Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc

 
Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
Full Year Results Presentation 2018
                    Presented by
     Paul Fineman, CEO and Giles Willits, CFO
Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
CONTENTS

1.                    2.                                    3.

 Highlights            Review of                            Future
 2018                  Financial                            Growth
                       Performance                          Drivers

IG Design Group plc   FULL YEAR RESULTS PRESENTATION 2018
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Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
[HEADING]

Highlights
2018

IG Design Group plc   FULL YEAR RESULTS PRESENTATION 2018
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Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
ANOTHER YEAR OF SIGNIFICANT PROGRESS
Success delivered through:

 Growth                 Investment                            Innovation
 across all regions     at record levels                      in product
                        driving efficiency                     development and in
                        and streamlining                      delivering excellent
                        processes                             customer service

 Acquisition            Financial
 of Biscay in January   another year of
 2018 and successful    delivering promises
 initial phase of       to shareholders
 integration

IG Design Group plc            FULL YEAR RESULTS PRESENTATION 2018
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Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
OUR PROMISES DELIVERED

 Underlying EPS(a)                                                       Average leverage(b)                                                    Dividend
 (pence)                                                                                                                                        (pence)

 Target double digit three year                                          Sustain average leverage                                               Trend to 2.5x covered
 CAGR in underlying EPS                                                  between 1.5x and 2.5x

                                                  21.8                         4.6                                                                                                           6.0
                                                                                          4.1
                                       18.2
                                                                                                                                                                                      4.5
                                                                                                     3.2
                            13.2
                  11.5
                                                                                                               2.3
        8.4                                                                                                                                                                 2.5
                                                                                                                          1.5

                                                                                                                                                                 1.0
                                                                                                                                                       —

       2014       2015       2016       2017      2018                         2014      2015       2016       2017       2018                        2014       2015      2016       2017   2018

      +20% on 2017                                                           Improved by 35%                                                         +33% on 2017
(a) Underlying fully diluted earnings per share before exceptional items and LTIP charges. Fully diluted earnings per share stated after exceptional gain of 1.4p (2017: 0.4p cost)
    and LTIP charges of 2.7p (2017: 2.8p) is 20.5p (2017: 15.0p).
(b) Average leverage is calculated as average monthly net debt divided by EBITDA before exceptional items and LTIP charges.

IG Design Group plc                                                   FULL YEAR RESULTS PRESENTATION 2018
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Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
GROUP REVENUE THROUGH DIVERSITY

 By customer destination                                                      By category

                                                                             74%                                           13%           10%            3%
                                                                             Celebrations                                  Giftware     Stationery(a)   NFR(b)

                                  ROW
                      Australia   £6.4m                                       By season
                                  2%
                      £36.9m                                                 51%                                          45%                       4%
                      11%                                                                                                                           Minor
                                                                             Christmas                                    Everyday                  Seasons

           Europe
                                        USA
           £58.1m                       £136.8m
                                                                              By brand
           18%                          42%                                  51%                                          49%
                                                                             Designed for you/Customer bespoke            Design Group/Licensed brands
                          UK
                          £89.3m                                              By activity
                          27%
                                                                             38%                                62%
                                                                             Manufactured                       Sourced
                                                                            (a) Stationery and Creative Play.
                                                                            (b) “Not-for-resale” bags.

IG Design Group plc                           FULL YEAR RESULTS PRESENTATION 2018
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Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
WHO WE SELL TO
Our large customer base includes the following retailers:

                           15                           19                          11              28
                           years                        years                       years           years

                           21                           30                          4               15
                           years                        years                       years           years

                           20                           11                          31              35
                           years                        years                       years           years

                           15                           15                          13              29
                           years                        years                       years           years

                           25                           11                          7               16
                           years                        years                       years           years

                      UK           Europe                     USA           Australia       World

IG Design Group plc                   FULL YEAR RESULTS PRESENTATION 2018
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Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
SOME KEY FACTS

 100 million cards, 100 million                  No. 3 in the global gift             Balanced business with
 gift bags and over 1 billion                    packaging and greetings              27% of sales by destination
 metres of gift wrap sold in                     market worth an estimated            in UK and with 73% in
 2017/18                                         £15 billion(a) at retail value       other markets

 Trading with over 10,000                        Present in over 200,000              Over 650 million units sold
 customers worldwide                             retail outlets in more than
                                                 80 countries

(a) All source: Global Industry Analysis Inc.

