Slide 1: Kelsian Group Limited FY22 Full Year Results
Kelsian Group Limited FY22 Full Year Results Investor Presentation Clint Feuerherdt Andrew Muir Graeme Legh Group Chief Executive Officer Chief Financial Officer Chief Development Officer 24 August 2022
Slide 2: Important notice
Important notice Disclaimer This document has been prepared by Kelsian Group Limited (ACN 109 078 257) (Kelsian Group or the Company). No party other than Kelsian Group has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or under
Slide 3: 1. FY22 Full Year Review
CONNECTING PEOPLE & PLACES = MELSIAN ! Witt Si = | He WHE L By 1:08 | eee systens 1, FY22 Full Year Review
Slide 4: FY22 financial snapshot
FY22 financial snapshot Performance demonstrating the resilient characteristics of the business Statutory results Underlying results Twelve months to 30 June 2022 Twelve months to 30 June 2022 Revenue Revenue Balance Sheet strength used to support $1,324.7 million $1,324.7 million ▲ 12.9% pcp ▲ 12.9
Slide 5: FY22 overview
FY22 overview Performing well in challenging conditions and continuing to enhance the diversity of the contracted business FINANCIAL • Underlying EBITDA up 9.3% ($183.1 million) • Revenue up 12.9% ($1,324.7 million) • Cashflow and Balance Sheet remain strong • Utilised Balance Sheet capacity to fund
Slide 6: Contract / operational characteristics by Division
Contract / operational characteristics by Division Similar contract attributes and characteristics regardless of geography Characteristic Australian Australian Singapore UK / London Marine & Metro Bus Regional Bus Bus Bus Tourism Essential service / transport provider ✓ ✓ ✓ ✓ Most Preferred operator
Slide 7: Significant investment into our people
Significant investment into our people People & Culture initiatives Well positioned to navigate and manage other cost base pressures • Embedding of Kelsian's COMPASS values • Streamlining of recruitment processes Fuel indexation Wage price General expenses Labour availability • Enhanced investment i
Slide 8: Growth
Growth Continues to be an extremely active and attractive sector • Significant pipeline of long-term government franchises available • Fragmented market - numerous operations in targeted geographies with favorable contract characteristics • Demonstrated a disciplined approach to acquisition growth (
Slide 9: © Kelsian Group Limited FY22 Full Year Results – Investor Presentation
© Kelsian Group Limited FY22 Full Year Results – Investor Presentation 9
Slide 10: © Kelsian Group Limited FY22 Full Year Results - Investor Presentation
10 © Kelsian Group Limited FY22 Full Year Results - Investor Presentation
Slide 11: 2. FY22 Financial Results
2. FY22 Financial Results Resilient Performance
Slide 12: Summary Profit & Loss Statement
Summary Profit & Loss Statement 83.2% of annualised revenue contracted or non-discretionary • Total revenue rising to $1,324.7 million, driven by impact of Go West Tours acquisition, River City Ferries (full 12 months contribution) and new Singapore contract (9 months) • Operating expenses increased
Slide 13: One-off items
One-off items $2.0 million net impact of one-off items normalised to underlying profit, relating to acquisition costs and abnormal gains from UK divestments Transaction and due diligence costs ($3.0 million) During the period, $3.0 million of “one-off” transaction and due diligence related costs exp
Slide 14: Cashflow
Cashflow Underlying business continues to generate strong cashflow Operating Dividends cashflow paid $138.5m $34.9m Net operating cash flow up Good earnings quality and $26.7 million or 23.9% strong cash generation support dividend payments Cash Business reserves combinations $141.1m $68.0m Maintain
Slide 15: Conservative capital structure
Conservative capital structure Improved Balance Sheet strength • Balance Sheet strength is an asset - offers resilience and creates optionality • Gearing ratio (net debt divided by (net debt + equity)) of 31.2% increased from 30.5% • Identifiable customer contracts goodwill of $15.4 million and reco
Slide 16: Capex overview
Capex overview $43.1 million of capital deployed to underpin growth and re-fresh tangible asset base • Marine & Tourism: Vessels for Magnetic Island, Stradbroke Island, Sydney dining vessel MAJOR • Australian Bus: Electric buses and depot charging infrastructure, motor vehicles, IT ADDITIONS & infra
Slide 17: 3. Divisional Performance Overview
3. Divisional Performance Overview
Slide 18: Australian Bus
Overview of FY22 performance | Australian Bus Contracted earnings delivering a resilient financial performance • Good performance from all jurisdictions • Contracted revenue tracking inflationary pressures and insulated from COVID volatility • Resurgence of rail replacement, special event and charte
Slide 19: International Bus
Overview of FY22 performance | International Bus London restructure completed. Singapore operations doubled in size with new contract commencement London Financial year ended 30 June $m 2022 2021 Growth Growth % • JV with RATP Dev UK provides scale and synergies (December 2021) Revenue 268.1 255.8 1
Slide 20: Marine & Tourism
Overview of FY22 performance | Marine & Tourism Solid trading result during a challenging operating period • Results impacted by COVID restrictions and uncertainty in first half, improved demand post Easter and forward bookings • Staff shortages a limiting factor – particularly hospitality • Weather
Slide 21: Corporate
Overview of FY22 performance | Corporate Focus on integration and efficiency improvements Information technology & cyber People • IT systems & software • Training & development Corporate • Cyber prevention • ESG Manager • Property Manager Customer experience Overhead costs Joondalup Depot, WA • Webs
Slide 22: 4. Outlook & Growth
AELSIAN CONNECTING PEOPLE & PLACES
Slide 23: Trading update and outlook
Marine & Tourism portfolio Trading update and outlook is poised to take advantage of the return of interstate Essential services continue to run on a full schedule and international visitors FY23 YTD trading update Outlook • July 2022 trading results in line with • Liquidity and strong Balance Sheet
Slide 24: Attributes underpinning growth
Attributes underpinning growth Kelsian well positioned to capitalise on these opportunities GREENHOUSE GAS EMISSIONS MODAL SHIFT FROM CARS ZERO EMISSION TARGET Transport is one of the largest sources of Public transport offers compelling solutions on Bus industry is well advanced in switching to zer
Slide 25: Growth
Tower Transit Singapore, Bulim Depot. Near term growth opportunities Medium to long term objectives Growth • Strong government contract tender pipeline in • Position to take advantage of the extensive pipeline Australia and NZ – most significantly in Sydney and of organic growth opportunities and on
Slide 26: Appendix 1: Overview of Operations
Appendix 1 Overview of Operations
Slide 27: © Kelsian Group Limited FY22 Full Year Results – Investor Presentation
© Kelsian Group Limited FY22 Full Year Results – Investor Presentation 27
Slide 28: © Kelsian Group Limited FY22 Full Year Results – Investor Presentation
© Kelsian Group Limited FY22 Full Year Results – Investor Presentation 28
Slide 29: © Kelsian Group Limited FY22 Full Year Results – Investor Presentation
© Kelsian Group Limited FY22 Full Year Results – Investor Presentation 29
Slide 30: © Kelsian Group Limited FY22 Full Year Results – Investor Presentation
© Kelsian Group Limited FY22 Full Year Results – Investor Presentation 30
Slide 31: Appendix 2: Great Britain/Europe Organisation Structure
Appendix 2 Great Britain/Europe Organisation Structure
Slide 32: Kelsian UK – Great Britain/Europe Organisation Structure
Kelsian UK – Great Britain/Europe Organisation Structure Capability maintained to capitalise on growth opportunities in Great Britain and Europe International Bus © Kelsian Group Limited FY22 Full Year Results – Investor Presentation 32