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amaysim Australia Ltd Annual Report 2016

5

Our first year as a listed company has been

about staying focused on the mobile-driven

technology disruptor model, continuing

to engage and service customers through

our self-service app and website to create

a truly do-it-yourself ‘telco in your pocket’

experience. This ongoing focus saw amaysim

again awarded the Canstar Blue Customer

Satisfaction Award in the Mobile Phone

Plans – SIMOnly category for its UNLIMITED

one-decision mobile plan range.

This approach is backed by

our strategic

Network

Services

Agreement

(NSA)

with Optus, the terms of which give us a

stable platform which is key for long-term

profitability and competitiveness

. Our

strong and mutually beneficial relationship

with Optus includes a fixed annual review

of pricing, as well as a discretionary price

review throughout the year.

The NSA supports the amaysim Group in

continuing to improve its portfolio of simple,

compelling and commercially sustainable

mobile plans in a dynamic market, allowing

the Company to protect its brand attributes

of BYO, SIM-only no contract mobile

services. For example, more than once in

the last financial year we improved our

plans through increased data allowances

and the addition of international inclusions.

Importantly, the strength of our relationship

with Optus ensures access to future mobile

services technologies as they become

available.

1. NBN Corporate Plan 2016

Expanding

further

into

Australian

households is a key pillar in our business

strategy, and amaysim’s recent move

into broadband provides the Group the

opportunity to capture a greater share of

householdbudget. Driven inpart by customer

demand, the provision of broadband is a

natural extension of our services. In order

to capitalise on the timing of exponential

growth in the National Broadband

Network (NBN) and an upcoming once-in-

a-generation forced churn event which will

see nine million premises ready for NBN

service in FY2018

1

, the Company purchased

Australian Broadband Services Pty Limited

(AusBBS) post 30 June 2016. With this

acquisition amaysim gained access to a

proven proprietary technology platform,

purpose built for broadband. Culturally it

is a great fit with the amaysim business

and I am delighted to welcome the AusBBS

employees to the team.

We believe that the amaysim Group will

continue to benefit from an

asset-light

business model positioned to drive strong

earnings and cash flow growth

. During

the period, we grew our gross profit to

$85.4 million (compared with $59.5 million in

FY2015), and it will continue to be supported

through a strong NSA, growing online

engagement and platform scalability.

In addition to supporting growth, this

business model has seen amaysim deliver

interim and final dividends in its first year of

listed life.

At amaysim we have a fantastic culture

which centres on our four key values of

agility, simplicity, reliability and empathy.

I am delighted to say that we have kept

the focus on these values and our culture

during the year with a strengthened senior

management team through a combination

of internal promotions and select external

senior hires. On that note, I would like to give

a heartfelt thanks to each and every team

member of the amaysim Group for their

hard work during the period and for their

role in delivering a successful set of results,

great customer experience and a dividend to

our shareholders.

Julian Ogrin

Chief Executive Officer