Mcmillan Shakespeare Limited · ASX:MMS
Mcmillan Shakespeare — Macquarie Conference 2018
9 slides from Mcmillan Shakespeare's conference presentation, Nov 27, 2018
Slide 1: McMillan Shakespeare Limited - Macquarie Conference presentation
McMillan Shakespeare Limited Macquarie Conference presentation Mike Salisbury, CEO 27 November 2018
Slide 2: Disclaimer and important notice
Disclaimer Disclaimer and important notice This presentation has been prepared by McMillan Shakespeare Limited ABN 74 107 233 983 (“MMS”). It contains summary information about MMS and its subsidiaries and their activities current as at the date of this presentation. The presentation contains select
Slide 3: FY19 Update
FY19 Update Growth What’s New Beyond 2020 Maxxia UK Plan Partners Activity system Novated Lease 3 year investment to Softer start – Brexit Rebranding launched driving participation Buyback initiative drive margin and new Euro Continuing to build launched improvement and emission standards Continued
Slide 4: A recap of the agreed merger with Eclipx
A recap of the agreed merger with Eclipx Offer consideration Eclipx shareholders to receive 0.1414 MMS shares and $0.46 cash for each Eclipx share held Creates a leading Australian and New Zealand salary packaging and fleet management provider $50 million in EBITDA run-rate synergies per annum expec
Slide 5: Key outcomes and summary of events
MMS and Eclipx have been in discussions for twelve months, culminating in a period of due diligence and an agreed merger December November January February March April May June July August September October 2017 2018 Industrial logic / Re-engagement / Due diligence / Management discussions Cultural
Slide 6: $50 million in EBITDA run-rate synergies per annum expected within three years
$50 million in EBITDA run-rate synergies per annum expected to be fully realised within three years before transaction and implementation costs Synergy category Assumptions Employee Workforce efficiency improvements, including the removal of duplicated roles Novated lease Higher yields and increased
Slide 7: Overview of the Combined Group following completion
Overview of the Combined Group following completion Fleet and Commercial Workplace Benefits Consumer Brands Australia Australia Geographies New Zealand Australia New Zealand United Kingdom Vehicle fleet leasing and management Salary packaging Diversified portfolio of consumer facing Primary service
Slide 8: Creates a leading Australian and New Zealand salary packaging and fleet management company
Creates a leading Australian and New Zealand salary packaging and fleet management company Novated lease landscape in Australia (units) 76,359 64,000 63,300 47,265 16,000 13,059 Combined Smartgroup SG Fleet LeasePlan Note: Eclipx: Management accounts as at 30 September 2018, Smartgroup: 1H18 results
Slide 9: Summary
Summary Strategy execution – Continued focus on off balance sheet funding to drive ROCE improvements – RFS business well-positioned in terms of further changes to consumer markets Initiatives continue to gain momentum – Plan Partners is expected to deliver its first month of profitability in Decembe