DWS : 2017 Full Year Results Announcement and Appendix 4E

DWS Limited (and Controlled Entities) ACN 085 656 088

RESULTS ANNOUNCEMENT TO THE MARKET

2017 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 2017:

• Revenue from continuing operations of $137.4M (down $7.06M or 4.9% from the prior corresponding period (pcp));

• Underlying EBITDA of $26.9M (up $1.2M or 4.6% on pcp);

• NPAT of $17.7M (up $0.9M or 5% on pcp);

• Cash flow from operations (before interest and tax) 120% of EBITDA;

• DWS' balance sheet remains strong and liquid with gross cash of $10.9M;

• Bank debt decreased by $9M to $15M ($24M pcp);

• Final fully franked dividend of 5.00 cents per ordinary share declared;

  • Final Dividend 5.00 cents per ordinary share

  • Record Date 4 September 2017

  • Expected Payment Date 2 October 2017

• Billable consultant capacity continues to be managed tightly to match client demand. Total billable consultants as at 30 June 2017: 596 (June 2016: 715);

• Strong performance across all States and Territories that DWS operates in;

• Symplicit contributed positively to the DWS Limited Group result.

2017 $000's	2016 $000's	Change Change $000's %
137,438	144,494	(7,056)	(4.9%)
507	1,263	(756)	(59.9%)
(105,404)	(114,181)	8,777	7.7%
(5,549)	(5,771)	222	3.8%
26,992	25,805	1,186	4.6%
20%	18%
-	(371)	371	100.0%
(749)	-	(749)	(100.0%)
26,243	25,434	809	3.2%
(581)	(440)	(141)	(32.0%)
(587)	(1,037)	450	(43.4%)
75	68	7	10.3%
25,150	24,025	1,125	4.7%
(7,481)	(7,235)	(246)	(3.4%)
17,669	16,790	879	5.2%

Revenue from continuing operations

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

Underlying EBITDA

Underlying EBITDA % Acquisition costs M&A costs

EBITDA

Depreciation, amortisation & impairment 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 640 staff and contractors and has offices in Melbourne, Sydney, Brisbane, Adelaide, Canberra and Coolangatta. More information can be obtained at our website http://www.dws.com.au, or by contacting our head office in Melbourne on [phone].

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 2017

5.00 cents

4.75 cents

16 March 2017

[Based on accounts that are currently being audited]

2017 $'000	2016 $'000	Change $'000	% Change
Revenue from continuing operations	137,438	144,494	down	(7,056)	-4.9%
Total comprehensive income for the year	17,669	16,790	up	879	5.2%

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 5.00 cents

2 September 2017

2017

2016

Net tangible asset backing per

ordinary security

(1) cents

(4) cents

Earnings per share

13.4 cents

12.7 cents

DWS Limited - Appendix 4E 2017 Page 1