Slide 1: Countplus Limited Annual General Meeting
For personal use only Countplus Limited Annual General Meeting 13 November 2012 Contact: Barry Lambert, Executive Chairman barry.lambert@countplus.com.au or (02) 8272 0212 Michael Spurr, Managing Director michael.spurr@countplus.com.au or (02) 8272 0293
Slide 2: Chairman's Address
For personal use only Chairman’s Address Barry Lambert
Slide 3: AGM Agenda
AGM Agenda For personal use only Introductions Financial Summary Profit Guidance Dividend Policy Liquidity CBA acquisition of Count Financial Limited AGM Resolutions CEO Address Q&A 3
Slide 4: Executive Directors
Executive Directors For personal use only Philip Rix Michael Spurr Executive Director & Managing Director & CEO Bentleys WA Principal Subject to election 4
Slide 5: Non-Executive Directors
Non-Executive Directors For personal use only David Smith Don Sharp Graeme Fowler Independent Non-Executive Director Non-Executive Director Independent Non-Executive Director Acquisitions Committee Chair Risk & Compliance Committee Chair Board Audit Committee Chair Subject to re-election Subject to
Slide 6: Company Secretarial, Auditors & Lawyers
Company Secretarial For personal use only Auditors & Lawyers Ernst & Young Mark Raumer Virginia Wee Addisons Lawyers Jeff Mansfield Arlette Jubian Company Secretary Li Jean Chew 6
Slide 7: Financial Results 2012 v 2011
Financial Results 2012 v 2011 2012 2011 % Change For personal use only $ ‘000 $ ‘000 Net Income Member Firms 19,514 18,260 6.9% Head Office Contribution (net cost) (297) (300) (1.0%) Operating Profit (EBITA) 19,217 17,960 7.0% Interest Expense (779) (967) (19.4%) Net Profit before Tax 18,438 16,993
Slide 8: Profit Guidance
Profit Guidance 1st profit guidance For personal use only Actual result may vary to guidance Expect to achieve 10% EPS growth in 2012/13 8
Slide 9: Dividend History & Guidance
Dividend History & Guidance For personal use only Financial Franking Status Cents Per Share Payment Date Year Ended 2011 Fully Franked Paid 2.0 (per fully paid share) 15 August 2011 2012 Fully Franked Paid 3.0 (per fully paid share) 15 November 2011 2012 Fully Franked Paid 3.0 (per fully paid share)
Slide 10: Dividend Policy
Dividend Policy For personal use only Countplus Prospectus indicated an intention for dividend pay-out ratio to be within 50-70% Due to strong cash position and low debt, 2012 annual dividend guidance is for 12c which will exceed this range for the Y/E 2013 High non-cash amortisation expense m
Slide 11: Liquidity
Liquidity For personal use only Approximately 30% of shares will be released from escrow on 22 December 2012 Majority of remaining escrowed shares will be released over the next year Gives time to establish a track record of profit & dividend growth 11
Slide 12: AGM Resolutions
For personal use only AGM Resolutions Barry Lambert
Slide 13: Resolution 1: Financial Statements & Reports
Resolution 1: Financial Statements & Reports For personal use only These Statements & Reports are incorporated in the Directors Report. The vote on this resolution is advisory only and does not need to be formally adopted by the meeting. Any questions can be addressed to the CEO at the end of
Slide 14: Resolution 2: Adopt Remuneration Report
Resolution 2: Adopt Remuneration Report This Report is incorporated in the Directors Report of For personal use only the Annual Report. The vote on this resolution is advisory only and does not bind the Directors of the Company % of all Vote Type Voted % securities For 14,687,539 96.84 13.42 Aga
Slide 15: Resolution 3: Election of Philip Rix
Resolution 3: Election of Philip Rix For personal use only % of all Vote Type Voted % securities For 14,656,046 94.95 13.39 Against 487,713 3.16 0.45 Open-Usable 291,077 1.89 0.27 Open Cond 0 0.00 0.00 Open 0 N/A 0.00 Unusable Abstain 23,199 N/A 0.02 Excluded 0 N/A 0.00 Philip Rix Executive Director
Slide 16: Resolution 4: Re-election of Graeme Fowler
Resolution 4: Re-election of Graeme Fowler For personal use only % of all Vote Type Voted % securities For 14,102,429 91.73 12.88 Against 980,552 6.38 0.90 Open-Usable 291,077 1.89 0.27 Open Cond 0 0.00 0.00 Open 0 N/A 0.00 Unusable Abstain 83,977 N/A 0.08 Excluded 0 N/A 0.00 Graeme Fowler Independe
