Siv Capital Limited · ASX:SIV
Siv Capital — Silver Chef — Shareholder Meeting (October 2013)
21 slides from Siv Capital's shareholder meeting presentation, Oct 24, 2013
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 24 October, 2013 – 2.00pm Level 11, 66 Eagle Street, Brisbane
Slide 2: Disclaimer
Disclaimer Silver Chef Limited has not considered the financial position or needs of the recipient in providing this presentation. Persons needing advice should consult For personal use only their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial or legal advi
Slide 3: Agenda
Agenda For personal use only Chairman’s Address – Allan English Chief Executive Officer’s Address – Charles Gregory Formal Business 3
Slide 4: Chairman's Address
For personal use only Chairman’s Address Allan English 4
Slide 5: Results Overview
Results Overview For personal use only Total revenue + 36% Rental assets (at cost) + 39% NPAT + 27% EPS + 11% Dividend +19% Rental asset acquisitions + 35% 5
Slide 6: CEO's Address
For personal use only CEO’s Address Charles Gregory 6
Slide 7: Earnings
Earnings Profit up 27% to $11.5 million For personal use only NPAT 12 11.5 o Profit (after tax) for the year increased 27% to $11.5 million (FY12: $9.0 10 million). 9.0 EBIT 8 6.7 o EBITDA increased 36% to $72.1 million $ millions (FY12: $52.9 million) 6 5.2 o EBIT increased 26% to $22.9 million (FY
Slide 8: Asset Acquisitions
Asset Acquisitions For personal use only Asset acquisitions Rental Revenue - FY13 Rental Assets (at cost) - FY13 o Both brands maintained strong growth with total asset acquisitions of $125.3 million, up 35%. 33% Silver Chef 33% Silver Chef GoGetta GoGetta o Total rental assets (at cost) 67% 67% inc
Slide 9: Financial Position
Financial Position For personal use only Change ($ millions) 30 June 2012 30 June 2013 (FY12-FY13) Assets Current assets 5.9 6.8 + 15% Rental assets at WDV 128.4 173.5 + 35% Non-current assets 7.9 9.7 + 23% Total assets 142.2 190.0 + 34% Customer deposits and bonds 22.4 27.3 + 22% Current interest b
Slide 10: Funding
Funding Rental Asset Funding Source For personal use only o Silver Chef utilises a diverse range of funding to support the growth of the business through the acquisition of assets for rental to clients. o In FY13 the Company acquired $125.3 million worth of rental assets 27% (at cost) of which 73% (
Slide 11: Shareholder Returns
Shareholder Returns For personal use only 30% 45 41.5 40 25% 26.3% 26.4% 25.4% 37.4 35 24.1% 23.6% 22.1% EPS (cents per share) 20% 21.7% 22.0% 30 ROE and ROA (%) 29.7 26.6 25 17.1% 15% 15.1% 14.6% 22.5 14.6% 20 14.5% 13.5% 13.8% 12.1% 12.5% 10% 17.5 11.4% 15 16.1 12.2 10 5% 9.9 5 0% 0 FY05 FY06 FY07
Slide 12: FY13 Highlights
FY13 Highlights For personal use only New Zealand rental assets up 436% Franchise market 5,000 o Growing market ideally suited to 4,731 Silver Chef product 4,500 4,000 New Zealand 3,500 o Commenced operations in FY11 o Positive contribution to group 3,000 results in FY12 $’000s 2,500 o Rental assets
Slide 13: Strategy
13 For personal use only STRATEGY
Slide 14: Future Strategy
Future Strategy For personal use only Operational Growth Funding & Gearing (Systems, Processes and People) Silver Chef o Improved systems, processes and o Maintain moderate levels of gearing people to enable and underpin growth o Organic growth in Australia and New o Continue to diversify debt Zeala
Slide 15: Canada – Market Overview
Canada – Market Overview There are 81,000 For personal use only Foodservice Population1 Total outlets commercial food service Market1 establishments in Canada1 Canada 35 mln $US63 bln 109,213 Australia 22 mln $US45 bln 74,196 Canadian Hospitality Industry2 o Quick serve and restaurants represent 60%
Slide 16: Future Strategy
Future Strategy For personal use only Operational Growth Funding & Gearing (Systems, Processes and People) Silver Chef o Improved systems, processes and o Maintain moderate levels of gearing. people to enable and underpin o Organic growth in Australia and New o Continue to diversify debt. growth. Ze
Slide 17: Outlook - Economy
17 For personal use only OUTLOOK - ECONOMY
Slide 18: Outlook – Economic Conditions
Outlook – Economic Conditions For personal use only 18
Slide 19: Outlook – Economic Conditions
Outlook – Economic Conditions For personal use only 19
Slide 20: Outlook – Strategy & Earnings
For personal use only OUTLOOK – STRATEGY & EARNINGS 20
Slide 21: Strategy & Outlook
Strategy & Outlook For personal use only Strategy Outlook Our strategic focus in FY14 will be on the following o Continued organic growth across the Silver elements: Chef and GoGetta customer segments o Growth - Focus on delivering Asset Acquisition o Continued refinement of the Silver Chef Growth t