Tasmea Limited · ASX:TEA
Tasmea — FY2025 Earnings Presentation
30 slides from Tasmea's earnings presentation, Aug 25, 2025
Slide 1: Tasmea Limited FY25 Results Presentation
Tasmea Limited FY25 Results Presentation AUGUST 2025
Slide 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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 12: 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 13: 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 14: 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 15: 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 16: Q&A
Q&A 16 2025 RESULTS PRESENTATION TASMEA LIMITED
Slide 17: 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 18: 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 19: Scaling Up: Recent programmatic acquisitions
Scaling Up: Recent programmatic acquisitions Recent programmatic acquisitions added maintainable EBIT of ~$31.3m Expansion into electrification-oriented businesses, civil and water & fluid SUBSIDIARY OVERVIEW ACQUISITION RATIONALE FUTURE GROUP • HV powerline and communications infrastructure • Tasme
Slide 20: Electrical segment
Electrical segment HIGHLIGHTS STATUTORY EBIT AND MARGIN ($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 21: 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 22: Civil segment
Civil segment HIGHLIGHTS • Revenues grew by 92% YoY to $103m STATUTORY EBIT AND MARGIN ($M) • Statutory EBIT grew 68% from $10m to $18m 20 driven by strong growth performance by our 18 existing Civil businesses and complemented in the last quarter by our acquisition of Flanco Group 15 • Margins decr
Slide 23: Water and fluid segment
Water and fluid segment HIGHLIGHTS • Revenues grew 18% YoY STATUTORY EBIT AND MARGIN ($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 24: 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 25: 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 26: 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 27: 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 28: 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 29: 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 30: 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