Gattaca Plc · LSE:GATC
Gattaca — Matchtech Group — H1 2012 Earnings Presentation
32 slides from Gattaca's earnings presentation, April 2012
Slide 1: 2012 Interim Results Presentation
Interim Results for the period to 31 January 2012 2012 Interim Results Presentation April 2012 GROWING DIVERSIFYING ADDING VALUE Adrian Gunn - Chief Executive Officer Tony Dyer - Chief Financial Officer
Slide 2: H1 Headlines
2 Interim Results for the period to 31 January 2012 H1 Headlines Key Financials Net Fee Profit from Earnings Interim Revenue Dividend Income Operations per Share +25% 5 pence +26% +36% +38% per share
Slide 3: H1 Headlines: Operations
3 Interim Results for the period to 31 January 2012 H1 Headlines Operations • Unprecedented demand for Contract staff within our core technical markets • Record number of contractors on assignment (up 23% on 31 January 2011 to 6,400) • Record average weekly contract NFI • Diversification strategy in
Slide 4: H1 Results and Group performance
4 Interim Results for the period to 31 January 2012 H1 Results and Group performance
Slide 5: H1 Results: Income Statement
5 Interim Results for the period to 31 January 2012 H1 Results Income Statement Period to 31 January 2011 H1 2012 H1 Increase £m £m Revenue 141.1 176.7 +25% Contract NFI 9.4 11.6 +23% Contract gross margin (%) 6.9% 6.8% Permanent Fees 4.2 5.6 +33% Gross profit (NFI) 13.6 17.2 +26% Gross margin (%) 9
Slide 6: H1 Results: Overheads
6 Interim Results for the period to 31 January 2012 H1 Results Overheads Period to 31 January 2011 H1 2012 H1 2012 H1 £m £m £m Staff and Sales & Marketing Costs 9.5 10.1 11.4 Establishment & Administration 1.1 1.3 1.4 Expenses Financial & Professional Costs 0.5 0.4 1.0 Total Overheads 11.1 11.8 13.8
Slide 7: Earnings per share & Dividends
7 Interim Results for the period to 31 January 2012 H1 Results Earnings per share & Dividends Period to 31 January 2011 H1 2012 H1 Increase £m £m Profit after tax 1.6 2.2 +38% Average shares in issue 23.4 23.4 +0% Shares under option 0.3 1.1 +267% Fully diluted shares 23.7 24.5 +3% Earnings Per Shar
Slide 8: Statement of financial position
8 Interim Results for the period to 31 January 2012 H1 Results Statement of financial position As at 31 January 2011 H1 2012 H1 £m £m Non-current assets 1.9 2.5 Current assets Trade debtors 39.2 53.3 Other debtors 0.6 0.9 Cash1 0.8 0.9 Total assets 42.5 57.6 Current liabilities Trade & other credito
Slide 9: Group Performance: Debtors
9 Interim Results for the period to 31 January 2012 Group Performance Debtors • £35m committed banking facilities until 7 April 2013 • Discussions have commenced with Barclays • Reduction in debtor days to 47 (31 July 2011: 53)
Slide 10: H1 Results: Cashflow
10 Interim Results for the period to 31 January 2012 H1 Results Cashflow Period to 31 Janaury 2011 H1 2012 H1 £m £m Profit from operations 2.5 3.4 Working capital decrease in trade debtors 1.2 2.2 Working capital (decrease)/increase in trade creditors (0.5) 3.2 Non-cash items 0.4 0.6 Cash inflow fro
Slide 11: Group NFI analysis
11 Interim Results for the period to 31 January 2012 H1 Results Group NFI analysis By Segment 2011 H1 2012 H1 Increase % of NFI 2010 £m £m % Engineering 4.7 5.8 +23% 34% Built Environment 2.5 2.9 +16% 17% Information Systems & Technology 2.9 3.6 +24% 21% Science & Medical 0.9 0.9 +0% 5% Matchtech UK
Slide 12: Group Performance: Permanent Activity
12 Interim Results for the period to 31 January 2012 Group Performance Permanent Activity
Slide 13: Group Performance: Contract Activity
13 Interim Results for the period to 31 January 2012 Group Performance Contract Activity
Slide 14: Group Performance: Half Year Performance
14 Interim Results for the period to 31 January 2012 Group Performance Half Year Performance
Slide 15: H1 Business Unit and Sector overview
15 Interim Results for the period to 31 January 2012 H1 Business Unit and Sector overview
Slide 16: 5-year business plan: Seven key aims
16 Interim Results for the period to 31 January 2012 5-year business plan Seven key aims Diversify Expanding our sector diversification and geographical reach by building on our early successes looking at opportunities to grow into new sectors and add additional strategic locations NFI per Increasin
Slide 17: Engineering Sector
17 Interim Results for the period to 31 January 2012 Business Overview Engineering Sector (34% of Group NFI) Performance (£m) 2011 H1 2012 H1 Change KPI's 2011 H1 2012 H1 Change Revenue 64.5 79.7 +24% % Contract 85% 83% -2% Contract NFI 4.0 4.8 +20% % Permanent 15% 17% +2% Contract gross margin (%)
