Slide 1: BSA Limited 08/09 Full Year Results
For personal use only BSA Limited 08/09 Full Year Results
Slide 2: Contents
For personal use only Contents 1. Highlights 2. OH&S 3. Financials 4. Balance sheet 5. Order book and Tickets of Work 6. Operational Overview 7. Outlook Page 2
Slide 3: Highlights
For personal use only Highlights • Net profit after tax of $7.7 million • EBITDA of $15.1 million • Basic earnings per share of 4.01 cents • Revenue steady at $241 million • Operating cash flow $13.6 million – Cash Flow / EBITDA return 90% • Second half dividend of 1.0 cent – 2.0 cents for year, ful
Slide 4: Health and Safety Highlights
For personal use only Health and Safety Highlights • BSA Limited is committed to providing a workplace that is safe and without risk to health for all personnel - the aim being to eliminate work related injuries and illness. • Our focus on health and safety as a fundamental component of the business
Slide 5: Health and Safety Performance
For personal use only Health and Safety Performance (As indicated by the Lost Time Injury Frequency Rate, i.e. number of lost time injuries per million man-hours worked) Lost Time Incident Frequency Rate 18 16 14 12 LTIFR 10 8 6 4 2 0 There has been an overall downward trend in Lost Time Injury Freq
Slide 6: Financials
For personal use only Financials June 30 2009 June 30 2008 Movement Actual Actual Revenue $ 240.9m 243.9m (1.2%) EBITDA $ 15.1 m 16.1m (6.2%) EBITDA % 6.3% 6.6% NPAT $ 7.7m 8.0m (3.7%) NPAT % 3.2% 3.3% Dividend (fully franked) 2.0 cents 4.25 cents (2.25) cents Earnings per share - basic 4.01 cents 4
Slide 7: Revenue & EBIT by Division
For personal use only Revenue & EBIT by Division Revenue EBIT - 2009 300 20 $ Millions $ Millions 250 15 200 10 15.0 11.8 150 5 240.9 3.1 100 - 163.7 Contracting Building Head Office Total Solutions Services 50 (5) (6.3) 77.2 - (10) Contracting Building Services Total Solutions Page 7
Slide 8: Cashflow from operations
For personal use only Cashflow from operations Jun 30 2009 June 30 2008 Cash Flow Actual ($’000) Actual ($’000) Cash flows from operations 13,584 14,763 Add back net interest paid 1,358 1,240 Deduct capital expenditure (716) (1,898) Operating cash flow before investing 14,226 14,105 and financing •
Slide 9: Efficient Working Capital Management
For personal use only Efficient Working Capital Management June 30 2009 June 30 2008 Working Capital Actual ($’000) Actual ($’000) Trade & Other Receivables 41,193 38,827 Inventory 2,581 2,885 Trade & Other Payables (32,286) (27,949) Current Tax Liabilities (1,603) (258) Net Working Capital 9,885 13
Slide 10: Conservatively Geared – Well Placed for Growth
For personal use only Conservatively Geared – Well Placed for Growth Jun 30 2009 June 30 2008 Position Actual ($’000) Actual ($’000) Net Debt * 10,512 20,933 Equity 58,835 53,315 Net Debt : Equity 17.9% 39.3% Net Debt: Net Debt + Equity 15.2% 28.2% Net interest expense 1,078 1,350 Net interest cover
Slide 11: Strong Order Book
For personal use only Strong Order Book • Building Services success on large-scale, complex, design & construct projects requiring a high level of sustainability has underwritten the order book for the next two years, circa $150M • City Square (BHP) WA • 111 Eagle St (QLD) • Charlestown Shopping Cen
Slide 12: Building Services Revenue & Backlog & TOW Efficiencies
For personal use only Building Services Revenue & Backlog & TOW Efficiencies 90 1.6 $ Millions Millions 80 1.4 70 1.2 60 $17.5m $45.4m 1.0 50 0.8 40 $79.7m $66.5m 0.6 30 $49.1m 20 0.4 $33.1m 10 0.2 0 0.0 FY2008 FY2009 FY2010 FY2011 2008 2009 Revenue at end of FY TOW Revenue from Work on Hand at star
Slide 13: Supported by a Quality Blue Chip Customer Base
For personal use only Supported by a Quality Blue Chip Customer Base Continue to strengthen long term relationships with key customers through the delivery of exceptional service and investment in appropriate technologies. Page 13
Slide 14: Operational Overviews
For personal use only Operational Overviews Page 14
Slide 15: Contracting Solutions
For personal use only Contracting Solutions • EBITDA of $16.4 million (excluding HO allocations) • Revenue of $164 million • Solid margins continue due to improved efficiencies on key projects driven by investment in enabling technologies • Overall Tickets of Work of 1.5 million illustrates consiste
Slide 16: Building Services
For personal use only Building Services • EBITDA of $4.0 million (excluding HO allocations) • Revenue of $77.2 million • First full year of ownership of Triple M business • Maintenance and recurring revenue growing – currently $12 million • Deferral of some projects impacted earnings • Established $
Slide 17: Growth Opportunities
For personal use only Growth Opportunities Page 17
Slide 18: Outlook
For personal use only Outlook • Augmentation strategy has a 3 year horizon • A major focus in FY2009/10 is strengthening our senior management team: • Substantial investment in Senior people in Business Develop with outcome in 2010/11 • Currently recruiting for a head of M&A • Major organic growth o
Slide 19: Outlook
For personal use only Outlook • Investment in business development • Build up of development capacity • Traction in second half • Establish a Facilities Maintenance Capability and Manage and Deliver capability by using the inherent skills and software from the broader group • $40 million/annum of te
Slide 20: Summary
For personal use only Summary • 2008/2009 result in line with expectations in challenging year • 2009/2010 year of consolidation • Investment in Business Development – acquisition and organic • Efficiencies in Contracting Solutions business to retain leadership position with our customers • Develop