Paragon Care : Full Year Results Investor Presentation FY17

FY17

Full Year Results Presentation

7 August 2017 | PGC.ASX

Record FY17 full year results reflect another strong year of growth with positive outlook for FY18

Revenue

$117.2m

2016: $93.4m up 25%

Net profit after tax

$10.2m

2016: $7.5m up 35%

Operating cash flow

$12.0m

2016: $7.8m up 54%

Gross profit

$46.1m

2016: $36.5m up 26%

EBITDA

$17.1m

2016: $12.1m up 41%

Earnings per share

6.2c

2016: 5.6c up 11%

Dividend per share

1.9c ff

2016: 1.4c up 36%

Cash balance

$18.6m

2016: $19.1m

Net Debt/EBITDA

1.1x

2016: 1.6x down 31%

Record FY17 full year results driven by strong organic growth across all sectors

Financial highlights

• Record full year results across all key metrics

  • Revenue up 25% to $117.2m, driven by strong organic growth and a full year of earnings capture from the FY16 acquisitions of Western Biomedical, Designs for Vision and Meditron

  • EBITDA up 41% to $17.1m, with EBITDA margins improving from 13.0% to 14.6% due to cost synergies and operating leverage

• Earnings per share up 11% to 6.2c, driven by a strong second-half NPAT performance

• Fully franked final dividend of 1.9c, resulting in total dividends for FY17 of 3.0c

  • Total FY17 dividends represent a 49% payout of NPAT (top of stated target payout range), signalling the Company's confidence in future growth and cashflow

Revenue ($m)

1H 2H

EBITDA ($m)

1H 2H

Earnings per share (c)

1H 2H

Dividends per share (c)

1H 2H

117.2

93.4

12.1

17.1

5.6

6.2

32.2

19.4

1.8

3.7

2.0

3.2

1.3

1.4

2.2

3.0

FY14 FY15 FY16 FY17

FY14 FY15 FY16 FY17

FY14 FY15 FY16 FY17

FY14 FY15 FY16 FY17

Strong operating cash flow seen in second half in line with business performance

Operating cashflow of $12.0m, up 54% from FY16

• As guided at the first half results, the business experienced strong operating cashflows of $11m in 2H FY17 due to strong business performance and the absence of one-off factors that impacted 1H results

  Investing cash outflows of $7.9m related to acquisitions

• Midas Software Solutions and Electro Medical Group were acquired during 1H FY17

• Additional payment was also made for the Meditron earn- out to the vendor from prior-year acquisition

Operating activities	12.0	7.8
Investing activities	(7.9)	(57.2)
Financing activities	(4.6)	64.8
Net increase (decrease) in cash	(0.5)	15.4
Closing balance	18.6	19.1

Cash Flow Statement Extract FY17 FY16