Slide 18: Built Environment Sector
18 Interim Results for the period to 31 January 2012 Business Overview Built Environment Sector (17% of Group NFI) Performance (£m) 2011 H1 2012 H1 Change KPI's 2011 H1 2012 H1 Change Revenue 30.9 37.8 +22% % Contract 88% 86% -2% Contract NFI 2.2 2.5 +14% % Permanent 12% 14% +2% Contract gross margi
Slide 19: Information Systems & Technology Sector
19 Interim Results for the period to 31 January 2012 Business Overview Information Systems & Technology Sector (21% of Group NFI) Performance (£m) 2011 H1 2012 H1 Change KPI's 2011 H1 2012 H1 Change Revenue 26.5 37.3 +41% % Contract 55% 58% +3% Contract NFI 1.6 2.1 +31% % Permanent 45% 42% -3% Contr
Slide 20: Science & Medical Sector
20 Interim Results for the period to 31 January 2012 Business Overview Science & Medical Sector (5% of Group NFI) Performance (£m) 2011 H1 2012 H1 Change KPI's 2011 H1 2012 H1 Change Revenue 2.9 4.0 +38% % Contract 33% 44% +11% Contract NFI 0.3 0.4 +33% % Permanent 67% 56% -11% Contract gross margin
Slide 21: elemense
21 Interim Results for the period to 31 January 2012 Business Overview elemense (5% of Group NFI) Performance (£m) 2011 H1 2012 H1 Change Revenue 6.6 5.0 -24% Contract NFI 0.6 0.8 +33% Contract gross margin (%) Permanent Fees Total NFI 9.1% 0.1 0.7 16.0% - 0.8 -100% +14% 17% (£52m) of the Group’s re
Slide 22: Professional Services
22 Interim Results for the period to 31 January 2012 Business Overview Professional Services (16% of Group NFI) Performance (£m) 2011 H1 2012 H1 Change KPI's 2011 H1 2012 H1 Change Revenue 9.1 11.4 +25% % Contract 35% 29% -6% Contract NFI 0.6 0.8 +33% % Permanent 65% 71% +6% Contract gross margin (%
Slide 23: Matchtech Germany
23 Interim Results for the period to 31 January 2012 Business Overview Matchtech Germany (2% of Group NFI) Performance (£m) 2011 H1 2012 H1 Change KPI's 2011 H1 2012 H1 Change Revenue 0.6 1.4 +133% % of Contract NFI 50% 75% +25% Contract NFI 0.1 0.3 +200% % of Permanent Fees 50% 25% -25% Contract gr
Slide 24: Extending our International Reach
24 Interim Results for the period to 31 January 2012 Extending our International Reach Currently 2% of contractors working overseas Outlook
Slide 25: Shared Services: Adding Value
25 Interim Results for the period to 31 January 2012 Shared Services Adding Value • Investment has been made across all our Shared Service Departments – Legal & Compliance – Bids & Marketing – IT Systems & Infrastructure – Finance & Accounting – HR & Training • Supporting the ongoing diversification
Slide 26: Outlook and Investment Summary
26 Interim Results for the period to 31 January 2012 Outlook and Investment Summary
Slide 27: Outlook
27 Interim Results for the period to 31 January 2012 Outlook Confidence in core markets and continued diversification strategy • Core UK technical markets remain strong – Strong global demand for our clients’ products and services – Major UK infrastructure projects which we support provide us with l
Slide 28: Investment Summary
28 Interim Results for the period to 31 January 2012 Investment Summary Key strengths of the business Excellent client base Good mixture of contingency and framework agreements Niche industry focus Operating within many sectors Well balanced Healthy mix of perm and contract recruitment Clear growth
Slide 29: Appendices
29 Interim Results for the period to 31 January 2012 Appendices
Slide 30: Board of Directors
30 Interim Results for the period to 31 January 2012 Board of Directors George Materna - Chairman Over 30 years experience of the recruitment industry, and is the founder of Matchtech. Adrian Gunn - Chief Executive Officer Joined in 1988; appointed to PLC Board in 2004 as Business Development Direct
Slide 31: Executive Team
31 Interim Results for the period to 31 January 2012 Executive Team Keith Lewis - Managing Director, Matchtech UK Keith, a Fellow of the Institute of Recruitment Professionals (FIRP), joined us in 1993 as a Senior Consultant, before progressing to his current position. Keith is also on the Steering
Slide 32: Disclaimer
32 Interim Results for the period to 31 January 2012 Disclaimer The information in this presentation pack, which does not purport to be comprehensive, has been provided by Matchtech, and has not been independently verified. While this information has been prepared in good faith, no representation or