Mayfield Childcare Ltd. · ASX:MFD
Mayfield Childcare — H1 2018 Earnings Presentation
13 slides from Mayfield Childcare's earnings presentation, Aug 17, 2018
Slide 1: First Half CY18 Financial Results
For personal use only Mayfield Childcare Ltd (ASX:MFD) First Half CY18 Financial Results Igniting your child’s love of learning 17 August 2018 1
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer This Presentation contains summary information about the current activities of Mayfield Childcare Limited (Mayfield). It should be read in For personal use only conjunction with Mayfield’s other periodic and continuous disclosure announcements lodged with the Aus
Slide 3: 1H CY18 in Review
1H CY18 in Review ➢ Stable & Structured – 1H18 was only Mayfield’s 3rd full 6-month period of operations For personal use only ➢ More stable and structured environment across the business, in particular, centre operations and central administration function ➢ Performance - Sound performance of the b
Slide 4: 1H CY18 in Review
1H CY18 in Review ➢ Quality Recognition - Our Quality Improvement Program (under the Industry’s National Quality Standards) continues to reap rewards, For personal use only ➢ All centres assessed improved their Quality ranking ➢ Much Improved Govt Funding Landscape - The new Child Care Subsidy came
Slide 5: Income Statement – 1H CY18
Income Statement – 1H CY18 A$’000 Actual Actual Variance Variance For personal use only 1HCY17 1HCY18 $’000 % Revenue(1) 11,675 13,957 2,282 19.6% (1) Stable occupancy, price increases, 2017 acquisitions, kindergarten funding Profit on Disposal(2) 0 420 420 +100.0% (2) Disposal of underperforming ce
Slide 6: Balance Sheet as at June 30, 2018
Balance Sheet as at June 30, 2018 A$’000 31 Dec 2017 30 Jun 2018 Assets For personal use only Cash & Cash Equivalents(1) 1,539 780 (1) Solid operating cash flows offset by Dividend and Tax Trade & Other Receivables payments 764 846 Other Current Assets 289 276 (2) Movement reflects June 2018 acquisi
Slide 7: Cash Flow – 1H CY18
Cash Flow – 1H CY18 For personal use only A$’000 1H CY17 1H CY18 Receipts from Customers, incl Govt Funding 11,630 13,922 Payments to Suppliers & Employees (9,807) (11,926) Other (151) (201) Net Cash Inflow from Operating Activities 1,672 1,795 (Pre-Tax payment) Income Tax Paid (50) (1,387) Net Cash
Slide 8: Industry - Conditions
Industry - Conditions The first half of 2018 continued to experience the considerable dual challenges of: For personal use only 1. Diminishing value of the now historical Child Care Rebate (CCR) 2. Market Over-supply 1. Government Rebates / Subsidies ➢ As was to be expected, families experienced the
Slide 9: Industry - New Child Care Subsidy
Industry - New Child Care Subsidy For personal use only Step Hours of activity (per fortnight) Maxi number of hours of subsidy (per fortnight) Less than 8 hours (for a family 24 hours earning less than $65,710) 1 8 hours to 16 hours 36 hours 2 More than 16 hours to 48 hours 72 hours 3 More than 48 h
Slide 10: Industry - New Child Care Subsidy
Industry - New Child Care Subsidy ➢ For personal use only Successful Planning & Execution - Mayfield successfully migrated 100% of families on Day 1 ➢ Through extensive parent engagement & communication, staff training and system development, ➢ Difficult transition - New government systems initially
Slide 11: 2018 Acquisition Summary
2018 Acquisition Summary ➢ So far in 2018 Mayfield has secured 3 new childcare centres and announced the disposal of 2 childcare centres, resulting in a For personal use only net portfolio of 20 centres. Details 1H CY2018 2H CY2018 Number of centres 1 2 Registered Places 58 156 Purchase Price $1.49m
Slide 12: CY18 Outlook
CY18 Outlook For personal use only CY 2018 Revised NPAT Guidance CY 2018 Estimated NPAT from Continuing Operations $3.5M Estimated NPAT from Disposal of Centres (1 executed , 1 contracted) $0.9M Estimated Statutory NPAT $4.4M Estimated Dividend 9.2 cps (fully franked) ➢ There are number of factors t
Slide 13: Thankyou
For personal use only Thankyou Please direct any further enquiries to: Dean Clarke Glenn Raines Andrew Angus CEO CFO Investor Relations dclarke@mayfieldchildcare.com.au graines@mayfieldchildcare.com.au andrewangus@overlandavisers.com.au +61 3 9576 3156 +61 3 9576 3156 +61 402 823 757 www.mayfieldchi