Slide 1: 2023 Annual General Meeting Presentation
For personal use only Annual General Meeting SOCO CORPORATION LTD (ASX:SOC) 2023 ANNUAL GENERAL MEETING PRESENTATION 24 OCTOBER 2023 ® 1
Slide 2: CEO's Presentation
CEO’S Presentation For personal use only • Acquisition of AxSym Technology • Results overview • About SOCO • Financial performance • Outlook ®
Slide 3: Incredible people delivering meaningful change
For personal use only incredible people delivering meaningful change ® 5
Slide 4: Introducing our inaugural acquisition
AXSYM TECHNOLOGY PTY LTD Introducing our inaugural acquisition For personal use only Executive summary Acquisition of AxSym Technology Pty Ltd SOCO has entered into a binding agreement to acquire 100% of the shares of AxSym for (“AxSym”) an upfront consideration of $7.5 million ($4.3m cash from exis
Slide 5: Delivering our acquisition programme for FY24 and beyond
AXSYM TECHNOLOGY PTY LTD Delivering our acquisition For personal use only programme for FY24 and beyond “SOCO and AxSym coming together, strengthens our position in Canberra, significantly increasing our local footprint and opens additional opportunities to service our growing book of Federal Govern
Slide 6: Acquisition Financials
AXSYM TECHNOLOGY PTY LTD Acquisition Financials For personal use only “….new capabilities and services that we can offer as a result of the acquisition…growing our incredibly strong Canberra client base.” AxSym’s FY23 unaudited revenue of $8.9m Significantly earnings per share accretive 4.6x EBITDA1
Slide 7: Who we serve: our new wonderful clients
AXSYM TECHNOLOGY PTY LTD Who we serve: our “NEW” wonderful clients For personal use only 9
Slide 8: SOCO has a clear strategic direction
AXSYM TECHNOLOGY PTY LTD SOCO has a clear strategic direction For personal use only Acquisition hygiene factors: (Organisations must have these) • Strong cultural alignment • Ambitious leadership with demonstrated success • High desirability/alignment score • Correct client size/segments Desirabilit
Slide 9: Our M&A plan is aligned with strategy as a force multiplier for growth
AXSYM TECHNOLOGY PTY LTD Our M&A plan is aligned with strategy as a force multiplier for growth For personal use only Strategic principle AxSym alignment High client alignment Medium to large government agencies Require specialist advisory and implementation Motivated to achieve results Geographic e
Slide 10: A parallel technology platform that complements and diversifies our offering
AXSYM TECHNOLOGY PTY LTD A parallel technology platform that complements and diversifies For personal use only our offering portfolio • ServiceNow is an NYSE listed cloud-based platform that delivers digital workflow automation across service management, operations, and business functions. • Heavily
Slide 11: Modern Workplace Team: people first, technology second
Arnie. Modern Workplace Team. We put For personal use only people first and technology second ® 13
Slide 12: Financial year results 23
REVENUE $19.7m DELIGHTING CLIENTS FOR 9.5 years NEW CLIENTS 27 Financial year results 23 For personal use only OPERATING EBIT OPERATING EBITDA FINAL DIVIDEND $3.3m $3.6m 0.5c per share Great Place AUSTRALIAN OFFICES to Work Brisbane, Melbourne, Perth, Canberra, Sydney Certified CASH ON HAND DEBTOR D
Slide 13: We've delivered strong financial performance with consistency
COMPANY FINANCIALS We’ve delivered strong financial performance For personal use only with consistency 37.7% 58.3% Operating Revenue $3.5m EBIT Growth $3.32m $20.0m Growth $19.7m (2yr CAGR) (2yr CAGR) $3.0m $17.5m $2.50m $2.5m $15.0m $13.4m $2.0m $12.5m $1.75m $1.5m $10.0m $7.9m $7.5m $1.0m $5.0m $0
Slide 14: About SOCO: we serve a diverse client pool
ABOUT SOCO FY2023 Revenue ACT – 58.7% We serve a QLD – 29.5% VIC – 6.7% diverse client pool NSW – 4.8% WA – 0.3% For personal use only spanning different sectors and regions Pre-approved Australian Government Digital Transformation Digital Marketplace panel Diverse mix of clients in full year FY23 3
Slide 15: Corporate Responsibility: ESG
CORPORATE RESPONSIBILITY Environmental, Social, Governance (ESG) Our community impact For personal use only Greenfleet SOCO is undertaking practical action against climate change by supporting Greenfleet and seeking to offset carbon emissions for each of our team, with a goal to achieve this in FY24
Slide 16: Momentum continues with strategic pillars
COMPANY OUTLOOK Momentum continues with strategic pillars For personal use only Organic revenue Inorganic growth ▪ Continuing to win contracts through ▪ Actively pursuing synergistic referrals, renewals and successful acquisitions that are EPS accretive, tenders and will complement our existing ▪ Op
Slide 17: A bright outlook for FY24 and beyond
COMPANY OUTLOOK A bright outlook For personal use only for FY24 and beyond After a strong FY23, SOCO is focussed on maintaining momentum in new client acquisition, development of existing clients, along with further expansion of headcount, continued geographic penetration, and expansion of service o
Slide 18: Legal Disclaimer
LEGAL DISCLAIMER This presentation is dated 24 October 2023 (Presentation) and has business growth, industry growth or other trend projections, and been prepared by SOCO Corporation Ltd ACN 660 362 201 any estimated earning or other performance measures, are, or (Company). Shares in the Company are
Slide 19: Contacts
contacts Brisbane – Head Office Level 4, 120 Edward Street For personal use only Brisbane QLD 4000 Simon Forth Chief Executive Officer Sydney SOCO Corporation Ltd Level 15, 60 Station Street Email: simon.forth@soco.com.au Parramatta NSW 2150 Steve Parks Canberra Chief Financial Officer Level 1, 33 A