Slide 1: FY20 Full Year Results – Performance in Adversity
FY20 FULL YEAR RESULTS Mike Gurry - Chair Keith Smith - CEO – PERFORMANCE IN ADVERSITY JOYCE CORPORATION LTD – FY20 Full Year Shareholder & Broker Presentation 1
Slide 2: FY20 Results
FY20 Results Joyce Corporation FY20 FY19 Variance Variance $000’s $000’s $000’s % Revenue (from continuing operations) 87,594 84,205 3,389 +4.0% Network sales (including franchisee partner sales) 186,582 169,460 17,122 +10.1% EBIT (from continuing operations and prior to impairments) 11,997 9,969 2,
Slide 3: Underlying Growth
KWB – Toowoomba opened 1/9/18 Underlying Growth Sales growth despite severe economic shocks • KWB sales grew by $2.5m or 3.9% despite closing the network for 4 weeks, reflecting the strong positioning of KWB’s brand and quality service; • In contrast to the general retail sector, Bedshed has achieve
Slide 4: Cash Generation
Joyce Cash Generation Joyce responded to the uncertainty created by COVID by focusing on cash preservation resulting in a +52% increase in KWB – West Gosford opened 10/11/18 liquidity over the year. Lloyds – Brock Auction 06/10/18 Cash in the business Since the year end cash reserves have increased
Slide 5: Dividend
Joyce Dividend • In February 2020 a ‘fully franked’ 5.0c interim dividend was approved, with the payment deferred due to COVID-19 to Lloyds – Brock Auction 06/10/18 September 2020; • In August 2020 a ‘fully franked’ 2.7c final dividend was approved. • If there is sufficient capacity when the half ye
Slide 6: Business Unit Review
Business Unit Review KWB Group FY20 FY19 KWB now operate out of 21 showrooms Variance $000’s $000’s % and has demonstrated a significant level Continuing revenue 67,498 64,964 +3.9% of flexibility and ability to pivot when faced with adverse economic conditions. Through the COVID pandemic the organi
Slide 7: KWB Highlights
KWB Highlights - Delivering customer service & expansion plans • The KWB business continues to refine its interaction with customers and is now interacting 7 days a week; • Internal efficiencies have been enhanced in the year with the deployment of a new ERP system (NetSuite) and process monitoring
Slide 8: Bedshed Highlights
Bedshed Highlights - Excellent execution of the operational plan • Deployment of franchisee ‘onboarding’ resource and creation of a significant pipeline; • Product placement in ‘I’m a celebrity get me out of here’; • Bedshed remained ‘open’ during the initial pandemic impact giving it an ongoing adv
Slide 9: Market and Team Update
Joyce Market and Team Update The Board are focused on increasing the profit and market valuation. FY20 has made significant progress towards this by: • Rationalisation of the portfolio; Bedshed Management Team • Maximising funds within the entity to take advantage of market opportunities; • Enhancin
Slide 10: Overview
Joyce Overview Joyce Corporation has commenced the execution of its expansion plans for FY21, increasing its geographic footprint which will enhance the Group’s brand and partner engagement. KWB – West Gosford opened 10/11/18 With the recently created cash reserves the Group is well funded to take a
Slide 11: Disclaimer
DISCLAIMER Information contained in this presentation may involve forward looking statements, including possible future performance estimates, estimated earnings, potential growth of the company or its industry or other projections. Whilst “JYC” believes these are reasonable at the time of printing,