Slide 1: ASX cover letter - Full Year Results Presentation
@SERVCORP 27 August 2013 The Manager Company Announcements Office Australian Securities Exchange By electronic lodgement Dear Sir Servcorp Limited (SRV) Full Year Results Presentation Enclosed is a copy of the 2013 Full Year Results briefing presented at Servcorp’s results presentation held at Level
Slide 2: Analyst Presentation FY 2013
Servcorp Limited Analyst Presentation For personal use only FY 2013 Tuesday 27 August, 2013 Presented by A.G. Moufarrige Chief Executive Officer & Marcus Moufarrige Chief Operating Officer
Slide 3: Operational Highlights FY 2013
Operational Highlights FY 2013 For personal use only Revenue of $207,995,000 NPBT of $27,630,000 NPAT of $21,271,000 EPS of $0.22 cps Mature floor NPBT of $42,216,000 NPBT growth in H2 of 22% vs. H1 Free cash produced (before tax) of $37,223,000 Unencumbered cash balances of $90,616,
Slide 4: Financial Results
Financial Results FY 2013 For personal use only % FY 2013 ¹ FY 2012 ² % Constant $AUD 000's $AUD 000's Currency Total Revenue 207,995 200,785 4% 5% Mature floor profit 42,216 37,307 13% Immature floor loss (14,586) (18,978) 23% Statutory NPBT 27,630 18,329 51% 53% Tax (6,359) (3,528) Statutory NPAT
Slide 5: Financial Results
Financial Results FY 2013 For personal use only As at As at 30 June 2013 30 June 2012 % $AUD 000's $AUD 000's Cash balance 99,758 104,334 (4%) Cash balance (unencumbered) 90,616 95,765 (5%) Total Net Assets 207,900 198,709 5% % FY 2013 FY 2012 Net Tangible Assets (per share) $1.96 $1.87 5% Earnings
Slide 6: Change in Depreciation Estimate
Change in Depreciation Estimate FY 2013 For personal use only Depreciation rate of leasehold improvements reduced from 15% to 10% o 10% more accurately reflects the life of a Servcorp floor o Servcorp’s depreciation now aligned to industry standards The impact was to increase NPBT by $6,130,000
Slide 7: Financial Results FY 2013 - H1 vs. H2
Financial Results FY 2013 - H1 vs. H2 For personal use only Revenue improved by 3% in H2 Mature NPBT improved by 16% in H2 NPBT improved by 22% in H2 FY 2013 H1 vs. H2 AUD $000's 25,000 22,665 20,000 19,551 15,000 15,158 12,472 10,000 5,000 0 Mature NPBT NPBT H2 H1 6
Slide 8: Mature Business
Mature Business FY 2013 Mature Revenue & NPBT For personal use only AUD $000's In H1 FY 2013 business conditions remained challenging 200,000 o Aggressive price competition, which 188,472 o Adversely impacted revenue growth 180,630 160,000 Conditions improved in H2 FY 2013 120,000 Mature reven
Slide 9: The Servcorp Footprint / Immature Business
The Servcorp Footprint Floors by Region 30 June 2013 ANZ/SEA 10 new floors opened in FY 2013 3 22 North Asia For personal use only 72 new floors opened in the 48 months to 30 June 2013 43 We plan to open a further 8 large floors in FY 2014 EMEA Total = 132 o adding approximately 10% to office
Slide 10: Operating Summary by Region - ANZ/SEA
Operating Summary by Region FY 2013 For personal use only Mature Results - ANZ/SEA ANZ/SEA AUD $000's 80,000 Mature floors Performance in New Zealand, Thailand and Malaysia 68,474 68,225 60,000 was consistent with FY 2012 Performance in Perth, Sydney and Singapore was worse than anticipated 40,0
Slide 11: Operating Summary by Region - North Asia
Operating Summary by Region FY 2013 For personal use only Mature Results - North Asia North Asia AUD $000's 80,000 Mature floors 69,998 North Asia produced a solid result in FY 2013 67,425 60,000 Shanghai and Hong Kong continue to disappoint A weak JPY impacted revenues and profits 40,000 Un
Slide 12: Operating Summary by Region - EMEA
Operating Summary by Region FY 2013 For personal use only Mature Results - EMEA Europe & Middle East AUD $000's 40,000 Mature floors 38,759 EMEA remains a key growth market for Servcorp 30,000 31,687 Revenues and profits from the region continue to grow We now comply with licensing regulations
Slide 13: Operating Summary by Region - USA
Operating Summary by Region FY 2013 For personal use only USA USA AUD $000's 15,000 Revenue from our USA business continues to 12,357 improve 10,000 8,737 USA business as a whole is now cash neutral 5,000 (excluding the new floor opened in March 2013 in New York) 0 All floors in the USA (excep
Slide 14: Dividend
Dividend FY 2013 For personal use only Final dividend payable of 7.5 cents per share, fully franked Total dividends payable in relation to FY 2013 of 15.0 cents per share, fully franked FY 2014 Forecast Dividends of no less than 16 cents per share are expected to be paid for FY 2014 At this
Slide 15: Outlook FY 2014
Outlook FY 2014 For personal use only Continue to remain optimistic about the outlook of Servcorp, and are encouraged by: o the continued growth in revenue, and; o the improvement in occupancy, particularly in Q4 FY 2013 Remain focused on reducing vacancy across the Serviced Office portfolio C
Slide 16: Questions & Answers
Servcorp Limited Questions & Answers For personal use only