Brambles Limited · ASX:BXB
Brambles — Recall Holdings — Merger or Acquisition (October 2013)
16 slides from Brambles's merger presentation, Oct 28, 2013
Slide 1: Cover letter: Demerger of Recall Holdings by Brambles
Brambles Limited ABN 89 118 896 021 Level 40 Gateway 1 Macquarie Place Sydney NSW 2000 Australia GPO Box 4173 Sydney NSW 2001 Tel +61 2 9256 5222 Fax +61 2 9256 5299 www.brambles.com For personal use only 28 October 2013 The Manager-Listings Australian Securities Exchange Limited Exchange Centre 20
Slide 2: Investor Presentation and Disclaimer
For personal use only Document Management Solutions | Secure Destruction Services | Data Protection Services Investor Presentation 28 October 2013 Disclaimer This presentation contains general information in summary form which is current as at 28 October 2013. The information contained in this prese
Slide 3: Agenda and Key Takeaways
Agenda For personal use only 1 Introduction 2 Investment Highlights 3 Business Strategy 4 Financial Overview Note: All dollar amounts in the presentation are US dollars unless otherwise stated. All financials in this presentation are Pro Forma for standalone corporate costs and the impact of the acq
Slide 4: Global Provider of Information Management Solutions
Whiteboard Marketing Video For personal use only 5 Service Offerings Document Management Solutions Secure Destruction Services Data Protection Services (74% of FY13 Revenue) (15% of FY13 Revenue) (11% of FY13 Revenue) • Storage, indexing and retrieval • Secure collection • Offsite storage, rotation,
Slide 5: Customer Value Proposition
Customer Value Proposition For personal use only Document Retention Drivers Growing information management industry • Regulatory requirements • Litigation • Security Recall business focus • Complexity of information Essential business records and high value documents Customer Needs • Physically veri
Slide 6: Value Drivers and Strong Global Platform
Value Drivers For personal use only Experienced Strong Global Management Platform Team Well Diverse Positioned Customer for Growth Base Attractive Stable and Margins and Recurring Cash Flow Revenue 9 Strong Global Platform Emerging markets 77 Facilities 24% of Revenue(1) 26 Facilities 8% of Revenue(
Slide 7: Diverse Customer Base and Stable, Recurring Revenue
Diverse, High Quality Customer Base For personal use only Customer Concentration(1) Split of Top 20 Customers 4% Top 10 5% Financial services 10 – 20 5% Government Remainder Consulting 5% Technology 13% 83% Energy Insurance 4% 67% 14% • Recall services ~80% of the Fortune 100 and >65% of the Fortune
Slide 8: Attractive Margins and Cash Flow; Growth: Physical
Attractive Margins and Cash Flow For personal use only Underlying EBITDA Margins Capex ($M) Cash Flow ($M) 150 11% 12% 250 27% 10% 10% 24% 25% 130 10% 200 110 169 160 90 90 85 8% 147 142 90 150 130 70 6% 98 100 50 4% 30 50 2% 10 0 FY11 FY12 FY13 ‐10 0% FY11 FY12 FY13 FY11 FY12 FY13 % of Revenue Oper
Slide 9: Well Positioned for Growth: Digital; Management Team
Well Positioned for Growth: Digital For personal use only • Recall capitalising on digital growth opportunity — Business process and workflow solutions drive customer cost efficiencies — Cloud‐based content management systems store, manage and back‐up data — Tailored solutions help reduce risk and d
Slide 10: Business Strategy: Competitive Differentiation
For personal use only 3. Business Strategy ©2013 Recall Holdings. Proprietary & Confidential Competitive Differentiation • Standard operating • Full chain of procedures (SOPs) custody • Dedicated account • Third‐party audits management • Security breach Service Security protocols Global/ National In
Slide 11: Market Drivers and Strategy Initiatives
Market Drivers and Strategy Initiatives For personal use only • Gain Market Share Regulation & Litigation • Convert Unvended Growth • Expand Service Offering Initiatives • Geographic Expansion • Acquisitions Global Requirements • Sales Force Effectiveness Provider Rationalisation Go To • Global Acco
Slide 12: Financial Overview: Historical Financial Profile
For personal use only 4. Financial Overview ©2013 Recall Holdings. Proprietary & Confidential Historical Financial Profile • FY12: Business prepared for sale with aggressive cost‐out and low business development • FY13: Impacted by sale process, lower transactional activity, lower paper prices and n
Slide 13: Capital Structure and Target Dividend Policy
Capital Structure For personal use only • Recall net debt at Demerger of approximately $500M • $800M multi‐currency syndicated facility —Combination of three‐year and five‐year maturities —Covenants: — Net debt(1) to EBITDA: less than 3.5x — EBITDA to net finance costs: not less than 3.5x Net debt/F
Slide 14: Trading Update and Outlook
Trading Update and Outlook(1) For personal use only • Total 1Q14 Pro Forma Sales Revenue: $206M, up 3% in constant currency(1) —Reflects 8% growth in core DMS business: driven by growth in carton storage volumes and revenue, as well as related activities —Offset by lower revenue in SDS business: due
Slide 15: Appendices
For personal use only Document Management Solutions | Secure Destruction Services | Data Protection Services Investor Presentation 28 October 2013 Appendices ©2013 Recall Holdings. Proprietary & Confidential
Slide 16: Board of Directors
Board of Directors(1) For personal use only Ian Blackburne, Chairman(2) • Current Chairman of Aristocrat Leisure (ASX) and Director of Teekay Corporation (NYSE) • Former Chairman of CSR and the Australian Nuclear Science & Technology Organisation • Former Non‐Executive director of Suncorp‐Metway and
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