Southern Cross Electrical Engineering Limited · ASX:SXE
Southern Cross Electrical Engineering — Non-Deal Roadshow (April 2022)
18 slides from Southern Cross Electrical Engineering's roadshow presentation, Apr 5, 2022
Slide 1: Investor Roadshow April 2022
For personal use only Investor Roadshow April 2022 Investor Roadshow April 2022 11 5 April 2022
Slide 2: Our businesses
Our businesses For personal use only Southern Cross Electrical Engineering Limited (“SCEE Group”) is a national electrical, instrumentation, communications and maintenance services company established in 1978 and listed in 2007 (ASX:SXE). The acquisitions of Datatel in 2016, Heyday in 2017 and Triva
Slide 3: Highlights
Highlights H1 FY22 Operations Outlook For personal use only Record half of revenue of $253.0m up Resources SCEE’s largest sector for first Reaffirming targeting FY22 revenues of 87% on PCP time since H1 FY17 circa $500m and EBITDA in range of Record workforce of 2,000 Rio Tinto Gudai-Darri and Albem
Slide 4: Further record half of revenue
Further record half of revenue Revenue of $253.0m broke previous half’s record revenue Summary financials: For personal use only (H2 FY21: $234.8m) and up 87% on prior corresponding period despite subdued activity levels in parts of East H1 22 H1 21 % Coast business $m $m Significant revenue contrib
Slide 5: Revenue split by sector
Revenue split by sector All three sectors up on prior corresponding period, including contributions from Trivantage For personal use only In particular, Resources up 223% as SCEE Electrical’s major construction projects at full activity H1 FY21 H1 FY22 $135m $253m $81m $39m $64m Commercial $126m Inf
Slide 6: Strong balance sheet, no debt
Strong balance sheet, no debt Cash decreased only slightly in period by $1.1m to $49.9m Balance sheet summary: For personal use only at 31 December 2021 (30 June 2021: $51.0m) despite funding Trivantage deferred consideration of $10.0m in September and FY21 final dividend of $10.2m in November Dec 2
Slide 7: Cashflow
Cashflow Cash result pleasing given continuing high levels of activity has significant working capital requirements and having funded For personal use only Trivantage deferred consideration for meeting earn-out targets Investor Roadshow April 2022 77
Slide 8: Record order book
Record order book Record order book grew by 28% over period and now exceeding half a billion dollars For personal use only Particularly driven by East Coast infrastructure projects including Sydney Metro Pitt Street Station and Western Sydney International Airport 30 June 2021 31 December 2021 $430m
Slide 9: Current projects
Current projects For personal use only MARBL JV Kemerton Lithium Multiplex Western Sydney Processing Plant International Airport Circa $150 Million Over $100 Million Rio Tinto Gudai-Darri Iron Ore CPB Sydney Metro Pitt Street Mine Station Over $100 Million Circa $40 Million Investor Roadshow April 2
Slide 10: Strategy and outlook
Strategy and outlook SCEE primarily sees itself as an electrical contractor diversified across the For personal use only resources, commercial and infrastructure sectors Our growth strategy continues to be to deepen our presence in those sectors and broaden our geographic diversity This includes par
Slide 11: Coronavirus and workforce
Coronavirus and workforce Coronavirus Workforce For personal use only East Coast lockdowns resulted in total Sydney construction Notwithstanding interstate travel restrictions in the period shutdown for part of July and later shutdowns in Victoria SCEE added further net 200 employees in WA to servic
Slide 12: Resources sector
Resources sector Resources activity more than tripled on prior corresponding period Resources revenue: For personal use only Primarily driven by high levels of activity at Albemarle Kemerton Lithium Plant and HY22 HY21 Rio Tinto Gudai-Darri but also contributions from BHP Villages Security Project a
Slide 13: Infrastructure sector
Infrastructure sector Wide sector for SCEE, including transport, road, rail, utilities, defence, telco, health and aged care, education, prisons, datacentres and Infrastructure revenue: For personal use only agribusiness facilities HY22 HY21 Record levels of transport investment sanctioned on East a
Slide 14: Commercial sector
Commercial sector Commercial now includes a full contribution from Trivantage’s Commercial revenue: For personal use only supermarket electrical services and maintenance business HY22 HY21 Sydney commercial building activity was quite subdued in first half with disruptions from lockdowns, coronaviru
Slide 15: Conclusion and outlook
Conclusion and outlook • Record half of revenue of $253.0m up 87% on PCP For personal use only • Record workforce of 2,000 • Profit ahead of consensus with EBITDA* of $14.1m up 46%, EBIT* of $9.8m up 34% and NPAT of $6.7m up 48% on PCP • Strong balance sheet with cash of $49.9m and no debt • Record
Slide 16: Corporate summary
Corporate summary For personal use only Capital Structure Shareholders at 10 March 2022 ASX Code SXE Thorney Investments 16.5% Share Price (30 March 2022) 61.0c First Sentier Investors 9.1% No. of ordinary shares 259.9m Other Institutions in Top 30 Shareholders 12.2% Market Capitalisation (30 March
Slide 17: Appendix – IFRS reconciliation
Appendix – IFRS reconciliation For personal use only SCEE’s results are reported under H1 22 H1 21 International Financial Reporting Standards (IFRS). SCEE discloses certain non-IFRS $m $m measures that are not prepared in Contract revenue 253.0 135.4 accordance with IFRS. The non-IFRS measures shou
Slide 18: Disclaimer
Disclaimer For personal use only Some of the information contained in this presentation contains “forward-looking statements” which may not directly or exclusively relate to historical facts. These forward-looking statements reflect the current intentions, plans, expectations, assumptions and belief
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