Ashley Services Group Ltd. · ASX:ASH
Ashley Services — Shareholder Meeting (November 2016)
19 slides from Ashley Services's shareholder meeting presentation, Nov 9, 2016
Slide 1: Annual General Meeting 2016
Annual General Meeting 2016 1
Slide 2: Notice and Disclaimer
› Notice and Disclaimer Purpose and Date: This presentation contains general background information about the activities of Ashley Services Group Limited ABN 92 094 747 510 (“ASH”) as at 9 November 2016 (“Presentation Date”). No financial advice: The information in this presentation does not constit
Slide 3: Agenda
› Agenda Opening Address from Chairman Business Update from Interim CEO Resolutions as per Notice of Meeting General Business Close of Annual General Meeting 3
Slide 4: Profit and Loss
› Profit and Loss Unaudited Unaudited Audited Audited $ million 3 months to 3 months to H2 FY16 FY16 30.09.16 30.09.15 6 months 12 months Revenue by segment Labour hire 67.1 62.2 119.2 248.6 Training 11.3 9.0 17.3 32.2 Total operating revenue 78.4 71.2 136.5 280.8 EBITDA by Segment Labour hire 1.9 1
Slide 5: Balance Sheet
› Balance Sheet › Trade and other receivables up $6.9M Unaudited Audited since 30 June 2016 - September 2016 $ million 30 Sep 16 30 Jun 16 labour hire revenues $7M above the month of June 2016; Cash and cash equivalents 3.9 1.7 › Tax refunds due from FY15 and FY16 Trade & other receivables 34.8 27.9
Slide 6: Cash Flow
› Cash Flow Unaudited Audited $ million 3 months to FY16 30.09.16 12 months Underlying EBITDA 2.7 (7.4) › Operating cash outflow of $2.7M for Change in working capital (7.9) 6.5 the quarter. Seasonal increase in Net interest received/(paid) (0.2) (0.3) labour hire activity and increased Income tax r
Slide 7: Business Update: Labour Hire
› Business Update Labour Hire › Continuing excellent safety record; › Revenue up 8% versus pcp, hours up 11%; Unaudited 3 months Unaudited Audited Audited › Successful integration of two large clients $ million 3 months to H2 FY16 FY16 and one large client additional site; to 30.09.15 6 months 12 mo
Slide 8: Business Update: Training
› Business Update Training › Focused on six key industry segments and ~90 unique courses, delivered primarily in VIC, NSW, QLD and WA; Unaudited Unaudited Audited Audited $ million 3 months 3 months H2 FY16 FY16 › Restructure of the training division to one to 30.09.16 to 30.09.15 6 months 12 months
Slide 9: Funding Contracts
› Funding Contracts › East Coast States have all moved to annual funding contracts, adding risk since a large portion of ASG’s training revenue is derived from government funded training; › Government funding contract applications submitted for 2017 in two largest states: • SkillsFirst (VIC) in Sept
Slide 10: RTOs
› RTOs RTO Number RTO Abbreviation Legal Entity and Trading Name 40596 AIVD Australian Institute of Vocational Development Pty Ltd Vocational Training Australia Pty Ltd trading as: 90804 VTA National Institute of Training College of Innovation and Industry Skills Pty Ltd trading as: 51901 CAN Th
Slide 11: 2016 Audits
› 2016 Audits Since January 2016, ASG has had 28 Audits: 20 of which are now closed, 8 remain open. ASG had 13 Audits in calendar 2015, all of which are closed. Date RTO & Branch Auditor / Regulator Type of Audit Status Training Accreditation 01/2016 51895 TRAC (WA) Addition to scope (Site Audit) Cl
Slide 12: 2016 Audits continued
› 2016 Audits continued Training Accreditation Closed: Re-registration 1/04/16 51895 TRAC (WA) Re-registration Audit Council granted till 2023 Australian Skills Quality 15/04/16 20749 ASH (QLD) Compliance Monitoring Closed Authority Queensland User Choice & Certificate 3 Open: RTO has received 26-27
Slide 13: 2016 Audits continued
› 2016 Audits continued Department of Training FutureSkills (General Industry 26/05/16 20749 ASH (WA) and Workforce Training, Priority Industry Closed Development Training, UserChoice) Queensland Pre-Qualified Supplier Request 28/05/16 20749 ASH (QLD) Department of Closed for Information Education 2
Slide 14: 2016 Audits continued
› 2016 Audits continued Queensland 30/08/16 22537 SILK (QLD) Department of Certificate 3 Guarantee Open: Awaiting report. Education Australian Skills Quality 13/09/16 22537 SILK (VIC) Addition to Scope CRICOS Open: Awaiting report. Authority Department of Training 13/09/16 90804 VTA (WA) and Workfor
Slide 15: Funding Contracts VIC and NSW
› Funding Contracts VIC and NSW VIC › Received response to recent audit from the Department, 7 November 2016; › Payments being withheld, enrolments suspended until issues satisfactorily resolved; › Initial meeting scheduled with Department for 10 November 2016. NSW › ASH response to recent audit sub
Slide 16: Resolutions
› Resolutions RESOLUTION 2 Re-election of Director: Mr Ross Shrimpton RESOLUTION 3 Adoption of Remuneration Report RESOLUTION 4 Selective Reduction of Capital and Cancellation of Shares 16
Slide 17: Proxies Cast
› Proxies Cast Proxy Resolution For Against Abstain Discretion 2. Re-election of Director 95,106,927 90,103 14,845,335 0 86% 0% 13% 3. Remuneration Report 7,087,783 104,103 14,845,335 0 32% 0% 67% 4. Cancellation of Shares 95,196,030 1,000 14,845,335 0 87% 0% 13% 17
Slide 18: Other Business
OTHER BUSINESS 18
Slide 19: Meeting Closed
› Meeting Closed Results of the voting and this presentation will be released to the ASX and the company’s website. 19
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