Corporate Update Gavin Dixon CEO, Reckon Business Division.
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Transcript of Corporate Update Gavin Dixon CEO, Reckon Business Division.
Corporate Update
Gavin Dixon
CEO, Reckon Business Division
2009 Review• QuickBooks 2009 consolidates QBi release
– 29% growth in Enterprise revenue, 7% growth in QuickBooks overall
– 39% market share by Dec 2009
– Good quality of 2009 release
• POS grew market share (38%) – 106% up YoY (MYOB 67% YoY)
– Lots of new features in POS 2010 – excellent opportunity for APs
• QuickBooks Online launched successfully – Over 1000 users signed up in 4 months, 2000 users by end of March 2010
• Encouraging growth in AP and PP memberships• Reckon Docs, Elite improved market share, new offerings• Thank you for your support in 2009
2009 Review• Some process improvements
– Call Centre hours extended to 7pm
– Increased head count in PSG Tech Support
– Voice Of Customer (VOC) survey feedback implemented
– QB 10/11 two beta phases to improve quality assurance
– Early release process implemented• to AP council, APs, PPs and then end-users
– Web site revamps• Enterprise, Partners, Knowledge Browser
Performance Highlights – year ended December 2009
Reckon Group
Operating revenue up 42% to $85.3mEBITDA* up 38% to $26.1mNPAT* up 27% to $14.4m
Professional Division
Operating revenue up 32% to $28.1mEBITDA up 26% to $11.6m
Business Division
Operating revenue up 29% to $49.9mEBITDA up 29% to $15.9m
nQueueBillback
Operating revenue $7.3mEBITDA $2.4m
Trends over last 5 years
Cumm Growth 108% Cumm Growth 159%
Operating rev enue
20 2028
30
42
43.3
010203040
5060708090
2005 2006 2007 2008 2009
$m
Half year Full year
EBITDA
1.5
6.38.3
9.6
13.2
12.9
0
5
10
15
20
25
30
2005 2006 2007 2008 2009$
m
Half year Full year
Key 2010 Strategies
• Leverage QuickBooks 2010 QBi Series release• Broad user acceptance now achieved• Increasing organic growth• Attractive new capabilities and offerings
• Leverage scalability of QuickBooks Enterprise Edition
• Leverage QuickBooks Online service
• Expand Reckon Online offerings for a broader addressable market
• Continue to grow Reckon Docs market share• Add new service offerings
• Take advantage of expanded direct sales team