Fos Capital Ltd · ASX:FOS
Fos Capital — Shareholder Meeting (October 2024)
18 slides from Fos Capital's shareholder meeting presentation, Oct 29, 2024
Slide 1: 2024 AGM Presentation
For personal use only 2024 AGM Presentation 29 October 2024 Hoyts Entertainment Quarter in Sydney features custom Halo Circular Pendants, designed and manufactured by JSB Lighting
Slide 2: FOS Capital – Introduction
FOS Capital – Introduction Founder-led manufacturer & distributor of commercial LED lighting For personal use only • FOS manufactures a range of commercial luminaires, outdoor fittings, and linear extruded lighting, and distributes a range of commercial and architectural lighting solutions. • The co
Slide 3: Corporate Overview
Corporate Overview FOS Capital FOS-ASX Board of Directors For personal use only IPO date 3 June 2021 Sandy Beard Non-Executive Chair Share price (22 Oct 2024) $0.35 Shares on issue 53,806,139 Con Scrinis Managing Director Market capitalisation $18.8m Michael Koutsakis Executive Director Cash (30 Jun
Slide 4: Background
Background For personal use only 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
Slide 5: Brands & Solutions
Brands & Solutions For personal use only FOS Capital | 2024 AGM Presentation 5
Slide 6: Growth Strategy
Growth Strategy Consolidating fragmented markets via organic growth and M&A For personal use only • 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 h
Slide 7: Acquisitions
Acquisitions Track record of strategic, accretive acquisitions For personal use only FOS Capital | 2024 AGM Presentation 7
Slide 8: Diversification
Diversification Highly diversified with significant government project experience For personal use only Geographic exposures End-market exposures 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 includ
Slide 9: Entering Emergency & Exit Lighting
Entering Emergency & Exit Lighting Exclusive agreement with leading German manufacturer expands TAM For personal use only • Today FOS has entered into an exclusive Escape sign luminaire series Innovative lens system FlexiClick distribution agreement with leading global Emergency & Exit lighting prod
Slide 10: FY24 Highlights
FY24 Highlights Record earnings, dividend resumed as FOS achieves critical mass For personal use only Sales Underlying1 EBITDA Underlying NPAT $24.5m $2.1m $1.1m +43% vs pcp +116% vs pcp +88% vs pcp Underlying EBITDA margin Underlying EPS DPS 8.6% 2.3cps 1.0cps +60bp vs pcp +101% vs pcp No dividend
Slide 11: FY24 Financial Highlights
FY24 Financial Highlights Financials continue to strengthen on organic & acquired growth For personal use only Revenue ($m) EBITDA ($m) NPAT ($m) 1.1 24.5 2.1 17.1 0.6 13.5 1.0 0.4 0.6 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Record financials reported as FOS achieves critical mass and continues
Slide 12: FY24 Income Statement
FY24 Income Statement Successful execution driving earnings uplift on operating leverage For personal use only Underlying, A$m FY24 FY23 Change Sales 24.5 17.1 +43% Sales growth driven by strong organic & acquired growth, including 24% organic growth in 2H24 Gross profit 9.1 6.6 +38% Other income 0.
Slide 13: FY24 Cash Flow
FY24 Cash Flow Positive operating cash flow alongside ongoing investment For personal use only A$m FY24 FY23 Change Receipts from customers 24.9 17.5 +42% Payments to suppliers & employees -23.7 -17.7 +34% Other -0.2 0.0 -25% Operating Cash Flow 1.0 -0.1 nm Positive OCF on scale, earnings uplift Cap
Slide 14: FY24 Balance Sheet
FY24 Balance Sheet Well capitalised and positioned to execute on growth plans For personal use only A$m FY24 FY23 Change Cash 1.7 1.4 +19% Receivables 4.9 3.0 +65% Strong working capital management alongside integration of KLIK PP&E 1.0 0.6 +66% Other Assets 14.1 8.6 +64% Total Assets 21.8 13.6 +60%
Slide 15: Project Examples
Project Examples FOS supports a range of major government & corporate projects For personal use only FOS Capital | 2024 AGM Presentation 15
Slide 16: Outlook
Outlook FOS is well positioned to execute on a growing opportunity set For personal use only Orders on hand ($m) Active quotes ($m) 11.1 120 9.7 110 9.1 100 80 6.1 6.2 5.3 58 56 50 3.8 42 3.3 25 1.5 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Sep-24 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun
Slide 17: 1Q25 Update
1Q25 Update Significant sales growth on increased activity across infra projects For personal use only Sales ($m) A$m 1Q25 1Q24 Change Sales $8.3m $2.8m +194% 8.3 7.2 7.1 7.4 Orders on Hand $9.1m $4.7m +93% 5.5 Active Quotes $110m $81m +35% 4.2 4.3 3.1 2.8 • Sales growth was driven by increased acti
Slide 18: Contact
For personal use only 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