Slide 1: Silver Chef milestones timeline
For personal use only Graphic sent through by marketing (Alana Organising) 2005 2011 2016 Silver Chef listed on Silver Chef New Zealand Silver Chef 30 Year ASX established Anniversary 1986 2008 2013 Silver Chef Established by Executive Launched GoGetta in Silver Chef Canada Chairman Allan English Au
Slide 2: Disclaimer
For personal use only Disclaimer Silver Chef Limited has not considered the financial position or needs of the recipient in providing this presentation. Persons needing advice should consult their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial or legal advi
Slide 3: Silver Chef Group – Outstanding six months of growth
Silver Chef Group – Outstanding six months of growth For personal use only Performance • Excellent growth in GoGetta asset base up 36% on 30 June 2015 - record acquisitions of $75 million in period highlights • Growth in hospitality asset base higher than expectations up 15% on 30 June 2015 • Canadi
Slide 4: Growth surpassed expectations in both brands
Growth surpassed expectations in both brands For personal use only COST VALUE OF RENTAL ASSETS AND WDV OF LEASE RECEIVABLES GROUP ASSET ACQUISITIONS* Cost Value of Silver Chef rental assets Cost Value of GoGetta rental assets SilverChef Rental GoGetta Silver Chef Advantage Silver Chef Lease Receivab
Slide 5: Strong current and future revenue from asset base
Strong current and future revenue from asset base For personal use only Revenue up 21% to $100.7 million (1H15: $83.0 million) 120 REVENUE BY SEGMENT Hospitality revenue up 13% to $60.6 million (1H15: $53.7 Silver Chef GoGetta Other revenue million) GoGetta revenue up 37% to $37.7 million (1H1
Slide 6: Growth requires deferral of upfront lease origination costs
Growth requires deferral of upfront lease origination costs For personal use only Silver Chef has historically experienced relatively constant growth in upfront origination costs due to acquisition rate and the structure of upfront origination costs AASB 117 requires upfront origination costs to
Slide 7: Impact of upfront cost deferral and revised earnings guidance
Impact of upfront cost deferral and revised earnings guidance For personal use only $ millions Deferral of upfront origination costs from 1 July 2015 (without retrospective adjustment) Reported NPAT after Reported NPAT if upfront costs deferred upfront costs not has a material impact on 1H16 resul
Slide 8: GoGetta Growth
GoGetta Growth For personal use only Record breaking acquisitions for the period ending 31 December 2015, far surpassing expectations Continued focus on transport sector – light commercial vehicles, trucks/trailers and small to medium sized construction equipment Significant upfront acquisitio
Slide 9: Hospitality Australia
Hospitality Australia For personal use only Outperformed growth expectations for the period to 31st December 2015 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 a
Slide 10: 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 Expan
Slide 11: Hospitality New Zealand
Hospitality New Zealand For personal use only Further investment in local sales and customer services representatives to improve value proposition and local Auckland customer support Business performed in line with expectations for the period to 31 December 2015 Outlook remains optimistic with
Slide 12: Capital Management
Capital Management For personal use only 54% of the period’s asset acquisitions funded from internally generated cash flows, down on prior periods due to accelerated growth in GoGetta $78.2 million of debt drawn in period to 31 December under new Syndicated Facility to fund rental asset acquisit
Slide 13: Credit and Residual Asset Risk
Credit and Residual Asset Risk For personal use only Highly diversified client base with largest client representing less than 1.0% of rental income Long term provisioning for doubtful debts and impairment normalising in range of 2.5% to 3.5% of revenue per annum No major credit default or ass
Slide 14: Earnings and Returns
Earnings and Returns For personal use only Historical Financial Performance 30.00% 35 32.8 25.00% 25.4% 30 23.0% 21.1% 27.9 21.8% 20.00% 19.9% 25 21.8 22.4 24.0 14.3% 19.3 21.0 20.0 15.00% 19.6 20 13.8% 12.0% 11.6% 13.0% 18.0 16.0 17.0 10.00% 16.0 15 14.5 14.0 14.5 14.0 5.00% 9.5 10 0.00% 5 1H12 2H1
