Slide 1: Countplus Limited Annual General Meeting
For personal use only Countplus Limited Annual General Meeting 26 November 2014 Contact: Barry Lambert, Chairman barry.lambert@countplus.com.au or 0408 427 701 Michael Spurr, Managing Director michael.spurr@countplus.com.au or 0425 224 960
Slide 2: Chairman's Address
For personal use only Chairman’s Address Barry Lambert
Slide 3: AGM Agenda
AGM Agenda For personal use only Introductions Financial Summary Profit Guidance Dividend Policy AGM Resolutions CEO Address Q&A 3
Slide 4: Executive Directors
Executive Directors For personal use only Philip Rix Michael Spurr Executive Director & Managing Director & CEO Bentleys WA Principal Subject to re-election 4
Slide 5: Non-Executive Directors
Non-Executive Directors For personal use only Graeme Fowler Don Sharp Independent Non-Executive Director Independent Non-Executive Director Board Audit Committee Chair Acquisitions Committee Chair Subject to re-election 5
Slide 6: Company Secretarial, Auditors & Lawyers
Company Secretarial Auditors & Lawyers For personal use only Ernst & Young Greg Logue Stephane Sega Grant Thornton Conor Farley Stephen Thomas Arlette Jubian Addisons Lawyers Company Secretary Jeff Mansfield Belle Jing 6
Slide 7: Financial Results 2014 v 2013
Financial Results 2014 v 2013 2014 2013 % Change For personal use only $‘000 $‘000 Total Net Revenue 95,830 94,802 1.1% Net Income Firms 18,776 18,749 0.1% Operating Profit (EBITA) 19,122 19,235 (0.6%) Profit before Tax 15,380 14,971 2.7% Consolidated Net Profit after Tax 11,313 11,083 2.1% Profit b
Slide 8: Profit Guidance
Profit Guidance 1st profit guidance For personal use only Actual result 8 months’ time may vary from the current trend In previous years our guidance has not been accurate, so this year I will not give formal EPS guidance. Despite loss of the now discontinued CBA loyalty payment of some $3.6
Slide 9: Dividend Policy
Dividend Policy For personal use only Countplus Prospectus - dividend pay-out ratio 50-70% At lack of EPS growth, prudent to reduce the Dividend from 3c to 2c per quarter. This reduction means we have another freed up $4m to make acquisitions to help increase our profits and in due course, inc
Slide 10: AGM Resolutions
For personal use only AGM Resolutions Barry Lambert
Slide 11: Resolution 1: Annual Financial Report
Resolution 1: To receive and consider the annual financial report of the Company and its controlled entities and the reports of the Directors and of the auditors for the year ended 30 June 2014 These Statements & Reports are incorporated in the For personal use only Directors Report. The vote on
Slide 12: Resolution 2: Adopt Remuneration Report
Resolution 2: Adopt Remuneration Report This Report is incorporated in the Directors Report of For personal use only the Annual Report The vote on this resolution is advisory only and does not bind the Directors of the Company. % of all Vote Type Voted % securities For 12,180,124 89.63 10.94 Aga
Slide 13: Resolution 3: Re-election of Graeme Fowler
Resolution 3: Re-election of Mr Graeme Hilton George Fowler For personal use only % of all Vote Type Voted % securities For 50,454,017 90.77 45.32 Against 4,391,660 7.90 3.94 Open-Usable 739,176 1.33 0.66 Open Cond 0 0.00 0.00 Open 0 N/A 0.00 Unusable Abstain 84,360 N/A 0.08 Graeme Fowler Excluded 0
Slide 14: Resolution 4: Re-election of Philip Rix
Resolution 4: Re-election of Mr Philip Stephen Rix For personal use only % of all Vote Type Voted % securities For 50,559,130 90.92 45.42 Against 4,312,547 7.75 3.87 Open-Usable 743,176 1.33 0.67 Open Cond 0 0.00 0.00 Open 0 N/A 0.00 Unusable Abstain 54,360 N/A 0.05 Philip Rix Excluded 0 N/A 0.00 Ex
Slide 15: Resolution 5: Appointment of Grant Thornton as Auditor
Resolution 5: Appointment of Grant Thornton as the new Company Auditor with the Board authorised to fix the remuneration of the Company Auditor To consider and, if thought fit, to pass the following resolution as an ordinary For personal use only resolution: % of all Vote Type Voted % securities For
Slide 16: Chairman's Address
For personal use only Chairman’s Address Barry Lambert
Slide 17: Chief Executive Officer Address
For personal use only Chief Executive Officer Address Michael Spurr
