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amaysim Australia Ltd Annual Report 2016




Dear Shareholder

Welcome to this, the first full annual report

for amaysim as a public company. In the

space of six years the Company has gone

from a bold start-up, applying disruptor

thinking to the telecommunications industry,

to Australia’s leading ‘telco in your pocket’

challenger brand. I believe the Company’s

financial performance for the period, since

its listing on the Australian Stock Exchange

in July 2015, speaks to this successful

transition to a significant and profitable


In the past year amaysim has more than

doubled its underyling EBITDA, reflecting

the increase in its subscriber base, and

shown strong profitable growth compared

to the 2015 financial year. In line with this

result, I am pleased to report that the Board

approved an unfranked final dividend of 5.3

cents per share, bringing the total dividend

for the year to 8.3 cents per share, which

reflects a payout ratio of approximately

70% of underlying net profit after taxation

but before amortisation.

amaysim achieved significant organic

growth in its first six years. This was

complemented by the acquisition of Vaya in

January 2016, incorporating a price-fighting

brand into the amaysim Group stable. The

addition of Vaya into the Group created a

further opportunity to capture a greater

share of market segment and customers.

It also gave the Group ownership of the

Vaya Philippines-based operations centre,

growing the Group’s customer service and

development capabilities.

The amaysim Group

is committed to

delivering value to its

shareholders through

sustainable growth and

by leveraging its capital

light, online customer

engagement model.

With a tight-knit team now operating across

Sydney and the Philippines, the importance

of recruiting and developing people, and

retaining the amaysim culture that has

made it such a success, is an important

factor in continuing to deliver for customers

and in sustaining the Company’s growth.

Looking ahead, the amaysim Group’s

strategy is to focus on its subscription-based

revenue model, providing an exceptional

and award-winning customer experience

to its subscriber-base which is underpinned

by industry-leading technology, growing

its dual-brand strategy and continuing to

leverage its Network Services Agreement

with Optus. In addition, the Company will

further increase its relevance in Australian

households by expanding its offering into

broadband. Given its strong balance sheet

and asset-light model, the amaysim Group

is well-placed to deliver on its strategy and

I encourage you to read the Chief Executive

Officer letter on pages 4 to 5 setting out an

overview of the business development.

I would like to take this opportunity to thank

the founders, Rolf Hansen, Peter O’Connell,

Christian Magel, Andreas Perreiter and

Thomas Enge, for bringing amaysim to the

doorstep of the initial public offering. They

remain shareholders and keen supporters

of the management, Julian Ogrin and his

team, who in turn should be congratulated

for successfully managing the Company’s

transition to public life.

Welcome also to our Board of Directors,

whose depth of experience across




marketing, technology and financial services,

has and will continue to add tremendous

value to the Company’s business.

The amaysim Group is committed to

delivering value to its shareholders through

sustainable growth and by leveraging its

capital light, online customer engagement

model. I am pleased to report that the

outlook for the coming year is promising, with

a solid “amazingly simple” brand platform

that clearly differentiates the amaysim

brand in the mobile services market, an

increasingly popular subscription-based

recurring revenue model and a strong,

satisfied customer base on which we can

grow through 2017 and beyond.

Andrew Reitzer