Slide 1: Results Presentation
Results Presenta,on 27 February 2013 David Dicker – Chairman & CEO Mary Stojcevski – CFO 1
Slide 2: Chairman’s Message
Chairman’s Message Dear Shareholders, On behalf of the Board of Directors, I am pleased to present you the FY2013 half-‐yearly results of Dicker Data. Although revenue and profit were lower in the first six months of this financial year than in the previous corresponding period, the Board remains posi
Slide 3: Key Points
Key Points § Revenues are slightly down as a result of new strategy to focus on higher margin product groups. § Opera,ng profit for the period is lower than in the previous corresponding period mainly due to increased expense provisions. § 3.0c dividend declared per share during the repor,ng perio
Slide 4: Fact Sheet
Fact Sheet 1,000 sqm of office space and 9,000 sqm of warehouse Premises space on a 2.6 hectare site in Kurnell Employees 93 FTEs Ac/ve Reseller 3,800+ across Australia Accounts Market Capitalisa/on $104.7 million as at 26 February 2013 Major vendors 4
Slide 5: Financial Highlights
Financial Highlights § Revenue down 3.6% to $213.9 million § Gross profit margin increased from 7.3% to 7.6% § EBITDA declined 7.8% to $6.5 million § NPAT down 10.8% to $3.3 million § Opera,ng cash flow increased by $27.3 million to $13.8 million § Dividend payments up from 2.93c per share to 3.
Slide 6: Half-yearly P&L
Half-‐yearly P&L § Reported revenues are slightly ahead of management’s budget. Modest decline in revenues was expected as strategy is changing from priori,sing high volume low margin PC sales. § Gross profit margin increased due to favourable shiT in product mix towards higher margin product grou
Slide 7: Balance Sheet
Balance Sheet § Improved working capital posi,on due to more effec,ve receivables collec,on § All short-‐term borrowings are asset backed and fluctuate along the working capital cycle. End of December is considered to be a mid-‐point in this cycle. $ million 31 December 2012 30 June 2012 Cash 1.9
Slide 8: Cash Flow
Cash Flow § Substan,ally improved opera,ng cash flow posi,on. Opera,ng cash flow in PCP includes the one-‐off nega,ve impact of switching to the new banking facility in December 2011. § $3 million investment in warehouse extension was funded from cash flow and Dicker Data’s exis,ng finance facili,es.
Slide 9: Outlook
Outlook § The new 5,000 sqm extension of the warehouse provides the company with more efficient inventory logis,cs. § Strategy to focus on higher margin product groups expected to deliver further gross margin improvement. § The new $20m inventory purchase finance facility with Macquarie Bank enables
Slide 10: Investors’ Return
Investors’ Return HISTORICAL RETURNS Rela/ve Performance – 12 months $1.10 12-‐month Since 1 July $1.00 Share price $0.90 105% 110% apprecia,on $0.80 $0.70 Dividend $0.60 7% 4% yield $0.50 $0.40 Total return 112% 114% $0.30 $0.20 $0.10 As at 26/02/2013 27 Feb 2012 DDR S&P/ASX200 26 Feb 2013 Share p
Slide 11: Dividend Policy
Dividend Policy Previously announced dividend policy remains unchanged: § Quarterly dividend payments up to 100% of underlying aTer tax profits § Final amount of dividend is determined based on capital needs of the company DIVIDENDS IN FY2013 Payment Date Dividend/Share Amount Type Amount Franked 8
Slide 12: Share Register
Share Register TOP 5 SHAREHOLDERS SHAREHOLDER STRUCTURE Shareholder Shares Holding 5.3% David Dicker 63.75m 49.92% David D Fiona Brown 56.25m 44.05% Fiona B 49.9% Denman Income 0.51m 0.40% 44.0% Free float Zhen Li 0.20m 0.16% Ian Davies 0.18m 0.14% Total 120.89m 94.67% As at 25th February 2013 12
Slide 13: Thank You
THANK YOU