Shine Justice Ltd. · ASX:SHJ
Shine Justice — H1 FY2017 Earnings Presentation
16 slides from Shine Justice's earnings presentation, Feb 28, 2017
Slide 1: FY17 Half Year Results Presentation
FY17 Half Year Results Presentation Simon Morrison Ravin Raj MANAGING DIRECTOR ACTING CFO 28 February 2017
Slide 2: Agenda and Disclaimer
Agenda FY17 H1 Results Overview Disclaimer Simon Morrison This presentation may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Shine Corporate Ltd and certain plans and objectives of the management of Shine Corporate Ltd. Str
Slide 3: FY17 H1 Results Overview
FY17 H1 Results Overview Simon Morrison MANAGING DIRECTOR FY17 H1 Results Presentation | ABN 93 162 817 905 3
Slide 4: Results Overview: Shine Lawyers and Other Subsidiaries
FY17 H1 Results Overview Shine Lawyers • Personal Injury (motor vehicle, workplace, public liability): • Lean, standard, major claims • Super and disability • Abuse law • Emerging Practice Areas: • Class actions • Professional and medical negligence • Insolvency • Transport • Industrial relations Ot
Slide 5: Results Overview: Financial Highlights
FY17 H1 Results Overview: Financial Highlights FY17 H1 FY16 H1 Variance Variance % Revenue1 incl. WIP 74.0 64.0 10.0 15.5% movement ($m) 10.8% fees billed NPAT2 ($m) 3.9 1.3 2.6 194.3% EBITDA3 ($m) 10.2 2.1 8.1 385.7% Gross Operating Cash Flow4 5.2 3.6 1.6 44.4% ($m) (GOCF) 44.4% EPS5 (cents) 2.26 0
Slide 6: Results Overview: Operational highlights
FY17 H1 Results Overview: Operational highlights • Solid billings growth in Shine Lawyers, Bradley Bayly and Best Wilson Buckley Family Law • New emerging practice areas gaining market traction • Marketing campaign stimulated organic growth • Competitive landscape continued to add pressure in H1 FY1
Slide 7: Strategic Priorities & Update
Strategic Priorities & Update Simon Morrison MANAGING DIRECTOR FY17 H1 Results Presentation | ABN 93 162 817 905 7
Slide 8: Strategic Priorities
Strategic Priorities Future and Innovation Growth Operations Clients • Leverage the benefits of a • “Inch Wide, Mile Deep” • Nimble management structure • Core values stronger online presence • Renewed focus internally on core • Right Wrong • Organic opportunities combined with our physical values a
Slide 9: Update
Update Strengthen Shine Protect Shine • Strong underlying results • Refined governance and risk • Fees billed management systems • File velocity • Refined management to • Founders back in the business accelerate growth and • Building stronger teams simplify overhead structure Preserving our Core Val
Slide 10: FY17 H1 Financial Results
FY17 H1 Financial Results Ravin Raj ACTING CHIEF FINANCIAL OFFICER FY17 H1 Results Presentation | ABN 93 162 817 905 10
Slide 11: Financial Results: Detailed Profit and Loss
FY17 H1 Financial Results: Detailed Profit and Loss • Revenue in FY17 H1 grew by $10.0m (15.5%) Variance 1H17 ($m) 1H16 ($m) Variance % compared to FY16 H1, which was impacted by the ($m) $14.4m revenue provisioning adjustment. Net revenue declined in NSW but this was offset by strong growth in QLD,
Slide 12: Financial Results: Balance Sheet
FY17 H1 Financial Results: Balance Sheet AS AT ($m) 31 Dec 16 30 Jun 16 Cash 11.9 12.1 • Cash on hand at 31 Dec 2016 was $11.9m Receivables 12.7 17.1 • Net WIP grew by 4.7% ($9.5m) to $212.5m, primarily from organic growth within Shine Work in progress 212.5 203.0 Lawyers and the acquisition of Clai
Slide 13: Financial Results: Gross Operating Cash Flow
FY17 H1 Financial Results: Gross Operating Cash Flow GOCF for each half year period ($m) 20 18.8 • GOCF increased from $3.6m in FY16 18 H1 to $5.2m in FY17 H1, driven by: 16 • Receipt of DePuy class action fees 14 13.0 • Aged debtors collection 12 10.5 15.2 10 • This was offset by an increase in 8 9
Slide 14: Outlook
FY17 Outlook Simon Morrison MANAGING DIRECTOR FY17 H1 Results Presentation | ABN 93 162 817 905 14
Slide 15: Outlook for the Remainder of FY17
Outlook for the Remainder of FY17 Operations & Financial Opportunities & Growth Market • Improved organic growth and • Strong pipeline of work in • Legal market continues to be economies of scale across the Emerging Practice Areas (in challenging including Personal Group particular class actions) In
Slide 16: Questions
Questions FY17 H1 Results Presentation | ABN 93 162 817 905 16