Count Limited · ASX:CUP
Count — Countplus — Shareholder Meeting (November 2015)
33 slides from Count's shareholder meeting presentation, Nov 25, 2015
Slide 1: Countplus Limited Annual General Meeting
For personal use only Countplus Limited Annual General Meeting 25 November 2015 Contact: Barry Lambert, Chairman barry.lambert@countplus.com.au or (02) 8488 4500 Phil Aris, Managing Director phil.aris@countplus.com.au or (02) 8488 4500
Slide 2: Chairman's Address
For personal use only Chairman’s Address Barry Lambert
Slide 3: Executive Directors
Executive Directors For personal use only Philip Rix Phillip Aris Executive Director & Managing Director & CEO Bentleys WA Principal 3
Slide 4: Non-Executive Director
Non-Executive Director For personal use only Graeme Fowler Independent Non-Executive Director Audit & Risk Committee Chair 4
Slide 5: Company Secretarial, Auditors & Lawyers
Company Secretarial For personal use only Auditors & Lawyers Grant Thornton Conor Farley Stephen Thomas Addisons Lawyers Jeff Mansfield Arlette Jubian Company Secretary Li Jean Chew 5
Slide 6: Financial Results 2015 v 2014
Financial Results 2015 v 2014 2015 2014 % Change %Normalised For personal use only $‘000 $‘000 Change* Total Net Revenue 88,913 95,820 (7.2%) 2.5% Net Income Firms 14,688 18,766 (21.7%) (1.2%) Operating Profit (EBITA) 15,581 19,112 (18.5%) 2.4% Profit before Tax 13,051 15,380 15.1% 4.6% Tax Expense
Slide 7: AGM Resolutions
For personal use only AGM Resolutions Barry Lambert
Slide 8: Resolution 1: Receive Annual Financial Report
Resolution 1: To receive and consider the annual financial report of the Company and its controlled entities and the reports of the Directors and of the auditors for the year ended 30 June 2015 These Statements & Reports are incorporated in the For personal use only Directors Report. It is not n
Slide 9: Resolution 2: Adopt Remuneration Report
Resolution 2: Adopt Remuneration Report This Report is incorporated in the Directors Report of For personal use only the Annual Report. The vote on this resolution is advisory only and does not bind the Directors of the Company. % of all Vote Type Voted % securities For 9,928,754 73.58 8.73 Agai
Slide 10: Resolution 3: Long Term Incentive for CEO
Resolution 3: Long Term Incentive (LTI) for the Chief Executive Officer and Managing Director For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rule 10.14 and sections 200B and 200E of the Corpora
Slide 11: Resolution 3: Voting Results
Resolution 3: Long Term Incentive (LTI) for the Chief Executive Officer and Managing Director For personal use only % of all Vote Type Voted % securities For 8,260,548 60.72 7.26 Against 3,745,857 27.54 3.29 Open-Usable 1,596,389 11.74 1.40 Open Cond 0 0.00 0.00 Open Unusable 0 N/A 0.00 Abstain 141,
Slide 12: Resolution 4: Re-election of Barry Lambert
Resolution 4: Re-election of Barry Lambert For personal use only This will be addressed by CEO Phil Aris Barry Lambert Chairman 12
Slide 13: Chief Executive Officer Address
For personal use only Chief Executive Officer Address Phillip Aris
Slide 14: Resolution 4: Re-election of Barry Lambert Voting
Resolution 4: Re-election of Barry Lambert To consider and, if thought fit, to pass the following resolution as an ordinary For personal use only resolution: “That Barry Lambert (who retires by rotation in accordance with the Constitution of the Company and, being eligible, offers himself for re-ele
Slide 15: Countplus Member Firms
Countplus Member Firms For personal use only 15
Slide 16: Group Performance – Member Firms Revenue
Group Performance – Member Firms For personal use only 2015 2015 % % $ ‘000 % of Change Normalised Total Change* Revenue Revenue: Cooper Reeves (Salisbury, QLD) Accounting 58,243 65.5% -7.2% -1.3% Accounting revenue 65.5% of net Financial Planning 20,087 22.6% -15.9% 7.5% member revenue Property Ser
Slide 17: Group Performance – Member Firms Expenses
Group Performance – Member Firms For personal use only 2015 2015 % Change % $ ‘000 % of Total Normalised Expenses Change* Expenses: Salaries & Employment -56,444 76.0% -3.0% 3.8% Premises -5,098 6.9% -11.0% -2.0% Acquisitions -271 0.4% 14.8% 14.8% Depreciation -1,175 1.6% 4.4% 12.4% Other Operating
Slide 18: Group Performance – Member Firms Profit
Group Performance – Member Firms 2015 % Change % For personal use only $ ‘000 Normalised Change* EBITA before Profit from Associates 14,688 -22.0% -1.2% Share of Profits from Associates 893 158.1% 158.1% Operating Profit (EBITA) 15,581 -18.5% 2.4% Other Income 228 286.4% 286.4% Share Based Payments
