Siv Capital Limited · ASX:SIV

Siv Capital — Silver Chef — Australian Microcap Investment Conference (August 2010)

28 slides from Siv Capital's conference presentation, Aug 3, 2010

  1. Slide 1: Silver Chef Limited (SIV)

    For personal use only Silver Chef Limited (SIV) Charles Gregory, CEO

  2. Slide 2: Agenda

    For personal use only • Overview • Industry Dynamics • Inside Our Business • Financial Highlights • Summary

  3. Slide 3: Overview – Silver Chef Limited

    For personal use only Overview – Silver Chef Limited • Long Term Commercial Equipment Rental Company • Primarily in Hospitality Sector • $ 100m Assets under management • Over 6,000 Clients • 23.22% CAGR in EPS since listing

  4. Slide 4: Overview – Our Success Story

    For personal use only Overview – Our Success Story • Strong, 24-year trading history • The opportunity - pizza oven story • Developing the “Rent. Try. Buy.” model • ASX listing 2005 • Expansion - GoGetta launched in 2008 • Leadership succession plan carried out July 2010

  5. Slide 5: Industry Dynamics

    For personal use only Industry Dynamics • SMEs need equipment AND working capital • Silver Chef offers a unique approach • Equipment + finance solution • Advantages over bank finance

  6. Slide 6: Rent. Try. Buy. Model

    For personal use only Rent. Try. Buy. Model • Low weekly rental • 75% rebate • One-year minimum term • Flexible options

  7. Slide 7: Inside Our Business

    For personal use only Inside Our Business • B2B - primarily hospitality sector • $100m assets under management • More than 7,500 contracts nationally • 29-month contract average

  8. Slide 8: Managing Risk

    For personal use only Managing Risk • Low bad debts 13-week rental bond No client larger than 1% 50% to 60% credit approval rate

  9. Slide 9: Managing Risk

    For personal use only Managing Risk • Finance - the business critical asset • Recession-tolerant business model • Majority of rental assets ultimately purchased by client

  10. Slide 10: Asset risk management - hospitality

    For personal use only Asset risk management - hospitality

  11. Slide 11: Asset risk management - GoGetta

    For personal use only Asset risk management - GoGetta

  12. Slide 12: Inside Our Business - Funding

    For personal use only Inside Our Business - Funding • 74 Million Dollar Debt Facility secured • Successful capital-raising program 2010 • $40m per year internally generated

  13. Slide 13: Inside Our Business - Our People

    For personal use only Inside Our Business - Our People • Core Values – TRAFIC • Investing in our people • Incentive-based pay – Alignment • Annual conference • Experienced Board and Leadership Team

  14. Slide 14: BRW Great Place to Work Survey

    For personal use only BRW Great Place to Work Survey 25 th

  15. Slide 15: BRW Great Place to Work Survey

    For personal use only BRW Great Place to Work Survey “Taking everything into account I would say this is a great place to work” 90% Yes “Management has a clear view of where the organisation is going and how to get there” 94% Yes “Management is competent at running the business” 100% Yes “I’m proud

  16. Slide 16: Inside Our Business - Our Clients

    For personal use only Inside Our Business - Our Clients

  17. Slide 17: Our Clients

    For personal use only Our Clients • Harry – our profile client! • Engaging our clients • The HISI report

  18. Slide 18: Growth Strategies - Strategic Planning & Execution

    For personal use only Growth Strategies - Strategic Planning & Execution

  19. Slide 19: Growth Strategies - Silver Chef Hospitality

    For personal use only Growth Strategies - Silver Chef Hospitality Limited competition, Organic growth Franchise market & broker strategy GoGetta Managed organic growth Australian market, Sector strategy

  20. Slide 20: Financial Highlights

    For personal use only Financial Highlights • Market cap at ASX listing 2005 - $13.4 million • Market cap 2010 - $53 million (share price @$2.50) • 23.22% CAGR in EPS since 2005

  21. Slide 21: Financial Highlights 1H2010

    For personal use only Financial Highlights 1H2010 • Rental Income up 45% to $23.3m • NPBT $ 4.2m up from $ 1.1m • Operating Cash flow $16.7m up from $9.7m • Interim fully-franked dividend doubled to 8 cents per share • FY2010 EPS Guidance 28 cps

  22. Slide 22: Financial & Investor Results – Years

    For personal use only Financial & Investor Results – 5 Years

  23. Slide 23: Financial & Investor Results – Years

    For personal use only Financial & Investor Results – 5 Years

  24. Slide 24: Financial & Investor Results – Years

    For personal use only Financial & Investor Results – 5 Years

  25. Slide 25: Financial & Investor Results – Years

    For personal use only Financial & Investor Results – 5 Years

  26. Slide 26: Investment Proposition

    For personal use only Investment Proposition • FY 2010 EPS guidance upgraded to 28cps • FY 2010 PE of 9 times @ 2.50 • Sustainable CAGR of 23% in EPS since listing in 2005 • High degree of certainty – recurring income streams • Succession plan executed

  27. Slide 27: Summary

    For personal use only Summary • Market leader with unique business model • High degree of certainty – recurring income streams • Successful risk management • Strong Board and Management team • Strategies in place for future growth in existing and new markets

  28. Slide 28: Silver Chef Limited (SIV)

    For personal use only Silver Chef Limited (SIV)

Silver Chef — Australian Microcap Investment Conference (August 2010) on 6ix