Jumbuck Entertainment Ltd

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Jumbuck Entertainment Ltd
Jumbuck Entertainment Ltd
The world’s leading mobile community provider
2008 Full Year Results
‰ Key Highlights
‰ Financial Highlights
‰ Jumbuck Products for Growth
‰ Summary and Outlook
‰ Additional information
2
K Hi
Key
Highlights
hli ht
‰ Sales Revenue $15.0m up 1%
‰ EBITDAI $
$7.9m up
p 2%
‰ Sales revenue and profit margin stable
‰ Write down in value of investment in Mobileactive (ASX:
MBA)
‰ New products and markets with the Plutolife acquisition
‰ New strength
g in web p
products
Note: EBITDAI is Earnings Before Interest
Interest, Tax
Tax, Depreciation
Depreciation, Amortisation and
Impairment
3
Financial Highlights
4
Financial Highlights
‰ Sales Revenue $15.0m up 1%
p 2%
‰ EBITDAI of $7.9m up
‰ $1.9M impairment write down in value of the 15%
equity stake in Mobileactive
‰ Operating cashflow $5.1m up 7%
‰ Cash balance $6.7m at 30 June 08,, no debt.
‰ Purchase of Plutolife in July 08 for USD3.6M (including
USD0.6M of working capital injection), plus earn out
5
Growing Revenue
SALES REVENUE ($000s)
ACTUAL 2003 -2008
16,000
14,000
12,000
10,000
8,000
‰
Sales Revenue $15.0m
up 1%
‰
Sales Revenue growth
slowed by strength of
AUD
‰
Use of forex currency
option restricted the
USD impact on profit
6,000
4,000
2,000
0
2003/04
2004/05
2005/06
2006/07
2007/08
Financial Year
6
Profitability and margins remain strong
EBITDAI ($000s)
NPAT ($000s)
ACTUAL 2003 -2008
ACTUAL 2003 -2008
9,000
6,000
8,000
5 000
5,000
7,000
4,000
6,000
5,000
3,000
4,000
2 000
2,000
3,000
2,000
1,000
1,000
0
0
2003/04
2004/05
2005/06
2006/07
2007/08
Financial Year
2003/04
2004/05
2005/06
Financial Year
2006/07
2007/08
07/08 NPAT adjusted for
prior year tax of $339K
and impairment of $2.0M
‰ Profit growth
‰ Impairment of investment in Mobileactive (ASX:MBA)
‰ Profit margins remain high
7
Sales Revenue
Sales Revenue by Territory (AUD 000s)
Over 3 years
10000
9000
8000
7000
FY 06
6000
FY 07
5000
FY 08
4000
3000
2000
1000
0
Middle East &
Africa
Asia Pacific
Australia
Europe
The Americas
‰
Strong revenue growth in South America during FY 08
‰
AUD strength versus USD has impacted US revenues over past 36 months
‰
AUD strength versus GBP has impacted UK revenues over past 18 months
‰
Acquisition of WAP3 business in June 06 provided a boost to Europe revenue in FY 07
8
Balance Sheet
‰ Net Assets of $24.2m
g
Assets of $9.8m
‰ Net Tangible
‰ Cash of $6.7m
‰ No debt
‰ Operating cashflow of $5.1m
‰ Plutolife purchased for USD3.6m
USD3 6m in cash post 30 June
2008 (including USD0.6m of working capital injection)
9
J b kO
Jumbuck
Overview
i
10
Our Mission
To become the largest and most profitable supplier of mobile
community and related services globally.
‰ Entering period of mobile content industry consolidation
‰ We have operated to set criteria for potential acquisitions:
‰ Mobile content providers with in-house
in house IP that can be sold throughout Jumbuck’s
Jumbuck s distribution
channel; or
‰ Mobile community providers who dominate Jumbuck’s weaker markets; or
‰ Strong web brands with high revenue growth and usage that can be brought to mobile or iPhone;
and
‰ Avoid businesses that rely mainly on 3rd party IP or branding.
