3 AUGUST 2016

RESULTS FOR

SIX MONTHS

ENDED 30 JUNE 2016

THE COLLAGEN CASING COMPANY

Global Leader

  • One of the world's leading providers of collagen casings for the processed meats sector

  • Provides technical support to food manufacturers

Global Operations

2,000+

staff across the world

6

manufacturing operations in Scotland, Australia, the Czech Republic,

the USA, the Netherlands and China

Collagen

  • Main raw material taken from the hide of carefully selected animals certified for food use

  • A complex naturally- occurring polymer with unique characteristics

Technology

  • Differentiation through product development

  • Improved manufacturing performance and increased capacity

OVERVIEW

Operating profit

  • Ahead of prior year

  • Improved input costs, manufacturing efficiencies and FX benefits

  • Partially offset by reduced sales volumes

Transformation programme

  • Now in final phase

  • Production commenced in both new plants & now qualifying products with customers

  • Old US plant now closed

  • Complex transition

  • Exceptional items for the full year approximately £20m

Outlook

  • Demanding market conditions, but still good opportunities for differentiation and service

  • Board's expectations for full year underlying operating profit unchanged

  • Greater stability in the business as the transformation projects conclude

RESULTS PRESENTATION | FOR SIX MONTHS ENDED 30 JUNE 2016

03

GROUP FINANCE DIRECTOR

RUTGER

HELBING

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