Tullio Cofrancesco - AGM 2015 - CFO Address - Office Brands Limited
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The 2015 annual general meeting document reported on Office Brands Limited's financial results for 2014-2015. Key results included record distributions to licensees of over $1.28 million and total rebate distributions over $6.3 million. The company also declared a special dividend of $2.10 per share. Financially, the company strengthened its balance sheet with net equity increasing to over $1.7 million and net assets per share reaching $18.06. Revenues grew 4% while earnings per share were $3.26.
Tullio Cofrancesco - AGM 2015 - CFO Address - Office Brands Limited
- 1. 2015 Annual General Meeting
- 2. Tullio Cofrancesco Chief Financial Officer/Company Secretary
- 3. Financial Report 2014-2015 OFFICE BRANDS LIMITED
- 4. Distributions to Licensees Declaration of Dividend Restoration of Balance Sheet Revenues & Expenses Net Earnings KEY RESULTS 2014-2015
- 5. Compliance Distributions of over $1.28M Total Rebate Distributions over $6.3M (including the early payment of BPGI rebates) Normalised Rebate Distributions over $6.1M (when allowing for early BPGI payments) compared to $5.9M in 2014. DISTRIBUTIONS
- 6. DISTRIBUTIONS $5,400,000 $5,600,000 $5,800,000 $6,000,000 $6,200,000 $6,400,000 2012 2013 2014 2015 Distribution to Licensees Total Rebates Returned to Licensees
- 7. DISTRIBUTIONS - $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 2011 2012 2013 2014 2015 Compliance Distributions Total Compliance Distributions BPGI Redistribution Advertising Redistribution
- 8. Special cash dividend of $2.10 cents per share (fully franked) Notional Yield of 11.6% SPECIAL DIVIDEND
- 9. Net Equity to over $1.7M Total Assets $3.97M Total Liabilities $2.18M Net Equity increased 14% Net Assets per Share $18.06 (2014: $15.42) Cash Reserves & Financial Assets increased 89% Current Ratio increased to 0.99:1 (2010: 0.37:1) Debt to Equity Ratio 1.5:1 (2014: 2.4:1) Retained Earnings $1.67M inc Asset Revaluation Write-back BALANCE SHEET STRENGTH
- 10. BALANCE SHEET STRENGTH 0.30 0.40 0.50 0.60 0.70 0.80 0.90 1.00 2011 2012 2013 2014 2015 Current Ratio
- 12. BALANCE SHEET STRENGTH 0.00 1.00 2.00 3.00 4.00 5.00 6.00 2011 2012 2013 2014 2015 Debt To Equity Ratio
- 13. Rebate and Advertising Revenues 4% growth Significant reduction in Direct Costs Growth in Gross Profit Increased Technology and e-Commerce Operational Spend REVENUES & EXPENSES
- 15. Earnings Before Interest, Tax & Compliance Distributions down by 7.5% Profit before Tax of $377,550 down 34% after early payment of BPGI Rebates Net Profit after Tax of $310,029 after early payment of BPGI Rebates Earnings per Share = $3.26 NET EARNINGS
- 16. Record Licensee Distributions (even after allowing for early payment of BPGI Rebate) Special Dividend $2.10 per share Net Equity $1.7M ( 14%) Net Assets per Share $18.06 Current Ratio = 0.99:1 Rebate & Advertising Revenues 4% Growth Earnings per Share = $3.26 SUMMARY