Simonds Group Ltd. · ASX:SIO
Simonds — H1 FY2024 Earnings Presentation
10 slides from Simonds's earnings presentation, Feb 12, 2024
Slide 1: FY24 Half Year Results
FY24 For personal use only Half Year Results E N D 3 1 ST D E C E M B E R 2 0 2 3 GROUP
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer This presentation is authorised by the Board of Simonds Group Limited (Company) and is current as at the date of the cover page. It is solely based on, and should be read in connection with, information contained on other periodic and continuous disclosure announcements
Slide 3: Delivering a sustained return to profitability
1H FY24 Delivering a sustained return to profitability Two consecutive quarters of Rapidly trading through older New brand identity and Simonds observed an increase positive NPAT following two low margin jobs, with the product hierarchy will be in customer deposit taking in years of reported NPAT lo
Slide 4: Effective delivery of profit improvement initiatives
1H FY24 Effective delivery of profit improvement initiatives • Revenue decreased as a result of a strategic decision to reduce site starts in line with expected market demand. Revenue1 EBITDA1 As such there were fewer jobs on site in the period and allowed the Group to efficiently trade through the
Slide 5: Income Statement
1H FY24 Income Statement 31-Dec-23 31-Dec-22 • Revenue from construction and related activities decreased by (11.8%) $m $m as a result of the stratgic decision to reduce the number of jobs on site. Continuing operations • Gross margin increased to $67.9m (+7.4%) during the period despite For persona
Slide 6: Balance Sheet
1H FY24 Balance Sheet 31-Dec-23 30-Jun-22 • Cash position remains healthy, with no core debt. The 1H24 cash movement includes a $4.0m investment in display homes during this $m $m period. Cash / Equivalents 9.6 15.1 For personal use only Receivables 38.9 39.9 • Accrued revenue decreased due to a low
Slide 7: Cash Flow
1H FY24 Cash Flow • Cash from operating activities remained positive despite 31-Dec-23 31-Dec-22 the lower receipts profile given improved gross margins $m $m and lower operating expenses. The $4.0m investment in display homes is reflected in the cash generated from For personal use only Cash flows
Slide 8: Key near term initiatives
1H FY24 Key near term initiatives The effective delivery of channel diversification, margin improvement and cost reduction initiatives provides the foundation for the continued delivery of improved results in FY24 and beyond. This supports the continued investment in further activities to diversify
Slide 9: Current trading conditions & outlook
Current trading conditions & outlook • Simonds expects improved operating results to continue into 2H24 driven by a mix shift to higher margin jobs on hand and lower operating costs. For personal use only • Management views more recent economic indicators as supportive of a return to confidence for
Slide 10: Thank you.
Thank you. For personal use only For more information contact: M A I L I N G A D D RE S S Locked Bag 4002 South Melbourne VIC 3205 P H YS I C A L A D D RES S Level 1, 570 St Kilda Road Melbourne VIC 3004 (+61) 3 9682 0700 simondsgroup.com.au Authorised for lodgement by Simonds Group Limited Board GR