Mcmillan Shakespeare Limited · ASX:MMS
Mcmillan Shakespeare — FY2009 Earnings Presentation
11 slides from Mcmillan Shakespeare's earnings presentation, Aug 18, 2009
Slide 1: Results Presentation and Analyst Briefing
For personal use only McMillan Shakespeare Limited Results Presentation and Analyst Briefing Michael Kay – CEO Mark Cansdale – CFO August 2009
Slide 2: Financial Performance
Financial Performance For personal use only % increase FY09 FY08 over prior $'000 $'000 year Total revenue and other income 77,259 66,624 16.0% EBITDA 29,511 25,596 15.3% EBIT 27,653 24,145 14.5% NPAT 20,523 17,368 18.2% ROE 39% 39% ROE adjusted for surplus cash 60% 51% Basic earnings per share (cen
Slide 3: Highlights and Key Activities
Highlights and Key Activities For personal use only NPAT growth of 18.2% to $20.5m. Revenue growth of 16.0% to $77.3m. EPS growth of 17.9% to 30.4 cents per share. Core operating margin improvement of 3.6 percentage points.(1) Note 1: Operating margin - profit before finance, tax and depreciation as
Slide 4: Highlights and Key Activities (continued)
Highlights and Key Activities For personal use only Cash position of $28.0m. Final dividend of 10.5 cents per share (total 19.0 cents) compared to prior year of 9.0 cents per share (total 16.5 cents). Return on equity of 38.9%. Customer service metrics improved 46 per cent over the period December 2
Slide 5: Highlights and Key Activities (continued)
Highlights and Key Activities For personal use only We have refined our strategy extending from “salary packaging administration” to “workplace benefits”. Our first new benefits will be launched during the first half of FY10. We facilitated more novated lease packages than FY08, notwithstanding a 20
Slide 6: Highlights and Key Activities (continued)
Highlights and Key Activities For personal use only - IT strategy began in earnest; further reductions in cost to serve with simultaneous improvements in service expected in FY10. - Assumed leadership role on relevant FBT issues – Henry enquiry. - Commenced the development of sophisticated HR tools
Slide 7: Key Financial Performance Measures
Key Financial Performance Measures For personal use only Revenue and EBITDA performance Net profit after tax (NPAT) 25.0 100.0 80.0 20.0 $ millions 60.0 $ millions 15.0 40.0 10.0 20.0 0.0 5.0 FY04 FY05 FY06 FY07 FY08 FY09 0.0 FY04 FY05 FY06 FY07 FY08 FY09 Revenue EBITDA NPAT P6 August 2009
Slide 8: Key Financial Performance Measures
Key Financial Performance Measures For personal use only Earnings per share (EPS) Dividends per share 35.0 20 30.0 18 25.0 16 14 20.0 cents 12 cents 15.0 10 10.0 8 5.0 6 4 0.0 2 FY04 FY05 FY06 FY07 FY08 FY09 0 Basic EPS Cash EPS FY04 FY 05 FY 06 FY 07 FY 08 FY 09 Cash EPS – Net operating cash flow f
Slide 9: Key Efficiency and Service Measures
Key Efficiency and Service Measures For personal use only MSL Productivity Index MSL Customer Satisfaction Index July 2008 = 100 December 2008 = 100 108 160 106 140 104 120 102 100 100 80 60 98 40 96 20 94 0 92 9 9 09 09 8 8 09 9 8 09 -0 l-0 -0 -0 -0 -0 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 n- n- b- r-
Slide 10: Outlook
Outlook For personal use only Continuing profitable growth through: - Acquisition of new packaging customers. - Better participation rates. - Reduction in “cost to serve”. - Additional revenue streams/products and services. - Ongoing M&A program. P9 August 2009
Slide 11: Focus for 2009/10
Focus for 2009/10 For personal use only Key Sensitivities: Car sales market. Interest rates. Investment in: Product development in line with our strategy. Execution of IT strategy to support growth and cost/service initiatives. Ongoing focus on marketing/branding. New Melbourne accommodation (second