Slide 1: BSA Limited FY12 Half Year Investor Presentation
For personal use only BSA Limited and subsidiary companies FY12 HALF YEAR INVESTOR PRESENTATION
Slide 2: Agenda
AGENDA For personal use only BSA Results Overview Financial Review Business Unit Review Chilled and heating water Conclusions reticulation pipework at Swinburne University ACT 2 BSA LIMITED INVESTOR PRESENTATION FIRST HALF 2011‐12
Slide 3: BSA Results Overview: Highlights
BSA RESULTS OVERVIEW For personal use only HIGHLIGHTS Revenue up 39% to $264m EBITDA up 31% to $11.0m Net cash of $6.7m (pcp net debt of $12.6m) NPAT up 38% to $6.0m (pcp $4.3m) Burke Air acquisition fully integrated Creation of Technical Maintenance Services business unit and consolidation of exist
Slide 4: BSA Overview: Positioned for Growth
BSA OVERVIEW For personal use only POSITIONED FOR GROWTH 17% Proforma Revenues 57% H1 FY2012 Building Services Construction 26% Technical Maintenance Services Contracting Solutions BUILDING SERVICES TECHNICAL CONTRACTING SOLUTIONS CONSTRUCTION MAINTENANCE SERVICES BUILDING SERVICES MAINTENANCE SERVI
Slide 5: BSA Platform for Growth
BSA PLATFORM FOR GROWTH For personal use only CONSISTENT EXECUTION CORE STRENGTHS BUSINESS MODEL Disciplined tendering Contract based and contract management New build and upgrade installation Excellent project and field force management Ongoing facilities services and maintenance Logistics, custome
Slide 6: BSA Strategy
BSA STRATEGY For personal use only CLEAR STRATEGIC PRINCIPLES LEADERSHIP SUSTAINABILITY GROWTH Each business unit has a scalable Low gearing, Quality organic prospects in each platform for growth maintainable payout ratio business unit Enterprise Resource Planning Focus on containment of Disciplined
Slide 7: Burke Air – Acquisition Case Study
BURKE AIR – ACQUISITION CASE STUDY For personal use only CORE FUNDAMENTALS STRENGTHS BUSINESS OUTCOME MODEL Acquired 1 August 2011 Fully integrated on Pronto system within three months Purchase price of $9.2m with $8.9m paid in cash from existing resources and $0.3m in BSA shares First five months t
Slide 8: Agenda
AGENDA For personal use only BSA Strategy Financial Review Business Unit Review Telecommunications Conclusions Training at BSA’s dedicated facilities 8 BSA LIMITED INVESTOR PRESENTATION FIRST HALF 2011‐12
Slide 9: Solid First Half Performance
FULL YEAR RESULTS For personal use only SOLID FIRST HALF PERFORMANCE Sound financial performance +38% INREVENUE $MILLIONS Revenue up 39% to $264million 500 EBITDA up 31% to $11.0 million 400 NPAT up 38% to $6.0 million 300 Effective tax rate 11% (pcp 2.0%) Earnings per share of 2.67 cents 200 Interi
Slide 10: Income Summary
INCOME For personal use only SOLID FIRST HALF PERFORMANCE ($000) Half Year Half Year Movement SUMMARY 2011/12 2010/11 Actual Revenue $ 264,248 190,306 39% EBITDA $ 11,052 8,393 31% EBITDA % 4.2% 4.4% (5.2%) PBT $ 7,141 5,198 37% Income Tax Expense $ ‐797 ‐94 847% NPAT $ 5,955 4,304 38% Dividends (fu
Slide 11: Cashflow Summary
CASHFLOW For personal use only STRONG CASHFLOW ($000) Half Year Half Year SUMMARY 2011/12 2010/11 Revenue 264,248 190,306 Cash flows from operations 12,026 2,499 Cash flows from investing (9,839) (2,638) Cash flows from financing (11,965) (2,343) Net Cash /(Debt) at end of period 6,739 (12,635) Stro
Slide 12: Strong Cash Generation
CASHFLOW For personal use only STRONG CASH GENERATION NET CASH / DEBT IN $MILLIONS 20.00 15.00 + $7m 10.00 5.00 ‐ (5.00) (10.00) (15.00) ‐ $10m 12 BSA LIMITED INVESTOR PRESENTATION FIRST HALF 2011‐12
