Infomedia Annual Report 2013

FY2013 Annual Report · Infomedia
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ANNUAL REPORT 2013

TABLE OF CONTENTS

RESULTS AT A GLANCE 

EXECUTIVE CHAIRMAN’S LETTER 

CFO REPORT: ACCOUNTING FOR THE FUTURE 

BUSINESS REPORT: SELLING THE FUTURE ONE DAY AT A TIME 

RESEARCH REPORT: THE COMING ERA OF THE SERVICE CUSTOMER 

DEVELOPMENT REPORT: INFOMEDIA’S DIGITAL HIGHWAY TO THE FUTURE 

DIRECTORS’ REPORT 

AUDITOR’S INDEPENDENCE DECLARATION 

STATEMENT OF PROFIT & LOSS AND OTHER COMPREHENSIVE INCOME 

STATEMENT OF FINANCIAL POSITION 

STATEMENT OF CASH FLOWS 

STATEMENT OF CHANGES IN EQUITY 

NOTES TO THE FINANCIAL STATEMENTS 

DIRECTORS’ DECLARATION 

INDEPENDENT AUDIT REPORT 

CORPORATE GOVERNANCE 

ADDITIONAL INFORMATION 

CORPORATE DIRECTORY 

1

3

7

10

13

17

19

28

29

30

31

32

33

67

68

70

75

76

© 2013 Infomedia Ltd. All rights reserved worldwide. This document may not be 
reproduced in whole or in part without the express written permission of Infomedia Ltd.

INFOMEDIA.COM

RESULTS AT A GLANCE

KEY FIGURES

Financial Year

2009

2010

2011

2012

2013

Sales Revenue  ($m)

54.3

NPAT ($m)

EBITDA ($m)

DPS (¢)

EUR Average FX 
Spot Rate (¢)

USD Average FX 
Spot Rate (¢)

10.5

15.9

2.8

54

76

45.3

11.3

18.2

2.4

63

88

44.1

10.0

18.8

2.4

72

98

45.7

8.5

17.7

2.4

77

48.7

10.1

20.1

2.8

80

104

103

SUPERSERVICE.COM

1.

EXECUTIVE CHAIRMAN’S LETTER

2.

INFOMEDIA.COM.AU

EXECUTIVE CHAIRMAN’S LETTER

FELLOW SHAREHOLDERS, DURING THE PAST YEAR, 

Over the course of the past three years, we have 

YOUR COMPANY CONTINUED TO SUCCESSFULLY 

strengthened our products, furthered our client 

INVIGORATE ALL ASPECTS OF ITS OPERATION, 

relationships, built an infrastructure that is once again 

PERFORMANCE AND PRESENCE. SALES REVENUE GREW, 

leading edge, and increased goodwill inside as well as 

NET PROFIT INCREASED, PRODUCT AND DELIVERY 

outside the Company. For the Leadership Team, these 

PLATFORMS STRENGTHENED, CUSTOMER GOODWILL 

achievements have facilitated further opportunities to look 

ADVANCED AND PLANNING FOR THE FUTURE EVOLVED. 

deeper into the future of our market, consider our place in 

I take pleasure in bringing you this year’s Annual Report 

on the performance of your company during FY 2013. 

During the year our teams have continued to build upon 

that future, and initiate actions for greater achievement and 

desirable outcomes. Of those matters, I share a few with 

you here. 

the good progress of recent years and deliver all-round 

The Future of Aftersales I.T.: Further in this Annual Report, 

good results. Results that we believe are sustainable and 

you will learn about the research interviews the Company 

will create further ﬁ nancial and market leadership growth. 

conducted last year with leading OEM Parts and Service 

In addition to the audited accounts and ﬁ nancial reports 

(‘Aftersales’) leaders in North America, Europe and Asia. We 

contained in this Annual Report, you will gain insights 

embarked upon the research to: 1 ) construct an industry 

into the commercial and technical areas of your company 

composite view of Aftersales in the year 2020; 2) identify 

too. You will learn about a market research project we 

technology trends, commitments, and goals of automakers 

performed during the year and how we will use the results 

for their dealers and vehicle owners; and 3 ) further detail 

of that research to guide Infomedia’s product and market 

Infomedia’s R&D direction and priorities. 

development for the decade to come. 

If I were to distil that future into just two words, it would 

But ﬁ rst, let me acknowledge our team for the outstanding 

be ‘Big Data’1. This concept – Big Data – will positively 

ﬁ nancial performance they achieved during the year. In the 

transform the relationship between vehicle owners and 

face of yet another year of adverse currency headwinds, 

Aftersales dealers. It will be revolutionary. It will transform 

the Company broke loose of its grip and increased Sales 

the way Aftersales departments are organised and 

Revenue by $3,012,000 and NPAT by $1,605,000. 

operated. It will stem service customer attrition rates 

This was an increase over FY 2012 results of 7% 

and provide higher levels of customer engagement 

and 19% respectively. 

and satisfaction. 

In keeping with Company policy, the Directors declared a 

For the Leadership Team, the research validated that the 

ﬁ nal dividend of 1.55¢ per share, bringing the total dividend 

Company’s Superservice™ strategy, introduced during the 

for FY 2013 to 2.82¢; an increase of 17.5% over the previous 

previous year, is tracking toward the future envisioned by 

year. You can read more about our ﬁ nancial performance in 

the industry leaders. In fact, it is helping to shape it. 

Jonathan Pollard’s CFO report.

KPI

Sales Revenue

EBITDA

NPAT

Cashﬂ ow

Subscriptions

Deﬁ nition
1 http://en.wikipedia.org/wiki/Big_data

FY 2012

FY 2013

Improvement

$45.7

$17.7

$8.5

$9.7

70,516

$48.7

$20.1

$10.1

$11.2

73,464

6.6%

13.6%

19.0%

15.5%

4.2%

SUPERSERVICE.COM

3.

EXECUTIVE CHAIRMAN’S LETTER

Investor Communications: As I stated in last year’s Annual 

Sales Model Expansion: The focus of the Leadership Team 

Report, the Company has solid fundamentals and is more 

in recent years has concentrated on the development 

resilient, able, and focused now than at any time in its 

past. During the year, the investment community took a 

greater interest in reassessing the Company, its underlying 

performance, and its future potential. 

of a technically superior product line and a strong back-

end production and publishing platform. We are satisﬁ ed 

with the achievements on those fronts. Now, with that 

foundation in place, our focus is on revolutionising the 

Management took opportunities in media releases, the 

commercial side of the business.

Annual General Meeting (AGM) and in discussions with 

research analysts to reiterate our business fundamentals 

and how to assess them. As that clarity into our business 

grew, so did the market’s appreciation for the Company and 

its place in its market sector.  

Many of the Infomedia investors I have met value the 

reliable and high dividend returns from our Company, 

and this year have beneﬁ ted from substantial capital 

appreciation. It’s been well reported in previous annual 

reports the adversity on our performance results that a 

Your company’s go-to-market model has remained constant 

for 23 years and its core tenet of recurring subscriptions will 

be here for years to come still. With the advent of Big Data, 

there is great potential in Leadership’s goal of product-

ubiquity by 2020 and future environment of cooperation 

between I.T. suppliers. Accordingly, the Company is 

evolving a broader go-to-market strategy than just direct 

product marketing by its sales personnel. 

At the core of our sales expansion will be: 1 ) the 

decade of currency appreciation has had. While we are in 

establishment of professional third party sales 

no position to predict the future, we are in a strong position 

representatives; 2) the licensing of Superservice solution 

to beneﬁ t from any retraction of the Australian Dollar 

components for integration into third party systems; and 3) 

against the U.S. Dollar and Euro. 

I believe this new appreciation of the overall business 

dynamics of the Company has contributed to an increase 

in our share price and the return of IFM shares into the All 

the licensing of some of Infomedia’s proprietary capital and 

platform assets to empower targeted third party solutions. 

This broader strategy of engaging with the expanding 

future of automotive I.T. will keep the Company leading the 

Ordinary Index on the 13th of March, 2013. 

industry’s innovation curve. 

4.

INFOMEDIA.COM.AU

EXECUTIVE CHAIRMAN’S LETTER

Our Superservice solution strategy has opened up these 

The program that was established in 2000 had become 

new opportunities to allow third parties to participate with 

low-proﬁ le for a number of years, but now, with the 

us in strategic alliances; extending the reach and scope 

resurgence of the Company, the Directors want to instil 

beyond what we could do alone.

Development Strength: On the heels of our Software-as-a-

Service (SaaS)2 or Cloud-based product implementations, 

our development teams continued innovating throughout 

FY 2013 delivering major upgrades to our online 

applications. These provided our customers with new 

features, performance improvements and a streamlined 

an experience of ownership participation with personnel 

whose commitment and performance represented 

exemplary merit. 

The ﬁ rst of the newest round of options were granted to 

personnel primarily at the Senior Management and Team 

Leader levels of our organisation. Options were granted 

with vesting occurring over 3 years, and execution hurdles 

user experience; further strengthening our product off ering.

tied to the IFM share price. 

For example, the new user interface for Microcat LIVE was 

designed to improve its performance and visual appeal. 

Improvements were made to integration tools to support 

more third party deployment options and the conversion 

of all disc-based products to SaaS. 

It is the Directors’ intention to progressively extend the 

grants to further members of the organisation for the same 

reasons already mentioned. Regrettably, the ATO tax 

treatment of employee options, is in my view, harsh and 

punitive, and works against motivating the people in the 

best position to exert themselves to make Australia a more 

FY 2013 saw a signiﬁ cant advancement of our back-end 

prosperous country to do so. 

automated testing, data processing, and production 

systems. As a result, our teams have transitioned from 

monthly information publication to weekly publication. The 

volume of online users grew substantially over levels at the 

end of FY 2012, and key application code was consolidated 

for more streamlined maintenance. Collectively, these 

achievements have resulted in higher productivity through 

greater levels of output. 

Research and Development: The Company continues 

with its strong investment in technology research and 

development. The Board plans to increase R&D spending/

expenditure in dollar terms, while, as a percentage of 

revenue, it may decrease. The Directors and the Leadership 

Team feel that the Company is in a good position to 

beneﬁ t from the future of Big Data and has insights into 

the evolution of its Superservice product line to meet the 

growing needs of automakers, dealers, legislators and 

vehicle owners. 

As I write to you, your company is healthy, forward-looking, 

and has an economic business model that is sound, 

competitive, and sustainable. As I’ve written to you before, 

business isn’t without its risks. The Leadership Team at 

Infomedia is invested to do all it can to grow the Company’s 

assets and opportunities.

As the founder and Chairman of the Company, I am proud 

of our people and the business we have created together. 

Infomedia has a respected position in our ﬁ eld and I believe 

our goals are realistic and achievable. I believe that the 

Company has endured challenges in recent years and came 

out the other side as a stronger and more mature enterprise. 

As I often do in closing this Chairman’s Report, I want to 

reaffi  rm that Infomedia’s main goal is straightforward: to 

contribute to our customers’ success. By so doing, we 

will continue our own success and deliver value to our 

shareholders. I commend this Annual Report to you and 

look forward to seeing you at the Annual General Meeting 

We estimate that the demand for capital investment to 

at our headquarters in Frenchs Forest on October 30th, if 

bring about the future envisioned by industry leaders 

you are able to attend in person. 

will be tremendous, and, in the current state of global 

economic uncertainty, will lead automakers away from 

in-house development and third parties toward  

collaborative cooperation. 

Employee Share Option Program: In May 2012, the 

Directors rekindled the Employee Share Option Scheme. 

RICHARD GRAHAM

Executive Chairman

Deﬁ nition:
2 http://en.wikipedia.org/wiki/Software_as_a_service

SUPERSERVICE.COM

5.

CFO REPORT: 
ACCOUNTING FOR THE FUTURE

6.

INFOMEDIA.COM.AU

CFO REPORT: 
ACCOUNTING FOR THE FUTURE

FOR THE 2013 FINANCIAL YEAR INFOMEDIA ACHIEVED 

development under a single workﬂ ow platform, whereas 

SALES REVENUE (SALES) OF $48.7M AND NET PROFIT 

previously the Company’s EPC and Superservice tasks 

AFTER TAX (PROFIT) OF $10.1M. THIS COMPARES TO 

were recorded separately.

FINANCIAL YEAR 2012 WHERE SALES TOTALLED $45.7M 

AND PROFIT WAS $8.5M. OPERATING CASH FLOW 

INCREASED BY $1.5M TO $11.2M. 

The tight cost control that has been exercised during the 

year is the result of careful management combined with 

a rigorous budgeting process. The budgeting process 

As previously reported, a fully franked ﬁ nal dividend of 1.55 

has improved substantially over the last two years as 

cents was paid to shareholders of record as at 2 September 

management began to capitalise on improvements to the 

2013, bringing the total dividends for the year to 2.82 cents 

Company’s reporting structures and systems.

(2.05 cents franked).  This represents a payout ratio of 85% 

of Proﬁ t. At 30 June 2013, the Company remained debt 

free, with $9.3m in cash on the balance sheet. 

FINANCIAL PERFORMANCE

FY 2013 delivered a solid set of results across all key 

OPERATIONAL PERFORMANCE

During FY 2013, the Company undertook signiﬁ cant work 

on its core infrastructure which is expected to deliver ﬁ scal 

and operational beneﬁ ts in future reporting periods. For 

example, the Company completed our online price book 

project during the year, which established the foundation 

to enable self-serve ordering and billing of our subscription 

products. As the customer base and subscriptions grow, 

it is increasingly important to streamline order processing 

and invoicing in order to maintain administrative cost 

control and improve proﬁ t margins.

The Company has also installed enhanced time recording 

systems. These will provide better tracking and reporting of 

project costs, and enabling improved ﬁ nancial modelling. 

A further beneﬁ t of this work is the alignment of all 

business drivers:

SALES

Sales revenue increased $3.0m or 6.6%. This was driven 

by growth in both the Parts and Service solutions, across 

all regions. The Company reported record levels of 

subscription equivalents of 73,464 as of 30th June, 2013. 

Microcat® LIVE EPC continued to grow its user base 

during the year, demonstrating consumer conﬁ dence in 

the Company’s ability to deliver market leading software 

and provide mission critical functionality in dealerships 

all around the world. Superservice® Menus™ continued its 

strong growth trajectory as more dealers come to realise 

the beneﬁ ts of precision quoting for service operations.

The following chart shows the geographical split and 

growth of Sales for FY 2012 and FY 2013.

SUPERSERVICE.COM

7.

CFO REPORT: 
ACCOUNTING FOR THE FUTURE

OPERATIONAL COSTS

Operational costs remained virtually ﬂ at as the Company 

However, despite the impacts of foreign exchange, the 

Company’s NPAT increased 19% or $1.6m to $10.1m.

maintained tight cost control and took advantage of its 

The chart below demonstrates how these factors have 

leveraged software business model. This is especially 

impacted the results.

pleasing to see given the publishing frequency for some 

of our Microcat LIVE franchises has increased fourfold this 

THE YEAR AHEAD

year. This is a testament to the constant focus on improving 

Looking forward, the Company anticipates further 

infrastructure and processes over the past three years. 

These improvements are enabling the Company to grow 

whilst maintaining a ﬁ rm hold on ﬁ nancial KPIs.

RESEARCH & DEVELOPMENT

subscription and sales revenue growth from both Parts 

and Service solutions. The Company expects a measured 

increase in operational costs to support the product and 

sales expansion, however, cost management will remain 

a core focus. We expect to maintain our investment in 

We maintained our investment in R&D as we continued 

R&D and see an increase in amortisation as the eff ects of 

to work on commercialising the new Superservice suite. 

products released part way through FY 2013, and from the 

We successfully released online versions for each of 

anticipated release of products in FY 2014 are realised. 

our legacy disc-based solutions which has been a 

Given the Company’s foreign exchange hedging, it is likely 

long-standing ambition for the Company. The amortisation 

that the relative FX impact will be neutral or positive for the 

charge increased in FY 2013 as we commercially released 

year compared with FY 2013 although the exact quantum is 

more online versions of our products.

diffi  cult to predict. Accordingly, the Company has provided 

FOREIGN EXCHANGE

guidance that it anticipates its FY 2014 sales revenue will 

be 8% – 12% higher and NPAT to be between 10% – 19% 

The average Australian dollar spot rates versus the USD 

higher than FY 2013.

and EUR through FY 2013 were marginally stronger than 

FY 2012. This contributed to a small adverse variance in 

proﬁ t compared to the prior year. The Company achieved 

a hedging gain of nearly $1.0m during FY 2013 but this 

was $1.6m lower than the previous year. The combination 

of spot and hedging eff ects created a signiﬁ cant adverse 

JONATHAN POLLARD

foreign exchange variance compared with FY 2012.

Chief Financial Offi  cer

8.

INFOMEDIA.COM

BUSINESS REPORT:
SELLING THE FUTURE ONE DAY AT A TIME

SUPERSERVICE.COM

9.

BUSINESS REPORT:
SELLING THE FUTURE ONE DAY AT A TIME

LAST YEAR WE DISCUSSED THE COMPANY’S 

Our ﬂ agship EPC, Microcat LIVE, continues to grow each 

OBJECTIVES OF PRODUCT INNOVATION, A ONE WORLD 

year. This year, a new market, Toyota Great Britain selected 

OPERATIONAL MODEL AND A VISION THAT INCLUDED A 

Microcat LIVE to be the EPC for all their dealers. Other 

BROADER SOLUTION SUITE; ALL FOCUSED ON GREATER 

Toyota markets in Europe are migrating to fully online 

REVENUE GROWTH AND PROFITABILITY. IN ADDITION, 

catalogues for all the beneﬁ ts that it provides too.

OUR CHAIRMAN COMMITTED TO RELEASING MORE 

PRODUCTS WITH THE AIM OF IMPROVING THE SALES 

AND SERVICE EXPERIENCE, AS HE WROTE TO YOU IN HIS 

2012 ANNUAL LETTER. THIS COMMITMENT INCLUDED 

SUPERSERVICE FOR CHRYSLER, GENERAL MOTORS 

AND TOYOTA IN NORTH AMERICA, MICROCAT LIVE FOR 

TOYOTA GREAT BRITAIN AND EXPANSION OF PRODUCTS 

In the United States, Microcat LIVE was recently launched 

for Chrysler and Fiat dealers. This is a great opportunity 

for Infomedia to serve these dealers. We are excited to 

be expanding our Microcat LIVE and Superservice 

off erings to Chrysler dealers in Canada, Australia and 

Mexico in FY 2014.  

IN RUSSIA, CHINA AND LATIN AMERICA. 

On the Microcat platform, we have expanded our Auto 

Today, I have the privilege of conﬁ rming that these 

objectives have been accomplished. Sales revenue has 

grown in excess of 6.6%, and more importantly, it has grown 

across all products, in all regions. The full Superservice 

suite was introduced in all our market regions. We now 

have productivity solutions for the Aftersales divisions of 

dealerships, supporting booking, inspection, quoting, parts 

ordering, service history, B2B, and satisfaction surveying. 

It is a global solution suite unsurpassed by any other provider. 

As committed, we have launched Superservice for 

Chrysler, Fiat, General Motors and Toyota. In addition, we 

have released the multi-point inspection functionality for 

all of our existing Superservice Menus franchises in all 

PartsBridge (APB) subscriptions throughout North America. 

No competitive business-to-business parts solution is 

built with the assurance of a high-ﬁ delity SaaS EPC at its 

core. APB provides opportunity for franchised dealers to 

increase conquest part sales over non-genuine aftermarket 

parts. We are now seeing interest in APB from automakers 

wanting to advance their wholesale parts programs to a 

new level of supply chain effi  ciency. Toyota and Honda 

APB subscriptions have increased signiﬁ cantly and we are 

pleased to have Hyundai and KIA Canada implementing 

APB now, with others joining soon. 

Across the globe, we have continued to strengthen our 

commercial relationships at all levels as evidenced by the 

languages. Late this year we completed the online booking 

number of renewals, extensions and new data license 

capability to Superservice, providing self-serve appointment 

agreements. There has been an increased level of interest 

scheduling to the service experience. We now stand poised 

and inquiry regarding Infomedia’s expanded Superservice 

to sell these solutions into our existing base of subscribers 

product lines from existing and new customers. Our current 

as well as to new users and through new channels. The next 

EPC customers want to leverage the interoperability 

year will see an expansion to our sales model through 

Superservice provides. We are seeing a concerted focus 

third party VAR channels, system integration and strategic 

by automakers to critically look at dealership Aftersales 

alliances. Superservice empowers dealers’ customers’ 

processes. This is to increase the competitiveness of 

experiences. It can also enhance third party solutions. 

their dealers in the face of non-genuine aftermarket 

Superservice provides the opportunity to extend the reach 

service and parts suppliers. This presents opportunities 

and scope of our technology and services beyond our 

for our Superservice platform that speak to the needs of 

traditional sales model. 

automakers, dealers and their customers, alike. 

10.

INFOMEDIA.COM

BUSINESS REPORT:
SELLING THE FUTURE ONE DAY AT A TIME

Regardless of franchise and location, all dealers share the 

can play in realising that vision. Our product direction 

same objectives: quality relationships, operations effi  ciency, 

fully aligns with what Aftersales leaders are requiring: 

customer retention, and proﬁ tability. Superservice is the 

fully online self-serve applications; cross-application 

resounding solution to support their objectives. Dealers 

interoperability; in-depth visibility of operations through 

want and need a solution that supports their processes 

analytics; and Big Data enrichment. In their own ways, 

from appointment booking to job follow-up. Superservice 

they describe Superservice!

has grown from VIN-speciﬁ c precision service price quoting 

to now encompassing service booking, vehicle inspection, 

service history, repair follow-up and satisfaction surveying. 

