DWS : 2016 Full Year Results Announcement and Appendix 4E

DWS Limited (and Controlled Entities) ACN 085 656 088

RESULTS ANNOUNCEMENT TO THE MARKET

2016 Full Year Financial Results

[Based on accounts currently being audited]

DWS Limited (DWS) announces the following results and highlights for the year ended 30 June 2016:

• Revenue from continuing operations of $144.5M (up $49.9M or 53% from the prior corresponding period (pcp));

• Underlying EBITDA of $25.8M (excluding $0.4M of one-off acquisition costs) (up $9.9M or 63% on pcp);

• NPAT of $16.8M (up $6.4M or 62% on pcp);

• Cash flow from operations (before interest and tax) 94% of EBITDA;

• DWS' balance sheet remains strong and liquid with gross cash of $10.2M;

• Final fully franked dividend of 5.0 cents per ordinary share declared;

  • Final Dividend 5.0 cents per ordinary share

  • Record Date 2 September 2016

  • Expected Payment Date 4 October 2016

• Billable consultant capacity continues to grow to meet increased client demand. Total billable consultants at 30 June 2016: 715 (June 2015: 517);

• Strong contribution from Victoria, New South Wales and Queensland regions; and

• Full year contribution from Symplicit acquisition and ten months contribution from Phoenix.

2016 $000's	2015 $000's	Change Change $000's %
144,494	94,632	49,862	52.7%
1,263	35	1,228	3508.6%
(114,181)	(75,407)	(38,774)	(51.4%)
(5,771)	(3,395)	(2,376)	(70.0%)
25,805	15,865	9,940	62.7%
18%	17%
(371)	(215)	(156)	(72.6%)
-	(518)	518	100.0%
-	321	(321)	(100.0%)
-	(551)	551	100.0%
25,434	14,902	10,532	70.7%
(440)	(255)	(185)	(72.5%)
(1,037)	279	(1,316)	(471.7%)
68	232	(164)	(70.6%)
24,025	15,158	8,867	58.5%
(7,235)	(4,759)	(2,476)	(52.0%)
16,790	10,399	6,391	61.5%

Revenue from continuing operations

Other revenue (excl. Interest) Employee benefits expense Selling, general & admin expense

Underlying EBITDA Underlying EBITDA % Acquisition costs

Additional termination costs Gain on PV of earnout liability Impairment

EBITDA

Depreciation & amortisation Net interest (expense)/income

Capitalised product development

Profit before tax

Income tax expense

Net profit after tax

About DWS

DWS Limited (DWS) is a professional services company which provides information technology consulting services to large corporate entities and Australian Government agencies. DWS listed on the Australian Securities Exchange on 15th June 2006. ASX code 'DWS'. DWS currently employs over 750 staff and contractors and has offices in Melbourne, Sydney, Brisbane, Adelaide, Canberra, Coolangatta and Perth. More information can be obtained at our website http://www.dws.com.au, or by contacting our head office in Melbourne on [phone].

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DWS

Excellence

Appendix 4E

30 June 2016 DWS Limited

TABLE OF CONTENTS

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 2

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 3

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 4

CONSOLIDATED STATEMENT OF CASH FLOWS 5

NOTES TO THE PRELIMINARY FINANCIAL REPORT 6

DWS Limited

Appendix 4E and Preliminary Final Report For year ended 30 June 2016

[Based on accounts that are currently being audited]

Revenue from continuing

2016

$'000

2015

$'000

Change

$'000 % Change

operations 144,494 94,632 up 49,862 53%

Total comprehensive income for

4.75 cents

3.75 cents

16 March 2016

the year 16,790 10,399 up 6,391 61%

Dividends (distributions)

Dividends paid during the financial year

Amount

per security

Amount

per security

Record Date for

dividend entitlement

Dividend Declared subsequent

to financial year end

5.00 cents 3.75 cents

2 September 2016

2016

2015

Net tangible asset backing per

ordinary security

(4) cents

7 cents

Earnings per share

13 cents

8 cents

DWS Limited - Appendix 4E 2016 Page 1