Slide 1: FY14 Results Presentation
Service Stream Limited FY14 Results Presentation For personal use only 13 August 2014
Slide 2: Highlights (1 of 2)
Highlights (1 of 2) For personal use only Return to profitability with EBITDA of $16.6 million in line with revised guidance Business generates Operating Cashflow before Interest & Tax of $50.7 million Successful capital raise nets $18.9 million proceeds Repayment of core debt by $43.0 milli
Slide 3: Highlights (2 of 2)
Highlights (2 of 2) For personal use only Safety performance improves with LTIFR of 2.93 Payments to Syntheo JV of $20.4 million to finalise liability ahead of schedule Refinancing of banking facilities out to September 2016 nearing finalisation on improved terms Fixed Communication restores
Slide 4: Successful capital raise
Successful capital raise to reduce debt and complete refinance on more favourable terms For personal use only Placement to Thorney International, Thorney Opportunities and other sophisticated investors of 42.5 million shares at $0.22 to raise $9.4 million Rights Issue of 59.4 million shares at $
Slide 5: Key financial measures
Key financial measures Return to profitability with a focus on cash flow & capital management For personal use only $ million FY14 FY13 Change Revenue $389.6 $526.6 ($137.0) EBITDA $16.6 ($13.4) $30.0 EBITDA % 4.3% (2.5%) n/a Net profit after tax (before goodwill impairment) $2.3 ($17.3) $19.6 Net p
Slide 6: Key financial trends
Key financial trends For personal use only Revenue ($m) Net Debt ($m) 700 Revenue of $389.6m, down 70 Net debt reduced to 600 from prior period primarily 60 $10.4m, a reduction of due to cessation of $41.6m over the year. 500 50 contracts not yet offset by 400 NBN related ramp up. 40 300 30 200 20 1
Slide 7: Segment results
Segment results For personal use only EBITDA EBITDA $ million FY14 FY13 Change % % Fixed Communications $98.4 $136.0 ($37.6) Mobile Communications $166.9 $215.8 ($48.9) Energy & Water $124.2 $174.2 ($49.9) Inter-company revenue ($0.8) ($0.8) ($0.0) Interest received and other $0.9 $1.4 ($0.5) Total
Slide 8: Cashflow results
Cashflow results Net debt reduced from $52.0m to $10.4m over the year For personal use only $ million FY14 FY13 Change EBITDA $16.6 ($13.4) $30.0 +/- change in working capital $34.1 $19.0 $15.1 OCFBIT (from Service Stream operations) $50.7 $5.6 $45.1 Payments (to) / from Syntheo Joint Venture ($20.4
Slide 9: BU Overview: Fixed Communications
BU Overview: Fixed Communications Recovery in line with expectations For personal use only More effective operating structure implemented Focus on fixed-cost reduction to reduce exposure to volume variability Continue to work closely with NBN & Telstra to meet emerging network demand NBN New
Slide 10: BU Overview: Mobile Communications
BU Overview: Mobile Communications Meeting customer infrastructure plans For personal use only Focus on fixed-cost reduction to reduce exposure to volume variability New management team also focussed on: increasing market-share and providing expanded service offering to telecommunications cust
Slide 11: BU Overview: Energy & Water
BU Overview: Energy & Water Successfully secured contract renewals and extensions For personal use only Secured renewals and extensions of core metering contracts during the year, and continues to be a metering service provider of choice across key regions and clients: Western Power: Three-year
Slide 12: Focused strategy going forward
Focused strategy going forward to underpin sustainable profitability and to grow shareholder value For personal use only Unlocking value from existing core businesses … Strengthening customer relationships, retaining key contracts, mitigating contract risk, maximizing volume through delivery excel
Slide 13: Positive outlook
Positive outlook with each segment positioned well to take advantage of opportunities For personal use only Fixed Communications Australian government’s investment in the NBN will present new opportunities on the back of its mixed technology strategy as well as in areas of proven competence such a