Slide 1: Annual Results - 2018
For personal use only Annual Results - 2018 Slide 1
Slide 2: Veris national professional services business
For personal use only Veris is a national professional services business offering surveying, professional and advisory and geospatial services Slide 2
Slide 3: FY2018 Financial Dashboard
FY2018 Financial Dashboard For personal use only Revenue EBITDA1 NPATBA3 $106.8m $11.2 $5.3m 45% 96% 92% Cash DPS Net Debt $5.6m 0.5 cents $8.0m 1. EBITDA is a non-IFRS measure 2. % increase from prior period represents the movement from continuing operations 3. Underlying NPATBA Slide 3
Slide 4: FY2018 Highlights
FY2018 Highlights For personal use only – Transition to consulting business complete – Focus on driving Shareholder value Strategic – Completed Elton Consulting Group acquisition – Achieved stage one milestone target of $100 million revenue – Finalised integration of Surveying business by 30 June 20
Slide 5: Revenue Bridge FY17 to FY18
Revenue Bridge FY17 to FY18 For personal use only $m 100 5.1 Revenue from discontinued 5.5 contracting business has been 90 34.4 5.1 replaced by consulting revenue. 80 17.5 Organic Surveying revenue growth of 27% on FY17 revenue was driven 70 from increased Infrastructure projects works in Eastern A
Slide 6: Revenue Analysis – strong exposure to east coast infrastructure
Revenue Analysis – strong exposure to east coast infrastructure For personal use only Survey Revenue by Location – FY18 Survey Revenue by Industry – FY18 Resources WA 10% 17% NSW/ACT 37% Property 40% QLD/NT 19% Infrastructure Vic/SA/Tas 50% 27% – Approximately 83% of revenue from the east coast, inc
Slide 7: Veris Revenue
Veris Revenue For personal use only Consistent increase in revenue achieved through acquisition, organic growth and integration efficiencies $120.0 Professional & Advisory Surveying & Geospatial $100.0 $80.0 $60.0 $40.0 $20.0 $- $m $m $m $m $m $m $m $m 1 2012 2013 2014 2015 2016 2017 2018 2019 Slide
Slide 8: National Revenue by Region FY19 forecast
National Revenue by Region FY19 forecast For personal use only Survey & Geospatial $100m Professional and Advisory $25m Total $125m $20m1 $4m1 $18m1 $14m1 $1m1 $39m1 $27m1 Slide 8 1 Estimated annualised figures for FY18, pro-forma for acquisition of Elton $2m1
Slide 9: Cash flow
Cash flow For personal use only Borrowings $000 Opening 1 July 2017 3,375 Drawdown Elton 11,000 $m Repayments (750) Closing 30 June 2018 13,625 30 25 20 11.2 10.2 11.0 16.0 15 1.8 1.1 3.8 10 1.2 14.5 4.6 5 5.6 0 Opening EBITDA Working Capex Interest Equip Debt Acquisitions Dividend Debt/HP Closing C
Slide 10: FY18 Results Overview
FY18 Results Overview For personal use only $m FY18 FY17 Revenue 106.8 73.5 EBITDA 11.2 96% 5.7 Depreciation (3.6) (3.7) Acquisition related costs (1.6) (1.2) Restructuring costs1 (1.8) (0.9) Share-based payments (1.0) (0.3) EBITA 3.2 900% (0.4) Amortisation (4.1) (4.2) EBIT (0.9) 80% (4.6) Net inte
Slide 11: FY18 Balance Sheet
FY18 Balance Sheet For personal use only $m FY18 FY17 Cash 5.6 14.6 Elton Purchase Consideration $000 Receivables 30.9 16.0 Work in progress 10.5 4.6 Net Assets acquired 1,853 Brand 293 Other current assets 1.7 1.1 Customer relationships 3,496 Plant and equipment 15.2 11.0 Goodwill 12,251 Intangible
Slide 12: FY18 Cash flow
FY18 Cash flow For personal use only $m FY18 FY17 EBITDA 11.2 5.7 Working capital/other (10.2) 1.6 Net Interest (1.1) (0.9) Operating cash flow (0.1) 6.4 Capex (net of HP) (1.8) (0.8) Equipment disposals 3.8 0.4 Free cash flow 1.9 6.0 Acquisitions (16.0) (10.0) Dividend (net of DRP) (1.2) (1.0) Borr
Slide 13: Amortisation of Intangibles
