I N V E S T O R P R E S E N T A T I O N M A C Q U A R I E B A N K C O N F E R E N C E 0 4 . 0 5 . 1 6 TIM REED RICHARD MOOR OORE PRESENTERS CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER 04 MAY 2016
Important Notice The information contained in this FINANCIAL DATA Although MYOB believes these non-GAAP PAST PERFOR ORMANCE financial measures provide useful document (including this notice) or All information in the Presentation is in information to users in assessing the Past performance information given in this discussed at this presentation Australian dollars. financial performance and condition of its presentation is given for illustrative (collectively, the Presentation) has been business, you are cautioned not to place purposes only and should not be relied upon prepared by MYOB Group Limited The Presentation contains pro forma undue reliance on any non-GAAP financial (and is not) an indication of future (MYOB). financial information. Such pro forma measures included in the Presentation. performance. financial information has not been prepared The Presentation is subject to the in accordance with disclosure requirements FOR ORWARD STATEMENTS DISCLAIMER conditions outlined below. Your receipt of applicable accounting standards and other mandatory reporting requirements in No representation or warranty, expressed or The information is supplied in summary form or viewing of the Presentation Australia. implied, is made as to the accuracy, and is therefore not necessarily complete. evidences your acceptance of those reliability, adequacy or completeness of the The material contained in this presentation conditions and that you agree to be The pro forma historical financial information and opinions contained in the may include information derived from bound by them. information included in the Presentation Presentation. publicly available sources that have not been does not purport to be in compliance with independently verified. No representation or NO OF O OFFER OF OF SECURITIES Article 11 of Regulation S-X of the rules and The Presentation may contain certain warranty is made as to the accuracy, regulations of the U.S. Securities and forward looking statements, including completeness or reliability of the The Presentation is not a prospectus, Exchange Commission. Certain financial estimates, projections and opinions (Forward information. product disclosure statement, disclosure numbers labelled “pro forma” in this Statements). We use words such as ‘will’, document or other offer document under presentation have been adjusted to reflect ‘may’, ‘intend’, ‘seek’, ‘would’, ‘should’, To the maximum extent permitted by law, Australian law or under any other law. It certain pro forma items, including the ‘could’, ‘continue’, ‘plan’, ‘probability’, ‘risk’, the MYOB Group and each of its affiliates, does not, and is not intended to, constitute impact of historical acquisitions and ‘forecast’, ‘likely’, ‘estimate’, ‘anticipate’, directors, employees, officers, partners, an offer for subscription, financial product divestments, to eliminate non-recurring ‘believe’, or similar words to identify agents and advisers and any other person advice, invitation, solicitation or items and to reflect standalone public Forward Statements. Forward Statements involved in the preparation of the recommendation by any person or to any company costs, which have been more may involve known and unknown risks and Presentation disclaim all liability and person with respect to the purchase or sale reflected in the historical and forecast uncertainties and other factors, many of responsibility (including without limitation, of any securities or financial products in any periods. which are beyond the control of the MYOB any liability arising from fault or negligence) jurisdiction, and also does not form the basis Group, and have been made based upon for any direct or indirect loss or damage of any contract or commitment to sell or Certain financial data included in the management’s expectations and beliefs which may arise or be suffered through use apply for securities in MYOB or any of its Presentation are “non -GAAP financial concerning future developments and their or reliance on anything contained in, or subsidiaries. measures” under Regulation G of the U.S. potential effect on us. No representation is omitted from, the Presentation. The MYOB Securities