FY’14 and Our Road Ahead September 2014
Financial Snapshot FY14 FY13 % Change Normalised FY14* % Change Revenue (OTC) $43.3m $48.5m -10.7% $43.3m -10.7% Revenue (Statutory) $31.8m $36.2m -12.3% $31.8m -12.3% EBITDA $9.7m $11.1m -13.1% $10.3m -7.2% EBIT $7.4m $9.0m -17.7% $8.0m -11.1% NPBT $7.4m $8.9m -17.5% $8.0m -10.1% NPAT $5.0m $6.4m -21.7% $5.6m -12.9% EPS 21.0c 26.9c -21.9% 23.6c -12.4% DPS 14.5c 18.5c -21.6% 14.5c n/a *Normalised Earnings represents Earnings stated in accordance with A-IFRS after excluding c.$0.6m of non-recurring expenses (stamp duty and legal fees) in relation to acquisitions. Normalised Earnings is a non‐IFRS financial performance measure. 2
2H’14 Continued Growth off Baseline 30 Revenue OTC Revenue 25 20 $M 15 10 5 0 1H'13 2H'13 1H'14 2H'14 1H’13 CDDS anomaly (closed 30 Nov 2013) Dental Fiscal Cliff 2H’13 Increased revenue in each HY from 2H’13 3
EBITDA Operating Margins 50% EBITDA / Revenue EBITDA / OTC Revenue 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 4
Revenue 50 Revenue OTC Revenue 40 30 $M 20 ASX Listing ↓ 10 0 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 OTC Revenue 5 year Compound Growth: 9.4% (FY10-FY14) OTC Revenue 5 year Compound Growth: 21.1% (FY09-FY13) 5
Franked Dividends 20.0c Final Dividend Interim Dividend 15.0c 8.5 9.2 8.0 8.0 10.0c 7.2 6.0 4.5 3.4 5.0c 3.4 10.0 8.6 7.5 6.5 6.5 5.4 3.0 4.0 3.6 3.4 0.8 0.0c '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 Total Cash Dividends $24.7m vs Total Capital Raised $12.5m 6
Increasing Shareholder Wealth 160 Enterprise Value Total Assets 140 120 $M 100 $102m Spread 80 60 40 20 0 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 Key Focus – Increasing the spread between the value of the company and the value of assets employed $140.5m (30/6/14) of EV vs $38.8m of assets = $101.7m spread (262% increase) 7
1300SMILES Limited Letter from the Managing Director 30 June 2014 Youth With A Mission YWAM continues to deliver medical, dental and optical services on an extraordinary scale directly to remote areas of Papua New Guinea which for the most part have no other medical care available. I am joined by many 1300SMILES staff and dentists who have volunteered their time and effort both on board the ship and in other capacities. As a company, we support and encourage this generosity on the part of our people. 8 1300SMILES ANNUAL REPORT 2014
1300SMILES Limited Letter from the Managing Director 30 June 2014 YWAM’s latest initiative, called “Overcoming the Impossible,” aims to raise the remaining $5 million required to convert a former cruise ship into its primary operating vessel, known as M.V. Ammari. I personally am proud to assist YWAM with this effort. OLD SHIP – Pacific Link $6.5m NEW SHIP – MV Ammari I am especially pleased to invite all shareholders to take the opportunity to visit YWAM’s new ship during the Overcoming the Impossible Tour. The ship will call in at ten ports between Cairns and Sydney between August and December. I urge you to come aboard and have a tour. You will be amazed by the facilities, and the generosity of the volunteer crew will leave you speechless. For more information and details please visit their website at www.ywamships.org.au 9 1300SMILES ANNUAL REPORT 2014
1300SMILES Limited Letter from the Managing Director 30 June 2014 Most recently we announced that five percent of the ongoing payments received from all new members in our $1-a- day Dental Care Plan will be donated to YWAM Medical Ships. This ongoing funding will assist YWAM to address critical oral health problems in some of PNG’s most remote and vulnerable communities. 10 1300SMILES ANNUAL REPORT 2014
Thank you Q & A 8
Disclaimer This presentation contains forward looking statements, which may be subject to significant uncertainties outside of 1300SMILES’ control. No representation is made as to the accuracy or reliability of these forecasts or the assumptions on which they are based. Actual future events may vary from these forecasts. 9
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