Slide 1: Morgan Stanley Presentation June 2012
For personal use only Morgan Stanley Presentation June 2012
Slide 2: Introduction to Reckon
For personal use only Introduction to Reckon • 2011 Revenue: $91m • 2011 EBITDA: $33.1m • 350 employees across 4 key geographies (AU, NZ, UK & US); includes development team of 90 • Strong Customer Base – +700,000 Registered SMBs – +200,000 Registered Personal Customers – +7,000 Accountant clients –
Slide 3: Introduction to Reckon
Introduction to Reckon For personal use only Business Division (targeting SMBs, Accountants & Consumers) – Continued Growth in SME products particularly subscription – Retail conditions continue to be hard, but no longer significant portion of business – Other products tracking well including NZ, Co
Slide 4: For personal use only
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Slide 5: Group trends
For personal use only Group trends Operating revenue Operating revenue EBITDA 100 35 90 30 80 70 43.6 43.5 25 16.5 42.0 14.9 60 20 $m 50 13.3 28.8 40 27.4 15 9.6 22.1 8.3 30 46.5 46.7 10 6.3 20 ` 43.3 16.6 31.2 15.3 28.0 11.8 10 22.9 5 8.2 9.4 6.7 0 0 2006 2007 2008 2009 2010 2011 2006 2007 2008 200
Slide 6: Group trends
For personal use only Group trends NPBT EPS 30 16 25 14 12 20 12.3 10 6.6 11.0 6.1 $m 15 9.6 8 5.3 7.6 6 4.3 10 6.6 3.7 5.2 2.9 12.3 4 5 11.4 6.3 6.8 7.5 9.4 2 4.2 4.6 5.8 6.7 3.3 3.8 0 0 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 Half year Full year Half year Full year Note: 2011 e
Slide 7: Revenue Breakdown
For personal use only Revenue Breakdown 100% 90% 80% 54% 70% 60% 71% 70% Recurring 60% Revenue 50% Full Product (incl Corp 40% Services) 30% 36% Service 28% Revenue 11% 20% 23% 10% 18% 10% 12% 7% 0% Business Professional nQBB Group Prior year 52% 71% 66% 59% recurring revenue 7
Slide 8: Evolution
Evolution For personal use only Product base Reckon Brand Cloud • Accounting software for businesses • Practice Management for accounting firms • Company Secretarial products and services • Expense Management, cost recovery for law firms • Personal Financial management software
Slide 9: Ecosystem
For personal use only Ecosystem
Slide 10: Ecosystem
EFFICIENCY For personal use only APS has 70% of Top 100 firms Professional Division Accountants influence QuickBooks Hosted Business Division adoption Strong integration with all accounting packages Accountants Portal for their SME clients Accountant & SME connected in Private Cloud Solutions APS Fi
Slide 11: Move APS to Private Cloud
For personal use only Move APS to Private Cloud
Slide 12: Questions
For personal use only Questions Thank you 12