Page 28 - OneVue Annual Report 2015

Performance compared with the Prospectus Forecast

Year ended 30 June ($’000) 2015 2015 Change %
Actual Prospectus
Revenue (9%)
Fund Services 7,502 Forecast 58%
Platform Services 17,878 (89%)
Other revenue and income 8,257 27%
Total revenue and other income 44 11,340 (26%)
Operating expenses 25,424 56%
EBITDA 24,720 403
Depreciation & amortisation 20,000 1%
EBIT 704 19,550 16%
Interest income (2,179) (73%)
Non recurring expenses (1,475) 450 (69%)
Profit (loss) before tax (2,191) (6%)
Tax (49) (1,741) 129%
Net profit (loss) after tax 623 81%
(2,049) (185)
1,829 368
(220) (1,924)
800
(1,124)

The current year EBITDA of $0.7 million was 56% Interest income was $0.1 million or 73% lower than
higher than the prospectus forecast of $0.5 million. forecast due to lower than expected interest rates
and the funding of acquisitions.
Total revenue was $5.4 million or 27% ahead of the
prospectus forecast. This was primarily driven by Non recurring expenses were $0.3 million or 69%
Platform Services with the benefits from the Select higher than expected due to costs associated with
acquisition and full year revenues for MAP and SMSF new acquisitions.
Managers, both prior year acquisitions. There was
also organic growth through intermediaries and SMSF The tax benefit was $1 million or 129% favourable to
from white label relationships. forecast due to the research and development tax
benefit for innovation development being $0.2 million
Total operating expenses were $5.2 million or 26% higher and the recognition of $0.8 million of tax
higher than the prospectus forecast due to the costs losses offsetting the deferred tax liability on the Select
associated with the acquisitions and the higher cost acquisition.
structure in Funds Services incurred ahead of
anticipated growth. Net profit after tax was $0.9 million or 81% ahead of
prospectus forecast.

28 – ONEVUE ANNUAL REPORT