Swoop Holdings Limited · ASX:SWP
Swoop — H1 FY2024 Earnings Presentation
25 slides from Swoop's earnings presentation, Feb 28, 2024
Slide 1: 1H FY24 Financial and Operational Results
For personal use only 1H FY24 Financial and Operational Results Investor Briefing | February 2024 1
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer For personal use only This presentation dated 28 February 2024 has been prepared by and is being issued by Swoop Future performance – Past performance information provided in this presentation may not be a Holdings Limited ACN 009 256 535 (ASX: SWP) (Company or Swoop) f
Slide 3: Connecting people, improving lives.
Connecting people, improving lives. For personal use only Premium provider of residential and SMB Broadband Residential mobile telephony for price-conscious customers Fixed Wireless infrastructure to NBN for national National MVNO on the improve margins coverage Optus network 1H FY24 Financial & 3 O
Slide 4: 1H FY24 Highlights Summary
1H FY24 Highlights Summary For personal use only 1H FY24 Revenue1 of $43.5M, up 17% on 1H FY23 Revenue. Underlying EBITDA2 of $8.2M, up 13% on 1H FY23 Underlying EBITDA. Strong growth with +44% Revenue CAGR and increase of $5.9M in Underlying EBITDA from $2.3m in 1H FY21 to $8.2M in 1H FY24. A 16% i
Slide 5: 1H FY24 Financial Highlights
1H FY24 Financial Highlights For personal use only $43.5m $17.2m $8.2m $15.7m Revenue $43.5m $37.0m $7.3m +17% YoY Gross Margin $17.2m +9% YoY Underlying $8.2m 1H FY21 1H FY22 1H FY23 1H FY24 1H FY21 1H FY22 1H FY23 1H FY24 1H FY21 1H FY22 1H FY23 1H FY24 EBITDA1 +13% YoY Free Cash Flow2 1H FY21 1H
Slide 6: 1H FY24 Core Business Results
1 1H FY24 Core Business Results For personal use only Government Funded Regional Core Business excludes Infrastructure grants included in one-off payments from Reported Revenue these programs Reported Revenue $43.5m Gross Margin $17.2m Underlying EBITDA2 $8.2m Free Cash Flow3 $(1.1)m Results +17% Yo
Slide 7: 1H Wins & Awards
1H Wins & Awards For personal use only ▶ Winner ▶ Shortlisted ▶ Finalist ▶ Winner ▶ Winner CSIA Australian The Australian Australian Growth Product Review Canstar Blue Service Financial Review Company Award Most Satisfied Most Satisfied Excellence Award Digital Technology Growth Customers Customers
Slide 8: FY24 goals – we're smashing it!
FY24 goals – we’re smashing it! Efficient sales and marketing machine For personal use only Overall CAC MRR update 20% reduction in Customer Sales up by 55% in Acquisition Cost driven by Monthly Recurring more online sales Revenue terms PCP UI/UX ongoing enhancements to make our website work harder Tr
Slide 9: 1H FY24 Financial Results
For personal use only 1H FY24 Financial Results 1H FY24 Financial & 9 Operational Results
Slide 10: Financial Results
Financial Results Financial Results ($000) For personal use only 1H FY23 1H FY24 Change § Revenue increased by 17% YOY. Revenue 37,021 43,453 6,432 § Revenue growth reflects organic growth1 of 11% plus contribution from RCP (Regional COGS (21,334) (26,279) (4,945) Connectivity Program) co-build reve
Slide 11: Revenue Analysis
Revenue Analysis For personal use only Revenue ($000) 1H FY24 Revenue Mix 1H FY23 1H FY24 Change Business 5,836 5,965 129 Residential 19,757 24,835 5,078 Channel 10,558 10,985 427 Other 870 1,667 797 Total 37,021 43,453 6,432 1H FY24 Financial & 11 Operational Results
Slide 12: Summary Cash Flow
Summary Cash Flow Summary Cash Flow ($000) For personal use only 1H FY23 1H FY24 § Majority of capex is network expansion Summary Customer receipts Cash Flow 39,622 44,868 and supporting customer and network systems. Co-build income received 865 290 Payments to suppliers and employees (32,933) (37,8
Slide 13: Summary Balance Sheet
