Servcorp Limited · ASX:SRV
Servcorp — Shareholder Meeting (November 2012)
16 slides from Servcorp's shareholder meeting presentation, Nov 21, 2012
Slide 1: Cover letter to ASX: 2012 Annual General Meeting
Serveorp Limited ie SE RVCO RP ABN 97 088 222 506 Level 12 MLC Centre 19-29 Martin Place Sydney NSW 2000 Australia T | +61 2 9231 7616 F | +61 2 9231 7665 W | servcorp,com,au 21 November 2012 The Manager Company Announcements Office Australian Securities Exchange By Electronic Lodgement Dear Sir Ser
Slide 2: Servcorp Limited Annual General Meeting
For personal use only Servcorp Limited Annual General Meeting A.G. Moufarrige, CEO Wednesday 21 November, 2012 Marcus Moufarrige, COO
Slide 3: Operational Highlights FY 2012
Operational Highlights FY 2012 For personal use only Revenue of $200,785,000, up 10% on FY 2011 Mature NPBT up 20% to $37,307,000, in line with guidance NPBT of $18,329,000, 7% above guidance Operating cash flow up 70% to $32,003,000 Unencumbered cash balances of $95,765,000 NTA backing
Slide 4: Operational Highlights: Total Floors
Operational Highlights FY 2012 For personal use only Total Floors at 30 June 2012 = 124 30 27 25 22 20 21 Number of Floors 18 15 12 12 10 9 5 3 0 Australia & New Japan Southeast Asia Middle East India Greater China Europe USA Zealand (Franchise) 2
Slide 5: Financial Results
Financial Results FY 2012 For personal use only FY 2012 FY 2011 Constant % $AUD 000's $AUD 000's Currency % Total revenue 200,785 182,056 10% 12% Mature floor net profit before tax 37,307 31,019 20% Immature floor loss (18,978) (27,983) (32%) Total net profit before tax 18,329 3,036 504% 503% Tax (3
Slide 6: Financial Results
Financial Results FY 2012 For personal use only As at As at 30 June 2012 30 June 2011 % $AUD 000's $AUD 000's Cash balances 104,334 99,993 4% Cash balance (unencumbered) 95,765 91,269 5% Total Net Assets 198,709 192,612 3% Net Tangible Assets (per share) $1.87 $1.81 3% FY 2012 FY 2011 % Earnings per
Slide 7: Mature Business
Mature Business FY 2012 For personal use only FY 2012 was a challenging year: o economically o commercially; and o from a trading point of view Competition in many markets continues to be aggressive We are encouraged by o Revenue growth of 10% o Mature profit growth of 20% Revenue and profit
Slide 8: Immature Business
Immature Business FY 2012 For personal use only Immature floor revenue continues to increase modestly each month We are satisfied with the progress of immature floors, except in the USA; o Challenges experienced caused an initial lag in revenue growth o Revenue lag has impacted the rate of matur
Slide 9: Immature Floors by Region
Immature Business FY 2012 For personal use only Immature Floors by Region at 30 June 2012 = 45 20 19 15 Number of Floors 10 8 8 5 4 2 2 2 0 Australia & New Japan Southeast Asia Middle East Greater China Europe USA Zealand 7
Slide 10: Global Expansion Update
Global Expansion Update For personal use only FY 2011 was Servcorp’s biggest expansion year ever, opened 40 floors Slowed expansion in FY 2012, opening 9 floors 62 new floors opened in the 36 months to 30 June 2012 Anticipate opening approximately 14 floors in FY 2013 8
Slide 11: Total Floor Openings
Global Expansion Update For personal use only 25 Total Floor Openings 48 Months ending 30 June 2013 22 1 20 19 Floors Forecast FY 2013 = 14 Floors opened FY 2012 = 9 Floors opened FY 2011 = 40 Number of Floors Opened 15 7 Floors opened FY 2010 = 13 Total Expansion = 76 12 19 2 10 3 9 1 2 6 7 5 4 5 3
Slide 12: Buyback
Buyback For personal use only Servcorp announced an on-market buy-back; o effective 11 September, 2012 o to buy up to 5.0 million ordinary shares o for a maximum period of 12 months The Directors have decided to implement this buy-back; o to utilise surplus cash; and o to improve EPS for shareho
Slide 13: Dividend
Dividend FY 2012 For personal use only Total dividends paid in relation to FY 2012 of 15.0 cents per share, 67.5% franked Dividend FY 2013 Forecast We expect to pay the following fully franked dividends: o Interim dividend of 7.5 cents per share o Final dividend of 7.5 cents per share These paym
Slide 14: Trading Update Q1 FY 2013
Trading Update Q1 FY 2013 For personal use only Global financial market turmoil continued to impact business confidence and office sales Trading conditions were very challenging, particularly in Singapore, Australia, Japan and the USA Trading results were substantially lower than originally ex
Slide 15: Outlook
Outlook For personal use only Despite a very challenging first quarter, where profits were below expectations, we intend to maintain our NPBT guidance of approximately $27 million: Approximately $9 million in H1 FY 2013, 10% ahead of H1 FY 2012 Approximately $18 million in H2 FY 2013, 77% ahea
Slide 16: Servcorp Limited Annual General Meeting
For personal use only Servcorp Limited Annual General Meeting A.G. Moufarrige, CEO Wednesday 21 November, 2012 Marcus Moufarrige, COO