SHINE JUSTICE LTD — Earnings Release 2016

Aug 23, 2016

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Shine Corporate Ltd (SHJ) FY16 Financial Results

	Measure	Measure	FY16	FY15	% change	% change
	Revenue1		$151.5m	$150.9m	↑ 0.4%
	Statutory EBITDA		$25.0m	$44.0m	↓ 43.3%
	Normalised EBITDA2		$25.6m	$45.4m	↓ 43.6%
	Statutory NPAT		$14.8m	$29.6m	↓ 50.0%
	Normalised NPAT3		$153m	$306m	↓ 50.1%
			.	.
	Gross Operating Cash Flow		$18.8m	$13.0m	↑ 44.8%
	Dividend per share4		2.5 cents	3.75 cents	↓ 33.3%
	EPS		8.6 cents	17.2 cents	↓ 50.0%
1Revenue includes Interest revenue2Normalised EBITDA is after adjusting Statutory EBITDA fo3Normalised NPAT is after adjusting for Acquisition Costs (4		r Acquisition Costs of $665,038 (FY15 -$1,399,890)after tax) of $465,527 (FY15 -$980,000)
Full year FY16 dividend of 2.5 cents (2.5 cents final divide3.75 cents		nd and no interim dividend), compares to the FY15 full year dividend of
The Board of Shine Corporate Ltd today announce		d the FY16 financial results, with revenue of $151.5 million

1 Revenue includes Interest revenue

2 Normalised EBITDA is after adjusting Statutory EBITDA for Acquisition Costs of $665,038 (FY15 -$1,399,890)

3 Normalised NPAT is after adjusting for Acquisition Costs (after tax) of $465,527 (FY15 -$980,000)

4 Full year FY16 dividend of 2.5 cents (2.5 cents final dividend and no interim dividend), compares to the FY15 full year dividend of 3.75 cents

The Board of Shine Corporate Ltd today announced the FY16 financial results, with revenue of $151.5 million compared with $150.9 million in the prior corresponding period and statutory EBITDA of $25.0 million compared with $44.0 million in the prior corresponding period. Normalised EBITDA for FY16 was $25.6 million compared with $45.4 million in the prior corresponding period.

The Company’s statutory NPAT of $14.8m for FY16 compared with an NPAT of $29.6m for FY15. Normalised NPAT[3] for the year of $15.3 million compared with $30.6 million for the prior corresponding period.

Managing Director, Courtney Petersen, said the performance in FY16 was significantly affected by the restatement of provisioning levels for WIP and disbursements, and debtors. This had a material one-off impact on results for the half year ended 31 December 2015 resulting in a total additional provision of $17.5m and revised FY16 EBITDA guidance of $24m - $28m. The impact of this change to provisioning has flowed through to the full year which produced a statutory EBITDA result of $25m.

Key achievements for FY16 include:

• Gross operating cash flow of $18.8m which is up from $13m in the prior corresponding period

• DePuy class action settlement - $250m (inclusive of costs and disbursements) plus interest

• Improved brand awareness through the execution of a new marketing strategy

• Strengthened provisioning methodology

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The Board has declared an unfranked final dividend for FY16 of 2.5 cents per share with a Record Date of 12 September 2016 and payable on 7 October 2016.

The FY16 accounts and annual results presentation has been lodged with the ASX and can also be found on Shine’s website – www.shine.com.au up until 26th August and thereafter at www.shinecorporate.com.au

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Vicki Clarkson Company Secretary 24 August 2016

For more information

Courtney Petersen, Managing Director - Shine Corporate Ltd 07 3837 8401 Daniel Wilkie, Chief Financial Officer - Shine Corporate Ltd 07 3837 9446