Superservice is ready for all our markets with expansion 

of the solutions into the BRIC* markets underway for Ford, 

Jaguar and Land Rover. 

In the following section, Peter Petrovski, Director of Product 

Strategy, describes the research we undertook with a 

number of automotive industry leaders from all parts of 

the globe regarding the vision for Parts and Service in the 

next decade. The research was conducted to listen to the 

Our Commercial Team is managing the opportunities 

to apply our full suite of off erings in support of dealers’ 

Aftersales goals. Infomedia’s fully integrated Parts and 

Service solutions are leading product innovation and 

Aftersales process improvement around the Globe. 

The future of super service is being built NOW!

needs and wants of our clients and partners in order to 

KAREN BLUNDEN

understand their vision for the future and the role Infomedia 

Director Global Business Development; CEO IFM Americas

* Brazil, Russia, India and China

SUPERSERVICE.COM

11.

WELCOME TO THE ERA OF 
RESEARCH REPORT: THE COMING ERA 
OF THE SERVICE CUSTOMER
THE CUSTOMER EXPERIENCE

12.

INFOMEDIA.COM

RESEARCH REPORT: THE COMING ERA 
OF THE SERVICE CUSTOMER

INFOMEDIA’S RESEARCH REVEALS 

automation projects or tools, to a world of continuously 

THE FUTURE OF AFTERSALES

AT INFOMEDIA WE HAVE A GOAL OF MAKING OUR 

PRODUCTS THE STANDARD FOR DEALERSHIP FIXED 

OPERATIONS AROUND THE GLOBE. WE CALL THIS PRODUCT-

UBIQUITY. ONE WAY WE ARE WORKING TO ACHIEVE 

PRODUCT-UBIQUITY IS BY DISCOVERING OUR CLIENTS’ 

VISION OF THEIR FUTURE, IN ORDER TO HONE OUR 

STRATEGIES AND LEADING EDGE. 

connected digital business. In the main, Aftersales 

technology has focused in the areas of diagnostics, 

inventory management and siloed operational apps like 

EPC. The interviewees concluded that the next challenge for 

the industry is to apply new technology eff orts to improve 

customer engagement processes, which they believe can 

have a big impact on improving customer retention and 

brand loyalty.

As our Chairman outlined earlier in this report, over the past 

As one contributor commented, “We have real diffi  culties 

year we carried out a project to assess what automotive 

in getting the right market intelligence to understand what 

leaders think about the current state of Parts and Service 

is important from a customer perspective. There’s data 

(‘Aftersales’) and what they imagine the business of 

everywhere and all throughout the industry, but there’s just 

the future will look like. After engaging in meaningful 

no information. There’s nobody connecting the dots.” 

discussions with 26 participants/interviewees, we came 

away with many valuable insights.

The vision for 2020 points to the industry utilising computer 

power, data, and analytics in increasingly diverse ways. The 

By gaining perspective into what the future will look like, 

access to “Big Data” will make it possible and necessary to 

Infomedia is positioning itself to be at the forefront of 

begin to address customers as individuals, rather than as 

solving upcoming challenges and delivering relevant and 

marketing categories. I.T. advancements in data collection, 

innovative technology solutions. The results of this research 

improved alliances between automakers and dealers, and a 

are part of the guideposts that we will use as we plan for 

focus on process control will facilitate a new level of service 

the future, both in terms of our Superservice™ product 

customer engagement. 

strategy and the tactical execution of our go-to-market 

plans. Infomedia will be part of the future, because we will 

be making the future come about. 

Dealers and their service departments will be focused on 

building relationships with the customer, fostering trust and 

tailoring the dealership and service experience to each 

The cornerstone question of the interview was, “What will 

individual customer. Customer engagement will increasingly 

Parts and Service operations look like in the year 2020?” 

be online and automated: Self-Service Appointment 

While many responses ﬂ owed from that simple question, 

Booking, Parts Purchasing, Information Capturing, 

it was clear that in 2020, Parts and Service departments 

Performance Comparisons and Vehicle Record Keeping 

will be doing business in the “service customer” era 

to mention a few. Automakers and dealers will achieve 

and technology and information will play a big role. This 

a greater level of co-operation on strategic and tactical 

presents a future full of exciting and rewarding possibilities 

initiatives, redeﬁ ning the service chain processes and 

for our company.

customer experience to combat aftermarket competition. 

The distilled view of the current situation was that 

Aftersales is progressing from an era of selective ‘silo’ 

Ten major categories emerged from the interviews that give 

insight into what the Aftersales business of 2020 will look 

SUPERSERVICE.COM

13.

RESEARCH REPORT: THE COMING ERA 
OF THE SERVICE CUSTOMER

like and how we will get there from here. These were: 

Another interviewee explained, “We have already made 

1.  The Customer

2.  Future Vehicle Technology

3.  Data, Information, Empowerment

4.  Connectivity and the Role of the Internet

the eff ort of assessing the most productive way to run 

a dealership, such as how to greet the customers, treat 

staff , and run the service departments. We want to know if 

there are any areas where we can improve the process or 

improve the technology so that it will improve productivity 

5.  Customer Experience – Growth and Retention

and reduce the cost of running a dealership.” 

6.  Automaker and Dealership Promise Partnership

Our study showed that data is one of the best tools that 

7.  Breaking Down the Walls in Dealerships

8.  Parts Inventory and Logistics

9. 

Improving Dealership Service Process

10.  Social Media. 

Aftersales enterprises can use to improve the customer 

experience, but currently it is underutilized by the industry. 

Interviewees acknowledged that the amount of customer 

and vehicle data available in dealerships will increase 

considerably by 2020. They also acknowledged that 

The research validates our Superservice product strategy 

removing the data silos between and within automakers, 

is on the centreline of the future described, but we see 

dealerships, and third parties is essential to unlocking 

this as only the beginning. As the industry moves its 

potential for dealership productivity and customer 

focus to improve customer engagement and increase 

retention beneﬁ ts. 

sales automation, there is a valuable place for Infomedia 

in shaping dealership Aftersales of 2020. Our innovative 

approach to technology extends beyond knowing what 

machines will be capable of doing to, more importantly, 

For Infomedia, the increasing future importance of Big Data 

plays to our strength. We will have new opportunities to build 

unique capabilities into our Superservice product lines through 

capturing, processing and converting data into information that 

programming them with the psychology and expectations 

dealer and customers need to perform 21st century business. 

of the customers who will be the focus of their tasks. 

Delivering all this in a way that makes it useful to support 

Delivering on these distinctions will keep Infomedia at the 

buying and selling transactions requires the intelligence, vision 

forefront of aff ordably solving dealer and customer needs. 

and creativity that Infomedia has demonstrated.

14.

INFOMEDIA.COM

RESEARCH REPORT: THE COMING ERA 
OF THE SERVICE CUSTOMER

Respondents also noted the prevalence of Big Data will 

This research has provided the Company with important 

be further leveraged by increasing the use of vehicle 

insights about how Infomedia can continue to lead 

telematics and continuous internet connectivity. Many of the 

the industry in the coming years and achieve the goal 

OEM leaders speculated that in the future, vehicles with full 

of product-ubiquity. Now that we have some thought-

digital connectivity will be the norm. This will help build new 

provoking ideas about what the Aftersales Fixed 

connections between the vehicle and customer, customer 

Operations department of 2020 will look like, it’s our job to 

and dealer, and customer and automaker.

As one comment shows, vehicle connectivity is an idea that 

is already gathering momentum: “The trends we are seeing 

and aiming for right now are more to do with connectivity 

and how cars communicate with the customer and 

help transition our customers to this new reality with cutting 

edge solutions. As a company, we aspire to be seen as 

more than just providers of excellent technology solutions, 

but also as innovators and thought-leaders, anticipating 

needs and helping to grow dealership businesses. 

communicate with the workshop before they even come 

As part of this research, we have prepared a whitepaper 

into the workshop for their repair or accessory.”

The future organisation of Parts and Service departments 

was another recurring topic amongst the industry leaders 

who were interviewed. The vision expressed by leaders 

suggests Parts and Service processes may be aligned 

under a uniﬁ ed Aftersales or Customer Support department 

and I.T. systems, allowing seamless collaboration between 

the two functions. It was noted that service processes 

will operate diff erently in the future. Technological and 

personnel processes will be overhauled so they are more 

effi  cient and responsive to customer needs. Standardised 

information will be housed on common platforms, allowing 

the information to be easily harnessed and used by 

that will be shared with the automotive leaders who 

participated. The whitepaper helps to answer the question 

of how we help the industry move from its current state 

to the one predicted for 2020. It will serve as a written 

demonstration of our credibility and understanding of 

important issues facing the industry.

Establishing certainty and trust in the sales process, and 

improving the overall customer experience will be the 

framework of successful Parts and Service departments 

in the future. Infomedia’s role in 2020 will be to continue 

helping automotive dealerships build key relationships 

by capitalising on our innovative approach to technology, 

ability to use Big Data, and our Superservice platform for 

systems, dealers, and by customers to make better buying 

process control guidance. 

and selling decisions. 

Technology providers, including Infomedia, will deliver the 

tools that facilitate this dealership transformation. Solutions 

will support new, more interactive workﬂ ows. The strategies 

of how to retain service customers will evolve to suit the 

needs of a new generation of vehicle owners. Infomedia 

is well placed to take advantage of such changes. 

Our Superservice platform is built using the principles 

of interoperability, allowing Parts and Service staff  to 

exchange information that supports a more productive 

Great product innovation and reasonable commercial 

terms have played a large role in our success for over 23 

years. In 2020, Aftersales departments may look and work 

diff erently than they do today, but I believe Infomedia will 

be their technology partner of choice around the world. 

and proﬁ table sales process for the dealer, and a more 

Peter Petrovski

rewarding and transparent experience for the customer. 

Director of Product Strategy

SUPERSERVICE.COM

15.

DEVELOPMENT REPORT: INFOMEDIA’S 
DIGITAL HIGHWAY TO THE FUTURE

16.

INFOMEDIA.COM.AU

DEVELOPMENT REPORT: INFOMEDIA’S 
DIGITAL HIGHWAY TO THE FUTURE

THE PAST YEAR HAS BEEN A VERY PRODUCTIVE ONE 

so well. Such thinking is central to the goals we have set 

FOR INFOMEDIA’S OPERATIONS, PRODUCTION, AND 

for ourselves in the areas of production automation, quality 

SYSTEMS DEPARTMENTS. WE HAVE MADE GREAT 

control, and online product publishing systems. This results 

STRIDES IN CONCLUDING THE TRANSITION OF OUR 

in the innovative products we have created that contain 

PRODUCTS FROM DVD-ROM DISCS TO TODAY’S 

many industry ﬁ rsts.

SOFTWARE-AS-A-SERVICE (SAAS) IMPLEMENTATIONS. 

WE HAVE ALSO SEEN THE RELEASE OF OUR 

SUPERSERVICE SUITE OF PRODUCTS IN EUROPE, ASIA 

PACIFIC AND NORTH AMERICA. ALL OF THIS PROGRESS 

IS A TESTAMENT TO THE HARD WORK AND DEDICATION 

OF THE OPERATIONAL GROUPS AT INFOMEDIA. BUT, 

THESE ‘FRONT END’ PRODUCT RELEASES ARE ONLY 

PART OF THE STORY. THE SECOND HALF OF THE STORY 

HAS BEEN TAKING PLACE BEHIND THE SCENES, AT THE 

BACK-END OF THE BUSINESS.

To build something substantial, you need a solid foundation 

to build on. While our back-end operational improvements 

may not be greeted with the same fanfare as Infomedia’s 

product releases, they are just as signiﬁ cant. Our internal 

operations and systems do the hard work that enables our 

customer-facing products to perform at their high standard. 

The technology and process improvements discussed 

below are all part of preparation work that is setting the 

foundation for our vision of Infomedia in the year 2020. 

In FY 2013, many of our OEM licensors released their 

catalogue data once a week while elements such as 

pricing could have changed every day. During the year, we 

have continued to invest in new processes and systems 

to synchronise our SaaS publishing cycles with the OEM 

data release cycles. Being online brings a new set of 

expectations for our products and it is our technology 

infrastructure that empowers their achievement.

To ensure accurate, on-time delivery, we have invested 

in process and quality automation to allow us to receive, 

verify and process data, as well as compile editions of our 

products with little staff  intervention. Once an edition is 

compiled, the Quality Assurance Team conducts automated 

‘usability’ tests and then signs off  the release as being 

ready for publication. With these new processes and 

tools in place, we have been able to meet our partners’ 

desire for more frequent publication, without needing to 

proportionally increase personnel numbers to do so.

We view these back-end productivity and infrastructure 

The ﬁ nal step of deploying a product release for publication 

improvements as being vital to the overall success of our 

has also beneﬁ ted from our Development and Systems 

product plans.

When Infomedia commenced its EPC business in 1990, 

one of the key diff erentiators of our Microcat product was 

that we set new records for publishing times. In the 1990s, 

many automotive OEMs were still producing their parts 

catalogues via books and microﬁ che on a six or twelve-

groups collaborating to further automate the processes 

involved. This started with our move away from rigid 

hosting environments to using ﬂ exible computing services. 

This is both technically and economically better for our 

products, our customers and our shareholders. This has 

allowed us to create a suite of processing and publishing 

month cycle. Competitive EPC vendors of the day generally 

tools based on I.T. services, that have given us more control 

had an eight to ten week production cycle. This meant that 

over the entire online publishing process. It has reduced 

by the time the catalogues arrived at a dealership, it was 

the time and eff ort required to release each product, 

already two or three months old. At the time, Infomedia set 

ensures higher quality standards, and reduces downtime 

about producing an updated version of Microcat that put 

when performing system maintenance. Whilst the initial 

the latest CD-ROM in the dealers’ hands every month, and 

focus has been on our most widely used Microcat products, 

within two weeks of receiving the data from the OEM. 

our architectural designs have been planned with all of the 

A lot has changed since then in terms of the available data, 

processing and publishing tools, and infrastructure, but we 

Superservice products in mind. These improvements are 

being migrated across the entire product range. 

continue to tackle today’s issues with the same ‘outside of 

There are Development, Production, I.T. Systems, and 

the box’ thinking that serves Infomedia and its customers 

Customer Support tasks being carried out in Sydney and 

SUPERSERVICE.COM

17.

DEVELOPMENT REPORT: INFOMEDIA’S 
DIGITAL HIGHWAY TO THE FUTURE

Melbourne in Australia, Plymouth in the United States, and 

ability to provide industry leading uptime and availability in a 

Cambridge in the United Kingdom on a daily basis. During 

robust infrastructure continues to improve. As at June 2013, 

the course of the year, we established a new European 

the number of accesses to our EPC products each week 

Customer Service Centre and European headquarters 

exceded 15 million. We anticipate that to triple in FY 2014.

in Cambridge, United Kingdom. The expanded local 

operations will eff ectively support our strong user 

community and our growth strategies for the EMEA* 

region going forward.

The signiﬁ cant improvements Infomedia has made 

to its technology infrastructure in the last year shows 

we understand that to be a company built to last, we 

must deliver great products that meet the needs and 

To further support the operational requirements of our 

expectations of today, while at the same time investing in 

business in the international arena, we are upgrading our 

the infrastructure, research, and product development that 

internal network to support high-traffi  c data ﬂ ow. This 

is needed for the future. 

upgrade has been carefully planned over a number of months 

and is due to be completed in 2013. Aside from assisting 

in more rapid data transfer to support quicker production 

processes, the network also supports Management’s rapid 

disaster recovery risk objectives for our non-publishing 

(internal) business systems. 

In last year’s Annual Report, our Director of Global I.T. and 

Development, Nic Fogg, talked about some of the technical 

challenges we faced in moving our product suites into 

the online world. I’m pleased to say that during the past 

The work we are doing, both behind the scenes and on the 

front lines of product innovation, supports our customers 

and ensures we will get them to their 2020 digital future 

destination, on a highway we know is safe, fast, and 

eff ective. We’ll know that because we will have built it. 

year, we have made signiﬁ cant progress in this area of the 

ANDREW PATTINSON

business. Our online user-base continues to grow, and our 

Director of Global Solutions and Systems

* Europe, Middle East and Africa

18.

INFOMEDIA.COM

DIRECTORS’ REPORT

RICHARD GRAHAM

Executive Chairman

FRANCES HERNON

Non-Executive Director

MYER HERSZBERG

Non-Executive Director

“Corporate governance is a solemn 

“Shareholders are entitled to expect 

“The role of corporate governance is 

trusteeship held on behalf of each and 

that the companies in which they 

to protect all shareholders equally, 

every stakeholder of the Company. 

invest are managed eff ectively and 

regardless of the size of their 

It’s about trust and it’s about subject 

honestly. Corporate governance 

shareholding. 

matter competence. It’s about the 

provides the framework for ethical 

Now, and it’s about the Future. It’s 

leadership, sustainable business 

about Balance, and it’s about being 

strategies and reliable ﬁ nancial 

out on the edge. Shareholders aren’t 

statements. It is about assessing and 

looking for politically correct seat-

mitigating risks such that performance 

warmers. They want real people like 

is optimised. It is not a tick the box 

themselves looking after their interest. 

approach but rather must strike the 

They want Directors who know the 

right balance between vigilance 

diff erence between governance and 

and cost effi  ciency. Simply put, good 

management; so they can get the 

corporate governance equals good 

best from each.”

business.”

Mr Graham has been a Director 

Ms Hernon has been a Director since 

since 1988 and was last re-elected 

2000 and was last re-elected to the 

to the Board in October 2008. His 

Board in 2011. Her strengths are in the 

strengths are in the areas of business 

areas of publishing, marketing and 

development, product deﬁ nition and 

technology.

innovation, and change.

“As directors, we have a responsibility 

to act on behalf of, and try to create 

wealth for, all our shareholders. At 

Infomedia we are fortunate to have 

a long-standing team who have 

delivered consistent returns whilst 

continually seeking out new products 

and ideas to grow the business. 

This team has all the shareholders’ 

interests at heart and, I would suggest, 

has the balance right.”

Mr Herszberg has been a Director 

since 1992 and was last re-elected to 

the Board in 2012. His strengths are 

in the areas of business development, 

electronics and real-estate.

SUPERSERVICE.COM

19.

DIRECTORS’ REPORT

Interests in the shares and options of the Company and related bodies corporate 

As at the year ending 30th June 2013, the interests of the Directors in the shares and options of the Company were:

Wiser Equity Pty Limited

Yarragene Pty Limited

Yarragene Pty Ltd atf Yenzick Trust

Rentamobile Pty Ltd

Wiser Centre Pty Limited

Richard Graham

Frances Hernon

Infomedia Ltd

Ordinary Shares
fully paid

101,464,342

23,421,589

10

15,000

1,000,000

926,559

5,000

Options over 
Ordinary Shares

-

-

-

-

-

-

-

Richard Graham is the sole Director and beneﬁ cial shareholder of Wiser Equity Pty Limited. Richard Graham is a Director 
of Wiser Centre Pty Limited, trustee for the Wiser Centre Pty Ltd Superannuation Fund. Myer Herszberg is a Director and 
major shareholder of Yarragene Pty Limited and Rentamobile Pty Ltd.

PRINCIPAL ACTIVITIES 

Infomedia Ltd is a company limited by shares that is incorporated and domiciled in Australia.

The principal activities during the year of entities within the consolidated group were:

• 

• 

developer and supplier of electronic parts catalogues and service solutions for the automotive industry globally; and

information management, analysis and creation for the domestic automotive and oil industries.

There have been no signiﬁ cant changes in the nature of those activities during the year.

EMPLOYEES

The company employed 235 (2012: 231) full time employees as at 30 June 2013. 

DIVIDENDS

Final dividends recommended:

On ordinary shares – ﬁ nal – fully franked

Dividends paid in the year:

Cents

$’000

1.55

4,713

On ordinary shares – 2013 interim – franked to 0.5c

1.27

3,855

Final for the 2012 year: 

On ordinary shares – as recommended in the 2012 report, fully franked

1.37

4,155

NET TANGIBLE ASSETS PER SECURITY

The Company’s net tangible assets per security are as follows:

·  Net tangible assets per share at 30 June 2013

·  Net tangible assets per share at 30 June 2012

Cents 

1.3

0.7

20.

INFOMEDIA.COM

DIRECTORS’ REPORT

REVIEW AND RESULTS OF OPERATIONS 

The following table presents sales revenue and proﬁ t after tax. There were no non-recurring signiﬁ cant items during the 
2013 or 2012 ﬁ nancial years:

Sales revenue

Foreign exchange movement on hedges closed out during the period

Proﬁ t after tax 

CONSOLIDATED

2013

$’000

48,689

 989

49,678

10,066

2012

$’000

45,677

2,620

48,297

8,461

The results for the year ending 30 June 2013 show that the Company’s Net Proﬁ t After Tax (NPAT) grew by 19.0% to 
$10,066,000 and Sales revenues grew by 6.6% to $48,689,000. 

