Sgh Limited · ASX:SGH
Sgh — Seven Group Holdings — FY2010 Earnings Presentation
40 slides from Sgh's earnings presentation, Aug 25, 2010
Slide 1: ASX covering letter for results presentation
25 August 2010 Company Announcements Office Australian Securities Exchange Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 By Electronic Lodgement Total Pages: 40 (including covering letter) Following is a copy of the presentation of Results for the Year Ended 30 June 2010. Yours faithfully For an
Slide 2: Results for the Year Ended 30 June 2010
RESULTS FOR THE YEAR ENDED 30 June 2010 Presentation on Wednesday 25 August 2010
Slide 3: Disclaimer
DISCLAIMER FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 2. f Basis of preparation of slides f Indicative Accounts included as additional Information including Pro-forma 12 months. Included in this presentation is data prepared for the management of Seven Group Holdings Limited (SGH) and
Slide 4: Today's Agenda
Today’s Agenda FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 3. f Overview Peter Gammell f Media David Leckie f Industrial Services Jim Walker f Financials Peter Lewis f Outlook & subsequent events Peter Gammell f Closing & Questions Peter Gammell
Slide 5: Overview
Overview FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 4. Seven Group f Group Performance Highlights Holdings Limited f Group profit after tax of $719 million, marked with significant merger accounting impact 100% 45% f Pro-forma 12 month group operating revenue 66% Seven WesTrac 23% of $
Slide 6: Key Financial Numbers
Key Financial Numbers FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 5. Total Group – Statutory Numbers (refer disclaimer) 2 Months to June 2010 Profit before tax (excluding significant items) $ 39 m Profit after tax (excluding significant items) $ 28 m Reported net profit after tax for th
Slide 7: Today's Agenda
Today’s Agenda FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 6. f Overview Peter Gammell f Media David Leckie f Industrial Services Jim Walker f Financials Peter Lewis f Outlook & subsequent events Peter Gammell f Closing & Questions Peter Gammell
Slide 8: GoSeven
GOSEVEN FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 7. RATINGS Primetime 2007 2008 2009 2010 Breakfast Television 2004 2005 2006 2007 2008 2009 2010 Overall, 6.00am - Midnight 2006 2007 2008 2009 2010 News and Public Affairs 2005 2006 2007 2008 2009 2010 REVENUE RATINGS SHARE DOMINANCE
Slide 9: Pacific Magazines market position
FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 8. f 48% of the weekly market f 57% of real life titles and 51% of celebrity weeklies f 7.3 million Australians 14+ read a Pacific Magazines title every month f Market share for the six months to June 2010 has increased to 29.8% share of total
Slide 10: Yahoo!7
YAHOO!7 FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 9. f 1 in 2 online Australians visit Yahoo!7 every month f 7m users on the Australian Network (Nielsen May 2010) versus 5m (Nielsen June 2009) f Number One in Sport, Finance and Lifestyle f Launch of new Total Travel website (July 10)
Slide 11: Seven Media Group Full Year Results
SEVEN MEDIA GROUP FULL YEAR RESULTS FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 10. FY10 ACTUALS (refer disclaimer) Seven Media Group FY10 ACTUAL FY09 ACTUAL Revenue 1,466.6 1,492.8 EBITDA 351.2 289.0 Television Magazines FY10 FY09 FY10 FY09 ACTUAL ACTUAL ACTUAL ACTUAL Revenue 1,134.2 1
Slide 12: SMG – The Next 12 Months
SMG – THE NEXT 12 MONTHS… FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 11. f Operational Focus f Continued strong local program slate f Ongoing tight cost control focus – CPI type cost growth expected f Retain existing and engaging new key talent f Priorities for 2011 f Television – Prog
Slide 13: Pro-forma Media & Investments P&L
PRO-FORMA MEDIA & INVESTMENTS P&L FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 12. Indicative Accounts – refer disclaimer Pro-forma Scheme Change year to Booklet June 2010 pro-forma $m $m Revenue 77.6 79.4 -2.2% Other Income 8.4 6.9 22.4% Share of results from equity accounted investees
Slide 14: Pro-forma Media & Investments P&L – Share of Associates
PRO-FORMA MEDIA & INVESTMENTS P&L FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 13. Indicative Accounts – refer disclaimer Pro-forma Scheme Change year to Booklet June 2010 pro-forma $m $m Share of Associates Seven Media Group (3.7) (12.2) -69.7% Consolidated Media Holdings 16.3 13.5 20.7
Slide 15: Pro-forma Media & Investments P&L
PRO-FORMA MEDIA & INVESTMENTS P&L FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 14. Indicative Accounts – refer disclaimer Pro-forma Scheme Change year to Booklet June 2010 pro-forma $m $m Revenue Television 1,134.2 1,090.3 4.0% Magazines 319.0 321.0 -0.6% Share of associates 13.4 9.9 35.
