Slide 1: FY24 full year results
FY24 full year results SOCO CORPORATION LTD (ASX:SOC) FY24 RESULTS OVERVIEW 30 AUGUST 2024 ® 1
Slide 2: Contents
Contents Results overview Financial performance • Summary • Revenue and profitability • Operations • Balance sheet • Acquisition • Cashflow About SOCO Outlook • Who we are • Outlook and revenue growth • Our clients • Service offerings ®
Slide 3: Results overview
RESULTS OVERVIEW Comparison with previous corresponding period (FY24 vs. FY23) $20.0m $18.0m Revenue Q4 Operating EBITDA1 $16.0m $11.2m $20.6m $0.8m $14.0m $9.8m +11.7% growth over On revenue of $6.2m $12.0m PCP2 of $18.4m $10.0m $7.1m $8.0m Operating EBITDA1 Statutory NPAT $6.0m $4.0m $2.6m $4.1m $
Slide 4: FY24 in summary
RESULTS OVERVIEW FY24 in summary Consolidated revenue of $20.6m, up 12% on FY23 (pcp) including $7.0m contribution from AxSym Operating EBITDA of $0.4m, down 88% on pcp Q4 contributed $0.8m Operating EBITDA on revenue of $6.2m Sebastian Rizzo, CEO Net loss after tax of ($0.5m) compared with $1.5m pr
Slide 5: Return to profitability in Q4 and preparing for growth in FY25
RESULTS OVERVIEW – RETURN TO PROFITABILITY Return to profitability in Q4 and preparing for growth in FY25 The first half was impacted by industry-wide delays and slowing demand from the Federal Government. Excess capacity was retained in H1, and the business was right- sized in Q3 in response to del
Slide 6: We serve a diverse client pool
RESULTS OVERVIEW We serve a diverse client pool FY2024 Revenue ACT – 54% spanning different sectors and regions QLD – 29% VIC – 5% NSW – 10% Other – 2% Strong client retention with existing clients delivering 85% of revenue 38 new clients delivered 15% of FY24 revenue. These span State and Australia
Slide 7: AxSym acquisition integration update
RESULTS OVERVIEW – ACQUISITION AxSym acquisition integration update AxSym acquisition (in November 2023); successfully Strengthened SOCO’s federal government presence including additional panel access and Defence Industry Security Program membership. Bolstered business development activities with co
Slide 8: We’re on a mission.
We’re on a mission. Zehra. Sydney Consulting Team. 8
Slide 9: Overview of who we are and what we do
ABOUT SOCO – WHO WE ARE Overview of who we are and what we do We have strong values driven culture that is key to our shared success. SOCO (ASX:SOC) is one of Australia’s leading IT consultancies – putting people at the very centre of what we do. ✓ Our consulting teams solve business problems by app
Slide 10: Who we serve
ABOUT SOCO – SOME OF OUR CLIENTS Who we serve our growing client base 10
Slide 11: We deliver the digital transformation promise for our clients
ABOUT SOCO – MAJOR SERVICE OFFERINGS We deliver the digital transformation promise for our clients DOCUMENT BUSINESS ENTERPRISE DATA AND INFORMATION SERVICE CLIENT INNOVATION MANAGEMENT APPLICATIONS RESOURCE ANALYTICS SECURITY & AI MANAGEMENT AND ADVISORY AND COMMS Integrated and PLANNING Enabling d
Slide 12: Financial Performance.
Financial Luke. Consultant Performance. Business Applications Melbourne. ® 12
Slide 13: Financial Summary
FINANCIAL PERFORMANCE FY24 FY23 Financial Summary ($000's) ($000's) FY24 Revenue4 20,560 18,405 financial results Operating EBITDA2 Depreciation 424 (269) 3,676 (301) Total revenue increase of $2.15m (11.7%) versus previous Amortisation of acquired intangibles (443) - corresponding period. A decline
Slide 14: Strong Balance Sheet
FINANCIAL PERFORMANCE 30 Jun 2024 30 Jun 2023 Strong Balance Sheet ($000's) ($000's) balance sheet Cash and cash equivalent 2,310 6,489 Trade and other receivables 2,984 1,729 Other assets 226 356 Property, plant and equipment 187 241 Strong balance sheet with cash on hand of Right-of-use assets 966
Slide 15: Cash Flow
FINANCIAL PERFORMANCE FY24 FY23 Cash Flow ($000's) ($000's) Reliable Receipts from customers 22,588 21,701 cash flow Payments to suppliers/employees OCFBIT, acquisition & IPO costs1 IPO costs (expensed) (21,825) 763 - (18,134) 3,567 (699) Positive cash conversion despite soft profit Acquisition cost
Slide 16: Outlook
Outlook “ $15.5m FY25 delivery contracts already signed, and targeting over 30% headline revenue growth. ” ® Kaja. Brisbane Consulting Team. 16
Slide 17: A bright outlook for FY25 and beyond
COMPANY OUTLOOK A bright outlook for FY25 and beyond Whilst market demand remains inconsistent, the Company has already signed contracts worth $15.5m for delivery in FY25. Contracts totalling a further $3.5m are at a late stage in the pipeline. The Company expects revenue growth of over 30% in FY25
Slide 18: Contacts
Brisbane – Head Office contacts Level 4, 120 Edward Street Brisbane QLD 4000 Sydney Sebastian Rizzo Chief Executive Officer Level 15, 60 Station Street Parramatta SOCO Corporation Ltd NSW 2150 Email: sebastian.rizzo@soco.com.au Canberra Steve Parks Level 1, 33 Allara Street Canberra Chief Financial
Slide 19: Legal Disclaimer
LEGAL DISCLAIMER This presentation (Presentation) and has been prepared by SOCO any estimated earning or other performance measures, are, or Corporation Ltd ACN 660 362 201 (Company). Shares in the may be, forward-looking statements. Such statements involve Company are listed on ASX (ASX code: SOC)
Slide 20: Let’s talk about your big ideas.
Jack. Modern Workplace Consultant. ®® Let’s talk about your big ideas. Call 1300 364 833 soco.com.au 20