Aussie Broadband Ltd. · ASX:ABB
Aussie Broadband — Shareholder Meeting (October 2023)
36 slides from Aussie Broadband's shareholder meeting presentation, Oct 26, 2023
Slide 1: ASX Announcement: Annual General Meeting Presentations
ASX Announcement 26 October 2023 Annual General Meeting Presentations Aussie Broadband Limited (ASX:ABB) provides the attached presentations of the Chair, Managing Director and Chief Financial Officer together with the director re-election addresses, which will be delivered today at the Aussie Broad
Slide 2: About Aussie Broadband (continued)
The Company also offers a range of other telecommunications services including voice, mobile plans and handsets, entertainment bundles through its partnership with Fetch TV and connections through the Opticomm network and its white label platform. For further information please visit: https://www.au
Slide 3: Annual General Meeting 2023
Annual General Meeting 2023 26 October 2023
Slide 4: We acknowledge
We acknowledge Aussie Broadband acknowledges Aboriginal and Torres Strait Islanders as the First Australians, and their role as the original communicators, connectors, and carers of the land and waters across Australia. We pay our respects to Elders past and present. We commit to working respectfull
Slide 5: Board of Directors
Board of Directors Adrian Fitzpatrick Richard Dammery Vicky Papachristos Patrick Green Phillip Britt Michael Omeros Independent Chair & Independent Non-Exec Independent Non-Exec Independent Non- Managing Executive Non-Exec Director Director & Chair of Director & Chair of Exec Director Director Direc
Slide 6: Chair's address
Chair’s address Adrian Fitzpatrick Chair of the Board of Directors 5
Slide 7: Chair's Address
Aussie Broadband Annual General Meeting - 26 October 2023 Chair's Address FY23 saw another year of continued growth across all segments. The sales pipeline accelerated during the year as we invested in growing our business development teams, with a focus on the Enterprise and Government segment foll
Slide 8: Inclusion and Diversity agenda
Aussie has also continued to implement an ambitious Inclusion and Diversity agenda over the past year, including appointing an Inclusion and Diversity Manager, establishing a Gender Equity Working Group and delivering a range of programs and resources to promote awareness in areas including disabili
Slide 9: Managing Director's address
Managing Director’s address Phillip Britt Managing Director 6
Slide 10: Managing Director's Address
Aussie Broadband Annual General Meeting - 26 October 2023 Managing Director's Address Good morning everyone, my name is Phillip Britt and I am Aussie Broadband’s Managing Director. I am looking forward to sharing with you the great progress we’ve made over the past year. In August I returned from 3
Slide 11: Track record of growth
Aussie Broadband has a strong track record of growth, with Revenue growing at a CAGR of 60% since FY20. Importantly, we are delivering profitable growth with EBITDA growing at a CAGR of 192% during the same period. The EBITDA margin (before one-off items) reached 11.4% in FY23. Aussie Broadband main
Slide 12: Inclusion and diversity; Symbio proposal
Our work towards an equitable future has seen us focus on inclusion and diversity, fostering a workplace culture that champions equality and lives up to our values. Turning to more recent developments, in late September, Aussie confirmed that it had submitted a conditional, non-binding indicative pr
Slide 13: Building momentum in FY24
As we progress into FY24 we continue to build momentum to further drive our growth in the non-residential segments. We are committed to deepening our presence in the Business, and Enterprise & Government segments. This will be achieved through a focus on solution selling and providing tailored offer
Slide 14: A game worth playing
A game worth playing Leading diversified communications and technology business WIDEBAND NETWORKS FOUNDED BY PHILLIP BRITT AND JOHN REISINGER WESTVIC BROADBAND FOUNDED BY 5 BUSINESSMEN, INCLUDING PAT GREENE ‘OVER THE Wire (OTW) FOUNDED BY MICHAEL OMEROS “AND BRENT PADDON A game worth playing is abou
Slide 15: Delivering our strategy
Delivering our strategy Continuing to build scale across our segments In FY23 Aussie Broadband: Built a strong and resilient network while delivering quality communications services and exceptional customer experiences for Residential and all other segments Accelerated growth across our Business, En
Slide 16: FY23 highlights
FY23 highlights Delivered strong growth across all key metrics vs pcp1 $788.0m 35.4% $89.6m $116.7m Revenue Gross Margin EBITDA Op Cash Flow2 Up 23.1% Up 2.1 ppt Up 52.1% Up 147.2% nbn® Market Broadband Share3 Connections 7.6% 691k Up 1.1 ppt Up 18.2% 1. Prior year comparable (pcp) calculated based
Slide 17: Strong and profitable growth
Strong and profitable growth Operational leverage delivered through scale and product mix Revenue EBITDA and EBITDA Margin ($ millions) ($ millions and %) 1000 • Continued strong 195 11.4% 12% 900 revenue growth 800 788.0 with CAGR of 60% 10% 700 145 • EBITDA expansion 7.2% 8% 600 546.9 at faster ra
Slide 18: Australia's Most Trusted Telco
Australia’s Most Trusted Telco Unique customer experience across all segments 11
Slide 19: Aussie's approach to ESG
