v 2019
97%
67%
74%
84%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
Retail ParksMallsCBDSSS
Irish Sales by Channel v 2019
1
1
•Business acquired in June 2020
•No comparative sales v 2019 but sales trends similar
toECUK in 2021 as shown in graph
•Store opening program was delayed in FY21 but has
resumed strongly in FY22
•To date 11 stores added in this financial year with at
least 5 more planned in FY22
•20 stores operating as at today
•Strong growth path
•Recently named by independent study of UK Coffee
Shop market from IGD as one of the “rising stars”
11
£6,012
£18,293
£39,474
£52,874
£0
£10,000
£20,000
£30,000
£40,000
£50,000
£60,000
Takeaway
Outdoor Dining
Indoor Dining
Normal Trading
Triple Two Average Weekly Sales by level of Restriction
12
1
1
Saudi Arabia (9 outlets)
•New stores added at the new Jeddah Airport & in Mecca in last 2 months
•First drive thru outlet now trading with 5 more planned in next 12 months
•Al Salam Mall renovated
Kuwait (5 Outlets)
•Numerous Government restrictions have delayed growth plans
Bahrain (5 Outlets)
•Store opening program delayed
Jordan (1 Outlet)
•Store opening program delayed
Indonesia (1 Outlet)
•Store opening program delayed
Pakistan (4 Outlets)
•New Master Franchisee in place since late February 2021
13
•Continue recovery from Covid-19 period
•Organic growth in core markets via new franchised outlets & same store growth
•Resume previous pathway of new franchised store acquisition
•Possible further synergistic acquisitions to grow scale & critical mass in core markets
•Consider master franchise arrangements in core EU region
•Build profitability and cash flow to grow share value
1
1
14
Q & A
Please send your questions privately to
Adminor send to everyone via Zoomchat
if you want the question to be public.
•Please vote by sending the following information to
Admin via Zoom chat.
•Shareholder CSN: (Please provide)
•Resolution 1 (Re-Election of Graeme Keith Jackson):
(Please select: F/A/D *)
•Resolution 2 (Auditors): (Please select: F/A/D *)
•FOR/AGAINST/DISCRETIONARY
15
RE-ELECTION OF GRAEME KEITH JACKSON
That Graeme Keith Jackson, who retires in accordance with NZX Listing Rule 2.7.1,
and being eligible for re-election,
be re-elected as a director of the Company.
16
PROXIES FOR AGAINST DISCRETIONARY
VOTES 166,806,05920,213,769256,286
PERCENTAGE 89.07%10.79%0.14%
17
AUDITOR’S REMUNERATION
“That the Board is authorised to fix the auditor’s remuneration.”
PROXIES FOR AGAINST DISCRETIONARY
VOTES 186,871,274148,554256,286
PERCENTAGE 99.78%0.08%0.14%
18
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- SVR — Savor Limited: SVR 2021 Annual Meeting2021-11-17
“7 –Savor pivoted to an E-Commerce platform which delivered top line revenue of over $130,000 per week. –With stringent capital and cost discipline Savor’s cash burn was on average was $88,000 per week (excluding bank charges) over the lock down to date, with Savor’s cash res…”
- MFB — My Food Bag Group Limited: Annual Meeting Presentation2021-08-19
“Annual Meeting August 2021 1 Voting Card Question box Online attendees –voting and asking questions 3 Board of Directors Tony Carter Independent Chair Jennifer Bunbury Independent Non-Executive Director Sarah Hindle Independent Non-Executive Director Jon MacDonald Independent…”
- RBD — Restaurant Brands New Zealand Limited: Restaurant Brands Half Year Results Presentation2021-08-23
“Russel Creedy - Group CEOGrant Ellis - Group CFO24 August 2021 Restaurant Brands New Zealand Limited Results Presentation 6 Months to 30 June 2021 (1H 21) • Key Points • Results Overview • New Zealand Operations • Australia Operations • Hawaii Operations • California Operations…”