Siv Capital Limited · ASX:SIV
Siv Capital — Silver Chef — Morgans Queensland Conference 2016
18 slides from Siv Capital's conference presentation, Oct 13, 2016
Slide 1: Morgans Queensland Conference 2016
VIRGNS OUEIGLND =| hherege™ CONFERENCE 201 a.
Slide 2: Disclaimer
1986 2005 2008 2011 2013 2016 For personal use only Silver Chef established Silver Chef Launched Silver Chef Silver Chef Silver Chef by Executive Chairman listed GoGetta in New Zealand Canada 30 Year Allan English on ASX Australia established established Anniversary DISCLAIMER Silver Chef Limited ha
Slide 3: FY16 Excellent Year of Growth: Performance Highlights
SILVER CHEF GROUP FY16 EXCELLENT YEAR OF GROWTH For personal use only PERFORMANCE HIGHLIGHTS Total contract originations up 67% to $303.0 million Rental assets and lease receivables up 50% to $539.2 million * Profit (after tax) up 44% to $22.4 million; $23.4 million after adjusting for one- off loan
Slide 4: Growth in Originations and Asset Base
GROWTH IN ORIGINATIONS AND ASSET BASE SURPASSED EXPECTATIONS IN BOTH BRANDS For personal use only COST VALUE OF RENTAL ASSETS GROUP ORIGINATIONS (RENTAL ASSET AND WDV OF LEASE RECEIVABLES* ACQUISTIONS AND ADVANTAGE)* 600.0 350 Cost Value of Silver Chef rental assets Cost Value of GoGetta rental asse
Slide 5: Key Messages: Value Drivers
KEY MESSAGES For personal use only VALUE DRIVERS Canada presents an enormous long term growth opportunity Domestic hospitality will continue to be a strong earnings driver We continue to improve our underwriting approach in GoGetta Good progress with unlocking new sources of capital We have a values
Slide 6: Hospitality Canada
HOSPITALITY CANADA For personal use only KEY DIVISIONAL STATISTICS Rental asset numbers 4,679 CALGARY Rental asset costs AUD $14.5m VANCOUVER Rental asset WDV AUD $11.9m TORONTO Finance lease receivable AUD $1.4m • Canadian asset base has reached AUD $16 million - double from Customer numbers 904 pr
Slide 7: Hospitality Australia and New Zealand
HOSPITALITY AUSTRALIA AND NEW For personal use only ZEALAND KEY DIVISIONAL STATISTICS Australia New Zealand Rental asset numbers 62,599 5,359 Rental assets at cost $219.2m $18.1m Rental asset WDV $136.8m $12.0m • 31% growth in domestic rental asset originations Finance lease $43.9m $0.9M • 14% growt
Slide 8: GoGetta Growth
GOGETTA GROWTH For personal use only KEY DIVISIONAL STATISTICS – GOGETTA GOGETTA RENTAL ASSET BASE BY SECTOR Rental asset numbers 18,040 2% 2% Rental assets at cost $222.1m 11% 11% 3% Agricultural Rental asset WDV $171.9m 3% Construction Fitness Finance lease receivables $19.1m Hospitality Light Com
Slide 9: Credit and Residual Asset Risk
CREDIT AND RESIDUAL ASSET RISK For personal use only • 59.2% increase in total assets (rentals and BAD DEBTS AND IMPAIRMENT LOSS lease receivables) with only 0.2% rise in bad debts over revenue 4.0% 3.5% • Bad debt still trending within desired 3.3% 3.4% 3.5% range of 2.5% - 3.5% of revenue for the
Slide 10: Capital Management
CAPITAL MANAGEMENT For personal use only EQUITY DEBT FUNDING STRATEGY • Gross gearing no more than 70% • New five bank senior syndicated debt • Evaluating wholesale funding alternatives facility improved maturity to the group’s including securitisation structures in • Reinvestment of cash operating
Slide 11: We Are a B Corp Organisation
WE ARE A “B CORP” ORGANISATION For personal use only We believe successful, sustainable commercial enterprises require alignment of their B Corporations are an emerging group of companies that are using the power of business activities around a values driven framework and a desire to make a wider co
Slide 12: Excellent Ongoing Customer Satisfaction Levels
EXCELLENT ONGOING CUSTOMER SATISFACTION LEVELS For personal use only • Silver Chef strives to maintain a reputation of exceptional service by using insights and customer-first thinking to deliver +68 quick, easy, personalised experiences • This focus means we can delight our customers and improve ou
Slide 13: Strategy and Outlook
STRATEGY AND OUTLOOK For personal use only Leadership succession Continued strong underlying outlook for domestic hospitality Sustainable growth with improved credit, in GoGetta, particularly within the transport and light commercial channels Build momentum in Canada and aggressively grow the asset
Slide 14: Strategy and Outlook / Questions
STRATEGY AND OUTLOOK For personal use only Leadership succession Continued strong underlying outlook for domestic hospitality Sustainable growth in GoGetta, particularly within the transport and light QUESTIONS commercial channels Build momentum in Canada and aggressively grow the asset base Continu
Slide 15: About Silver Chef Limited
ABOUT SILVER CHEF LIMITED For personal use only
Slide 16: Company Overview
COMPANY OVERVIEW For personal use only ASX Trading Information Key performance measures Share Price 24th August 2016 $ 10.35 Dividend 42.0 cents 52-w Trading Range $7.67 – $11.73 EPS 68.9 cents Issued Shares 35,152 Market Capitalisation $363.8m Debt 30th June 2016 $ 250.1m Cash/Term Deposits 30th Ju
Slide 17: Product and Key Features
PRODUCT AND KEY FEATURES For personal use only RentTryBuy Initial Offering (RTB) Customer Decision at 12 Months Purchase Continue Renting Upgrade Return Equipment* Easy Own Subsequent Decision Go.Own.Plus Continue RTB Retention (LTR) Customer Decision in Further 12 Months Purchase Return Equipment*
Slide 18: Company Directory
COMPANY DIRECTORY For personal use only Company Secretary Don Mackenzie Share Register Boardroom Pty Limited GPO Box 3993 Sydney NSW 2001 Phone: 1300 737 760 Fax: 1300 653 459 Website: www.boardroomlimited.com.au Securities Exchange The Company is listed on the Australian Securities Exchange (SIV.AX