Tasmea Limited · ASX:TEA
Tasmea — H1 FY2025 Earnings Presentation
21 slides from Tasmea's earnings presentation, Feb 25, 2025
Slide 1: H1 FY25 Results Presentation
H1 FY25 Results Presentation For the 6 months ended 31 December 2024 Delivering Value. Always!
Slide 2: Contents
Contents 3 Who We Are 4 What We Do SIGMA POWER SERVICES 5 H1 FY25 Key Highlights 6 Geographical Footprint 7 Health & Safety 8 Financial Review 14 Recent Acquisitions 17 Outlook 21 Impor tant Notice FUTURE ENGINEERING GROUP 2 H1 FY25 RESULTS PRESENTATION TASMEA LIMITED
Slide 3: Who We Are
Who We Are Tasmea owns and operates 22 inter-dependent leading Australian diversified specialist trade skill services businesses focusing on maintenance, shutdown, breakdown and brownfield upgrade services of fixed plant for blue chip essential asset owner customer base 1,600+ 40+ 22 Skilled employe
Slide 4: What We Do
What We Do We deliver specialist maintenance, shutdown, emergency breakdown and sustaining capital services to fixed plant for essential asset owners OPERATING SEGMENTS KEY INDUSTRIES STRATEGIC PILLARS Electrical Organic focus Programmatic acquisitions Industrial Electrical Instrumentation, Communic
Slide 5: H1 FY25 Key Highlights
H1 FY25 Key Highlights Another Half Year Performance in line with our ethos of: Delivering Value. Always! KEY HIGHLIGHTS H1 Revenue H1 OCF to EBIT conversion Record first half revenue and earnings Specialist trade capability resulted in $247m28% 93.7% expansion of already industry leading on $1
Slide 6: Geographical Footprint
Geographical Footprint 40+ Offices, workshops & site operation locations ORANGE Tasmea subsidiaries operate nationally with offices and facilities maintained throughout Australia, often operating in harsh environments where assets require significant maintenance 6 H1 FY25 RESULTS PRESENTATION QUARRY
Slide 7: Health and Safety
Health and Safety Tasmea subsidiaries are committed to safety and sustainability, which is key to maintaining our strong relationships with clients, our employees and the communities we serve. KEY HIGHLIGHTS • Safety is a top priority across all Tasmea subsidiary’s operations 4,400+ • Integration of
Slide 8: Financial Review
Financial Review 2024 RESULTS PRESENTATION TASMEA LIMITED FUTURE ENGINEERING GROUP
Slide 9: Group Financial Performance
Group Financial Performance Tasmea delivered strong financial growth in comparison to H1 FY24 ....delivering gross profit, EBIT and NPAT margin growth $m H1 FY23 H1 FY24 H1 FY25 Revenue 150.0 193.3 246.7 28% 77% Gross Profit 38.5 56.2 75.1 Revenue increase NPAT increase Gross Profit % 25.7% 29.1% 30
Slide 10: Group Financial Position
Group Financial Position KEY HIGHLIGHTS Tasmea has a strong financial position with an efficient working capital profile Working capital / revenue Q2 annualised ROCE Balance Sheet ($m) Jun 2024 Dec 2024 Trade and other receivables Inventories and contract assets Other assets 53.9 43.2 15.9 55.0 39.2
Slide 11: Cashflow
CONSISTENTLY STRONG OPERATING CASHFLOW Cashflow GENERATING BUSINESS Average: 102.2% Tasmea has a disciplined approach to cash management delivering high OCF to EBIT conversion rate 112.5% 122.1% 75.2% 107.3% 93.7% $m H1 FY24 H1 FY25 FY21 FY22 FY23 FY24 H1 FY25 Operating cashflow (before interest & t
Slide 12: Capital Management Framework
Capital Management Framework Tasmea operates under a strict capital management framework to deliver growth and shareholder returns Excess 41% Cash H1 FY25 Payout Ratio Organic Growth $33.4m ($64.4m) ($85.9m) ~18% Operating Cashflow * Investing Cashflow Net Debt Programmatic after Executive Acquisiti
Slide 13: Comparison to Prior Periods
Comparison to Prior Periods Delivering Revenue, NPAT and Dividend Growth Group Revenue ($m) Group NPAT ($m) Fully Franked Interim Dividend (cents) 28% 60% 83% CAGR CAGR CAGR 246.7 27.9 5.0 193.3 150.0 15.8 2.5 10.9 1.5 H1 FY23 H1 FY24 H1 FY25 H1 FY23 H1 FY24 H1 FY25 H1 FY23 H1 FY24 H1 FY25 13 H1 FY2
Slide 14: Recent Acquisitions
Recent Acquisitions 2024 RESULTS PRESENTATION TASMEA LIMITED FUTURE ENGINEERING GROUP
Slide 15: Successful Acquisition Integration
Future Engineering Group (“FEG”) has been successfully integrated into Successful the Tasmea group since acquisition Acquisition Integration KEY HIGHLIGHTS • Tasmea specifically targeted a gap in our electrical segment specialist service offering able to leverage the rapidly growing electrification
Slide 16: Sustainability in Action
Sustainability in Action 12+ years 11% 25% Female participation in workforce Female Board and LTI free Executive Management Supply Nation Carbon Neutral Electrification Certified Certification Acceleration Assisting clients meet their Yura Yarta Services Tasman Power and carbon reduction goals Tasma
Slide 17: Outlook
Outlook 2024 RESULTS PRESENTATION TASMEA LIMITED NORTH WEST MINING & CIVIL
Slide 18: Positive Outlook
Positive Outlook Tasmea is strategically positioned for continued growth … … resulting in a further NPAT guidance upgrade KEY HIGHLIGHTS Upgrade to FY25 statutory NPAT to $52m (inclusive of forecast ESOP, LTI and OIP scheme expenses in H2) up again from guidance at AGM in November 2024 of $48m NPA
Slide 19: Indicative NPAT based on Q2 Run Rate
Indicative NPAT based on Q2 Run Rate Successfully integrated acquisitions of Future Engineering Group and West Coast Lining Systems acquired during Q1. Q2 earnings are reflective of underlying run rate with new acquisitions contributing from the start of Q2. INDICATIVE GROUP EBIT ($M) Q2 EARNINGS IN
Slide 20: Investment Case
Investment Case Tasmea’s share price has increased by 103% from an IPO price of $1.56 to $3.17 as at close 24 February 2025 Market Cap Shares on issue Share Price 4.00 3.50 $729m 230m $3.17 At market close At market close At market close 24 February 2025 24 February 2025 24 February 2025 3.00 HIGHLI
Slide 21: 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