CSG LIMITED 
By More than you expect.
CSG Limited
ABN: 64123 989 631
252 Montague Road
West End QLD 4101
1800985445 csg.com.au
info@csg.com.au
11 November 2013 ASX Announcement
Please find attaehed the address to shareholders by Mana9:in9: Director, Julie-Ann l Further information can be found at the Company's website: www.csg.com.au
Jillian Bannan
Company Secretary
More than you expect.
CSV Annual Generai Meetin
Speech by Julie-Ann Kerin. Mana inDirector
11 November 2013
Thank you far the introduction lan and l would like to welcome you ali here today.
The past year has seen a significant amount of change in the business.Following the sale of our Technology Solutions business to NEC,CSG embarked on a program to realign the cast base of the business and create a platform far future growth. This resulted in some significant cast reductions and restructuringof the business. In addition we were able to recruit a number of key executives to lead the business forward. This will provide the leadership we need to capitalise on the opportunities we see far growth and improved productivity.
Part of the program also included a substantial rebrandingexercise. ln December 2012 we launched our vision statement which is: 'To become the first choice brand in every market segment we operate. We wi/1 create sustainable value through innovative products and services, which wil/ be delivered with unriva/led customer care and passion."
This vision is centrai to our new promise to customers,shareholders and staff to deliver
"More than you expect".
ln keeping with this commitment, CSG set some ambitious goals to achieve by the end of the 2013 financial year. l wouId like to talk about some of these:
Financial Achievements
Far the full year, our underlyinEBITDA was $23.2 million which represented a 76 per cent growth on a proforma basis on the previous corresponding period. As direct result of cast savinginitiatives,our underlying EBITDA margins expanded from 6.5 per cent to 12.6 per cent.
The second half oftheyear aIso saw growth in equipment sales,with an increase in equipment revenue in Australia of18 percent.
ln addition,CSG Finance Solutions exceeded expectations with a book growth of16 per cent to a total of$115.5 million.
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More than you expect.
At the start of the year, CSG had seta target of achievingan annualised cast saving of $13 million through improved efficiencies and restructuring. This goal has been met. We have consolidated the businesses,and commenced activities to create greater operating efficiencies across the business. Progress has been made on a further annualised cast saving of $4 million through opportunities to reduce duplication in back office systems and other efficiencies.
Over the course of the year we aIso grew the pipeline for our new division of Enterprise Solutions. In addition, the appointment of a new senior Executive to head the division,is an important step to achieve growth in future years.
Customer Achievements
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More than you expect.
People Goals
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More than you expect.
Finally,subject to the vote today we will pay a 4 cent per share capitai return in December
2013.
We believe CSG is now on a growth trajectory and wili provide a stable dividend yield for our shareholders.l would like to thank our customers for their continued support and our Board and our stafffortheircontinued commitment to thesuccess ofthe business.
Thankyou
Further lnformation
lnvestors and Analysts: Neil Lynch +61 7 38401234
Melissa Horne + 613 9616 8704
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lnnovation and Growth Achievements
ln line with our motto of being a company that delivers 'More than You Expect',CSG has driven innovation through the company which has established a platform far future growth.
We launched a new customer portai,in a trial to select customers. This new offering is the first step in achievingour goal to extend our billing relationship with our customers. Through the portai,CSG customers can not only log service calls, download their bills and perform their regular contaet with CSG in a secure, online environment, but they can aIso arder new and value added products such as stationery and office supplies and recyclingservices. Overthe comingyear,we expect this to be rolled out to a significant proportion of our customer base in Australia and New Zealand.
On 15 Mareh 2013,we launched CSG Finance Solutions,providing a further opportunity to
re-engage with our customers. Based on CSG's established business in New Zealand, CSG Finance Solutions provides a credit facility for our customers to lease printers and multi function devices. We saw a rapid uptake of this new offering by Australian customers with a
$15.1 million book achieved by the end of June 2013.
The launch of our new brand coupled with the planned introduction of a new self-service environment provides CSG with the differentiator of achievingour vision of becoming the first choice brand far our customers.
We are also improving our service management system and have set ourselves the goal of improving customer satisfaction aver the coming year.
No successful company thrives without a healthy culture. To achieve this criticai goal,CSG has established a new executive team and implemented a Long Term lncentive scheme for Executives and an employee share pian for staff. l would like to thank shareholders for supportinthis initiative at last year's AGM.
Over the coming year we will continue with the reorganisation of the company to further reduce costs and improve customer satisfaction.
Other Matters
lt was pleasin to finalise the outstandinliti ation re ardinFuji Xerox Australia and Fuji
Xerox Finance this year, which was completed on 30 May 2013.
At the time of the publication of this year's Annual Report CSG advised that in relation to the Cin levue eiaim we had complied with an orderfor the inspection of documents but that no clarity had been iven about a potential claim. CSG has recently received a statement of eiaim which,in the Company's view, provides insufficient details of the basis for the
claim. CSG wili continue to update the market on this matter as required. Outlook
Without a doubt, this has been an extremely busy year for CSG. Over the next year,we aim
to achieve:
• UnderlyinEBITDA in the rane of $27 to $29million excludinthe impact of the Lon Term lncentive Pian. Thecostofthe LTIP will be$8.2 million overthe next three years with approximately $3.1 miIlion expensed in FY 14
• Total Revenue is projected to grow to approximately $200m for the financial year
• ln Finance Solutions we are targeting $150 million in receivables by the end of FY14.
• We will aIso develop new service offerings for launch in the first quarter of calendar year 2014.
ln terms of business transformation,we wili complete the move to a shared services model and deliver $4 miIlion of annualised cost out of the business from December 2013. This wili require an increased level of capitai expenditure durinthe year to $4 to $5 million, includin an IT transformation project. Over future years this will decrease to a rane between $2 and
$3 million for maintenance of capitai expenditure.
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