‰ Off-portal,
Off portal, advertising and PSMS monetization becoming increasingly important
to mobile content
‰ Sales focus on emerging markets (BRIC, South America)
11
Existing Products
Sales Revenues By Product
(AUD)
Product
Power Chat
Fast Flirting
Chat del Mundo/Chat do Mundo
Other Products
O ti
Oztion
Total Sales Revenue
FY 2007
$000
Share %
8,588
3,445
791
2,009
0
14,833
57.9
23.2
5.3
13.6
00
0.0
100.0
FY 2008
$000
Share %
8,450
62.6
3,394
14.4
1,573
12.5
1,465
9.8
90
06
0.6
14,972
100.0
%
Change
-1.61
-1.48
98.86
-27.08
0.94
FY 2008 Sales Revenue includes only one month of Oztion
The acquisition of Plutolife occurred after the end of FY 2008
12
Existing Products: New carrier launches in past 6 months
Wind iMode-Italy
Claro- Brazil
Tigo - Colombia
Turkcell - Turkey
Wind WAP-Italy
Oi- Brazil
Tigo - Honduras
MTS - Russia
Movistar -Ecquador
Optimus –Portugal
Claro - Chile
Celtel -Nigeria
Telus -Canadian French
13
Our product range has expanded over the past 6 months
‰ New product developed and launched :
Fastflirting on the web
‰ New
N
products
d t acquired
i d iin JJune 08
08:
Oztion auction site
‰ New products acquired in July 08
Plutolife company: mobiflirt, mobilove, mobimodels
14
New Products-launched
Fast
a Flirting
g Web
b Members
b
40000
30000
20000
10000
0
Feb 14 Mar 5 Mar 25 Apr 14 May 4 May 24 Jun 13 Jul 3 Jul 23 Aug 12
2008 2008 2008 2008 2008 2008 2008 2008 2008 2008
‰ Fast Flirting web beta released to public on 25th Apr 2008.
‰ Currently has 28,500 members and grows by 300 new members per day.
‰ Interoperability with Fast Flirting mobile to be introduced late 2008
‰ Current online marketing for product focused on Australia and UK. US to be included when product moves out of beta in January 2009.
‰ Monetization via advertising to begin early 2009.
Monetization via advertising to begin early 2009
Page 15
New Products-acquired
‰ Australia’s second largest online auction site. Acquired June 2008.
Monthly Revenue (AUD)
100,000
60,000
40,000
20,000
Jul-08
May-08
Mar-08
Jan-08
Nov-07
Sep-07
Jul-07
May-07
Mar-07
Jan-07
‰ Oztion Motors launching late 2008
Nov-06
0
Sep-06
‰ Current
Current marketing focused on classified marketing focused on classified
listings.
80,000
Jul-06
p
g
y %
‰ Membership has grown by 70% over last 12 months and continues to grow by approx. 13% per month.
Items Sold per mth
Total Members
400000
Page 16
Ju
ul-08
Mayy-08
Ma
ar-08
Jan
n-08
Novv-07
Sep
p-07
Ju
ul-07
Mayy-07
Ma
ar-07
Ju
ul-08
Mayy-08
Mar-08
Jan
n-08
Novv-07
Sep
p-07
Ju
ul-07
Mayy-07
Mar-07
Jan
n-07
Novv-06
Sep
p-06
Ju
ul-06
0
Jan
n-07
100000
Novv-06
200000
Sep
p-06
300000
Ju
ul-06
100,000
80,000
60,000
40,000
20,000
0
New Products-acquired
‰
Strong mobile dating brand built in home
Scandinavian market with operators such
as Telenor,
T l
T li Sonera,
Telia
S
T l 2 Vodafone
Tele2,
V d f
‰
Rapid growth and uptake of products
outside of home market…USA, South
America Asia
America,
‰
Now has 44 branded positions on operator
WAP portals
‰
Team off 15
‰
Profitable, with annualised revenues of
AUD3.5Million currently
17
Current Products
This is an SMS based mobile speed dating game based upon
the popular American dating TV shows such as The Love
ConnectionTM.
