Mayfield Childcare Ltd. · ASX:MFD
Mayfield Childcare — ASX Small and Mid-Cap Conference 2019
18 slides from Mayfield Childcare's conference presentation, Sep 5, 2019
Slide 1: Mayfield Childcare Limited
Mayfield Childcare Limited ASX Small and Mid-Cap Conference 2019 5 September 2019
Slide 2: Disclaimer
DISCLAIMER This Presentation contains summary information about the current activities of Mayfield Childcare Limited (Mayfield). It should be read in conjunction with Mayfield’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), which are ava
Slide 3: Contents
Contents 01 Mayfield Journey 02 Financial Performance 03 Operational Metrics 04 Industry 05 2019 Outlook 3
Slide 4: Mayfield Childcare Beginnings
01 Mayfield Childcare Beginnings Mayfield Childcare Limited was listed on the Australian Securities Exchange (ASX:MFD) on 30 November 2016 › Offer Price of $1.00 per share › Market capitalisation of $30m › Forecast CY 2017 Revenues of $29m delivering NPAT of $3.4m › Forecast dividend yield of 7.65%
Slide 5: Guiding Principles and Strategic Focus
01 Guiding Principles and Strategic Focus › Provide Victorian families with high quality developmental and educational child care services › Foster a nurturing family setting that supports a child’s physical, social and emotional development Guiding › Provide families with support services to assist
Slide 6: Mayfield Childcare Today
01 Mayfield Childcare Today › Stable, structured and resilient › Delivered on our initial IPO commitments and year on year growth › Established a well structured business platform with scale capability › Proven resilience as the business managed its way through unprecedented government funding chang
Slide 7: 1H CY 2019 Performance Highlights
01 1H CY 2019 Performance Highlights Performance to date reflects overall business strength, buoyed by CY18 acquisitions and pricing, continued centre investment, along with focused operational cost control Revenue $15.86m, up from $13.96m Occupancy 65.0%, up from 64.7% + 14% › Driven by flow throug
Slide 8: Financial Performance
02 Financial Performance 8
Slide 9: Operating Performance
02 Operating Performance $000’s CY19 1H AASB 16 CY19 1H CY18 1H Var % Statutory Leases Underlying Underlying Revenue 15,861 15,861 13,957 13.6 › Revenues up 13.6% driven by flow through of CY 2018 acquisitions and Labour costs 9,501 9501 8,473 (12.1) price increases Operating expenses 921 921 860 (7
Slide 10: Balance Sheet
02 Balance Sheet $000’s 30 Jun 19 AASB 16 30 Jun 19 31 Dec 18 Var $ Statutory Leases Underlying Underlying Cash & cash equivalents 73 73 880 (807) › Lower cash position from partial funding of acquisitions, and tighter Trade & other receivables 1,326 1,326 1,256 70 cash management strategies to offs
Slide 11: Cash flows
02 Cash flows $000’s CY19 1H AASB 16 CY19 1H CY18 1H Statutory Leases Underlying Underlying Operating cash flows › Positive net operating cash flows in line with business performance Childcare receipts 15,756 15,756 13,922 Operating expenses (11,566) (1,873) (13,439) (11,926) Net interest paid (332)
Slide 12: Operational Metrics
03 Operational Metrics 12
Slide 13: Occupancy, Revenue, Wage and Quality Performance
03 Occupancy, Revenue, Wage and Quality Performance Weekly Occupancy % Weekly Revenue A$000’s 70.0% $700 $650 Percentage % 65.0% $600 A$ 000's 60.0% $550 55.0% $500 50.0% $450 Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk Wk 1 3 5 7 9 11 13 15 17 19 21 23 25 $400 Wk 1Wk 3Wk 5Wk 7Wk 9 Wk Wk Wk Wk Wk Wk Wk Wk C
Slide 14: Industry
04 Industry 14
Slide 15: Industry Challenges
04 Industry Challenges › Government Funding Pre July 1, 2018 – Child Care Rebate (CCR) Post July 1, 2018 – Child Care Subsidy (CCS) › No change to government funding model since 2012 › Federal government implements new Child Care Subsidy (CCS) system › Rising cost of childcare – wages, regulatory &
Slide 16: 2019 Outlook
05 2019 Outlook 16
Slide 17: 2019 Outlook
05 2019 Outlook › Positive Market Outlook › A more stable market environment, influenced by cyclical improvements in the sector › Positive impacts from the new CCS are set to continue as families find further relief through changes to rebate levels › Supply and demand are forecast to be more in bala
Slide 18: Thankyou
Thankyou Mayfield Childcare Limited Level 1, 275 Wattletree Road MALVERN VIC 3144 www.mayfieldchildcare.com.au Dean Clarke Glenn Raines Andrew Angus Chief Executive Officer Chief Financial Officer Investor Relations dclarke@mayfieldchildcare.com.au graines@mayfieldchildcare.com.au andrewangus@overla
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