SAI Global Delivers Stronger Results

August 18, 2016
  • NPAT of $53.1m up from $39.3m in FY15, an increase of 35.1%
  • EBITDA of $123.9m, an increase of 19.7% on FY15
  • Underlying NPAT of $58.6m, an increase of 5.3% on FY15
  • Underlying EBITDA of $131.3m, an increase of 4.0% on FY15
  • Increased fully franked dividend of 17 cents
  • New regional operating model in place from 1 July 2015
  • Integrated sales and marketing strategy implemented and beginning to yield results
SAI Global Limited has announced a statutory net profit after tax attributable to shareholders of $53.1 million, up 35.1% from $39.3 million in the previous corresponding period (pcp). Underlying net profit, excluding significant items, was $58.6 million, an increase of 5.3% over the pcp.  

Reduced significant items in FY16 ($7.5m compared to $22.8m in FY15), has resulted in a closer alignment of statutory and underlying EBITDA and NPAT. Excluding significant items, underlying EBITDA for the year increased 4.0% to $131.3 million while “statutory” EBITDA grew 19.7% to $123.9 million. Revenue grew 4.1% to $570.2 million.

The directors have declared a final dividend of 9.5 cents per share fully franked, compared to 9.0 cents per share, partly franked in the pcp. The dividend will be paid on 23rd September 2016 and the record date is 31st August 2016.

 

This has been a busy but challenging year for SAI. We have been working consistently to finalise and consolidate the major change program that has been underway at the company. In our Risk Management Solutions business we have completed the implementation of the new operating structure. As a result of this work we saw momentum building in the final quarter of the year. Our Property business has continued to perform exceptionally well, with increased transaction volumes driving a strong margin improvement. International revenue and earnings benefited from growth across all of our product portfolios, with the exception of Assurance and the class room training component of Learning.

Mr Peter Mullins

Chief Executive Officer, SAI Global

Outlook for FY17

Final quarter results were encouraging and the outlook for FY17 is for growth from each product portfolio.

Internal business targets assume the Australian dollar will remain at or below current levels.

SAI Global is progressing the expression of interest process for the Assurance business. This is a valuable asset that has served SAI Global well and we will only consider a sale if a compelling offer is received. This means that SAI Global is in the fortunate position of being well placed with or without Assurance. In the event of a sale taking place, the Board will update the market with a revised capital management plan.

We will advise on progress at the AGM.

For more details on the FY15/16 results, click here.