Slide 1: 2023 AGM – Investor Presentation
25 October 2023 Company Announcements Office Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam 2023 AGM – Investor Presentation Please find attached a copy of Codan Limited’s investor presentation dated 25 October 2023 for release to the market. Yours faithfully
Slide 2: 2023 AGM Results
2023 AGM RULTS Codan Limited 25th October 2023
Slide 3: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER ‐ 2
Slide 4: Contents
CONTENTS LEADERSHIP TEAM STRATEGY OVERVIEW • Eagle acquisition • ESG initiatives FY23 RESULTS RECAP • Communications • Minelab NEAR TERM STRATEGY OUTLOOK 3
Slide 5: Leadership Team
LEADERSHIP TEAM Alf Ianniello Michael Barton Marjolijn Woods Peter Charlesworth Managing Director Chief Financial Officer Chief Human Chief Technology Officer and CEO and Company Secretary Resources Officer Ben Harvey Paul Sangster Scott French Daniel Hutchinson Executive General Executive General M
Slide 6: Strategy Overview
STRATEGY OVERVIEW Codan’s renewed growth strategy focused on three core pillars that drive long-term value GETTING QUALITY OF ACQUISITIONS THAT EVERYTHING RIGHT TOPLINE CREATE VALUE • Continued focus across people, • Global opportunity - Ongoing • Seek strategically-aligned STRATEGY process and syst
Slide 7: Acquisition of Eagle – August 2023
ACQUISITION OF EAGLE – AUGUST 2023 Strong strategic fit, acquiring technology and capability to accelerate growth 13 STRONG YEAR AVG STRATEGIC GEOGRAPHIC customer FIT EXPANSION relationship length PROVEN IN… UK POLICE RAIL NEW MARKET BASED AMBULANCE SYNERGIES FIRE AIR BUS NEC / CARVE-OUT PRESENCE IN
Slide 8: ESG Initiatives
ESG INITIATIVES ENVIRONMENT SOCIAL GOVERNANCE University scholarship TCFD alignment, support: Women in STEM, Female directors exceeds ESG Reporting Founders PhD ASX benchmark Stakeholder engagement Investment and Core values and ethical around climate related development in our people business pract
Slide 9: FY23 Highlights
FY23 HIGHLIGHTS • Strong results amidst unprecedented challenges and uncertain geopolitical and macroeconomic factors Revenue EBITDA • Group revenue of $456.5 million, delivering statutory net profit after tax of $67.7 million and underlying net $456.5m $116.8m profit after tax of $65.5 million -10%
Slide 10: Communications
COMMUNICATIONS • FY23 Communications revenue of $274.5 million (FY22: $241.7 million), +14% versus pcp (vs 10-15% targeted range) • Both Tactical Communications and Zetron achieved double-digit growth: • Tactical driven by unmanned systems, broadcast and law enforcement, as well as single large mili
Slide 11: Metal Detection
METAL DETECTION • FY23 Minelab revenue of $176.1 million (FY22: $262.3 million), decline due to post-Covid reduction and continued disruption of Northeast African market • All key markets – Rest of World (RoW)¹ recreation, African market and Countermine – delivered stronger H2 • H2 Minelab revenues
Slide 12: Near Term Strategy
NEAR TERM STRATEGY Successful execution will see a more-balanced, integrated and sustainable Codan Enhanced offering as full Expansion and growth of systems Promote new products & expand solutions provider and support contracts channels to market • Increasing awareness and capabilities of DTC • Incr
Slide 13: Group Outlook
GROUP OUTLOOK There are a number of key considerations regarding the Company’s outlook for the first half of FY24: • Communications revenue growth (excl. Eagle) targeting 10- 15% range, after normalising for the large Communications project delivered in FY23 (approx. $20 million), noting: • Continue
Slide 14: Building a Stronger Codan
BUILDING A STRONGER CODAN GLOBAL OPPORTUNITY DIVERSIFIED EARNINGS Large, globally addressable market, notably A more-balanced, stable and within developed market economies predictable revenue base PROFITABLE GROWTH INNOVATIVE PRODUCT DEVELOPMENT Targeting sustainable revenue and profitability growth