Janison Education Group Ltd. · ASX:JAN
Janison Education — Investor Presentation (February 2024)
14 slides from Janison Education's investor presentation, Feb 12, 2024
Slide 1: Janison 1H24 Business Update
JAN.ASX Janison 1H24 Business Update. Wayne Houlden Founder & Interim Managing Director Stuart Halls Chief Financial Officer 12 February 2024 1
Slide 2: 1H24 Key Highlights
1H24 Key Highlights. Delivery & Disciplined expansion of New leadership financial large, strategic Strong cash to commence in performance relationships flow focus 2024 ~$22m group revenue $45m TCV contract signed Focus on optimising Appointment of Sujata with +11% growth in core with Department of E
Slide 3: Financial Performance 1H24
Financial Performance 1H24. HALF-YEAR GROUP REVENUE HALF-YEAR GROSS PROFIT $14m $22m $22m $14m $13m • 1H24 total group revenue flat on last year $20m at $22.1m. Strong core solutions business growth, $16m $9m ICAS shortfall announced at Q1. $5m $11m • Higher proportion of exam delivery & client serv
Slide 4: 1H24 Results
1H24 Results. 4
Slide 5: 1H24 Trading Update
1H24 Trading Update. +/- % Commentary $m 1H FY24 1H FY23 vs PCP Revenue 22.1 22.0 +0.3% Janison Solutions (ex Learning) revenue up +11% vs. PCP*. +3% growth overall for the division impacted by reduced Learning development revenue and decline Janison Solutions 12.1 11.8 +3%* in PBTS IPP. Janison Ass
Slide 6: Business Unit Revenue
Business Unit Revenue. Janison Solutions Janison Assessments B2B platform licence & software services School and parent assessments and analytics JS Other (Learning) JS Core ICAS AAS Other 12.5 12.1 11.8 10.6 10.3 10.0 0.8 0.7 7.1 3.3 3.4 7.0 9.9 9.3 10.4 5.3 0.9 0.8 0.5 5.3 6.1 6.0 4.8 3.6 2.6 2.5
Slide 7: Janison Solutions: Strong growth in exam and client services in 1H24, record $45m agreement secured
Janison Solutions: Strong growth in exam and client services in 1H24, record $45m agreement secured. • Strong growth of +11% in Janison Solutions core business. • New strategic customers secured over the past two years with global assessment authorities, now building well with combined revenue of ap
Slide 8: Janison Solutions: Record Deal Secured, $45m TCV
Janison Solutions: Record Deal Secured, $45m TCV. • NSW Department of Education (NSW DoE) – selective education placement tests a key win for Janison, and the largest agreement won in the company’s history. • $45m TCV over 5 years, commencing in 2HFY24 with an option for NSW DoE to extend for a furt
Slide 9: Janison Assessments: Impacted by ICAS performance in 1Q24 with continued progress in AAS and QATs
Janison Assessments: Impacted by ICAS performance in 1Q24 with continued progress in AAS and QATs. • ICAS short of expectations in Q1 • Revenue of $6.0m vs. $6.1m in PCP • Impacted by softer economic conditions during 1Q24 sales period. • Fixed operating costs constrained in 1H24 and continue into 2
Slide 10: Cost savings identified to drive profitability
Cost savings identified to drive profitability. • In 1H24 Janison undertook a review of its cost structure for opportunities to optimise EBITDA in FY24 and beyond. • The review generated $2.0m of gross annualised cost savings across the business with transition costs of $0.2m resulting from the remo
Slide 11: Cash Flow: closing cash of $9m, $3m higher than PCP
Cash Flow: closing cash of $9m, $3m higher than PCP. Commentary $m 1H FY24 1H FY23 Chg. $ Chg. % Substantial improvement in operating cash flow in 1H24. Operating cash flow (0.3) (3.4) +3.1 +92% Better management of debtors, higher interest income and timing benefit of contract renewals. Capex inves
Slide 12: 1H24 Balance Sheet
1H24 Balance Sheet. $m 1H FY24 1H FY23 Chg. $ Commentary Cash 9.2 6.1 +3.1 Improved debtor collection, increased interest income, and Trade and other receivables 4.3 9.0 (4.7) customer renewal timing improved the cash on hand and Other current assets 1.9 1.6 +0.3 reduced receivables balance at 31 De
Slide 13: Outlook
Outlook. • Strong strategic progress in 1H24 provides positive outlook • New contract win with NSW Department of Education ($45m) starts in 2H24 • Strong financial position, $9m cash on hand and 2H expecting to be cash generative, cost reductions taking effect from 2H24 onwards • New CEO, Sujata Ste
Slide 14: End
End. 14
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