H1 2018 INTERIM Presented by: RESULTS For personal use only John Gibbs Managing Director & PRESENTATION Chief Executive Officer Allanna Ryan Chief Financial Officer 21 FEBRUARY 2018 Pacific Smiles Group – FY 2018 Interim Results Presentation 1
IMPORTANT NOTICE AND DISCLAIMER For personal use only This document is a presentation prepared by basis of any contract or commitment. expressions within the meaning of securities Pro forma financial information Pacific Smiles Group Limited (ACN 103 087 Accordingly, no action should be taken on the laws of applicable jurisdictions. Indications of, Pacific Smiles uses certain measures to 449) ( Pacific Smiles ). basis of, or in reliance on, this presentation. In and guidance on, future earnings or financial manage and report on its business that are not particular, this presentation does not constitute position or performance are also forward recognised under Australian Accounting Material in this presentation provides general an offer to sell, or a solicitation of an offer to looking statements. Standards. These measures are referred to as background information about the activities of buy, any securities in the United States. No non-IFRS financial information. Pacific Smiles current at the date of this securities of Pacific Smiles have been, and nor Forward looking statements involve inherent presentation, unless otherwise noted. will they be, registered under the Securities risks and uncertainties, both general and Pacific Smiles considers that this non-IFRS Information in this presentation remains Act of 1933 as amended ( US Securities Act ). specific, and there is a risk that such financial information is important to assist in evaluating Pacific Smiles’ performance. The subject to change without notice. Securities in Pacific Smiles may not be offered predictions, forecasts, projections and other Circumstances may change and the contents or sold in the United States except pursuant to forward looking statements will not be information is presented to assist in making of this presentation may become outdated as an exemption from, or in a transaction not achieved. Forward looking statements appropriate comparisons with prior periods a result. subject to, registration under the US Securities are provided as a general guide only, and and to assess the operating performance of Act and applicable US state securities laws. should not be relied on as an indication or the business. For a reconciliation of the non- The information contained in this presentation guarantee of future performance. Forward IFRS financial information contained in this is a summary only and does not purport to be Pacific Smiles, its related bodies corporate and looking statements involve known and presentation to IFRS-compliant comparative complete. It should be read in conjunction with any of their respective officers, directors, unknown risks, uncertainty and other factors, information, refer to the Appendices of this Pacific Smiles’ other periodic and continuous employees, agents or advisers ( Pacific and may involve significant elements of presentation. disclosure announcements lodged with the Smiles Parties ), do not make any subjective judgment and assumptions as to Australian Securities Exchange, which are representation or warranty, express or implied, future events which may or may not prove to All dollar values are in Australian dollars (A$) be correct, which can cause Pacific Smiles’ available at www.asx.com.au. in relation to the accuracy, reliability or unless otherwise stated. completeness of the information contained actual results to differ materially from the This presentation is for information purposes herein, and to the maximum extent permitted plans, objectives, expectations, estimates and A number of figures, amounts, percentages, only and is not a prospectus, product by law disclaim any responsibility and liability intentions expressed in such forward looking estimates, calculations of value and fractions disclosure statement or other offer document flowing from the use of this information by any statements and many of these factors are in this presentation are subject to the effect of under Australian law or the law of any other party. To the maximum extent permitted by outside the control of Pacific Smiles. As such, rounding. Accordingly, the actual calculation of jurisdiction. It is not intended to be relied upon law, the Pacific Smiles Parties do not accept undue reliance should not be placed on