Slide 13: Conservatively Geared
CONSERVATIVELY GEARED For personal use only HEADROOM FOR GROWTH ($000) Half Year Half Year SUMMARY 2011/12 2010/11 Working Capital (1,386) 16,002 Net Cash/(Debt ) 6,739 (12,368) Equity 76,930 70,444 Net Debt: Net Debt + Equity Net Cash (14.9%) Interest expense 768 1,183 Interest cover (EBITDA) 14.3x
Slide 14: Income Tax Changes
INCOME TAX CHANGES For personal use only Research & Development With effect from 1st July 2011 the eligibility rules associated with Research & Development Activity have changed, significantly reducing the R&D concessions available The finalisation of the FY2011 claims has resulted in an additional
Slide 15: Agenda
AGENDA For personal use only BSA Strategy Financial Review Business Business Unit Review Unit Review Conclusions FOXTEL Satellite Dish Installation. 15 BSA LIMITED INVESTOR PRESENTATION FIRST HALF 2011‐12
Slide 16: Building Services
BUILDING SERVICES For personal use only Fume Cupboards PC3 Lab Swinburne University
Slide 17: Building Services Overview
BUILDING SERVICES For personal use only OVERVIEW REVENUE Revenue $190 million (pcp $120m) IN $MILLIONS 300 EBITDA (excluding Corporate allocations) $9.8 million (pcp $7.0m) 240 Five month contribution from BurkeAir (acquired 1st Aug 2011) 180 BurkeAir now fully integrated within Technical Maintenanc
Slide 18: Building Services Business Focus
BUILDING SERVICES For personal use only BUSINESS FOCUS Construction Delivery of major projects including: Fiona Stanley Hospital The Kinghorn Cancer Centre The Olivia Newton‐John Cancer and Wellness Centre Building order book and recurring revenue for 2012/13 and beyond Technical Maintenance Service
Slide 19: Contracting Solutions
CONTRACTING SOLUTIONS For personal use only Installation Technicians using an iPad and in‐house developed, works management software
Slide 20: Contracting Solutions Overview
CONTRACTING SOLUTIONS For personal use only OVERVIEW Revenue of $74 million (pcp $70m) REVENUE IN $MILLIONS EBITDA of $4.3 million (excluding 200 Corporate Allocations) (pcp $3.3m) Partnership with FOXTEL extended for an 150 additional 4 + 1 years ‐ tracking to plan Optus project continues to perfor
Slide 21: Contracting Solutions Business Focus
CONTRACTING SOLUTIONS For personal use only BUSINESS FOCUS Delivery of multi‐year contract with FOXTEL and maintaining service delivery leadership role: 13th year of BSA’s partnership with Australia’s leading Pay TV operator Demonstration of BSA’s capabilities to provide superior levels of performan
Slide 22: Agenda
AGENDA For personal use only Mechanical plant lift for Coles BSA Strategy headquarters at Tooranga Shopping Centre Financial Review Business Unit Review Summary 22 BSA LIMITED INVESTOR PRESENTATION FIRST HALF 2011‐12
Slide 23: Summary
SUMMARY For personal use only Interim Dividend 1c fully franked dividend Circa half $ Billion revenue run rate expected by end FY12 Continued strong organisational focus on cash management Strong forward Building Services order book of $154m (plus an additional $20m contracted since December 2011) H
Slide 24: Important Notice
IMPORTANT NOTICE For personal use only This presentation has been prepared by BSA Limited (the “Company”) and provides general background information about the Company’s activities. That information is current at the date of this presentation. The information is a summary and does not purport to be