Presentation Currency & Historical Information

EBOS Group Limited. NZBN 9429031998840
Level 7, 737 Bourke Street, Docklands, Victoria 3008, Australia. PO Box 7300, Melbourne, Victoria 8004,
Australia.
Phone: +61 3 9918 5555, Fax: +61 3 9918 5599.
www.ebosgroup.com





25 January 2019

NZX/ASX Code: EBO


PRESENTATION CURRENCY CHANGE – HISTORICAL INFORMATION

On 23 August 2018, EBOS Group Limited (EBOS) announced that it had changed its
presentation currency from New Zealand dollars to Australian dollars.

The attached presentation sets out EBOS’ historical results for the financial years 2014,
2015, 2016, 2017 and 2018 expressed in Australian dollars. This information is being
provided to investors to assist them in comparing EBOS’ historical and future financial
results.


Janelle Cain
General Counsel
EBOS Group Limited

PRESENTATION CURRENCY CHANGE
Historical Financial Information

2
DISCLAIMER
The information in this presentation was prepared by EBOS Group Limited with due care and attention. However, the information is
supplied in summary form and is therefore not necessarily complete, and no representation is made as to the accuracy, completeness or
reliability of the information. In addition, to the maximum extent permitted by law, neither the EBOS Group nor any of its subsidiaries,
directors, employees, shareholders nor any other person shall have liability whatsoever to any person for any loss (including, without
limitation, arising from any fault or negligence) arising in connection with this presentation or any information supplied in connection
with it.
Except as required by law or NZX or ASX listing rules, EBOS is not obliged to update this presentation after its release, even if things
change materially. This presentation does not constitute financial advice. Further, this presentation is not and should not be construed as
an offer to sell or a solicitation of an offer to buy EBOS Group securities and may not be relied upon in connection with any purchase of
EBOS Group securities.
This presentation contains a number of non-GAAP financial measures, including Gross Operating Revenue, EBIT, EBITDA, Underlying
EBITDA, NPAT, Underlying NPAT, Underlying EPS, Free Cash Flow, Net Debt and Return on Capital Employed. Because they are not defined
by GAAP or IFRS, EBOS’ calculation of these measures may differ from similarly titled measures presented by other companies and they
should not be considered in isolation from, or construed as an alternative to, other financial measures determined in accordance with
GAAP. Although EBOS believes they provide useful information in measuring the financial performance and condition of EBOS' business,
readers are cautioned not to place undue reliance on these non-GAAP financial measures.
The information contained in this presentation should be considered in conjunction with the consolidated annual financial statements
for the periods ended 30 June 2014, 30 June 2015, 30 June 2016, 30 June 2017 and 30 June 2018.
All currency amounts are in Australian dollars unless stated otherwise.

3
GLOSSARY OF TERMS AND MEASURES
TermDefinition
Actual resultsUnaudited resultstranslated into Australian dollars at the applicable actual monthly exchange rates ruling in each period.The
assets andliabilities presented in Australian Dollars have been translated at the exchange rate at the relevant reporting dat.
Income and expenses have been translated at the average rates for the period.
Debtor daysTrade debtors at the end of period divided by Revenue for the period, multiplied by number of days in the period.
Inventory daysInventory at the end of period divided by Cost of Sales for the period, multiplied by number of days in the period.
Creditor daysTrade creditors at the end of period divided by Cost of Sales for the period, multiplied by number of days in the period.
RevenueRevenue from the sale of goods and the rendering of services.
Gross Operating
Revenue (GOR)
Revenue less cost of sales and the write-down of inventory.
EBITEarnings before interest and tax.
EBITDAEarnings before interest, tax, depreciation and amortisation.
Underlying EBITDAEarnings before interest, tax, depreciation, amortisation and adjusted for the effects of non-recurring items.
NPATNet Profit After Tax attributable to the owners of the company.
Underlying NPATNet Profit After Tax attributable to the owners of the company and adjusted for the effects of non-recurring items.
Free Cash FlowCash from operations less capital expenditure net of proceeds from disposals.
Earnings per share
(EPS)
Net Profit after tax divided by the weighted average number of shares on issue during the periodin accordance with IAS 33
‘Earnings per share’.
Underlying EPSUnderlying NPAT divided by the weighted average number of shares onissue during the period.
Net Debt : EBITDARatio of net debt at period end to the last 12 months EBITDA, adjusting for pre acquisition earnings of entities acquired.
Return on Capital
Employed (ROCE)
Measured as underlying earnings before interest, tax and amortisation of finite life intangibles for 12 months divided by closing
capital employed(including a pro-rata adjustment for entities acquired and excluding amounts for significant capital projects
yet to complete and strategicinvestments).
Except where noted, common terms and measures used in this document are based upon the following definitions:

