FY23 Results Presentation
Cash flow conversion returning to historical levels
•
•
Adjusted Operating Cash Flow of $264.3 million
.
H2 Cash conversion 83.4%
FY23 cash conversion of 72.4% below trend due to lower H1 conversion given
timing of acquisition of Equus, seasonality of US debtors and mobilisation
and ramp up of contracts
Net working capital increased by $93.1m to support the above
FY24 cash conversion will remain above 85% post investing in mobilisation of
known contracts
Investing Activities
•
CAPEX for new contracts and sustaining items - $18.5m
•
•
.
Development of proprietary service delivery platforms - $28.1m
Acquisitions of businesses (Equus & Everyday Independence) - $283.8m
Financing Activities
Drawn debt increased by $265.1m due to business acquisitions
Dividends of $91.7m paid during FY23
Interest and lease costs increased by $34.3m due to business acquisitions
APM
FY23 Results Presentation | August 2023
enabling better lives
Cash Flow A$m
Underlying EBITDA
FY23
365.0
308.0
FY22 Mov't
57.0
Statutory operating cash flow
204.4
217.1 (12.7)
Add: net interest
(1.1)
(0.2) (0.9)
Add: income taxes paid
39.3
28.3
11.C
Add: underlying adjustments
21.7
36.3 (14.6)
Underlying operating cash flow
264.3
281.5
(17.2)
Underlying cash conversion %
72.4%
91.4%
Statutory
Operating cash flow
204.4
217.1 (12.7)
Investing activities
(329.4)
(252.2) (77.2)
Financing activities
60.5
100.9 (40.4)
Net cash movement
(64.5)
65.8 (130.3)
Opening cash flow
171.4
106.8
Net cash movement
(64.5)
65.8
Net FX movements
(1.2)
Closing cash balance
106.8
171.4
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