Bsa Limited · ASX:BSA
Bsa — Broadcast Services Australia — FY2005 Earnings Presentation
23 slides from Bsa's earnings presentation, Sep 20, 2005
Slide 1: Broadcast Services Australia Limited Investor Presentation
Broadcast Services Australia Limited investor Presentation Year ended 30 June 2005 0 September 2005
Slide 2: Steady growth and strong performance in some areas
“Steady growth and strong performance in some areas counter balanced by setbacks in others. We see 2006 as a year in which each division will consolidate and grow from the solid base it now has” Brian Baldwin, Acting Chairman
Slide 3: Results for the period ended June 2005
Results for the period ended June 30 2005 > Revenue of $119.1 M ~ 19% from the previous year EBITDA $4.6 M Vv 39% from the previous year NPAT $1.14M v 57% from the previous year Cash at bank «. $2M from the previous year 24 half EBITDA $3.0M 91% from 1* half earnings Sr N ORAS 2004
Slide 4: Current Quarterly Run Rate to June 2005
Current Quarterly Run Rate to June 2005 > 24 half EBITDA $3.0M & 91% from 1 half earnings >» EBITDA is trending up over past 3 quarters (viewed quarterly) Sep-04 Oct-04 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 ——EBITDA
Slide 5: Factors affecting results
Factors affecting results Continued Telstra business growth Further FOXTEL business growth and consolidation Transmission Solutions business lost $2.2 million Solid Optus performance throughout year Home Services was breakeven over the year Improved accounts management and cash position
Slide 6: Company Milestones and Achievements 2005
Company Milestones and Achievements 2005 Overall continued revenue growth trend Met or exceeded forecasts and increased margins/efficiency measures for all volume contracting business units Awarded increased Telstra work Awarded Austar domestic 3 year satellite installation contract FNQ. Re-signed O
Slide 7: Key Financials 2005
Key Financials 2005 Performance Position Cash Flow Working Capital Growth
Slide 8: Actual revenue and EBITDA
Actual == Actual = Actual ~~ Revenue $ EBITDA $ || EBITDA %
Slide 9: Net Debt
Net Debt* 2,542 Equity 22,246** Debt : Equity 11.4% Trading EBITDA 7,511 Net interest expense 438 Net interest cover (EBITDA) 17 +100.0%
Slide 10: Cash Flow
I Cash Flow Cashflows from operations +383.6% Add back net interest paid -69.4% Deduct capital expenditure -10.9% - Operating cashflow before investing and financing +192.9%
Slide 11: Working Capital
| Working Capital _ Receivables 17,358 Stock 2,703 Less Payables (9,215) (11,853) (13,402) Total 10,846 9,962 4,194 Revenue 119,079 100,174 68,507 "| Working Capital as a % of Revenue 9.1% 9.9% 6.1%
Slide 12: Borrowings
|_| Borrowings Cash assets Net debt . Equity 22,246* 14,268* * comparative adjusted for BSA P/L adj. ($6.749M ) in 2005
Slide 13: AIFRS Transitional adjustments
AIFRS Transitional adjustments: | (If accounts had been prepared under AIFRS) > | > Equity based compensation Reversal of amortisation of Goodwill current year P&L impact Impairment of Goodwill adjustment to opening Retained Earnings
Slide 14: Contracting 2005
Contracting 2005 > Digital product from FOXTEL driving satellite TV installation demand. Integrated operations/call centre. Telstra team continued to perform well. Received impressive results against KPI review criteria. New business. Optus business unit outperformed budget and quality expectations
Slide 15: Transmission and projects 2005
Transmission and projects 2005 > Loss of major customer in broadcast equipment sale and installation business Harris equipment delays opened market to additional agent for broadcast equipment sales Regional roll-out slowed considerably due to confusion related to equipment delivery and sales Maintai
Slide 16: Transmission and projects 2005
Transmission and projects 2005 > Redefined focus of the business unit. Looked at strategic direction suitable to core project and sales skills Invested in Telecommunications knowledge and capability — DSLAM, microwave, integrated IP technology. Secured only Australian Harris microwave agency and ini
Slide 17: 2006 year
2006 year Profits were significantly stronger in the second half of last year (91% EBITDA increase in second half) and have increased consecutively in the last three quarters. Driven primarily by the growth in subscription television, Telecommunications outsourcing and the rollout of infrastructure
Slide 18: Factors affecting 2006 year
Factors affecting 2006 year Continued growth in regional broadband and wireless communications deployment Increase in telecommunication carriers CAPEX spend Expected increase in outsourced Telstra services Further Subscription Television take-up
Slide 19: Issued Capital adjustment
Issued Capital adjustment The Company entered into a ‘Share Sale Agreement’ for the purchase of shares in BSA P/L in December 2002. The agreement was subsequently varied under the terms of the ‘Deed of Variation ‘. In accordance with the deed, a maximum of 48.2 million shares could be consolidated d
Slide 20: Factors affecting 2006 year
Factors affecting 2006 year Home entertainment and broadband growth Increased DSL deployment by all carriers Broadcast transmission roll-out sales to slow Regional infrastructure growth Home security growth Regional microwave deployment to grow
Slide 21: Management Focus — Operational Issues
Management Focus — Operational Issues BSA’s Management goal: ‘to be become the most efficient provider of | technical services in our chosen industries” > Cost control focus on volume business No significant capex expenditure anticipated Wages not expected to rise beyond industry benchmarks Contract
Slide 22: Growth Opportunities
Growth Opportunities BSA’s strategic goal: ‘To build on its current capabilities and explore | new opportunities taking advantage of BSA’s market position” | Growth opportunities : Subscription television installation and services > Broadening of service offering Telecommunications and broadcast pro
Slide 23: WWW.BSA.COM.AU
WWW.BSA.COM.AU
Broadcast Services Australia — FY2005 Earnings Presentation on 6ix