Managing Director's Report 12 Months to 31 July 2021
18 November 2021
1
ersonal use only
Vision, Values and Purpose Statement
Vision
To optimise the health and development of adults, infants and children.
Values
Respect, Response, Responsibility
Purpose
In collaboration with key market participants, Clover develops customised high value nutritional ingredients that enhance the wellbeing and dietary needs of their customers.
2
Full Year FY'21 Performance Highlights
ersonal use only
Total full year Revenue
$60.5m down 32.0% on FY20 $88.3m driven by reduced demand
Net Profit $6.0m
down 51.9% on FY20 $12.5m
Operating Expenses
$8.7m down 23.7% (FY20 $11.4m) reduced spending across all areas
New products continuing to be developed to move forward in new segments and markets
Inventory at $30.8m down $1.1m on FY20 full year
Balance Sheet remains strong with cash of $9.1m
♣ Final dividend declared of 0.5
cent per share, bringing the full year dividend to 1.0 cent per share
3
ersonal use only
COVID-19 Update
Clover has managed the business to a COVID-19 safe plan with the focus on the health and safety of our employees, customers and suppliers
Customer demand has been curtailed by COVID-19 conditions
Clover maintains a relatively high inventory position to act as a buffer to insufficient shipping availability, port congestion globally and increasing freight costs
Clover has not received any government assistance through this pandemic
Many new projects are on hold as our customers' employees continue to work from home
More than 80% of Clover's customer base is located overseas and travel constraints have limited business development opportunities
4
Sales by Geography
only
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
EU Sales A$000
Europe
European sales have been slowed by COVID-19 restrictions and general activity in the market
European infant formula manufacturers have reduced sales into China
use
2016
2017
2018
2019
2020
2021
Asia / ANZ Sales A$000
Asia ANZ
80,000
♣ Direct sales into the Asian marketplace via
70,000
our Distributor network also slowed in
60,000
FY21
50,000
♣ AU / NZ reflects the impact of weaker
40,000
30,000
demand from infant formula
20,000
manufacturers as their channels of sale
10,000
into the Chinese market changed
0
2016
2017
2018
2019
2020
2021
ersonal
America Sales A$000
5,000
4,000
3,000
2,000
1,000
0
2016
2017
2018
2019
2020
2021
Sales
Americas
The USA Region pulled back slightly from the prior year in reported sales.
South American sales have been subdued by COVID-19
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Clover Corporation Limited published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2021 00:01:02 UTC.
Clover Corporation Limited is an Australia-based company, which is focused on technology, new product development and commercialization. The Company's microencapsulation technology enables nutritional oils, such as tuna, fish, algal and fungal oils, to be added to infant formula, foods, and beverages. Its technologies protect those sensitive oils from oxidation, allowing them to be incorporated into a range of applications. The Company's product offerings include docosahexaenoic acid (DHA) Oils and DHA Powders. Its DHA Oils include Nu-Mega HiDHA tuna oils and Ocean Gold. Its products are sourced from tuna oil. Its DHA Powders include Nu-Mega Driphorm powders and Nu-Mega Driphorm HA. Nu-MegaDriphorm powders utilize MicroMax technology to microencapsulate nutritional oils. Nu-Mega Driphorm powders are used in a range of infant formulas, follow-on formulas, growing up milks and food applications. Its Nu-Mega Driphorm HA is used for non-dairy applications.
CLOVER CORPORATION LIMITED 