Amortisation of Intangibles For personal use only Gross Amortisation $m Amortisation After Tax $m 4.5 3.5 4.0 4.2 4.1 3.0 3.5 3.8 2.9 2.9 2.5 2.7 2.7 2.7 3.0 3.2 3.0 2.0 2.2 2.5 2.7 1.9 2.0 1.5 2.1 1.5 1.0 1.0 0.5 0.5 - - FY15 FY16 FY17 FY18 FY19F FY20F FY21F FY15 FY16 FY17 FY18 FY19F FY20F FY21F Ba
Slide 14: Addressing the project cycle
Addressing the project cycle For personal use only Maximising exposure to the project development lifecycle Realising value from initial concept, through construction and during ongoing maintenance Slide 14
Slide 15: Veris Strategy
Veris Strategy For personal use only Professional and Advisory Surveying Geospatial Professional and Advisory Services are Surveying is a profession that involves examining and Geospatial Services relate to products, services and tools engaged to provide expert advice to businesses, recording the fe
Slide 16: NSW / ACT
NSW / ACT For personal use only Operations Outlook - NSW experiencing unprecedented infrastructure (road, rail, runway) - Continued strong revenue growth. and urban development growth, with major projects forecast to 2025. - Anticipated engagement on significant new major projects. - Revenues in 201
Slide 17: QLD / NT
QLD / NT For personal use only Operations Outlook - Very strong growth across the state in 2017-18. - Positive movement continues in the Residential Communities market - Utilisation of National Survey Capability/Technology providing access and additional revenue in non-traditional markets. - Solar p
Slide 18: VIC, SA, TAS
VIC, SA, TAS For personal use only Operations Outlook - Adoption of regional management structure. - 2018/19 to be a year of consolidation and margin growth - New premises in Devonport and Launceston. - Move to single Melbourne presence in Southbank in late 2018 to integrate all Melbourne based oper
Slide 19: WA
WA For personal use only Operations Outlook - WA Region is continuing to see signs of recovery in the Resource - Growth continues to look positive in the Resource Sector Sector driven largely through projects in the Pilbara and Eastern Goldfields - Emerging opportunities in the Geospatial service of
Slide 20: Aqura Technologies
Aqura Technologies For personal use only Operations Outlook - Aqura has seen significant growth through the award of several - Aqura has forecasted strong revenue growth in FY19 approaching multi project contracts and has invested in the resources required to $17m. This revenue growth is underpinned
Slide 21: Case studies
Case studies For personal use only Sydney Light Rail Western Sydney Airport Inland Rail Ivanhoe Estate Slide 21
Slide 22: Case studies
Case studies For personal use only Sydney Metro Parramatta Road Renewal Melbourne Metro Queensland Solar Farm Slide 22
Slide 23: Summary and Outlook
Summary and Outlook For personal use only FY2018 FY2019 – Completion of integration of national surveying business ‒ Focus on Margin ahead of growth in Surveying business – Revenue synergies and organic growth, benefited from strong ‒ Stabilisation period exposure to east coast infrastructure invest
Slide 24: Corporate Directory
Corporate Directory For personal use only Capital Structure Share Price Share price (ASX: VRS) $0.225 1 Ordinary shares 350m Market capitalisation $79m Cash (30-June-18) $5.6m Debt (30-Jun-18) $13.6m Enterprise value $94m Dividend per share (FY18) $0.005 Dividend yield 2.0% Board and Management Dere
Slide 25: Disclaimer
Disclaimer For personal use only This Document should not be considered as an offer or invitation to subscribe for or purchase any securities in Veris Limited (“Veris” or the “Company”) or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for
Slide 26: Thank you
For personal use only Thank you – Perth Level 12, 3 Hasler Road T 08 9317 0600 Locked Bag 9 F 08 9317 0611 Osborne Park WA 6017 mail@veris.com.au Australia veris.com.au Slide 26