For personal use only

Costa Group Holdings Limited

Appendix 4E

Preliminary Final Report to the ASX

For the financial year ended 26 December 2021

ASX Listing Rule 4.3A

ABN 68 151 363 129

only

use

personalFor

Contents

Results for announcement to the market

Directors' Report (including remuneration report)

Auditor's Independence Declaration

Financial Statements

Notes to the Consolidated Financial Statements

Directors' Declaration

Auditor's Report

Page

1

3

39

40

45

94

95

Costa Group Holdings Ltd

Appendix 4E Preliminary Final Report

Reporting Period

only

Current reporting period:

Previous reporting period:

Financial year ended 26 December 2021

Financial year ended 27 December 2020

1. Results for announcement to the market

Key Information

December 2021

December 2020

% change

Results

Results

$ '000

$ '000

Total revenue

1,220,597

1,164,916

4.8%

Profit for the period1

52,224

67,449

(22.6%)

Profit for the period attributable to owners of Costa Group Holdings Ltd2

41,396

60,774

(31.9%)

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Earnings before interest, tax, depreciation, amortisation, SGARA3, and

218,210

197,187

10.7%

material items (EBITDA‐S)4

Net profit after tax before SGARA3, and material items (NPAT‐S)4

63,989

55,065

16.2%

Notes:

  1. Represents the statutory profit for the period which includes the impact of SGARA and material items.
  2. Represents the statutory profit for the period adjusted for non‐controlling interests.
  3. SGARA represents the fair value movements in biological assets.
  4. EBITDA‐S and NPAT‐S disclosed are presented before material items. Refer note A3 on page 53 of the Consolidated Financial Statements for further details.

personalExplanation of results

Please refer to the Operating and Financial Review contained within the Director's Report on page 6 for further information on results for the period.

For

1

The final dividend was determined subsequent to balance date. The record date for determining an entitlement to receipt of the final dividend is 10 March 2022 and the Company expects to pay the dividend on 7 April 2022. This dividend has not been accrued for at year end.
5.0 cents
100% franked
Determined after end of year
Final dividend - financial year ended 26 December 2021¹
5.0 cents
4.0 cents
100% franked
100% franked
Declared and paid during the year
Final dividend - financial year ended 27 December 2020 Interim dividend - financial year ended 26 December 2021
Paid to ordinary shareholders
Cents per share
Franking %
Costa Group Holdings Ltd
Appendix 4E Preliminary Final Report Dividends or dividend distribution plan

onlyNotes: 1.

useThere was no dividend reinvestment plan in operation during the years ended 26 December 2021 and 27 December 2020.

2. Earnings and Net Tangible Asset per Share

Please refer to note A4, page 53 of the notes to the Consolidated Financial Statements for Earnings per Share information.

personal

December 2021

December 2020

Cents

Cents

Net tangible asset backing per ordinary share

123.22

101.57

3. Parent Entity and Subsidiaries

(a) Ultimate Parent

The ultimate Australian parent entity and the ultimate parent of the Group is Costa Group Holdings Limited.

b) Subsidiaries

A list of the Group's subsidiaries can be found in note D2, page 80 of the Consolidated Financial Statements.

4. Joint Ventures and Associates

The Group's joint ventures and associates are included at note D1, page 79 of the Consolidated Financial Statements.

5. Commentary on results for the period

ForCommentary on results for the period including a discussion on trends in performance and significant features of operating performance are included in the Operating and Financial Review in the Directors' Report on page 6.

6. Audit status

The Appendix 4E and accounts have been audited and a copy of the Auditor's Report is included within the Consolidated Financial Statements which accompany this report.

2

Costa Group Holdings Ltd

Directors' report

For the period ended 26 December 2021

The directors of Costa Group Holdings Ltd and its controlled entities ("the Group") present their report together with the financial report of the Group for the year ended 26 December 2021 ('CY2021').

onlyThe directors of the Company at any time during or since the end of the period are set out below.

1. Directors

Current directors

Neil Chatfield M.Bus, FCPA, FAICD

Chairman and Independent Non‐Executive Director

Director since 7 October 2011 and Chairman since 24 June 2015. Member of the Remuneration and Human Resources Committee, Audit useand Risk Committee and Horticultural Innovation and Technology Committee and Chair of the Nomination Committee.

Neil is an established executive and non‐executive director with extensive experience in company management, and with specific expertise in high growth companies, financial management, capital markets, mergers and acquisitions, and risk management.

Neil is currently Non‐executive Chairman of Aristocrat Leisure (Director since November 2017 and Chairman since February 2019). He was previously the Chair and Non‐executive director of Seek Limited (to 31 December 2018), a Non‐executive director of Transurban Ltd (to October 2021), Iron Mountain Inc. (to September 2017), Recall Holdings Ltd (to May 2016), Chair and Non‐executive director of Virgin Australia Holdings Ltd (to May 2015). He was also a Non‐executive director of Atomos Ltd from September 2017 until 1 February

2019. Neil previously served as an executive director and Chief Financial Officer of Toll Holdings Ltd (from 1997 to 2008). personalH rry Debney BAppSc (Hons)

Non‐Executive Director

Non‐Executive Director since 1 July 2021. Chair of the Horticultural Innovation and Technology Committee and member of the Nomination Committee.

Harry was formerly the Company's CEO (from 2010) and Managing Director (from 2015) until his retirement from the Company's executive team in March 2021. During his time as CEO, Harry oversaw the transition of the business from a privately owned company to its listing on the Australian Securities Exchange. Prior to joining Costa, Harry spent 24 years at Visy Industries, including eight years as Chief Executive Officer. During this time, he substantially grew the Visy business, both organically and through acquisitions.

Ha ry is currently a Non‐executive director of Kogan.com Ltd and Lite n' Easy Pty Ltd.

Tim Goldsmith BCom

Independent Non‐Executive Director

Director since 1 September 2018. Chair of the Audit and Risk Committee and member of the Remuneration and Human Resources Committee and Nomination Committee.

Tim has extensive corporate experience gained from over three decades of working in Australia and internationally. Tim previously worked Foras a partner at PricewaterhouseCoopers (PwC) for over 20 years, which included leading PwC's National China desk.

Tim is currently Non‐Executive Chairman of Hazer Group Ltd and Angel Seafood Holdings Ltd.

Sean Hallahan BSc, MSc

Managing Director and CEO

Managing Director since 31 March and member of the Horticultural Innovation and Technology Committee.

Prior to being appointed as CEO and Managing Director, Sean was the Company's COO (since October 2017) and drove growth in the business through his leadership of consumer insight and innovation, brands, talent development and customer strategy.

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Costa Group Holdings Ltd. published this content on 21 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2022 21:20:01 UTC.