The Company’s NPAT exceeded previously advised guidance by $566,000, while Sales Revenue was in the middle of 
FY2013 guidance range. The achievement of NPAT beyond guidance is attributed to sales growth combined with tight cost 
control and some beneﬁ t from a weaker Australian dollar towards the end of the year.

The increase in Sales Revenue was driven by growth in all product lines. Electronic Parts Catalogue Solutions (EPC) 
revenue grew $1.7m, Superservice revenue grew $1.2m and other revenue grew $0.1m.  

Subscription Equivalents increased to an all-time high of 73,464 with Superservice products increasing 15% to 16,742 
subscriptions, and EPC subscriptions by 1.5% to 56,722.

In constant currency terms, sales revenue rose by $3.3m and operating costs remained virtually ﬂ at. Foreign currency 
translations adversely aff ected constant currency EBITDA over the prior year by $1.9m. Despite this, the Company 
achieved an EBITDA (excluding capitalisation of research and development) of $12.7m, a 12.7% increase of $1.4m.

The Company saw increased capitalisation and amortisation during the year and a lower tax expense.  Overall, NPAT 
increased $1.6m or 19% to $10.1m.  

Cash ﬂ ows from operations increased $1.5m to $11.2m primarily due to higher sales off set by adverse foreign currency translations.

The Company is debt free and had $9.3m of cash as at 30 June 2013.

The Board has declared a fully franked ﬁ nal dividend payment of 1.55 cents per share. This, together with the interim 
dividend of 1.27 cents, results in a total dividend of 2.82 cents for the full year which is 17.5% higher than the prior year and 
represents a payout ratio of 85% of NPAT.   

The record date to determine entitlements to the dividend distribution is 2 September 2013 and the date on which the 
dividend is payable is 20 September 2013.

With regards to FY2014, the Company advises that it expects both constant currency and reported AUD growth.  
Accordingly, the Company provides guidance today that it anticipates continuing double-digit growth with Sales Revenue 
to grow by 8% – 12% and NPAT to grow by 10% – 19% in FY2014. 

SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS 

There has been no signiﬁ cant change in the state of aff airs of the Company since the last Directors’ Report.

MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR

There has been no matter or circumstance that has arisen since the end of the ﬁ nancial year that has signiﬁ cantly aff ected 
the operations of the Company, the results of those operations, or the state of aff airs of the Company.

LIKELY DEVELOPMENTS AND EXPECTED RESULTS 

In the year ahead the Company expects to continue to release its internet-based products. The company expects to 
continue increasing Superservice™ revenue.

ENVIRONMENTAL REGULATION AND PERFORMANCE 

The Company is not subject to any particular or signiﬁ cant environmental regulation under a law of the Commonwealth of 
Australia or of a State or Territory.

SUPERSERVICE.COM

21.

DIRECTORS’ REPORT

SHARE OPTIONS 

Unissued shares

At the date of this report, there were 5,850,000 unissued ordinary shares under options. Refer to Note 19 of the ﬁ nancial 
statements for further details of the options outstanding.

Shares issued as a result of the exercise of options

There were 300,000 shares issued as a result of the exercise of options during the year.  Since the end of the ﬁ nancial 
year there have been 526,300 options exercised.

INDEMNIFICATION AND INSURANCE OF DIRECTORS AND OFFICERS 

During the year the Company paid a premium in relation to insuring Directors and other offi  cers against liability incurred 
in their capacity as a Director or offi  cer of the Company. The insurance contract speciﬁ cally prohibits the disclosure of the 
nature of the policy and amount of premium paid.

REMUNERATION REPORT – AUDITED

This remuneration report outlines the director and executive remuneration arrangements of the Company and the Group 
in accordance with the requirements of the Corporations Act 2001 and its regulations. For the purposes of this report, key 
management personnel (KMP) of the Group are deﬁ ned as those persons having authority and responsibility for planning, 
directing and controlling the major activities of the Company and the Group, directly or indirectly, including any director 
(whether executive or otherwise) of the parent company.

Details of Key Management Personnel

(i) Directors

Richard Graham 

Executive Chairman

Frances Hernon 

Non-executive Director

Myer Herszberg 

Non-executive Director

Geoff rey Henderson  Non-executive Director*

(ii) Executives

Karen Blunden 

Director of Global Business Development, and CEO IFM North America

Nick Georges 

Company Secretary and Legal Counsel

Andrew Pattinson 

Director of Global Solutions and Systems

Jonathan Pollard 

Chief Financial Offi  cer

Michael Roach 

Director of Operations, and General Manager Asia Paciﬁ c

*resigned 3 January 2013

Compensation Philosophy 

The performance of the Company depends upon the quality of its directors and executives. To prosper, the Company 
must attract, motivate and retain highly skilled directors and executives. To this end, the Company embodies the following 
principles in its compensation framework:

•  Provide competitive rewards to attract high calibre executives;

•   Link executive rewards to shareholder value; and

•  Establish appropriate performance hurdles in relation to variable executive compensation.

Remuneration Decisions

Ms. Hernon, in her capacity as lead director for all matters that formally fell within the former Remuneration & Nomination 
Committee of the Board of Directors is responsible for recommending to the Board the Company’s remuneration and 
compensation policy arrangements for all Key Management Personnel. Ms. Hernon, together with the non-executive 
members of the Board assess the appropriateness of the nature and amount of these emoluments on a periodic basis by 
reference to relevant employment market conditions with the overall objective of ensuring maximum stakeholder beneﬁ t 
from the retention of a high quality board and executive team. 

Compensation Structure

In accordance with best practice corporate governance recommendations, the structure of non-executive Director and 
senior executive compensation is separate and distinct.

22.

INFOMEDIA.COM

DIRECTORS’ REPORT

REMUNERATION REPORT (CONTINUED) – AUDITED

Non-executive Director Compensation 

Objective

The Board seeks to set aggregate compensation at a level which provides the Company with the ability to attract and 
retain Directors of appropriate calibre, whilst incurring a cost which is acceptable to shareholders.

Structure

The Constitution and the ASX Listing Rules specify that the aggregate compensation of non-executive Directors shall be 
determined from time to time by a general meeting. An amount not exceeding the amount determined is then available 
between the Directors as appropriate (for the year ended 30 June 2013 non-executive Directors’ compensation totalled 
$153,335 (2012: $176,210). The latest determination was at the Annual General Meeting held on 30 October 2002 when 
shareholders approved a maximum aggregate compensation of $450,000 per year.

The Board has historically considered the advice from external consultants as well as the fees paid to non-executive 
Directors of comparable companies when undertaking a review process.

Senior Executive and Executive Director Compensation 

Objective

The Company aims to reward executives with a level and mix of compensation commensurate with their position and 
responsibilities within the Company and so as to:

•   reward executives for Company and individual performance against targets set by reference to appropriate benchmarks;

•   align the interests of executives with those of shareholders;

• 

link reward with the strategic goals and performance of the Company; and

•   ensure total compensation is competitive by market standards.

Structure

In determining the level and make-up of executive compensation, the Remuneration Committee engages an external 
consultant from time to time to provide independent advice in the form of a written report detailing market levels of 
compensation for comparable executive roles.

Compensation consists of the following key elements:

•   Fixed Compensation;

•   Variable Compensation - Short Term Incentive (‘STI’); and

•   Variable Compensation - Long Term Incentive (‘LTI’).

The actual proportion of ﬁ xed compensation and variable compensation (potential short term and long term incentives) is 
established for Key Management Personnel (excluding the CEO and non-executive Directors) by the CEO in conjunction 
with the lead director (Ms. Hernon) for all remuneration matters, and in the case of the CEO, by the Chairman of the Board 
in conjunction with Ms. Hernon. Other executive salaries are determined by the CEO with reference to market conditions. 

Fixed Compensation

Objective

The level of ﬁ xed compensation is set so as to provide a base level of compensation which is both appropriate to the 
position and is competitive in the market. Fixed compensation is reviewed periodically by the CEO or Executive Chairman 
in conjunction with Ms. Hernon for the Key Management Personnel (excluding the CEO and non-executive Directors), 
and in the case of the CEO, by the Chairman of the Board in conjunction with Ms. Hernon. All other executive positions 
are reviewed periodically by the CEO or Executive Chairman. As noted above, Ms. Hernon has access to external advice 
independent of management.

Structure

Executives are given the opportunity to receive their ﬁ xed (primary) compensation in a variety of forms including cash or 
other designated employee expenditure such as motor vehicles. It is intended that the manner of payment chosen will be 
optimal for the recipient without creating undue cost for the Company.

SUPERSERVICE.COM

23.

DIRECTORS’ REPORT

REMUNERATION REPORT (CONTINUED) - AUDITED 

Variable Compensation – Short Term Incentive (STI)

Objective

The objective of short term compensation is to link the achievement of both individual performance and Company 
performance with the compensation received by the executive.

Structure

The structure of short term compensation is a cash bonus dependent upon a combination of individual performance 
objectives and Company objectives being met. This reﬂ ects the Company wide practice of ‘Performance Planning & 
Review’ (PPR) procedures. Individual performance objectives centre on key focus areas. Company objectives include 
achieving budgetary targets that are set at the commencement of the ﬁ nancial year (adjusted where necessary for 
currency ﬂ uctuations). 

These performance conditions were chosen, in the case of individual performance objectives, to promote and maintain 
the individual’s focus on their own contribution to the Company’s strategic objectives through individual achievement in 
key result areas (KRAs) which include, for example, ‘leadership’, ‘decision making’, ‘results’ and ‘risk management’. In the 
case of Company objectives, budgetary performance conditions were chosen to promote and maintain a collaborative, 
Company wide focus on the achievement of those targets.

In assessing whether an individual performance condition has been satisﬁ ed, pre-agreed key performance indicators 
(KPIs) are used. In assessing whether Company objectives have been satisﬁ ed, Board level pre-determined budgetary 
targets are used. These methods have been chosen to create clear and measurable performance targets.

Variable Compensation – Long Term Incentive (LTI) 

Objective

The objective of the LTI plan is to reward executives in a manner which aligns this element of compensation with the 
creation of shareholder wealth. As such LTI grants are made to executives who are able to inﬂ uence the generation 
of shareholder wealth and thus have a direct impact on the Company’s performance against the relevant long term 
performance hurdle.

Structure

The structure of long term compensation is in the form of share options pursuant to the employee option and employee 
share plans. Performance hurdles have been introduced for all share options issued after 31 December 2004 and are 
determined upon grant of those share options. These hurdles typically relate to the Company’s share price reaching or 
exceeding a particular level. These methods were chosen to create clear and measurable performance expectations. 

Contract for Services 

The table and notes below summarise current executive employment contracts with the Company as at the date of this report:

Commencement date 
per latest contract

Karen Blunden

15 January 2012

Nick Georges

15 January 2012

Andrew Pattinson

15 January 2012

Jonathan Pollard

15 January 2012

Michael Roach

15 January 2012

Duration

Notice Period – Company Notice Period – Executive

3 years

3 years

3 years

3 years

3 years

3 months

3 months

3 months

3 months

3 months

3 months

3 months

3 months

3 months

3 months

The Company may terminate each of the contracts at any time without notice if serious misconduct has occurred. Options 
that have not yet vested upon termination will be forfeited.

24.

INFOMEDIA.COM

DIRECTORS’ REPORT

REMUNERATION REPORT (CONTINUED) - AUDITED

Key Management Personnel and the ﬁ ve highest remunerated speciﬁ ed executives for the year ended 30 June 2013 and 
30 June 2012.

Short-Term

Post 
Employment

Share Based 
Payments

Long Service 
leave

Termination 
payments

Total

Percentage 
Performance 
Related

Percentage 
Attributable 
to Options

2013 Financial 
Year:

Salary & 
Fees

Bonus

Non 
Monetary 
Beneﬁ ts

Superannuation Options

$

$

$

$

$

$

$

$

%

%

Directors:

Richard Graham

115,000

Myer Herszberg

56,300

Frances Hernon

56,250

Geoff  Henderson*

28,125

Executives:

-

-

-

-

-

-

-

-

10,350

5,067

5,062

2,531

-

-

-

-

Karen Blunden

256,056

44,890

968

-

10,061

-

-

-

-

-

Nick Georges

202,000

38,380

Andrew Pattinson

292,000

55,480

Jonathan Pollard

234,000

44,460

Michael Roach

212,000

40,280

-

-

-

-

18,227

10,061

3,367

26,280

10,061

4,867

21,060

10,061

3,120

19,080

10,061

3,533

1,451,731

223,490

968

107,657

50,305

14,887

2012 Financial 
Year:

Directors:

Richard Graham

115,000

Myer Herszberg

56,300

Frances Hernon

56,250

Geoff  Henderson*

49,111

Executives:

-

-

-

-

-

-

-

-

10,350

5,067

5,062

4,420

-

-

-

-

Karen Blunden

208,155

47,121

707

-

8,871

-

-

-

-

-

Nick Georges

202,000

32,595

Andrew Pattinson

285,769

46,261

Jonathan Pollard

228,462

37,182

Michael Roach

204,795

33,169

-

-

-

-

18,808

6,983

25,719

20,562

7,473

7,394

3,367

4,867

2,730

18,519

7,409

3,533

1,405,842

196,328

707

108,507

38,130

14,497

*Resigned 3rd January 2013

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

125,350

61,367

61,312

30,656

311,975

272,035

388,688

312,701

284,954

1,849,038

125,350

61,367

61,312

53,531

264,854

263,753

370,089

296,330

267,425

1,764,011

-

-

-

-

14%

14%

14%

14%

14%

-

-

-

-

18%

12%

12%

13%

12%

-

-

-

-

3%

4%

3%

3%

4%

-

-

-

-

3%

3%

2%

2%

3%

The amounts above are based on individual contracts with each person. The proportion of remuneration that is based on performance is 

dependent on their individual achievement of KPI’s.

SUPERSERVICE.COM

25.

DIRECTORS’ REPORT

REMUNERATION REPORT (CONTINUED) - AUDITED

Compensation options: Vested during the year 30 June 2013

Terms and Conditions for each Grant

Vested

Exercised

Executives

Options 
Issued No.

Grant date

Fair value 
per option 
at grant 
date ($)

Exercise 
price per 
option ($)

Expiry date

No.

%

No.

%

Andrew Pattinson

450,000

15/01/2012

Nick Georges

450,000

15/01/2012

Michael Roach

450,000

15/01/2012

Karen Blunden

450,000

15/01/2012

Jonathan Pollard

450,000

15/01/2012

Total

2,250,000

0.050

0.050

0.050

0.050

0.050

0.19

0.19

0.19

0.19

0.19

14/03/2015

150,000

33.3%

-

0.0%

14/03/2015

150,000

33.3%

150,000

33.3%

14/03/2015

150,000

33.3%

-

0.0%

14/03/2015

150,000

33.3%

150,000

33.3%

14/03/2015

150,000

33.3%

-

750,000

33.3%

300,000

0.0%

40%

Compensation options: Vested during the year 30 June 2012

Terms and Conditions for each Grant

Vested

Exercised

Executives

Options 
Issued No.

Grant date

Fair value 
per option 
at grant 
date ($)

Exercise 
price per 
option ($)

Expiry date

No.

%

No.

%

Andrew Pattinson

450,000

15/01/2012

Nick Georges

450,000

15/01/2012

Michael Roach

450,000

15/01/2012

Karen Blunden

450,000

15/01/2012

Jonathan Pollard

450,000

15/01/2012

Total

2,250,000

0.050

0.050

0.050

0.050

0.050

0.19

0.19

0.19

0.19

0.19

14/03/2015

14/03/2015

14/03/2015

14/03/2015

14/03/2015

-

-

-

-

-

-

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

-

-

-

-

-

-

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Additional information
Executive rewards are linked to the creation of shareholder value by providing incentives that positively impact the earnings 
of the company. The earnings of the consolidated entity for the ﬁ ve years to 30 June 2013 are summarised below:

 2009

$’000

 2010

$’000

2011

$’000

2012

$’000

2013

$’000

EBITDA

EBIT

 15,857 

 18,175 

 18,788 

17,653 

20,104

 12,415 

 14,430 

 13,172

11,087 

11,974 

Proﬁ t after income tax

 10,536 

 11,336 

 10,039

8,461 

10,066 

The factors that are considered to aff ect total shareholders return (‘TSR’) are summarised below:

2009

$’000

2010

$’000

2011

$’000

2012

$’000

2013

$’000

Dividends per share (cents)

Share price at ﬁ nancial year end (cents)

2.80

30.0

2.40

28.0

2.40

22.0

2.40

20.0

2.82

47.0

This concludes the remuneration report, which has been audited.

26.

INFOMEDIA.COM

DIRECTORS’ MEETINGS

The number of meetings of Directors (including meetings of committees of Directors) held during the year and the 
numbers of meetings attended by each Director were as follows:

DIRECTORS’ REPORT

 Committee Meetings

Directors’ Meetings

Audit, Risk & Governance**

Number of meetings held:

Number of meetings attended:

Richard Graham

Myer Herszberg

Frances Hernon

Geoff rey Henderson*

*Resigned 3rd January 2013

9

9

8

9

5

2

-

2

2

2

** Functions of the Audit, Risk & Governance Committee were assumed by the Board on 3 January 2013 

ROUNDING

The amounts contained in this report and in the ﬁ nancial report have been rounded to the nearest $1,000 (where rounding 
is applicable) under the option available to the Company under ASIC Class Order 98/0100. The Company is an entity to 
which the Class Order applies.

INDEMNITY AND INSURANCE OF AUDITOR

The company has not, during or since the ﬁ nancial year, indemniﬁ ed or agreed to indemnify the auditor of the company or 
any related entity against a liability incurred by the auditor. During the ﬁ nancial year, the company has not paid a premium 
in respect of a contract to insure the auditor of the company or any related entity.

NON-AUDIT SERVICES

Details of the amounts paid or payable to the auditor for non-audit services provided during the ﬁ nancial year by the 
auditor are outlined in note 22 to the ﬁ nancial statements.

The directors are satisﬁ ed that the provision of non-audit services during the ﬁ nancial year, by the auditor (or by another 
person or ﬁ rm on the auditor’s behalf), is compatible with the general standard of independence for auditors imposed by 
the Corporations Act 2001.

The directors are of the opinion that the services as disclosed in note 22 to the ﬁ nancial statements do not compromise 
the external auditor’s independence for the following reasons:

all non-audit services have been reviewed and approved to ensure that they do not impact the integrity and objectivity of 
the auditor, and

none of the services undermine the general principles relating to auditor independence as set out in APES 110 Code 
of Ethics for Professional Accountants issued by the Accounting Professional and Ethical Standards Board, including 
reviewing or auditing the auditor’s own work, acting in a management or decision-making capacity for the company, acting 
as advocate for the company or jointly sharing economic risks and rewards.

AUDITOR INDEPENDENCE

The Directors received an auditor’s independence declaration from the auditor of the Company (refer page 28).

Signed in accordance with a resolution of the Directors.

