Accordant Group Limited · NZX:AGL

Accordant — AWF Madison Group — Shareholder Meeting (July 2018)

20 slides from Accordant's shareholder meeting presentation, Jul 25, 2018

  1. Slide 1: Annual Shareholders' Meeting

    ANNUAL SHAREHOLDERS’ MEETING FOR THE FINANCIAL YEAR ENDED 31 MARCH 2018 25 JULY 2018

  2. Slide 2: Chairman's Address

    Agenda Item 1 Chairman’s Address ROSS KEENAN CHAIRMAN

  3. Slide 3: Agenda Item 2: Consolidated financial statements

    Agenda Item 2 Consolidated financial statements for the Year Ended 31 March 2018.

  4. Slide 4: Agenda Item 3: Final dividend of 8.2 cents

    Agenda Item 3 Fully imputed final dividend of 8.2 cents.

  5. Slide 5: CEO's Report and Update

    Agenda Item 4 CEO’s Report and Update SIMON BENNETT CEO

  6. Slide 6: AWF Madison Group structure

    A AWF MADISON I Group function IB Madison I Absolute IT BE oawe AWF Madison Group Limited Board of Directors David Lazarus Company Secretary Simon Bennett Chief Executive Officer Kris Huurnink Tony Staub Steve Jackson IT Manager Commercial Director General Manager - Commercial ereen Low Group Market

  7. Slide 7: FY18 – The Economic and Political Landscape

    FY18 – The Economic and Political Landscape • Mixed market conditions • Timing of the election and subsequent change in government • Evaluation of the legislative framework » Holidays Act » Employment Relations (Triangular Employment) Amendment Bill

  8. Slide 8: FY18 Financials

    FY18 Financials 300.0 16.0 250.0 14.0 $000’s FY 2014 FY 2015 FY 2016 FY 2017 FY2018 12.0 NZ$ Million NZ$ Million 200.0 10.0 Total Revenue 148,647 196,434 214,589 256,428 279,303 150.0 8.0 100.0 6.0 Employee benefit 4.0 -129,373 -172,112 -190,333 -229,150 -253,182 50.0 2.0 expense* 0.0 0.0 EBITDA** 8

  9. Slide 9: Cash Flow

    Cash Flow $’000 EBITDA 11,549 Interest paid (1,297) Interest received 32 10,284 Trade and other receivables 3,703 Trade, other payables, provisions 967 Income taxes paid (3,445) Net cash from operating activities 11,509 Fixed Asset Net (Additions) / Disposals (484) Share Capital 227 Dividends paid (

  10. Slide 10: Funding and Debt / Dividend Reinvestment

    Funding and Debt/ Dividend Reinvestment 2015 2016 2017 2017 2018 Absolute IT Absolute IT 5 months 12 months Group EBITDA* 12,617 11,710 13,454 15,664 11,549 Finance Cost 2,109 1,333 1,193 1,659 1,297 Interest Cover 6.0 8.8 11.3 9.4 8.9 Net Bank Debt 18,608 21,870 32,383 32,328 29,731 Leverage Ratio

  11. Slide 11: Our Areas of Focus

    Our Areas of Focus • Technology and process improvement • Finding synergies within the Group • Leveraging our scale, reach and resources • Building alternative solutions to the traditional recruitment model e.g. Managed Service offering

  12. Slide 12: Resolution 5.1: Re-appointment of Nick Simcock

    Agenda Item 5 Resolutions: • Director elections  5.1 Recommended re-appointment of Nick Simcock Of the shares voted by proxy – 94.85% support resolution 5.1

  13. Slide 13: Resolution 5.2: Re-appointment of Julia Hoare

    Agenda Item 5 Resolutions: • Director elections  5.2 Recommended re-appointment of Julia Hoare Of the shares voted by proxy – 94.85% support resolution 5.2

  14. Slide 14: Resolution 5.3: Re-appointment of Ross Keenan

    Agenda Item 5 Resolutions: • Director elections  5.3 Recommended re-appointment of Ross Keenan Of the shares voted by proxy – 94.85% support resolution 5.3

  15. Slide 15: Agenda Item 6: Auditors' Reappointment and Remuneration

    Agenda Item 6 Auditors’ Reappointment and Remuneration.

  16. Slide 16: Resolution 6.1: Auditors' Fees

    Agenda Item 6 Resolutions: • Auditors’ Fees  6.1 Authorise the Directors to fix the fees for the Auditors for the year. Of the shares voted by proxy – 94.85% support resolution 6.1

  17. Slide 17: Agenda Item 7: 2018 Restricted Shares

    Agenda Item 7 2018 Restricted Shares.

  18. Slide 18: Agenda Item 8: General Business

    Agenda Item 8 General Business.

  19. Slide 19: Close of meeting

    DA AWF MADISON Close of meeting.

  20. Slide 20: Reconciliation: EBITDA to Tax Paid Profit for the year

    Appendix to Presentation: Reconciliation: EBITDA to Tax Paid Profit for the year FY2017 FY2018 $’000 $’000 EBITDA 13,454 11,549 Investment Revenue 2 32 Fair Value gain on settlement of Absolute IT earn-out 170 payment Depreciation and Amortisation expense (3,003) (3,344) Impairment (443) Finance cos

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