Bravura Solutions Limited · ASX:BVS
Bravura Solutions — FY2022 Earnings Presentation
21 slides from Bravura Solutions's earnings presentation, Aug 30, 2022
Slide 1: FY22 Full Year Results Presentation
FY22 Full Year Results Presentation 30th August 2022
Slide 2: Agenda
Agenda Item Description 1 Key Highlights 2 Group Results 3 Strategy & Outlook Bravura Solutions FY22 Results Presentation 2
Slide 3: Welcome and Highlights
Welcome and Highlights Bravura provides digital software solutions supporting sophisticated financial services products Operating Result Strategy Capital ESG ▪ Revenue growth of 10% ▪ Delivered 1st transition ▪ Strong balance sheet and ▪ Ongoing focus on ESG yoy at $266.7m of Sonata Alta operating c
Slide 4: Group Results
.02 Group Results Bravura Solutions FY22 Results Presentation 4
Slide 5: Full Year FY22 Result
Full Year FY22 Result Revenue EBITDA NPAT1 EPS $266.7m $45.3m $25.7m 12.1c ▪ Revenue growth of ▪ EBITDA reduced 8% to ▪ NPAT reduced 20% to ▪ EPS down 14% to 10% $45.3m $25.7m 12.1c, FY22 final dividend declared of ▪ Recurring and ▪ Group EBITDA margin 3.2cps attached Recurrent 17% (20% in FY21) Rev
Slide 6: Full Year FY22 Result
Full Year FY22 Result A$m FY22 FY21 $ chg % chg ▪ Wealth Management revenue grew 6% whilst EBITDA reduced by 22% due to increased global wage costs and resourcing mix. EBITDA Wealth Management 1 169.5 160.1 9.4 6% margin2 decreased to 23% (31% in FY21). $2.3m of the revenue Funds Administration 97.1
Slide 7: Long-term Revenue and EBITDA
Long-term Revenue and EBITDA 300.0 70.0 ▪ Revenue increased by 10% whilst EBITDA1 decreased by 8% on pcp. ▪ The improved revenue result was 60.0 250.0 achieved through an 8% increase of the Contracted Recurring Revenue 50.0 highlighting the value of long-term 200.0 139.1 130.3 client contracts. Proj
Slide 8: Highly Visible Revenue
Highly Visible Revenue ▪ Recurring Revenue comprises revenue that is contracted for the contract term Recurring Revenue, contracted (A$m) plus project work post initial implementation. Majority of the revenue has Recurring Revenue, attached (A$m) Project fees (A$m) contract terms of 7-13 years Licen
Slide 9: Research & Development Investment of $53.9m
Research & Development Investment of $53.9m ▪ ▪ Expensed and client-funded (A$m) FY22 group R&D investment was A$53.9m, of which 41% was capitalised ▪ Capitalisedand(A$m) Expensed BVS-funded (A$m) (A$21.2m). ▪. ▪ Bravura’s current R&D program is focused on outcome-based services predominantly for th
Slide 10: Strong Balance Sheet
Strong Balance Sheet ▪ Bravura is in a robust financial position, with cash of A$48.7m at balance date. ▪ Operating cash flow (excluding taxes paid) was A$47.2m, reflecting Bravura continues to evaluate a pipeline of additional acquisitive, organic operating cashflow to EBITDA conversion of 104% (10
Slide 11: Cash Flow Statement
Cash Flow Statement A$m FY21 FY22 A$m FY21 FY22 Receipts from customers 247.3 273.0 Payments to suppliers and employees (195.6) (225.8) Profit for the year 34.6 29.9 Interest received 0.2 0.0 Depreciation and amortisation 21.3 22.7 Income taxes paid (4.5) (5.2) Total operating cash flow (direct meth
Slide 12: Strategy and Outlook
.03 Strategy and Outlook Bravura Solutions FY22 Results Presentation 12
Slide 13: Next phase of Bravura's strategy will leverage existing assets & strengths
Next phase of Bravura’s strategy will leverage existing assets & strengths BVS product Strong global Revenue growth 72% of $280M BVS’s clients suite covers the footprint underpinned by R&D invested entrust more breadth of the long term over last 7 years than Wealth value contracts and has been clien
Slide 14: Bravura has a strong global footprint
Bravura has a strong global footprint Wealth Value Chain Administration Platform & Product Distribution. Advice & Asset Management & & Custody (DFM’s, Super/Pension, Customer Engagement Investments Protection, Retail) (Transfer Agency) (Adviser, D2C, Hybrid, Workplace) Products Customers 'Greater th
Slide 15: Over the next months we will refine our strategy
Over the next 3 months we will refine our strategy focusing on the following areas Leverage strong Scale opportunities Accelerate Cloud Drive operating Ongoing ESG focus customer base against customer implementation across leverage priorities multiple platforms ▪ Inclusion ▪ Manage for value ▪ Refin
Slide 16: Outlook
Outlook ▪ There are a number of high-quality deals in the pipeline, with high confidence we will close and execute on these opportunities ▪ The specialist labour market we operate in will remain challenging ▪ In Australia there is continued market consolidation providing further opportunities for th
Slide 17: Appendix
Appendix 17
Slide 18: What we do
What we do Bravura provides digital software solutions supporting sophisticated financial services products Core record keeping Process support Capabilities ▪ Investment products ▪ Automation ▪ Cloud deployment ▪ Wrap platforms ▪ New product creation ▪ On-premises and hybrid cloud ▪ Superannuation a
Slide 19: ESG - Social responsibility
ESG - Social responsibility Diversity and Inclusiveness People Sustainability ✓ The Global D&I Leadership Team ✓ Enhanced parental leave offering for ✓ Established an environmental working champions employee networks for primary and secondary carers group to achieve ISO 14001 certification in Gender
Slide 20: Important notice and disclaimer
Important notice and disclaimer The information contained in this document (including this notice) and discussed at this presentation (collectively, the Presentation) has been prepared by Bravura Solutions Limited (Bravura). The Presentation is subject to the conditions outlined below. Your receipt,
Slide 21: For more information, visit
For more information, visit: www.bravurasolutions.com/investors/ investors@bravurasolutions.com