Slide 1: FY2014 Results Presentation
FY2014 Results Presentation BURSON FY2014 RESULTS PRESENTATION
Slide 2: Disclaimer
Disclaimer The material in this presentation has been prepared by Burson Group Limited (“Burson”) ABN 80 153 199 912 and is general background information about Burson’s activities current at the date of this presentation. The information is given in summary form and does not purport to be complete.
Slide 3: Agenda
Agenda 1 FY2014 Results Highlights 2 FY2014 Result Details 3 Strategy and Outlook 4 Q&A A Appendix 3 BURSON FY2014 RESULTS PRESENTATION
Slide 4: FY2014 Result Highlights
1 FY2014 Result Highlights 2 FY2014 Result Details 3 Strategy and Outlook 4 Q&A A Appendix BURSON FY2014 RESULTS PRESENTATION
Slide 5: Delivered Prospectus Forecasts
Delivered Prospectus Forecasts Pro Forma Prospectus Pro $ million Variance FY2014 Forma Forecast Revenue 341.6 340.8 0.2% EBITDA 36.0 35.7 0.8% NPAT 19.4 19.3 0.5% EPS(1) (CPS) 11.86 11.80 0.5% Record result as Burson continues to deliver steady growth Resilience of automotive aftermarket parts
Slide 6: Proforma Financial Highlights in FY2014
Proforma Financial Highlights in FY2014 Comparison to FY2013 • 116 stores – increase of 11 stores • Like for like sales growth of 3.9% • Revenue $342 million – up 11.5% • Gross margin up 0.8% • EBITDA margin 10.5% – up 0.6% • NPAT $19.4 million – up 21.3% • Earnings per share – up 21.3% 6 BUR
Slide 7: Operational Highlights in FY2014
Operational Highlights in FY2014 Continued store expansion, up net 11 stores to 116 8 acquisitions NSW (7) and NT (1) 5 greenfields in Vic, NSW and Qld (3) Merged 2 stores in Vic and NSW Focus on customer service foundations People development Inventory range enhancement Systems
Slide 8: FY2014 Result Details
1 FY2014 Result Highlights 2 FY2014 Result Details 3 Strategy and Outlook 4 Q&A A Appendix BURSON FY2014 RESULTS PRESENTATION
Slide 9: Summary Income Statement
Summary Income Statement Revenue growth of 11.5% delivered by Pro forma, $ million FY2014 FY2013 Change Like for like sales growth of 3.9% Revenue 341.6 306.3 11.5% Full year impact of FY2013 acquisitions 2.0% Gross Profit 146.9 129.4 13.5% Impact of FY2014 acquisitions 5.6% Margin (%) 43.0%
Slide 10: NPAT Bridge
NPAT Bridge FY2013 – FY2014 Pro Forma NPAT Bridge $ million 1.6 (3.2) 2.3 (0.5) (1.8) 5.0 19.4 16.0 NPAT FY2013 Like for like Gross profit % Contribution CODB at Depreciation Tax NPAT FY2014 sales growth growth in from new stores existing stores existing stores 10 BURSON FY2014 RESULTS PRESENTATION
Slide 11: Summary of Key Performance Indicators
Summary of Key Performance Indicators Store Numbers Revenue and “Like for Like” growth Store expansion continues – ahead of prospectus forecast and well positioned Store expansion together with strong like for like sales growth driving to meet or exceed 2015 forecast revenue growth 116 341.6 284.3 3
Slide 12: Summary Cash Flows
Summary Cash Flows FY2014 Working capital Pro forma, $ million FY2014 FY2013 prospectus Actual Actual Working capital approx. 11% of sales forecast Continue to renegotiate supplier terms as Burson EBITDA 36.0 30.2 35.7 scales Partially offset by inventory range investment in Change in workin
Slide 13: Summary Balance Sheet
Summary Balance Sheet Statutory Pro forma Net Debt $ million June 2014 December 2013 Strong cash flow generation and earnings growth Cash 10.9 2.0 has resulted in lower net debt and leverage ratio Trade and Other Receivables 32.4 29.9 Closing net debt of $63.1 million* Inventories 69.1 64.5
Slide 14: Strategy and Outlook
1 FY2014 Result Highlights 2 FY2014 Result Details 3 Strategy and Outlook 4 Q&A A Appendix BURSON FY2014 RESULTS PRESENTATION
Slide 15: Strategy and Outlook
Strategy and Outlook On track to meet FY2015 prospectus forecast of 124 stores. Since 30 June 2014 have added 1 greenfield in NSW and signed acquisitions in NSW (2) and Qld (1) taking store network to 120. Expand store Continuing to work on a range of acquisition and greenfield developments oppo
Slide 16: Q&A
1 FY2014 Result Highlights 2 FY2014 Result Details 3 Strategy and Outlook 4 Q&A A Appendix BURSON FY2014 RESULTS PRESENTATION
Slide 17: Questions?
Questions? 17 BURSON FY2014 RESULTS PRESENTATION
Slide 18: Appendix
1 FY2014 Result Highlights 2 FY2014 Result Details 3 Strategy and Outlook 4 Q&A A Appendix BURSON FY2014 RESULTS PRESENTATION
Slide 19: Pro Forma – Statutory Profit and Loss Reconciliation
Pro Forma – Statutory Profit and Loss Reconciliation Consolidated $M Note 2014 2013 Statutory Net Profit After Tax 1.2 10.3 Public Company Costs 1 (0.8) (1.0) IPO Remuneration Adjustment 2 2.3 (0.2) IPO and Other Transaction Costs 3 7.2 – Net Interest Adjustment 4 16.5 9.5 Other Operating Adjustment