IG Design Group plc                             FULL YEAR RESULTS PRESENTATION 2018
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Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
[HEADING]

Review of
Financial
Performance

IG Design Group plc   FULL YEAR RESULTS PRESENTATION 2018
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Full Year Results Presentation 2018 - Paul Fineman, CEO and Giles Willits, CFO - IG Design Group Plc
FINANCIAL HIGHLIGHTS

 Revenue                                                                   Underlying profit                                                         Net cash/(debt)
 (£m)                                                                      (£m)    (a)                                                               (£m)

                                                   327.5                                                                      21.4                                                            4.4
                                                                                                                                                                                       3.0
                                        311.0

                                                                                                                   16.3
                  229.0      237.0                                                                                                                                            (17.5)
       224.5

                                                                                                                                                                     (29.4)
                                                                                                       10.8
                                                                                             9.2
                                                                                  7.6

                                                                                                                                                          (36.9)

       2014       2015        2016       2017       2018                         2014       2015       2016       2017       2018                         2014       2015     2016     2017   2018

      +5% on 2017                                                               +32% on 2017                                                             +£1.4m on 2017
(a) Underlying profit is stated before tax, exceptional items and LTIP charges. Profit before tax stated after exceptional profit of £0.5 million (2017: £1.1 million loss)
    and LTIP charges of £2.2 million (2017: £2.2 million) is £19.7 million (2017: £13.0 million).

IG Design Group plc                                                     FULL YEAR RESULTS PRESENTATION 2018
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SUMMARY OF FULL YEAR RESULTS

					                                                                                                    Year ended		 Year ended
					                                                                                                      31 March		   31 March
					                                                                                                          2018		       2017		Growth
					                                                                                                            £m		         £m		    %
Sales						327.5		311.0		5
Gross profit					70.0		63.9		9
Overheads					(47.6)		(46.6)		2
Other income					0.4                                                                                                                         0.2
EBITDA (pre‑exceptional items and LTIP)				                                                                  28.0                          22.4		 25

Operating profit		  22.8                                                                                                                    17.5		30
Finance costs					(1.4)                                                                                                                     (1.2)		 13
Profit before tax, exceptional items and LTIP					                                                           21.4                          16.3		 32
LTIP						(2.2)		(2.2)
Exceptional items					0.5		(1.1)
Profit before tax					19.7		13.0		51

 Sales/profit before tax                                        Overhead costs                                         Underlying effective tax rates(a)
                                                                                                                                                             28.3%
                      Sales        %     PBT, EI       %        		 Sales Overheads                           % of		                    22.5%       24.2%                23.9%
                        £m     change     & LTIP   change       		£m           £m                            sales          20.0%
 2016/17              311.0		16.3                               2016/17		311.0                       46.6    15.0
 Underlying growth 18.1          5.8        5.5     34.5        Underlying increase		       18.1      1.1     6.3
 FX translation        (1.6)     (0.5)     (0.4)     (2.8)      FX impact		                  (1.6)   (0.1)
 2017/18              327.5      5.3      21.4      31.7        2017/18		327.5                       47.6    14.5            2015       2016       2017       2018      2019(b)

                                                                                                                      (a) Underlying effective tax rate is stated before the effect
                                                                                                                          of exceptional items and LTIP charges.
                                                                                                                      (b) Forecast.

IG Design Group plc                                          FULL YEAR RESULTS PRESENTATION 2018
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ON TRACK TO DELIVER GROUP MARGIN TARGETS

   Sales  Profit                                                                                                                                       Margin

            Group revenue		                                             2018              2017          Growth            2018    2017    Growth     2018         2017
38%         UK & Asia £m		                                            123.3             117.0            5.4%              7.9     7.5    5.6%     6.4%         6.4%
37%         Americas $m		                                             158.8             151.6            4.8%             12.3     9.1    34.6%     7.8%        6.0%
16%         Europe €m		                                                58.5              53.1           10.1%              7.5    5.8     29.0%    12.9%        11.0%
11%         Australia AU$m		                                            63.1             57.4          10.0%               4.9    2.9     68.4%     7.8%         5.1%
(2%)        Elims/Central costs £m		                                    (4.8)             (3.1)              —            (4.0)   (4.1)      —        —            —
100%        Total		                                                   327.5             311.0            5.3%             22.8    17.5    30.4%     7.0%        5.6%
(a) Segmental profit is calculated as operating profit before exceptional items, LTIP charges and management recharges.