Aussie’s approach to ESG Making progress on our ESG Framework Environmental Social Governance Carbon footprint Addressing social Rigorous governance • Carbon neutral for scope 1 challenges • Aligned constitution's purpose 7,000 560 and 2 emissions to support ESG goals businesses worldwide in Austral
Slide 20: Indicative Proposal for Symbio
Indicative Proposal for Symbio Enhancement and expansion of ABB’s voice capabilities • ABB made a non-binding indicative offer to acquire Symbio Holdings on 29 September 2023 at $3.15 per Communication share with a default mix of 75% cash, 25% ABB scrip Platform as a Service • ABB was granted 3 week
Slide 21: 1Q FY24 trading update
1Q FY24 trading update Strong start to the financial year • The first quarter saw broadband connections grow by Broadband Connections more than 40,000 (inclusive of 8,700 from the Uniti 750,000 acquisition) 700,000 • Strongest organic growth quarter in the past 18 months driven by increased marketin
Slide 22: NBN SAU
NBN SAU Years in the making, but finally approved • ACCC approved NBN’s proposed Special Access Undertaking (SAU) on 17 October 2023 • NBN has confirmed the new SAU pricing and conditions will be implemented on 1 December 2023 Speed ABB old price ABB new price 12/1 $59 $65 • The SAU removes volume-b
Slide 23: Positive outlook
Positive outlook Reaffirmed FY24 Guidance Guidance • EBITDA range of $100m-$110m (12%-23% increase on FY23), which includes increased cost of acquisition and increased investment in E&G marketing • Capex range of $47m-$52m, dependent on customer demand for Aussie Fibre • Guidance excludes any costs
Slide 24: FY24 Focus
FY24 Focus Building on momentum to further accelerate non-residential segments Further build momentum in Business and E&G through increased solution selling and leveraging the trust customers have with the retail brand to win in Enterprise Capture further voice market share to continue to scale our
Slide 25: CFO address
CFO address Brian Maher CFO & Company Secretary 20
Slide 26: Chief Financial Officer's Address
Aussie Broadband Annual General Meeting - 26 October 2023 Chief Financial Officer's Address Good morning all, my name is Brian Maher and I am the Chief Financial Officer & Company Secretary of Aussie Broadband. I am pleased to present this overview of the financial results for the year ended 30 June
Slide 27: Net interest and cash flow commentary
Net Interest was $7.1 million, up $5.5 million being the first full year of the new syndicated debt facility. There is plenty of headroom in our interest cover ratio, which was close to 9 times. Deferred capital investments resulted in lower than expected investing cash flows in FY23. Financial Year
Slide 28: Profit & Loss
Profit & Loss FY22 FY23 Change % $m $m Revenue 640.0 788.0 23.1% Network & Hardware expenses (426.9) (509.4) 19.3% 35.4% Gross Margin, 2.1 ppt improvement Gross Profit 213.1 278.6 30.7% Gross Margin % 33.3% 35.4% 2.1 ppt Employee Expenses (100.1) (123.7) 23.6% 52.1% increase in EBITDA Marketing Expe
Slide 29: Balance Sheet
Balance Sheet FY22 FY23 Change Cash and cash equivalents 47.7 75.1 57.4% Trade and other receivables 37.2 43.4 16.7% Plant and equipment Plant and equipment 64.1 91.8 43.2% assets grew 43.2% driven Right-of-use assets 44.3 56.5 27.5% by fibre investments Intangibles 416.4 398.1 (4.4)% Other assets 1
Slide 30: Cashflow
Cashflow FY22 FY23 Change $m $m Receipts from customers 701.7 866.6 23.5% Payments to suppliers & employees (647.6) (744.7) 15.0% Working capital Net Interest Payments (1.6) (7.1) 343.8% improvements driving cash flow increases Tax payments (5.3) 1.9 135.8% Operating cash flows 47.2 116.7 147.2% Pay
Slide 31: Resolutions 2 & 3 Director Re-elections
Resolutions 2 & 3 Director Re-elections 1
Slide 32: Director re-election addresses
Aussie Broadband Annual General Meeting - 26 October 2023 Adrian Fitzpatrick address In support of re-election I am very conscious that I am here to serve shareholders and act in all their best interests and I thank shareholders for your support to date. I trust that my financial background and expe
Slide 33: Director re-election address: credentials
Aussie has always sought to do the right thing and its B Corp certification, which was overseen by the Board through the People and Community Committee, is tangible evidence of this. Turning to my credentials as a non-executive director, I currently serve on a range of significant Boards including A
Slide 34: Director re-election address: diversity and inclusion
One of the reasons I joined the Board of Aussie is its strong commitment to diversity and inclusion. At last year’s AGM, the Aussie Board committed to appoint another female director. A search was conducted, and a highly suitable candidate identified. At her request, we delayed announcing her appoin
Slide 35: Director re-election address
I am very aware that I serve on the Aussie Board at the shareholders’ pleasure. I do not take for granted shareholders’ support, and when I have it, it is greatly appreciated. If re- elected, I will continue to work hard to represent your interests in the Aussie boardroom. Thank you.
Slide 36: Important notice and disclaimer
Important notice and disclaimer This presentation is for information purposes only and it is not financial product or Investors should also be aware that certain financial data included in this presentation investment advice. The presentation is not intended to be comprehensive or provide including
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