Slide 1: Silver Chef Limited Entitlement Offer Presentation
SILVER CHEF LIMITED For personal use only ENTITLEMENT OFFER PRESENTATION MARCH 2016 2005 2011 2016 Silver Chef listed Silver Chef New Zealand Silver Chef 30 Year on the ASX was established Anniversary 1986 2008 2013 Silver Chef Established by Launched GoGetta Silver Chef Canada was Executive Chairma
Slide 2: Disclaimer
Disclaimer For personal use only Silver Chef Limited (Silver Chef or Company) has not considered the financial position or needs of the recipient in providing this presentation (Presentation). Persons needing advice should consult their stockbroker, bank manager, solicitor, attorney, accountant or o
Slide 3: Overview
Overview • Silver Chef achieved record asset acquisitions of $149.6 million in the 1H FY2016 which exceeded expectations For personal use only • The Company is seeking to capitalise on ongoing expansion of the Silver Chef brand in Australia, New Zealand and Canada and unprecedented growth opportunit
Slide 4: Key terms of the Entitlement Offer
Key terms of the Entitlement Offer • Fully underwritten 1 for 9 accelerated pro-rata non-renounceable entitlement offer to raise gross proceeds of approximately $30 million For personal use only Offer size and • Approximately 3,515,016 new Silver Chef ordinary shares (New Shares) to be issued (appro
Slide 5: Entitlement Offer timetable
Entitlement Offer timetable Timetable * For personal use only Announcement of Entitlement Offer and trading halt Tuesday, 22 March 2016 Institutional Entitlement Offer opens Tuesday, 22 March 2016 Institutional Entitlement Offer closes Wednesday, 23 March 2016 Institutional Entitlement Offer shortfa
Slide 6: Performance summary – six months to December 2015
Performance summary – six months to 31 December 2015 Performance • Excellent growth in GoGetta asset base up 36% on 30 June 2015 - record acquisitions of $75 million in period For personal use only highlights • Growth in hospitality asset base higher than expected – up 15% on 30 June 2015 • Canadian
Slide 7: Summary of rental asset base at December 2015
Summary of rental asset base at 31 December 2015 For personal use only COST VALUE OF RENTAL ASSETS AND WRITTEN DOWN VALUE ( WDV) OF GROUP ASSET ACQUISITIONS* LEASE RECEIVABLES SilverChef Rental GoGetta Silver Chef Advantage Cost Value of Silver Chef rental assets Cost Value of GoGetta rental assets
Slide 8: Strong revenue from asset base
Strong revenue from asset base For personal use only 120 REVENUE BY SEGMENT Revenue in 1H FY16 up 21% to $100.7 million (1H FY15: Silver Chef GoGetta Other revenue $83.0 million) Hospitality revenue in 1HFY16 up 13% to $60.6 million (1H 100 2.3 FY15: $53.7 million) GoGetta revenue in 1HFY16 up
Slide 9: GoGetta
GoGetta Record-breaking acquisitions for the period ending 31 December 2015, far surpassing For personal use only previous expectations Continued focus on transport sector – light commercial vehicles, trucks/trailers and small to medium sized construction equipment Substantial momentum in rent
Slide 10: Hospitality Australia
Hospitality Australia Outperformed growth expectations for the period to 31 December 2015 For personal use only New growth opportunities identified within the franchise sector Silver Chef outlook in Australia remains strong as a consequence of sustained underlying growth in the hospitality and
Slide 11: Hospitality Canada
Hospitality Canada For personal use only Business now generating monthly net accounting profit Rental asset base of CAD $9.8 million in line with growth expectations Signed first major coffee deal assisting with the rollout of expresso coffee machines under a large ‘free on loan’ program Exp
Slide 12: Hospitality New Zealand
Hospitality New Zealand For personal use only Further investment in local sales and customer services representatives to improve value proposition Auckland Business performed in line with expectations for the period to 31 December 2015 Outlook remains optimistic with sustained underlying growt
Slide 13: Capital Management
Capital Management For personal use only 54% of asset acquisitions for the 6 months to 31 December 2015 funded from internally generated cash flows, down on prior periods due to accelerated growth in GoGetta Long term rental book now > $50 million, potentially suitable for traditional securitisa
Slide 14: Pro forma Balance Sheet/Sources & Uses
Pro forma Balance Sheet/Sources & Uses For personal use only Silver Chef Group Silver Chef Group Pro Consolidated at Pro forma adjustments forma consolidated at Sources of funds $ millions Acquisitions of Entitlement 1H FY2016 Entitlement Offer 30.0 All amounts $ millions 31-Dec-15 rental assets (1)
Slide 15: Risk Factors
Risk Factors Description Description Mitigation strategy For personal use only Competition The non-bank finance space is highly competitive, Rent Try Buy (RTB) and Rent Grow Own are unique products in the non bank finance market and there is no evidence that other financiers have the particular in
Slide 16: Selling Restrictions
Selling Restrictions For personal use only International offer restrictions This Presentation does not constitute an offer or invitation in any place in which, or to any person to whom, it would not be lawful to make that offer or invitation. In particular, this Presentation does not constitute an o