Slide 1: Full year results
Full year results.. SOCO CORPORATION LTD (ASX:SOC) FY2023 FULL YEAR RESULTS PRESENTATION 24 AUGUST 2023 ® 1
Slide 2: Agenda
Agenda. • Results overview • About SOCO • Financial performance • Outlook ®
Slide 3: Results overview
Results overview “ FY23 marks SOCO’s 9th consecutive year of revenue growth. ” ® Kaja. Brisbane Consulting Team. 3
Slide 4: Financial year results 23
REVENUE $19.7m DELIGHTING CLIENTS FOR 9.5 years NEW CLIENTS 27 Financial year results 23 OPERATING EBIT OPERATING EBITDA FINAL DIVIDEND $3.3m $3.6m 0.5c per share Great Place AUSTRALIAN OFFICES to Work Brisbane, Melbourne, Perth, Canberra, Sydney Certified CASH ON HAND DEBTOR DAYS AVERAGE HEADCOUNT
Slide 5: Continued strong organic growth across key metrics
RESULTS OVERVIEW Continued strong organic growth across key metrics FY2023 vs. FY2022 Consistent Revenue Growth $20.0m Revenue Operating EBIT3 +46.6% +32.8% $15.0m Growth over PCP2 Growth over PCP to $19.7m to $3.3m $10.0m Operating EBITDA1 Underlying NPBT4 $5.0m +31.6% +34.6% Growth over PCP Growth
Slide 6: Financial year 2023 milestones and achievements
RESULTS OVERVIEW Financial year 2023 milestones and achievements Initial Public Offering (IPO) Operational ▪ Oversubscribed initial public offering ▪ Accreditation of SOCO’s management system ▪ 73% of employees currently shareholders ISO9001 Quality, ISO27001 Information Security, ISO14001 Environme
Slide 7: We serve a diverse client pool
ABOUT SOCO FY2023 Revenue ACT – 58.7% We serve a QLD – 29.5% VIC – 6.7% diverse client pool NSW – 4.8% WA – 0.3% spanning different sectors and regions Pre-approved Australian Government Digital Transformation Digital Marketplace panel Diverse mix of clients in full year FY23 3.1% During FY23, clien
Slide 8: About SOCO
Shama. Brisbane Consulting Team. About SOCO “ Our mission is to elevate our clients, partners, and team to become the heroes of their story, standing shoulder-to-shoulder to ” ® help make their big ideas real. 8
Slide 9: Executive team & board
ABOUT SOCO Executive team & board Tom Stianos Chairman Executive Non-Exec Non-Executive Chairman Simon Forth Chair of Xref Ltd (ASX:XF1) and NED of Gale Pacific Chief Executive Officer Ltd (ASX:GAP); former Chair of Empired Simon joined SOCO in Q1 FY22, and under his Ltd (ASX:EPD) and MD of SMS Mana
Slide 10: Overview of who we are and what we do
ABOUT SOCO Overview of who we are and what we do Founded in 2013, and operating for 9 years Sustained organic annual revenue growth with 3-year CAGR of 56% SOCO’s consulting teams solve business problems by applying and modernising IT systems to improve business processes Delivers and supports enter
Slide 11: We deliver the digital transformation promise for our clients
ABOUT SOCO We deliver the digital transformation promise for our clients MODERN WORKPLACE BUSINESS APPLICATIONS OPERATIONS & FINANCE DATA AND ANALYTICS SECURITY & AI Collaboration & communication Integrated and purpose-built Finance and ERP solutions Enabling data-driven decisions Secure intelligent
Slide 12: Who we serve: our wonderful clients
ABOUT SOCO Who we serve our wonderful clients 12
Slide 13: Our community impact
CORPORATE RESPONSIBILITY Environmental, Social, Governance (ESG) Our community impact Greenfleet SOCO is undertaking practical action against climate change by supporting Greenfleet and seeking to offset carbon emissions for each of our team, with a goal to achieve this in FY24. Our team has already
Slide 14: Financial performance
Financial Luke. Melbourne Consulting Team. performance “ Profitable in every year since being founded 9 years ago with strong and consistent organic ” growth. ® 14
Slide 15: We've delivered strong financial performance with consistency
COMPANY FINANCIALS We’ve delivered strong financial performance with consistency 37.7% 58.3% Operating Revenue $3.5m EBIT Growth $3.32m $20.0m Growth $19.7m (2yr CAGR) (2yr CAGR) $3.0m $17.5m $2.50m $2.5m $15.0m $13.4m $2.0m $12.5m $1.75m $1.5m $10.0m $7.9m $7.5m $1.0m $5.0m $0.5m FY21 FY22 FY23 FY2
Slide 16: We've delivered strong financial results
COMPANY FINANCIALS We’ve delivered strong financial results Prospectus Forecast FY2023 FY2022 FY2023 Financial Summary ($000's) ($000's) Change ($000's) Change with consistency Revenue 19,693 13,433 46.6% 18,502 6.4% Operating EBITDA2 3,616 2,748 31.6% 3,952 -8.5% Strong and profitable organic reven
