Shine Justice Ltd. · ASX:SHJ
Shine Justice — Shareholder Meeting (October 2024)
16 slides from Shine Justice's shareholder meeting presentation, Oct 22, 2024
Slide 1: ASX Announcement: Chairman's Address and MD & CEO's Presentation
22 October 2024 ASX Announcement Shine Justice Ltd (SHJ) Chairman’s Address and Managing Director & CEO’s Presentation In accordance with ASX Listing Rule 3.13.3, Shine Justice Ltd provides the following which will be presented at its Annual General Meeting commencing at 12pm (noon) (Brisbane time)
Slide 2: Chairman's Address: Year in Review
CHAIRMAN’S ADDRESS SHINE JUSTICE LTD ANNUAL GENERAL MEETING 22 OCTOBER 2024 Year in review After a disappointing financial result in FY23, we undertook a series of initiatives to reshape our business during FY24. We made the decision to divest non-core work types in order to focus on our personal in
Slide 3: Chairman's Address: Class Actions, Dividend and Share Buy-Back
Class action settlements totalling $168.7 million were approved by the court during the financial year, including actions against the Commonwealth Department of Defence for contamination from the use of firefighting foam in a range of sites across Australia, including Wreck Bay in NSW, and an action
Slide 4: FY25 Outlook and Conclusion
FY25 Outlook FY24 saw the implementation of a company-wide cost reduction program which included reduction of overhead costs and rightsizing legal teams. The positive benefits of these changes will flow through to improvements in GOCF and EBITDA in FY25. Our business as a leading personal injuries a
Slide 5: Annual General Meeting October 2024
2024 Annual General Meeting 22 October 2024
Slide 6: FY24 Overview
FY24 Overview Simon Morrison MANAGING DIRECTOR & CEO
Slide 7: Purpose Driven, Resilient and Determined to Seek Justice
3 PURPOSE DRIVEN, RESILIENT AND DETERMINED TO SEEK JUSTICE FOR OUR CLIENTS Class Actions & NPA¹ Personal Injury Shine Lawyers Motor vehicle, workplace, • Class actions public liability, abuse Adjacent Legal Services • Shine Lawyers (Eastern seaboard) • Sciaccas (QLD) • Superannuation and disability
Slide 8: FY24 Key Highlights
FY24 Key Highlights 4 Revenue EBITDA¹ Adjusted EBITDA² $198.6m $33.8m $45.0m Key Achievements -12% +17% -27% Strategic • FY24 was a reset year • Divested non-core businesses GOCF¹ NPAT Adjusted NPAT² • Simplified focus of business to two main segments in Class Actions and Personal Injury $51.8m $6.0
Slide 9: FY23 Flagged Initiatives to Reset Cost Base for Growth and Efficiency
5 FY23 Flagged Initiatives to Reset Cost Base for Growth and Efficiency Simplify business structure and operations. Focus on driving meaningful revenue growth and improved earnings over time. Initiatives to underpin future Identified areas to remove corporate costs EBITDA growth within business unit
Slide 10: FY24 Achievements: Delivered FY23 Initiatives
6 FY24 Achievements: Delivered FY23 Initiatives Investment in our people and culture remains our competitive advantage Cost Reduction Non-Core Businesses Cost reduction program in FY24 will deliver Business restructure including discontinuation inbuilt future cash savings of $14.7m and or winddown o
Slide 11: Personal Injury Market Overview
7 Personal Injury Market Overview¹ Industry Products & Services Market Share Segmentation 9.40% 8.40% 28.00% 35.50% 7.40% 74.80% 36.50% Shine Justice Motor Vehicle Accidents Allegro Funds (Slater & Gordon) Workplace Inuries Maurice Blackburn Other Other Personal Injury Claims ¹IBIS Report 2023
Slide 12: Personal Injury – FY25 Growth Strategy
8 Personal Injury – FY25 Growth Strategy Marketing effort and expenditure restructured to assist with stronger file growth compared to FY24. Detailed branch-by-branch v evaluation to determine the marketing efforts and costs needed to attract new files. v Significant reorganisation of the call centr
Slide 13: Class Actions Overview
9 Class Actions Overview #2 Shine Justice’s Class It is the 2nd largest Class Actions worktype Relationships established Action business began in Class Actions practice continues to be one of the with US law firms which QLD and is now located operating in Australia. fastest growth will accelerate gr
Slide 14: Class Actions Portfolio
10 Class Actions Portfolio Current Class Actions Broad book of cases reflects strong pipeline of future 6 revenue and diversified portfolio. 4 No single concentrated risk. 5 6 Pipeline growing and is continually replenished. Strong medium term growth prospects in conjunction with 2 1 1 US strategy.
Slide 15: Class Actions Strategy
11 Class Actions Strategy Australian Strategy USA Strategy The business has sufficient capital and access to A strategic intention for Shine in FY25 and beyond is to Litigation funders to undertake actions: accelerate growth in class actions and international mass torts. • Class Actions continue to
Slide 16: FY25 Outlook
12 FY25 Outlook Shine is a strong defensive business: Clearer focus on two operating segments – Continued focus on expense management. PI & Class Actions. Organic growth opportunities in both Cash generation continuing priority. operating segments. US litigation funding to increase availability Shor