Tasmea Limited · ASX:TEA
Tasmea — Tasmea Capital Raising Presentation
45 slides from Tasmea's investor presentation, Sep 8, 2025
Slide 1: Tasmea Limited Equity Capital Raising
TASMEA LIMITED Equity Capital Raising SEPTEMBER 2025
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer Important Notices This investor presentation is dated 8 September 2025 and has been prepared by Tasmea Limited (ABN 22 088 588 425) (Company). The Company will be conducting an equity raising of new fully paid ordinary shares (New Shares) in the Company (Offer). New S
Slide 3: Important Notice and Disclaimer (cont'd)
Important Notice and Disclaimer (cont'd) Not an offer This presentation is not a prospectus, product disclosure statement or other offering document under Australian law or any other law and will not be lodged with the Australian Securities and Investments Commission. This presentation is not an inv
Slide 4: Important Notice and Disclaimer (cont'd)
Important Notice and Disclaimer (cont'd) No cooling off Cooling off rights do not apply to the acquisition of New Shares. Financial and other information All financial information in this presentation is in Australian dollars (A$ or AUD) unless otherwise stated. Certain figures, amounts, percentages
Slide 5: Important Notice and Disclaimer (cont'd)
Important Notice and Disclaimer (cont'd) The Lead Manager (defined below) and its related bodies corporate (as defined in the Corporations Act 2001 (Cth)) and affiliates and each of their respective officers, directors, partners, employees, agents and advisers (Lead Manager Parties) have not authori
Slide 6: Important Notice and Disclaimer (cont'd)
Important Notice and Disclaimer (cont'd) The Lead Manager, its affiliates and related bodies corporate, are full service financial institutions engaged in various activities, which may include trading, financing, corporate advisory, financial advisory, investment management, investment research, pri
Slide 7: Offer Overview
Offer Overview Tasmea is raising $43 million via an Institutional Placement. Offer Structure • $43 million institutional placement ("Placemen" or "Offer") comprising the issue of 10.0 million new fully paid ordinary shares at the Offer and Size Price to professional, sophisticated and institutional
Slide 8: Sources and Uses
Sources and Uses Tasmea is raising $43 million via an Institutional Placement. Sources A$m Placement 43.0 Total 43.0 Uses A$m Balance Sheet flexibility for future acquisitions 41.7 Cost of the Offer 1.3 Total 43.0 8 EQUITY CAPITAL RAISING TASMEA LIMITED
Slide 9: Key Risks
Key Risks An investment in Tasmea carries certain risks. The principal risks are outlined below and should be considered alongside the disclosures made in Tasmea’s Annual Financial Report. Health, Safety & Environment (HSE) Safety performance and compliance are critical to reputation, contract pipel
Slide 10: Offer Timetable
Offer Timetable Tasmea is raising $43 million via an Institutional Placement. Event Date Trading halt Friday, 5 September 2025 Bookbuild opens 10:00am Friday, 5 September 2025 Bookbuild closes 3:00pm Friday, 5 September 2025 Announcement of successful transaction Monday, 8 September 2025 Settlement
Slide 11: Summary of Underwriting Agreement
Summary of Underwriting Agreement The Company has entered into an underwriting agreement with the Lead Manager in respect of the Offer (Underwriting Agreement). The Underwriting Agreement contains customary representations and warranties and indemnities in favour of the Lead Manager. Details of the
Slide 12: Summary of Underwriting Agreement (cont'd)
Summary of Underwriting Agreement (cont'd) p) the Company varies a term of its constitution without the prior written consent of the Lead Manager; q) the Company or its directors or officers engage, or have engaged, in any fraudulent activity; r) a representation, warranty, undertaking or obligation
Slide 13: Tasmea Limited FY25 Results Presentation
Tasmea Limited FY25 Results Presentation AUGUST 2025
Slide 14: Highly compelling investment thesis
Highly compelling investment thesis 1. STRONG MARKET 2. CASH FLOW 3. CONTINUING & CONSISTENT 4. STRONG ORGANIC GROWTH & OUTLOOK & GUIDANCE GENERATIVE NPAT, EPS & DPS GROWTH ACQUISITION PIPELINE Record order book of $600m to be High cash conversion rates (EBIT to 53% Statutory NPAT CAGR Ongoing inves
Slide 15: FY25 Highlights
FY25 Highlights Revenue (Statutory) EBIT (Statutory) $547.9m $74.4m 37% 60% Pro-forma Revenue of $620.8m, +52% Pro-forma EBIT of $93.2m, +70% EBIT Margin % NPAT (Statutory) 13.6% $53.1m 200bps EBIT margin improvement 74% Pro-forma EBIT margin of 15.0% Exceeded FY25 NPAT guidance of $52.0m Pro-forma
Slide 16: Strong & consistent earnings growth
