Slide 1: Shine Corporate Ltd 2014 Annual Results
For personal use only SHINE CORPORATE LTD 2014 ANNUAL RESULTS August 2014 Simon Morrison, MD Craig Thompson, CFO
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and For personal use only business of Shine Corporate Limited and certain plans and objectives of the management of Shine Corporate Limited. Such forward-looking st
Slide 3: Agenda
AGENDA For personal use only • Introduction • FY14 Achievements • FY14 Results • Key Operational Drivers • Business Improvement Initiatives • Acquisition Update • FY15 Priorities and Guidance 3
Slide 4: Introduction – Who We Are
INTRODUCTION – WHO WE ARE For personal use only • Group holding company, 3 law firms and other interests • Ongoing growth – organic and acquisitions • Diversification into emerging practice litigation • Continued clear vision and systems to grow LAW FIRMS • Values driven business – “Right Wrong.” •
Slide 5: Introduction (Cont'd)
INTRODUCTION (CONT’D) For personal use only • Personal injury law firm operating in Western Australia since 1983 • Acquired 1 July 2014 • Law firm specialising in land owner compensation • Offices in Townsville, Roma and Brisbane • Acquired 1 July 2014 OTHER INTERESTS • RWWNZ - NZ joint venture spec
Slide 6: Introduction - Key Practice Areas
INTRODUCTION - KEY PRACTICE AREAS For personal use only Personal Workers’ compensation Motor vehicle accidents Injury Medical negligence Litigation Public liability Product liability Professional negligence Environmental Emerging Disability insurance & superannuation Practice Class actions First par
Slide 7: FY14 - Achievements
FY14 - ACHIEVEMENTS For personal use only • Exceeded IPO EBITDA forecast in the first full year as an ASX listed company • Revenue growth of 10% over prior corresponding period • EBITDA growth of 24% over prior corresponding period • EBITDA margin at 29.6% up from 26.6% for prior corresponding perio
Slide 8: FY14 - Results
FY14 - RESULTS For personal use only %change to FY14 IPO Measure FY14 FY13 pcp Forecast Revenue $115.5m $105.2m h10% $114.8m EBITDA $34.2m $27.6m h24% $33.0m EBITDA Margin 29.6% 26.6% h 28.7% NPAT $22.2m $17.5m h27% $21.3m GOCF * $10.5m $8.1m h30% $12.3m NOCF # $11.3m $5.0m h126% $10.7m Full year FY
Slide 9: Key Historical Financial Results
KEY HISTORICAL FINANCIAL RESULTS For personal use only Revenue ($m) FY10 - FY14 EBITDA ($m) FY10 - FY14 140.0 40 115.5 34.2 120.0 35 105.2 30 27.6 100.0 85.5 25 23.6 80.0 71.2 20.0 21.0 59.0 20 60.0 15 40.0 10 20.0 5 0.0 0 FY10 FY11 FY12 FY13 FY14 FY10 FY11 FY12 FY13 FY14 The figures for FY10, FY11
Slide 10: FY14 - Key Operational Drivers
FY14 - KEY OPERATIONAL DRIVERS For personal use only • Organic revenue growth: ̶ Continued fee earner growth ̶ Strong focus on productivity • Overhead control program: ̶ Focus on overhead optimisation ̶ Support staff reduction ̶ Overall 5% increase in expenses, compared to revenue growth of 10% 10
Slide 11: Business Improvement Initiatives
BUSINESS IMPROVEMENT INITIATIVES For personal use only • T2 business improvement project progressing • Continuous improvement to existing Shine Case Management (SCM) ̶ Firm wide review and refinement of key processes ̶ Updating of process documentation ̶ Re-training in key processes (WIP Management,
Slide 12: Acquisition Update
ACQUISITION UPDATE For personal use only • Emanate Legal and Stephen Browne Personal Injury Lawyers ̶ Acquisitions announced in June 2014 ̶ Completed in July 2014 ̶ Capital raising of $29.5m via a 1 for 10 entitlement offer completed in July 2014 ̶ Contributing to earnings and cash flow from 1 July
Slide 13: FY15 Priorities & Guidance
FY15 PRIORITIES & GUIDANCE For personal use only • Continuing to review and improve key legal processes supporting WIP management • Continuing to improve the return on Shine Lawyers brand spend • Improving the alignment of staff goals to Company performance through the introduction of the short term
Slide 14: Questions?
For personal use only Questions? More Information: www.shine.com.au Thank you 14