Slide 1: Half Year Results Presentation
Count Limited Half Year Results Presentation For personal use only 20 February 2024 1
Slide 2: Important information
Important information This presentation is provided for information purposes only. The information in this Certain statements in this presentation may constitute forward-looking statements or presentation is in a summary form, does not purport to be complete and is not intended to statements about f
Slide 3: Our bold ambition is supported by a strategic plan with five growth pillars
Our bold ambition Our ambition To be the leading provider of integrated is supported by accounting and wealth services, helping clients through our dynamic perspective that identifies a strategic plan with For personal use only insights from their past, maximises their present five growth pillars an
Slide 4: About Count Limited
About Count Limited Our network is strong and growing 365 $17.9B 594 For personal use only Financial Funds under Accountants 19 2 Advisers3 advice in equity firms 12 1 11 2 182 ~81,500 $292M 48 9 Aggregated 65 7 Firms Clients served² revenue¹ AFSL member firms Equity partner firms – Accounting & Wea
Slide 5: HY24 Business Update
For personal use only HY24 Update Business 5
Slide 6: Strong underlying result
Strong underlying result Building on solid operational performance and acquisitions Underlying EBITA1 Solid operational performance +9% For personal use only Accounting segment continues to improve $5,436 profitability Underlying PBT1 Continuing to deliver growth through $3,346 +4% acquisitions Stro
Slide 7: Strong growth focus across the business
Strong growth focus across the business Count continues to grow across the segments Accounting Wealth Services For personal use only • 18th Largest Accounting firm1 • Integration of Affinia progressing • Accurium continues to grow as a • Solid operational performance as planned with transition to le
Slide 8: Industry Developments
Industry Developments Count is well positioned to benefit from industry developments Industry Developments Count’s Response • More profitable advisers particularly calling out • Increase in market share of advisers through organic For personal use only efficient systems, admin support, and more nota
Slide 9: Strong Pipeline of Opportunities
Strong Pipeline of Opportunities Significant addressable market for Count to grow • Count continues to build a strong pipeline of Number of completed and expected acquisitions² (Categorised based on 100% acquired revenues) opportunities 1 For personal use only • Strong history of acquisitions with o
Slide 10: Significant scale with Diverger
Significant scale with Diverger Count progressing towards financial close in March • The combined Count and Diverger businesses provide material increase in scale in Wealth and Services segments Scheme Trading • Initial integration work underway with joint integration Release implementation commence
Slide 11: Diverger Integration Plan
Diverger Integration Plan Count is tracking on target to integration plan Pre-Completion Simplify and Scale Optimise Day 1 to 12 months 12+ months For personal use only ✓ Joint integration collaboration • New Count operating model • Operational systems • Corporate function rationalisation consolidat
Slide 12: Count brand continues to grow
Count brand continues to grow Count brand to be a key differentiator For personal use only 12
Slide 13: Financial Update
For personal use only Update Financial 13
Slide 14: Financial Overview
Financial Overview Earnings improvement due to solid operational performance from Accounting segment Revenue Underlying Contribution Margin¹ +6% +56% For personal use only $47,925 Consistent with 56% in 1HY2023 EBITA Underlying EBITA1 $4,664 +59% $5,436 +9% Statutory NPAT Underlying Accounting EBITA
Slide 15: Key Performance Summary
Key Performance Summary Underlying Group performance ahead of prior period 1HY2024 1HY2023 Movement Key HY24 Highlights $’000 $’000 $’000 % Revenue 47,925 44,535 3,390 +8% • Continued top line growth across the business driven by Direct Costs (20,906) (19,777) (1,128) +6% organic and acquisitive gro
Slide 16: EBITA bridge 1HY2024 vs 1HY2023
EBITA bridge 1HY2024 vs 1HY2023 Organic growth in the Accounting segment underpins the growth in Underlying EBITA For personal use only Note: Refer to Appendix 7 for definitions behind Underlying EBITA. 16
Slide 17: Segment performance
