Slide 1: H1 FY21 Results Presentation
H1 FY21 RESULTS PRESENTATION February 2021
Slide 2: Disclaimer
Disclaimer This presentation contains certain statements and forecast provided by or on behalf of Verbrec Limited. Any forward-looking statements reflect various assumptions by or on behalf of Verbrec. Accordingly, these statements are subject to significant business, economic and competitive uncert
Slide 3: Executive Summary
Executive Summary ✓ Company Profile ✓ 1H Result ✓ Operating and Financial Highlights ✓ Refocussed Growth Strategy ✓ EIM acquisition ✓ Board renewal ✓ Outlook 3
Slide 4: Company Profile
Company Profile Verbrec Limited is a leading mid-tier engineering, project delivery and operations services business executing work across Australia, New Zealand, PNG and the Pacific Islands. Our Services (spanning all phases of the life cycle of assets) Project Development Project Delivery Commissi
Slide 5: Company Profile (cont’d)
Company Profile (cont’d) Verbrec’s core industry markets Focused on Australia, New Zealand, PNG and the Pacific. Revenues are roughly evenly split between: Hydrocarbons A cyclical industry • FY20 demand decline and weaker pricing led to reduction in capex • Capex and investment expected to rebound s
Slide 6: H1 FY21 Financial performance
H1 FY21 Financial performance H1 FY21 H1 FY20 Change to PCP Revenue 47.6m 64.5m (16.9m) Gross Profit 15.9m 20.0m (4.1m) Gross Margin % 33.3% 30.9% 2.4% General & Admin Costs (14.8m) (16.8m) (2.0m) Statutory EBITDA 4.0m 4.9m (0.9m) Statutory EBITDA Margin % 8.3% 7.6% 0.7% NPAT 1.1m 2.1m (1.0m) Basic
Slide 7: Operating & Financial Highlights
Operating & Financial Highlights Operating Highlights ✓ Board and Management renewal completed ✓ Rebranding of LogiCamms to Verbrec ✓ Acquisition of EIM, delivery of first stage of Verbrec’s growth strategy ✓ Transformation of the business now complete following successful merger of OSD and LogiCamm
Slide 8: Operating overview by Service Line
Operating overview by Service Line The Verbrec Legacy Verbrec continues to reinforce its core competencies as recognised experts in each of its six specialty areas, an overview of trading conditions for H1 FY21 follows: Performed above expectations even with impact of lower oil & gas prices and redu
Slide 9: Refocussed Growth Strategy
Refocussed Growth Strategy Achieved ➢ Bolstered business development capability in key Australian markets ➢ Executed first strategic acquisition, Energy Infrastructure Management (EIM), as a bolt on to Verbrec’s OSD Asset Service Line (ref announcements 29th/31st December 2020) ➢ Providing additiona
Slide 10: Why EIM? Bolt-on to Asset Services
Why EIM? Bolt-on to Asset Services The acquisition of EIM provides additional scale (capability, systems, footprint) to Verbrec’s Asset Services and Pipelines Engineering capability and cements the Company as a leading mid-tier engineering and operations service provider servicing the Oil & Gas indu
Slide 11: About EIM – What it does
About EIM – What it does EIM (now rebranded OSD) is a full-service engineering, constructions and operations management company with capabilities across engineering, project execution and operations and maintenance of pipelines and associated infrastructure. It also has a long and strong reputation
Slide 12: About EIM – O&M Services
About EIM – O&M Services Operations and Maintenance Services: • Licensed operator responsible for full compliance under P&G Act 2004 • Operation and maintenance of pipeline, CP system, mainline valve and delivery stations. Performing gas leak detection services to • Preventative and reactive mainten
Slide 13: Board of Directors
Board of Directors Philip Campbell Brian O’Sullivan Linton Burns Matthew Morgan Sarah Zeljko Non-Executive Chairman Non-Executive Director Managing Director Non-Executive Director Non-Executive Director Phillip joined Verbrec in October As the former founder and Linton has over 25 years of Matthew j
Slide 14: Outlook
Outlook Well positioned to grow both Revenues and Margins ➢ Oil & gas prices recovering from the lows of CY20, expect delayed projects to be awarded once economic conditions improve and delayed integrity works to be undertaken during CY21 ➢ Base minerals commodity prices remain strong, seeing signif
Slide 15: OQverbrec
OQverbrec