Richard David Graham 
Chairman
Sydney, 21 August 2013

SUPERSERVICE.COM

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(cid:69)(cid:92)(cid:3)(cid:74)(cid:88)(cid:68)(cid:85)(cid:68)(cid:81)(cid:87)(cid:72)(cid:72)(cid:15)(cid:3)(cid:68)(cid:81)(cid:71)(cid:3)(cid:73)(cid:82)(cid:85)(cid:80)(cid:3)(cid:83)(cid:68)(cid:85)(cid:87)(cid:3)(cid:82)(cid:73)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:76)(cid:81)(cid:87)(cid:72)(cid:85)(cid:81)(cid:68)(cid:87)(cid:76)(cid:82)(cid:81)(cid:68)(cid:79)(cid:3)(cid:37)(cid:39)(cid:50)(cid:3)(cid:81)(cid:72)(cid:87)(cid:90)(cid:82)(cid:85)(cid:78)(cid:3)(cid:82)(cid:73)(cid:3)(cid:76)(cid:81)(cid:71)(cid:72)(cid:83)(cid:72)(cid:81)(cid:71)(cid:72)(cid:81)(cid:87)(cid:3)(cid:80)(cid:72)(cid:80)(cid:69)(cid:72)(cid:85)(cid:3)(cid:73)(cid:76)(cid:85)(cid:80)(cid:86)(cid:17)(cid:3)(cid:47)(cid:76)(cid:68)(cid:69)(cid:76)(cid:79)(cid:76)(cid:87)(cid:92)(cid:3)(cid:79)(cid:76)(cid:80)(cid:76)(cid:87)(cid:72)(cid:71)(cid:3)(cid:69)(cid:92)(cid:3)(cid:68)(cid:3)(cid:86)(cid:70)(cid:75)(cid:72)(cid:80)(cid:72)(cid:3)(cid:68)(cid:83)(cid:83)(cid:85)(cid:82)(cid:89)(cid:72)(cid:71)(cid:3)(cid:88)(cid:81)(cid:71)(cid:72)(cid:85)(cid:3)(cid:51)(cid:85)(cid:82)(cid:73)(cid:72)(cid:86)(cid:86)(cid:76)(cid:82)(cid:81)(cid:68)(cid:79)(cid:3)(cid:54)(cid:87)(cid:68)(cid:81)(cid:71)(cid:68)(cid:85)(cid:71)(cid:86)(cid:3)
(cid:47)(cid:72)(cid:74)(cid:76)(cid:86)(cid:79)(cid:68)(cid:87)(cid:76)(cid:82)(cid:81)(cid:3)(cid:11)(cid:82)(cid:87)(cid:75)(cid:72)(cid:85)(cid:3)(cid:87)(cid:75)(cid:68)(cid:81)(cid:3)(cid:73)(cid:82)(cid:85)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:68)(cid:70)(cid:87)(cid:86)(cid:3)(cid:82)(cid:85)(cid:3)(cid:82)(cid:80)(cid:76)(cid:86)(cid:86)(cid:76)(cid:82)(cid:81)(cid:86)(cid:3)(cid:82)(cid:73)(cid:3)(cid:73)(cid:76)(cid:81)(cid:68)(cid:81)(cid:70)(cid:76)(cid:68)(cid:79)(cid:3)(cid:86)(cid:72)(cid:85)(cid:89)(cid:76)(cid:70)(cid:72)(cid:86)(cid:3)(cid:79)(cid:76)(cid:70)(cid:72)(cid:81)(cid:86)(cid:72)(cid:72)(cid:86)(cid:12)(cid:3)(cid:76)(cid:81)(cid:3)(cid:72)(cid:68)(cid:70)(cid:75)(cid:3)(cid:54)(cid:87)(cid:68)(cid:87)(cid:72)(cid:3)(cid:82)(cid:85)(cid:3)(cid:55)(cid:72)(cid:85)(cid:85)(cid:76)(cid:87)(cid:82)(cid:85)(cid:92)(cid:3)(cid:82)(cid:87)(cid:75)(cid:72)(cid:85)(cid:3)(cid:87)(cid:75)(cid:68)(cid:81)(cid:3)(cid:55)(cid:68)(cid:86)(cid:80)(cid:68)(cid:81)(cid:76)(cid:68)(cid:17)(cid:3)(cid:3)

(cid:37)(cid:39)(cid:50)(cid:3)(cid:76)(cid:86)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:69)(cid:85)(cid:68)(cid:81)(cid:71)(cid:3)(cid:81)(cid:68)(cid:80)(cid:72)(cid:3)(cid:73)(cid:82)(cid:85)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:37)(cid:39)(cid:50)(cid:3)(cid:81)(cid:72)(cid:87)(cid:90)(cid:82)(cid:85)(cid:78)(cid:3)(cid:68)(cid:81)(cid:71)(cid:3)(cid:73)(cid:82)(cid:85)(cid:3)(cid:72)(cid:68)(cid:70)(cid:75)(cid:3)(cid:82)(cid:73)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:37)(cid:39)(cid:50)(cid:3)(cid:80)(cid:72)(cid:80)(cid:69)(cid:72)(cid:85)(cid:3)(cid:73)(cid:76)(cid:85)(cid:80)(cid:86)(cid:17)(cid:3)

(cid:3)

(cid:3)

(cid:3)

(cid:3)

(cid:3)

(cid:20)(cid:22)(cid:3)

STATEMENT OF PROFIT & LOSS AND 
OTHER COMPREHENSIVE INCOME

YEAR ENDED 30 June 2013

Notes

CONSOLIDATED

Sales revenue

Foreign exchange movement on hedges closed out during the period

Cost of sales

Gross Proﬁ t

Finance revenue

Employee beneﬁ ts expense

Depreciation and amortisation

Finance costs

Operating lease rental

Capitalisation of research & development costs

Other expenses

Proﬁ t before income tax 

Income tax expense

Proﬁ t after income tax 

Other comprehensive income

Items that may be subsequently reclassiﬁ ed to proﬁ t or loss

Foreign currency translation diff erences for foreign operations

Eff ective cashﬂ ow hedges movement recognised in equity

Other comprehensive income for the period, net of tax

Total comprehensive income for the period

Basic earnings per share (cents per share)

Diluted earnings per share (cents per share)

Dividends per share  - ordinary (cents per share)

The notes of pages 33 to 66 form part of these ﬁ nancial statements

2013

$’000

48,689

989

49,678

(19,299)

30,379

76

(10,908)

(8,130)

-

(1,208)

7,417

(5,576)

12,050

(1,984)

10,066

854

(1,240)

(386)

9,680

3.32

3.29

2.82

3(i)

3(ii)

3(iii)

3(iv)

4

5

5

6

2012

$’000

45,677

2,620

48,297

(19,278)

29,019

151

(10,674)

(6,567)

(50)

(1,197)

6,396

(5,890)

11,188

(2,727)

8,461

(192)

(978)

(1,170)

7,291

2.79

2.79

2.40

SUPERSERVICE.COM

29.

STATEMENT OF FINANCIAL POSITION

AT 30 June 2013

Notes

CONSOLIDATED

CURRENT ASSETS

Cash and cash equivalents

Trade and other receivables 

Inventories

Prepayments

Derivatives

TOTAL CURRENT ASSETS

NON-CURRENT ASSETS

Property, plant and equipment

Intangible assets and goodwill

TOTAL NON-CURRENT ASSETS

TOTAL ASSETS

CURRENT LIABILITIES

Trade and other payables 

Derivatives

Provisions

Income tax payable

Deferred revenue 

TOTAL CURRENT LIABILITIES

NON-CURRENT LIABILITIES

Provisions

Deferred tax liabilities

TOTAL NON-CURRENT LIABILITIES

TOTAL LIABILITIES

NET ASSETS

EQUITY 

Contributed equity

Reserves

Retained proﬁ ts

TOTAL EQUITY

The notes of pages 33 to 66 form part of these ﬁ nancial statements

17(b)

7

8

26

9

10

12

26

13

14

15

4

16

16

2013

$’000

9,299

5,304

1

1,214

-

15,818

1,438

34,359

35,797

51,615

2,634

2,193

2,039

611

668

8,145

448

4,854

5,302

13,447

38,168

10,855

147

27,166

38,168

2012

$’000

6,646

4,033

7

1,015

693

12,394

1,389

34,106

35,495

47,889

2,901

-

1,812

835

564

6,112

425

5,107

5,532

11,644

36,245

10,798

337

25,110

36,245

30.

INFOMEDIA.COM

STATEMENT OF CASH FLOWS

YEAR ENDED 30 June 2013

Notes

CONSOLIDATED

CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from customers

Payments to suppliers and employees

Interest received

Interest paid

Income tax paid

NET CASH FLOWS FROM OPERATING ACTIVITIES

17 (a)

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of property, plant and equipment

Payment for purchase of business, net of cash acquired

NET CASH FLOWS USED IN INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from issue of share options

Dividends paid on ordinary shares

Proceeds of borrowings

Repayment of borrowings

NET CASH FLOWS USED IN FINANCING ACTIVITIES

NET INCREASE/(DECREASE) IN CASH HELD

Add opening cash brought forward

CLOSING CASH CARRIED FORWARD

The notes of pages 33 to 66 form part of these ﬁ nancial statements

16

6

17 (b)

2013

$’000

49,128

(36,012)

76

-

(1,944)

11,248

(642)

-

(642)

57

(8,010)

-

-

(7,953)

2,653

6,646

9,299

2012

$’000

48,250

(35,464)

151

(50)

(3,148)

9,739

(534)

(4,616)

(5,150)

-

(6,763)

3,748

(3,748)

(6,763)

(2,174)

8,820

6,646

SUPERSERVICE.COM

31.

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 30 June 2013

CONSOLIDATED

Contributed 
equity

Retained 
earnings

Employee 
equity beneﬁ ts 
reserve

Cashﬂ ow 
hedge 
reserve

Foreign 
currency 
translation 
reserve

Total

$’000

10,798

-

-

-

57

-

-

$’000

25,110

10,066

-

10,066

-

-

(8,010)

10,855

27,166

$’000

$’000

$’000

$’000

56

-

-

-

-

196

-

252

485

-

(1,240)

(1,240)

-

-

-

(204)

36,245

-

854

854

-

-

-

10,066

(386)

9,680

57

196

(8,010)

(755)

650

38,168

At 1 July 2012

Proﬁ t for the year

Other comprehensive income

Total comprehensive income for the year

Transactions with owners in their 
capacity as owners

Share options exercised

Share based payments

Equity dividends

At 30 June 2013

YEAR ENDED 30 June 2012

CONSOLIDATED

Contributed 
equity

Retained 
earnings

Employee 
equity beneﬁ ts 
reserve

Cashﬂ ow 
hedge 
reserve

At 1 July 2011

Proﬁ t for the year

Other comprehensive income

Total comprehensive income for the year

Transactions with owners in their capacity     
as owners
Transfer

Share buy back

Equity dividends

At 30 June 2012

$’000

10,798

-

-

-

-

-

-

10,798

$’000

22,206

8,461

-

8,461

1,206

-

(6,763)

25,110

$’000

1,210

-

-

-

(1,206)

52

-

56

The notes of pages 33 to 66 form part of these ﬁ nancial statements

Foreign 
currency 
translation 
reserve

$’000

(12)

-

(192)

(192)

-

-

-

 Total

$’000

35,665

8,461

(1,170)

7,291

-

52

(6,763)

36,245

$’000

1,463

-

(978)

(978)

-

-

-

485

(204)

32.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

1. CORPORATE INFORMATION

The ﬁ nancial report of Infomedia Ltd for the year ended 30 June 2013 was authorised for issue in accordance with a 
resolution of the Directors on 21 August 2013.

Infomedia Ltd is a company limited by shares incorporated and domiciled in Australia whose shares are publicly traded 
on the Australian stock exchange (ASX:IFM). The nature of the operations and principal activities of the Company are 
described in the Directors’ Report.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 

(a)  Basis of preparation

The ﬁ nancial report is a general-purpose ﬁ nancial report, which has been prepared in accordance with the requirements 
of the Corporations Act 2001 and Australian Accounting Standards and Interpretations as appropriate for proﬁ t oriented 
entities. The ﬁ nancial report has also been prepared on an historical cost basis, except for derivative ﬁ nancial instruments 
that have been measured at fair value.

(b)  Statement of compliance

This ﬁ nancial report complies with Australian Accounting Standards as issued by the Australian Accounting Standards 
Board. This ﬁ nancial report also complies with the International Financial Reporting Standards (IFRS) as issued by the 
International Accounting Standards Board.

New, revised or amending Accounting Standards and Interpretations adopted

The consolidated entity has adopted all of the new, revised or amending Accounting Standards and Interpretations issued 
by the Australian Accounting Standards Board (‘AASB’) that are mandatory for the current reporting period.

Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early 
adopted.

Any signiﬁ cant impact on the accounting policies of the consolidated entity from the adoption of these Accounting 
Standards and Interpretations are disclosed below. The adoption of these Accounting Standards and Interpretations did 
not have any signiﬁ cant impact on the ﬁ nancial performance or position of the consolidated entity.

The following Accounting Standards and Interpretations are most relevant to the consolidated entity:

AASB 2011-9 Amendments to Australian Accounting Standards - Presentation of Items of Other Comprehensive Income

The consolidated entity has applied AASB 2011-9 amendments from 1 July 2012. The amendments requires grouping 
together of items within other comprehensive income on the basis of whether they will eventually be ‘recycled’ to the 
proﬁ t or loss (reclassiﬁ cation adjustments). The change provides clarity about the nature of items presented as other 
comprehensive income and the related tax presentation. The amendments also introduced the term ‘Statement of proﬁ t or 
loss and other comprehensive income’ clarifying that there are two discrete sections, the proﬁ t or loss section (or separate 
statement of proﬁ t or loss) and other comprehensive income section.

New Accounting Standards and Interpretations not yet mandatory or early adopted

Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet 
mandatory, have not been early adopted by the consolidated entity for the annual reporting period ended 30 June 2013. 
The consolidated entity’s assessment of the impact of these new or amended Accounting Standards and Interpretations, 
most relevant to the consolidated entity, are set out below.

AASB 9 Financial Instruments, 2009-11 Amendments to Australian Accounting Standards arising from AASB 9, 2010-7 
Amendments to Australian Accounting Standards arising from AASB 9 and 2012-6 Amendments to Australian Accounting 
Standards arising from AASB 9

This standard and its consequential amendments are applicable to annual reporting periods beginning on or after 1 
January 2015 and completes phase I of the IASB’s project to replace IAS 39 (being the international equivalent to AASB 
139 ‘Financial Instruments: Recognition and Measurement’). This standard introduces new classiﬁ cation and measurement 
models for ﬁ nancial assets, using a single approach to determine whether a ﬁ nancial asset is measured at amortised cost 
or fair value. The accounting for ﬁ nancial liabilities continues to be classiﬁ ed and measured in accordance with AASB 139, 
with one exception, being that the portion of a change of fair value relating to the entity’s own credit risk is to be presented 
in other comprehensive income unless it would create an accounting mismatch. The consolidated entity will adopt this 
standard from 1 July 2015. Once phase 2 and 3 of this standard are completed is likely to impact the hedge 

SUPERSERVICE.COM

33.

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

accounting treatment of forward exchange contracts held by the consolidated entity, as the mark to market value of both 
intrinsic and timing elements of open hedge instruments shall be recognised in other comprehensive income rather than 
proﬁ t or loss.

(c) Basis of consolidation

The consolidated ﬁ nancial statements comprise the ﬁ nancial statements of Infomedia Ltd and its subsidiaries (‘the 
Company’). The ﬁ nancial statements of subsidiaries are prepared for the same reporting period as the parent company, 
using consistent accounting policies. Adjustments are made to bring into line any dissimilar accounting policies that may 
exist. All intercompany balances and transactions, including unrealised proﬁ ts arising from intra-group transactions, have 
been eliminated in full. Unrealised losses are eliminated unless costs cannot be recovered. Subsidiaries are consolidated 
from the date on which control is transferred to the Company and cease to be consolidated from the date on which control 
is transferred out of the Company. Where there is loss of control of a subsidiary, the consolidated ﬁ nancial statements 
include the results for the part of the reporting period during which Infomedia Ltd has control.

(d) Signiﬁ cant accounting judgments, estimates and assumptions

Signiﬁ cant accounting estimates and assumptions

The carrying amounts of certain assets and liabilities are often determined based on estimates and assumptions of future 
events. The key estimates and assumptions that have a signiﬁ cant risk of causing a material adjustment to the carrying 
amounts of certain assets and liabilities within the next annual reporting period are:

• 

Impairment of goodwill

The Company determines whether goodwill is impaired at least on an annual basis. This requires an estimation of the 
recoverable amount of the cash generating units to which the goodwill and intangibles with indeﬁ nite useful lives are 
allocated. The assumptions used in this estimation of recoverable amount and the carrying amount of goodwill and 
intangibles with indeﬁ nite useful lives are discussed in Note 11.

•  Share-based payment transactions

The Company measures the cost of equity-settled transactions with employees by reference to the fair value of the 
equity instruments at the date at which they are granted. The fair value is determined by an external valuer using a 
binomial model, using the assumptions detailed in Note 19.

•  Research & Development

Development costs are only capitalised by the Group when it is assessed that the technical feasibility of completing the 
intangible asset is valid so that the asset will be available for use or sale. Refer to note 2(k) for further discussion.

(e) Foreign currency translation

Translation of foreign currency transactions

Transactions in foreign currencies of the Company are converted to local currency at the rate of exchange ruling at the 
date of the transaction.

Amounts payable to and by the Company that are outstanding at the balance date and are denominated in foreign 
currencies have been converted to local currency using rates of exchange ruling at the end of the reporting period.

All currency exchange diff erences in the consolidated ﬁ nancial report are taken to the income statement.

Translation of ﬁ nancial reports of overseas operations

Both the functional and presentation currency of Infomedia Ltd is Australian dollars (A$).

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange 
rate as at the date of the initial transaction.

The functional currency of the overseas subsidiaries is as follows: 

IFM Europe Ltd               

Great British Pounds (GBP)

IFM Germany GmbH          

Euros (EUR)

IFM North America Inc         

United States Dollars (USD)

Diff erent Aspect Software Ltd    Great British Pounds (GBP)

34.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

As at the reporting date the assets and liabilities of these overseas subsidiaries are translated into the presentation 
currency of Infomedia Ltd at the rate of exchange ruling at the balance sheet date and the income statements are 
translated at the weighted average exchange rates for the period.

The exchange diff erences arising on the retranslation are taken directly to a separate component of equity.

(f)  Cash and cash equivalents

Cash on hand and in banks and short-term deposits are stated at nominal values.

For the purposes of the Statement of Cash Flows, cash includes cash on hand and in banks, and money market investments 
readily convertible to cash within three months, net of outstanding bank overdrafts.

(g)  Trade and other receivables

Trade receivables, which generally have 30-60 day terms, are recognised and carried at original invoice amount less an 
allowance for any uncollectible amounts.

An allowance for doubtful debts is made when there is objective evidence that the Company will not be able to collect the 
debts. Bad debts are written off  when identiﬁ ed.

(h)  Investments and other ﬁ nancial assets

Financial assets in the scope of AASB 139 Financial Instruments: Recognition and Measurement are classiﬁ ed as either 
ﬁ nancial assets at fair value through proﬁ t or loss, loans and receivables, held-to-maturity investments, or available-for-sale 
investments, as appropriate. For the Company the relevant categories are listed below:

Loans and receivables

Loans and receivables are non-derivative ﬁ nancial assets with ﬁ xed or determinable payments that are not quoted 
in an active market. Such assets are carried at amortised cost using the eff ective interest method. Gains and losses 
are recognised in proﬁ t or loss when the loans and receivables are derecognised or impaired, as well as through the 
amortisation process.

Investments in Subsidiaries

Investments in subsidiaries are recorded at cost.

(i)  Inventories

Inventories are valued at the lower of cost and net realisable value.

Costs incurred in bringing each product to its present location and condition are accounted for as follows:

•  Raw materials – purchase cost on a ﬁ rst-in-ﬁ rst-out basis

( j)  Goodwill

Goodwill acquired in a business combination is initially measured at cost being the excess of the cost of the business 
combination over the Company’s interest in the net fair value of the acquiree’s identiﬁ able assets, liabilities and contingent 
liabilities.

Following initial recognition, goodwill is measured at cost less any accumulated impairment losses.

Goodwill is reviewed for impairment annually or more frequently if events or changes in circumstances indicate that the 
carrying value may be impaired.

For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated 
to each of the Company’s cash-generating units, or groups of cash generating units, that are expected to beneﬁ t from the 
synergies of the combination, irrespective of whether other assets or liabilities of the Company are assigned to those units 
or groups of units.

Each unit or group of units to which the goodwill is so allocated:

•  

represents the lowest level within the Company at which the goodwill is monitored for internal management purposes; and

•  

is not larger than a segment based on either the Company’s primary or the Company’s secondary reporting format 
determined in accordance with AASB 8 Operating Segments.

Impairment is determined by assessing the recoverable amount of the cash-generating unit (group of cash-generating 
units), to which the goodwill relates. When the recoverable amount of the cash-generating unit (group of cash-generating 

SUPERSERVICE.COM

35.

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

units) is less than the carrying amount, an impairment loss is recognised. When goodwill forms part of a cash-generating 
unit (group of cash-generating units) and an operation within that unit is disposed of, the goodwill associated with the 
operation disposed of is included in the carrying amount of the operation when determining the gain or loss on disposal of 
the operation. Goodwill disposed of in this manner is measured based on the relative values of the operation disposed of 
and the portion of the cash generating unit retained.

Impairment losses recognised for goodwill are not subsequently reversed.

(k) Intangible assets

Intangible assets acquired separately or in a business combination are initially measured at cost. The cost of an intangible 
asset acquired in a business combination is its fair value as at the date of acquisition. Following initial recognition, 
intangible assets are carried at cost less any accumulated amortisation and any accumulated impairment losses. Internally 
generated intangible assets, excluding capitalised development costs, are not capitalised and expenditure is charged 
against proﬁ ts in the year in which the expenditure is incurred.

Research costs are expensed as incurred. Development costs are capitalised and an intangible asset for development 
expenditure on an internal project is recognised only when the Company can demonstrate the technical feasibility 
of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to 
use or sell the asset, how the asset will generate future economic beneﬁ ts, the availability of resources to complete 
the development and the ability to measure reliably the expenditure attributable to the intangible asset during its 
development. Following the initial recognition of the development expenditure, the cost model is applied requiring the 
asset to be carried at cost less any accumulated amortisation and accumulated impairment losses. Any expenditure so 
capitalised is amortised over the period of expected beneﬁ ts from the related project commencing from the commercial 
release of the project.

The carrying value of an intangible asset arising from development expenditure is tested for impairment annually when the 
asset is not yet available for use or more frequently when an indication of impairment arises during the reporting period.

Gains or losses arising from derecognition of an intangible asset are measured as the diff erence between the net disposal 
proceeds and the carrying amount of the asset and are recognised in proﬁ t or loss when the asset is derecognised.

The useful lives of intangible assets are assessed to be either ﬁ nite or indeﬁ nite. Intangible assets with ﬁ nite lives are 
amortised over the useful life and assessed for impairment whenever there is an indication that the intangible asset 
may be impaired. The amortisation period and the amortisation method for an intangible asset with a ﬁ nite useful life is 
reviewed at least at each ﬁ nancial year-end. Changes in the expected useful life or the expected pattern of consumption 
of future economic beneﬁ ts embodied in the asset are accounted for by changing the amortisation period or method, as 
appropriate, which is a change in accounting estimate. The amortisation expense on intangible assets with ﬁ nite lives is 
recognised in proﬁ t or loss in the expense category consistent with the function of the intangible asset.