Strong & consistent earnings growth Tasmea has grown its PRO-FORMA EBIT PRO-FORMA NPAT earnings whilst improving 93 63 margins on a Pro-Forma 33% 36% and Statutory basis CAGR CAGR 55 37 43 28 35 23 30 18 KEY HIGHLIGHTS 13.9% 11.8% 11.7% 13.5% 15.0% 8.5% 7.9% 7.7% 9.1% 10.1% Pro-Forma EBIT of $93m up
Slide 17: Shareholder dividends
Shareholder dividends Tasmea has declared a fully franked final FY25 dividend of 6.0 cents per share. DPS CAGR of 53.1% since FY21 excluding the 11.0c 23.0c special dividend paid of 12.0cps Dividend (cps) Fully Franked Fully Franked 23.0 FY25 Dividends FY25 Dividends including interim & final includ
Slide 18: High cash conversion
High cash conversion OPERATING CASH CONVERSION 101% 5yr avg. FY25 FY24 Operating cash flow (before interest & tax) $m 65.2 49.2 Investing cash flow $m 77.2 54.8 Financing cash flow $m 25.9 20.0 Net increase/(decrease) in cash $m (4.8) 8.1 OCF (before interest & tax) / EBIT % 88% 106% 113% 122% 75% 1
Slide 19: Positioned to fund growth: Strong balance sheet
Positioned to fund growth: Strong balance sheet FY25 FY24 Upsized banking facilities. We have received an offer from our bank to materially increase our banking facilities and extend the term of our Term loans $m 111.2 37.4 facilities at more competitive rates. These facilities are currently being E
Slide 20: Capital Management Framework
Capital Management Framework Tasmea operates under a strict capital management framework to deliver growth and shareholder returns Operating Free Balance Sheet Shareholder Cash generating Organic Growth Cash Flow Cash Flow Strength Returns Excess Cash Disciplined Cashflow Sustainable Capital Maintai
Slide 21: Outlook & momentum in growth strategy
Outlook & momentum in growth strategy FY26 guidance Track record of STATUTORY EBIT GROWTH ORGANIC VS ACQUISITION re-confirmed organic growth $110m EBIT and $70m NPAT +32% growth +33% organic EBIT CAGR since FY22 15.4% • Pipeline remains strong with earnings visibility • Well above internal organic g
Slide 22: High recurring revenue pipeline
High recurring revenue pipeline Growth and quality of recurring revenues providing increased earnings visibility FY26 Revenue Pipeline KEY HIGHLIGHTS 800 FY26 pipeline remains strong with high visibility over earnings 700 Increased order book from $465m at commencement of FY25 to $600m at 600 commen
Slide 23: Market outlook
Market outlook Iron Ore production in Australia (mt)1 1,200 1,100 Volumes rising 1,000 900 Iron ore, copper, gold output rising to FY27 1, pushing more tonnes through 800 brownfield plant. FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 • Iron ore: Volumes up while prices ease → assets run harder; incr
Slide 24: Electrification tailwinds
Electrification tailwinds Capacity, National Energy Market (GW, FY20 to FY50)1 300 Historical >200% Grid transition paves sustained delivery runway growth 200 forecast Transmission, distribution and storage infrastructure needed 100 • ~5,000 km new/upgrade transmission lines over the next decade / 1
Slide 25: Yura Yarta: 56 Indigenous Employees
Leveraging proven expertise of Tasmea executive and subsidiary skills to create indigenous opportunities Yura Yarta: Key highlights Indigenous-Owned Expertise Tasmea indigenous leaders are invited to own 51% of Yura Yarta Supply Nation Certified Certified Indigenous business Indigenous Only Wo
Slide 26: Addressing investor priorities
Addressing investor priorities Strong FY26 guidance of $70m Statutory NPAT, ~32% NPAT growth YoY Twin pillar strategy of growing earnings organically & via programmatic acquisitions: 1 Increasing (i) keeping what we have, building market share, increasing cross-selling & providing new services t
Slide 27: Executive management-shareholder alignment
Executive management-shareholder alignment Tasmea is lead by its founder Directors who collectively own more than 60% of Tasmea. Strategically aligned senior management team with ~100 employees identified to participate in long-term incentive plans (LTI) and focused on delivery of LTI earnings targe
Slide 28: Q&A
Q&A 28 2025 RESULTS PRESENTATION TASMEA LIMITED
Slide 29: Appendices
Appendices Strategy Scaling Up: Recent programmatic acquisitions Electrical segment Mechanical segment Civil segment Water & fluid segment Reconciliation of FY25 Statutory NPAT to guidance Tasmea subsidiaries Geographic footprint Revenue diversification Safety Sustainability
Slide 30: Strategy
Strategy We remain focused on executing our twin-pillar strategy Organic Growth 15% YoY growth Deep, recurring Service Geographic and Strong financial target customer expansion & industry discipline relationships cross-selling expansion Supported by disciplined Secured through Leveraging o
Slide 31: Scaling Up: Recent programmatic acquisitions
