Slide 1: Veris Limited FY19 Results Presentation
Veris Limited FY19 Results Presentation 30 August 2019 Slide 1
Slide 2: Veris Limited service offering
Veris Limited Surveying Strategy and policy Specialised ICT and technology 3D spatial Communications and engagement services Geospatial Urban and regional planning - Industrial Wireless Town planning and Urban design Social sustainability - Industrial IoT Bid preparation - Content Access Solutions D
Slide 3: Overview
Overview Veris made significant progress in strengthening the Company’s operational capability following the national integration of nine acquired surveying businesses in 2018. An Operational Review, now completed, focused on harnessing the strength of Veris Australia aimed at improving efficiencies
Slide 4: FY19 financial results
FY19 financial results Slide 4
Slide 5: FY19 Financial Dashboard
FY19 Financial Dashboard FY19 FY18 Revenue $125.9m $106.8m 3D spatial scan to BIM Underlying EBITDA $6.5m $11.2m Operating Cash Flow $6.2m ($0.1m) Aqura Technologies LTE team site visit in Pilbara Net Debt $18.0m $20.4m • Revenue growth through full year contribution of Elton Consulting • Earnings i
Slide 6: FY19 Revenue
FY19 Revenue Revenue growth across all businesses in 140,000 Elton Net Revenue Veris Net Revenue Aqura Net Revenue FY19 $000s $000s $000s ‒ Veris Australia 120,000 ‒ $93.0m, up 4% on FY18 100,000 ‒ Delivery of major infrastructure projects 80,000 ‒ Elton Consulting $000s ‒ $18.3m, up 2.5% on FY18 60
Slide 7: Revenue by location in FY19
Revenue by location in FY19 Veris Australia $93.0m Elton Consulting $18.3m Aqura Technologies $14.3m Total Rev Australia $125.6* $14.4m $0.9m $2.4m $15.4m $11.2m $16.4m $0.2m $36.8m $26.4m $0.4m *NZ $0.3m $0.3m $0.8m Slide 7
Slide 8: 1H & 2HFY19 EBITDA
1H & 2HFY19 EBITDA 1H FY19 2H FY19 Veris Australia $2.5m $3.3m 3D Scanning of Luna Park Melbourne Elton Consulting $1.4m $0.9m Aqura Technologies $1.1m $0.8m Corporate ($1.8m) ($1.7m) Integrated autonomous LTE network with satellite communications dish TOTAL $3.2m $3.3m • Veris Australia achieved im
Slide 9: Cash Flow and Balance Sheet
Cash Flow and Balance Sheet Cash Flow Balance Sheet $m FY19 FY18 $m 30 June 2019 30 June 2018 Cash flow from operations 7.5 1.0 Cash 3.7 5.6 Net interest expense (1.3) (1.1) Hire Purchase Facilities (10.3) (12.4) Cash flow from operations 6.2 (0.1) Commonwealth Bank Facility (11.4) (13.6) Cash flow
Slide 10: Cash flow waterfall
Cash flow waterfall 15 1.1 (1.3) 1.8 (1.9) 10 (1.9) 6.5 $m (6.2) 5 5.6 3.7 0 Opening EBITDA Equipment Other Interest Capex Acquisition Debt/HP Closing Cash Sales net (net HP) payments repayments cash Slide 10
Slide 11: Market outlook & Strategy
Market outlook & Strategy Slide 11
Slide 12: Market Outlook
Market Outlook Strong forecast activity and development expenditure on infrastructure projects on the eastern seaboard, with a range of transport, healthcare, education and social infrastructure ‒ Committed forward pipeline for infrastructure investment of over $200b ‒ Government expenditure more ce
Slide 13: Top Tier Clients across Australia
Top Tier Clients across Australia Diversified, national client base; adding value through seamless national agreements and service offerings Slide 13
Slide 14: Veris Strategic Plan 2019 - 2024
Veris Strategic Plan 2019 - 2024 • Repositioning the service model to focus on high value, high margin surveying, digital engineering, data management, geospatial and professional and advisory services. • Strategy endorsed by the Board in June 2019. To be a recognised national business - with three
Slide 15: Strengthening Veris Australia performance
Strengthening Veris Australia performance Actions Achievements Operational Alignment ‒ Improved professional staff and equipment utilisation ‒ Co-location of staff and offices to ensure efficiencies Overhead Synergies ‒ Establishment of Veris shared services ‒ One ERP system ‒ Identification of annu
Slide 16: Summary and Outlook
Summary and Outlook Key achievements Outlook • Achieved revenue growth across all three business. • Positioned for margin growth in FY20. • Enhanced operational cash flow and reduced net debt position. • Full benefit of Operational Review in FY20, which will deliver a further $3m in EBITDA. • Implem
Slide 17: Appendix
Appendix Slide 17
Slide 18: Financial – FY19 Results
Financial – FY19 Results $m FY19 FY18 Revenue 125.9 106.8 EBITDA1 6.5 11.2 Depreciation (5.1) (3.6) Amortisation2 (3.9) (4.1) Acquisition related cost/income (0.1) (1.6) Restructuring costs (3.3) (1.8) Share-based payments (0.6) (1.0) Impairment3 (34.4) - EBIT (40.9) (0.9) Net interest expense (1.3)
Slide 19: Disclaimer
Disclaimer This Document should not be considered as an offer or invitation to subscribe for or purchase any securities in Veris Limited (“Veris” or the “Company”) or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in Veris s