Intangible assets with indeﬁ nite useful lives are tested for impairment annually either individually or at the cash-generating 
unit level. Such intangibles are not amortised. The useful life of an intangible asset with an indeﬁ nite life is reviewed 
each reporting period to determine whether indeﬁ nite life assessment continues to be supportable. If not, the change 
in the useful life assessment from indeﬁ nite to ﬁ nite is accounted for as a change in an accounting estimate and is thus 
accounted for on a prospective basis.

(l) Impairment of assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any 
such indication exists, or when annual impairment testing for an asset is required, the Company makes an estimate of 
the asset’s recoverable amount. An asset’s recoverable amount is the higher of its fair value less costs to sell and its 
value in use and is determined for an individual asset, unless the asset does not generate cash inﬂ ows that are largely 
independent of those from other assets or groups of assets and the asset’s value in use cannot be estimated to be close 
to its fair value. In such cases the asset is tested for impairment as part of the cash generating unit to which it belongs. 
When the carrying amount of an asset or cash-generating unit exceeds its recoverable amount, the asset or cash-
generating unit is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash ﬂ ows are discounted to their present value using a pre-tax discount rate 
that reﬂ ects current market assessments of the time value of money and the risks speciﬁ c to the asset. Impairment losses 
relating to continuing operations are recognised in those expense categories consistent with the function of the impaired 
asset unless the asset is carried at revalued amount (in which case the impairment loss is treated as a revaluation decrease).

An assessment is also made at each reporting date as to whether there is any indication that previously recognised 
impairment losses may no longer exist or may have decreased. If such indication exists, the recoverable amount is 

36.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

estimated. A previously recognised impairment loss is reversed (with the exception of goodwill) only if there has been a 
change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. 
If that is the case the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot 
exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been 
recognised for the asset in prior years. Such reversal is recognised in proﬁ t or loss unless the asset is carried at revalued 
amount, in which case the reversal is treated as a revaluation increase. After such a reversal the depreciation charge is 
adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis 
over its remaining useful life.

(m) Property, plant and equipment

Property, plant and equipment is stated at cost less accumulated depreciation and any accumulated impairment losses. 

Land and buildings are measured at cost less accumulated depreciation on buildings and less any impairment losses recognised.

Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:

Major depreciation periods are: 

2013 

2012 

Leasehold improvements: 

5 to 20 years 

5 to 20 years 

Other plant and equipment: 

3 to 15 years 

3 to 15 years 

The assets’ residual values, useful lives and amortisation methods are reviewed, and adjusted if appropriate, at each 
ﬁ nancial year end.

(i)   Derecognition and disposal

An item of property, plant and equipment is derecognised upon disposal or when no further future economic beneﬁ ts are 
expected from its use or disposal.

Any gain or loss arising on derecognition of the asset (calculated as the diff erence between the net disposal proceeds and 
the carrying amount of the asset) is included in proﬁ t or loss in the year the asset is derecognised.

(n)  Leases

Operating lease payments are recognised as an expense in the statement of proﬁ t & loss and other comprehensive 
on a straight-line basis over the lease term. Lease incentives are recognised in the statement of proﬁ t & loss and other 
comprehensive income as an integral part of the total lease expense.

(o)  Trade and other payables

Trade payables and other payables are carried at amortised cost and represent liabilities for goods and services provided 
to the Company prior to the end of the ﬁ nancial year that are unpaid and arise when the Company becomes obliged to 
make future payments in respect of the purchase of these goods and services.

(p)  Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, 
it is probable that an outﬂ ow of resources embodying economic beneﬁ ts will be required to settle the obligation and a 
reliable estimate can be made of the amount of the obligation.

Where discounting is used, the increase in the provision due to the passage of time is recognised as a borrowing cost.

(q)  Deferred revenue

Certain contracts allow annual subscriptions to be invoiced in advance. The components of revenue relating to the 
subscription period beyond balance date are recorded as a liability. 

(r)   Contributed equity

Ordinary shares are classiﬁ ed as equity. Incremental costs directly attributable to the issue of new shares or options are 
shown in equity as a deduction, net of tax, from the proceeds.

(s)  Revenue recognition

Revenue is recognised to the extent that it is probable that the economic beneﬁ ts will ﬂ ow to the entity and the revenue 
can be reliably measured. The following speciﬁ c recognition criteria must also be met before revenue is recognised:

Subscriptions

Subscription revenue is recognised when the copyright article has passed to the buyer with related support revenue being 

SUPERSERVICE.COM

37.

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

recognised over the service period. Where the copyright article and related support revenue are inseparable then the 
revenue is recognised over the service period.

Interest

Control of a right to receive consideration for the provision of, or investment in, assets has been attained. Interest is 
recognised using the eff ective interest method.

(t)  Cost of sales

Cost of sales includes the direct cost of raw materials, direct salary and wages, and agency costs associated with the 
manufacture and distribution of the product.

(u)  Derivative ﬁ nancial instruments and hedging

Derivatives are carried as assets when their fair value is positive and as liabilities when their fair value is negative. 
Derivative ﬁ nancial instruments are measured at fair value.

Any gains or losses arising from changes in the fair value of derivatives, except for those that qualify as cash ﬂ ow hedges, 
are taken directly to proﬁ t or loss for the year.

The fair value of forward currency contracts are calculated by reference to current forward exchange rates for contacts 
with similar maturity proﬁ les.

For the purpose of hedge accounting, hedges are classiﬁ ed as cash ﬂ ow hedges when they hedge the exposure to 
variability in cash ﬂ ows that is attributable either to a particular risk associated with a recognised asset or liability or to a 
highly probable forecast transaction. Infomedia Ltd currently has cash ﬂ ow hedges attributable to highly probable future 
foreign currency sales.

Cash ﬂ ow hedges

Cash ﬂ ow hedges are hedges of the Group’s exposure to variability in cash ﬂ ows that is attributable to a particular risk 
associated with anticipated future sales that could aff ect proﬁ t or loss. The eff ective portion of the gain or loss on the 
hedging instrument is recognised directly in equity, while the ineff ective portion is recognised in proﬁ t or loss.

Amounts taken to equity are transferred out of equity and included in the measurement of the hedged transaction when 
the forecast transaction occurs. The Group tests each of the designated cash ﬂ ow hedges for eff ectiveness on a monthly 
basis both retrospectively and prospectively using the “matched terms” principle.

At each balance date, hedge eff ectiveness is measured in the ﬁ rst instance by determining whether there have been any 
changes to these “matched terms”. When there have been no changes to these “matched terms”, the hedge is considered 
to be highly eff ective. Where there has been a change to these terms, eff ectiveness is measured using the hypothetical 
derivative method.

The parent entity (Infomedia Ltd) sells software to its customers and uses its subsidiary companies (i.e. IFM North America 
Inc and IFM Europe Ltd) to act as billing agents and provide sales and support services. Sales are denominated in USD and 
Euros. The Group hedges foreign exchange exposure on sales (net of sales and support service costs) as this exposure 
aff ects consolidated proﬁ t when the sale is made to the external customer.

(v) Income tax

Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered 
from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted 
or substantively enacted by the balance sheet date.

Deferred income tax is provided on all temporary diff erences at the balance sheet date between the tax bases of assets 
and liabilities and their carrying amounts for ﬁ nancial reporting purposes.

Deferred income tax liabilities are recognised for all taxable temporary diff erences except:

•   when the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a 

transaction that is not a business combination and that, at the time of the transaction, aff ects neither the accounting 
proﬁ t nor taxable proﬁ t or loss; or

•   when the taxable temporary diff erence is associated with investments in subsidiaries, associates or interests in joint 
ventures, and the timing of the reversal of the temporary diff erence can be controlled and it is probable that the 
temporary diff erence will not reverse in the foreseeable future.

38.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Deferred income tax assets are recognised for all deductible temporary diff erences, carry-forward of unused tax assets 
and unused tax losses, to the extent that it is probable that taxable proﬁ t will be available against which the deductible 
temporary diff erences and the carry-forward of unused tax credits and unused tax losses can be utilised, except:

•   when the deferred income tax asset relating to the deductible temporary diff erence arises from the initial recognition 
of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, aff ects 
neither the accounting proﬁ t nor taxable proﬁ t or loss; or

•   when the deductible temporary diff erence is associated with investments in subsidiaries, associates or interests in 

joint ventures, in which case a deferred tax asset is only recognised to the extent that it is probable that the temporary 
diff erence will reverse in the foreseeable future and taxable proﬁ t will be available against which the temporary 
diff erence can be utilised.

Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when 
the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively 
enacted at the balance sheet date.

Income taxes relating to items recognised directly in equity are recognised in equity and not in proﬁ t or loss.

Deferred tax assets and deferred tax liabilities are off set only if a legally enforceable right exists to set off  current tax 
assets against current tax liabilities and the deferred tax assets and liabilities relate to the same taxable entity and the 
same taxation authority.

The tax consolidated current tax liability and other deferred tax assets are required to be allocated to the members of the 
tax consolidated group in accordance with Interpretation 1052 – Tax Consolidation Accounting. The group uses a group 
allocation method for this purpose where the allocated current tax payable, deferred tax assets and other tax credits for 
each member of the tax consolidated group is determined as if the company is a stand-alone taxpayer but modiﬁ ed as 
necessary to recognise membership of a tax consolidated group. Recognition of amounts allocated to members of the tax 
consolidated group has regard to the tax consolidated groups future tax proﬁ ts. 

(w) Other taxes

Revenues, expenses and assets are recognised net of the amount of Goods and Services Tax (“GST”) except:

•   when the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case 
the GST is recognised as part of the cost of acquisition of the asset or as part of the expense item as applicable; and

•  

receivables and payables, which are stated with the amount of GST included.

The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or 
payables in the Statement of Financial Position.

Cash ﬂ ows are included in the Statement of Cash Flows on a net basis. The GST relating to sales and purchases is 
included in payments to employees and suppliers.

Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the taxation authority.

(x)  Employee leave beneﬁ ts

(i)   Wages, salaries and annual leave

Liabilities for wages and salaries, including non-monetary beneﬁ ts, and annual leave expected to be settled within 
12 months of the reporting date are recognised in other payables and current provisions respectively in respect of 
employees’ services up to the reporting date. They are measured at the amounts expected to be paid when the liabilities 
are settled. Liabilities for non-accumulating sick leave are recognised when the leave is taken and are measured at the 
rates paid or payable.

(ii)   Long service leave

The liability for long service leave is recognised in the provision for employee beneﬁ ts and measured as the present 
value of expected future payments to be made in respect of services provided by employees up to the reporting date. 
Consideration is given to expected future wage and salary levels, experience of employee departures, and period of 
service. Expected future payments are discounted using market yields at the reporting date on national government bonds 
with terms to maturity and currencies that match, as closely as possible, the estimated future cashﬂ ows.

SUPERSERVICE.COM

39.

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(iii) Post employment and termination beneﬁ ts

A Superannuation expense at 9% of salaries is recognised on a straight line basis. Termination beneﬁ ts are recognised at 
the point of being incurred where relevant.

(y)  Share-based payment transactions

The Company provides beneﬁ ts to employees in the form of share-based payment transactions, whereby employees 
render services in exchange for shares or options over shares (‘equity-settled transactions’).

There are currently two plans in place to provide these beneﬁ ts:

(i)   the Employee Share Plan (ESP), and

(ii)   the Employee Option Plan (EOP).

The cost of these equity-settled transactions with employees is measured by reference to the fair value at the date at 
which they are granted. The fair value is determined by an external valuer using a binomial model.

In valuing equity-settled transactions, no account is taken of any performance conditions, other than conditions linked to 
the price of the shares of Infomedia Ltd (‘market conditions’).

The cost of equity-settled transactions is recognised, together with a corresponding increase in equity, over the period in 
which the performance conditions are fulﬁ lled, ending on the date on which the relevant employees become fully entitled 
to the option (‘vesting date’).

The cumulative expense recognised for equity-settled transactions at each reporting date until vesting date reﬂ ects (i) 
the extent to which the vesting period has expired and (ii) the number of options that, in the opinion of the Directors of 
the Company, will ultimately vest. This opinion is formed based on the best available information at balance date. No 
adjustment is made for the likelihood of market performance conditions being met as the eff ect of these conditions is 
included in the determination of fair value at grant date.

Where the terms of an equity-settled option are modiﬁ ed, as a minimum an expense is recognised as if the terms had not 
been modiﬁ ed. In addition, an expense is recognised for any increase in the value of the transaction as a result of the 
modiﬁ cation, as measured at the date of modiﬁ cation.

Where an equity-settled option is cancelled, it is treated as if it had vested on the date of cancellation, and any expense 
not yet recognised for the option is recognised immediately. However, if a new option is substituted for the cancelled 
option, and designated as a replacement option on the date that it is granted, the cancelled and new option are treated as 
if they were a modiﬁ cation of the original option, as described in the previous paragraph.

The dilutive eff ect, if any, of outstanding options is reﬂ ected as additional share dilution in the computation of diluted 
earnings per share.

(z)  Earnings per share

Basic earnings per share is determined by dividing the proﬁ t attributed to members of the parent after related income tax 
expense by the weighted average number of ordinary shares outstanding during the ﬁ nancial year.

Diluted earnings per share is calculated as net proﬁ t attributable to members, adjusted for:

•  cost of servicing equity (other than dividends);

• 

the after tax eff ect of dividends and interest associated with dilutive potential ordinary shares that have been 
recognised as expenses; and

•  other non-discretionary changes in revenue or expenses during the period that would result from the dilution of 

potential ordinary shares; divided by the weighted average number of ordinary shares and dilutive potential ordinary 
shares, adjusted for any bonus element.

(aa) Business combinations

The acquisition method of accounting is used to account for business combinations regardless of whether equity 
instruments or other assets are acquired.

The consideration transferred is the sum of the acquisition-date fair values of the assets transferred, equity instruments 
issued or liabilities incurred by the acquirer to former owners of the acquiree and the amount of any non-controlling 
interest in the acquiree. For each business combination, the non-controlling interest in the acquiree is measured at either 

40.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

fair value or at the proportionate share of the acquiree’s identiﬁ able net assets. All acquisition costs are expensed as 
incurred to proﬁ t or loss.

On the acquisition of a business, the consolidated entity assesses the ﬁ nancial assets acquired and liabilities assumed for 
appropriate classiﬁ cation and designation in accordance with the contractual terms, economic conditions, the consolidated 
entity’s operating or accounting policies and other pertinent conditions in existence at the acquisition-date.

Where the business combination is achieved in stages, the consolidated entity remeasures its previously held equity 
interest in the acquiree at the acquisition-date fair value and the diff erence between the fair value and the previous 
carrying amount is recognised in proﬁ t or loss.

Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date fair value. Subsequent 
changes in the fair value of contingent consideration classiﬁ ed as an asset or liability is recognised in proﬁ t or loss. 
Contingent consideration classiﬁ ed as equity is not remeasured and its subsequent settlement is accounted for within equity.

The diff erence between the acquisition-date fair value of assets acquired, liabilities assumed and any non-controlling 
interest in the acquiree and the fair value of the consideration transferred and the fair value of any pre-existing investment 
in the acquiree is recognised as goodwill. If the consideration transferred and the pre-existing fair value is less than the fair 
value of the identiﬁ able net assets acquired, being a bargain purchase to the acquirer, the diff erence is recognised as a 
gain directly in proﬁ t or loss by the acquirer on the acquisition-date, but only after a reassessment of the identiﬁ cation and 
measurement of the net assets acquired, the non-controlling interest in the acquiree, if any, the consideration transferred 
and the acquirer’s previously held equity interest in the acquirer.

Business combinations are initially accounted for on a provisional basis. The acquirer retrospectively adjusts the 
provisional amounts recognised and also recognises additional assets or liabilities during the measurement period, based 
on new information obtained about the facts and circumstances that existed at the acquisition-date. The measurement 
period ends on either the earlier of (i) 12 months from the date of the acquisition or (ii) when the acquirer receives all the 
information possible to determine fair value.

SUPERSERVICE.COM

41.

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

3. EXPENSES

(i) Cost of sales

Direct wages

Other

Total cost of sales

(ii) Employee beneﬁ t expense

Salaries and wages (including on-costs)

Share based payment expense

Total employee beneﬁ t expense

(iii) Depreciation and amortisation

Depreciation of non-current assets:

- Leasehold improvements

- Offi  ce equipment

- Furniture and ﬁ ttings

- Plant and equipment

Total depreciation of non-current assets

Amortisation of non-current assets

- Intellectual property

- Deferred development costs

Total amortisation of non-current assets

Total depreciation and amortisation

(iv) Research & development costs

Total research & development costs incurred during the period

Less: development costs capitalised

Net research and development costs expensed

Notes

CONSOLIDATED

2013

$’000

2012

$’000

12,032

7,267

19,299

10,712

196

10,908

5

476

41

71

593

359

7,178

7,537

8,130

12,601

(7,417)

5,184

19

10

12,000

7,278

19,278

10,622

52

10,674

5

431

44

90

570

421

5,575

5,996

6,567

11,081

(6,396)

4,685

42.

INFOMEDIA.COM

  
NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

4. INCOME TAX

Notes

CONSOLIDATED

2013

$’000

2012

$’000

The major components of income tax expense are:

Income statement

Current income tax

Current income tax charge

Adjustments in respect of current income tax of previous years.

Deferred income tax

Relating to origination and reversal of temporary diff erences

Income tax expense reported in the income statement

(b) Disclosure of tax eff ects relating to each component of other comprehensive income

Movement in cash ﬂ ow hedges

2,404

(711)

291

1,984

(542)

(542)

2,809

(183)

101

2,727

(419)

(419)

A reconciliation between tax expense and the product of accounting proﬁ t before in-
come tax multiplied by the Company’s applicable income tax rate is as follows:

Accounting proﬁ t before income tax

12,050

11,189

At the Company’s statutory income tax rate of 30% (2012: 30%)

Adjustments in respect of income tax of previous years

Additional research and development deduction

Expenditure not allowable for income tax purposes

Income tax expense reported in the income statement

3,615

(487)

(1,214)

70

1,984

3,357

(158)

(531)

59

2,727

SUPERSERVICE.COM

43.

  
NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

4. INCOME TAX (CONTINUED)

Deferred income tax

Deferred income tax at 30 June relates to the following:

CONSOLIDATED

Deferred tax liabilities

Derivatives

Deferred development costs

Intellectual property

Notes

STATEMENT OF 
FINANCIAL POSITION

INCOME STATEMENT

2013

$’000

2012

$’000

2013

$’000

2012

$’000

658

(6,382)

-

(208)

(6,310)

-

(324)

72

-

Gross deferred income tax liabilities

(5,724)

(6,518)

CONSOLIDATED

Deferred tax assets

Allowance for doubtful debts

Other payables

Employee entitlement provisions

Other provisions

Currency exchange

Gross deferred income tax assets

Deferred tax income/ (expense)

18

76

567

68

141

870

27

93

616

418

259

1,411

9

17

49

350

118

291

-

245

(37)

(8)

24

(121)

2

(4)

101

Net deferred income tax liabilities

(4,854)

(5,107)

5. EARNINGS PER SHARE  

Basic earnings per share amounts are calculated by dividing net proﬁ t for the year attributable to ordinary equity holders of 
the parent by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings per share amounts are calculated by dividing the net proﬁ t attributable to ordinary shareholders by the 
weighted average number of ordinary shares outstanding during the year (adjusted for the eff ects of dilutive options).

The following reﬂ ects the income and share data used in the total operations basic and diluted earnings per share computations:

Net proﬁ t attributable to equity holders from continuing operations

Notes

CONSOLIDATED

2013

$’000

10,066

2012

$’000

8,461

Number of 
shares

Number of 
shares

Weighted average number of ordinary shares for basic earnings per share

303,382,350

303,276,855

Eff ect of dilution:

Share options

2,801,407

347,329

Adjusted weighted average number of ordinary shares for diluted earnings per share

306,183,757

303,624,184

Total equivalent shares outstanding on out-of-the-money options that were not dilutive for the respective periods but could 
potentially dilute earnings per share in the future were 0 (2012: 250,000).

44.

INFOMEDIA.COM

   
30 June 2013

Notes

CONSOLIDATED

NOTES TO THE FINANCIAL STATEMENTS

6.    DIVIDENDS PROPOSED OR PAID

(a) Dividends paid during the year:

Interim dividend – 1.27 cents franked to 0.5c (2012: 1.03 cents fully franked) per share

Prior year ﬁ nal dividend – 1.37 cents fully franked (2012: 1.2 cents, unfranked) per 
share

    Total dividends paid during the year

(b) Dividends proposed and not recognised as a liability:

Final dividend – 1.55 cents fully franked.          

 (2012: 1.37 cents, fully franked) per share

(c) Franking credit balance: 

– 

– 

The amount of franking credits available for the subsequent ﬁ nancial year are:

franking account balance as at the end of the ﬁ nancial year

franking credits that will arise from the payment of income tax payable as at the end 
of the ﬁ nancial year

If fully franked, the tax rate on dividends is 30% (2012: 30%). 

