Corporate Travel Management Limited · ASX:CTD
Corporate Travel Management — Shareholder Meeting (October 2015)
32 slides from Corporate Travel Management's shareholder meeting presentation, Oct 27, 2015
Slide 1: Corporate Travel Management - Annual General Meeting
For personal use only Corporate Travel Management - Annual General Meeting
Slide 2: Disclaimer
Disclaimer The information in this presentation does not constitute personal investment advice. The presentation is not intended to be comprehensive or provide all information required by investors to make an informed decision on any investment in Corporate For personal use only Travel Management Li
Slide 3: Overview FY15 Results
For personal use only Overview FY15 Results Page: 3
Slide 4: FY15 Group Result Highlights
FY15 Group Result Highlights $m FY2015 Change on P.C.P Underlying EBITDA up 70% to $49.1m For personal use only versus Feb15 revised upgraded guidance, $48m+. TTV (unaudited) 2,656 ↑ 92% Over half of profit growth is organic. Revenue and other 197.9 ↑ 79% Strong top line growth in every CTM re
Slide 5: Underlying EBITDA Growth Summary ($m)
Underlying EBITDA Growth Summary ($m) For personal use only 0.7 1.6 2.2 49.1 6.1* 4.5 1.5 2.8 4.1 28.9 FY14 ANZ Organic NA M&A NA Organic Asia Organic Asia M&A Europe M&A Europe Global FY15 Organic O/head * The results represents full year for comparative purposes only. CTM acquired the business 31
Slide 6: CTM – Years Since IPO
For personal use only CTM – 5 Years Since IPO Page: 6
Slide 7: CTM Global Footprint
CTM Global Footprint For personal use only EUROPE Market Size USD500b CTM Market Share <1% USA Market Size USD320b CTM Market Share <1% ASIA Market Size USD650b CTM Market Share 1%+ ANZ Market Size AUD7.5b CTM Market Share 12% CTM office Operating out of 81 cities in 53 countries, employing over 180
Slide 8: Over Years of Continued Growth
Over 20 Years of Continued Growth 3500 For personal use only 3250 Key growth metrics since FY10 IPO 3000 Dec10 TTV up over 750% 2750 Statutory EBITDA up over 850% ASX200: 2656 2500 4700 Source: 2010 CTM Prospectus 2250 2000 TTV AUDm 1750 1500 1384 1250 1000 884 750 682 500 502 250 316 352 235 16 19
Slide 9: EPS Growth Since IPO
EPS Growth Since IPO Dec 10 For personal use only 30.0 27.9 cents per share 25.0 20.0 18.8 16.3 *14.9 15.0 13.5 10.0 6.6 5.0 - 2010 2011 2012 2013 2014 2015 * Restated downwards for voluntary change in accounting policy on recognition of pay direct commissions Page: 9
Slide 10: Award Winning across CTM regions
Award Winning across CTM regions For personal use only ANZ ASIA UK 2014 Best National Travel 2014 Best Travel Agency 2015 Best Travel Management Company Hong Kong Winner Management Company 9 of the last 12 years 6 of the last 8 years Winner 3 of 3 years ETM Best Events Company 3 of the last 4 years
Slide 11: Building Geographic Diversity – EBITDA Contribution by region
Building Geographic Diversity – EBITDA Contribution by region* * Before global overhead costs For personal use only FY10 FY14 FY15 16% 5% 30% 17% 47% 67% 18% 100% ANZ Asia NA ANZ Asia NA ANZ EUR Majority of profit derived off-shore in FY15 and expect this trend to continue in FY16 Page: 11
Slide 12: Trading Update: Updated FY16 Outlook by Region
For personal use only Trading Update Updated FY16 Outlook by Region Page: 12
Slide 13: Trading Update - ANZ
Trading Update - ANZ For personal use only Record start to the year in new client wins and retentions, SMART technology being a key contributing factor. Client activity remains steady. Expect single digit profit growth due to tough economic environment in ANZ. A continuation of market share gr
Slide 14: Trading Update - ASIA
Trading Update - ASIA For personal use only Good start with new clients wins in 1QFY15, both locally and globally. Expecting a strong year underpinned by top line growth and leveraging the CTM Global network. 1QFY15 client activity experienced a slight decline but quickly recovered in October
Slide 15: Trading Update - USA
Trading Update - USA Primary focus upon integration, and building a long term organisational structure to enable scalable For personal use only platform for future growth. Major integration completed and resulting staff redundancy costs in 1QFY16 profit. Experienced a decline in client activit
