ANNUAL GENERAL MEETI NG 16 November 2016
Em ergency exits ST GEORGES TCE Navitas Annual General Meeting – 16 November 2016 2 BROOKFI ELD PLACE
Chairm an’s Address
Continued im provem ent of high quality academ ic outcom es 85% than 80% Pathway Retention pass rates of rates of more more than 90% quality 98% Progression Students to partner satisfied rates of more with than program Navitas Annual General Meeting – 16 November 2016 4
Solid financial perform ance in a challenging year Revenue ($m) Underlying EBITDA* ($m) NPAT ($m) 688.5 126.8 73.1 FY12 731.7 130.0 74.6 FY13 FY14 878.2 144.9 51.6 980.3 163.1 71.8 FY15 FY16 1,010.7 164.6 90.1 * Excluding goodwill impairment Navitas Annual General Meeting – 16 November 2016 5
A greater focus on partnerships and pathw ays to em ploym ent VISION To be one of the most trusted learning organisations in the world PURPOSE Student outcomes and student experience TERTIARY INDUSTRY PARTNERSHIPS PARTNERSHIPS • University Pathways Programs • Skills-based, industry relevant courses • Tertiary Partnerships • Practical, work integrated learning • International and Domestic Pathways • Industry engagement NAVITAS VENTURES - INNOVATION & DISRUPTION • New business models • Incubation, Experimentation and Agility GLOBAL CAPABILITIES LEARNING & TEACHING STAKEHOLDER RELATIONS MARKETING GLOBAL RECRUITMENT BUSINESS DEVELOPMENT FINANCE INFORMATION TECHNOLOGY HUMAN RESOURCES WORLD CLASS GLOBAL SUSTAINABLE QUALITY EFFICIENCY GROWTH RESPECT DRIVE ADVENTUROUS GENUINE RIGOUR CONVICTION 6 Navitas Annual General Meeting – 16 November 2016
Tracey Horton • Commences as Chairman today • Non-Executive Director of Navitas since June 2012 • Extensive international business and education experience including as Winthrop Professor and Dean of the University of Western Australia as well as senior roles at Bain & Company, Poynton & Partners and the Reserve Bank of Australia • Currently a Commissioner for Tourism Western Australia, Board member of the Australian Institute of Company Directors, Chairman of Presbyterian Ladies College and a member of the Australian Takeovers Panel Navitas Annual General Meeting – 16 November 2016 7
R Shareholder value and EVA Econom ic Value Added ( $ m ) Econom ic Value Added 62.9 (2.6) 60.3 The profit above and beyond what investors could expect elsewhere Profit made Profit by Navitas investors could expect to earn elsewhere FY15 FY16 FY16 EVA was impacted by the closing of Macquarie University and Curtin University operations in Sydney Navitas Annual General Meeting – 16 November 2016 8
Address CEO’s
Vision To be one of the most trusted learning organisations in the world Sustainable W orld Class Global Grow th Quality Efficiency Navitas Annual General Meeting – 16 November 2016 10
W orld class quality Academ ic Quality Student Experience University Partnerships University Partnerships Pre university and pathway Annual survey of 5 ,5 0 0 students program pass rates > 8 0 % and graduates 9 7 % of students satisfied with Retention rates > 8 5 % o teaching experience Progression to partner 9 8 % of students satisfied with university rate > 9 0 % o quality of their study PEP PEP • ACAP/ NCPS teaching quality, • Navitas ELICOS college voted best learning response and skills in Australia in world leading developments rated above student survey 8 5 % in a national survey SAE SAE • Australian destination survey of • SAE recognised in Australian 2014 graduates found 8 5 % of government quality survey respondents had secured (QILT) for learner employment engagem ent and student support Navitas Annual General Meeting – 16 November 2016 11
Continuous contract renew al 2 year progress report Upcom ing in FY1 7 Adult Migrant English 4 new agreements Program – June 2017 • Florida Atlantic University HIC with University of • University of Northampton Hertfordshire – July 2017 International College • Western Sydney University International College (JV) • University of Canberra College (JV) 7 agreements renewed under materially similar terms and conditions – 1 converted to a JV (ECU) 2 Curtin agreements extended to complete discussions 12 Navitas Annual General Meeting – 16 November 2016
Global dem and for international education continues to grow International student enrolments (m) Projected 2025 More students travelling 8.0 overseas to study 4,528,044 in 2012 By 2025 there 4.5 4.3 will be 8.0m 4.1 2,087,702 3.7 3.5 students 3.2 3.1 in 2000 3.0 2.8 2.6 crossing 2.4 2.1 2.1 borders to study 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2025 Source: UNESCO Institute of Statistics, 2016; Education at a Glance , OECD 2015 ; Navitas Annual General Meeting – 16 November 2016 13
Creating efficiency and grow th Building a platform for sustained grow th Building a platform for sustained grow th Finance IT HR Global Learning Shared Services Shared Services Shared Services and Teaching team Navitas Annual General Meeting – 16 November 2016 14
Sem ester 3 2 0 1 6 University Partnership enrolm ents – declining im pact of Macquarie and Curtin Sydney Historical University Partnerships EFTSU and enrolm ent grow th 2 0 ,0 0 0 15% 19,470 19,247 18,862 1 8 ,0 0 0 - % Enrolmnet growth excluding MQC, SIBT and CUS 10% 17,067 16,870 1 6 ,0 0 0 16,570 16,396 16,422 16,420 - % Enrolment growth on pcp (RHS) 15,439 15,426 15,054 14,744 1 4 ,0 0 0 14,097 5% 13,602 - MQC, SI BT and CUS 1 2 ,0 0 0 - EFSTU ( LHS) 1 0 ,0 0 0 0% 8 ,0 0 0 6 ,0 0 0 -5% 4 ,0 0 0 2 ,0 0 0 -10% 1201 1202 1203 1301 1302 1303 1401 1402 1403 1501 1502 1503 1601 1602 1603 Semester Latest • Semester 3 2016 underlying global enrolments grew by 2 % vs pcp Including closing colleges, global enrolments decreased by 8 % o • Figures include 740 Joint Venture college enrolments (Edith Cowan, Western Sydney and Canberra) Navitas Annual General Meeting – 16 November 2016 15
FY1 7 outlook – biased tow ards H2 EBITDA • H2 FY16 and H1 FY17 impacted by: H2 H2 o Ramp down of Macquarie H1 H2 H2 H1 contracts – by H2 FY17 SIBT H1 H2 will be operating on a new H1 normalised level H1 o Final teach out and closure of Curtin Sydney • No impact from closing colleges in H2 FY17 FY13 FY14 FY15 FY16 FY17 bias Guidance ‐ FY17 EBITDA result expected to remain broadly in line with FY16 Navitas Annual General Meeting – 16 November 2016 16
the meeting Business of
I tem 1 To receive the Financial Report, Directors’ Report and Auditor’s Report To receive and consider the financial report, together with the directors’ report and the auditor’s report, for the year ended 30 June 2016. Navitas Annual General Meeting – 16 November 2016 18
I tem 2 Resolution 1 – Adoption of Rem uneration Report That the remuneration report, which forms part of the Report of Directors for the year ended 30 June 2016, be adopted. Navitas Annual General Meeting – 16 November 2016 19
I tem 3 Resolution 2 – Election of Ms Lisa Paul AO PSM That, Ms Lisa Paul, who was appointed as a Director by the Board on 2 February 2016, and being eligible offers herself for election, be elected as a Director of the Company. Navitas Annual General Meeting – 16 November 2016 20
QUESTIONS
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