30 June 2013

7.  TRADE AND OTHER RECEIVABLES (CURRENT)

Trade debtors

Allowance for impairment loss (a)

Other debtors

(a) Allowance for impairment loss

2013

$’000

3,855

4,155

8,010

2012

$’000

3,124

3,639

6,763

4,713

4,155

217

656

873

927

685

1,612

CONSOLIDATED

       2013

      $’000

       2012

      $’000

5,459

(224)

5,235

69

5,304

4,203

(210)

3,993

40

4,033

Trade receivables are non-interest bearing and are generally on 30-60 day terms. A provision for impairment loss is recognised when 
there is objective evidence that an individual trade receivable is impaired. An impairment loss of $76,000 (2012: $121,000 loss) has 
been recognised by the group in the current year. These amounts have been included in the other expenses item. The amount of the 
allowance/impairment loss is recognised as the diff erence between the carrying amount of the debtor and the estimated future cash 
ﬂ ows expected to be received from the relevant debtors.

Movements in the provision for impairment loss were as follows:

At 1 July

Charge/(release) for the year

Foreign exchange translation

Amounts written off 

At 30 June

210

76

10

(72)

224

136

121

(10)

(37)

210

  At 30 June the aging analysis of trade receivables is as follows:

Total

0-60 days NI* 0-60 days CI* 61-120 days NI* 61-120 days CI* 121+ days NI*

121+ days CI*

2013 Consolidated ($’000) 5,459

2012 Consolidated ($’000)

4,203

4,795

3,652

30

36

296

281

43

30

144

76

151

128

   * Not impaired (NI)

Considered impaired (CI)
All trade receivables over 60 days are considered past due.

SUPERSERVICE.COM

45.

 
 
NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

8. INVENTORIES

Raw materials

At cost

Total inventories at the lower of cost and net realisable value

Notes

CONSOLIDATED

2013

$’000

2012

$’000

1

1

7

7

30 June 2013

Notes

CONSOLIDATED

9. PROPERTY, PLANT & EQUIPMENT

(a)

Leasehold improvements

At cost

Accumulated amortisation

Offi  ce equipment

At cost

Accumulated depreciation

Furniture and ﬁ ttings

At cost

Accumulated depreciation

Plant and equipment

At cost

Accumulated depreciation

Total property, plant and equipment

At cost

Accumulated depreciation and amortisation

Total carrying amount

2013

$’000

481

(413)

68

8,455

(7,300)

1,155

446

(287)

159

3,301

(3,245)

56

12,683

(11,245)

1,438

2012

$’000

434

(407)

27

7,871

(6,784)

1,087

399

(237)

162

3,287

(3,174)

113

11,991

(10,602)

1,389

46.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

9. PROPERTY, PLANT & EQUIPMENT (CONTINUED)

(b) Reconciliation of property, plant and equipment carrying values

CONSOLIDATED

 2013

$’000

2012

$’000

Leasehold Improvements

Carrying amount – opening balance

Additions

Disposals

Depreciation

Carrying amount – closing balance

Offi  ce equipment

Carrying amount – opening balance

Additions

       Disposals

Depreciation

Carrying amount – closing balance

Furniture and ﬁ ttings

Carrying amount – opening balance

Additions

Disposals

Depreciation

Carrying amount – closing balance

Plant and equipment

Carrying amount – opening balance

Additions

Depreciation

Carrying amount – closing balance

Total property, plant and equipment 

Carrying amount – opening balance

Additions

Disposals

Depreciation

Carrying amount – closing balance

27

46

-

(5)

68

1,087

544

-

(476)

1,155

162

38

-

(41)

159

113

14

(71)

56

1,389

642

-

(593)

1,438

26

6

-

(5)

27

1,028

492

(2)

(431)

1,087

187

19

-

(44)

162

167

36

(90)

113

1,408

553

(2)

(570)

1,389

SUPERSERVICE.COM

47.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOTES TO THE FINANCIAL STATEMENTS

30 June 2013 

CONSOLIDATED

10. INTANGIBLE ASSETS AND GOODWILL

$000

$’000

$’000

$’000

$’000

Development 
costs1

Intellectual 
Property2

Other 
Intangibles2 

Goodwill 2

Total

At 1 July 2012

Cost (gross carrying amount)

Accumulated amortisation

Net carrying amount

Year ended 30 June 2013

At 1 July 2012, net of accumulated 
amortisation and impairment

Additions

Foreign exchange movements

Amortisation

At 30 June 2013, net of accumulated 
amortisation and impairment

At 30 June 2013

Cost (gross carrying amount)

Accumulated amortisation

Net carrying amount

40,312

(19,280)

21,032

3,115

(2,656)

459

21,032

7,417

-

(7,178)

21,271

459

-

28

(145)

342

47,729

(26,458)

21,271

3,167

(2,825)

342

1,071

(179)

892

892

-

60

(214)

738

1,167

(429)

738

11,723

-

11,723

11,723

-

285

-

56,221

(22,115)

34,106

34,106

7,417

373

(7,537)

12,008

34,359

12,008

-

12,008

64,071

(29,712)

34,359

1. Internally generated
2. Purchased as part of business/territory acquisition

Development costs that meet the recognition criteria as an intangible asset have been capitalised at cost. This intangible asset has been 
assessed as having a ﬁ nite life and is amortised using the straight-line method over a period not exceeding four years commencing from 
the commercial release of the project. If an impairment indication arises, the recoverable amount is estimated and an impairment loss is 
recognised to the extent that the recoverable amount is lower than the carrying amount.

Intellectual  property  includes  intangible  assets  acquired  through  business  or  territory  acquisition  and  relates  primarily  to  copyright  and 
software code over key products. Intellectual property is amortised over its useful life being 3 years.

30 June 2013 

CONSOLIDATED

10. INTANGIBLE ASSETS AND GOODWILL
(CONTINUED)

At 1 July 2011

Cost (gross carrying amount)

Accumulated amortisation

Net carrying amount

Year ended 30 June 2012

At 1 July 2011, net of accumulated 
amortisation and impairment

Additional amounts recognised from 
purchase of subsidiary occurring during 
the year (note 27)

Additions

Amortisation

At 30 June 2012, net of accumulated 
amortisation and impairment

At 30 June 2012

Cost (gross carrying amount)

Accumulated amortisation

Net carrying amount

Development 
costs1

Intellectual 
Property2

Other 
Intangibles2 

Goodwill 2

Total

$000

$’000

$’000

$’000

$’000

33,916

(13,705)

20,211

2,537

(2,414)

123

20,211

123

-

6,396

(5,575)

21,032

40,312

(19,280)

21,032

578

-

(242)

459

3,115

(2,656)

459

-

-

-

-

1,071

-

(179)

892

1,071

(179)

892

8,541

-

8,541

44,994

(16,119)

28,875

8,541

28,875

3,182

-

-

4,831

6,396

(5,996)

11,723

34,106

11,723

-

11,723

56,221

(22,115)

34,106

48.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

11. IMPAIRMENT TESTING OF GOODWILL 

Goodwill acquired through business combinations or territory acquisition have been allocated to four individual cash 
generating units, each of which is a reportable segment (refer note 24) for impairment testing as follows:

•  Asia Paciﬁ c;

•  Europe;

•  North America; and

•  Latin and South America

The recoverable amount of each cash generating unit has been determined based on a value in use calculation using 
cash ﬂ ow projections as at 30 June 2013 based on ﬁ nancial budgets approved by The Board for the 2014 ﬁ nancial year 
extrapolated for a ﬁ ve year period on the basis of 5% growth together with a terminal value.

The discount rate applied to cash ﬂ ow projections is 14% (2012: 14%). The discount rate reﬂ ects management estimate of 
the time value of money and the rates speciﬁ c to the unit.

Carrying amount of goodwill allocated to each of the cash generating units is as follows:

Asia Paciﬁ c

Europe, 
Middle East 
& Africa

North America

Latin and 
South America

$’000

$’000

$’000

$’000

CONSOLIDATED
Carrying amount of goodwill 2012

Foreign exchange movement

Carrying amount of goodwill 2013

2,660

65

2,725

5,592

135

5,727

2,682

19

2,701

789

66

855

Total 

$’000

11,723

285

12,008

Key assumptions used in value in use calculations:

The following describes each key assumption on which management has based its cash ﬂ ow projections when 
determining the value in use of its cash generating units:

•  The Company will continue to have access to the data supply from automakers over the budgeted period;

•  The Company will not experience any substantial adverse movements in currency exchange rates; 

•  The Company’s research and development program will ensure that the current suite of products remain leading edge;

•  The Company is able to maintain its current gross margins;

•  The discount rates estimated by management are reﬂ ective of the time value of money; and

•  Management has used an AUD/USD exchange rate of $0.920 and an AUD/EUR exchange rate of $0.705 in its cash 

ﬂ ow projections.  

Sensitivity to changes in assumptions: 

Growth rate assumptions – Management notes if negative growth rates are applied to revenues, by 5% over the ﬁ ve year 
period, this still yields a recoverable amount to be above its carrying amount.

Discount rate assumptions – Management recognises that the time value of money may vary from what they have 
estimated. Management notes that applying a discount rate of double the current rate still yields the recoverable amount 
to be above its carrying amount. 

Foreign exchange rate assumptions – Management notes that applying an AUD/USD exchange rate of $1.20 and an 
AUD/EUR exchange rate of $0.85 still yields the recoverable amount to be above its carrying amount.

SUPERSERVICE.COM

49.

 
 
NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

Notes

CONSOLIDATED

12. TRADE AND OTHER PAYABLES (CURRENT)

Trade creditors

Other creditors

(a)  Trade creditors are non-interest bearing and are normally settled on 30 day terms.

Due to the short term nature of these payables, their carrying value is assumed to 
approximate their fair value.

13.  PROVISIONS (CURRENT)

Employee beneﬁ ts

14.  DEFERRED REVENUE (CURRENT)

Revenue in advance

15. PROVISIONS (NON-CURRENT)

Employee beneﬁ ts

(a) Movement in employee beneﬁ t provision:

Carrying amount at the beginning of the year

Utilised

Arising during the year

Carrying amount at the end of the year

Current

Non-current

12(a)

2013

$’000

411

2,223

2,634

15(a)

2,039

2,039

668

668

448

448

2,239

(1,208)

1,456

2,487

2,039

448

2,487

13

2012

$’000

467

2,434

2,901

1,812

1,812

564

564

425

425

2,165

(1,320)

1,392

2,237

1,812

425

2,237

50.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

30 June 2013

Notes

CONSOLIDATED

16.  CONTRIBUTED EQUITY AND RESERVES

Ordinary shares

2013

$’000

10,855

10,855

2012

$’000

10,798

10,798

Fully paid ordinary shares carry one vote per share and carry the right to dividends.

Movement in ordinary shares on issue:

At 1 July 2011

Shares repurchased

At 30 June 2012

Share options exercised

At 30 June 2013

Capital management

Notes

Number

$’000

303,276,855

-

303,276,855

300,000

303,576,855

10,798

-

10,798

57

10,885

When managing capital, the company’s objective is to ensure the entity continues as a going concern as well as to 
maintain optimal returns to shareholders and beneﬁ ts for other stakeholders.

Subject to the company’s ﬁ nancial position and future ﬁ nancial performance, the company’s current dividend policy is to 
distribute, in the order of 75 – 85% of proﬁ t after tax.  

During the 2013 ﬁ nancial year, the company paid dividends of $8.0 million (2012: $6.8 million). 

SUPERSERVICE.COM

51.

NOTES TO THE FINANCIAL STATEMENTS

16. CONTRIBUTED EQUITY AND RESERVES (CONTINUED)

Employee Option Plan

There were 600,000 (2012: 5,670,000) options granted during the current year at an average exercise price of $0.28 
(2012: $0.19).

30 June 2013

CONSOLIDATED

Employee equity 
beneﬁ ts reserve

Foreign currency 
translation reserve

Cashﬂ ow 
hedge reserve

$’000

1,210

-

52

(1,206)

-

56

-

196

-

252

$’000

(12)

(192)

-

-

-

(204)

854

-

-

650

$’000

1,463

-

-

-

(978)

485

-

-

(1,240)

(755)

Movement in reserves:

At 1 July 2011

Currency translation diff erences

Share based payments

Transfer to retained proﬁ t

Derivatives marked to market

At 30 June 2012

Currency translation diff erences

Share based payments

Derivatives marked to market

At 30 June 2013

Nature and purpose of reserves

Employee equity beneﬁ ts reserve

Total

$’000

2,661

(192)

52

(1,206)

(978)

337

854

196

(1,240)

147

This reserve is used to record the value of equity beneﬁ ts provided to employees and Directors as part of their 
compensation. Refer to Note 19 for further details.

Foreign currency translation reserve

The foreign currency translation reserve is used to record exchange diff erences arising from the translation of the ﬁ nancial 
statements of foreign subsidiaries. It is also used to record the eff ect of hedging net investments in foreign operations.

Cashﬂ ow hedge reserve

The derivatives reserve is used to record the mark to market valuation of forward currency contracts at the balance sheet 
date that are considered eff ective hedges.

52.

INFOMEDIA.COM

30 June 2013

Notes

CONSOLIDATED

NOTES TO THE FINANCIAL STATEMENTS

17.  STATEMENT OF CASH FLOWS 

(a)  Reconciliation of proﬁ t after tax to the net cash ﬂ ows from operations

Proﬁ t from ordinary activities after income tax expense

Depreciation of non-current assets

Amortisation of non-current assets

Amortisation of employee options

Derivative (interest)

Disposal of property, plant, and equipment

Changes in assets and liabilities

(Increase)/decrease in trade and other debtors

(Increase)/decrease in inventories

(Increase)/decrease in prepayments

(Increase)/decrease in deferred development costs

(Increase)/decrease in intangible assets

Increase/(decrease) in trade and other creditors

Increase/(decrease) in allowance for doubtful debts

Increase/(decrease) in provision for employee entitlements

Increase/(decrease) in other provisions

Increase/(decrease) in income tax payable

Increase/(decrease) in deferred income tax liability

Increase/(decrease) in revenue in advance

Net cash ﬂ ow from operating activities

(b)  Reconciliation of cash

Cash balance comprises:

– cash at bank

– cash on deposit

2013

$’000

10,066

593

7,537

196

1,112

-

(430)

6

(199)

(7,417)

(373)

(267)

15

250

-

(224)

279

104

11,248

2012

$’000

8,461

570

5,996

52

-

2

(41)

48

1,535

(6,396)

-

(107)

74

72

-

(662)

202

(67)

9,739

4,877

4,422

9,299

1,999

4,647

6,646

30 June 2013

Notes

CONSOLIDATED

18.  COMMITMENTS & CONTINGENCIES

(a)  Lease expenditure commitments

   Operating leases (non-cancellable):

Minimum lease payments 

–  not later than one year

–  later than one year and not later than ﬁ ve years

–  later than ﬁ ve years

– aggregate operating lease expenditure contracted for at balance date

Operating lease commitments are for offi  ce accommodation both in Australia and abroad.

(b) Performance Bank Guarantee

2013

$’000

2012

$’000

1,290

3,264

4,554

1,197

4,099

-

5,296

Infomedia Ltd has a performance bank guarantee to a maximum value of $508,000 (2012: $508,000) relating to the lease commitments 

of its corporate headquarters.

SUPERSERVICE.COM

53.

NOTES TO THE FINANCIAL STATEMENTS

19. SHARE BASED PAYMENT PLANS

Employee Option Plan

The Employee Option Plan entitles the Company to off er ‘eligible employees’ options to subscribe for shares in the Company. Options 

will be granted at a nil issue price unless otherwise determined by the Directors of the Company and each Option enables the holder to 

subscribe for one Share. The exercise price for the Options granted will be as speciﬁ ed on the option certiﬁ cate or, if not speciﬁ ed, the 

volume weighted average price for Shares of the Company for the ﬁ ve days trading immediately before the day on which the options 

were granted. The Options may be exercised in accordance with the date determined by the Board, which must be within four years of 

the option being granted. 

Information with respect to the number of options granted under the employee share incentive scheme is as follows:

Notes

2013

2012

Number of options

Weighted average 
exercise price

Number of options

Weighted average 
exercise price

Balance at beginning of year 

 - granted

 - expired

 - exercised

Balance at end of year

19(a)

19(b)

19(c)

19(d)

19(e)

5,670,000

600,000

(120,000)

(300,000)

5,850,000

0.19

0.28

0.28

0.19

0.20

1,000,000

5,670,000

(1,000,000)

-

5,670,000

0.30

0.19

0.30

-

0.19

(a) Options held at the beginning of the year:

The following table summarises information about options held by employees at 1 July 2012

Number of options

2,250,000

3,420,000

Grant date

15/01/2012

30/05/2012

Earliest 
vesting date

15/01/2013

30/05/2013

Expiry date

14/03/2015

30/05/2015

Weighted average 
exercise price

$0.19

$0.19

(b) Options granted during the year:

The following table summarises information about options granted during the year.

Number of options

Grant date

Earliest 
vesting date

Expiry date

Weighted average 
exercise price

600,000

12/03/2013

15/01/2014

01/02/2016

$0.28

(c) Options forfeited during the year:

Number of options

Grant date

Earliest 
vesting date

Expiry date

Weighted average 
exercise price

120,000

12/03/2013

15/01/2014

01/02/2016

$0.28

(d) Options exercised during the year:

Number of options

Grant date

Earliest 
vesting date

Expiry date

Weighted average 
exercise price

300,000

15/01/2012

15/01/2013

14/03/2015

$0.19

(e) Options held at the end of the year:

Number of options

1,950,000

3,420,000

480,000

Grant date

15/01/2012

30/05/2012

12/03/2013

Earliest 
vesting date

15/01/2013

30/05/2013

15/01/2014

Expiry date

14/03/2015

30/05/2015

01/02/2016

Weighted average 
exercise price

$0.19

$0.19

$0.28

54.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

(f) Other details regarding options:

The weighted average fair value of options granted during the year was $0.21 (2012: $0.04). 

The fair value of the equity-settled options granted under the option plan is estimated as at the grant date using a binomial 
model taking into account the term and conditions upon which the options were granted.

The following table lists the inputs to the model used for the year:

Granted 15/01/2012

Granted 30/05/2012

Granted 12/03/2013

 Dividend yield (%)

 Expected volatility (%)

 Risk free rate (%)

 Option exercise price

 Weighted average share price at grant date

10.0%

41%

3.95%

$0.19

$0.19

10.0%

39%

3.08%

$0.19

$0.19

The expense recognised for employee services received during the year is shown in the table below:

Expense arising from equity-settled share-based payment transactions

20.  PENSIONS AND OTHER POST-EMPLOYMENT PLANS

Superannuation Commitments

CONSOLIDATED

2013

$’000

196

4.33%

42%

3.22%

$0.28

$0.28

2012

$’000

52

Contributions are made by the Company in accordance with the relevant statutory requirements. Contributions by the 
Company for the year ended 30 June 2013 were 9% (2012: 9%) of employee’s wages and salaries which are legally 
enforceable in Australia. The superannuation plans provide accumulation beneﬁ ts.

SUPERSERVICE.COM

55.

 
NOTES TO THE FINANCIAL STATEMENTS

21. KEY MANAGEMENT PERSONNEL DISCLOSURES

(a) Compensation of Key Management Personnel

(i) Compensation by Category: Key Management Personnel

Short-Term

Post Employment

Other Long-Term

Share-based Payments

CONSOLIDATED

2013

$

1,676,189

107,657

14,887

50,305

1,849,038

2012

$

1,602,877

108,507

14,497

38,130

1,764,011

 (b) Option holdings of Key Management Personnel (Consolidated)

30 June 2013

Executives

Karen Blunden

Nick Georges

Michael Roach

Balance at 
beginning 
of period

1 July 2012

450,000

450,000

450,000

Andrew Pattinson

450,000

Jonathan Pollard

450,000

30 June 2012

2,250,000

Balance at 
beginning 
of period

1 July 2011

Granted as 
compensation

Options 
exercised

Expired

Balance at 
end of period

Vested at 30 June 2013

30 June 2013

Not 
exercisable

Exercisable

-

-

-

-

-

-

(150,000)

(150,000)

-

-

-

(300,000)

-

-

-

-

-

-

300,000

300,000

450,000

450,000

450,000

300,000

300,000

300,000

300,000

300,000

-

-

150,000

150,000

150,000

1,950,000

1,500,000

450,000

Granted as 
compensation

Options 
exercised

Expired

Balance at 
end of period

Vested at 30 June 2012

30 June 2012

Not 
exercisable

Exercisable

Executives

Karen Blunden

250,000

Nick Georges

-

Michael Roach

250,000

Andrew Pattinson

250,000

Jonathan Pollard

250,000

450,000

450,000

450,000

450,000

450,000

1,000,000

2,250,000

-

-

-

-

-

-

(250,000)

-

(250,000)

(250,000)

(250,000)

450,000

450,000

450,000

450,000

450,000

450,000

450,000

450,000

450,000

450,000

(1,000,000)

2,250,000

2,250,000

-

-

-

-

-

-

56.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

21. KEY MANAGEMENT PERSONNEL DISCLOSURES (CONTINUED)

(c) Shareholdings of Key Management Personnel

30 June 2013

Number of shares held in Infomedia Ltd

Balance 
30 June 2012

Granted as 
compensation

On exercise 
of options

Net change 
other

Balance 
30 June 2013

Directors

Richard Graham

Myer Herszberg

Geoff  Henderson*

Frances Hernon

Executives

Andrew Pattinson

Nick Georges

Michael Roach

Jonathan Pollard

Karen Blunden

Total

*resigned 3/01/13

30 June 2012

Number of shares held in Infomedia Ltd

Directors

Richard Graham

Myer Herszberg

Geoff  Henderson*

Frances Hernon

Executives

Andrew Pattinson

Nick Georges

Michael Roach

Jonathan Pollard

Karen Blunden

Total

*resigned 3/01/13

103,390,901

23,436,599

-

5,000

2,447,567

24,421

18,721

1,996

-

129,325,205

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

- 

-

-

-

150,000

(21,421)

-

-

150,000

300,000

-

-

-

103,390,901

23,436,599

-

5,000

2,447,567

153,000

18,721

1,996

150,000

(21,421)

129,603,784

Balance 
1 July 2011

Granted as 
compensation

On exercise 
of options

Net change 
other

Balance 
30 June 2012

103,390,901

23,421,589

-

5,000

2,447,567

24,421

18,721

1,996

-

129,310,195

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

103,390,901

15,010

23,436,599

-

-

-

-

-

-

-

-

5,000

2,447,567

24,421

18,721

1,996

-

15,010

129,325,205

All equity transactions with key management personnel other than those arising from the exercise of compensation 
options and compensation shares have been entered into under terms and conditions no more favourable than those the 
entity would have adopted if dealing at arm’s length.