• Segmental profit(a) increased 30.4% to £22.8 million • Europe increased margin to 12.9% with strong
  driven by progress across all regions                  revenue growth and well executed efficiency
• Margin up 1.4 percentage points reflecting product • Australia benefited from a major new contract
  mix toward higher margin product categories          and increased activity
• Americas profit up 34.6% with significant progress                                                • UK increased profit in higher margin product
  from creative play product category                                                                 category resulting in profit growth of 5.6%
                                                                                                      supported by increased revenue reflecting new
                                                                                                      leadership team focus

IG Design Group plc                                                FULL YEAR RESULTS PRESENTATION 2018
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STRONG CASH CONVERSION FUNDING GROWTH INVESTMENT
								Year ended		 Year ended
							   31 March		   31 March
								      2018		2017
								        £m		£m
EBITDA(a) 							                                                       28.0		22.4
Change in trade and other receivables							                             (9.1)		(0.8)
Change in inventory							                                                0.4		2.7
Change in creditors, provisions and accruals							                       3.3		8.2
Exceptional items							                                                (0.5)		(0.7)
LTIP charges							                                                     (0.4)		(0.3)
Cash generated from operations							                                   21.7		31.5
Proceeds from sale of property, plant and equipment (exceptional)						   2.6		0.1
Net capital expenditure							                                          (9.4)		(5.1)
Business acquired							                                                 (5.1)		(2.7)
Tax paid								                                                         (3.1)		(2.0)
Interest paid							                                                     (1.5)		(1.9)
Dividends paid to non-controlling interests							                      (0.6)		(0.9)
Equity dividends paid							                                            (3.0)		(2.1)
Proceeds from issue of share capital						                                0.1		5.1
Other							                                                            (0.3)		(1.5)
Movement in net cash						                                                1.4		20.5
Opening net cash/(debt)						                                             3.0		(17.5)
Closing net cash						                                                    4.4		3.0
(a) Before exceptional items and LTIP charges

Net cash reconciliation 2017/18
                        EBITDA          Working capital

                                                          Capex

                                            (£5.4m)
                                                                        Acquisitions
                                                                                          Tax, interest,
                                                          (£9.4m)                              NCI                                                           Net cash
    Net cash                                                                                                   Equity                                     31 March 2018
 31 March 2017                                                                                             dividend paid                   Exceptionals
                                                                           (£5.1m)
                                                                                                                                             and LTIP
                                                                                                                           Other reasons
                                                                                             (£5.2m)
      £3.0m              £28.0m                                                                               (£3.0m)         (£0.2m)         £1.7m          £4.4m

IG Design Group plc                                        FULL YEAR RESULTS PRESENTATION 2018
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BALANCE SHEET

				As at 		       As at
				31 March		 31 March                                            Freehold property
				2018		2017
				 £m		£m                                                        Sale of excess warehousing at Hirwaun site
Intangibles			36.5		33.7                                           delivers exceptional gain of £1.1 million,
                                                                   comprising sale proceeds net of related costs
Fixed assets			                                35.5		32.6
                                                                   for the rationalisation of operations to suit the
Stock				                                      49.3		49.5          revised footprint
Trade and other receivables			                 37.5		29.9
Net cash				                                     4.4		3.0
                                                                   Return on capital employed(a)
Trade and other payables			                   (59.2)		(57.8)
                                                                                                            22.2%
Deferred income and provisions			               (2.4)		(2.5)
Taxation				                                    (1.1)		1.7
Net assets			                                 100.5		90.1
                                                                                                  16.9%
Attributable to shareholders			96.9		86.2
                                                                                        15.0%

                                                                             12.8%

                                                                              2015      2016       2017      2018

                                                                  (a) Return on capital employed is calculated as PBIT divided
                                                                      by monthly average net capital employed (excludes cash
                                                                      and intangibles).

