Servcorp Limited · ASX:SRV
Servcorp — Shareholder Meeting (November 2011)
14 slides from Servcorp's shareholder meeting presentation, Nov 16, 2011
Slide 1: ASX cover letter: 2011 Annual General Meeting
Servcorp Limited ABN 97 089 222 506 Level 12 MLC Centre 19-29 Martin Place Sydney NSW 2000 Australia T | +61 29231 7616 F | +61 29231 7665 W | servcorp.com.au 16 November 2011 The Manager Company Announcements Office Australian Securities Exchange By Electronic Lodgement Dear Sir Servcorp Limited (S
Slide 2: Servcorp Limited Annual General Meeting
For personal use only Servcorp Limited Annual General Meeting Presented by Alf Moufarrige, CEO & Thomas Wallace, CFO Wednesday 16 November 2011 1
Slide 3: Operational Highlights - FY 2011
Operational Highlights - FY 2011 For personal use only Revenue up 8% to $182.06M Mature floor NPBT up 24% to $31.19M Immature floor loss of $27.98M NPBT of $3.04M up 6% on FY 2010 Strong unencumbered cash balances of $91.27M at 30 June 2011 Solid net operating cash flow of $18.79M Stro
Slide 4: Operational Highlights - Total Floors by Region
Operational Highlights - FY 2011 Total Floors by Region 30 June 2011 For personal use only 30 25 25 22 21 20 Number of Floors 16 15 11 10 9 9 5 3 0 Australia & Japan South East Middle East India Greater China Europe USA New Zealand Asia (Franchise) Total Floors = 116 1 2
Slide 5: Financial Results - FY 2011
Financial Results – FY 2011 For personal use only Constant FY 2011 FY 2010 % Currency % $AUD $AUD 000’s 000’s 182,056 168,837 8% 13% Total Revenue 31,191 25,126 24% Mature Floor Net Profit Before Tax (27,983) (20,102) 39% Total Immature Floor Loss (172) (2,149) Office Squared Gain / (Loss) 3,036 2,8
Slide 6: Financial Results - Balance Sheet and Per Share
Financial Results – FY 2011 For personal use only As at As at % 30 June 2011 30 June 2010 $AUD $AUD 000’s 000’s Cash Balance (unencumbered) 91,269 121,030 (25%) Net Assets 192,612 212,610 (9%) Net Tangible Assets (per share) $1.81 $2.01 (10%) FY 2011 FY 2010 % Earnings Per Share (cents per share) 2.
Slide 7: Mature Business
Mature Business – FY 2011 Mature result of $31.19M (guidance - $30.00M) For personal use only Challenging trading conditions in FY 2011: natural disasters in Japan and Australia turmoil on global financial markets Management is satisfied with the overall result 6 floors became mature in
Slide 8: Immature Business - Floors by Region
Immature Business – FY 2011 Immature Floors by Region For personal use only 30 June 2011 25 21 20 Number of Floors 15 10 8 6 5 4 3 3 1 0 Australia & Japan South East Asia Middle East Greater China Europe USA New Zealand Total Immature Floors = 46 3 6
Slide 9: Immature Business
Immature Business – FY 2011 Immature floor losses were $27.98M for FY 2011 For personal use only Offsetting immature floor losses were cash incentives received of $5.64M New floor Capex and Opex costs in line with budget expectations Executed majority of leases near the bottom of the market
Slide 10: Global Expansion - Update
Global Expansion – Update Total Floors Opened by Region 24 months ended 30 June 2011 For personal use only 25 20 Number of Floors 15 19 10 7 5 3 7 4 2 3 3 2 2 0 1 Australia & Japan South East Middle East Greater China Europe USA New Zealand Asia Total Floors Opened FY 2010 = 13 Total Floors Opened F
Slide 11: Global Expansion - Update
Global Expansion – Update Satisfied with overall progress of new floor rollouts For personal use only In FY 2012 we will slow the pace of expansion and consolidate Expect to open no more than 15 floors in FY 2012 68 floors expected to open in 36 months to 30 June 2012 9
Slide 12: Trading Update - Q1 FY 2012
Trading Update – Q1 FY 2012 Trading conditions continued to be challenging in Q1 FY 2012 For personal use only Global financial markets continue to be highly volatile This continues to impact business confidence Mature and Immature results for Q1 FY 2012 are in line with guidance Opened tw
Slide 13: FY 2012 Outlook
FY 2012 Outlook Management is cautiously optimistic about the outlook for Servcorp For personal use only Anticipate revenue and margins to continue to improve during FY 2012 Reaffirm guidance for FY 2012: Mature floor NPBT $37.00M Immature floor loss of approximately $20.00M [This forecast
Slide 14: Dividend
Dividend FY 2011 For personal use only Dividends of 10.0 cents per share fully franked paid in FY 2011 Dividend Outlook – FY 2012 Dividends of 15.0 cents per share expected to be paid for FY 2012 (Franking level expected to be at least 50%) [This payment is subject to currencies remaining consta