Cleanspace Holdings Ltd. · ASX:CSX
Cleanspace — Shareholder Meeting (November 2023)
16 slides from Cleanspace's shareholder meeting presentation, November 2023
Slide 1: Annual General Meeting FY23
ANNUAL GENERAL MEETING FY23 GRAHAM McLEAN CEO CLEANSPACE HOLDINGS LIMITED (ASX:CSX) CleanSpace designs and manufactures innovative respiratory protection solutions for industrial & healthcare workers globally We understand the importance of best-in-class personal protective equipment that not only p
Slide 2: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER ACCEPTANCE differ from the figures set out in this presentation. This presentation has been prepared by CleanSpace Holdings Limited (ACN 150 214 636) (CleanSpace). PAST PERFORMANCE By accepting, accessing or reviewing this presentation, you acknowledge and agree to the
Slide 3: Agenda
AGENDA 1. FY23 Results 2. FY24 Trading Update 3. Key Strategy Topics 3 CleanSpace Holdings Limited | FY23 AGM | November 2023
Slide 4: FY23 Key Points
FY23 KEY POINTS STRATEGIC OBJECTIVES RESET ▪ Focus on industrial sectors ▪ Healthcare targeted opportunities ▪ 6 Priority growth countries ▪ Right size the cost base ▪ New leadership team in place ENCOURAGING RESULTS ALREADY ▪ Q4 Revenue growth +31% v PCP ▪ Cost reductions $8m (annualised) now in mo
Slide 5: Overview – 2023 Full Year Financial Results
OVERVIEW – 2023 FULL YEAR FINANCIAL RESULTS Revenue ▪ Year: $12.1m (-9% on PCP) ▪ H2: $6.4m (+1% on PCP)(+11% v H1) ▪ Q4: +31% (v PCP) Operating Expenses ▪ Year $18.9m (-20% v PCP) ▪ H2 $8.6m (-25% v PCP) Operating EBITDA loss ▪ Year -$10.8m (+$3.3m v PCP) ▪ H2 -$4.3m (+$3.0m v PCP) Cash in Bank at
Slide 6: Strategy Update: Strategy Reset
STRATEGY UPDATE STRATEGY RESET As the post pandemic environment becomes clearer, we have reset our strategy. We will drive sustainable growth with strong foundations and a fitter, leaner organisation by: 1. Core focus in industrial and mining sectors, which we know very well 2. Realign resources fro
Slide 7: Key Points: FY24 Objectives
KEY POINTS FY24 OBJECTIVES ▪ Potential for 30%+ revenue growth ▪ Gross Margin favourable v FY23 ▪ Build recurring revenue streams ▪ Ongoing cost base optimisation ▪ Cashflow break even in some months ▪ Do not expect to raise capital in order to fund current operations CleanSpace’s business has been
Slide 8: FY24 Trading Update: First Months FY24
FY24 TRADING UPDATE FIRST 4 MONTHS FY24 We announced a Q1 Trading Update on 9 October 2023: • Q1 Sales of $4m (+52% growth v PCP and 18% growth v last quarter) • Q1 end cash at Bank of $11.6m, -$0.6m v 30 June 2023 • October Trading has continued this trend with revenue growth >50% v PCP • Costs and
Slide 9: FY24 Trading Update: YTD Analysis
FY24 TRADING UPDATE FY24 YTD ANALYSIS (after October results) Growth by region: • Europe 111% • Asia Pacific 25% (Australia 31%) • North America 7% Share of respirator units / consumables: 55%:45% Growth by volume / price: • Volume +~30% • Price +~20% 9 CleanSpace Holdings Limited | FY23 AGM| Novemb
Slide 10: Growth Strategy: The Growth Opportunity
GROWTH STRATEGY THE GROWTH OPPORTUNITY • 6 Priority Markets – Industrial PAPR market size US$2-3B • Innovation pipeline • New market segments – eg fire investigation, first responders • Corporate accounts • Recurring Revenue • Employer obligations & compliance CleanSpace now offers compelling custom
Slide 11: CleanSpace Holdings Limited | FY23 AGM | November 2023
CleanSpace Holdings Limited | FY23 AGM| November 2023
Slide 12: www.cleanspacetechnology.com
WWW.CLEANSPACETECHNOLOGY.COM 12 CleanSpace Holdings Limited | FY23 AGM | November 2023
Slide 13: Appendix
APPENDIX 13 CleanSpace Holdings Limited | FY23 AGM| November 2023
Slide 14: FY23 Full Year Results Summary
FY23 FULL YEAR RESULTS SUMMARY Regional Sales: ▪ Europe up 28% INDUSTRIAL REVENUE GROWTH ▪ North America up 10% ▪ Asia sales down 53%, driven by declining healthcare 41 % UP ON PCP 70% GROSS MARGIN ▪ 4 countries 79% of sales (US, France, UK, Australia) ▪ Europe 59% of sales 2 48% CONSUMABLES / ACCES
Slide 15: FY23 Income Statement Summary
FY23 INCOME STATEMENT SUMMARY Change (A$m) vs PCP F / U H1 FY23 H2 FY23 FY23 H1 FY22 H2 FY22 FY22 % Revenue 5.7 6.4 12.1 7.0 6.4 13.4 9U ▪ Revenue down 9% over the year. H2FY23 up 11% on H1 FY23 and up 1% on H2 FY22 Gross Profit 4.0 4.4 8.4 5.3 4.5 9.8 14 U ▪ Retained high gross margin (70% for full
Slide 16: FY23 Summary Balance Sheet & Cash Flows
FY23 SUMMARY BALANCE SHEET & CASH FLOWS as at as at Summary Balance Sheet (A$m) Summary Cash Flows (A$m) 1H FY23 2H FY23 FY23 FY22 30 Jun-23 30 Jun-22 Cash, cash equivalents and term deposits 12.2 24.3 Operating cash flows pre-financing and (7.6) (4.3) (11.9) (12.9) 3.4 2.5 tax Trade and other recei
CleanSpace Holdings — Shareholder Meeting (November 2023) on 6ix