Slide 1: HY2008 Results Presentation
Capability + Ambition + Growth For personal use only HY2008 Results Presentation February 2008
Slide 2: Agenda
Capability + Ambition + Growth Agenda For personal use only • 2008 Half Year Highlights • Financial Summary • Group Overview • AMRS Overview • Strategy • Outlook 2
Slide 3: 2008 Half Year Highlights
Capability + Ambition + Growth 2008 Half Year Highlights For personal use only y Record earnings performance y Revenue up 107.3% to $199.1M y EBITDA up 119.4% to $13.6M y NPAT up 97.6% to $6.6M y Successful $40M Capital Raising y Strengthened presence in Utilities sector y Fully franked interim divi
Slide 4: Half Year in Review
Capability + Ambition + Growth Half Year in Review For personal use only September 2007 Awarded $1bn Telstra AAS contract September 2007 Completes $40M Capital Raising September 2007 Acquired Alinta sub metering assets October 2007 Acquired McCourt Dando Group November 2007 Telstra extends TCI contr
Slide 5: Financial Summary – record earnings performance
Capability + Ambition + Growth Financial Summary – record earnings performance For personal use only EBITDA by half year 40 HY2008 HY2007 % change 35 30 Revenue $199.1M $96.1M +107.3% $ 2 3 .4 M 25 2HY EBITDA $13.6M $6.2M +119.4% 1HY 20 EBIT $10.8M $5.2M +106.6% 15 $ 15 .6 M NPAT $6.6M $3.3M +97.6%
Slide 6: Key Results Driver
Capability + Ambition + Growth Key Results Driver For personal use only y Continuing outsourcing of activities by telcos and utility providers y Strong operational performance by all divisions y TOW volumes have exceeded expectations with commencement of Telstra payphones and AAS contracts y Success
Slide 7: TOW Volumes
Capability + Ambition + Growth TOW Volumes For personal use only J une 2 0 0 7 T e ls t ra P a ypho ne s C o nt ra c t 10000 J a nua ry 2 0 0 7 9,000 M e rge d wit h 9000 TCI 8000 A ugus t 2 0 0 6 7,500 A c quire d F ibe rc o m 7000 6,800 J a nua ry 2 0 0 6 A c quire d 6000 M ilc o m 5,264 F e brua
Slide 8: Financial Summary
Capability + Ambition + Growth Financial Summary For personal use only HY 2008 HY2007 EBITDA $13.6M $6.2M Depreciation $2.8M $1.0M Net Interest Expense $1.3M $0.5M Income Tax Expense $2.9M $1.4M NPAT $6.6M $3.3M y Depreciation increase of $1.8M due to: y Business acquisitions - $1.0M y Contract spec
Slide 9: Balance Sheet
Capability + Ambition + Growth Balance Sheet For personal use only 31 Dec 30 June $ million 2007 2007 Receivables & WIP 95.5 80.3 Fixed Assets 19.3 5.2 Other 11.9 7.7 Goodwill 203.8 155.7 Total Assets 330.5 248.9 Payables 108.8 70.0 Net Debt 23.1 30.2 Provisions & Other 10.9 9.4 Total Liabilities 14
Slide 10: Movement in Net Debt
Capability + Ambition + Growth Movement in Net Debt For personal use only $M $M Net Debt 30 June 2007 (30.2) EBITDA 13.6 Increase in Working Capital (11.0) Interest (1.7) Income tax paid (7.2) Operating cash flow (6.3) Acquisitions (9.0) Capital expenditure (7.8) Share Issues 43.4 Cash Dividends (4.
Slide 11: Group Overview
Capability + Ambition + Growth Group Overview • Yarrawonga NT •Geebung QLD • 42 Locations For personal use only •Burleigh Heads •Teneriffe • Combined workforce approaching 4,000 •Brendale •Currembin Waters • Market leader position in telecommunications •Brisbane •Windsor industry managed services •M
Slide 12: Operational Overview
Capability + Ambition + Growth Operational Overview For personal use only TOW (Ticket of Work) Contact Centre Solutions Infrastructure Services (Telco) Infrastructure Services (Other) • AAS • STR Solutions • TCI / Radhaz • Recoverable works • Telephony • Commissioning • Broadband • Installation, • D
Slide 13: AMRS – Company Profile
Capability + Ambition + Growth AMRS – Company Profile For personal use only y National Company Established 1992 y Over 25 years industry experience y Largest Provider of Metering Services in Australia y Approximately 800 employees y ISO 9001:2000 Accreditation y AS/NZS 4801:2001 OH&S Accreditation y
Slide 14: AMRS - Key Contracts / Alliances
Capability + Ambition + Growth AMRS - Key Contracts / Alliances For personal use only 14
Slide 15: AMRS - New & Emerging Markets
Capability + Ambition + Growth AMRS - New & Emerging Markets For personal use only • AMIRO – Smart Meter Rollout • Victoria 2009 - 2012, followed by all other states • Estimated Value $1Billion (field services) • Environmental Services • Installation of energy efficient appliances • Energy Audit/Man
Slide 16: Outlook
Capability + Ambition + Growth Outlook For personal use only • On-going focus on delivery of major contracts • Strong organic growth to continue • Continue to execute strategic acquisitions • Drive organic growth in utilities sector • Sensible capital management strategy providing for organic and ac
Slide 17: Important Notice - Disclaimer
Capability + Ambition + Growth Important Notice - Disclaimer For personal use only 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