Slide 18: The Countplus Network
The Countplus Network For personal use only 18
Slide 19: Full Year Result Highlights
Full Year Result Highlights For personal use only Financials Operating Result (EBITA): $19.12 million (down 0.6%) 2 3 Net Profit before Tax: $15.38 million (up 2.7%) Net Profit after Tax: $11.31 million (up 2.1%) Net Profit after Tax attributable to shareholders: $11.13 million 19
Slide 20: The Countplus Network
The Countplus Network For personal use only 20
Slide 21: Group Performance – Member Firms
Group Performance – Member Firms 2014 2012 2014 2012 % % Change Change Excluding sale of For personal use only $ ‘000 $ ‘000 % % of ofTotal business, accounting Revenue Total revenues up by 5% Revenue Total Net Member Revenue 90,242 100% 11.28% Financial planning Income: normalised income Expenses:
Slide 22: Group Performance – Member Firms
Group Performance – Member Firms 2014 2012 2014 2012 % % Change Change Other Operating For personal use only $ ‘000 $ ‘000 % % of ofTotal expenses impacted Revenue Total by increased Revenue provisioning under conservative policy Total Net Member Revenue 90,242 100% 11.28% Expenses: Expenses: Share
Slide 23: Group Performance – Member Firms
Group Performance – Member Firms 2014 % Change 2012 2012 2012 2012 201220122012 %% % Change % Change Interest expense For personal use only $ ‘000 $‘000 ‘000$ ‘000 %%ofof$ ‘000 % Change Change of primarily relates to Total Total Total debt facility with Other Items: Reven RevenuRevenue CBA Non-Oper
Slide 24: Balance Sheet
Balance Sheet For personal use only 2014 % $ ‘000 Change Current Assets 34,334 (2.4%) Non-Current Assets 65,427 (1.5%) Total Assets 99,761 (1.8%) Current Liabilities 21,013 (5.0%) Net debt has increased due to Non-Current Liabilities 27,584 0.3% new acquisitions Total Liabilities 48,597 (2.1%) and d
Slide 25: Recent Acquisitions / Investments
Recent Acquisitions / Investments Date Acquirer Acquisition / “Tuck-In” For personal use only Jul 2013 360 Financial Advantage Acquired a Port Macquarie, NSW accounting firm for $1.0 Pty Ltd (Coffs Harbour, million. NSW) Jul 2013 360 Financial Advantage A small Port Macquarie, NSW accounting sole pr
Slide 26: Class Super investment update
Initial investment in Class made in October 2013, whilst small, is For personal use only performing strongly. Class is expected to list on the ASX in 2015/16. The number of billable funds passed 60,000 in August. 26
Slide 27: Recent Acquisitions / Investments
Recent Acquisitions / Investments Date Acquirer Acquisition / “Tuck-In” For personal use only April 2014 Countplus Limited Acquired an additional equity interest in Adelaide based accounting practice, Hood Sweeney. May 2014 Total Financial Solutions Book of financial planning fees from Sydney based
Slide 28: Growth Acquisition Strategy
Growth Acquisition Strategy Organic growth is our priority – steady demand from Vendors For personal use only Funding of acquisitions will predominately be funded from profits & borrowings Acquisitions & investments will continue at 4 levels: 1. Change GPS Partner 2. “Tuck-in” full acquisition
Slide 29: Pacific East Coast Pty Limited
Pacific East Coast Pty Limited Acquired on 11 February 2012 For personal use only Core business unit is property research and broking services on new residential property developments Has grown strongly since acquisition PEC Earnings per Share 14.00 12.00 10.00 8.00 6.00 4.00 2.00 - FY12 FY13
Slide 30: Rewards and Incentives
Rewards and Incentives CUP to offer principals and key employees opportunity to purchase For personal use only equity in underlying businesses Vendor principals may effectively “buy back” part interest Also targeting future leaders/principals CUP will maintain control Unique offering MBA P
Slide 31: Technology
For personal use only Technology 31
Slide 32: Future Opportunities
Future Opportunities For personal use only 32
Slide 33: Question Time
For personal use only Question Time
Slide 34: Countplus Limited Annual General Meeting
For personal use only Countplus Limited Annual General Meeting 26 November 2014 Contact: Barry Lambert, Chairman barry.lambert@countplus.com.au or 0408 427 701 Michael Spurr, Managing Director michael.spurr@countplus.com.au or 0425 224 960