Slide 1: 1H25 Result Presentation
1H25 Result Presentation 19 February 2025
Slide 2: Corporate Overview
Corporate Overview FOS Capital FOS-ASX Board of Directors IPO date 3 June 2021 Sandy Beard Non-Executive Chair Share price (14 Feb 2025) $0.34 Shares on issue 53,806,139 Con Scrinis Managing Director Market capitalisation $18.3m Michael Koutsakis Executive Director Cash (31 Dec 2024) $1.2m Net Debt
Slide 3: 1H25 Highlights
1H25 Highlights Strong earnings growth as FOS builds out critical mass Sales EBITDA NPAT $14.0m $1.4m $0.8m +42% vs pcp +62% vs pcp $0.1m in pcp EPS Operating Cash Flow Export Market Sales 1.5cps $2.5m $1.3m +508% vs pcp $(0.6)m in pcp +149% vs pcp RP Group Agreement New Market: Emergency & Exit Lig
Slide 4: 1H25 Financial Highlights
1H25 Financial Highlights Operating leverage driving strong financial outcomes Revenue ($m) EBITDA ($m) EBITDA margin (%) 14.6 1.4 14.0 10.1% 1.2 8.9% 8.4% 9.9 7.1% 8.6 8.5 0.9 0.6 4.2% 0.4 1H23 2H23 1H24 2H24 1H25 1H23 2H23 1H24 2H24 1H25 1H23 2H23 1H24 2H24 1H25 Strong financial results as FOS ach
Slide 5: Growth Strategy
Growth Strategy Consolidating fragmented markets via organic growth and M&A • As a leader in highly fragmented markets, FOS is able to acquire businesses and realise significant synergies, providing a base to take further market share. • The five acquisitions executed to date have been successfully
Slide 6: Key Acquisitions & Agreements
Key Acquisitions & Agreements Track record of strategic, accretive acquisitions FOS Capital | 1H25 Result Presentation 6
Slide 7: Diversification
Diversification Highly diversified with significant government project experience Geographic exposures (FY24) End-market exposures (FY24) Export Arts 2% 6% SA 4% Retail QLD 10% WA Transport 26% 10% 30% Education 18% NZ 15% VIC Office & 21% Comms Healthcare NSW 20% 20% 18% Note: Retail includes hospi
Slide 8: Entering Emergency & Exit Lighting
Entering Emergency & Exit Lighting Exclusive agreement with leading German manufacturer expands TAM • Today FOS has entered into an exclusive Escape sign luminaire series Innovative lens system FlexiClick distribution agreement with leading global Emergency & Exit lighting products manufacturer RP G
Slide 9: 1H25 Income Statement
1H25 Income Statement Successful execution driving earnings uplift on operating leverage Underlying, A$m 1H25 1H24 Change Sales 14.0 9.9 +42% Sales growth driven by strong organic & acquired growth Gross profit 6.0 4.3 +39% Other income 0.1 0.1 +1% Expenses -4.7 -3.6 +32% Expenses grew less than rev
Slide 10: 1H25 Cash Flow
1H25 Cash Flow Strong Cash Flow generation and stable capital management A$m 1H25 1H24 Change Receipts from customers 17.3 9.3 +87% Payments to suppliers & employees -14.7 -9.8 +50% Other -0.1 -0.1 Operating Cash Flow 2.5 -0.6 nm Strong OCF improvement on scale, earnings Capex -0.0 -0.0 Acquisitions
Slide 11: 1H25 Balance Sheet
1H25 Balance Sheet Well capitalised and positioned to execute on growth plans A$m 31 Dec-24 30 Jun-24 Change Cash 1.2 1.7 -27% Receivables 2.7 4.9 -45% Strong working capital management alongside integration of KLIK PP&E 1.0 1.0 -6% Other Assets 14.7 14.2 +4% Total Assets 19.6 21.8 -10% Payables 1.1
Slide 12: Outlook
Outlook FOS is well positioned to execute on a growing opportunity set Orders on hand ($m) Active quotes ($m) 11.1 KLIK order 120 book ~$5m at 9.7 110 110 9.1 8.8 acquisition 100 80 6.1 6.2 5.3 58 56 50 3.8 42 3.3 25 1.5 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Sep-24 Dec-24 Dec-20 Ju
Slide 13: Appendices
Appendices
Slide 14: FOS Capital – Introduction
FOS Capital – Introduction Founder-led manufacturer & distributor of commercial LED lighting • FOS manufactures a range of commercial luminaires, outdoor fittings, and linear extruded lighting, and distributes a range of commercial and architectural lighting solutions. • The company remains founder-
Slide 15: FOS Capital – Background
FOS Capital – Background History Key Management April 2019 – FOS Lighting Group (100% owned by FOS Capital) Con Scrinis founded by FOS MD Con Scrinis and ED Michael Koutsakis to Managing Director target lighting requirements in the commercial, retail, and industrial building industries Over 40 years
Slide 16: FOS Capital – Brands & Solutions
FOS Capital – Brands & Solutions FOS Capital | 1H25 Result Presentation 16
Slide 17: Project Examples
Project Examples FOS supports a range of major government & corporate projects FOS Capital | 1H25 Result Presentation 17
Slide 18: Contact
Contact Con Scrinis, Managing Director con@foslighting.com.au Chadstone Shopping Centre’s Australian-first Grid Shell Roof features 643 Viento RGBW linear LED luminaires, supplied by Megabay