IG Design Group plc         FULL YEAR RESULTS PRESENTATION 2018
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FLEXIBLE FACILITIES IMPROVE INTEREST COVER AND LEVERAGE

						                As at
						            31 March
Lender				Renewal		   2018  Margin 			 Covenant
HSBC		Corporate revolving credit facility and overdraft		  2021		    £18m                           0.95%		                Leverage
        Working capital revolving credit facility		       Annual		   £40m                           0.80% Stock and unfunded debtors
        UK/Europe receivables financing			                  2019		   £50m                           1.10%			             Receivables
        USA receivables financing			                        2019		   $75m                           1.10%			             Receivables
        Asia receivables financing			                       2019		   $18m                           1.30%			             Receivables
Westpac Biscay Loan			                                     2023		   AU$9m                           1.80%			             Capital ratio
        Overdraft			                                      Annual		 AU$10m                           1.95%			             Capital ratio

 Interest cover                               Average net debt                                      EBITDA
                                              (£m)                                                  (£m)
                                     16.4                                                                                          28.0
                                                   (69.3)   (66.3)   (55.1)       (51.1)   (41.9)
                              14.2
                                                                                                                            22.4

                                                                                                                     17.4
                                                                                                              16.3
                                                                                                       15.2

                       4.9
                 4.4
       3.4

      2014      2015   2016   2017   2018          2014     2015      2016        2017     2018        2014   2015   2016   2017   2018

IG Design Group plc                         FULL YEAR RESULTS PRESENTATION 2018
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MANAGING OUR CHALLENGES

                                                                               Be
                           Have a                  Have a                                                                                          Sustain
                                                                            resilient          Combatting
Challenge                  robust                  reliable                                                            De-risk FX               and nurture
                                                                           to macro               cost
                           supply                 customer                                                             movements                   capable
                                                                           economic            headwinds
                            chain                   base                                                                                         leadership
                                                                             factors

                      •   Use our global      •   Low customer         •   Continue to         •   A portfolio of      •   Operating in local   •   Give our people
                          scale when we           concentration            offer great             responses:              currencies               the knowledge
                          buy                     across multiple          value through           • Leverage          •   Natural $ hedging        and tools they
                      •   Optimal                 geographies              innovation and            overall scale     •   Active hedging           need
                          allocation of       •   Appropriate              design                  • Innovation            policy               •   Add strength and
                          purchasing              controls on          •   Resilient product       • Re-engineering                                 depth to what
                          across supplier         customer credit          categories                products                                       we do
                          base                    lines                •   Balance of                                                           •   Good teams
                                                                                                   • Product mix
                      •   Focus on freight,   •   New channels             business                                                                 make us stronger
Response                  tariffs and FX as       and customer             across multiple
                                                                                                   • Negotiation
                                                                                                     (suppliers and
                          well as price           relationships            categories
                                                                                                     customers)
                      •   Increasing              being developed      •   Products tailored
                                                                                                   • Selling
                          awareness of                                     to circumstances
                                                                                                     category
                          costs of failing
                                                                                                     solutions
                          to deliver on
                          time, and                                                                • Channel
                          non‑compliance                                                             diversity
                      •   Manage locally,                                                          • Selective price
                          with people on                                                             increases
                          the ground                                                                 albeit on a
                                                                                                     phased basis

Current status
– our view

IG Design Group plc                                  FULL YEAR RESULTS PRESENTATION 2018
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OUR FUTURE PROMISES

                        Growth:                                       Returns:                         Risk:
                 Underlying EPS growth                             Dividend policy                Average leverage
OUR OBJECTIVES

                  Target double digit three year                  Trend to 2.5x covered         Sustain long term between
                    CAGR in underlying EPS                            (40% pay-out)                   1.5x and 2.5x

                  Through organic growth with                  Out-performance supports         Provides capacity to invest
                 acquisitions adding incremental
                                                                accelerated distributions            opportunistically
                           opportunity

                                                                                                  Return on capital
                        Gross margin                                          PBIT                   employed
OUR LEVERS

                         Sustain at 20%                                8% of sales or                   Target 20%
                        of sales or higher                         higher in each business            overall or better

                            Invest to                            Efficiencies, scale and     Focus on improving working capital
                        sustain progress                        higher margin categories       ratios in each of our businesses

  IG Design Group plc                              FULL YEAR RESULTS PRESENTATION 2018
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[HEADING]

Future
Growth
Drivers

IG Design Group plc   FULL YEAR RESULTS PRESENTATION 2018
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GROUP DEVELOPMENT – TIME FOR GROWTH
Underlying EPS(a)

                                                                                                                  Growth

                                                                    Transformation

                                                                                                                           EPS

                         Recovery

        2008                                                2014                                          2018
                                                             8.4p                                         21.8p

        (13.9p)

(a) Underlying fully diluted earnings per share before exceptional items and LTIP charges.