4
GROUP INCOME STATEMENT AND RATIOS
Note 1: Net profit after tax and non-controlling interests.
Note 2: Dividends per share in Australian dollars have been restated using the average exchange rate for the year.
Note 3: Calculated on an underlying basis that excludes transaction costs in relation to significant acquisitions undertaken in FY17.
FY14FY15FY16FY17FY18H1 FY18FY14FY15FY16FY17FY18H1 FY18
Statutory Results
Revenue5,217.5 5,621.5 6,540.8 7,203.2 6,986.7 3,595.2 5,757.2 6,068.1 7,101.5 7,625.9 7,609.5 3,942.7
Gross Operating Revenue512.8 556.1 622.9 703.8 786.6 396.5 565.9 600.2 676.5 745.3 856.6 434.8
EBITDA158.9 182.3 207.7 221.5 250.1 126.3 175.4 196.7 225.5 234.4 272.4 138.5
Depreciation9.2 11.2 11.9 12.9 16.2 8.1 10.2 12.1 12.9 13.6 17.7 8.9
Amortisation11.3 11.1 10.8 11.5 15.7 7.6 12.4 12.0 11.8 12.2 17.1 8.4
EBIT138.4 160.0 184.9 197.1 218.2 110.5 152.8 172.6 200.8 208.6 237.6 121.2
Net Finance Costs24.5 20.3 18.5 18.0 20.9 9.8 27.1 21.9 20.1 19.0 22.7 10.7
Profit Before Tax113.9 139.7 166.5 179.1 197.3 100.7 125.8 150.7 180.7 189.6 214.9 110.5
Tax expense30.4 41.5 49.5 53.6 58.0 30.1 33.7 44.7 53.7 56.7 63.2 33.1
Outside Equity Interest- - - (0.4) 2.0 0.7 - - - (0.4) 2.2 0.8
Net Profit After Tax
1
83.5 98.2 117.0 125.9 137.3 69.9 92.1 105.9 127.0 133.3 149.6 76.7
Statutory EPS - cps56.9 65.6 77.4 83.0 90.4 46.0 62.8 70.8 84.0 87.8 98.5 50.5
Dividends per share
2
37.1 43.6 53.9 59.5 62.9 30.1 41.0 47.0 58.5 63.0 68.5 33.0
Underlying EBITDA
3
158.9 182.3 207.7 228.2 250.1 126.3 175.4 196.7 225.5 241.4 272.4 138.5
Underlying NPAT
3
83.5 98.2 117.0 130.9 137.3 69.9 92.1 105.9 127.0 138.6 149.6 76.7
Underlying EPS - cps
3
56.9 65.6 77.4 86.3 90.4 46.0 62.8 70.8 84.0 91.3 98.5 50.5
Return on Capital Employed12.4%14.2%15.8%16.3%15.8%16.4%12.8%13.7%16.4%16.4%15.8%16.1%
Net Debt295.0 283.1 236.8 413.3 432.5 407.0 316.3 316.9 247.6 434.7 471.1 447.5
Net Debt : EBITDA1.93x1.59x1.18x1.80x1.74x1.73x1.88x1.65x1.14x1.79x1.74x1.76x
A$mNZ$m