Slide 19: Balance Sheet
Balance Sheet For personal use only 2015 2014 % $ ‘000 $ ‘000 Change Current Assets 33,766 34,334 -1.7% Non-Current Assets 71,672 65,427 9.5% Bentleys WA (Perth, WA) Total Assets 105,438 99,761 5.7% Net debt has Current Liabilities 18,892 21,013 -10.1% increased due to acquisitions and Non-Current L
Slide 20: Recent Acquisitions / Investments
Recent Acquisitions / Investments Date Acquirer Acquisition / “Tuck-In” For personal use only Jul 2014 Total Financial Solutions Acquired a 40% interest in Wangaratta (VIC) based (Australia wide network) financial planning firm Financial Momentum. Sep 2014 Addvantage Accountants Acquired Canberra (A
Slide 21: Benefits of Joining Countplus
Benefits of Joining Countplus What are the benefits to accountants and other financial For personal use only services businesses in being a part of the Countplus network? Learning from Member Firms & gaining cross referrals; cash buyer &/or diversification; and growing business value at a listed m
Slide 22: Hood Sweeney
Hood Sweeney Hood Sweeney is a South Australian professional services firm with For personal use only more than 110 employees CUP’s first investment in Hood Sweeney made in October 2012 and currently have a 26% interest Hood Sweeney Earnings per Share $300 $250 $200 $150 $100 $50 $- 2013 2014 20
Slide 23: Total Financial Solutions
Total Financial Solutions TFS, a national financial planning dealer group For personal use only was fully acquired on 30 September 2010 TFS is expecting continued growth in EPS in 2016 as a result of recent and expected adviser signings TFS Earnings Per Share $120 $100 $80 $60 $40 $20 $0 2012 20
Slide 24: Cooper Reeves
Cooper Reeves Acquired on 1 November 2008 For personal use only Brisbane based professional services firm Cooper Reeves Earnings Per Share $140 $120 $100 $80 $60 $40 $20 $0 2012 2013 2014 2015 24
Slide 25: Pacific East Coast
Pacific East Coast Acquired on 11 February 2012 For personal use only Core business unit is property research and broking services on new residential property developments Has grown strongly since acquisition PEC Earnings Per Share $140 $120 $100 $80 $60 $40 $20 $0 2013 2014 2015 Performance m
Slide 26: Class Pty Ltd
Class Pty Ltd Technology business servicing the SMSF sector with almost 90,000 For personal use only billable SMSF’s on its administration platform First investment in Class made in October 2013 CUP is the largest institutional shareholder with a 4.8% interest Class is expected to list on th
Slide 27: Growth Acquisition Strategy
Growth Acquisition Strategy Organic growth has been disappointing but remains our priority and For personal use only best prospect of delivering strong EPS growth Funding of acquisitions will predominately be funded from profits & borrowings CUP acquisitions will be: • Low risk tuck-ins: 100%
Slide 28: ADVICE389
ADVICE389 ADVICE389 has a similar strategy to BLUE789, but will be acquiring For personal use only quality Financial Planning Businesses with the view of floating on the ASX before June 2020 The cornerstone of ADVICE389 is our existing AFS Licensee Total Financial Solutions First investment wa
Slide 29: Recent Acquisitions / Investments
Recent Acquisitions / Investments Date Acquirer Acquisition / “Tuck-In” For personal use only Aug 2015 ADVICE389 Acquired a 40% interest in Newcastle (NSW) based financial planning firm Hunter Financial. Aug 2015 Bentleys WA Acquired a 100% interest in specialist SMSF administrator – Australian Supe
Slide 30: Direct Equity Plan (DEP)
Direct Equity Plan (DEP) CUP offers Principals and key employees an opportunity to purchase For personal use only equity in underlying businesses Vendor Principals may effectively “buy-back” part interest up to 40% Also targeting future leaders and Principals CUP will maintain control CUP
Slide 31: Outlook
Outlook Continued challenging business environment For personal use only On a continuing business basis, ie excluding any abnormals, our full year 2016 profit before tax budgets are in line with FY2015 Selective acquisitions by CUP, BLUE789 & ADVICE389 31
Slide 32: Question Time
For personal use only Question Time
Slide 33: Countplus Limited Annual General Meeting
For personal use only Countplus Limited Annual General Meeting 25 November 2015 Contact: Barry Lambert, Chairman barry.lambert@countplus.com.au or (02) 8488 4500 Phil Aris, Managing Director phil.aris@countplus.com.au or (02) 8488 4500