any these figures may differ from the figures set as advice to investors or potential investors any liability to any person, organisation or forward looking statement. Past performance out in this presentation. and does not take into account the investment entity for any loss or damage arising from the is not a guide to future performance and no objectives, financial or tax situation or needs of use of this presentation or its contents or representation or warranty is made by any any particular investor. Readers should otherwise arising in connection with it. person as to the likelihood of achievement or consider the appropriateness of the reasonableness of any forward looking information having regard to their own Forward looking statements statements, forecast financial information or objectives, financial and tax situation and This document contains certain forward other forecast. Nothing contained in this needs and seek independent legal, taxation looking statements and comments about presentation nor any information made and other professional advice appropriate for expectations about the performance of its available to you is, or shall be relied upon as, a their jurisdiction and individual circumstances. businesses. Forward looking statements can promise, representation, warranty or generally be identified by the use of forward guarantee as to the past, present or the future This presentation is not and should not be looking words such as, without limitation, performance of Pacific Smiles. Pacific Smiles ‘expect’, ‘outlook’, ‘anticipate’, ‘likely’, ‘intend’, considered as an offer or recommendation does not undertake any obligation to update or ‘should’, ‘could’, ‘may’, ‘predict’, ‘plan’, with respect to the subscription for, purchase review any forward-looking statements (other ‘propose’, ‘will’, ‘would’, ‘believe’, ‘forecast’, or sale of any security and neither this than to the extent required by applicable law). ‘estimate’, ‘target’ and other similar document, nor anything in it shall form the 2 Pacific Smiles Group – FY 2018 Interim Results Presentation
AGENDA For personal use only 1. PERFORMANCE HIGHLIGHTS 2. BUSINESS OVERVIEW AND UPDATE 3. RESULTS DETAIL 4. GROWTH AND OUTLOOK 5. APPENDIX 3 Pacific Smiles Group – FY 2018 Interim Results Presentation
SECTION 1 For personal use only PERFORMANCE HIGHLIGHTS Pacific Smiles Group – FY 2018 Interim Results Presentation 4
H1 2018 RESULTS SUMMARY For personal use only EBITDA / SAME EBITDA PATIENT DENTAL PATIENT NPAT CENTRE EPS DPS FEES CENTRES FEES GROWTH Underlying Underlying Underlying Underlying +3.3% $80.7m $10.9m 13.5% $4.9m 3.2 cents 2.3 cents 75 -110bps 1 -110bps 1 +9.7% +2.0% -8.5% -8.5% +0.1 cent +13 YOY Note: 1. 100 bps is equivalent to 1% 5 Pacific Smiles Group – FY 2018 Interim Results Presentation
TRACK RECORD OF SUCCESS Patient Fees and Number of Centres For personal use only $160.0m 80 $147.0m 75 $133.8m $140.0m 70 70 $121.4m $120.0m 60 58 $95.9m $94.8m $100.0m 50 $85.6m 49 $80.0m 40 $69.8m 41 $59.7m $60.0m 30 $48.9m 34 31 $40.0m 28 $40.0m 25 $80.7m 20 $73.6m 19 17 $20.0m 10 $0.0m 0 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 EBITDA (underlying) $20.9m $19.7m $18.4m $15.1m $13.3m $10.2m $8.0m $6.8m $5.0m $4.4m $10.7m $10.9m FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 EBITDA 6 Pacific Smiles Group – FY 2018 Interim Results Presentation
H1 2018 OPERATIONAL SNAPSHOT For personal use only Dental Centres Acquisition of NET PROMOTER Successful right- SCORE Everything 75 sizing of ex-DEP >75 Dentures and centre in Sculpt Dental Lab Parramatta 21% Growth on pcp Commissioned NEW CENTRES Chairs 5 290 15% Growth on pcp 420 989 Expansion of the Dentists Mentor DENTISTS EMPLOYEES Program 20% Growth on pcp 7 Pacific Smiles Group – FY 2018 Interim Results Presentation
EVERYTHING DENTURES AND SCULPT LAB For personal use only • Completed on 7 November 2017 for upfront consideration of $0.8m, plus $0.3m earn out component over two years • 11 locations, a mix of stand-alone denture clinics and Pacific Smiles dental centres • Two labs located at Canberra and Parramatta, with additional lab sites being developed in close proximity to existing Pacific Smiles dental centre clusters • Expanding presence at Pacific Smiles dental centres to better service denture patients both existing and new • Strong alignment between Everything Dentures and Pacific Smiles 8 Pacific Smiles Group – FY 2018 Interim Results Presentation
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