Bsa Limited · ASX:BSA
Bsa — Investor Presentation (February 2020)
20 slides from Bsa's investor presentation, Feb 25, 2020
Slide 1: FY20 Half Year Results Review
Monash University FY20 HALF YEAR RESULTS REVIEW
Slide 2: Agenda
AGENDA 1. FY20 first half highlights 2. Group financials 3. Operational performance 4. Strategy update 5. Outlook BSA Stop for Safety Day 2019
Slide 3: Half Year Highlights
Half Year Highlights Positioned for growth – strong financial performance coupled with a robust pipeline of opportunities. Strong Continuing Organic Growth Order Book New Markets & Innovation Operations EBITDA (reported) from nbn – acceleration of OMMA Robust order book across all Su
Slide 4: Financial Performance – Continuing Operations
Financial Performance – Continuing Operations Continued growth in revenue, profit and margin%. $258.9m Revenue of $258.9m, up 30.4% on pcp for continuing operational streams. Revenue Recurring revenue of 81% has substantially increased with the divestment of HVAC Build Major Projects. H1 19 = $1
Slide 5: The BSA transformation journey
The BSA transformation journey Recurring revenue of 81% following the divestment of HVAC Build Major Projects. Business Unit Revenue Mix Business Unit Recurring Reported EBITDA 100% Recurring 81% 52% 62% 58% Revenue % 90% 19% 29% 31% 6.6% 80% 40% 14.0 7.0% 6.2% Proportion of total revenue 6.0% 70% 2
Slide 6: Group Financials
GROUP OMMA Installation FINANCIALS
Slide 7: Profitability – Continuing Operations
Profitability – Continuing Operations Strong conversion of revenue growth into EBITDA, up 39.1% on the prior comparative period. Summary ($'m) H1 20 H1 19 Change Change % Group Revenue Revenue $258.9 $198.5 $60.4 30.4% ($'m) 300 EBITDA (reported) $12.8 $9.2 $3.6 39.1% $258.9 250 $208.4 $198.5 EBITDA
Slide 8: Cash Flow
Cash Flow Strong cash performance achieving 66% OCFBIT* conversion and increased net cash position. Cash flow results ($'m) H1 20 H1 19 Change Operating Cashflows (OCFBIT) ($'m) EBITDA $12.8 $9.2 $3.6 9 $8.4 Non-cash & working capital ($4.4) ($5.8) $1.4 8 7 6 Operating Cash flow before interest and
Slide 9: Operational Performance
80 Anne Street OPERATIONAL PERFORMANCE
Slide 10: Health & Safety Performance
Health & Safety Performance Significant further investment in BSA safety processes continue to drive improvement. Refreshed BSA Safety Absolutes were released to the workforce at the national BSA Stop for Safety Day to further embed safety culture through the operations. Future initiatives inclu
Slide 11: Segment Results – Continuing Operations
Segment Results – Continuing Operations Revenue, profit and margin growth in Connect and Fire Build funding investment in Maintain for future growth. Revenue ($'m) H1 17 H1 18 H1 19 H1 20 Mvt Group Revenue ($'m) Connect 85.3 137.7 117.7 150.8 33.1 300 $258.9 Fire Build 19.0 25.7 31.1 48.5 17.4 250 $
Slide 12: Business Performance – Connect
Business Performance – Connect Strong performance coupled with disciplined investment to support future growth. Revenue Summary ($'m) H1 20 H1 19 Change Change % ($'m) 160 $150.8 Revenue $150.8 $117.7 $33.1 28.1% $137.7 140 $117.7 120 100 $85.3 EBITDA (reported) $11.7 $8.6 $3.1 36.0% 80 60 40 EBITDA
Slide 13: Business Performance – Fire Build
Business Performance – Fire | Build Fire Build remains a market leader with strong financial performance and key new projects. Summary ($'m) H1 20 H1 19 Change Change % Revenue ($'m) Revenue $48.5 $31.1 $17.4 55.9% 60 $48.5 EBITDA (reported) $3.9 $2.3 $1.6 69.6% 40 $31.1 $25.7 $19.0 20 EBITDA % 8.0%
Slide 14: Business Performance – Maintain
Business Performance – Maintain Investment into people, process and technology to set a platform for further growth. Revenue Summary ($'m) H1 20 H1 19 Change Change % ($'m) 80 Revenue $59.6 $49.7 $9.9 19.9% $59.6 60 $49.7 $45.0 EBITDA (reported) $0.9 $1.8 ($0.9) (50.0%) $41.5 40 EBITDA % 1.5% 3.6% (
Slide 15: Strategy and Outlook
Estia Health Solar Installation STRATEGY AND OUTLOOK
Slide 16: Strategy Update
Strategy Update Our strategy to move to end to end asset management across Property and Telecommunications remains unchanged – robust platform in place. To be our clients indispensable partner to design, deliver and manage Vision innovative asset solutions Grow Diversify Optimise Innovate Strategy A
Slide 17: Outlook
Outlook Market Conditions (external factors) Favourable markets & robust pipeline – growth opportunities in existing markets As clients seek to reduce costs we will leverage economies of scale and improved automation to maintain margins Significant opportunities in adjacent and complementary m
Slide 18: Appendix
Curtin University APPENDIX
Slide 19: Group Financial Results – Continuing vs Discontinued
Group Financial Results – Continuing vs Discontinued Continued growth in underlying business. Divested business substantially complete with minimal financial impact expected in H2. H1 FY20 Financial Results ($'m) H1 20 - CO H1 20 - DO Group H1 19 - CO PCP Δ - CO Δ% A B A+B C D=A-C D/C Revenue $258.9
Slide 20: Important Notice
IMPORTANT NOTICE Important Notice This presentation has been prepared by BSA Limited (the “Company”) and provides general background information about the Company’s activities. That information is current at the date of this presentation. The information is a summary and does not purport to be compl