Dillistone Group Plc · LSE:DSG
Dillistone — FY2009 Earnings Presentation
22 slides from Dillistone's earnings presentation, Sep 26, 2010
Slide 1: Dillistone Group Plc Annual Results 2009
Dillistone Group Plc Annual Results 2009 www.dillistone.com
Slide 2: Changes to the Board
Changes to the Board PREVIOUSLY: 3 Member Executive Team PLUS: Jim McLaughlin – Chair & FD (Contracted 1 day PW) Dr Mike Love - NED www.dillistone.com
Slide 3: Changes to the Board
Changes to the Board TODAY: 3 Member Executive Team PLUS: Dr Mike Love (Chair) Julie Pomeroy (Financial Director – Contracted 2 days PW) Possibility of additional appointments www.dillistone.com
Slide 4: The Business
The Business Specialist suppliers of software and services to “retained executive search model” recruiters Over 1,000 clients in 58 Countries Offices in the UK, Germany, US and Australia c50 staff worldwide www.dillistone.com
Slide 5: Core Product: FILEFINDER
Core Product: FILEFINDER Combination of Project Management, CRM and Database Installs range from 1-500 seat licences Unique Selling Points: – Designed for Executive Search – Global Support – Research Zone www.dillistone.com
Slide 6: Historical Perspective
Historical Perspective Full Year 2005 2006 2007 2008 2009 Turnover (£m) 2.53 3.3 4.07 4.61 3.65 Pretax Profit (£m) 0.64 0.92 1.2 1.43 1.08 Adjusted EPS undiluted 8.46 12 14.9 18.48 15.02 Adjusted EPS diluted 8.46 11.63 14.05 17.5 14.68 Dividend Per Share 2.5 8.5 10.5 10.5 Whole Year www.dillistone.c
Slide 7: Historical Perspective
Historical Perspective www.dillistone.com
Slide 8: Overview of Results
Overview of Results www.dillistone.com
Slide 9: Income Statement
Income Statement FY 2009 FY 2008 FY 2007 (£000) (£000) (£000) Revenues 3,654 4,608 4,066 Gross Profit 3,541 4,405 3,829 Gross Margin 96% 95% 94% Administrative Expenses (2,467) (3.033,) (2,659) Profit before Tax 1,080 1,425 1,196 Tax Expense (243) (427) (391) Profit after Tax 836 997 804 EPS (fully
Slide 10: Balance Sheet
Balance Sheet 2009 2008 2007 £000 £000 £000 Fixed Assets 1,262 865 795 Current assets 3,135 3,710 2,820 Total Assets 4,398 4,576 3,615 Total Liabilities 2,062 2,507 2,151 Net Assets 2,336 2.069 1,464 www.dillistone.com
Slide 11: Cash Flow
Cash Flow FY 2009 FY 2008 FY 2007 12 months to 12 months to 12 months to 31 December 31 December 31 December 2009 2008 2007 £000 £000 £000 Cash from operations 585 1,375 1,170 Net Cash used in Investing (550) (149) (84) Activities Net Cash from Share Issues (551) (513) (135) and Dividend Payments Ef
Slide 12: Sales Review
Sales Review FY 2009 FY 2008 +/- £000 £000 Recurring Revenues 2,344 2,245 +4.3% Non Recurring Revenues Generated from NEW 816 1,432 -43% Clients from EXISTING Clients 494 931 -47% TOTAL Revenues 3,654 4,608 -21% www.dillistone.com
Slide 13: Incoming Orders
Incoming Orders £1,000,000.00 £900,000.00 £800,000.00 £700,000.00 £600,000.00 £500,000.00 Orders from Existing Clients £400,000.00 Orders from New Clients £300,000.00 £200,000.00 £100,000.00 £0.00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 2009 2010
Slide 14: New versus Existing
New versus Existing 100% 90% 80% 70% 60% 50% Orders from Existing Clients 40% Orders from New Clients 30% 20% 10% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 2009 2010 www.dillistone.com
Slide 15: Sales to Existing Clients
Sales to Existing Clients Many clients have shrunk during the recession. Smaller firms buy less licences and services. As the economy grows, it is reasonable to assume that they will again buy these products and services. www.dillistone.com
Slide 16: Growth in New Client Orders
Growth in New Client Orders Incoming orders in Q1 2010 show significant increase over Q1 2009. Prospect pipeline today is stronger than it was in Q2 of 2009. www.dillistone.com
Slide 17: Performance Expectations
Performance Expectations Broker Note: 2010: Revenue: £3.73m; Profit £1.1m 2011: No expectations published www.dillistone.com
Slide 18: Strategy for Organic Growth
Strategy for Organic Growth Drive for top and bottom line growth in a growing market Invest in development and launch of FF10 Build and strengthen the management team Use strength of balance sheet to expand the business www.dillistone.com
Slide 19: Strategy for Organic Growth
Strategy for Organic Growth Excellent Demographics for Executive Search “This is a global circumstance...no single nation can produce enough creativity, talent or knowledge to meet today’s marketplace challenges alone... but the problem is growing acute in the United States, where many seasoned and
Slide 20: Non-Organic Growth
Non-Organic Growth Strong balance sheet. Would consider earnings enhancing, targeted acquisitions. www.dillistone.com
Slide 21: Summary
Summary Excellent historical performance. Targets achieved in 2009. Increasing level of confidence in 2010 . Significant opportunity for organic growth in 2011. Considering use of balance sheet strength for non organic growth. www.dillistone.com
Slide 22: Thank You!
Thank You! www.dillistone.com