Mobiflirt pits up to 50 players against each other for the heart
of one lucky “single”!
Mobile dating service available in SMS, WAP, JAVA, XML and iMode, allowing users to enter group or private chat sessions
with users who meet their search requirements
Mobimodels is a simple and fun picture rating service where
members vote on who is the hottest in the picture community. It
is available in WAP and MMS/SMS format
18
Our customer base grows….
B f
Before
Plutolife
Pl t lif acquisition
i iti
North America
Admob
Alltel
AT&T
Bell Mobility
Boost
Cellmania
Cingular
LavaLife Corp
Midwest Wireless
M th
Mythum
Nextel
nTelos
Central & South America
OpenMarket
Rogers
Sprint
Suncom
Telcel Mexico
Telus Mobility
T-Mobile US
Verizon Wireless
Virgin Mobile US
Vi i M
Virgin
Mobile
bil C
Canada
d
Wmode
Western Wireless
Atech (Chile)
Alterlatina Eirl
Codetel (Dominican
Republic)
Equipos Telemo
(Venezuela)
3G one (Panama)
IUSACELL (Mexico)
Movistar (Argentina)
Movistar (Chile)
Movistar (Columbia)
Movistar (El Salvador)
Movistar (Ecuador)
Movistar (Guatemala)
Movistar (Nicaragua)
Movistar (Panama)
Movistar (Venezuela)
OIL(Brazil)
Satelnet (Ecuador)
Telecommunications
Movinet (Venezuela)
TIM (Brazil)
Verizon Wireless (Puerto
Rico)
Verizon Wireless
(Domenican Republic)
Vivo (Brazil)
Africa & Middle East
Europe
Axiom (UAE)
Exact Mobile (South Africa)
Pelephone (Israel)
Base (Belgium)
Bouygues (France)
Eplus (Germany)
Jamba (Germany)
Interaktif Medya(Turkey)
KPN (Netherlands)
Kyvistar (Ukraine)
Red Pyramid (Russia)
O2 (Germany)
O2 (UK)
Orange (Poland)
Orange (Spain)
O ti
Optimns
(Portugal)
(P t l)
Promonte (Poland)
SFR (France)
Shamrock (Russia)
Asia
Australia & New Zealand
Hutchison CAT (Thailand)
Hutchison Telecommunications (3) (Australia)
Optus Mobile (Australia)
Telstra (Australia)
Telecom (NZ)
Vodafone (NZ)
Pl t lif acquisition
Plutolife
i iti
North America
Central & South America
Virgin Mobile USA
Alltel
AT&T
T Mobile USA
Virgin Mobile Canada
Telus Mobility
Mythum
Ericsson IPX
Movistar (Chile) through
Scandinavian Service
Africa & Middle East
Europe
Telenor (Norway)
Telenor (Sweden)
Sonofon (Denmark)
Netcom (Norway)
Tele2 Norge (Norway)
Chess (Norway)
Ventelo (Norway)
Hutchison 3 (Scandinavia)
Tele2 Sweden
Telia (Sweden)
Halebop (Sweden)
Tele2Tango (Sweden)
DJuice (Norway)
Telia (Denmark)
TDC (Denmark)
BITE (Lithuania)
Omnitel (Lithuania)
Tele2 Lithuania
Sonera (Finland)
DNA Finland
TietoEnator (Finland)
Elisa (Finland)
Saunalahti (Finland)
TMN PT(Portugal)
T-Mobile (Austria)
T-Mobile (Croatia)
T-Mobile (Germany)
T-Mobile (Poland)
T-Mobile (UK)
TDC (Switzerland)
TDC (France)
Telefonica (Spain)
Telering (Austria)
TIM (Italy)
Voxmobile (Luxembourg)
V d f (Portugal)
Vodafon
(P t l)
Wind (Italy)
Wmode (Swizerland)
Asia
Australia & New Zealand
19
Jumbuck
J
b kS
Summary
and
d Outlook
O tl k
20
Summary and Outlook