Exchange Act of 1934, as made or will be made that any Forward Group accept no responsibility or obligation The information contained in the amended. These non-GAAP financial Statements will be achieved or will prove to to inform you of any matter arising or Presentation has been prepared without measures do not have a standardized be correct. Actual future results and coming to their notice, after the date of the taking account of any person’s investment meaning prescribed by Australian operations could vary materially from the presentation or this document, which may objectives, financial situation or particular Accounting Standards and therefore may Forward Statements. Circumstances may affect any matter referred to in the needs and noting contained in the not be comparable to similarly titled change and the contents of this Presentation. Presentation constitutes investment, legal, measures presented by other entities, and Presentation may become outdated as a tax or other advice. You must not rely on the should not be construed as an alternative to result. This presentation should be read in Presentation but make your own other financial measures determined in conjunction with MYOB’s other periodic and independent assessment and rely upon your accordance with Australian Accounting continuous disclosure announcements own independent taxation, legal, financial or Standards. lodged with the ASX, which are available at other professional advice. www.asx.com.au. 2 MYOB OB MACQUARIE CONFERENCE
Presented by: 3 MYOB OB MACQUARIE CONFERENCE
About MYOB – a leading ANZ cloud accounting solutions provider Over 1.2m SME’s, c40,000 accountants and c7,000 larger businesses in ANZ >1,200 team members across Australia and New Zealand Over $125m R&D spend over last 3 years SME SOLUTIONS PRACTICE SOLUTIONS ENTERPRISE SOLUTIONS Provides accounting software to 1.2 Provides practice software to more Provides enterprise software, million SMEs, including accounting, than 40,000 accountants, including including ERP and HRM software, to payroll, tax and other business client accounting, practice more than 7,000 medium and large management software, with secure management, tax, document businesses (generally 20 - 999 FTEs, bank transaction data from banks or management, company secretarial with some 1,000+). other financial institutions to assist in and insolvency solutions. the preparation of the SME’s accounts. PRO FORMA REVENUE PRO FORMA REVENUE PRO FORMA REVENUE $328m SME SOLUTIONS – 63% AUSTRALIA – 83% PRACTICE SOLUTIONS – 25% NEW ZEALAND – 17% ENTERPRISE SOLUTIONS – 13% 17% 13% 25% 83% 63% 4 MYOB OB MACQUARIE CONFERENCE
Pro Forma FY15 Results for Dec (Released 25 th February) 31 st December year end KEY METRICS DIVIDEND DECLARED OF 5.0C PER SHARE PRO FORMA REVENUE OF PRO FORMA EBITDA OF $328 MILLION $153 MILLION PRO FORMA NPATA EPS OF 14.7C UP 10% 10% YOY 1 UP 19% 19% YOY 1 RECURRING REVENUE UP 11% TO $312 MILLION, OR 95.1% OF TOTAL REVENUE PRO FORMA NPATA OF PRO FORMA CASHFLOW CONVERSION OF $86 MILLION 87% MILLION STATUTORY EBITDA OF $124 MILLION AND NPAT OF UP 22% 22% YOY 1 UP 1% 1% YOY 1 ($42 MILLION) On or ahead of prospectus forecast Note: 1. vs pro forma FY14 per IPO prospectus on a like-for-like basis. 5 MYOB OB MACQUARIE CONFERENCE
Operational Highlights: DURING OUR FIRST YEAR AS A 2015 – a year of transformation PUBLICLY TRADED COMPANY WE ARE ESPECIALLY PLEASED TO MEET OR EXCEED ALL OF THE FORECASTS WE PUBLISHED DURING OUR IPO PROCESS. JUSTIN MILNE CHAIRMAN COMPELLING SME GROWTH ACCOUNTING PRACTICES TARGETED DIFFERENTIATED FINANCIAL BEGINNING TO MOVE INVESTMENT VISION PERFORMANCE ONLINE IN FUTURE GROWTH Returned to the public 8% paying user growth, Over 1,000 practices 15% of revenue invested in Vision: bold strategy market in May 2015 5% ARPU growth using MYOB Portal technology in 2H15 of connected practice underpinning Grew revenues 10% and Accelerating online Online versions of Investment in digital sales investment in the comfortably achieved adoption, with 170,000 BankLink & Practice and marketing resources MYOB online prospectus forecasts online users; up 46% Ledger on track to be increased >30% platform on 2014 released in 2016 Leadership in New Zealand Significant opportunity payroll for ongoing growth in category penetration and lifetime value per client 6 MYOB OB MACQUARIE CONFERENCE
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