Slide 16: Today's Agenda
Today’s Agenda FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 15. f Overview Peter Gammell f Media David Leckie f Industrial Services Jim Walker f Financials Peter Lewis f Outlook & Subsequent events Peter Gammell f Closing & Questions Peter Gammell
Slide 17: 2010 WesTrac Group Full Year Result
2010 WesTrac Group Full Year Result FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 16. (excluding National Hire and refer disclaimer) f Group targets achieved f Strong cash inflows f Operating c.$181m f Free cash flow c.$141m 200 188 186 2,500 2,286 2,274 EBITDA Total Revenue 180 162 162 1
Slide 18: WesTrac Group Full Year Results – Australia
WESTRAC GROUP FULL YEAR RESULTS FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 17. Indicative accounts – refer disclaimer Australia’s 2010 Result Australia’s Highlights f Sales of $1,636m, above target by $23m f Capital sales pipeline is strong and building f EBITDA of $162m in line with S
Slide 19: WesTrac Group Full Year Results – China
WESTRAC GROUP FULL YEAR RESULTS FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 18. Indicative accounts – refer disclaimer China’s 2010 Result China Highlights f Sales achievement affected by supply f China remains on high growth rate path shortages, however f Focus on growing mining market
Slide 20: National Hire Group FY10 Full Year Results
National Hire Group Ltd (including equity accounted interest in Coates Group*) FY10 FULL YEAR RESULTS Presentation 25 August 2010 Full Year Results for 12 months ended 30 June 2010 Slide 19. 12 months ended 30 June 2010 2009 Change ($million) Revenue 86.9 106.7 -19% EBITDA 3.4 7.6 -55% Depreciation
Slide 21: WesTrac – The Next 12 Months
WesTrac - the next 12 months... FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 20. f 2010 finishes with strong momentum f Strong market fundamentals continue: f Mining - Iron ore and coal f China – urbanisation, mining and power generation f Management expects WesTrac group sales and earni
Slide 22: Pro-forma WesTrac Profit & Loss
PRO-FORMA WESTRAC PROFIT & LOSS FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 21. Indicative Accounts – refer disclaimer Pro-forma Scheme Change year to Booklet June 2010 pro-forma $m $m Total Revenue Australia 1,635.5 1,613.3 1.4% China 650.7 660.6 -1.5% 2,286.2 2,273.8 0.5% Expenses (ex
Slide 23: Today's Agenda
Today’s Agenda FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 22. f Overview Peter Gammell f Media David Leckie f Industrial Services Jim Walker f Financials Peter Lewis f Outlook & Subsequent events Peter Gammell f Closing & Questions Peter Gammell
Slide 24: Consolidated Profit & Loss
CONSOLIDATED PROFIT & LOSS FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 23. Total Group – Statutory Accounts 2 months to June 2010 $m Revenue 537.6 Other Income 2.8 Share of results from equity accounted investees 14.3 Total Revenue 554.6 Expenses (excluding interest) (495.7) EBITDA 58.9
Slide 25: Changes in Equity
CHANGES IN EQUITY FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 24. Total Group – Statutory Accounts 2 Months to June 2010 $m $m Opening Balance of Equity 0.0 Share Capital 2,608.9 Dividends Paid (12.0) 2,596.9 Common Control Reserve (642.6) Profit / (loss) for the period (including signi
Slide 26: Consolidated Cash Flow
CONSOLIDATED CASH FLOW FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 25. Total Group – Statutory Accounts 2 months to June 2010 $m EBITDA 58.9 Working capital movements (83.4) Share of associates profit/(loss) (14.3) Other non-cash items (2.0) Dividends received from equity accounted inve
Slide 27: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 26. Total Group – Statutory Accounts As at June 2010 $m Trade and other receivables 452.8 Inventories 682.7 Intangible assets 577.3 Investments/Loans 2,120.6 Fixed assets 241.1 Trade and other payables (371.0) Provis
Slide 28: Consolidated Debt Profile