(d) Loans to Key Management Personnel

There were no loans at the beginning or the end of the reporting period to key management personnel. No loans were 
made available during the reporting period to key management personnel.

SUPERSERVICE.COM

57.

NOTES TO THE FINANCIAL STATEMENTS

22. AUDITORS’ REMUNERATION

Amounts received or due and receivable by the auditors of Infomedia Ltd:

BDO East Coast Partnership (formerly PKF East Coast Practice)

– an audit or review of the ﬁ nancial report of the entity and any other entity in the consolidated entity

– Non-audit services

CONSOLIDATED

2013

$

2012

$

105,000

74,090

179,090

121,800

72,700

194,500

23. RELATED PARTY DISCLOSURES

Ultimate Parent

Infomedia Ltd is the ultimate Australian parent company

Wholly-owned group transactions

(a)  An unsecured, trade receivable of $126,042 (2012: $483,736) remains owing to IFM Europe Ltd from Infomedia Ltd.  

(b)  An unsecured, trade receivable of $1,090,359 (2012: $859,545) remains owing from IFM North America Inc. to 

Infomedia Ltd.

(c)  An unsecured, trade receivable of $Nil (2012: $18,919) remains owing to Diff erent Aspect Software Ltd. from Infomedia Ltd.

(d)  During the year Infomedia Ltd received $Nil (2012: $15,485,980) from IFM Europe Ltd for intra-group sales.

(e)  During the year Infomedia Ltd received $Nil (2012: $6,145,616) from IFM North America Inc. for intra-group sales.

(f)   During the year Infomedia Ltd paid $3,507,668 (2012: $Nil) to IFM Europe Ltd for intra-group distribution services.

(g)  During the year Infomedia Ltd paid $2,969,538 (2012: $Nil) to IFM North America Inc. for intra-group distribution services.

(f)   During the year IFM Europe paid $307,221 (2012: $466,317) to IFM Germany GmbH for intra-group distribution services.

Entity with deemed signiﬁ cant inﬂ uence over the Company

Wiser Equity Pty Limited, a company in which Richard Graham is a Director, owns 34.10% of the ordinary shares in 
Infomedia Ltd (2012: 34.10%).

58.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

24. SEGMENT INFORMATION

30 June 2013

Notes Asia Paciﬁ c

Europe

North 
America

Latin & 
South 
America

Corporate

Total

$’000

$’000

$’000

$’000

$’000

$’000

Business Segments

REVENUE

Sales revenue

Consolidated revenue

Segment result

Finance revenue

Finance cost

13,275

22,184

10,555

2,675

-

48,689

48,689

10,610

18,086

7,943

2,190

(26,855)

11,974

-

-

-

-

-

-

-

-

76

-

Consolidated proﬁ t before income tax

10,610

18,086

7,943

2,190

(26,779)

Income tax expense

4

Consolidated proﬁ t after income tax

Assets

Segment assets

Unallocated assets

Total assets

Liabilities

Segment liabilities

Unallocated liabilities

Total liabilities

Capital Expenditure

Amortisation

Depreciation

-

-

-

-

-

7,927

359

625

505

22

359

36

16

-

73

-

-

-

-

-

76

-

12,050

(1,984)

10,066

8,286

43,329

51,615

1,130

12,317

13,447

-

-

604

642

7,178

484

7,537

593

SUPERSERVICE.COM

59.

NOTES TO THE FINANCIAL STATEMENTS

24. SEGMENT INFORMATION (CONTINUED)

30 June 2012

Notes Asia Paciﬁ c

Europe

North 
America

Latin & 
South 
America

Corporate

Total

$’000

$’000

$’000

$’000

$’000

$’000

Business Segments

REVENUE

Sales revenue

Consolidated revenue

Segment result

Finance revenue

Finance cost

12,349

21,129

9,665

2,534

-

45,677

45,677

9,809

17,358

7,159

2,028

(25,266)

11,088

-

-

-

-

-

-

-

-

150

(50)

Consolidated proﬁ t before income tax

9,809

17,358

7,159

2,028

(25,166)

Income tax expense

4

Consolidated proﬁ t after income tax

Assets

Segment assets

Unallocated assets

Total assets

Liabilities

Segment liabilities

Unallocated liabilities

Total liabilities

Capital Expenditure

Amortisation

Depreciation

-

-

-

-

-

2,902

42

881

310

22

-

18

16

-

72

-

-

-

-

-

150

(50)

11,188

(2,727)

8,461

2,944

44,945

47,889

1,191

10,453

11,644

-

-

498

536

5,996

480

5,996

570

Identiﬁ cation of reportable segments

The group has identiﬁ ed its operating segments based on the internal reports that are reviewed and used by the Board of 
Directors (the chief operating decision makers) in assessing performance and in determining the allocation of resources.

The operating segments are identiﬁ ed by management based on the region in which the product is sold. Discrete ﬁ nancial 
information about each of these operating businesses is reported to the Board of Directors regularly.

The reportable segments are based on aggregated operating segments determined by the similarity of the products 
produced and sold as these are the sources of the Group’s major risks and have the most eff ect of the rates of return.

Accounting policies and inter-segment transactions

The accounting policies used by the Group in reporting segments internally are the same as those contained in note 2 to 
the accounts and in the prior period.

The group accounting policies for segments are applied to the respective segments up to the segment result level.

Major customers

The Group has many customers to which it provides products. There is no signiﬁ cant reliance on any single customer.

60.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

25. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Company’s principal ﬁ nancial instruments, other than derivatives, comprise cash and short-term deposits.

The Company has various other ﬁ nancial assets and liabilities such as trade receivables and trade payables, which arise 
directly from its operations. The Company also enters into derivative transactions through forward currency and range 
forward contracts. The purpose is to manage the currency risks arising from the Company’s operations. It is, and has been 
throughout the period under review, the Company’s policy that no trading in ﬁ nancial instruments shall be undertaken. The 
main risks arising from the Company’s ﬁ nancial instruments are cash ﬂ ow interest rate risk, liquidity risk, foreign currency 
risk and credit risk. 

Details of the signiﬁ cant accounting policies and methods adopted, including the criteria for recognition, the basis of 
measurement and the basis on which income and expenses are recognised, in respect of each class of ﬁ nancial asset, 
ﬁ nancial liability and equity instrument are disclosed in Note 2 to the ﬁ nancial statements.

(a) Interest rate risk

The Company’s exposure to the risk of changes in market interest rates relates solely to the Company’s cash holding of 
$9,299,000 (2012: $6,646,000) with a ﬂ oating interest rate.

The Company’s policy is to accept the ﬂ oating interest rate risk with both its cash holdings and bank loans. Cash is held 
primarily with leading Australian banks for periods not exceeding 30 days, as such any reasonably expected change in 
interest rates (+/- 1%) would not have a signiﬁ cant impact on post tax proﬁ t or other comprehensive income.

(b) Foreign currency risk

The Company has transactional currency exposures. These exposures mainly arise from the transactional sale of products 
and to a lesser extent the associated cost of sales component relating to these products. As the Company’s product 
off erings are typically made on a recurring monthly subscription basis, there is a relatively high degree of reliability in 
estimating a proportion of future cashﬂ ow exposures. Approximately 40% of the Company’s sales are denominated in 
United States Dollars and 40% are denominated in Euros (measured using the spot foreign exchange rates in existence in 
the current ﬁ nancial year). The Company seeks to mitigate exposure to movements in these currencies by entering into 
forward exchange derivative contracts under an approved hedging policy. 

As a result of the Company’s investment in both its European and United States subsidiaries, the Company’s statement of 
ﬁ nancial position can be aff ected by movements in both the Euro and United States dollar against the Australian dollar. 

At 30 June, the Group had the following exposure to US$ foreign currency that is not designated in cash ﬂ ow hedges:

Financial Assets

Cash and cash equivalents

CONSOLIDATED

2013

$’000

1,242

1,242

2012

$’000

15

15

SUPERSERVICE.COM

61.

NOTES TO THE FINANCIAL STATEMENTS

25. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

At 30 June, the Group had the following exposure to EUR foreign currency that is not designated in cash ﬂ ow hedges:

Financial Assets

Cash and cash equivalents

CONSOLIDATED

2013

$’000

1,833

1,833

2012

$’000

374

374

The following sensitivity is based on the foreign currency risk exposures in existence at the balance date:

At 30 June, had the Australian Dollar moved, as illustrated in the table below, with all other variables held constant, 
post tax proﬁ t and total equity would have been aff ected as follows:

Judgments of reasonably possible movements:

Consolidated

AUD/USD +10%

AUD/USD – 15%

AUD/EUR +10%

AUD/EUR – 15%

Post tax proﬁ t
Higher/(Lower)

Total equity
Higher/(Lower)

2013

$’000

2012

$’000

2013

$’000

2012

$’000

(79)

153

(117)

226

(1)

2

(32)

63

(79)

153

(117)

226

(1)

2

(32)

63

Management believe the balance date risk exposures are representative of the risk exposure inherent in the ﬁ nancial 
instruments.

(c) Credit risk

The Company’s credit risk with regard to accounts receivables is spread broadly across three automotive groups – 
manufacturers, distributors and dealerships. Receivable balances are monitored on an ongoing basis with the result that 
the Company’s exposure to bad debts is not signiﬁ cant. As the products typically have a monthly life cycle and are priced 
on a relatively low subscription price, the concentration of credit risk is typically low with automotive manufacturers being 
the exception. 

With respect to credit risk arising from the other ﬁ nancial assets of the Company, which comprise cash and cash 
equivalents, and certain derivative instruments, the Company’s exposure to credit risk arises from default of the counter 
party, with a maximum exposure equal to the carrying amount of these instruments.

Since the Company trades only with recognised third parties, collateral is not requested nor is it the Group’s policy to 
securitise its trade and other receivables.

(d) Price risk

There are no items on the statement of ﬁ nancial position as at 30 June 2013 that are subject price risk.

62.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

25. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

(e) Liquidity risk

The Company’s exposure to liquidity risk is minimal given the relative strength of the statement of ﬁ nancial position and 
cash ﬂ ows from operations. 

Given the nature of the Company’s operations and no borrowings, the Company does not have ﬁ xed or contracted 
payments at balance date other than with respect of its cash ﬂ ow hedges which are disclosed below. Consequently the 
remaining contractual maturity of the group entity’s ﬁ nancial liabilities is as stated in the statement of ﬁ nancial position and 
is less than 60 days. Deferred revenue requires no cash outﬂ ow.

Liquidity and Interest rate risk

The following table sets out the carrying amount, by maturity, of the ﬁ nancial instruments exposed to interest rate or 
liquidity risk:

CONSOLIDATED

YEAR ENDED 30 JUNE 2013

Less than one year 
$’000

Two to ﬁ ve years 
$’000

Greater than ﬁ ve 
years $’000

Weighted average 
eff ective interest rate %

Floating rate

Cash and cash equivalents

Trade and other receivables

Trade and other payables

9,299

5,304

(2,634)

-

-

-

-

-

-

1.5

-

-

CONSOLIDATED

YEAR ENDED 30 JUNE 2012

Less than one year 
$’000

Two to ﬁ ve years 
$’000

Greater than ﬁ ve 
years $’000

Weighted average 
eff ective interest rate %

Floating rate

Cash and cash equivalents

Trade and other receivables

Trade and other payables

6,646

4,033

(2,901)

-

-

-

-

-

-

3.0

-

-

Interest on cash and cash equivalents classiﬁ ed as ﬂ oating rate is repriced at intervals of less than one year. Interest on 
ﬁ nancial instruments classiﬁ ed as ﬁ xed rate is ﬁ xed until maturity of the instrument. The other ﬁ nancial instruments of the 
Group that are not included in the above tables are non-interest bearing and are therefore not subject to interest rate risk.

SUPERSERVICE.COM

63.

NOTES TO THE FINANCIAL STATEMENTS

25. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

(f) Fair value

Derivative instruments use valuation techniques other than quoted prices in active markets with only observable market 
inputs for the asset or liability , either directly (as prices) or indirectly (derived from prices) to determine the fair value of 
foreign exchange contracts

Derivative contracts

The following table summarises the forward exchange contracts on hand at 30 June 2013.

CONSOLIDATED

Company buys

Company sells

Exchange rate

Maturity – Forward exchange contracts

Less than one year

Greater than one year and not greater than two years

Maturity – Forward exchange contracts

Less than one year

Greater than one year and not greater than two years

$A’000

3,713

4,759

$A’000

3,681

4,420

USD’000

3,500

4,400

EUR’000

2,760

3,000

0.943

0.924

0.750

0.679

The mark to market valuation of these contracts at 30 June 2013 was ($688,000) which is booked directly in equity.

The following table summarises the range forward contracts on hand at 30 June 2013.

Maturity – Vanilla Collars

Less than one year

Less than one year

Less than one year

Maturity – Enhanced Collars

Less than one year

Less than one year

CONSOLIDATED

Company sells

Floor rate

Ceiling rate

Strike rate

USD’000

3,000

1,800

1,500

EUR’000

5,520

5,040

0.987

0.969

0.951

0.689

0.699

1.060

1.019

0.978

0.790

0.790

n/a

n/a

n/a

0.765

0.776

The mark to market valuation of these range forwards at 30 June 2013 was ($1,504,000).  The intrinsic value of ($392,000) 
is booked directly in equity.  The time value of ($1,112,000) is included in the statement of proﬁ t & loss and other 
comprehensive income as other expenses.

Derivative contracts

The following table summarises the forward exchange contracts on hand at 30 June 2012.

Maturity

Company sells United States Dollars (USD)

Less than one year

Company sells Euros (E)

Less than one year

CONSOLIDATED

Company buys

Company sells

Exchange rate

$A’000

7,738

$A’000

7,130

USD’000

7,600

E’000

5,240

0.982

0.735

The mark to market valuation of these contracts at 30 June 2012 was $699,000 which is booked directly in equity.

Maturity

Less than one year

Less than one year

CONSOLIDATED

Company sells

Floor rate

Ceiling rate

USD’000

3,975

700

0.8825

0.8800

1.100

0.9900

The mark to market valuation of these range forwards at 30 June 2012 was a loss of $6,000 which is booked directly in equity.

64.

INFOMEDIA.COM

NOTES TO THE FINANCIAL STATEMENTS

26. FINANCIAL INSTRUMENTS

Fair values

Set out below is a comparison by category of carrying amounts and fair values of all of the Company’s ﬁ nancial 
instruments recognised in the ﬁ nancial statements. The fair values of derivatives have been calculated by discounting the 
expected future cash ﬂ ows at prevailing interest rates.

CONSOLIDATED

Financial assets

Cash and cash equivalents

Trade and other debtors 

Derivatives

Financial liabilities

Trade and other creditors 

Derivatives

27. ACQUISITION OF SUBSIDIARY

Carrying Amount

Fair Value

2013

$’000

9,299

5,304

-

2,634

2,193

2012

$’000

6,646

4,033

693

2,901

-

2013

$’000

9,299

5,304

-

2,634

2,193

2012

$’000

6,646

4,033

693

2,901

-

On 2 September 2011, Infomedia Ltd acquired 100% of the share capital of Diff erent Aspect Software Ltd for $4,719,000 
in cash.  Diff erent Aspect Software Ltd is a UK based software developer specialising in the provision of IT application 
solutions to the automotive industry.

As a result of the acquisition, the group is expected to further improve its off erings of software products in the automotive 
space. Goodwill of $3,182,000 arising from the acquisition is attributable to the assembled workforce and potential for 
cost saving synergies and cross selling opportunities.  None of the goodwill recognised is expected to be deductible for 
income tax purposes.

The following table summarises the consideration paid for Diff erent Aspect Software Ltd, the fair value of assets acquired 
and liabilities assumed at the acquisition date.

Consideration at 2 September 2011

Cash

Total consideration transferred

$’000

4,719

4,719

Recognised amounts of identiﬁ able assets acquired and liabilities assumed

Cash and cash equivalents 

Property, plant and equipment 

Inventories

Trade and other receivables

Intellectual property 

Other intangibles

Trade and other payables 

Deferred revenue

Deferred tax liability

Provision for tax

Total identiﬁ able net assets

Goodwill 

Total

103

19

5

246

578

1,071

(339)

(275)

100

29

1,537

3,182

4,719

Acquisition-related costs of $158,000 are included in Other expenses in the consolidated income statement for the year 
ended 30 June 2012. The revenue included in the consolidated statement of comprehensive income since 2 September 
2011 contributed by Diff erent Aspect Software Ltd was $1.2m. Diff erent Aspect Software Ltd contributed proﬁ t $214,000 
over the same period.  

Had the acquisition of Diff erent Aspect Software Ltd been eff ected at 1 July 2011, management estimates revenue of the 
group for the 12 months ended 30 June 2012 would have been $1.45m and the proﬁ t would have been $250,000.

SUPERSERVICE.COM

65.

NOTES TO THE FINANCIAL STATEMENTS

28.  SUBSEQUENT EVENTS

There has been no matter or circumstance that has arisen since the end of the ﬁ nancial year that has signiﬁ cantly aff ected 
the operations of the Company, the results of those operations, or the state of aff airs of the Company.

29. PARENT ENTITY INFORMATION

Current assets

Total assets

Current liabilities

Total liabilities

Contributed equity

Retained earnings

Employee equity beneﬁ t reserve

Cashﬂ ow hedge reserve

Total shareholders’ equity

Proﬁ t or loss of the parent entity

Total comprehensive income of the parent entity

30. INTERESTS IN CONTROLLED ENTITIES

Parent Entity

2013

$’000

11,596

48,332

7,075

12,317

10,856

25,663

252

(756)

36,015

10,054

8,812

2012

$’000

9,601

45,411

4,873

10,453

10,798

23,619

56

485

34,958

7,273

6,295

Name

Country of 
incorporation

Percentage of equity interest held by 
the Company (directly or indirectly)

Parent entity

IFM Europe Ltd 

- ordinary shares

United Kingdom

Diff erent Aspect Software Ltd**

- ordinary shares

IFM North America Inc

- ordinary shares

IFM Germany GmbH*

United Kingdom

United States of 
America

2013

%

 100

 100

100

2012

%

100

100

100

- ordinary shares

Germany

100

100

* Investment is held by IFM Europe Ltd.

** Entity was purchased on 2 September 2011

2013            

2012         

$

247

$

247

4,719

4,719

1

-

1

-

4,967

4,967

66.

INFOMEDIA.COM

Directors’ Declaration

In accordance with a resolution of the directors of Infomedia Limited, I state that:

In the opinion of the directors:

(a)  the ﬁ nancial statements and notes of the consolidated entity are in accordance with the Corporations Act 2001, 

including:

(i)   giving a true and fair view of the consolidated entity’s ﬁ nancial position as at 30 June 2013 and of their  

performance for the year ended on that date; and

(ii)   complying with Accounting Standards and the Corporations Regulations 2001; and

(b)  the ﬁ nancial statements and notes also comply with International Financial Reporting Standards as disclosed in note 2b

(c)  there are reasonable grounds to believe that the consolidated entity will be able to pay its debts as and when they 

become due and payable.

(d)  this declaration has been made after receiving the declarations required to be made to the Directors in accordance 

with section 295A of the Corporations Act 2001 for the ﬁ nancial year ending 30 June 2013. 

