Slide 1: FY2009 Results Presentation
For personal use only FY2009 Results Presentation 1
Slide 2: Agenda
FY2009 Results Presentation agenda For personal use only 1. FY09 Results highlights 2 2. Group overview 3. Operational overview 4. Financial summary 5. Outlook
Slide 3: Revenue up 24% supporting a sustainable business
Revenue up 24% supporting a sustainable business For personal use only Year end to 30 June 2009 $558.2M Revenue up from $450.6M • Strong growth from A&AS ramp up • Solutions increased performance 3 • Long term contracted revenues increase $30.1M EBITDA down from $37.2M • Trend growth to resume • The
Slide 4: Key Contracts Performing Well
Key Contracts Performing Well issues addressed and well positioned for growth For personal use only • Telstra A&AS bedded down 4 Specialist Field • TCI expanding tower services to Telstra Services • AMRS Smart Meter roll-out commenced • Division wide capacity now in place • Streamlined project manag
Slide 5: Working Together
For personal use only Working Together Maintaining Australia’s vital infrastructure 5 Together, our people help to build, maintain and manage vital Australian infrastructure, needed for telecommunications, electricity, solar energy and water.
Slide 6: Key Resources in Place
Key Resources in Place driving further synergies For personal use only • Service Stream Limited (SSM) is increasingly integrated across its businesses • 5,000+ workforce and 60 branches nationally providing – Outsourced field force management 6 – Technical support – Asset management services – Custo
Slide 7: Focusing on Core
Focusing on Core strong governance in place For personal use only Solutions - Contact Centre $78M Vodafone Contact Centre Optus Specialist Field Services - TOW DNCR AAS Contract Payphones Contract $284M 7 Field Services - TOW Specialist Field Services - Infrastructure Labour Services $196M TCI GPG S
Slide 8: Streamlined Structure
Streamlined Structure building synergies across the business For personal use only CONTACT CENTRE SOLUTIONS SPECIALIST FIELD SERVICES 8 Key Statistics CONTACT CENTRE INFRASTRUCTURE TICKET OF WORKS TCI AMRS SOLUTIONS SERVICES Revenue split $57.9M $284.0M $88.1M $49.9M for SFS Business Provides call c
Slide 9: Contracts Re-Won
Contracts Re-Won drives growth For personal use only Quality customers 9 Long term profitable contracts • Telstra AAS • Vodafone wireless build • Telstra wireless build • SA Water metering • APA gas metering • Jemena smart metering
Slide 10: Major Opportunities
Major Opportunities Service Stream advantages and positioning For personal use only SSM is well positioned to capitalise on major public and private sector infrastructure projects Project Size (est.) Service Stream competitive advantages 10 National $43 Billion Broadband Network • One of 3 service p
Slide 11: Planning for the Future
Planning for the Future managing risks and maximising opportunities For personal use only z New management team with integrated focus 11 z Updated and new risk management procedures and policies adopted by the Board z $5M of costs removed from the business z Coordinated project capacity z Improved c
Slide 12: Result
Result strong revenue growth For personal use only FY2009 FY2008 % change 12 Revenue $558.2M $450.6M 23.9% EBITDA $30.1M $37.2M (19.1%) EBIT $22.7M $30.6M (25.8%) NPAT $11.1M $18.1M (38.7%) Earnings per Share (basic) 6.20cps 10.98cps (43.6%) Total Dividends 3.5cps 7.5cps Source: Company data
Slide 13: Balance Sheet
Balance Sheet a solid platform for growth For personal use only $ Million 30 June 2009 30 June 2008 Receivables and WIP 137.8 136.5 Plant and equipment – WDV 17.6 20.2 13 Inventory 13.5 11.4 Other 5.2 5.8 Goodwill 205.4 206.4 Total assets 379.5 380.3 Payables 64.2 78.3 Net debt (including cash $9M)
Slide 14: Capital Structure
Capital Structure banking facilities in place For personal use only $ Million 30 June 2009* 30 June 2008 30 June 2007 14 Net debt 102.6 93.5 30.2 Equity 203.1 197.4 139.3 Gearing ratio* 33.6% 32.1% 17.8% Interest cover 3.1 5.9 8.8 * Net debt / Net debt + equity Debt • Core funding secured to Novembe
Slide 15: Operating Cash Flow
Operating Cash Flow progress in a difficult year For personal use only $ Million FY 2009 FY 2008 FY 2007 Net profit after tax 11.1 18.1 11.2 Depreciation and amortisation 7.4 6.7 2.7 15 Working capital movement (10.3) (57.9) (7.4) Gain on sale of investments - - (1.3) Operating cash flow 8.2 (33.1)
Slide 16: Quality and People
Quality and People drive a quality outcome For personal use only • Strategic investment achieves successful re-certification of Safety 4801, Quality 9001 and Environmental 14001 Management Systems 16 • 300+ managers and supervisors trained on safety / environmental duty of care and risk assessment •
Slide 17: Outlook in FY2010
Outlook in FY2010 maximise the opportunities For personal use only Management remains confident in growth prospects of all divisions 17 • Ongoing focus on delivery of major contracts • Strong organic growth to resume • Continue to integrate strategic acquisitions • Drive organic growth in utilities
Slide 18: Important Notice - Disclaimer
FY2009 Results Presentation For personal use only 18 Important Notice - Disclaimer This presentation has been prepared by the management of Service Stream Limited (the ‘Company’) for the benefit of brokers, analysts and investors and not as specific advice to any particular party or person. Neither
Slide 19: For personal use only
For personal use only Michel Doery 19 Managing Director Service Stream Limited Phone: +61 3 9677 8841 Email: michael.doery@servicestream.com.au Ken Latchford Chief Financial Officer Service Stream Limited Phone: +61 3 9677 8848 Email: ken.latchford@servicestream.com.au