DGL – Interim 2022 Powerpoint Presentation

31 DECEMBER2021
HALF-YEAR
RESULTS

RECORD GLOBAL CASE SALES
2
“Delegat Group has achieved record
global case sales of 1,893,000 cases for
the six months to 31 December 2021.”
ALAN JACKSON
CHAIRMAN

Our great wine people putting in a
Herculean effort to achieve this result
in challenging conditions
Record global case sales of 1,893,000,
2% higher than last year
14% sales growth in Australia, NZ and
Asia Pacific region
Operating NPAT of $39.5 million
PERFORMANCE HIGHLIGHTS
3

CASE SALES AND FX
4
Case Sales (000's)Dec 2021Dec 2020
% Change
vs 2020
UK, Ireland and Europe626 675 -7%
North America (USA and Canada)874 843 4%
Australia, NZ and Asia Pacific393 344 14%
Total Cases1,893 1,862 2%
Foreign Currency RatesDec 2021Dec 2020
% Change
vs 2020
GB£0.5062 0.5058 0%
AU$0.9472 0.9344 -1%
US$0.6888 0.6691 -3%
CA$0.8746 0.8776 0%

SALES REVENUE GROWTH ANALYSIS
5
NZ$ millions
December
2021 Actual
December
2020 Actual
% Change
vs 2020
Sales Revenue175.9 168.0 5%
Sales movements breakdown:
Volume2%
Value3%
Foreign Exchange-1%
Price3%
Country/Product Mix1%

OPERATING PERFORMANCE
6
*The financial statements for the period ended 31 December 2020 have been restated for Software-as-a-Service arrangement under NZ IAS 38: Intangible Assets and
growing costs under NZ IAS 41: Agriculture. Refer to Note 1 of the financial statements.
NZ$ millions
Dec 2021Dec 2020
Restated*
% Change
vs 2020
Sales Revenue175.9 168.0 5%
Operating Revenue178.7 172.8 3%
Operating Gross Profit86.8 90.8 -4%
Operating Gross Margin49%53%
Expenses (excl Promotion and Marketing)(22.0) (22.1) 0%
Promotion and Marketing(5.2) (4.4) -18%
Operating EBIT59.6 64.3 -7%
Operating EBIT % of Revenue33%37%
Interest and Tax(20.1) (21.3) 6%
Operating NPAT39.5 43.0 -8%
Operating NPAT % of Revenue22%25%
Operating EBITDA70.9 75.9 -7%
Operating EBITDA % of Revenue40%44%
Case sales ('000)1,893 1,862 2%
Case Price Realisation (CPR)117.1 114.0 3%
Cost of Sales (excl Bulk Wine) Per Case47.4 41.7 -14%
EBIT per case31.4 34.6 -9%

OPERATING PROFIT MOVEMENT –LAST YEAR
7
NZ$millions

IMPACT OF ‘FAIR VALUE’ ADJUSTMENTS
8
*The financial statements for the period ended 31 December 2020 have been restated for Software-as-a-Service arrangement under NZ IAS 38: Intangible Assets and
growing costs under NZ IAS 41: Agriculture. Refer to Note 1 of the financial statements.
NZ$ millions
Dec 2021Dec 2020
Restated*
% Change
vs 2020
Operating NPAT39.5 43.0 -8%
Operating NPAT % of Revenue22%25%
Biological Produce (Grapes)
1
(7.1) (10.3) -31%
Derivative financial Instruments 3.2 4.9 -35%
Total Fair Value Items(3.9) (5.4) -28%
Taxation of NZ IFRS fair value items1.1 1.5 -27%
Fair Value Items after Tax (2.8) (3.9) -28%
Reported NPAT36.7 39.1 -6%
1. Bi ol ogi ca l Produce (Gra pe s ) i s the di ffe re nce be twe e n ma rke t va l ue pa i d for gra pe s ve rs us the cos t to grow
gra pe s . The ha rve s t provi s i on i s re ve rs e d a nd onl y re cogni s e d whe n the fi ni s he d wi ne i s s ol d.

REPORTED PROFIT MOVEMENT –LAST YEAR
9
NZ$millions

BALANCE SHEET SUMMARY
10
NZ$ millions
Dec 2021
Dec 2020
Restated*
% Change
vs 2020
Assets
Current Assets
243.1


225.9


8%
Fixed Assets
664.7


644.1


3%
Other Non-current Assets
0.7


-


0%
Total Assets
908.5


870.0


4%
Liabilities
Current Liabilities
37.2


40.1


-7%
Lease Liability
93.8


95.6


-2%
Deferred Tax Liabilities
35.2


35.1


0%
Senior Debt Facilities
271.5


265.7


2%
Other Non-current Liabilities
0.1


3.6


-96%
Total Liabilities
437.8


440.1


-1%
Equity
Shareholders' Equity
470.7


429.9


9%
Total Equity
470.7


429.9


9%
Total Liabilities and Equity
908.5


870.0


4%
Net Debt
267.0


254.1


5%
*The financial statements for the period ended 31 December 2020 have been restated for Software-as-a-Service arrangement under NZ IAS 38: Intangible Assets and
growing costs under NZ IAS 41: Agriculture. Refer to Note 1 of the financial statements.

NET DEBT MOVEMENT –JUNE 21 TO DEC 21
11
NZ$millions

NET DEBT OVERVIEW
12
NZ$ millions
December
2021 Actual
December
2020 Actual
% Change
vs 2020
Funding
Operating Cash Flow20.2 42.7 -53%
Net Debt267.0 254.1 5%
Key Ratios
Operating Interest Cover11.62 13.16 -12%
Equity / (Equity + Net Debt) %63.8%62.5%2%
Senior Debt Ratio2.41 2.07 -16%

FULL YEAR OUTLOOK
13
The Group is on target to achieve global
case sales for the full year of 3,419,000,
up 8% on last year.
Based on prevailing exchange rates and
a similar trading environment, the
Group forecasts the2022 Operating
Profit result remains in line with market
guidance in the range of $57 million to
$61 million.

Thank you