Slide 1: Count Limited Full Year Results Presentation
Count Limited Full Year Results For personal use only Presentation 30 August 2024 1
Slide 2: Important information
Important information This presentation is provided for information purposes only. The information in this Certain statements in this presentation may constitute forward-looking statements or presentation is in a summary form, does not purport to be complete and is not intended to statements about f
Slide 3: Our bold ambition and five strategic pillars
Our bold ambition is supported by Our five strategic pillars a strategic plan with For personal use only five growth pillars Our ambition To be the leading provider of integrated accounting and wealth services, helping clients through our dynamic perspective that identifies insights from their past,
Slide 4: About Count Limited
About Count Limited Our network is strong and growing 505 Second 18th Largest Accounting Firm in Largest AFSL in Firms Australia2 Australia1 For personal use only 118 3 15 2 $3.2B $34.2B $112M Funds under Funds under Statutory Revenue management advice 30 2 161 7 2 601 547 ~101,100 Financial Clients
Slide 5: FY2024 Business Update
FY2024 Business Update For personal use only 5
Slide 6: Key business highlights for FY2024
Key business highlights for FY2024 Building on solid operational performance and acquisitions Funds under advice Funds under management Authorised Representatives Growth +104% $3.2B +44% ➞ ➞ ➞ For personal use only $34.2B 547 AR1 Underlying Number of acquisitions Final Dividend 2 Services EBITA comp
Slide 7: Financial highlights for FY2024
Financial highlights for FY2024 Statutory results include the full transaction and integration cost impact and four months contribution from the Diverger acquisition Statutory Revenue Underlying EBITA Margin¹ +22% 15% ➞ ➞ 11% in FY2023 $111.8M For personal use only Statutory EBITA Underlying EBITA¹
Slide 8: Strong growth focus across the business
Strong growth focus across the business Count continues to grow across the segments Equity Partnerships Wealth Services • Earnings driven by cost • Scale in Wealth resulting in • Expanded scale in the Services management, organic growth improved margins through segment through actuarial and acquisit
Slide 9: Driving higher returns within the industry
Driving higher returns within the industry Count’s integrated model of enhancing value to Accounting and Wealth Management firms Owning the profit margins • Underlying megatrend of the aging Australian through Equity demographics to drive further growth: Partnerships • Population aged 65-85 years to
Slide 10: Count to capture industry megatrends
Count to capture industry megatrends Wealth expected to grow significantly in future years Industry Trends Count Growth Areas • Profit margin of 22.2% in 2024 for • Market share concentration is low in those remaining in the Advice the Accounting industry (top four industry, up from 18% in 2021, fir
Slide 11: Value chain – addressable markets
Value chain – addressable markets We have clear growth plays in three large addressable markets Equity Partnerships Wealth Services Addressable $39 billion $9 billion $1.2 billion For personal use only market size1 • Invest in converged accounting • Invest in goals-based advice • Expanded opportunit
Slide 12: Case Study of a successful Count Equity Partner
Case Study of a successful Count Equity Partner Count’s integrated model adding value to equity partners This Count Equity Partner firm provides comprehensive services across Audit and Assurance, Compliance, Taxation, Business Advisory and 2010 Count’s governance 2025 ➞ ➞ Mentoring, Lending, SMSF Se
Slide 13: Diverger integration update
Diverger integration update Count is well progressed with its integration program Simplify and Scale Synergies upgrade Optimise Day 1 to 12 months FY25 12+ months Initial annualised committed ✓ Joint integration ✓ New Count operating ✓ Consolidation and For personal use only collaboration complete m
Slide 14: Financial Update FY2024
Financial Update FY2024 For personal use only 14
Slide 15: Key Performance Summary
Key Performance Summary Underlying Group performance ahead of prior period FY2024 FY2023 Movement $’000 $’000 $’000 % Key FY2024 Highlights Underlying Revenue 110,146 90,464 19,682 +22% Direct Costs (49,813) (41,668) (8,145) +20% • Significant underlying earnings growth driven by four Contribution m
Slide 16: Statutory to Underlying EBITA bridge - FY2023 to FY2024
Statutory to Underlying EBITA bridge - FY2023 to FY2024 Strong organic and acquisitive growth underpinning FY2024 underlying results For personal use only Statutory Impact of Gain on Underlying Organic Realised cost Acquisitive Underlying Integration and Impact of Statutory EBITA FY2023 divested bar
Slide 17: Segment performance
Segment performance Underlying revenue and EBITA significantly increased over the period Equity Partnerships • Improvement in EBITA margin FY2024 FY2023 Movement • Revenue decline is due to the divestment of Bentleys WA $’000 $’000 $’000 % ($3.0M), and the merger of Crosby Dalwood merger into Equity
Slide 18: Wealth segment
Wealth segment FUM growth and strong adviser base positions Count Wealth segment for future growth Number of Advice Documents1 Count Advisers v Industry2 700 22,000 23,000 21,727 547 600 20,000 Count Advisers (bar) 500 Industry (line) 18,000 18,000 379 400 365 16,000 300 278 279 248 13,031 For perso
Slide 19: Final Dividend and Capital Management for FY2024
Final Dividend and Capital Management for FY2024 Key dates for FY2024 Final dividend Ex-Dividend date Payment date Wednesday Thursday 9 October 2024 19 September 2024 For personal use only Record date Franking credits Friday 30 June 2024 of $23.6M 20 September 2024 (30 June 2023 $11.6M) • FY2024 fin
Slide 20: Looking Ahead
For personal use only Looking Ahead 20
Slide 21: Summary and Key Priorities for FY2025
Summary and Key Priorities for FY2025 Clear strategic priorities positions Count for a strong FY2025 Full integration of Diverger into Count and the Drive organic revenue growth particularly through uplifting financial planning revenues For personal use only disciplined delivery of cost and revenue
Slide 22: Q&A
1@ confidence to look ahead E Q&A Ajuo asn jeuosied 104 22
Slide 23: Thank You
For personal use only Thank You 23
Slide 24: Appendix
For personal use only Appendix 24
Slide 25: Historical underlying performance
Appendix 1 Historical underlying performance FY2024 FY2023 FY2022 FY2021 $’000 $’000 $’000 $’000 Equity Partnerships – Revenue 66,025 66,643 64,513 64,883 Wealth – Revenue 29,804 18,073 15,409 13,858 Services – Revenue 14,317 5,748 3,950 - Underlying – Revenue 110,146 90,464 83,871 78,741 Equity Par
Slide 26: Reconciliation of underlying EBITA to reported NPATA
Appendix 2 Reconciliation of underlying EBITA to reported NPATA Equity Total* Wealth Services Corporate Office Partnerships FY2024 FY2023 Movement FY2024 FY2023 FY2024 FY2023 FY2024 FY2023 FY2024 FY2023 $’000 $’000 % $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Underlying EBITA 16,633 10,355 +61%
Slide 27: Count firms within our three Segments
Appendix 3 Count firms within our three Segments Equity Partnerships Wealth Services For personal use only 27
Slide 28: Sources and definitions
Appendix 4 Sources and definitions Definitions Sources and basis of estimates ▪ Underlying revenue - Removal of revenue generated from businesses Equity partnerships - $39 billion: ▪ Accounting $33 billion1 divested during the period ▪ Wealth $6 billion2 ▪ Underlying other income - Other income from