Slide 15: Profit and Loss
For personal use only Profit and Loss Strong revenue growth a combination of enlarged $ millions 1H15 1H16 Change asset base and inertia from prior periods Revenue 83.0 100.7 21% Depreciation and loss on sale growth driven by growth Expenses from ordinary activities (27.4) (30.5) 11% in the depr
Slide 16: Financial Position
For personal use only Financial Position $ millions 30-Jun-15 31-Dec-15 Change Strong growth in long term lease portfolio Assets Significant growth in fixed asset base driven from Cash 1.6 7.5 369% record acquisitions Trade receivables and other 8.5 9.5 12% Substantial draw down against debt f
Slide 17: Cash Flow
For personal use only Cash Flow $ millions 1H15 1H16 Change Operating cash flow significantly impacted by upfront costs of acquisitions Net cash from operating activities 50.3 53.5 6% Substantial draw down against debt facilities during Payments for plant and equipment (94.0) (150.3) 60% the per
Slide 18: Excellent ongoing customer satisfaction levels
Excellent ongoing customer satisfaction levels For personal use only Silver Chef strives to maintain a reputation of exceptional service by using insights and customer-first thinking to deliver quick, easy, personalised experiences This focus means we can delight our customers and improve our va
Slide 19: We are a 'B Corp' Organisation
We are a ‘B Corp’ Organisation For personal use only B Corporations are an emerging group of companies that are using the power of business to create a positive impact on the world and generate a shared and durable prosperity for all There are more than 1,300 Certified B Corps from 41 countries
Slide 20: Outlook
Outlook For personal use only Expectation of continued strong growth in GoGetta book based on unique product offering and low market share in the transport and light commercial sectors Encouraging growth in domestic hospitality asset base - higher than industry growth average, expected to contin
Slide 21: About Silver Chef Limited
For personal use only About Silver Chef Limited 21
Slide 22: Company Overview
Company Overview For personal use only ASX Trading Information Key performance measures Share Price 22 Feb 16 $8.42 Lost time injury frequency rate nil 52-w Trading Range $6.43 - $10.14 Net promoter score 71 Issued Shares 31.3m Market Capitalisation $263.5m Silver Chef Customer Value Proposition Deb
Slide 23: Product and Key Features
Product and Key Features For personal use only RentTryBuy Initial Offering Advantage (RTB) Return Continue Customer Decision at 12 Months Purchase Renting Upgrade Equipment * Easy Own Continue Subsequent Decision Go.Own.Plus RTB Retention (LTR) Customer Decision in Further 12 Return Continue Purchas
Slide 24: Organisation Chart
For personal use only Organisation Chart Executive Chairman Allan English Head of People and Chief Operations Officer Chief Financial Officer Culture Damien Guivarra Doug McAlpine Mike Connell Executive General Executive General Executive General National Sales & Manager - Northern Manager - Souther
Slide 25: Silver Chef Leadership Team
For personal use only Silver Chef Leadership Team Allan English Executive Chairman The founder of Silver Chef Limited, Allan has had extensive experience in the hospitality and service and rental sectors. Allan was the Managing Director from 1986 to June 2010 after which he was appointed non-executi
Slide 26: Silver Chef Leadership Team (cont'd)
For personal use only Silver Chef Leadership Team (cont’d) Sylvia Po-Ching Executive General Manager, Southern Region The longest serving member of Silver Chef Group's leadership team, Sylvia has been with the business since 1999. Sylvia has previously taken the principal responsibilities for operat
Slide 27: Silver Chef Leadership Team (cont'd)
For personal use only Silver Chef Leadership Team (cont’d) Mike Connell Head of People and Culture Mike Connell joined the company in January 2016. Mike has over 25 years in Human Resources with a broad range industries and markets both within Australia and Asia. Recent experience includes senior ex