Mission Group Public Limited Company · LSE:TMG
Mission Group Public — The Mission Marketing Group — H1 2014 Earnings Presentation
11 slides from Mission Group Public's earnings presentation, 2014
Slide 1: 2014 interim results
the mission® 2014 interim results
Slide 2: Contents
Contents • Review of H1 • Financials • Prospects 2
Slide 3: Summary of the period
Summary of the period • Solid financial performance • Lots of activity below the surface • Great new Client wins • Overseas ventures building nicely • Proof Communication – completed in August • Acquisition pipeline strong – more being targeted 3
Slide 4: Financial summary
Financial summary • Portfolio performance • Some up, some down; satisfied with 9% headline PBT growth • Strong H1 cash inflows (again) • £5.2m cash inflow from operating activities • Leverage ratio below x1.25 at 30th June -> lowest possible interest rates • Investment in growth (SF, Singapore, two
Slide 5: Profit & Loss
Profit & Loss H1 H1 2014 2013 % Turnover 62.8 67.6 Operating income ("Revenue") 26.3 25.3 +4% Operating expenses (24.2) (23.3) Headline operating profit 2.1 2.0 +3% Net interest (0.3) (0.4) -24% Headline PBT 1.8 1.7 +9% Adjustments to headline profit 0.4 (1.6) PBT 2.2 0.1 Tax (0.5) - Earnings 1.7 0.
Slide 6: Headline adjustments
Headline adjustments • Acquisition-related items (£0.4m in 2014) • Will be an ongoing feature of TMMG results • Amortisation of intangibles • Professional fees • Re-measurement of contingent consideration • Exceptional items (£nil in 2014) • 2013 redundancy/settlement costs re c60 staff • Write-off
Slide 7: Dividend
Dividend • 0.25p interim dividend, as in 2013 • Payable on 5th December, to holders at 7th November • Cash requirement of £0.2m • Dividend policy progressive 7
Slide 8: Balance Sheet
Balance Sheet June June Dec 2014 2013 2013 Intangibles 72.1 70.9 72.5 Tangible fixed assets 4.1 3.4 3.5 Working capital 0.1 0.3 3.0 Net bank debt (7.3) (8.8) (10.7) Acquisition obligations (1.6) (1.7) (2.8) Total net debt (8.9) (10.5) (13.5) All others (mainly Corp. tax) (0.8) (1.3) (0.6) Net assets
Slide 9: Cash Flow
Cash Flow H1 H1 2014 2013 Headline operating profit 2.1 2.0 Add back depreciation 0.7 0.7 EBITDA 2.8 2.7 Exceptional costs - (1.0) Changes in working capital 2.9 3.7 Net interest (0.2) (0.3) Taxation (0.3) (0.1) Operating cash flows 5.2 5.0 Capex (1.3) (0.7) Bank debt repayment (2.0) (3.6) Acquisiti
Slide 10: Prospects
Prospects • H2 • Profits will again be H2-biased • Market remains unpredictable • Timing of contribution from H1 wins will be all-important • 2015 • Lots of groundwork in 2014 will benefit 2015 • Acquisition opportunities • To expand reach, bolster existing capabilities, enter new sectors • Strategy
Slide 11: the mission®
the mission® own ideas
The Mission Marketing Group — H1 2014 Earnings Presentation on 6ix