Slide 1: FY 2017 Results Presentation
For personal use only FY 2017 Results Presentation Wednesday 23 August 2017 Presented by: Mr. Alf Moufarrige, Chief Executive Officer 1
Slide 2: Disclaimer
Disclaimer Important Information Servcorp Limited (ABN 97 089 222 506) (“Servcorp”) is the parent entity of the Servcorp Group and is responsible for all information contained in this presentation. For personal use only Not an offer nor investment advice This presentation is not an offer or invitati
Slide 3: Overview: Headline performance
Overview Headline performance For personal use only Revenue and other income of $329.6m, up $1.0m NPBT of $48.2m, down 1% on pcp NPAT of $40.7m, up 3% on pcp Like for Like NPBT of $58.1m, up 16% Operating cash flow from operations (after tax) of $54.4m, down 10% Unencumbered cash balance
Slide 4: FY Result
FY 17 Result NPAT A$40.7m, up 3% For personal use only FY 17 FY 16 FY 17 v Constant A$m A$m FY 16 FX Revenue and other income 329.6 328.6 - 2.7% Operating expenses (281.4) (279.8) 1% 0.6% Net profit before tax 48.2 48.8 1% 0.6% Income tax expense (7.5) (9.1) 18% Net profit after tax 40.7 39.7 3% Lik
Slide 5: Performance: Like for Like NPBT up 16%
Performance Like for Like NPBT up 16% For personal use only Revenue Revenue and other income $350.0 328.6 329.6 of $329.6m, up $1.0m $300.0 277.4 242.2 $250.0 NPBT of $48.2m, down 1% $200.0 208.0 A$m Like for Like NPBT of $150.0 $58.1m, up 16% $100.0 $50.0 FY 17 result substantially $0.0 imp
Slide 6: Statutory Position: Balance sheet and Cash flow
Statutory Position Balance sheet and Cash flow For personal use only Jun-17 Jun-16 FY 17 FY 16 Balance Sheet Cash Flow A$m A$m A$m A$m Cash 104.4 95.8 Opening cash 1 July 95.8 97.8 Trade & other receivables 41.7 40.3 Net operating cash inflows 54.4 60.6 PP&E 125.8 132.0 Net investing cash outflows (
Slide 7: Positioning: Strong cash flow & liquidity
Positioning Strong cash flow & liquidity For personal use only FY 17 office stock growth funded through cash generated from operations Overall cash increased $8.5m from FY 16 to $104.4m 7
Slide 8: The Servcorp Footprint: Global consolidation
The Servcorp Footprint Global consolidation For personal use only Servcorp Growth Experienced extended period of 7,000 office stock growth since FY 11 5,751 achieving a CAGR of 10% 6,000 5,397 4,920 Following this extended period of 5,000 Servcorp Offices 4,275 office stock growth Servcorp 4,000
Slide 9: Segment Performance: Global overview
Segment Performance Global overview For personal use only Revenue Revenue Profit / (Loss) Margin Growth Segment A$m % A$m % Constant FY 17 FY 16 Actual FY 17 FY 16 FY 17 FY 16 FX Australia, New Zealand & 89.6 87.1 3% 6.4 12.2 7% 14% South East Asia North Asia 107.1 105.0 2% 21.4 20.8 20% 20% Europe
Slide 10: Operating Summary by Segment: ANZ and South East Asia
Operating Summary by Segment ANZ and South East Asia (ANZSEA) For personal use only ANZ & South East Asia Revenue ANZ & South East Asia NPBT 87.1 89.6 $90.0 $90.0 $60.0 $60.0 A$m A$m $30.0 $30.0 12.2 6.4 $0.0 $0.0 FY 16 FY 17 FY 16 FY 17 Like for Like NPBT in ANZSEA increased by 2% The region op
Slide 11: Operating Summary by Segment (cont'd): North Asia
Operating Summary by Segment (cont’d) North Asia For personal use only North Asia Revenue North Asia NPBT $120.0 105.0 107.1 $120.0 $80.0 $80.0 $Am $Am $40.0 $40.0 20.8 21.4 $0.0 $0.0 FY 16 FY 17 FY 16 FY 17 North Asia produced a pleasing FY 17 result Like for Like NPBT increased by 5% The reg
Slide 12: Operating Summary by Segment (cont'd): Europe and Middle East
Operating Summary by Segment (cont’d) Europe and Middle East (EME) For personal use only Europe & Middle East Revenue Europe & Middle East NPBT $100.0 93.4 $100.0 84.4 $75.0 $75.0 A$m A$m $50.0 $50.0 $25.0 $25.0 18.5 14.9 $0.0 $0.0 FY 16 FY 17 FY 16 FY 17 EME produced a weak result in FY 17 Two
Slide 13: Operating Summary by Segment (cont'd): USA
Operating Summary by Segment (cont’d) USA For personal use only USA Revenue USA NPBT $40.0 35.1 34.4 $0.0 $30.0 -$10.0 -3.8 -5.8 A$m A$m $20.0 -$20.0 $10.0 -$30.0 $0.0 -$40.0 FY 16 FY 17 FY 16 FY 17 Notwithstanding acceptable performances across a range of locations, the USA underperformed and has
Slide 14: Dividend: FY dividend paid and declared
Dividend FY 17 dividend paid and declared For personal use only Final dividend payable of 13.00 cps, 50% franked Total dividends payable of 26.00 cps (50% franked), up 18% on FY 16 Dividends paid (cents per share) 30.0 25.0 20.0 13.0 13.0 11.0 11.0 cps 15.0 11.0 7.5 10.0 13.0 13.0 5.0 11.0 11.0
Slide 15: Outlook: Short-term
Outlook Short-term For personal use only FY 18 NPBT guidanceA between $45m and $55m We have confidence in our future: FY 18 dividendsA expected to be 26.00 cps Material DTA of $9.1m relating to USA carried forward tax losses Management expects these losses to be utilised based on the forecas
Slide 16: Outlook (cont'd): Medium-term
Outlook (cont’d) Medium-term For personal use only Our industry is in unprecedented transition; we are seeing many new participants and as a result the shared workspace market is growing rapidly The Servcorp difference We have made significant investment in an unparalleled information technolo
Slide 17: Questions & Answers
For personal use only 17 & ANSWERS QUESTIONS