Siv Capital Limited · ASX:SIV
Siv Capital — Silver Chef — Shareholder Meeting (October 2014)
23 slides from Siv Capital's shareholder meeting presentation, Oct 16, 2014
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 16 October 2014 – 10.30 am Level 11, 66 Eagle Street, Brisbane
Slide 2: Disclaimer
Disclaimer Silver Chef Limited has not considered the financial position or needs of the recipient in providing this presentation. Persons needing advice should consult For personal use only their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial or legal advi
Slide 3: Agenda
Agenda For personal use only Executive Chairman’s Address – Allan English Formal Business 3
Slide 4: Executive Chairman's Address
For personal use only Executive Chairman’s Address Allan English 4
Slide 5: Our Business
Our Business For personal use only 1986 2005 2008 2011 2013 Established by Listed on ASX GoGetta brand New Zealand Canadian Executive Chairman launched business business Alan English established established Customer Value Proposition o Low weekly rental repayments o Frees up working capital o The ab
Slide 6: Results Snapshot
Results Snapshot 5-year For personal use only FY14 Change (FY13-FY14) CAGR (FY09-FY14) Total revenue + 24% + 32% Rental assets (at cost) and lease + 16% + 29% receivables NPAT + 11% + 29% Basic EPS + 5% + 14% Dividend + 5% + 17% Operating cash flow + 19% + 34% Rental asset acquisitions +39% 6
Slide 7: Group - Acquisitions and Assets
Group - Acquisitions and Assets New rental asset acquisitions Total rental assets (at cost) and lease For personal use only (Group) 300 receivables 140 250 120 50.9 100 48.6 200 80 $ millions $ millions 37.0 150 299.0 60 257.4 24.1 100 13.6 86.8 185.4 40 76.7 8.0 141.3 56.0 50 109.4 20 36.8 42.6 84.
Slide 8: Hospitality - Acquisitions and Assets
Hospitality - Acquisitions and Assets New rental asset acquisitions Hospitality - Total rental assets (at cost) and For personal use only 100 (Hospitality) lease receivables 220 90 5.4 200 80 180 - 70 160 60 140 - $ millions 120 $ millions 50 - 100 197.4 86.8 40 - 76.7 80 173.5 - 30 130.6 56.0 60 10
Slide 9: Hospitality – FY14 Highlights
Hospitality – FY14 Highlights For personal use only o Hospitality division contributed $29.7 million in pre-tax profit, an increase of 17% (FY13: $25.4 million) o Approximately 68% of revenues generated from Hospitality business. o The Wacol Reconditioning and Disposal Facility (“RAD”) improved effi
Slide 10: GoGetta - Acquisitions and Assets
GoGetta - Acquisitions and Assets GoGetta - Total rental assets (at cost) New rental asset acquisitions For personal use only 100 and lease receivables 60 (GoGetta) 6.1 90 - 50 80 70 40 60 - $ millions 50 30 90.1 50.9 40 83.9 48.6 20 - 37.0 30 54.8 24.1 20 - 10 32.6 13.6 10 19.1 8.0 - 7.9 0 - FY09 F
Slide 11: GoGetta – FY14 Highlights
GoGetta – FY14 Highlights o GoGetta contributed $9.3 million in pre-tax profit, down For personal use only from the previous year (FY13: $10.9). o GoGetta experienced slower growth in FY14 relative to previous years. o Greater impairment charge as contracts mature and assets are returned following r
Slide 12: Segment Analysis
Segment Analysis For personal use only Revenue by segment Rental assets at cost and lease receivables by segment GoGetta GoGetta 32% 32% (FY13: 33%) (FY13: 33%) Hospitality - Hospitality - Hospitality - Hospitality - Canada Australia Canada Australia 0.1% 66% 0.4% 65% (FY13: 0%) (FY13: 65%) (FY13: 6
Slide 13: Financial Position
Financial Position For personal use only $ millions 30 June 2013 30 June 2014 Change Assets Total current assets 6.8 10.9 + 60% Rental assets at WDV 173.5 188.1 + 8% Other non-current assets 9.7 19.4 + 13% Total assets 190.0 218.4 + 15% Liabilities Current interest bearing debt 1.0 0.4 - 60% Custome
Slide 14: Funding
Funding o During the year, the Company increased its debt facility limit with the CBA from $110 million to $120 million, bringing total debt facilities including unsecured corporate notes to $150 million. For personal use only o In FY14 the Company acquired $137.7 million worth of rental assets (at
Slide 15: Delivering shareholder value
Delivering shareholder value 50 50% For personal use only 44.2 45 40% 41.4 40 24.3% 24.1% 37.4 30% 23.3% 22.2% 20.6% 35 23.6% 20% 14.5% 14.6% 14.2% 12.5% 29.7 30 10% Cents per share 26.6 30.0 28.5 25 22.5 0% 24.0 20 -10% -19.2% 20.0 15 18.0 -20% 14.0 10 -30% -39.8% 5 -40% 0 -50% FY09 FY10 FY11 FY12
Slide 16: Strategy
Strategy For personal use only Group Funding Focus on ensuring o Continued focus on delivering ten year Argenti that the company has access to strategic plan – currently in year five. sufficient funding, in an appropriate debt / o Continuing to invest in IT systems to improve equity mix to achieve G
Slide 17: People and Culture
People and Culture For personal use only o Every Silver Chef employee has a bonus linked to the satisfaction of our customers. o Over the past five years there has been incremental growth in our customer satisfaction and this equates directly to repeat business for the Company and recognition for st
Slide 18: Outlook
Outlook 60 Retail Turnover – 2004-2014 For personal use only o The cafe and hospitality industry has Cafes, restaurants and takeaway food services* % change from previous month (cumulative) consistently expanded in the past few 50 years. o We expect the consumers’ love of a cup 40 of coffee and dini
Slide 19: Formal Business
19 For personal use only Formal Business
Slide 20: Adoption of Remuneration Report – proxy votes
Resolution by proxy Resolution 1 For personal use only Total number votes Adoption of Remuneration Report cast - For 4,140,524 - Against 158,050 - Abstain 61,811 - Open 260.810 Excluded votes 9,844,233 20
Slide 21: Re-election of Sophie Mitchell – proxy votes
Resolution by proxy Resolution 2 For personal use only Total number votes Re-election of Sophie Mitchell as cast a Director - For 13,892,373 - Against 289,654 - Abstain 20,514 - Open 262,887 21
Slide 22: Re-election of Bede King – proxy votes
Resolution by proxy Resolution 3 For personal use only Total number votes cast Re-election of Bede King as a Director - For 13,898,917 - Against 292,565 - Abstain 11,059 - Open 262,887 22
Slide 23: Increase in Non-executive Directors' Remuneration – proxy votes
Resolution by proxy Resolution 4 For personal use only Total number votes Increase in Remuneration for non- cast executive Directors - For 3,982,866 - Against 342,143 - Abstain 38,299 - Open 257,887 Excluded votes 9,844,233 23