On behalf of the Board

Richard David Graham
Chairman
Sydney 
21 August 2013

 
 
 
 
 
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(cid:50)(cid:83)(cid:76)(cid:81)(cid:76)(cid:82)(cid:81)(cid:3)(cid:3)

(cid:44)(cid:81)(cid:3)(cid:82)(cid:88)(cid:85)(cid:3)(cid:82)(cid:83)(cid:76)(cid:81)(cid:76)(cid:82)(cid:81)(cid:15)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:53)(cid:72)(cid:80)(cid:88)(cid:81)(cid:72)(cid:85)(cid:68)(cid:87)(cid:76)(cid:82)(cid:81)(cid:3)(cid:53)(cid:72)(cid:83)(cid:82)(cid:85)(cid:87)(cid:3)(cid:82)(cid:73)(cid:3)(cid:44)(cid:81)(cid:73)(cid:82)(cid:80)(cid:72)(cid:71)(cid:76)(cid:68)(cid:3)(cid:47)(cid:87)(cid:71)(cid:3)(cid:73)(cid:82)(cid:85)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:92)(cid:72)(cid:68)(cid:85)(cid:3)(cid:72)(cid:81)(cid:71)(cid:72)(cid:71)(cid:3)(cid:22)(cid:19)(cid:3)(cid:45)(cid:88)(cid:81)(cid:72)(cid:3)(cid:21)(cid:19)(cid:20)(cid:22)(cid:3)(cid:70)(cid:82)(cid:80)(cid:83)(cid:79)(cid:76)(cid:72)(cid:86)(cid:3)
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(cid:3)

(cid:37)(cid:39)(cid:50)(cid:3)(cid:40)(cid:68)(cid:86)(cid:87)(cid:3)(cid:38)(cid:82)(cid:68)(cid:86)(cid:87)(cid:3)(cid:51)(cid:68)(cid:85)(cid:87)(cid:81)(cid:72)(cid:85)(cid:86)(cid:75)(cid:76)(cid:83)(cid:3)(cid:3)

(cid:3)

(cid:3)

(cid:3)

(cid:42)(cid:85)(cid:68)(cid:81)(cid:87)(cid:3)(cid:54)(cid:68)(cid:91)(cid:82)(cid:81)(cid:3)
(cid:51)(cid:68)(cid:85)(cid:87)(cid:81)(cid:72)(cid:85)(cid:3)

(cid:3)

(cid:54)(cid:92)(cid:71)(cid:81)(cid:72)(cid:92)(cid:15)(cid:3)(cid:21)(cid:20)(cid:3)(cid:36)(cid:88)(cid:74)(cid:88)(cid:86)(cid:87)(cid:3)(cid:21)(cid:19)(cid:20)(cid:22)(cid:3)

(cid:3)

CORPORATE GOVERNANCE

INFOMEDIA LTD

CORPORATE GOVERNANCE STATEMENT FY2013

OVERVIEW

Infomedia’s adoption of ‘best practice’ Corporate Governance Principles

Infomedia strives to ensure an acceptable level of compliance with the voluntary governance principles set out in the 
‘Corporate Governance Principles and Recommendations 2nd Edition with 2010 Amendments‘ published by the Australian 
Stock Exchange’s (ASX) Corporate Governance Committee (CGC) (the ASX Principles). 

Infomedia endeavours to meet the ASX Principles in a manner consistent with the resources, size and operational scope 
of the Company. Where Infomedia is non-compliant with particular elements of the voluntary framework, the Company 
embraces the “If not, why not?” principle, and provides explanatory materials relating to those compliance discrepancies.

ASX – Corporate Governance Principles

PRINCIPLE 1
Lay solid 
foundations for 
management 
and oversight

PRINCIPLE 2

Structure the 
Board to 
add value

PRINCIPLE 8

Remunerate fairly 
and responsibly

PRINCIPLE 7

Recognise and 
manage risk

ASX
CORPORATE
GOVERNANCE
PRINCIPLES

PRINCIPLE 3

Promote ethical 
and responsible 
decision making

PRINCIPLE 6

Respect the rights 
of shareholders

PRINCIPLE 4

Safeguard integrity 
in ﬁnancial 
reporting

PRINCIPLE 5

Make timely 
and balanced 
disclosures

The ASX Principles provide a standard platform from which Infomedia implements and maintains a range of charters, policies 
and procedures applicable to the Company (the Policies). Infomedia’s Policies seek to instil and entrench the values, 
standards and behaviours required to ensure transparency, effi  cient resource allocation and protection of stakeholder 
interests. Further information about the Policies is available at http://www.infomedia.com.au/?Page=CorporateGovernance 

CORPORATE GOVERNANCE STATEMENT

1.  PARTIAL NON-COMPLIANCE WITH THE ASX PRINCIPLES –“IF NOT, WHY NOT?”

As a voluntary set of guidelines, compliance with the ASX Principles is not mandatory. 

In order to encourage participation, and in recognition of the fact that the resources and operating environments vary 
between participants, the ASX Principles provide organisations with the ﬂ exibility to comply in full or in part. This ﬂ exibility 
is tempered by the adoption of the “If not, why not?” principle, encouraging the Company to provide reasons for non-
compliance with particular parts of the ASX Principles. 

Whilst Infomedia strives to meet the ASX Principles, it does so in a manner consistent with the resources available to it, 
and within the context of its operating environment. 

During FY2013, Infomedia was non-compliant with several of the ASX Principles. The following sections contain 
commentary on the areas of both compliance and non-compliance, and provide relevant commentary in accordance with 
the “If not, why not?” framework. 

70.

INFOMEDIA.COM

CORPORATE GOVERNANCE

2.  THE BOARD, SUB-COMMITTEES AND SENIOR MANAGEMENT

2.1  Composition and structure of the Board

The composition and size of Board has been primarily shaped by Infomedia’s Constitution. Relevantly, the Constitution 
provides that:

(a) 

the Company must maintain a minimum of three and a maximum of seven directors; 

(b)  one third of the Directors, and any other Director not in such one third who has held offi  ce for three years or more, 
other than the Chief Executive Offi  cer, must retire by rotation each year. If eligible, retiring directors may off er 
themselves for re-election. 

Careful consideration is given to the contribution each director is able to make both individually and collectively. There 
is strong emphasis on promoting, among other attributes, an appropriate mix of complementary skills, independence, 
expertise, business knowledge and executive and non-executive participation. 

As noted in the Directors’ Report, Mr Geoff rey Henderson resigned from the position of Non-Executive Director eff ective 
on 3 January 2013. Following Mr Henderson’s resignation, the Infomedia Board is comprised of three Directors. The 
details of each Director’s name, terms of offi  ce, meeting attendance records, skills experience and expertise, appear in the 
Directors’ Report. 

2.2  Independence of the Chair 

Following the resignation of the Chief Executive Offi  cer on 31 August 2010, Mr Richard Graham, after a six-year absence 
from the Company’s executive, resumed the duties of the Chief Executive Offi  cer in his role as Executive Chairman. Mr 
Graham assumed this duty in addition to his continuing role as Chairman of the Board. Mr Graham also remained the 
Company’s largest shareholder until 28 August 2013 when he announced to the market his intention to retire in his 
executive capacity within the next 12 months. Mr Graham has expressed an intention to remain on the Board subject to 
shareholder approval. 

For the reasons outlined above, the Company did not comply with the following principles during FY 2013: 

(a)  ASX Principle 2.2 - The chair should be an independent Director; and

(b)  ASX Principle 2.3 - The roles of the chair and the chief executive offi  cer should not be exercised by the same individual.

Notwithstanding Mr Graham’s prior shareholding in the Company, the Board believes that its independence has remained 
uncompromised. Additionally, the Board derives comfort from:

(a) 

the Board Charter permitting Board members to elect a non-executive Director to chair informal meetings of non-
executive Directors; and

(b)  the ability of the Directors to seek independent professional advice, made available at the expense of the Company.

The sale of Mr Graham’s shares, coupled with his pending retirement from an executive role will serve to increase the 
Company’s compliance with the ASX Principles in FY 2014. 

2.3  Independence of the Board 

ASX Principle 2.1 calls for the majority of the Board to be independent, non-executive Directors. 

For the ﬁ rst half of FY 2013, the Board was comprised of three non-executive Directors in the form of Ms Frances Hernon, 
Mr Geoff rey Henderson and Mr Myer Herszberg. 

Whilst Ms Hernon and Mr Henderson meet the criteria for independence, Mr Herszberg’s independence was technically 
compromised by his standing as a substantial shareholder of the Company for the relevant period. Accordingly, the 
Company only partially complied with ASX Principle 2.1 and, since the resignation of Mr Henderson, no longer complies 
with ASX Principle 2. 

The independence of the Board is subject to continual evaluation. Ultimately, however, the Board accepts that its members 
remain in offi  ce upon the vote of the Company’s shareholders and that they may elect members to the Board regardless of 
their standing, independent or otherwise.

2.4  Establishment of nomination and remuneration committees

The ASX Principles recommend that the Board should establish:

(a)  a nominations committee for the examination of selection, recruitment and succession practices of the Company 

(ASX Principle 2.4); and

(b)  a remuneration committee to focus on remuneration policies (ASX Principle 8.1). 

SUPERSERVICE.COM

71.

CORPORATE GOVERNANCE

The Board has assumed responsibility for remuneration and nomination since July 2007. 

Given the relative size and resources available to the Company, the Board is of the view that neither a nominations nor a 
remuneration committee would add any signiﬁ cant corporate governance value for the following reasons:

(a)  given the size and structure of the Board, there is little effi  ciency to be derived from sub-committees other than the 

Audit, Risk & Governance Committee (Audit Committee); 

(b)  ultimate responsibility for nominations and remuneration rests with the Board whether or not a nomination or 

remuneration sub-committee is established;

(c) 

the Board has processes in place to raise issues relating to nomination and remuneration in the form of regular 
reporting by senior management (including detailed reports from the Human Resources Manager) on such matters; and

(d)  the Company maintains a formal policy for the nomination and induction of Directors (Director Nomination and 

Induction Policy), a summary of which is available on Infomedia’s website.

2.5  Board charter and responsibilities

A formal charter documenting the appropriate division between the responsibilities of the Board and management has 
been in place since July 2004. The Charter mandates the Board’s focus on the following key matters: 

(a)  developing the Company’s overall objectives;

(b)  developing and mandating strategies to achieve Company objectives;

(c)  setting overall policy framework within which the business of the Company is conducted; and

(d)  ensuring that the Company operates with integrity and in accordance with good management and governance practices. 

A summary of the Charter of the Board is available on the Company’s website.

2.6  Audit, Risk & Governance Committee

Please refer to section 4.1 below for a report on the activities of the Audit Committee.

3.  ETHICAL BUSINESS CONDUCT

3.1  Infomedia’s Code of Conduct

Since its inception, Infomedia has placed emphasis on personal integrity, mutual respect and ethical business practices as 
core values (Core Values). The Company’s dedication to these Core Values was formalised by the introduction of a formal 
Code of Conduct in 2004. The Code was further reﬁ ned under the guidance of the Corporate Governance Committee 
during FY2006 to:

(a)  strengthen formal resolution strategies for intra-organisational disputes; and

(b)  provide clearer reporting guidelines with regard to compliance mechanisms.

The Infomedia Code of Conduct strengthens the Company’s commitment to the Core Values by articulating and formally 
entrenching positive cultural values within the Company, and by providing guidance on dealings with various stakeholders. 
A summary of the Code of Conduct is available on the Company’s website. 

3.2  Workplace Diversity

The Company has historically dedicated itself to principles of equality and diversity within the workplace, and remains 
committed to that goal. The Company has consistently achieved annual accreditation from the Department of Equal 
Opportunity for Women in the Workplace (EOWA) for over a decade.

Given the relative size and resourcing of the Company, it did not maintain formal measurable objectives or policies relating 
to diversity during the reporting period, therefore placing it outside of technical compliance with ASX Principles 3.2 and 3.3. 

In accordance with ASX Principle 3.4, the following proportional split of employees was recorded as at 31 May 2013:

Category

Females

Males

Total

Directors

Key Management Personnel 

Employees

1 (33%)

1 (20%)

2 (66%)

4 (80%)

34 (17.8%)

157 (82.2%)

3

5

191

72.

INFOMEDIA.COM

CORPORATE GOVERNANCE

4.  FINANCIAL REPORTING, AUDIT, GOVERNANCE AND RISK MANAGEMENT

4.1  The Audit, Risk & Governance Committee

Infomedia has maintained an Audit Committee in various forms since the year 2000. The last Audit Committee continued 
to meet throughout the ﬁ rst half of FY 2013, however, its functions were temporarily incorporated by the full Board upon 
the resignation of Mr Geoff rey Henderson, the then Chairperson of the Committee, on 3 January 2013. It is noted that the 
Company was not included in the S&P / ASX 300 Index at the beginning of its ﬁ nancial year and is therefore not required 
to follow Listing Rule 12.7. Nevertheless, the Board is committed to re-establishing the previous Audit Committee upon the 
appointment of a suitably qualiﬁ ed independent non-executive director.

The composition of the previous Audit Committee met all of the requirements contained in ASX Principle 4.2 on the basis that it:

(a)  consists only of non-executive directors;

(b)  consists of a majority of independent directors;

(c) 

is chaired by an independent chair, who is not the chair of the board; and

(d)  has at least three members. 

The objectives of the Committee are clearly deﬁ ned within the Company’s temporarily suspended Audit Committee 
Charter. A summary of the Audit Committee Charter is available via the Company’s website. 

4.2  Independent auditors

The Board acknowledges the importance of external auditor independence and the rotation of not only responsible audit 
partners but also audit ﬁ rms. The appointment of BDO as auditors during FY 2012, after many years of commendable 
service from the Company’s previous auditors, Ernst & Young, represents a commitment towards this objective. Additionally, 
the Committee has formalised procedures for the rotation of responsible audit partners from BDO on a regular basis. 

4.3  Financial reporting obligations

The Company’s ﬁ nancial reporting obligations for FY 2013 were fulﬁ lled in accordance with applicable legal and 
accounting requirements. For further information, please refer to the ﬁ nancial statements and notes contained in the 
Directors’ Report and the Independent Audit Report.

Having acted in accordance with the Risk Management Policy and Risk Management Plan, the Executive Chairman and the 
Chief Financial Offi  cer have provided the Board with the necessary certiﬁ cations required pursuant to the Corporations Act 
2001 (Cth) and the ASX Principles.

4.4  Risk Management

Upon the recommendation of the Audit Committee, the Board adopted the Risk Management Policy (Risk Policy) in July 
2004. Following a review by the Audit and Risk Committee during FY 2006, a recommendation was made to the Board to 
adopt a revised Risk Management Policy and a Risk Management Plan. The revised plans promoted the establishment and 
implementation of a more eff ective and appropriate risk management framework for the Company.

The revised Risk Management Policy allocates oversight responsibility to the Board and the Audit Committee, whilst 
the establishment of risk management procedures, compliance and control rests with the Chief Executive Offi  cer, Chief 
Financial Offi  cer and senior executives and, at a daily operating level, with departmental managers, line managers and 
individuals as part of regular business conduct.

During the reporting period, both the Audit Committee and the Board received periodic presentations from management 
regarding strategies and procedures implemented by the Company to mitigate against signiﬁ cant risks to the business. 
In particular, the Audit Committee and the Board supervised the development of a formal Disaster Recovery Plan during 
FY2013 to ensure timely and accurate recovery of data and operations following an unexpected, sudden interruption to 
the normal operating environment. 

A summary of the Company’s Risk Management Policy is available on the Company’s website; however, given the 
commercially sensitive nature of its content, details of the Company’s Risk Management Plan have not been made public.

5.  MARKET DISCLOSURE & SHAREHOLDER RIGHTS

5.1  Market disclosure

During FY 2004, the Board adopted a Market Disclosure Policy, developed in accordance with the ASX Principles. Internal 
reviews of the Market Disclosure Policy indicate that both the continuous and periodic reporting obligations imposed 
under the ASX Listing Rules, and the Company’s internal procedures, are well understood by senior management. 

Infomedia remains committed to providing relevant, timely and accurate information to the market regarding ﬁ nancial 
information, performance, ownership and governance. A summary of the Market Disclosure Policy can be found on the 
Company’s website.

SUPERSERVICE.COM

73.

CORPORATE GOVERNANCE

5.2  Communicating with shareholders

Through a series of initiatives, Infomedia continues to demonstrate its commitment to promoting eff ective communication 
with all shareholders. The Company continues to embrace and develop its online content delivery for shareholders via the 
Company website where the following documents are located:

• 

• 

• 

• 

this Corporate Governance Statement; 

summaries of the various corporate governance charters, policies and guidelines; 

annual, and half yearly reports; 

a synopsis of the Infomedia business model; 

•  media releases, achievements, share price information; 

• 

• 

relevant notices relating to members’ meetings; and

the Company’s July 2000 Prospectus.

Infomedia has considered and adopted, as appropriate to its circumstances, the various methods of electronic 
communications contemplated by the ASX Principles.

5.3  Shareholder participation

Shareholder participation at general meetings is always encouraged. As usual, Infomedia’s independent auditor, BDO, will 
be present during the FY 2013 Annual General Meeting, and will be available to answer shareholder questions at that time.

6.  EXECUTIVE & NON-EXECUTIVE REMUNERATION

6.1  Infomedia’s remuneration and performance review policies

Upon recommendation of the then Remuneration and Nomination Committee, the Board adopted a Remuneration and 
Performance Evaluation Policy (Remuneration Policy) for Directors and senior executives in July 2004. 

The Remuneration Policy outlines the criteria for assessing the performance of the Board as a whole, the Directors as 
individuals, the Chairman of the Board and the senior executives. Further, it aims to provide a framework for structuring 
total remuneration that:

(a) 

facilitates both the short and long term growth and success of the Company; 

(b) 

implements a mixture of ﬁ xed, performance and equity based incentives;

(c) 

is competitive with the market place; and 

(d)  which is demonstrably linked to the Company’s overall performance. 

The Company also has two equity based incentive plans: 

(a)  an Employee Option Plan, applicable to certain eligible employees, including senior executives and executive Directors; and 

(b)  an Employee Share Plan, applicable to all permanent employees of one or more years of service, including senior 

executives but excluding both executive and non-executive Directors. 

These plans were established prior to Infomedia’s listing in August 2000 in accordance with both the Corporations Act 
and the ASX Listing Rules and were disclosed in the 14 July 2000 prospectus. In June 2005, the Board resolved to 
suspend the Employee Share Plan indeﬁ nitely. 

Further details of senior executive remuneration under the Employee Option Plan is included in the Remuneration Report.

6.2  Remuneration dichotomy – Executive versus Non-Executive

The Remuneration Policy (refer paragraph 6.1 above) was formulated with regard to the best practice measures contained 
in the commentary to Principle 8 of the ASX Principles. 

The range of remuneration incentives available* to Executive and Non-Executive Directors and staff  is summarised in the table below:

Components of Executive 
Director Remuneration*

Components of Non-Executive 
Director Remuneration*

Components of Senior Executive 
and Staff  Remuneration*

•  Directors’ fees

•  Directors’ fees

•  Salary

•  Statutory Superannuation contributions

•  Statutory Superannuation contributions

•  Statutory Superannuation contributions

• 

Incentive payments

•  Share options

•  Retirement beneﬁ ts

•  Bonuses

•  Share options

•  Commissions

* Note – the listed incentives for each category is optional and at the discretion of the Board.  Diff ering combinations of remuneration 
and incentives are off ered on a case by case basis.

74.

INFOMEDIA.COM

ADDITIONAL INFORMATION

Holder Name

Balance at 19-09-2013

Top 20 Holdings as at 19-09-2013

HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED

RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED  

CITICORP NOMINEES PTY LIMITED

NATIONAL NOMINEES LIMITED

RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED  

J P MORGAN NOMINEES AUSTRALIA LIMITED

BNP PARIBAS NOMS PTY LTD  

BNP PARIBAS NOMINEES PTY LTD ACF PENGANA  

UBS NOMINEES PTY LTD

JP MORGAN NOMINEES AUSTRALIA LIMITED  

CITICORP NOMINEES PTY LIMITED  

AMP LIFE LIMITED

EQUITY TRUSTEES LIMITED  

MR ANDREW PATTINSON

MR RICHARD GRAHAM

EQUITAS NOMINEES PTY LIMITED  <2874398 A/C>

SPANDOU INVESTMENTS PTY LTD

RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LTD  

OPITO INVESTMENTS PTY LIMITED  

MR PETER ALEXANDER BROWN

Total IC

39,157,242

28,651,289

22,270,321

18,922,025

12,414,285

9,352,482

7,957,219

7,638,176

6,507,064

6,259,951

6,155,000

4,130,189

2,670,000

2,447,567

2,376,559

2,088,599

1,850,000

1,724,362

1,525,000

1,350,000

185,447,330

304,833,155

%

12.845

9.399

7.306

6.207

4.072

3.068

2.610

2.506

2.135

2.054

2.019

1.355

0.876

0.803

0.780

0.685

0.607

0.566

0.500

0.443

60.836

Analysis of Holdings as at 19-09-2013

Security Classes
Fully Paid Ordinary Shares

Holdings Ranges

Holders

1-1,000

1,001-5,000

5,001-10,000

10,001-100,000

100,001-9,999,999,999

Totals

423

1,764

1,145

2,041

199

5,572

Total Units

326,670

5,572,562

9,633,631

64,433,237

224,867,055

304,833,155

%

0.107

1.828

3.160

21.137

73.767

100.000

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75.

CORPORATE DIRECTORY

CORPORATE DIRECTORY

Infomedia Ltd 

Telephone:  

Facsimile:  

Internet:  

Directors 

Company Secretary 

Chief Financial Offi  cer 

Registered Offi  ce 

Auditor 

Share Registry 

Lawyers 

357 Warringah Road

Frenchs Forest NSW 2086

ABN 63 003 326 243

+61 (02) 9454 1500

+61 (02) 9454 1844

infomedia.com.au

Richard Graham

Frances Hernon

Myer Herszberg

Nick Georges

Jonathan Pollard

357 Warringah Road

Frenchs Forest NSW 2086

BDO Australia

Level 10, 1 Margaret Street

Sydney NSW 2000

Boardroom Pty Ltd

Level 7, 207 Kent Street

Sydney NSW 2000

Thomsons Lawyers

Level 25 Australia Square Tower

264 George Street

Sydney NSW 2000

76.

INFOMEDIA.COM

 
 
 
 
 
 
 
 
 
 
 
 
NOTES

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