5
HEALTHCARE SEGMENT
A$mFY14FY15FY16FY17FY18H1 FY18FY14FY15FY16FY17FY18H1 FY18
Healthcare
Revenue4,910.4 5,273.5 6,158.8 6,803.3 6,608.6 3,405.7 5,418.4 5,692.9 6,686.4 7,202.7 7,197.6 3,734.7
EBITDA138.6 157.6 179.6 197.3 216.6 109.4 153.1 170.2 195.0 208.8 235.9 120.0
EBIT121.3 138.6 160.3 176.9 188.5 95.5 134.0 149.7 174.1 187.1 205.2 104.8
EBITDA%2.82%2.99%2.92%2.90%3.28%3.21%2.82%2.99%2.92%2.90%3.28%3.21%
Australia
Revenue3,801.9 4,082.4 4,858.3 5,437.6 5,197.8 2,705.8 4,195.9 4,408.4 5,273.8 5,756.8 5,661.7 2,967.2
EBITDA111.3 127.3 143.0 155.7 174.3 88.4 122.9 137.5 155.3 164.7 189.8 96.9
EBIT96.4 110.4 125.7 137.3 148.2 75.5 106.4 119.3 136.5 145.2 161.4 82.8
EBITDA%2.93%3.12%2.94%2.86%3.35%3.27%2.93%3.12%2.94%2.86%3.35%3.27%
New Zealand
Revenue1,108.5 1,191.1 1,300.5 1,365.7 1,410.7 699.9 1,222.4 1,284.5 1,412.6 1,445.9 1,535.9 767.5
EBITDA27.4 30.3 36.6 41.6 42.3 21.0 30.2 32.7 39.8 44.1 46.1 23.1
EBIT24.9 28.2 34.6 39.6 40.2 20.0 27.5 30.4 37.6 41.9 43.8 22.0
EBITDA%2.47%2.54%2.82%3.05%3.00%3.01%2.47%2.54%2.82%3.05%3.00%3.01%
A$mNZ$m

6
SEGMENT AND DIVISIONAL INFORMATION
Note¹: Contract Logistics GOR % not relevant as sales activity is predominantly done on consignment.
A$m FY14FY15FY16FY17FY18H1 FY18FY14FY15FY16FY17FY18H1 FY18
Animal Care
Revenue307.1 348.0 382.0 399.9 378.2 189.6 338.9 375.2 415.0 423.2 411.9 207.9
EBITDA26.7 34.6 39.0 42.2 45.7 22.2 29.4 37.1 42.3 44.7 49.8 24.3
EBIT23.5 31.2 35.5 38.9 42.4 20.5 25.9 33.5 38.6 41.2 46.2 22.5
EBITDA%8.7%9.9%10.2%10.6%12.1%11.7%8.7%9.9%10.2%10.6%12.1%11.7%
A$mNZ$m
A$m FY14FY15FY16FY17FY18H1 FY18FY14FY15FY16FY17FY18H1 FY18
Pharmacy
Revenue3,074.0 3,257.3 3,598.1 3,950.1 3,870.7 2,018.2 3,392.5 3,516.3 3,907.8 4,181.9 4,215.9 2,213.0
GOR265.6 288.1 306.2 351.4 376.7 193.1 293.2 311.2 332.6 372.2 410.2 211.7
GOR%8.6%8.8%8.5%8.9%9.7%9.6%8.6%8.8%8.5%8.9%9.7%9.6%
Institutional Healthcare
Revenue1,521.9 1,648.0 2,058.7 2,347.0 2,250.6 1,148.2 1,678.8 1,779.5 2,233.4 2,484.5 2,451.2 1,259.4
GOR98.4 103.9 127.4 145.8 197.0 98.5 108.5 112.1 138.2 154.3 214.4 108.0
GOR%6.5%6.3%6.2%6.2%8.8%8.6%6.5%6.3%6.2%6.2%8.7%8.6%
Contract Logistics¹
Revenue284.2 346.3 455.7 457.6 443.2 217.0 313.2 373.4 495.0 484.9 482.4 238.0
GOR46.4 50.3 55.7 57.1 59.7 29.5 51.1 54.2 60.5 60.5 65.0 32.4
Consumer Products
Revenue53.6 57.0 79.6 99.6 108.6 54.4 59.2 61.5 86.4 105.4 118.3 59.6
GOR22.9 23.9 34.3 40.2 42.4 20.4 25.2 25.8 37.2 42.5 46.2 22.4
GOR%42.6%42.0%43.1%40.3%39.1%37.6%42.6%42.0%43.1%40.3%39.1%37.6%
A$mNZ$m

