MYOB AGM Presentation and Addresses
Sydney, April 28, 2016 AEST (ABN Newswire) - Myob Group Ltd (
ASX:MYO) (7MY:FRA) has been an innovative software company since 1991, and provides tools to over a million enterprises and accountants to help improve their business performance and effectiveness. Through innovation, MYOB has been able to consistently grow and maintain its position as a market leader in Australia and New Zealand.
Our operations are divided into three segments. The SME Solutions division provides accounting software to 1.2 million SMEs across Australia and New Zealand and delivered 63% of 2015 total group revenue. Our Practice Solutions division provides practice management software to more than 40,000 accountants and delivered 25% of group revenue. Enterprise Solutions provides enterprise software to more than 7,000 medium to large sized businesses, contributing 13% of total group revenue.
As the adoption of online solutions gathers pace within the accounting market, our strategy is to maintain a domestic, ANZ focus as we believe this represents the best return on capital employed (ROCE) and the best opportunity for future growth.
FY15 FINANCIAL RESULTS
2015 delivered compelling pro forma financial results that either met or exceeded our prospectus forecasts.
The full details of MYOB's results for the 2015 financial year were provided in our results and Annual Report, both published on 25th February 2016. Therefore, I will just provide an overview of the results today.
Pro forma revenue was up 10% year on year at $328 million, of which 95% was recurring in nature. 87% of our EBITDA converted to cashflow, after working capital and capital expenditure.
Our 1.2 million clients are the backbone of our high cash-generating business. They provide us with the vital industry feedback we need, in order to build best in class technology solutions best suited to the wide spectrum of business owners who use our solutions to make business life easier.
Pro forma EBITDA and NPATA grew 19% and 22% respectively, while pro forma NPATA Earnings per Share was at 14.7c.
FINAL DIVIDEND
On the back of these strong financial results, the Board was pleased to declare a final dividend of 5.0c per share for the year, representing a total of $29 million returned to shareholders. We set expectations in the prospectus that we would start paying dividends from the second half of 2015 and this dividend falls in the middle of the range that we set, being 60-80% payout of statutory NPATA.
In a world where the market often divides between "growth stocks" and "yield stocks", MYOB offers both.
Before concluding my remarks, can I thank you, our shareholders, for your support. Your company is in excellent shape, within an exciting growth space and I am confident about its future.
I would also like to thank my fellow Directors who do an excellent job and the MYOB management team who are committed to delivering optimal results and maximum return for you, our shareholders.
(Justin Milne, Chairman)
To view the presentation, please visit:
http://abnnewswire.net/lnk/81K4M8WX
About Myob Group Ltd
MYOB Group Ltd (ASX:MYO) is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, follow @MYOB on Twitter or visit https://investors.myob.com.au/Investors
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