Veris Limited · ASX:VRS
Veris — H1 FY2024 Earnings Presentation
19 slides from Veris's earnings presentation, Feb 26, 2024
Slide 1: 1H FY24 Results
1H FY24 Results Presented by: Michael Shirley, Managing Director & CEO Steve Harding, CFO 26 February 2024 1
Slide 2: Acknowledgement of Country
As we are located across 15 offices and perform our services at many locations, we acknowledge Aboriginal and Torres Strait Islander peoples as the traditional owners and custodians of this land and the places on which we live and work. We respect and honour Aboriginal and Torres Strait Islander Eld
Slide 3: Veris – a trusted, leading provider of spatial data services
Veris – a trusted, leading provider of spatial data services Company Profile Our Services 3D scanning, data capture, hosting storage, 500+ 15 Offices DIGITAL & SPATIAL management, modelling, visualisation, and analysis. People across ENGINEERING Civil construction and engineering survey Australia SU
Slide 4: 1H FY24 Overview
1H FY24 Overview Delivering on strategic priorities Proactive strategy Demonstrated, Prudent capital Consolidating and management clear progress management performance and amidst economic against Digital providing stability profit whilst uncertainty Strategy and flexibility driving efficiencies Cont
Slide 5: 1H FY24 Overview
1H FY24 Overview Consolidating the base – Stable, higher quality revenue delivering higher margins 110 35.0% 1.5 2.0% 100 34.0% Gross profit 1.0 PBT $ and margin expansion margin % growth Gross Profit Margin % 90 1.0% 33.0% 0.5 80 driven by more Revenue ($m) PBT Margin % 70 32.0% - 0.0% selective ch
Slide 6: Delivering on Strategic Priorities
Delivering on Strategic Priorities Sustainable, profitable growth through strategy execution Delivering a sustainable Executing our strategy for profitable growth business model Driving Investing Secured Key Spatial Assessing Operational in our Workload Account Data M&A Excellence People & Pipeline
Slide 7: Digital strategy execution
Digital strategy execution Meeting the Digital Transformation needs of our clients Executing the strategy Outcomes We’ve taken clear steps in the delivery of our Digital We’ve achieved significant milestones along the way: Strategy: ✓ First suite of digital solutions commercialised and ▪ Development
Slide 8: The Veris difference
The Veris difference Collecting, holding, understanding data Competitors have siloed delivery models Veris has a differentiated market position Data Platforms: companies that provide End-to-end solution: our offering spans data cloud-based spatial data / digital twins collection through to Digital s
Slide 9: Recent Project Wins
Recent Project Wins Recent project wins showcase our digital pivot in action on some of Australia’s most important infrastructure projects. Rail Revitalisation Major Airport Canberra Light Project, WA Upgrades, Qld Rail Stage 2B Veris has secured a contract with John Holland Veris has been engaged t
Slide 10: Recent Project Wins
Recent Project Wins Recent project wins showcase our digital pivot in action on some of Australia’s most important infrastructure projects. Other notable wins Warragamba Highway Central Place Pipeline, Upgrade Sydney, NSW NSW Program, QLD Veris was engaged to perform 3D laser scanning With the recen
Slide 11: 1H FY24 Financial Update
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Slide 12: 1H FY24 Results Summary
1H FY24 Results Summary Veris Australia % H1 H1 H1 Revenue & PBT Margin Underlying results $M Change FY24 FY23 FY22 vs PCP Revenue 48.3 52.5 42.6 (7.9%) Gross Profit Margin % 33.9% 31.6% 28.8% EBITDA 5.0 5.4 3.1 (8.2%) EBITDA Margin % 10.3% 10.3% 7.2% Underlying PBT 0.8 0.8 (2.0) (3%) Underlying PBT
Slide 13: Balance Sheet
Balance Sheet Balance Sheet Dec 23 Jun 23 Overview Cash 16.7 17.3 Debtors & WIP 19.6 19.7 ▪ Stable balance sheet and capital position P,P&E 9.3 9.8 ▪ Cash movement primarily reflects impact of: AASB16 Leases – ROUA 14.8 16.4 DTA, Intangibles, Other 5.9 6.3 ▪ $0.7m dividend payment in November Total
Slide 14: Pipeline & Outlook
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Slide 15: Pipeline
Pipeline Pipeline Despite some economic uncertainty, Veris has a strong pipeline and Secured forward In addition to forward outlook workload is in excess of workload, we $60m to be executed anticipate ongoing underpinned by project variation and over the next 12 national footprint months. direct ass
Slide 16: Outlook
Outlook Continued improvement in margin and strategy execution Transformational opportunities, including the continued assessment of M&A opportunities, enabled by strong net cash position Positioned to capitalise on the commercialisation of a range of digital and spatial solutions Strong, secured fo
Slide 17: Corporate Snapshot
Corporate Snapshot A strongly positioned, well capitalised, pure-play spatial data services business. VRS Price/Volume Chart Corporate Snapshot $0.12 30 Millions ASX Code VRS $0.10 25 $0.08 20 Share Price (22 Feb 2024) $0.07 $0.06 15 Shares on Issue 514.5m $0.04 10 Market Capitalisation (21 Feb 2024
Slide 18: Disclaimer
Disclaimer This Document should not be considered as an offer or invitation to provision of this Document or any other information provided in relation to subscribe for or purchase any securities in Veris Limited (“Veris” or the this Document. Recipients of this Document must make their own “Company
Slide 19: Contact us
Contact us Investor and Media Relations enquiries: Steve Harding Phone: (08) 62431 333 Email: communications@veris.com.au Ben Larsen Phone: +61 (0) 439 789 842 Email: benl@nwrcommunications.com.au 19