Slide 16: Trading Update – UK/Europe
Trading Update – UK/Europe For personal use only Record start to the year in new client wins, with the CTM global network and SMART technology key contributing factors. Focus upon productivity and building sustainable organisational structure for long term growth. London client activity slight
Slide 17: Profit Guidance Update – Group overview
Profit Guidance Update – Group overview For personal use only Trading at top end of underlying EBITDA guidance of $61.3m- $63.8m, or circa +30% growth on the p.c.p., primarily due to building market share through new client wins across the group. Any future acquisitions will be in addition to th
Slide 18: Looking forward
For personal use only Looking forward Page: 18
Slide 19: FY16 Key Strategic Initiatives
FY16 Key Strategic Initiatives • Enhance our value proposition and leverage competitive advantage across CTM network Continued Organic Growth • Outperform in local, regional and global segments, through a motivated sales team For personal use only • Execute upon M&A opportunities, remain disciplined
Slide 20: CTM SMART Technology – significant client uptake
CTM SMART Technology – significant client uptake For personal use only Number of Number of clients using SMART SMART: Travel Applications 462 13 Number of SMART Portal users 40,000+ Page: 20
Slide 21: Summary
Summary For personal use only Excellent execution in FY15 resulting in above-guidance performance: • EPS growth of 48% for FY15, over 33% CAGR since listing in 2010. • Over half of the FY15 profit growth was organic, despite 4 accretive acquisitions during year. • Top line growth attributable to CTM
Slide 22: Thank you
For personal use only Thank you www.travelctm.com
Slide 23: Corporate Travel Management - Annual General Meeting
For personal use only Corporate Travel Management - Annual General Meeting
Slide 24: Resolution 1: Directors Remuneration Report
Resolution 1: For personal use only Directors Remuneration Report Proxies Received For Against Abstain Discretion # of Votes cast 177 44 16 68 29,124,318 146,403 2,405,556 279,363 Votes able to be cast 98.56% .50% - .95%
Slide 25: Resolution 2: Re-election of Mr Greg Moynihan
Resolution 2: For personal use only Re-election of Mr Greg Moynihan Proxies Received For Against Abstain Discretion # of Votes cast 220 8 8 72 54,416,030 35,274 8,298 2,408,169 Votes able to be cast 95.7% .06% - 4.24%
Slide 26: Resolution 3: Re-election of Mr Stephen Lonie
Resolution 3: For personal use only Re-election of Mr Stephen Lonie Proxies Received For Against Abstain Discretion # of Votes cast 222 6 8 72 54,418,490 32,814 8,298 2,408,169 Votes able to be cast 95.71% .06% - 4.24%
Slide 27: Resolution 4: Ratification of share issue to Chambers Travel vendors
Resolution 4: For personal use only Ratification and approval of previous issue of shares to Chambers Travel vendors Proxies Received For Against Abstain Discretion # of Votes cast 207 16 10 73 53,488,103 26,636 9,136 2,411,715 Votes able to be cast 95.64% .05% - 4.31%
Slide 28: Resolution 5: Ratification of share issue to Diplomat Travel vendors
Resolution 5: For personal use only Ratification and approval of previous issue of shares to Diplomat Travel vendors Proxies Received For Against Abstain Discretion # of Votes cast 208 18 9 74 54,418,719 28,348 8,739 2,411,965 Votes able to be cast 95.71% .05% - 4.24%
Slide 29: Resolution 6: Ratification of share issue to TravelCorp LLC vendors
Resolution 6: For personal use only Ratification and approval of previous issue of shares to TravelCorp LLC vendors Proxies Received For Against Abstain Discretion # of Votes cast 207 18 10 74 54,415,533 28,248 12,025 2,411,965 Votes able to be cast 95.71% .05% - 4.24%
Slide 30: Resolution 7: Approval of employee incentive scheme
Resolution 7: For personal use only Approval of employee incentive scheme Proxies Received For Against Abstain Discretion # of Votes cast 187 29 18 71 30,128,039 1,562,255 17,712 2,405,206 Votes able to be cast 88.36% 4.58% - 7.05%
Slide 31: Thank you
For personal use only Thank you www.travelctm.com
Slide 32: Corporate Travel Management - Annual General Meeting
For personal use only Corporate Travel Management - Annual General Meeting
Corporate Travel Management — Shareholder Meeting (October 2015) on 6ix