7
WORKING CAPITAL
Note 1: Cash conversion days are adjusted for the Group’s 3PL debtors and creditors arising from its hepatitis C business.
A$m FY14FY15FY16FY17FY18H1 FY18FY14FY15FY16FY17FY18H1 FY18
Net Working Capital
Trade receivables641.8 703.9 1,246.3 965.2 892.2 934.7 687.3 787.9 1,302.8 1,015.1 971.8 1,027.6
Inventory458.6 463.0 553.4 543.9 535.1 565.1 491.6 518.3 578.5 572.0 582.9 621.3
Trade payables/other(789.5) (872.3) (1,567.6) (1,287.1) (1,196.4) (1,280.7) (845.5) (976.4) (1,638.8) (1,353.7) (1,303.3) (1,408.0)
Total310.9 294.6 232.1 222.0 230.8 219.1 333.4 329.8 242.6 233.4 251.4 240.9
Cash conversion days
1
Debtor days45 46 43 41 41 42 45 45 42 41 41 41
Inventory days35 33 30 31 32 33 35 33 29 30 32 33
Creditor days55 56 59 57 58 59 55 56 58 57 58 59
Cash conversion days25 23 14 15 15 15 25 22 13 14 15 15
A$mNZ$m

8
CASH FLOW
FY14FY15FY16FY17FY18H1 FY18FY14FY15FY16FY17FY18H1 FY18
EBITDA158.9 182.3 207.7 221.5 250.1 126.3 175.4 196.7 225.5 234.4 272.4 138.5
Net interest paid(24.5) (20.3) (18.5) (18.0) (20.9) (9.8) (27.1) (21.9) (20.1) (19.0) (22.7) (10.7)
Tax paid(26.6) (49.2) (50.2) (61.8) (60.0) (28.0) (29.6) (53.0) (54.5) (65.4) (65.3) (30.6)
Net working capital and other movements(4.2) 10.9 67.5 (5.5) (7.1) 3.4 (4.6) 12.0 73.2 (6.1) (8.2) 4.5
Cash from Operating activities103.6 123.7 206.5 136.2 162.1 91.9 114.2 133.8 224.1 143.9 176.2 101.7
Capital expenditure (net)(30.9) (13.7) (11.5) (35.5) (58.0) (28.7) (34.0) (15.0) (12.4) (37.4) (63.2) (31.5)
Free Cash Flow72.7 110.0 195.0 100.7 104.1 63.2 80.2 118.8 211.7 106.5 112.9 70.2
Acquisitions and investments(325.6) (56.8) (84.1) (174.7) (30.8) (11.8) (370.4) (64.1) (92.1) (184.1) (33.6) (13.2)
Shares issued142.5 - - - - - 162.1 - - - - -
Dividend paid (net of DRP)(46.0) (41.1) (64.0) (88.3) (92.0) (44.9) (52.3) (44.4) (69.1) (94.9) (100.7) (50.3)
Net Cash Flow(156.4) 12.1 46.9 (162.3) (18.7) 6.4 (180.4) 10.3 50.5 (172.6) (21.4) 6.6
Borrowings acquired on acquisition- - - (14.0) - - - - - (14.7) - -
FX impact and finance lease movements 8.3 (0.3) (0.6) (0.1) (0.5) (0.1) 37.5 (10.9) 18.8 0.2 (15.0) (19.3)
(Increase)/Reduction in Net Debt(148.1) 11.8 46.3 (176.4) (19.2) 6.3 (142.9) (0.6) 69.3 (187.1) (36.4) (12.8)
A$mNZ$m

9
SEGMENT EARNINGS (EBITDA)
A$m FY14FY15FY16FY17FY18H1 FY18FY14FY15FY16FY17FY18H1 FY18
Healthcare138.6 157.6 179.6 197.3 216.6 109.4 153.1 170.2 195.0 208.8 235.9 120.0
Animal Care26.7 34.6 39.0 42.2 45.7 22.2 29.4 37.1 42.3 44.7 49.8 24.3
Corporate(6.4) (9.9) (10.9) (18.0) (12.2) (5.3) (7.1) (10.6) (11.9) (19.1) (13.2) (5.8)
Group - Reported158.9 182.3 207.7 221.5 250.1 126.3 175.4 196.7 225.5 234.4 272.4 138.5
Non recurring one-off
transaction costs
- - - 6.7 - - - - - 7.0 - -
Group - Underlying158.9 182.3 207.7 228.2 250.1 126.3 175.4 196.7 225.5 241.4 272.4 138.5
A$mNZ$m

www.ebosgroup.com