PVCA AGM LOOKS TO BRIGHT FUTURE

The Print & Visual Communication Association (PVCA) held its 2022 Annual General Meeting and industry event in Perth yesterday, reporting impressive financial and membership results, and a strong path forward.

At the AGM, which was followed by an industry networking event, PVCA said membership was up, financial targets had been exceeded, the operating budget was in surplus, its property portfolio was in full repair, and that the association is well positioned to serve print and related businesses, and the industry as a whole, in the years ahead.

Rodney Frost, honorary treasurer, PVCA and CEO at The Lamson Group, said the 2022 accounts were “strong, with impressive results” in terms of revenue and profit. He said, “Despite the challenges post-Covid, the former PVCA board worked hard to maintain the association’s stability in the first half of the year, and the merged team with TRMC and PVCA board executed the implementation of many improved services, with a firm passion and commitment to a strong future, for not only the association, but for the members of today and tomorrow.

“We are proud to report that we exceeded our financial targets, achieving a PVCA member revenue of $458,000, an increase of 15 per cent, and an operating budget surplus of $256,000,” commented Frost.

Total revenue increased by 149.8 per cent over 2021. Operating expenses, excluding asset write-downs, achieved a 19.3 per cent reduction.

Matt Aitken, president, PVCA, and CEO at IVE Group, outlined the importance the merger, saying that the operational assessment and strategic review over the past twelve months has been for the sustainability of the association.

He said, “I am immensely proud to have led this transformation alongside the board, the executive, our supply partners, and key industry stakeholders. Together, we have moved beyond traditional print-centric language and positioning, recognising that our membership encompasses packaging, publishing, mail, warehouse and logistics, suppliers, and producers – all as one industry.

“We are an interrelated industry operating in synergy, united by the end products we create using ink, engineering, craft, skills, workflow solutions, and optimised distribution. Our new name is a stepping-stone in this journey, a representation of our commonality and our unique manufacturing status within the Australian economic landscape,” commented Aitken.

The association carries a strong property portfolio, valued at $3.1m, with three commercial properties, located in Mulgrave, VIC, Newmarket, QLD and Wayville, SA. PVCA said the properties required immediate attention upon the merger, to ensure they were in full repair to achieve appropriate commercial leasing arrangements. These repairs, and in the case of the Mulgrave, VIC, property make-good, have been completed, and both Newmarket, QLD and Wayville, SA have achieved long-term lease agreements, with commercial lease rates applied and stable tenancy.

The Mulgrave, VIC property is now in full repair and on the market for lease, seeking to achieve 5-7 per cent yield for the association in 2023/24 and beyond. While commenced in 2022, some expenses to these repairs and maintenance requirements will be reflected in the 2023 accounts.

The November 2021 Burswood property sale achieved $1,13m cash at bank after expenses for the association. These monies had been held within the balance sheet from 2021 through to year end 2022, until December last year, when some of these monies and other cash reserves from the association were moved to Fixed Term Deposits of three and nine months to deliver a higher cash yield of 3.06 per cent and 3.55 per cent pa respectively, as the merged entity finalised strategic discussions with members and prepared for the 2023/2024 operating budget.

The evening session following the AGM was sponsored by Ricoh Australia, with industry attendees learning of the future strategic focus in the year ahead.

Ricoh has been a long-term partner of the association, supporting information metrics surveys and better business tools summits for PVCA members. Mark Moro, National Ricoh Graphic Communications sales manager, said, “Ricoh is immensely proud to be a dedicated supporter of the PVCA, it is the peak industry body of our customers, and a strong industry is important for all players – suppliers and producers alike. I thank Matt, Rodney, Kellie, and the team for their tireless work for the industry. Ricoh remains active and committed to the future projects and strategies that benefit our customers and prospective customers.”

Speaking at the event, Kellie Northwood, CEO PVCA, said, “The past twelve months has seen a significant amount of work behind the scenes, that has reflected well in the 2022 financial reporting and will continue to reflect well in the 2023 financials.

“That work has included asset improvement, valuable heritage retrieval project, operational expense review, revision of key supply arrangements and assessment of activities to ensure alignment to the focus areas and needs members have called for.”

The key focus areas of the association include: industry-specific workplace relations advice and legal services, skills and training revitalisation, industry collaboration and networking, access to industry-specific standards and ESG programmes, and better business tools programmes.

Northwood said, “Our over-arching aim is to ensure each and every member business is more successful through their membership with PVCA, whilst maintaining our commitment to the industry through advocacy and representation on all levels of government, education, and regulation.

“I look forward to the challenge ahead, and now that we have completed the merger, and the back-end operational projects, we can begin releasing some much-needed projects for our members.

“Further it would be remiss of me not to thank Matt Aitken, Rodney Frost, and the broader board for their voluntary and extensive support through the process. To the PVCA team and key supply partners also, without your hard work we would not be in the position we are in today. To the members, your loyalty and commitment to the industry and association is a testament to you all and I commit to delivering what we say we will.”