Bright Horizons Delivering on the Plan

FY17: Interim Results Presentation

21 February 2017

The information in this presentation dated 21 February 2017 may contain forward-looking statements and projections. These reflect thl's current expectations, based on what it thinks are reasonable assumptions. However, for any number of reasons the future could be different and the assumptions on which the forward-looking statements and projections are based could be wrong. thl gives no warranty or representation as to its future financial performance or any future matter. Except as required by law or NZX listing rules, thl is not obliged to update this presentation after its release, even if things change materially.

This presentation may contain a number of non-GAAP financial measures. Because they are not defined by GAAP or IFRS, thl's 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.

This presentation does not take into account any specific investors objectives, and does not constitute financial or investment advice. Investors are encouraged to make an independent assessment of thl.

The information contained in this presentation should be read in conjunction with thl's latest financial statements, which are

available at: www.thlonline.com

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REVENUE

EARNINGS BEFORE INTEREST AND TAX

H1 REVENUE

+9% $146M $18.7M

+1%

+20%

134146

UPUP

9%25%

110111

FY14 FY15 FY16 FY17

NET PROFIT AFTER TAX

$11.3M

UP

38%

INTERIM DIVIDEND

10cps(50% imputed)

UP FROM

9cps(50% imputed)

H1 NPAT

+129%

5.6

+45%

8.2

+38%

11.3

2.5

FY14 FY15 FY16 FY17

All financials in NZ Dollars unless stated otherwise (throughout presentation)

All comparisons are against prior corresponding period 3

NZD $M

H1 FY17

H1 FY16

VAR

VAR %

Operating revenue

146.0

133.7

12.3

9%

Earnings before

interest and tax*

18.7

15.0

3.7

25%

Operating profit before tax

17.7

13.7

4.0

29%

Profit after tax

11.3

8.2

3.1

38%

  • NPAT growth of 38%.

  • Rentals NZ achieved $3.7M EBIT, an increase of $3.7M on the pcp.

  • Tourism EBIT growth of $1.0M or 30% on the pcp.

  • Rentals Australia 5% rental income growth, 28% EBIT growth on a constant currency basis.

  • Growth in the underlying US Rentals EBIT of 7%. In NZD terms EBIT is down 2% due to the stronger exchange rate.

  • Group and Other costs were up $1.3M, due to the ongoing investment in the Mighway and GeoZone new initiatives.

* EBIT excludes joint venture and associates earnings

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THL - Tourism Holding Limited published this content on 21 February 2017 and is solely responsible for the information contained herein.
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