Analyst Briefing: Results for 14 months to 31 Aug 09

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Two significant events occurred in the period under review that are pertinent to the understanding of the financial statements presented. The first was the change in accounting year-end from 30 June to 31 August, resulting in the company reporting on the 14 month period ended 31 August 2009. The second was the change in functional and presentation currency from Zimbabwe Dollars to United States Dollars following the liberalisation of the foreign currency markets on 1 February 2009...

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Analyst Briefing: Results for 14 months to 31 Aug 09

  1. 1. Analyst Briefing FY2009 Year-end Results
  2. 2. <ul><li>INCOME STATEMENT </li></ul><ul><li>US$ </li></ul><ul><li>Turnover 710,000 </li></ul><ul><li>Gross Margin 100,000 </li></ul><ul><li>Total expenses (830,000) </li></ul><ul><li>Loss before taxation (730,000) </li></ul><ul><li>Taxation 200,000 </li></ul><ul><li>Loss after tax (530,000) </li></ul>
  3. 3. <ul><li>Turnover by Division </li></ul><ul><li>US$ % </li></ul><ul><li>Turnover 710,000 100 </li></ul><ul><li>Comms 470,000 66% </li></ul><ul><li>Print 125,000 18% </li></ul><ul><li>IT Software 85,000 12% </li></ul><ul><li>IT Hardware 30,000 4% </li></ul>
  4. 4. <ul><li>Balance Sheet </li></ul><ul><li> US$ </li></ul><ul><li>PPE 690,000 </li></ul><ul><li>Deferred tax asset 120,000 </li></ul><ul><li>Current assets 220,000 </li></ul><ul><li>Total Assets 1,030,000 </li></ul><ul><li>Capital and reserves 160,000 </li></ul><ul><li>Shareholder loan 590,000 </li></ul><ul><li>Current liabilities 280,000 </li></ul><ul><li>Total Equity & Liabilities 1,030,000 </li></ul>
  5. 5. Operations Report <ul><li>Banking Sector Problems </li></ul><ul><li>Decline in cheque book usage </li></ul><ul><li>Cessation of ATM usage </li></ul><ul><li>Celsys Response </li></ul><ul><li>Recapitalised Celsys Print to grow </li></ul><ul><li>commercial printing services. </li></ul><ul><li>Increased technical skills base </li></ul><ul><li>Introduced new DIEBOLD feature rich ATMs in anticipation of market changes. </li></ul>
  6. 6. Operations Cont…. <ul><li>Tele-Comms Industry Problems </li></ul><ul><li>Sub-economic payphone tariffs pre-dollarisation </li></ul><ul><li>Increased use of EVD </li></ul><ul><li>Stiff competition, low margins </li></ul>
  7. 7. Operations cont… <ul><li>Celsys Response </li></ul><ul><li>Introduced a value-added </li></ul><ul><li>approach to airtime distribution </li></ul><ul><li>(e.g. Coca Cola </li></ul><ul><li>promotion) </li></ul>
  8. 8. Operations cont… <ul><li>Diversified product range to meet market needs: HTC Smart phones, POS devices </li></ul><ul><li>Redeploying Payphones </li></ul>
  9. 9. Outlook <ul><li>Post Balance Sheet Period </li></ul><ul><li>Increasing revenue month on month </li></ul><ul><li>Operating losses month on month reducing </li></ul><ul><li>Additional printing presses commissioned, increased capacity </li></ul><ul><li>POS devices ready for deployment to customer </li></ul><ul><li>40 new mobile payphones and EVD devices ready for deployment, 300 old units in the market and an additional 200 old units in stores </li></ul><ul><li>First 10 Diebold ATMs shipped, expected Jan 2010 </li></ul>
  10. 10. Outlook cont… <ul><li>2009/2010 Current Forecast </li></ul><ul><ul><li>Revenue US$ 5 000 000 </li></ul></ul><ul><ul><li>Gross margin (30%) US$ 1 500 000 </li></ul></ul><ul><ul><li>PBT (6%) US$ 300 000 </li></ul></ul>
  11. 11. QUESTIONS? Thank You

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