1. We now have a much wider product base
2. Drive revenue growth from new products
3. Increase revenue from off deck products
4. New product innovation
5. M&A
21
Additional Info
22
Top 20 Shareholders
Shareholder
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Sieana Pty Ltd
Quad Holdings Pty Ltd
d ld
d
National Nominees Ltd
Mr Adrian Paull Risch
Invia Custodian Pty Ltd <Black A/C>
CTS Group Nominees Pty LtdD
XS Equities Pty Ltd
Beconwood Superannuation Pty Ltd <WSF A/C>
J P Morgan Nominees Australia Ltd
Repysa Holdings Inc
ANZ Nominees Ltd <Cash Income A/C>
Mr Kenneth William Breese & Mrs Jennifer Ruth Breese <BPD Executive Superfund A/C>
y
Kennadell Pty Ltd
Mr Stan Loucas
Jeff Kennett Pty Ltd < JGK Superfund A/C>
Denman Investments Limited
Mr Philip Druce <Druce Family A/C>
Mr Kelvin Kai Yin Yip & Mrs Nanae Katono
Lubeme Services Pty Ltd <Dwyer
Lubeme Services Pty Ltd Dwyer Super Fund A/C
Super Fund A/C>
Cogent Nominees Pty Ltd
Top 20 holders of Ordinary Fully Paid Shares as at 5 August 2008
Balance of shareholders
Total shares on issue at 5 August 2008
No of shares held
5,385,270
4,408,334
3,349,424
2,495,333
2,364,863
2,330,745
2,000,000
1,937,642
1,695,589
1,038,358
1,020,293
887,506
655,557
,
502,510
479,935
479,165
445,148
445,148
424,200
410,527
32,755,547
16,895,733
49,651,280
% of Issued
Capital
10.85
8.88
6.75
5.03
4.76
4.69
4.03
3.90
3.41
2.09
2.05
1.79
1.32
1.01
0.97
0.97
0.90
0.90
0.85
0.83
65.98
34.02
100.00
23
Shareholdings:
Data taken as at 14 Aug 08
ASX Code:
JMB
Current Share Price:
$0.62 at 14th Aug 08
Number of shares on issue at 14th Aug: 49,651,280
Number of share options in issue:
2,785,002
Market Capitalisation (undiluted) :
$30.8Million
Substantial Shareholders
Shareholder
No of securities held
% held as per substantial
shareholder notice
Sieana Pty Ltd
5,385,270
11.21
Quad Holdings Pty Ltd
4,676,221
9.74
LJM Investment Group Pty Ltd
5,120,701
10.66
Acorn Capital Ltd
3,752,300
7.81
Adam Smith Asset Management
2,669,327
5.56
Adrian Paull Risch
2,660,000
5.48
24
BOARD
‰ Kevin Campbell
Non-executive Chairman
‰ Bruce Bennie
Non-executive Director
‰ The Hon. Jeffrey Kennett
Non-executive Director
‰ Tom Kiing
Non-executive Director
‰ Adrian Risch
Executive Director / CEO
25
Appendices
26
Financial Detail (i)
Year ended 30 June
(AUD '000)
2004
Year
2005
Year
2006
Year
2007
Year
2008
Year
2,929
7,059
11,246
14,833
14,972
EBITDAI
910
3 683
3,683
6 320
6,320
7 705
7,705
7 873
7,873
Less:
Depreciation and Amortisation
Impairment
-68
0
-573
0
-840
0
-1,088
0
-1,423
-2 046
-2,046
EBIT
842
3,110
5,480
6,617
4,404
0
65
261
374
458
EBT
842
3,175
5,741
6,991
4,862
Tax
NPAT
55
897
-473
2,702
,
-1,441
4,300
,
-1,995
4,996
,
-2,154
2,708
,
Sales Revenue
Interest
*
* One off impairment in value of minority investments (non cash)
27
Financial Detail (ii)
