Slide 1: CountPlus Limited Goldman Sachs Investor Briefing
ASX announcement For personal use only CountPlus Limited Goldman Sachs Investor Briefing 12 May 2020 (Sydney) Contact Details A copy of the presentation is attached. Matthew Rowe Chief Executive Officer and Managing Director 1300 825 295 matthew.rowe@countplus.com.au This presentation has been autho
Slide 2: Investor Briefing
For personal use only CountPlus Limited (ASX: CUP) Investor Briefing Goldman Sachs Client Presentation 12 May 2020 PREPARED BY Matthew Rowe, Chief Executive Officer Laurent Toussaint, Chief Financial Officer
Slide 3: Contents
Contents For personal use only History of CountPlus 4 CountPlus Industry Snapshot 19 History of CountPlus – key numbers 7 What sets us apart 20 CountPlus transformation update 8 Important information 21 Key financial metrics 9 CountPlus operational update 10 Revenue segmentation - Accounting 11 Hist
Slide 4: History of CountPlus
History of CountPlus For personal use only 2011 2012 2013 2014 2015 2016 • Pre-IPO CountPlus • Five acquisitions made. • Investment in Class • One divestment made - • Principals in three firms • Enforceable Undertaking with operates as a subsidiary of Limited, a cloud-based sale of firm in WA. buy b
Slide 5: History of CountPlus cont.
History of CountPlus cont. Proud heritage – Exciting future For personal use only 2017 2018 • Matthew Rowe and Alison Ledger appointed to CountPlus Board (October 2016). • Divest Twomeys Wagga Wagga office. • Ray Kellerman appointed to CountPlus Board (January 2017). • Sale of equity interests in th
Slide 6: History of CountPlus cont.
History of CountPlus cont. Proud heritage – Exciting future For personal use only 2019 2020 so far • Acquire 40% interest in O'Brien’s. • 99.79% of eligible shareholders vote in favour of Count Financial acquisition – 26 August 2019. • Acquire 100% of Kerry Albert and “tuck-in” to existing firm, Uni
Slide 7: History of CountPlus – key numbers
History of CountPlus – key numbers For personal use only Source: CountPlus Annual Reports : FY 11 – FY19 CountPlus 1H20 Financial Statements CountPlus analysis Investor Presentation 7
Slide 8: CountPlus transformation update
CountPlus transformation update The evolution of CountPlus over three years is evident For personal use only CountPlus CountPlus currently three years ago Scope for further margin improvement. Number of underperforming and non-core firms in the CountPlus stable. Cash on hand $20.1M – 31 December 201
Slide 9: Key financial metrics
Key financial metrics Improved earnings growth; strengthened cash position For personal use only Movement Financial Results summary 1H20 1H19 Lock up days – 1H18 to 1H20 1H20 vs 1H19 $’000 $’000 $’000 % Revenue from operating activities 38,852 35,997 2,855 8 Adjusted Net profit attributable to Count
Slide 10: CountPlus Operational Update
CountPlus Operational Update COVID-19 Update For personal use only CountPlus does not provide earnings guidance or forward-looking statements regarding financial performance. At an operational level, we provide the following comments as we navigate the challenges of the COVID-19 operating environmen
Slide 11: Revenue Segmentation - Accounting
Revenue Segmentation - Accounting Diversified revenue base For personal use only • Clients are diversified across a wide range of segments. • There is low concentration risk – no one industry segment represents more than 20% of revenue and all but two industry segments represent less 10% of revenue.
Slide 12: History of Count Financial
History of Count Financial A platform for growth For personal use only In August 2020, Count Financial will How it all started… celebrate 40 years of providing financial Count Financial was founded by Barry Lambert in 1980. What started with an idea for accountants to provide financial advice has ad
Slide 13: Background – Count Financial
Background – Count Financial A strategic acquisition For personal use only Acquisition of Count Financial from the CBA Count Financial was acquired on the 1st October 2019 for $2.5m. Key items of the transaction include: • Purchase price represents a discount to net Additionally: tangible assets of
Slide 14: Background – Count Financial Cont.
Background – Count Financial Cont. A “new world” post the Royal Commission For personal use only Challenges we face User Pays Banning of Adviser Retention and New FASEA Education Grandfathered Growth From 1 December 2019 Count Standards Financial transitioned to a user Commissions Adviser numbers cu
Slide 15: Count Financial Operational Update
Count Financial Operational Update Count has delivered some key business enhancements during Q1 2020 For personal use only In recent years, Count Financial has not been profitable. Count Financial is now trading profitably. Since acquisition, we have enhanced the business as follows: • In January 20
Slide 16: Our market opportunity
Our market opportunity Doubling down on financial advice For personal use only A Culmination Hayne Royal Commission Legislative and regulatory changes The exit of once dominant vertically integrated New education and professional standards of known events institutional players Supply side Demand sid
Slide 17: Barriers to entry and regulation
Barriers to entry and regulation Changing regulation increases barriers to entry For personal use only JANUARY JANUARY JANUARY 2021 2022 2026 The accounting industry has been regulated through its professional bodies and qualifying exams. Financial (or earlier) Planners are now facing similar requir
Slide 18: Opportunities
Opportunities Delivering value in an aligned partner model – Owner, Driver - Partner Firms For personal use only Core OD-P Firms Activities of CUP as a partner investor in converged firms. OD-P model What we seek in a Partner Firm Formalised best practice governance and stewardship measures with a s
Slide 19: CountPlus Industry Snapshot
CountPlus Industry Snapshot For personal use only Industry at a glance* Operating Environment Opportunities Core Clients • Financial Advice Revenue $4.7B. • Major institutional advice players exiting. • Major institutional advice players exiting • Mass Affluent. – end of product subsidy AFSL • Accou
Slide 20: What sets us apart
What sets us apart For personal use only Our Vision Our Values Strategic Drivers and Key Goals To become Australia's Trust Clients Focus leading network of Earned through character, We deliver advice that secures We believe in professional accounting and competence and coachability. financial well b
Slide 21: Important information
Important information For personal use only This presentation is provided for information purposes only. The information in this Certain statements in this presentation may constitute forward-looking statements or presentation is in a summary form, does not purport to be complete and is not intended
Slide 22: Thank You
For personal use only Thank You Investor Presentation 22