IG Design Group plc                                                 FULL YEAR RESULTS PRESENTATION 2018
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BUILDING ON OUR STRENGTHS

Our capabilities                                                                Product categories

                                 A broad
                                 portfolio

                                                                                                                Stationery and creative play
                         Low        Geographic
                         cost        diversity

                                                                                                                                               ‘Not-for-resale’ bags
                      Strong                 Award
                      offering               winning
                                             service

                                                                                  Celebrations

                                                                                                     Giftware
            Audited              Design &         Customer
          compliance            innovation      relationships

IG Design Group plc                               FULL YEAR RESULTS PRESENTATION 2018
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LEVERAGING MARKET OPPORTUNITIES

                      TRENDS                                                       OPPORTUNITIES
 MARKET               • Consumers expect innovation and value
                        in core categories
                      • Increasing number of occasions to celebrate
                                                                                   • Working with the winners
                        throughout the year                                        • Design and innovation
                                                                                   • Efficiency and scale
 CUSTOMER             • Mass, discounter and specialist experiential retailers
                        outpacing competition
                      • Customers consolidating their supplier relationships

 TECHNOLOGY           • Online shopping changing consumers’ purchase habits
                      • Access to consumer insight driving improved retail
                        execution

 INDUSTRY             • The pressure of raw material inflation and increased
                        environmental compliance creating opportunities
                        within fragmented supplier base

IG Design Group plc                          FULL YEAR RESULTS PRESENTATION 2018
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DELIVERING GROWTH

 WORKING WITH THE WINNERS                    DESIGN AND INNOVATION                     EFFICIENCY AND SCALE
 • Organic growth with existing and new      • Developing in new channels and          • Driving margins through investment in
   customers, suppliers and product            adjacent product categories               process and people
   categories                                • Expanding in the growing number of      • Accretive M&A opportunities to unlock
                                               events celebrated throughout the year     synergies and strengthening our
                                                                                         ‘one-stop-shop’ position with customers

 Progress in the year                        Progress in the year                      Progress in the year
 • Sales to our top ten customers grew an    • Introduced new category in              • Investment in a state-of-the-art
   average of 13% year on year                 ‘not‑for‑resale’ paper bags for the       printing press in Holland
 • Volumes of gift wrap grew by 9%,            fashion and beauty industry             • Acquisition of Biscay Greetings Pty Ltd
   gift bags sold grew by 18% and single     • Launched Anker Play Products in
   greetings cards sold grew by 25%            the US

IG Design Group plc                         FULL YEAR RESULTS PRESENTATION 2018
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M&A OPPORTUNITIES

KEY AREAS OF OPPORTUNITY
                      CATEGORY
                      CONSOLIDATION

                      RELATED/ADJACENT
                      PRODUCT CATEGORIES
                                                                             FOCUSED EARNINGS PER
                                                                              SHARE ACCRETION FOR
                                                                            SHAREHOLDERS THROUGH

                      NEW CHANNELS                                              • Synergies through
                                                                                  economies of scale
                                                                                • One-stop-shop for
                                                                                  our customers

                      NEW REGIONS

IG Design Group plc                   FULL YEAR RESULTS PRESENTATION 2018
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WHY INVEST?

                      We will continue to drive organic growth, through our diversified business
                      operating across regions, categories, channels, seasons and brands

                      We will enhance net margins through investment – driving efficiency,
                      streamlining processes and attracting best talent

                      We will continue to drive innovation, deliver excellent service and remain
                      our customers’ ‘Partner of Choice’

                      We will discerningly pursue M&A opportunities supported by our
                      strong balance sheet to deliver incremental growth

                      We will continue to convert profit into cash and deliver
                      dividend growth through earnings progression

IG Design Group plc                 FULL YEAR RESULTS PRESENTATION 2018
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[HEADING]

Appendix

IG Design Group plc   FULL YEAR RESULTS PRESENTATION 2018
                                                            25
‘NOT-FOR-RESALE’ BAGS
Produced in the UK as from September 2017