Year ended 30 June
(AUD '000)
2004
Year
2005
Year
2006
Year
2007
Year
2008
Year
EBITDAI M
Margin
i (%)
30 5
30.5
52 2
52.2
56 2
56.2
51 9
51.9
52 6
52.6
EBIT Margin (%)
28.2
44.1
48.7
44.5
43.1 *
Profit Before Tax Margin (%)
28.2
45.0
51.0
47.1
46.1 *
NPAT Margin (%)
30.0
38.3
38.2
33.6
31.7 *
2.6
6.3
9.3
10.3
9.9 *
EPS (cents)
* Excluding one-off Impairment in Value of Investment of $2.0million
28
BALANCE SHEET
Financial Detail
((iii))
Current assets
Cash
Receivables
Other
Jun-07
Jun-08
(AUD '000)
(AUD '000)
9,225
4,298
75
6,710
4,263
355
Total current assets
13,598
11,328
Non-current assets
Property, plant and equipment
Other financial assets
Intangible assets
Deferred tax asset
723
245
11 004
11,004
145
822
1,138
14 386
14,386
80
Total non-current assets
12,117
16,426
Total assets
25,715
27,754
Current liabilities
Payables
Current tax liabilities
Provisions
Other
Total current liabilities
(854)
(1,298)
(1,418)
(173)
(3,743)
(2,154)
0
(180)
(374)
(2,708)
(468)
0
(468)
(848)
(24)
(872)
Total liabilities
(4 211)
(4,211)
(3 580)
(3,580)
Net assets
21,504
24,174
Equity
Issued Capital
Retained earnings
g
Reserves
9,354
12,032
118
9,034
14,739
401
Total equity
21,504
24,174
Non-current liabilities
Deferred tax liabilities
Other
Total non-current liabilities
29
CONTACT DETAILS
Adrian Risch
CEO
Tel:
+61 3 9620 3839
a
+61
6 3 96
9620
0 38
3840
0
Fax:
Mobile: +61 400 787 995
Email:
[email protected]
Mark Doughty
CFO
Tel:
+61 3 9620 3839
a
+61
6 3 96
9620
0 38
3840
0
Fax:
Email:
[email protected]
Kevin Campbell
Chairman
Tel:
+61 3 9620 3839
Fax:
+61 3 9620 3840
Mobile: +61 418 277 777
Email:
[email protected]
C
Corporate
t W
Website:
b it
www.jumbuck.com
j b k
30
Intention of this Document
This document is intended to be provided by Jumbuck Entertainment Ltd (JMB) to the Australian Stock Exchange
((ASX)) for public
p
release in the spirit
p of full disclosure and in accordance with the Company’s
p y continuous
disclosure obligations.
It is intended that this document be read in conjunction with all other announcements made to the ASX and in
particular, the statements of financial performance by JMB.
IInvestors
t
should
h ld nott actt or refrain
f i from
f
acting
ti in
i sole
l reliance
li
on this
thi presentation
t ti material.
t i l This
Thi overview
i
off JMB
does not purport to contain all information which investors may require in order to make an informed assessment
of JMB’s prospects.
The presentation may contain certain financial forecasts and other material of a forward looking nature in relation
t JMB (Forward
to
(F
d Looking
L ki Material).
M t i l) Such
S h Forward
F
d Looking
L ki M
Material
t i l iis b
based
d on many assumptions
ti
and
d iis
subject to uncertainties and contingencies many of which are outside the control of JMB.
31

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