Segment performance Underlying Revenue and EBITA inline or ahead of prior period across all segments Accounting 1HY2024 1HY2023 Movement • Significant improvement in EBITA margin to 21% $’000 $’000 $’000 % • Focus on profitability Accounting 34,429 33,302 1,128 +3% • Organic and acquisitive growth F
Slide 18: Wealth segment
Wealth segment Gross business earnings increased +54% over 1HY2023 Number of Advice Documents Count Advisers v Industry 13,200 13,031 400 379 365 13,000 20,000 350 12,800 12,591 12,571 300 278 279 18,000 12,600 12,494 248 250 Industry For personal use only 12,400 Count 16,000 12,200 200 12,015 12,00
Slide 19: Capital Management
Capital Management New debt facility in place to support the Group’s continued growth 1HY2024 1HY2023 Key Highlights Total Cash $18.1m $21.0m • Initiatives to optimise available cash Available Cash $12.8m $3.6m • New banking facilities approved for the Diverger acquisition Cash & undrawn debt facili
Slide 20: 1HY2024 Interim Dividend
1HY2024 Interim Dividend Count maintains half year dividend • 1HY2024 interim dividend of 1.50 cents per share, fully franked (1HY2023 interim dividend of 1.50 cents per share). • Target dividend pay-out ratio of 60% to 90% of maintainable Key dates for net profit after tax attributable to Count sha
Slide 21: Looking Ahead for FY24
Looking Ahead for For personal use only FY24 21
Slide 22: Summary and Key Priorities for FY24
Summary and Key Priorities for FY24 Integration of Diverger into the Count brand and delivery of cost synergies Focus on driving growth organically and through accretive acquisitions For personal use only Driving higher returns from increased scale and diversification in Wealth Expand Services offer
Slide 23: Q&A
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Slide 24: Thank You
For personal use only Thank You 24
Slide 25: Appendix
For personal use only Appendix 25
Slide 26: Count wholly-owned subsidiaries, partially owned subsidiaries and associates
Appendix 1 Count wholly-owned subsidiaries, partially owned subsidiaries and associates Accounting Firms Shareholding Accounting Firms Shareholding No. No. Wholly-owned subsidiaries % Associates % 1. CountPlus One Pty Ltd 100.00 11. Southern Cross Business Holdings Pty Ltd 49.00 2. Bentleys (WA) Pty
Slide 27: Historical underlying performance
Appendix 2 Historical underlying performance 1HY2024 FY2023 2HY2023 1HY2023 FY2022 2HY2022 1HY2022 FY2021 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Accounting - Revenue 34,429 66,643 33,341 33,302 64,513 31,458 33,055 64,883 Wealth - Revenue 10,405 18,073 9,631 8,442 15,409 8,196 7,213 13,858
Slide 28: Reconciliation of underlying EBITA to reported NPATA
Appendix 3 Reconciliation of underlying EBITA to reported NPATA Total Accounting Wealth Services Corporate Office 1HY2024 1HY2023 Movement 1HY2024 1HY2023 1HY2024 1HY2023 1HY2024 1HY2023 1HY2024 1HY2023 $’000 $’000 % $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Underlying EBITA 5,436 4,965 +9% 7,
Slide 29: Compelling strategic fit with Diverger
Appendix 4 Compelling strategic fit with Diverger Accounting Wealth Services For personal use only Note: Diverger business units are sourced from the Diverger Acquisition – Investor presentation, announced on 22 September 2023 and Explanatory Booklet, lodged with ASIC on 14 December 2024 29
Slide 30: Aggregated Group performance
Appendix 5 Aggregated Group performance Total Accounting Wealth Services Corporate Office 1HY2024 1HY2023 Movement 1HY2024 1HY2023 1HY2024 1HY2023 1HY2024 1HY2023 1HY2024 1HY2023 % $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Gross revenue 154,525 120,947 +28% 71,081 62,375 80,354 55,
Slide 31: Case Study: Affinia Acquisition
Appendix 6 Case Study: Affinia Acquisition Count continues to pursue acquisition opportunities that provide scale in accounting and wealth Price paid • The Affinia acquisition enabled Count to scale up Wealth segment with the addition of around 100 $3.37m Cash For personal use only quality financial
Slide 32: Adjustments made to calculate underlying numbers
Appendix 7 Adjustments made to calculate underlying numbers Underlying revenue: • Remove of revenue generated from businesses disposed of subsequent to reporting periods and other non- recurring revenue. Underlying other income: • Other income from businesses disposed off subsequent to reporting per
Slide 33: For personal use only
For personal use only 33