Summary Balance Sheet Summary Balance Sheet ($000) For personal use only Jun 23 Dec 23 § Strong cash position of $16.2M, with a Cash 19,044 16,175 remaining debt facility of $9.4M, provides firepower for acquisitive and organic Other current assets 10,028 11,873 growth. Trade and other payables (20,
Slide 14: Products & Focus
For personal use only Products & Focus 1H FY24 Financial & 14 Operational Results
Slide 15: Mobile
Mobile For personal use only Swoop Mobile Moose Mobile Swoop Mobile § Swoop Mobile ‘above the line’ launch October Targeting our existing § Existing customer loyalty residential customer discount offer base of approximately § Data banking, unlimited talk & 30K text, local support, no lock-in Moose Mo
Slide 16: Fixed Wireless Performance
Fixed Wireless Performance Fixed Wireless § Simplified offerings for improved customer experience § Price increase successfully implemented in November § Churn remains <1% of FW revenue base SIOs For personal use only VIC: Connecting Victoria program § ‘Connecting Victoria’ program, poised to bring s
Slide 17: Swoop nbn® H1 nbn Results
Swoop nbn® H1 nbn Results § TC4 123% increase H1 vs H2 CY23 For personal use only Winning in nbn § Fibre Connect 197% increase H1 vs H2 CY23 § 1st to launch high-speed tier business plans § Top 10 Enterprise Ethernet provider § Largest nbn Enterprise Ethernet network in Australia § Leaders in delive
Slide 18: Swoop Voice
Swoop Voice For personal use only Simplify your business phone system with Unlimited SIP trunks SIP Channels Swoop’s national voice network provides a better user experience through low latency and redundancy Channel Flexible, cost effective & scalable business voice services: § SIP Trunks with unlim
Slide 19: Focus on our People
Focus on our People We believe that everyone deserves a better telco experience. Delivering on this mission starts with For personal use only focusing on our team, with the vision to become one of Australia's employers of choice, not just in our industry but across all industries. 1H FY24 Financial
Slide 20: WGEA Reporting
‘‘ WGEA Reporting When compared with industry benchmarks, Swoop's For personal use only Swoop submitted its first report on its gender equality profile performance in closing the covering period 1 April 2022 to 30 March 2023, the results are well gender pay gap is ahead of our industry. commendable.
Slide 21: Improving Customer Service
Improving Customer Service For personal use only Delivering better support Live chat launched for training for better digital accessibility, reducing customer outcomes phone support reliance Offshore operation launched New contact centre and to scale the Support teams phone system delivered 1H FY24
Slide 22: Invest in Systems and Integration
Invest in Systems and Integration For personal use only x3 Improved Consolidated Efficient Streamlined Triple nbn orders: customer into a standard Processing: Experience: Driving growth by experience and suite of Swoop >90% of orders Simplified and investing in increased systems utilise a uniform ac
Slide 23: Acquisitions Strategy
Acquisitions Strategy For personal use only ? Mobile Residential nbn Voice Other Infrastructure UC & SIP Acquired wholesale fibre Acquired Moose Mobile Acquired Regional No previous M&A in Acquired channel and and voice infrastructure. Infrastructure Beam, this space SMB Voice provider IFibre, Lumin
Slide 24: Summary
Summary For personal use only Strong organic Focusing on our teams Expanding customer brand in our growth building strong engagement regions and low churn and values Continuing to grow Acquisitions integrating well Leverage experience and capabilities to services on high margin and growing faster un
Slide 25: Thank you
For personal use only Thank you swoop.com.au 25