Cleanspace Holdings Ltd. · ASX:CSX
Cleanspace — FY2024 Earnings Presentation
17 slides from Cleanspace's earnings presentation, August 2024
Slide 1: Full Year FY24 Results Presentation
FULL YEAR FY24 RESULTS PRESENTATION CLEANSPACE HOLDINGS LIMITED (ASX: CSX) CleanSpace designs and manufactures innovative respiratory protection solutions for industrial & healthcare workers globally We understand the importance of best-in-class personal protective equipment that not only performs,
Slide 2: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER ACCEPTANCE differ from the figures set out in this presentation. This presentation has been prepared by CleanSpace Holdings Limited (ACN 150 214 636) (CleanSpace). PAST PERFORMANCE By accepting, accessing or reviewing this presentation, you acknowledge and agree to the
Slide 3: FY24 - Strong Momentum Continues to Build in H2
FY24 - STRONG MOMENTUM CONTINUES TO BUILD IN H2 DELIVERING AGAINST OUR OBJECTIVES IN FY24 Substantial progress with Industrial-led growth strategy: Revenue $15.7M (growth +30% v PCP) Industrial Revenue growth +35% (to $15.1M from FY22: $8.0M) Right sizing cost base delivered $4M savings Fu
Slide 4: FY24 – Delivered on FY24 Objectives
FY24 – DELIVERED ON FY24 OBJECTIVES FY24 OBJECTIVES # FY24 DELIVERY • Potential for 30%+ revenue growth 30% revenue growth* • Gross Margin favourable v FY23 GM 72% (v 70% in PCP) • Build consumable revenue streams Consumable growth of 28% • Ongoing cost base optimisation $4M costs reduction
Slide 5: Trends Are Positive for Outlook
TRENDS ARE POSITIVE FOR OUTLOOK POSITIVE KEY METRICS Expenses H2FY24 -44% v H2FY22 Industrial revenue +88% (+$7M) v FY22 GM% increased from 70% -> 72% (v FY23) EBITDA loss reducing fast Positive EBITDA in Q4 Positive EBITDA goal in FY25 $M Prior year legacy impacts on profitability are n
Slide 6: FY24 Results
FY24 RESULTS Sector Revenue: Industrial 35% growth, highest ever sales INDUSTRIAL REVENUE FY22 $8.0M -> FY24 $15.1M GROWTH 96% of total revenue 35 % UP ON PCP 72% GROSS MARGIN Healthcare revenue (-15% v PCP) continues to reflect lower demand post pandemic (in US and Asia) 31 46% Regional Rev
Slide 7: Operational Update – Commercial Progress
OPERATIONAL UPDATE – COMMERCIAL PROGRESS New models CST Ultra and CST Pro led growth in priority markets. New industrial product launch ‘CS Work’ (Europe, Australia) expands portfolio and broadens market appeal. EUROPE revenue: $10.1m (+43% v PCP) Accelerating growth in UK (+94% growth), DACH
Slide 8: Operational Update – R&D, Costs, Cash
OPERATIONAL UPDATE – R&D, COSTS, CASH KEY INITIATIVES Focus on 6 priority markets to maximise resource & investment productivity Continual R&D and technology innovation with further product launches planned in FY25 R&D tax refund of $0.9m expected in FY25 Back office costs reduced, manufactu
Slide 9: Strengthening Leadership and Transition
STRENGTHENING LEADERSHIP and TRANSITION LEADERSHIP Paul Cassano appointed as Non-Executive Director September 2023 Bree Greeff promoted to Permanent CFO from March 2024 Greg Sesny appointed as RVP North America in August 2024 Intention of CEO Graham McLean to resume a Non-Executive Director
Slide 10: Strategy Focus – Accelerate Sales Growth Whilst Containing Cost
STRATEGY FOCUS – ACCELERATE SALES GROWTH WHILST CONTAINING COST STRATEGY RECAP As the post pandemic environment became clearer, we have reset our strategy. We will drive sustainable growth with strong foundations and a fitter, leaner organisation by: 1. Focusing on industrial and mining sectors 2. F
Slide 11: FY25 – Objectives
FY25 – OBJECTIVES FY25 OBJECTIVES • 30%+ Revenue growth • EBITDA/Cashflow break-even or better • Strong growth in all Priority Markets • Build consumable revenue streams over the long term • Self-fund investments to drive growth • P&L Leverage via tight cost control • Appoint new CEO to continue the
Slide 12: Summary
SUMMARY STRATEGY TO DELIVER @ 30% REVENUE GROWTH SUSTAINABLE MODEL with P&L LEVERAGE Our Growth Drivers: Innovative new, premium products & launches Focus on Industrial sectors 6 Priority markets Challenger Brand Costs and Cash management: Careful management of cash whilst investing for gr
Slide 13: Appendix
Appendix CLEANSPACETECHNOLOGY.COM 8/27/2024 13 CleanSpace Holdings Limited | FY24 Results Presentation | August 2024
Slide 14: Regional and Sector Sales Analysis
REGIONAL and SECTOR SALES ANALYSIS Revenue H1 FY23 H2 FY23 H1 FY24 H2 FY24 FY24 v PCP FY24 H2 v Industrial AUD PCP FY24 v PCP Europe $2.9m $4.2m $4.8m $5.3m +43% +26% +43% Asia Pacific $1.3m $1.4m $1.6m $1.9m +30% +36% +40% North $1.6m $0.7m $0.9m $1.2m -9%* +60% +2% America Total $5.7m $6.4m $7.3m
Slide 15: FY24 Income Statement Summary
FY24 INCOME STATEMENT SUMMARY Change (A$m) vs PCP F / U H1 FY24 H2 FY24 FY24 % Revenue 7.3 8.4 15.7 30 F Revenue increase 30% v PCP and 16% v H1 Gross Profit 5.2 6.2 11.4 35 F Increased high gross margin (72%) +2% v PCP Employment costs (4.7) (4.4) (9.1) 26 F Operating expenses down 21% on PCP
Slide 16: FY24 Summary Balance Sheet & Cash Flows
FY24 SUMMARY BALANCE SHEET & CASH FLOWS as at as at Summary Balance Sheet (A$m) Summary Cash Flows (A$m) H1 FY24 H2 FY24 FY24 FY23 30 Jun-24 30 Jun-23 Cash, cash equivalents and term deposits 9.8 12.2 Operating cash flows pre-financing (2.1) (0.3) (2.4) (7.6) and tax Trade and other receivables 3.6
Slide 17: www.cleanspacetechnology.com
WWW.CLEANSPACETECHNOLOGY.COM 8/27/2024 17 17 CleanSpace Holdings Limited | FY24 Results Presentation | August 2024