Slide 17: Strong balance sheet to support continued growth
COMPANY FINANCIALS Strong 30-Jun-2023 30-Jun-2022 balance sheet Balance Sheet ($000's) ($000's) Cash and cash equivalent 6,489 2,807 Trade and other receivables 1,729 1,453 to support continued growth Other assets 356 91 Property, plant and equipment 241 314 Right-of-use assets 102 250 Strong balanc
Slide 18: Reliable cash flow
COMPANY FINANCIALS Reliable cash flow FY2023 FY2022 Cash Flow ($000's) ($000's) Receipts from customers 21,701 14,661 Payments to suppliers/employees (18,134) (11,111) Cash conversion2 > 100% OCFBIT & IPO expense1 3,567 3,550 Minimal capex, < 1% of revenue Share issue costs (expensed) (699) - Net in
Slide 19: Highly aligned capital structure following successful IPO
CORPORATE OVERVIEW Highly aligned SHAREHOLDER STRUCTURE capital structure following successful IPO Founders, board, management, and employees. 400,000 $0.400 Other shareholders 350,000 $0.350 300,000 ✓ IPO in December 2022 was well oversubscribed and resulted in 73% 250,000 $0.300 of employees curre
Slide 20: Outlook
Outlook “ We continue to focus on expanding our services, fostering innovation, and investing in our people. ” ® 20
Slide 21: Momentum continues with strategic pillars for sustained growth
COMPANY OUTLOOK Momentum continues with strategic pillars for sustained growth Organic growth Inorganic growth ▪ Continuing to win contracts through ▪ Actively pursuing synergistic referrals, renewals and successful acquisitions that are EPS accretive, tenders and will complement our existing ▪ Oppo
Slide 22: A bright outlook for FY24 and beyond
COMPANY OUTLOOK A bright outlook for FY24 and beyond After a strong FY23, SOCO is focussed on maintaining momentum in new client acquisition, development of existing clients, along with further expansion of headcount, continued geographic penetration, and expansion of service offerings. ✓ The sales
Slide 23: Appendix
Appendix Steve. Melbourne Consulting Team. 23
Slide 24: Comparison of prospectus pro forma EBITDA to actual
APPENDIX Pro forma Pro forma Comparison of prospectus Actual Prospectus pro forma EBITDA Reconciliation of Prospectus pro forma to Actual pro forma Revenue FY23 ($000's) 19,693 FY23 ($000's) 18,502 Change 6.4% To actual pro forma EBITDA Gross profit 7,384 7,334 0.7% Other income 4 6 Selling expenses
Slide 25: Delivering results: small packets of work
HOW WE WORK Small. Packets. Of. Work. delivering results Discover. Design. A shared understanding of success The vision of the future SOCO's team of experienced Business Analysts Once requirements are agreed, our Solution and User Experience Consultants work closely Architects design a solution spec
Slide 26: Some examples of what we do for our clients
CASE STUDY Some examples of what we do for our clients Other projects include • Company intranet migration and redevelopment > Keeping staff informed with fresh information Technology: SharePoint With the sudden impact of COVID 19, the agency • International Safety Organisation integration needed to
Slide 27: Typical digital transformation process
TALENT AND CULTURE Typical digital transformation process Client Business Our approaches Solution Problem engagement market • Modernise existing systems, • Existing relationships • Discovery • Delivery business applications, data • RFQ/RFI • Current state analysis • Build solution, configuration sys
Slide 28: Legal disclaimer
LEGAL DISCLAIMER This presentation is dated 24 August 2023 (Presentation) and has business growth, industry growth or other trend projections, and been prepared by SOCO Corporation Ltd ACN 660 362 201 any estimated earning or other performance measures, are, or (Company). Shares in the Company are l
Slide 29: Contacts
contacts Brisbane – Head Office Level 4, 120 Edward Street Brisbane QLD 4000 Simon Forth Chief Executive Officer Sydney SOCO Corporation Ltd Level 15, 60 Station Street Email: simon.forth@soco.com.au Parramatta NSW 2150 Steve Parks Canberra Chief Financial Officer Level 1, 33 Allara Street SOCO Corp
Slide 30: Let's talk about your big ideas
Jack. Brisbane Consulting Team. Let’s talk about your big ideas. ®® Call 1300 364 833 soco.com.au 30