Scaling Up: Recent programmatic acquisitions Recent programmatic acquisitions added maintainable EBIT of ~$31.3m Expansion into electrification-oriented businesses, civil and water & fluid SUBSIDIARY OVERVIEW ACQUISITION RATIONALE FUTURE GROUP • HV powerline and communications infrastructure • Tasme
Slide 32: Electrical segment
Electrical segment HIGHLIGHTS STATUTORY EBIT AND MARGIN ($M) • Strong demand for our electrical services • Strategic, programmatic acquisitions of Future 40 Group and Vertex Group • Electrical segment Revenues increased 66% 32 YoY to $213m and Statutory EBIT increased 30 135% YoY from $14m to $32m •
Slide 33: Mechanical segment
Mechanical segment HIGHLIGHTS • Revenues grew by 2% YoY to $145m, whilst STATUTORY EBIT AND MARGIN ($M) Statutory EBIT declined 12% from $17m to 20 $15m 17 • FY25 EBIT and EBIT margin was slightly lower, driven by the cancellation of a number of our 15 drill rig hire arrangements exposed to Nickel 1
Slide 34: Civil segment
Civil segment HIGHLIGHTS • Revenues grew by 92% YoY to $103m STATUTORY EBIT AND MARGIN ($M) • Statutory EBIT grew 68% from $10m to $18m 20 driven by strong growth performance by our 18 existing Civil businesses and complemented in the last quarter by our acquisition of Flanco Group 15 • Margins decr
Slide 35: Water and fluid segment
Water and fluid segment HIGHLIGHTS • Revenues grew 18% YoY STATUTORY EBIT AND MARGIN ($M) • EBIT increased 43% from $6m to $9m driven 10 by organic growth and acquisitions of WCLS and VTX Group 9 • In FY26, margins are forecast to remain 8 broadly consistent with FY25, with modest revenue growth dri
Slide 36: Reconciliation of FY25 Statutory NPAT to Guidance
Reconciliation of FY25 Statutory NPAT to Guidance Notes: Forecast Actual Note $m $m 1. Includes income from the revaluation of purchase price guarantee derivatives related to the NPAT Guidance (Excl. Accounting Adjustments) 50.1 50.1 FEG ($5.7m), Flanco ($0.9m) and Vertex ($0.2m) acquisitions. The d
Slide 37: Tasmea Subsidiaries
Tasmea Subsidiaries ELECTRICAL 17 Years of 24 Years of 12 Years of 3 Years of 20+ Years of 18 Years of 9 Years of Service Service Service Service Service Service Service 51% Indigenous Owned MECHANICAL 9 Years of 28 Years of 8 Years of 11 Years of 15 Years of 9 Years of 49% Tasmea Owned Service Serv
Slide 38: Geographic Footprint
Geographic Footprint DARWIN KEY INDUSTRIES MCARTHER RIVER MINING & RESOURCES MT ISA OIL & GAS MACKAY KARRATHA POWER & RENEWABLES TOM PRICE GLADSTONE WASTE & WATER PARABURDOO COOPER BASIN BRISBANE DEFENCE, INFRASTRUCTURE ROXBY DOWNS TELECOM & RETAIL KALGOORLIE BROKEN HILL WHYALLA ORANGE PERTH SYDNEY
Slide 39: Diverse revenue base and national presence
Diverse revenue base and national presence • We have deep-relationships with blue-chip owners of essential fixed assets nation-wide across a diversified number of key industries and key commodities • Operations located in remote harsh environments nation-wide (excluding ACT) • Plant wear necessitate
Slide 40: Health, Safety & Wellbeing Performance
Health, Safety & Wellbeing Performance Safety Culture Talent Retention & Attraction High Safety Performance Operational Reliability Strong Client Relationships Recurring Revenue Retention Safety is a top priority across all Tasmea subsidiary’s operations 4,565+ Integration of Tasmea’s safety ethos,
Slide 41: Sustainability in Action
Sustainability in Action 12+ years 11% 14% LTI free Female participation in workforce Female Board and Executive Management Supply Nation Carbon Neutral Electrification Certified Certification Acceleration Yura Yarta Services Tasman Power and Assisting clients meet their Tasman Rope Access carbon re
Slide 42: Operational Risks
Operational Risks Tasmea’s operations are subject to a range of risks inherent in delivering specialist maintenance and project services. Key operational risks include: Tasmea’s reputation and ability to secure contracts relies on maintaining a strong record of workplace safety. While the Group has
Slide 43: Market & Industry Risks
Market & Industry Risks Tasmea’s performance is influenced by external market conditions and industry dynamics beyond the Company’s control. Key market and industry risks include: Tasmea generates a significant portion of revenue from a small number of major customers, often through multiple subsidi
Slide 44: Financial & Investment Risks
Financial & Investment Risks Tasmea’s financial position and shareholder returns may be affected by broader funding, capital management, and investment market risks. Key financial and investment risks include: Tasmea requires ongoing access to debt and equity markets to fund operations, acquisitions
Slide 45: Important notice
Important notice • This document has been prepared by Tasmea Limited (ABN 22 088 588 425) (“Tasmea” or “the Company”). No other party other than Tasmea has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or undertakings in this d