Slide 1: Lloyds Online Acquisition
For personal use only Lloyds Online Acquisition Joyce Corp Broker Presentation July 2016 Executive Director Anthony Mankarios All data is unaudited Joyce Corp acquisition of 51% in Lloyds Online
Slide 2: Transaction Overview
Transaction Overview For personal use only • Joyce Corporation Ltd (ASX:JYC) purchased 51% equity in Lloyds Online Auctions Pty Ltd. • Consideration: Initial payment of $6 million, equating to a 4x normalised maintainable adjusted EBITDA FY2016 valuation. • Funded by a cash payment, with no dilution
Slide 3: Impact on Joyce: FY2017
Impact on Joyce: FY2017 For personal use only • Lloyds EBITDA expected to be >$3 Million in FY2017 (100%). • On a fully franked basis Lloyds is expected to add 3.85 cents net earnings per share to JYC in FY2017 (5.54 cents per share on EBITDA basis). • An expected uplift potential to JYC shareholder
Slide 4: Lloyds Historical Information
Lloyds Historical Information For personal use only • Lloyds online constantly • 2016 Est Revenue $10.5 Million, up +10% up on delivers the best valuation to 2015. auction results for its clients. • 2016 Est normalised EBITDA $2.85 Million up Whilst providing consumers +44% on 2015. with a opportuni
Slide 5: Rationale behind acquisition
Rationale behind acquisition For personal use only • Acquisition in-line with JYC declared strategy of adding shareholder value and aiming to improve dividend payouts year-on-year. • Acquisition strategically aligned to acquire IP in the online sector of the consumer products sector. • JYC has alway
Slide 6: Trading update for JYC - 30th June 2016
Trading update for JYC - 30th June 2016. For personal use only • Bedshed network written ( L4L) sales up +5%. • KWB Kitchens YOY Sales up +28%. • Lloyds 2016 YOY annualised Revenue up +10%. • Construction on new corporate premises in Osborne Park (WA) commenced and is expected to finish in December
Slide 7: Outlook
Outlook For personal use only • Bedshed aims to lift store numbers in 2017 with new Franchise stores offerings across QLD and NSW. • KWB-Retail Kitchens plans to lift store growth with a minimum 2 new stores already signed up late in 2017. • Lloyds Auctions- plans future expansion into metropolitan
Slide 8: Disclaimer
Disclaimer For personal use only • Information contained in this presentation may involve forward looking statements. Possible future performance estimates, estimated earnings, potential growth of the company or its industry or other projections. Whilst “JYC” believes these are reasonable at the tim