Bsa Limited · ASX:BSA
Bsa — Investor Presentation (February 2019)
18 slides from Bsa's investor presentation, Feb 26, 2019
Slide 1: FY19 Half Year Results Review
FY19 HALF YEAR RESULTS REVIEW
Slide 2: Agenda
Agenda 1. Half year highlights 2. Group financials 3. Operational performance 4. Strategy update 5. Outlook BSA Limited Investor Presentation – H1 FY19 2
Slide 3: Half Year Highlights - Financial
Half Year Highlights - Financial Strong underlying earnings growth leading to record underlying first half result Revenue broadly in line with H1 FY18 ($292.4m) with revenue growth in Maintain and Fire offsetting reduced revenue $285m due to the completion of the nbn construction program of works
Slide 4: Half Year Highlights - Operational
Half Year Highlights - Operational Strategic priorities on track with solid growth in core areas New contracts Awarded National YMCA Multi Services agreement. wins Awarded numerous ‘bolt-on’ contracts across the Connect & Maintain existing portfolio. Exits from Western Australia and Queensland
Slide 5: Group Financials
GROUP FINANCIALS
Slide 6: Group Financials
Group Financials H1 FY19 underlying NPAT $5.6m, +32% vs prior period. Increased significant items largely reflects closure of HVAC Build WA & QLD operations in line with strategy • Reported EBITDA of $7.6m impacted Summary ($000’s) H1 FY19 H1 FY18 Change % by $4.2m of significant one off items inclu
Slide 7: Group Financials
Group Financials Positive $6.5m in net cash at 31 December 2018. Marginal decrease from prior period relates largely to HVAC Build closure costs, dividend payment and capex investment • Half year cash flow impacted by Summary ($000’s) H1 FY19 H1 FY18 material cash and debt movements relating to Net
Slide 8: Operational Performance
OPERATIONAL PERFORMANCE
Slide 9: Health & Safety Performance
Health & Safety Performance BSA Group - Total Recordable Injury Frequency Rate (TRIFR) 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Group TRIFR-Actual Group TRIFR-Target Linear (Group TRIFR-Actual) H1FY19 perfor
Slide 10: Business Performance - Connect
Business Performance - Connect Strong margins continue on reduced revenue due to completion of nbn construction (MIMA) program of works Summary ($000) H1 FY19 H1 FY18 Change % Revenue 117,663 137,662 (14.5)% EBITDA 8,638 11,071 (22.0)% • The nbn MIMA construction program was EBITDA % 7.3% 8.0% (0.7)
Slide 11: Business Performance - Maintain
Business Performance - Maintain Strong growth across all key financial metrics Summary ($000) H1 FY19 H1 FY18 Change % Revenue 49,740 44,966 +10.6% EBITDA 1,838 945 +94.5% EBITDA % 3.7% 2.1% +1.6 ppt • Enhanced Service Delivery and Account Management structures established, including a dedicated Nat
Slide 12: Business Performance – HVAC | Build
Business Performance – HVAC | Build Risk mitigation frameworks driving reduced downside exposure - exits from WA and QLD markets principally complete Summary ($000) H1 FY19 H1 FY18 Change % Revenue 86,499 84,020 +3.0% EBITDA (1,684) (4,128) +59.2% EBITDA % (1.9)% (4.9)% +3.0 ppt • Continuing NSW and
Slide 13: Business Performance – Fire | Build
Business Performance – Fire | Build Strong Revenue (+21%) & Order Book (+29%) growth, with EBITDA margin % reductions reflecting capability investments to maximise future growth Summary ($000) H1 FY19 H1 FY18 Change % Revenue 31,098 25,696 +21.0% EBITDA 2,296 2,708 (15.2)% EBITDA % 7.4% 10.5% (3.1)
Slide 14: Strategy & Outlook
STRATEGY & OUTLOOK
Slide 15: Strategy Update
Strategy Update To be our clients indispensable partner to design, deliver and manage Vision innovative asset solutions Continue history of strong organic growth combined with enhanced strategic M&A focus Grow Diversify Optimise Innovate Strategy Accelerate multi-service Integrated energy Evolve tec
Slide 16: Strategy – Increasing Margins & Reducing Risk
Strategy – Increasing Margins & Reducing Risk With new workforce software focus Grow end-to-end on “in-home” services across energy solutions off Connect & Maintain as a new the back of metering, product offering solar & BMS offerings Increased growth & margin Focus on large scale 5G and small cell
Slide 17: Outlook
Outlook Favorable Market Conditions (external factors) • Strong pipeline - growth opportunities in all core markets. • Identified potential in new strategic target markets. • Continued client appetite for innovation in delivery – BSA perfectly positioned. Strong Business Fundamentals (internal facto
Slide 18: Important Notice
IMPORTANT NOTICE Important Notice This presentation has been prepared by BSA Limited (the “Company”) and provides general background information about the Company’s activities. That information is current at the date of this presentation. The information is a summary and does not purport to be compl