DWS Limited
2017 Full Year Results Presentation
Introduction - Danny Wallis (CEO) and Stuart Whipp (CFO)
Results Highlights
Full Year Results
Capital Management
Operations Update
DWS Model
Summary and Outlook
Questions
Operating revenue of $137.4 million compared to
$144.5 million in FY16. Decline in revenue due to a number of factors including a decline in contractor numbers (mainly as a result of a decrease in demand from a large IT&C client)
Reported EBITDA of $26.2 million a 3.2% increase
compared to FY16 reported EBITDA of $25.4 million
FY17 underlying EBITDA of $26.99 million ($25.80 million pcp) an increase of 4.6%
EPS of 13.4 cents (12.7 cents in pcp) a 5.5% increase on pcp
Strong performance across all States and Territories that DWS operates in
Continued focus on productivity and managing consultant numbers to match client demand resulted in an improved EBITDA margin of 19% (18% pcp) as well as strong underlying EBITDA for the DWS Limited Group
Balance sheet significantly strengthened with $10.9
million of cash at 30 June 2017 and net debt of
$4.1 million ($13.8 million pcp)
Final fully franked dividend of 5.0 cents per share taking total dividends to 10.0 cents per share for the year representing a 75% pay-out ratio for the year
30 June 2017
$'000
30 June 2016
$'000
Movement
Operating Revenue
137,438
144,494
(7,056)
Gross Margin
33.8%
32.5%
1.3%
EBITDA excluding one-off items
26,992
25,805
1,187
EBITDA Margin
19.6%
17.9%
1.7%
Reported EBITDA
26,243
25,434
809
Reported EPS
13.4 cents
12.7 cents
0.7 cents
FY17 revenue $137.4 million down 4.9% on pcp
H217 revenue impacted by reduction in demand for contractors with corresponding decrease in contractor costs minimising impact on EBITDA
Average utilisation per consultant marginally higher at 84.1% (84% in pcp)
Gross margin increased to 33.8% from 32.5% and underlying EBITDA margin increased to 19.6%
One-off costs of $0.749 million relating to proposed acquisition of SMS
DWS Limited published this content on 14 August 2017 and is solely responsible for the information contained herein.
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