Swoop Holdings Limited · ASX:SWP

Swoop — FY2022 Earnings Presentation

28 slides from Swoop's earnings presentation, Aug 29, 2022

  1. Slide 1: FY22 Financial and Operational Results Investor Briefing

    sw°op FY22 Financial and Operational Results Investor Briefing 29 AUGUST 2022

  2. Slide 2: FY22 Highlights

  3. Slide 3: Revenue of $51.7M up 130% year-on-year on a Statutory basis

    Revenue of $51.7M up 130% year-on-year on a Statutory basis1 and up 67% on FY21 Pro Forma Results2 Underlying EBITDA 3 of $13.0M, up 129% on FY21 Underlying EBITDA 2 First positive Underlying NPAT3 of $58k, up from Net Loss after Tax position of ($2.9M) in FY21 A 26% year-on-year increase in subscri

  4. Slide 4: Notes on year on year comparisons

    Notes: 1. Year on year comparisons shown above are to the FY21 Pro Forma Results. FY21 Pro Forma Results have been prepared using information from the audited FY21 Annual Report dated September 2021. FY21 Pro Forma Results add in the results of Node 1 as if included for the full period of FY21, prov

  5. Slide 5: FY22 Business Update

  6. Slide 6: Services in operation, towers and staff

    485 170 38,582 No. of fixed wireless Staff across Services in masts/towers Australia operation 6,380 6,278 25,924 Wholesale services Business services Residential services

  7. Slide 7: 38,582 Services in Operation, up 7,859 or 26%

    ▪ 38,582 Services in Operation (SIOs) in Jun-22, having increased by 7,859 services or 26% in the financial year ▪ All sectors grew in the year, Residential by 2,313, Business by 2,251 and Wholesale by 3,295

  8. Slide 8: FY22 Infrastructure Expansion

    FY22 Infrastructure Expansion =" More than half of our services are now on Swoop’s network =" Our Fixed Wireless tower footprint grew by 95 to 485 towers in FY22, representing an increase of 24% # Towers 485 24%, End FY20 On Net SIOs End FY21 On Net SIOs End FY22 On Net SIOs 390 On Net 30% On Net Of

  9. Slide 9: FY22 Financial Results

  10. Slide 10: Financial Results ($000)

    Financial Results ($000) FY211 FY22 Change Revenue 30,882 51,668 20,786 COGS (13,199) (23,352) (10,153) Gross Margin 17,683 28,316 10,633 ▪ Revenue increased by 67% over the prior corresponding period (pcp) Gross Margin % 57% 55% ▪ Revenue growth reflects organic Operating Expenses and Overheads (11

  11. Slide 11: Segment Revenue ($000)

    Segment Revenue ($000) FY211 FY22 Change ▪ Business revenue growth driven by organic growth of the NBN EE market, plus Countrytell Business 3,121 9,773 +213% acquisition Residential 14,890 19,551 +31% ▪ Wholesale revenue growth reflects solid organic growth plus VoiceHub acquisition Wholesale 12,871

  12. Slide 12: Summary Cash Flow ($000)

    Summary Cash Flow ($000) FY212 FY22 ▪ Free Cash Flow continues to improve, from ($2.9m) in Q1 FY22 to ($1.8m) in Q4 FY22 Customer Receipts 22,730 51,435 ▪ Majority of capex is network expansion and Payments to Suppliers and Employees (26,971) (43,123) supporting customer and network systems Other ne

  13. Slide 13: Summary Balance Sheet ($000)

    Summary Balance Sheet ($000) FY21 FY22 ▪ Strong cash position, with a debt facility Cash at Bank 17,498 32,021 finalised in June 22, provides substantial firepower for acquisitive and organic growth Other Current Assets 7,085 7,404 ▪ Growth in fixed assets reflects recent Trade and Other Payables (9

  14. Slide 14: Increase in EBITDA from acquisitions and organic growth

    ▪ Increase in EBITDA came from both partial contribution from acquisitions and organic growth and efficiencies in the combined business; 59% and 41% of Total FY22 EBITDA growth respectively.

  15. Slide 15: Acquisitions

    15 Acquisitions

  16. Slide 16: 7 accretive acquisitions completed, 8th announced

    7 accretive acquisitions 8th acquisition announced Significant pipeline in completed to date (Moose) to be completed in discussion across Fixed Q1 FY23 Wireless, Resell, Fibre, Voice Name Product Geography Segment Infrastructure Purchase Price EBITDA Date Completed FY23 EBITDA Announced Moose Resell

  17. Slide 17: Completed acquisitions detail

    Announced FY22 EBITDA Name Product Geography Segment Infrastructure Purchase Price Date Completed EBITDA Contribution Completed Community FW Perth Residential 14 Towers $0.3m $0.1m1 June 2021 $0.1m Communications $1.6m1 June 2021 Beam FW Regional SA Residential/SME 65 Towers $6.7m $1.6m Fixed Wirele

  18. Slide 18: Mobile SIO growth

    Notes: 1. Mobile SIO growth over the 12 months to 31 July 2022

  19. Slide 19: 19

    19

  20. Slide 20: Massive opportunity to increase market share in areas covered by Swoop infrastructure

    Massive opportunity to increase market share in areas already covered by Swoop infrastructure. 80% Coverage 80% Coverage 83% Legacy Technology 84% Legacy Technology Metro Perth Geelong/Metro Melbourne 930k Addressable Premises 1,952k Addressable Premises 54% Coverage 63% Coverage 79% Legacy 83% Lega

  21. Slide 21: Build on our strong brand, reduce churn, grow channel partners

    Build on our strong brand Continued focus on Grow number of Channel Partners reducing churn now 0.8% (13% growth in FY22) in July now 260 active partners (down 0.4% YoY)

  22. Slide 22: Continue to build platforms and turn stuff off in FY23

    Continue to build Achieved 94% of targeted Additional 25% annualised platforms and turn stuff off synergies from acquisitions synergies identified to be in FY23 in FY22 delivered in FY23

  23. Slide 23: 5G Fixed Wireless rollout and fibre expansion

    5G Fixed Wireless being rollout in Expanding fibre based on strategic locations VIC & WA providing customer demand in existing greater speeds regions

  24. Slide 24: Monthly revenue for July up 5% on Q4FY22 average

    ▪ Monthly Revenue (excluding one-off Projects) for July up 5% on Q4FY22 average (from $4.3m to $4.5m) ▪ Qtr on Qtr improvement in Free Cash Flow1. Targeting FCF neutral to positive in FY23 ▪ Stong YoY Increase in Operating Cashflow to continue into FY23 Organic growth and efficiencies from combined

  25. Slide 25: Expanding organic revenue growth, acquisitions integrating well

    Expanding organic Acquisitions integrating well and Strong acquisition pipeline across revenue growth growing better under Swoop our key growth areas High Margin Scale & Acquisition synergies Leverage the experience and capabilities Products delivered in FY22 and future to build the next large scale

  26. Slide 26: Appendix

    26 ——— a B —_ ce Appendix

  27. Slide 27: Important notice and disclaimer

    This presentation dated 29 August 2022 has been prepared by and is being issued by Swoop the intentions of Swoop, forecasts, forward looking statements and comments about future Holdings Limited ACN 009 256 535 (ASX: SWP) (Company or Swoop) for information events. The occurrence of events in the fut

  28. Slide 28: Swoop.com.au

    Swoop.com.au

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