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Investor Presentaiton

© Citadel Group | Investor Presentation | 12 о Statutory Financial performance For personal use only Statutory Revenue and EBITDA impacted by non-recurring abnormal items $m Total Revenue Gross Profit Gross Profit Margin EBITDA EBITDA Margin FY20 FY19 Change 122.1 99.2 23.1% 50.9 45.0 13.1% 41.7% 45.4% 16.8 23.3 (27.9%) 13.8% 23.5% Depreciation & Amortisation 12.3 8.0 53.8% EBIT 4.6 15.3 (69.9%) Finance Costs NPBT Tax Expense 2.1 1.0 110.0% Revenue $122.1 million > Trading revenue from Enterprise, Health and Professional Services in line with expectations - no material impact from COVID-19 > Technology revenues were impacted in Q4 from reduced university spend, offset by a new contract win of $9.7m in May 2020 ($2.5m revenue recognised) > Reversal of contract asset of $5.7m from FY17/FY18 impacted Professional Services revenue, expected to be settled up to $5.0m in FY21 > Wellbeing trading results in line with expectations, revenue reduced by $0.6m as a result of fair value adjustment to deferred revenue on Wellbeing acquisition Gross margin of 41.7% > Negatively impacted by revenue adjustments above, partially offset by accrued expense reversal of $1.4m 2.5 14.3 (82.5%) > No JobKeeper payments received in FY20 1.5 3.4 (55.9%) NPAT from Continuing Operations 1.0 10.9 (90.8%) EBITDA $16.8 million > Abnormal expenses of $7.5m in respect of acquisition, integration and restructure costs > Full year impact of Gruden and Noventus, part year impact of Wellbeing acquisition > Synergies program in Wellbeing will deliver savings of circa $1.5m in FY21 > Citadel restructure in February 2020 resulted in $2.1m annualised savings, a portion of which will be reinvested back into the business to fund new growth strategies
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