Slide 1: H1 FY24 Results and Business Update
Secure. Sustainable. Scalable. H1 FY24 Results and Business Update 23 February 2024 Secure. Sustainable. Scalable. 1 spirit.com.au
Slide 2: About us
About us Spirit Technology Solutions provides services and solutions that enable organisations to: Secure • Strengthen their security posture to match the constantly changing cyber threat landscape. Sustainable • Leverage intelligent, clean technologies to measure and reduce their carbon footprint,
Slide 3: Our Trajectory
Our Trajectory Our past Where we are now Where we are going Spirit was a provider of fixed wireless infrastructure Spirit currently focuses on providing secure digital Spirit is moving toward becoming one of Australia’s and IT Services including high-speed internet, workspaces with three key offerin
Slide 4: Our go-to-market strategy
Our go-to-market strategy As a business with a national footprint, a skilled team and key partnerships, we are well positioned to help organisations solve the key challenges they face. The market is asking for solutions that improve their resilience to cyber attacks, climate change and are responsiv
Slide 5: Acquisition of InfoTrust
Acquisition of InfoTrust Secure. Sustainable. Scalable. 5 spirit.com.au
Slide 6: Strategic Rationale
Strategic Rationale ✓ Expands Spirit’s geographic presence with a deeper footprint in Sydney and Melbourne, 1 Highly complementary to Spirit’s cyber offering ✓ ✓ complementing Spirit’s well-established presence in Brisbane. Strengthens relationships with key cyber security vendor partners. Minimal c
Slide 7: Overview of InfoTrust
Overview of InfoTrust Summary Diversified customer base of ~400 customers • Major provider of cyber security solutions to ~400 Australian businesses, with a Financials footprint across Melbourne, Sydney, Brisbane and Manila 19% - Provides a range of valued-added assurance and consulting services inc
Slide 8: InfoTrust Vendors and Customers
InfoTrust Vendors and Customers High Value Key vendor partners Snapshot of InfoTrust’s customers 2020 2022 ANZ SMB Partner of the Year APAC Partner of the Year 2020, 2021, 2023 2019 Partner of the Year awards Emerging Partner of the Year 2016 2015 Partner of the Year APAC Innovation Partner of the Y
Slide 9: InfoTrust Transaction Funding and Terms
InfoTrust Transaction Funding and Terms Key Commercial Terms Sources and Uses of Funds • Total consideration payable for the Acquisition is $34.6 million, comprising: ‒ $14.0 million in cash on completion; ‒ $14.0 million in Spirit shares at 4.6c per share, totaling 304.3M shares (Scrip Consideratio
Slide 10: Combined Group Security Services & Solutions
Combined Group Security Services & Solutions Significant margin accretion opportunities from InfoTrust’s additional offerings and scale, combined with the revenue uplift from the provision of Spirit’s SOC services to InfoTrust customers Significant Growth 1 Complementary Capabilities 2 Enhanced Offe
Slide 11: Strategy and investment case
Strategy and investment case Secure. Sustainable. Scalable. 11 spirit.com.au
Slide 12: Growth Pillars
Growth Pillars The InfoTrust Acquisition demonstrates execution of our refreshed go-to-market strategy, which provides a platform for Spirit to become one of Australia’s leading providers of modern and secure digital workplaces 1 Customer Growth 2 Partnerships 3 Expand Offerings 4 Inorganic Growth C
Slide 13: Investment highlights
Investment highlights Market leading Strong market tailwinds Advancing accretive Experienced board and Return to positive operating Australian provider of cyber across all three core acquisition opportunities executive team with cashflows in FY25 and security, sustainability and markets of cyber sec
Slide 14: Financial Results
Financial Results Secure. Sustainable. Scalable. 14 spirit.com.au
Slide 15: Key highlights
Key highlights • Group revenue for H1 FY241 of $57.03 million and Group Underlying EBITDA* of $160,000 in line with unaudited results • Cyber Security achieved underlying EBITDA* of $621K (H1 FY23: $259K) on half- year sales revenue of $19.22M (H1 FY23: $14.85M) • Previous $8M debt repayment replace
Slide 16: Operating results
Operating results Consolidated Financials Six-Month Period Ending December 31 $ in 000’s H1 FY24 H1 FY23 Change ($’000) Revenue 57,032 67,289 (10,257) • Total revenue and other Other income 38 income for the 172 134 Consolidated Entity for Revenue and other income 57,204 67,327 (10,123) H1 FY241 was
Slide 17: Segment P&Ls
Segment Reporting H1 FY24 Segment P&Ls 1 $ in 000’s Cyber Security Communication Managed Corporate Total & Collaboration Services Revenue 19,223 19,784 18,160 (161) 57,006 Underlying EBITDA* 621 3,483 (2,458) (1,486) 160 Depreciation and amortisation expense (exc. (241) (673) (486) - (1,400) amortis
Slide 18: Financial Notes
Financial Notes To be read in conjunction with the Directors’ Report and Annual Financial Statements for the six Months ended 31 December 2023 1 FY24 refers to the 12-month period 1 July 2023 to 30 June 2024. 2 Q4 FY24 refers to the 3-month period 1 April 2024 to 30 June 2024. 3 FY25 refers to the 1
Slide 19: Combined Executive Team
Combined Executive Julian Paul Miller Zoe Rosenwax Challingsworth Team Managing Director & CEO Chief Financial Officer Head of People Our executive team has extensive experience across Cyber Security, Managed Services and Communication & Collaboration. Nathan Knox James Harb Elie Ayoub Simon McKay1
Slide 20: Disclaimer
Disclaimer Secure. Sustainable. Scalable. 20 spirit.com.au
Slide 21: Secure. Sustainable. Scalable.
Secure. Sustainable. Scalable. For further information: Corporate Investors Julian Challingsworth ` Gabriella Hold Managing Director Automic Markets julian.challingsworth@spirit.com.au gabriella.hold@automicgroup.com.au +61 403 018 024 +61 411 364 382 Secure. Sustainable. Scalable. 21 spirit.com.au