New channel development drives organic growth                       • Design Group commenced supply of bags
• Bags with handles represent 48% of a retailers                      produced in our China factory in FY16
  ‘not‑for‑sale’ consumables spend                                    and has now commenced UK production
                                                                      in September 2017
• In the UK £130 million (700 million) bags are given
                                                                           •   Deploying expertise in:
  away annually by retailers (a further 1.4 billion
                                                                           •   design
  plastic bags are also given away)
                                                                           •   printing and assembling
• Legislation is rapidly ‘converting’ demand from                          •   compliance
  plastic to paper bags                                                    •   quality
                                                                           •   logistics

                                                                    • To develop an exciting new growth opportunity
IG Design Group plc                  FULL YEAR RESULTS PRESENTATION 2018
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MAJOR INVESTMENTS

                                                                                                                      July 2016
                                                                                                            Acquisition of Lang

                                                                                                           June 2016
                                                                                                  Anker Play Products             September 2017
                                                                                                    established, USA               Investment bag
                                                                                                                                      machine, UK
                                                                                               April 2015
                                                                                         Paper conversion
                                                                                           machine, USA

                                                                                  July 2014
                                                                                                                                                    January 2018
                                                                                 Acquisition
                                                                                                                                                    Acquisition of Biscay
                                                                                   of Enper

                                                               March 2014
                                       Major investment in Wales completed

                        March 2012
       Netherland printer operational

                                  2012                  2013                  2014              2015             2016             2017          2018
EPS   (a)
                                   6.7p                  7.8p                  8.4p             11.5p            13.2p            18.2p         21.8p
(a) Underlying fully diluted earnings per share before exceptional items and LTIP charges.

IG Design Group plc                                                 FULL YEAR RESULTS PRESENTATION 2018
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OUR ENVIRONMENTAL & CORPORATE RESPONSIBILITY

                          Across all territories, we comply with the highest standards
                          in the market to ensure we can prove our commitment to
                          looking after our customers, our staff and our planet.

Accreditations include:   Employee engagement
                          Our team was recognised with a
                          ‘Highly Commended’ award in the
                          Employee Engagement Awards
                          2017, in the Company of the
                          Year category.

                          This presentation cover is printed on GF Smith Extract. Each printers’ sheet contains at least five upcycled coffee cups
                          and is produced using a zero waste process meaning the more Extract paper used, the fewer cups go to landfill or incineration.
                          Design Group is proud to utilise this unique collaboration between consumer, recycler and papermaker in the 2018 presentation.

IG Design Group plc                       FULL YEAR RESULTS PRESENTATION 2018
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OUR REGIONAL BUSINESS LEADERS

                              Paul Fineman   Giles Willits
                              Group CEO      Group CFO
                                                                                Lance Burn
                                                                                MD – UK & China

                                                                Joost Bogers             Ron Vroegindeweij
                                                                MD – Europe –            MD – Europe –
                                                                Celebrations             Gifting

                      Gideon Schlessinger
                      CEO – Americas

                                                                                                             Frank Pynakker
                                                                                                             CEO – Australia

IG Design Group plc                              FULL YEAR RESULTS PRESENTATION 2018
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LARGEST SHAREHOLDERS(c)

 Hedlund Family(a)                                  Miton Group                                         Paul E Fineman(b)                                  Schroders Plc
 35.08%                                             7.97%                                               7.24%                                              5.81%

 Octopus                                            Close Brothers AM                                   Mr N Fisher & Family                               Hargreave Hale Ltd
 4.49%                                              4.33%                                               3.94%                                              3.01%

(a) In addition to the Hedlund Family’s beneficial interest set out above the Hedlund family is also interested in a further 1,150,790 ordinary shares, representing a further 1.80% of the current
    issued share capital of the Company. These ordinary shares are held by West Coast Trust, a trust for the benefit of Anders Hedlund’s adult children, which holds 900,790 ordinary shares and Claes
    Hedlund, Anders Hedlund’s brother, who owns 250,000 ordinary shares. In total the Hedlund family is interested in 23,568,994 ordinary shares, representing 36.89% of the current issued share
    capital of the Company.
(b) This includes a non-beneficial interest in 174,608 ordinary shares at 5p each.
(c) Shareholdings as at 31 March 2018.

IG Design Group plc                                                 FULL YEAR RESULTS PRESENTATION 2018
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