Slide 1: Full Year Results
For personal use only Full Year Results 23 August 2012 Barry Lambert - Chairman Michael Spurr - Managing Director & CEO
Slide 2: Full Year Result Highlights
Full Year Result Highlights For personal use only Financials Net Profit after Tax: $11.31 million (up 19%*) 2 3 Net Profit after Tax attributable to shareholders: $11.21 million Operating Result (EBITA): $19.22 million (up 7%) *Normalised for non-cash fair value adjustments CUP Dividends 12 cents de
Slide 3: The Countplus Network
The Countplus Network For personal use only 3
Slide 4: Group Performance – Member Firms
Group Performance – Member Firms 2012 2012 % Change For personal use only $ ‘000 % of Total Revenue made up of Revenue primarily of accounting services, Total Net Member Revenue 90,242 100% 11.28% financial planning services is 19% of Expenses: total net revenue. Salaries and Employment (51,698) (57
Slide 5: Group Performance – Member Firms
Group Performance – Member Firms 2012 2012 % 2012 2012 % For personal use only $ ‘000 % of Total Change $ ‘000 % of Total Revenue Change Head office Revenue contribution largely Net Income Member Firms 19,514 21.6% 6.9% neutral Net Income Member Firms 19,514 21.62% 21.6% 6.87% 6.9% Head Office Contr
Slide 6: Balance Sheet
Balance Sheet For personal use only 2012 % $ ‘000 Change Balance sheet in strong position Current Assets 30,244 (0.5%) with net debt low and current ratio Non-Current Assets 64,777 11.3% healthy Total Assets 95,021 7.3% Current Liabilities 22,429 (22.4%) Debt has increased due to new Non-Current Lia
Slide 7: Results – Key Takeouts
Results – Key Takeouts Acquisitions have contributed to revenue and expense For personal use only growth Organic growth in both Accounting and Financial planning New debtor provisioning policy (additional $0.9m expensed as additional provision) New long service leave provisioning calculation
Slide 8: Results – Key Takeouts (continued)
Results – Key Takeouts (continued) For personal use only Tax consolidation has had positive impact on tax expense for this year only Amortisation expense (non-cash) relates to acquired client relationships and adviser network (intangible asset) arising on acquisition Large positive non-cash fa
Slide 9: Dividends
Dividends Dividends Paid Cents Per Share Paid For personal use only First Post Listing Dividend 4 cents 01/07/2011 2011 Final Dividend 2 cents 15/08/2011 1st Interim Dividend 3 cents 15/11/2011 2nd Interim Dividend 3 cents 15/02/2012 3rd Interim Dividend 3 cents 15/05/2012 2012 Final Dividend 3 cent
Slide 10: Fully Franked Dividend Declared
Fully Franked Dividend Declared Dividend Declared Cents Per Ex-Dividend Record Payment For personal use only Share Date Date Date 2013 3 cents 22/10/2012 26/10/12 15/11/12 1st Interim Dividend HMATP (Regional NSW) 10
Slide 11: Benefits of Joining Countplus
Benefits of Joining Countplus For personal use only What are the benefits to accountants and other financial services businesses of being part of Countplus? Diversify assets and grow at a listed multiple Provide financial support for business growth Long-term succession Enhance services rang
Slide 12: Recent Acquisitions
Recent Acquisitions For personal use only Date Acquirer “Tuck-In” Jul 2011 Countplus MBT Parramatta (Sydney, NSW) based (Sydney, NSW) chartered accounting & financial planning practice Loughhead Roberts Feb 2012 Kidmans Victorian based property & accounting (Melbourne, VIC) group Pacific East Coast
Slide 13: Growth Acquisition Strategy
Growth Acquisition Strategy Organic growth is priority For personal use only Funding of acquisitions will predominately be funded from profits “Tuck-ins” by subsidiaries preferred Have begun marketing outside the Count group Evolution Advisers (NSW) 13
Slide 14: Expanded Acquisition Policy
Expanded Acquisition Policy Acquire minority stakes (30%+) in accounting/financial For personal use only services businesses: Retiring partner Fund acquisition of fees Means of getting to know non-Count affiliated firms Performance benchmarks for Countplus to increase interest 14
Slide 15: Future Growth
Future Growth For personal use only Group Efficiency - Member Firms learn from each other Acquisition and develop best practice - Carefully targeted - Cost synergies (limited) - Must be EPS accretive - Accounting franchise - May take form of “tuck-ins” by existing Members or minority stakes by group
Slide 16: Accountants: High ratings for Ethics and Honesty
Accountants: High ratings for Ethics and Honesty For personal use only Roy Morgan Research 2011 survey 16
Slide 17: Outlook
Outlook First guidance to be reported at Annual General Meeting For personal use only in November Preliminary estimates indicate good earnings per share growth for 2013 First minority interest acquisition expected shortly 17
Slide 18: Full Year Results
For personal use only Full Year Results 23 August 2012 Barry Lambert - Chairman Michael Spurr - Managing Director & CEO