Accordant Group Limited · NZX:AGL
Accordant — FY2015 Earnings Presentation
12 slides from Accordant's earnings presentation, June 2015
Slide 1: Annual Results Presentation for the Financial Year Ended 31 March 2015
ANNUAL RESULTS PRESENTATION FOR THE FINANCIAL YEAR ENDED 31 MARCH 2015 SIMON BENNETT ROSS KEENAN CHIEF EXECUTIVE CHAIRMAN JUNE 2015
Slide 2: FY15: A stronger Group
FY15: A stronger Group • Madison performed well on the back of a stronger economy resulting in a lift in permanent recruitment, particularly in Auckland. • AWF strong in Auckland, Wellington and Christchurch. • Regions weaker with reduced spend by central government, impact of NZTA and weaker region
Slide 3: Summary Result
Summary Result FY 2014 ($m) FY 2015 ($m) Change ($m) Change (%) Revenue 148.7 197.5 48.8 33% EBITDA 8.4 12.6 4.2 50% NPAT 3.9 5.4 1.5 38% Underlying earnings 4.6 6.8 2.2 48%
Slide 4: Dividend Chart
Dividend Chart 20 18 3 16 14 Cents per share 12 10 8 15.6 15.2 14 13 6 10.2 4 2 0 FY11 FY12 FY13 FY14 FY15 Financial Year Dividend Special Dividend
Slide 5: Dividend Policy
Dividend Policy • Declare a steady lift in dividends. • Current annual dividends targeted at 60 - 65% of underlying earnings after tax. • This policy may change at the discretion of the Board.
Slide 6: Financial Performance
Financial Performance $m FY 2012 FY 2013 FY 2014 FY 2015 Total Revenue 104,915 130,477 148,691 197,514 Employee benefit expense* -89,468 -112,403 -129,417 -173,192 EBITDA** (from continuing operations) 6,771 8,338 8,385 12,612 Profit for the period (from continuing operations) 2,877 4,952 3,952 5,41
Slide 7: Business Performance
Business Performance • Maintained all existing key clients, successful in developing FB. • Margin impacted by addition of new key accounts and slower regional activity. • Tradeforce had slow first half but strong second half. • Two successful Maori cadetship programmes completed and development of p
Slide 8: Business Performance
Business Performance • Contracting revenue increased on declining margin, resulting in a smaller reduction in $ margin. • Double digit growth in permanent revenue. • Single digit margin growth in temporary revenue. • Strong year on year revenue growth, comparing company full year results. • Establis
Slide 9: Group Corporate Structure
Group Corporate Structure • Corporate identity defined as AWF Madison Group Limited. • Brand and business identity for AWF clarified. • CEO transition completed. • Alex Park commenced as AWF COO in May 2015. • Group Marketing & Sourcing structure established in April 2015.
Slide 10: Capital Raising and Debt
Capital Raising and Debt • $13.5m (net) proceeds from March capital raising. • Bank funding facility of $28.8m, of which $21.75m was drawn at 31st March. • Facility expires later this year. • Management expect to renegotiate and renew the facility during the year in the normal course of business. •
Slide 11: Outlook
Outlook • We have two strong business units. • Focus for next 12 months on execution and operational excellence. • Continue to leverage strength of business units. • Look to build capability in new channels including growth in higher value blue collar recruitment. • Continue to expand our growing tr
Slide 12: Thank you
Thank you SIMON BENNETT ROSS KEENAN CHIEF EXECUTIVE CHAIRMAN 021 036 8387 021 685 655