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General Information

Warrnambool Cheese and Butter Factory Company
WCB
http://www.wcbf.com.au
Packaged Foods & Meats
519
56

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$0.14 - - - $0.14 0 - ( No change )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Company Overview

Business Description
Warrnambool Cheese and Butter Factory Company Limited (WCB) is an Australian company producing a range of dairy products for domestic and export markets. Its products includes cheese, butter and butter blends, cream and dairy ingredients. WCB local brands include the Sungold Milk and the Warrnambool Cheddars cheese varieties. Exports comprise of 50% of sales volume, largely to Asian and Middle Eastern markets, plus sales to US, Europe and South America.
Strategy Analysis
WCB aims to diversify revenue sources to lessen reliance on volatile commodity markets and exchange rates. In addition, the company aims to build on the development of the Sungold brand. Warrnambool Cheese and Butter Factory Company reported NPAT down 50.3% to $15.27m for the half-year ended 31 December 2012. Revenues from ordinary activities were $231.01m, down 11.7% from last year. Basic and Diluted EPS was 27.8 cents compared to 56.7 cents last year. The net operating cash outflow was $17.92m compared to an inflow of $6.72m last year. No dividend was declared.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014 A 31.4 56.2 313.4% 13.4 0.0 0.0% 0.0%
2013 A 7.5 13.6 -51.2% 27.4 11.0 3.0% 100.0%
2012 A 15.2 27.9 -27.6% 14.0 15.0 3.8% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Australian Agricultural Co (AAC) $767M 0.0000 0.0000 0.0000 79.5580 0.0000 0.0000 0.00% 0.00% 0.00%
Bega Cheese (BGA) $711M 0.1678 -0.1268 0.2745 23.9220 27.3956 21.4945 1.82% 1.82% 2.36%
Fonterra Fund (FSF) $506M 0.4894 0.0000 0.0000 24.7676 0.0000 0.0000 2.02% 0.00% 0.00%
Tassal Group (TGR) $477M 0.2255 0.3009 -0.0398 11.6822 8.9804 9.3525 3.54% 4.02% 5.19%
Warrnambool (WCB) $519M 3.1339 0.0000 0.0000 16.4649 0.0000 0.0000 0.00% 0.00% 0.00%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.00 16.50 2.82 0.00
Market 0.99 17.00 1.32 1.59
Sector 0.65 18.40 1.32 1.32

Directors

Name Position Start Date
Mr Anthony J Reichelt Associate Director 01/01/1998
Mr Lino A Saputo Non-Executive Chairman 09/05/2014
Terence J Richardson Non-Executive Director 25/10/2007
Mr Bruce Gregory Vallance Non-Executive Director 26/10/2007
Mr Neville Fielke Non-Executive Director 28/08/2013
Mr Louis-Philippe Carriere Non-Executive Director 09/05/2014

Management

Name Position
Kai Bockmann Chief Executive Officer
William Hannah Chief Financial Officer
Paul Moloney Company Secretary
Bernard Kavanagh General Manager Corporate Development
Ross Martin General Manager ICT & Program Management Office
Anthony Cook General Manager Milk Supply
Richard Wallace General Manager Operations
William Slater General Manager Retail Dairy
John Williams General Manager Sales, Marketing & Innovation

Substantial Shareholders

Holding Name
49,321,980 (87.92%) Saputo Dairy Australia Pty Ltd
5,596,950 (9.98%) LDD, Lion and Kirin

Calendar of Events

Date Event
19 May 2016 Report (Prelim)
11 February 2016 Report (Interim)
09 September 2015 Report (Annual)
19 August 2015 Report (Prelim)
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