Mcmillan Shakespeare Limited · ASX:MMS
Mcmillan Shakespeare — Merrill Lynch Emerging Stars Conference 2012
16 slides from Mcmillan Shakespeare's conference presentation, Oct 18, 2012
Slide 1: Merrill Lynch Emerging Stars Conference 2012
Merrill Lynch Emerging Stars Conference 2012 For personal use only 18 -19 October 2012 Strictly Private and Confidential
Slide 2: Consolidated financial performance
PagePage 2 2 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Consolidated financial performance FY12 FY11 $000 $000 Total Total Revenue from operating activities 300,626 270,538 Expenses 222,950 205,971 Pre tax profit from operating activities 77,67
Slide 3: Financial highlights
PagePage 3 3 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Financial highlights A year of consistent delivery, ongoing organic profitable growth and gathering momentum. Consolidated NPAT of $54.3m (growth of 25%). Diluted EPS growth of 21%. Group
Slide 4: Financial highlights (cont'd)
PagePage 4 4 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Financial highlights (cont’d) Strong free cashflow ($56.3m pre-fleet increase). Final dividend of 25cps (total FY12 dividend of 47cps versus 38cps FY11). FY12 payout ratio of 61%. Return o
Slide 5: Normalised NPAT
PagePage 5 5 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Normalised(1) NPAT 54.3 55 50 NPAT 7-year CAGR of 40% 45 43.5 40 35 ($m) 30 27.9 25 20.5 20 17.4 15 13.2 11.3 10 5.2 5 0 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 Note 1: Normalised NPAT exc
Slide 6: Historical earnings and dividends per share
PagePage 6 6 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Historical earnings and dividends per share Normalised (1) earnings per share (EPS) Total dividends per share 90.0 50.0 80.0 45.0 70.0 40.0 Basic EPS 7-year CAGR of 38.2% 60.0 35.0 50.0 ce
Slide 7: Definition of segments
PagePage 7 7 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Definition of segments Group Remuneration Services segment definition: The segment provides administrative services in respect of salary packaging and facilitates the settlement of motor v
Slide 8: Group Remuneration Services financial performance
PagePage 8 8 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Group Remuneration Services financial performance FY12 FY11 % $000 $000 Inc Comment Segment revenue 137,284 111,648 23% (ex float interest 24%) Expenses Employee expenses 54,250 43,908 24%
Slide 9: Competitive strengths and performance indices
PagePage 9 9 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Competitive strengths and performance indices Queensland floods. Increased head count to maintain client service levels during the end of FBT year process.
Slide 10: Asset Management segment financial performance
PagePage 10 10 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Asset Management segment financial performance FY12 FY11 % $000 $000 Inc Comment Segment revenue 163,342 158,890 3% Expenses Depreciation of motor vehicle fleet 66,942 63,681 5% Interest
Slide 11: Asset Management segment commentary
PagePage 11 11 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Asset Management segment commentary Business growth gathering momentum (assets under finance $262m versus $220 FY11; $214m FY10). Strong NPAT performance of 6% growth (normalised for FY1
Slide 12: Asset Management segment commentary (cont'd)
PagePage 12 12 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Asset Management segment commentary (cont’d) Increase in yield from in-life services, through leveraging combined scale of Asset Management and Group Remuneration Services (novated lease
Slide 13: FY12 Key points
PagePage 13 13 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only FY12 Key points Business combination (Group Remuneration Services and Asset Management) strategy working well: increasing new business in private sector; better cost of funds; better yie
Slide 14: FY12 Key points (cont'd)
PagePage 14 14 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only FY12 Key points (cont’d) Salary packaging system upgrade to commence FY13. New premises and staff in S.A. to support S.A. Government opportunity. Increase of 124 staff (head count c.800)
Slide 15: Sensitivities
PagePage 15 15 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Sensitivities Interest rates (earnings on float). Second hand car prices (remarketing earnings). New car sales (novated lease participation). Government austerity/redundancy programs. De
Slide 16: Outlook and update
PagePage 16 16 MMS Group 2012 AGM Presentation Merrill Lynch Emerging Stars Conference 2012 For personal use only Outlook and update Ongoing profitable growth through new contracts won over the past 12-18 months and ongoing participation growth. Group financial performance for 1QFY13 in line with ou
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