Slide 17: Resolution 5: Re-election of Don Sharp
Resolution 5: Re-election of Don Sharp For personal use only % of all Vote Type Voted % securities For 14,102,429 91.73 12.88 Against 980,552 6.38 0.90 Open-Usable 291,077 1.89 0.27 Open Cond 0 0.00 0.00 Open 0 N/A 0.00 Unusable Abstain 83,977 N/A 0.08 Excluded 0 N/A 0.00 Don Sharp Independent Non-E
Slide 18: Chairman's Address
For personal use only Chairman’s Address Barry Lambert
Slide 19: Chief Executive Officer's Address
For personal use only Chief Executive Officer’s Address Michael Spurr
Slide 20: Countplus Member Firms
Countplus Member Firms For personal use only 20
Slide 21: Full Year Result Highlights
Full Year Result Highlights For personal use only Financials Operating Result (EBITA): $19.22 million (up 7%) 2 3 Net Profit after Tax: $11.31 million (up 19%*) Net Profit after Tax attributable to shareholders: $11.21 million *Normalised for non-cash fair value adjustments CUP Dividends 12 cents de
Slide 22: Group Performance – Member Firms
Group Performance – Member Firms 2012 2012 % Change For personal use only $ ‘000 % of Total Revenue made up of Revenue primarily of accounting services, Total Net Member Revenue 90,242 100% 11.28% financial planning services is 19% of Expenses: total net revenue. Salaries and Employment (51,698) (57
Slide 23: Group Performance
Group Performance 2012 2012 % For personal use only $ ‘000 % of Total Change Head office Revenue contribution largely neutral Net Income Member Firms 19,514 21.62% 21.6% 6.87% 6.9% Head Office Contribution (net cost) (297) (0.33%) (1.0%) EBITA Operating Profit (EBITA) 19,217 21.29% 21.3% 7.00% 7.0%
Slide 24: Balance Sheet
Balance Sheet For personal use only 2012 % $ ‘000 Change Balance sheet in strong position Current Assets 30,244 (0.5%) with net debt low and current ratio Non-Current Assets 64,777 11.3% healthy Total Assets 95,021 7.3% Current Liabilities 22,429 (22.4%) Debt has increased due to new Non-Current Lia
Slide 25: Group Goals
Group Goals Deliver consistent profit growth For personal use only Acquirer of choice for quality accounting and wealth advice businesses Over time, build recognition as an employer of choice for aspiring young professionals/managers in the industry Cooper Reeves (Brisbane, QLD) Evolution (Hun
Slide 26: Group Member Benefits
Group Member Benefits Being part of a listed entity; For personal use only Access to the expertise of the entire Countplus Network, enhancing internal efficiencies; Capital to fund growth (such as tuck-ins) and working capital; Over time, potentially lower cost &/or access to better quality
Slide 27: Becoming part of Countplus
Becoming part of Countplus For personal use only 1. Subscriber/Franchise Member; 2. Acquisition of minority stakes (25%+) at group level; 3. “Tuck-in” sale of smaller businesses by Member Firms; 4. Acquisition of controlling stake (75-100%) of larger businesses at group level. SBS (Brisbane QLD) Kid
Slide 28: Acquisitions 2012
Acquisitions 2012 For personal use only Date Acquirer “Tuck-In” Jul 2011 Countplus MBT Parramatta (Sydney, NSW) based (Sydney, NSW) chartered accounting & financial planning practice Loughhead Roberts Feb 2012 Kidmans Victorian based property & accounting (Melbourne, VIC) group Pacific East Coast Ma
Slide 29: Hood Sweeney
Hood Sweeney 25% investment in SA professional services firm, Hood For personal use only Sweeney completed October 2012; First under new progressive investment model. 29
Slide 30: Future Growth
Future Growth For personal use only Group efficiency - Member Firms learn from each other and develop Acquisition best practice - Cost synergies - Carefully targeted (limited) Organic (primary driver) - Must be EPS - Accounting accretive franchise - Firms acquired on basis of being capable of delive
Slide 31: For personal use only
For personal use only Add #
Slide 32: Question Time
For personal use only Question Time
Slide 33: Countplus Limited Annual General Meeting Contact
For personal use only Countplus Limited Annual General Meeting 13 November 2012 Contact: Barry Lambert, Executive Chairman barry.lambert@countplus.com.au or (02) 8272 0212 Michael Spurr, Managing Director michael.spurr@countplus.com.au or (02) 8272 0293