Corporate Travel Management Limited · ASX:CTD
Corporate Travel Management — FY2012 Earnings Presentation
27 slides from Corporate Travel Management's earnings presentation, Aug 30, 2012
Slide 1: Corporate Travel Management FY12 Result Presentation
For personal use only travelctm.com Jamie Pherous, Managing Director Steve Fleming, CFO
Slide 2: Disclaimer
Disclaimer This document is not a prospectus under Australian law and does not constitute an offer, invitation or recommendation to subscribe for or purchase any security or financial product and For personal use only neither this document nor anything contained in it shall form the basis of any con
Slide 3: Agenda
Agenda For personal use only • Group Performance Highlights • Financial Performance • Acquisition Update • Brand and Product Innovation • Key Initiatives • Looking Forward
Slide 4: Group Results
Group Results For personal use only FY2012 FY2011 Change on PCP (%) EBITDA up 38% on p.c.p TTV $m 681.300 502.341 +36% (unaudited) EBITDA margins consistent Revenue $m 65.277 46.465 +40% EBITDA $m TTV up 36% converted to a 17.966 12.331 +46% (unadjusted) 40% increase in revenue EBITDA $m 17.51
Slide 5: Years of Outperforming Sales Growth
12 Years of Outperforming Sales Growth 800 For personal use only 600 TTV $m 400 681 502 200 352 316 235 140 16 19 29 42 56 81 0 00/01 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 • Growth in every year of operation, even throughout the GFC • Last six years compound growth rate:
Slide 6: Lead Indicators since IPO Dec'10
Lead Indicators since IPO Dec’10 For personal use only Revenue $'000 EBITDA $'000 70,000 20,000 18,000 60,000 16,000 50,000 14,000 12,000 40,000 10,000 30,000 8,000 6,000 20,000 4,000 10,000 2,000 - - 2010 2011 2012 2010 2011 2012 ROE EPS 60.00 18.0 *50% 50.00 16.0 14.0 40% 40.00 12.0 32% 10.0 30.00
Slide 7: Group Performance – 2HFY12 Highlights
Group Performance – 2HFY12 Highlights For personal use only • 2HFY12 underlying EBITDA $10.2m v 1HFY12 $7.3m Financial • Skewed to 2H due to supplier payments/new clients • Record new client wins combined with strong retention • Winning market share from a mix of Global TMC’s and Growth boutique ope
Slide 8: CTM Profile
CTM Profile Who We Are For personal use only Professional Services provider of Corporate Travel with focus on: • Personalised Service • Innovative Technology that adds value • Underpinned by demonstrated ROI to client • Established 18 years • Offices in Sydney, Melbourne, Brisbane, Gold Coast, Perth
Slide 9: Winning Market Share
Winning Market Share For personal use only Global TMCs • Call centre mentality • Reactive. Harder to tailor to Boutique TMCs client needs (no local decision • Highly personalised making) service • Technology not always market • Adaptable to client needs compatible • Technology = major barrier • Scal
Slide 10: Agenda
Agenda For personal use only • Group Performance Highlights • Financial Performance • Acquisition Update • Brand and Product Innovation • Key Initiatives • Looking Forward
Slide 11: Comparative Statutory FY12 Profit and Loss
Comparative Statutory FY12 Profit and Loss June 2012 June 2011 For personal use only % of Income % of Income $'000 $'000 TTV (unaudited) 681,300 502,341 Travel & Other Revenue 65,277 46,965 Yield % of TTV 9.6% 9.2% Other Income 683 - Operating Expenses (47,994) 72% (33,803) 73% Other Expenses - (331
Slide 12: Balance Sheet Summary ($m)
Balance Sheet Summary ($m) • For personal use only Minimal debt As at 30 June As at 30 June 2012 2011 $m $m • Intangibles largely goodwill on Cash 12.2 15.7 acquisitions Receivables and other 26.1 12.7 Total current assets 38.3 28.4 • Net tangible assets of $10.3m, up $1.1m PP&E 2.6 1.3 Intangibles
Slide 13: Cash Flow Summary ($m)
Cash Flow Summary ($m) For personal use only 12 months 12 months to Jun 2012 to Jun 2011 • Operating cash flow impacted by tax EBITDA 18.0 12.4 payments and larger supplier payment accruals (timing issue) Change in working capital (7.5) (0.3) • Growing TTV means larger supplier payment Income tax pa
Slide 14: Agenda
Agenda For personal use only • Group Performance Highlights • Financial Performance • Acquisition Update • Brand and Product Innovation • Key Initiatives • Looking Forward
Slide 15: etm Update
etm Update For personal use only • Another successful acquisition • Integration complete and transacted settled • Strong performance by Events (MICE) including cross-sell into CTM accounts • etm awarded Best Events Company 2012 AFTA Awards
Slide 16: USA Update
USA Update For personal use only • 100% - staff and client retention • Transition on track – business plan agreed • Committed a senior CTM manager to USA • Encouraged by early opportunities: • Won more business in 1st two months than any previous full year • Cross-sell – Australian-based accounts wh
Slide 17: Agenda
Agenda For personal use only • Group Performance Highlights • Financial Performance • Acquisition Update • Brand and Product Innovation • Key Initiatives • Looking Forward
Slide 18: Brand Innovation
Brand Innovation For personal use only • Unique offering tailored for industry nuances
Slide 19: Product Innovation
Product Innovation Business Intelligence Reporting For personal use only • Best in market diagnostic tools for clients, developed with our clients • Ability to deliver consolidated reporting and cost reduction strategy consistently across clients in Australia/NZ/USA. Rolling out across the CTM group
Slide 20: U-approve and Ticketbank
U-approve and Ticketbank For personal use only • Innovation that support client objectives and future organic growth • Rolling out across Australia through 1HFY13
Slide 21: Agenda
Agenda For personal use only • Group Performance Highlights • Financial Performance • Acquisition Update • Brand and Product Innovation • Key Initiatives • Looking Forward
Slide 22: Key Initiatives into FY13
Key Initiatives into FY13 For personal use only
Slide 23: Agenda
Agenda For personal use only • Group Performance Highlights • Financial Performance • Acquisition Update • Brand and Product Innovation • Key Initiatives • Looking Forward
Slide 24: Looking Forward
Looking Forward FY13 guidance 15% - 20% underlying EBITDA growth on p.c.p. (circa $20m-$21m EBITDA) For personal use only • Subject to no further erosion in the broader economy • Dividend policy remains at 50-60% of NPAT Key drivers affecting FY13 performance: • Continue to listen to clients and imp
Slide 25: Year Plan: Milestones to December 2014
5 Year Plan. For personal use only • Milestones to December 2014: • Regional presence in Aust, NZ, USA, Asia & Europe • Focus on cross-selling clients • Leverage best practice innovation process across group • Aggressive internal organic growth targets whilst retaining CTM’s highly differentiated se
Slide 26: Year Plan: Next phase
5 Year Plan. For personal use only • Next phase: • Increasingly targeting global and regional clients • USA – replicate Australian model through combination of further accretive acquisitions & organic growth • Capital management program that supports business growth • Aspire to be the alternative to
Slide 27: travelctm.com
For personal use only travelctm.com
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