CONSOLIDATED DEBT PROFILE FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 27. Total Group – Statutory Accounts As at June 2010 $m Cash and cash equivalents 455.2 Derivative financial instruments (12.6) Interest bearing loans and borrowings (686.2) Net Debt (243.6) Undrawn facilities at June
Slide 29: Pro-forma Consolidated Profit & Loss
PRO-FORMA CONSOLIDATED PROFIT & LOSS FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 28. Normalised Indicative Accounts – refer disclaimer Pro-forma Scheme Change year to Booklet June 2010 pro-forma $m $m Revenue 2,362.6 2,350.7 0.5% Other Income 8.3 6.9 21.0% Share of results from equity a
Slide 30: Pro-forma Consolidated Profit & Loss reconciliation
PRO-FORMA CONSOLIDATED PROFIT & LOSS FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 29. Normalised Indicative Accounts – refer disclaimer Period to June 2010 $m 2 months actual Profit/(Loss) before tax (excluding significant items) 39.4 Additional 10 months from Industrial Services 47.7 Ad
Slide 31: Pro-forma Consolidated Cash Flow
PRO-FORMA CONSOLIDATED CASH FLOW FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 30. Normalised Indicative Accounts – refer disclaimer Pro-forma Scheme Change year to June Booklet Pro- 2010 forma $m $m EBITDA 239.0 223.9 + 6.8 % Working capital movements 32.8 32.0 + 2.6 % Share of associate
Slide 32: Pro-forma Consolidated Balance Sheet
PRO-FORMA CONSOLIDATED BALANCE SHEET FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 31. Normalised Indicative Accounts – refer disclaimer As at Scheme Difference June 2010 Booklet - not Pro-forma comparable at Dec 2009 $m $m Trade and other receivables 452.8 336.5 + 34.6 % Inventories 682.
Slide 33: Pro-forma Consolidated Investment Listing
PRO-FORMA CONSOLIDATED INVESTMENT LISTING FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 32. Normalised Indicative Accounts – refer disclaimer As at June 2010 $m Listed Portfolio 393.3 Consolidated Media Holdings 424.5 West Australian Newspapers 393.6 Coates Hire (through National Hire Gro
Slide 34: Today's Agenda
Today’s Agenda FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 33. f Overview Peter Gammell f Media David Leckie f Industrial Services Jim Walker f Financials Peter Lewis f Outlook & Subsequent events Peter Gammell f Closing & Questions Peter Gammell
Slide 35: Outlook & Subsequent Events
Outlook & Subsequent Events FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 34. f Outlook – refer disclaimer f Key forecasts (excluding National Hire) included in the Scheme Booklets. f Pro-forma 12 month EBITDA to June 2010 up 7% on Scheme Documents forecast, excluding National Hire. f Cur
Slide 36: Agricultural Bank of China (ABC)
Agricultural Bank of China (ABC) FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 35. f Strategic Rationale. f Three levels of relationship with ABC f as a shareholder, f as a customer, f as a strategic partner mutually developing each others business. f As a shareholder - A$293m for 608.64m
Slide 37: Appendix
Appendix FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 36. f Vividwireless f Engin
Slide 38: Vividwireless: 2010 Overview and Achievements
FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 37. 2010 Overview and Achievements • FY10 Revenue was $25.1m, down 26% from FY09 • The Perth project included an upgrade of existing OSS due to a decline in Unwired subscribers & BSS to support the new 4G network • FY10 Gross Margin was $21.4m
Slide 39: Engin: 2010 Overview and Achievements
FY10 FULL YEAR RESULTS Presentation 25 August 2010 Slide 38. 2010 Overview and Achievements • Full year EBITDA of $0.7m – a significant • The company has little debt, with only $0.3m of finance improvement of $2.2m on the prior year EBITDA loss leases outstanding at the end of the year. of $1.5m • D
Slide 40: Seven Group Holdings Limited
SEVEN GROUP HOLDINGS | imited 9 | WesTrac | Media, Industrial Services and Investments